Today’s short involves a utility company, which as an industry has not performed entirely well this year. Below is a utility that has been able to put on a descent run of late, and is now looking primed to be shorted. There already has been a descent decline in this stock – but there remains possibly another descent 8% – 10% drop to be realized in this holding. By the way, being downgraded yesterday may also help in the further price deterioration.
Here’s the chart on ED…
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