Quote:
Originally Posted by lamboguy
last week i touted Pepsi as a good short. stock has been dropping after the CEO unloaded $800,000 worth of stock..
please pay close attention to companies like McDonalds and Coca-Cola, they should come apart as well. i will remain short these names for a long, long time to come.
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The Nasdaq is down 30%
The S&P500 is down 20%
And you want to short the stock that after all the chaos is now down 3.5%?
Stock dropped about 6% after the CEO sale, has recovered half of it back already and never even tested it's lows of March.
There are LOTS of people that buy Pepsi at any sign of a good valuation, it will meet with alot more resistance going down than others. It just raised the dividend another 7%. I won't say how much of that stock I own, but the people buying weakness in Pepsi FAR exceed the ones shorting it. I'd guess any of the top ten names in the S&P500 are better short candidates than PEP.
PEP is up about 4.5% since you posted about shorting it BTW.
