Hunting For Alpha: Stocks that continue to offer significant downside
Report by MYST Advisors
MYST hosted 25 formal events in 2023 generating 333 ideas (223 longs and 110 shorts). It was another impressive year with nearly 70% of their highlighted shorts producing positive alpha. Names that remain compelling include:
Aurora Innovation (AUR) - Entering a highly competitive market with an unproven product. TP $0 (100% downside).
Infosys (INFY) - Financials deteriorating amid structural growth slowdown. TP $12.50 (30% downside).
MP Materials (MP) - EV industry pivot away from rare earth materials to cause massive oversupply / pricing collapse. TP $10 (40% downside).
Veeva Systems (VEEV) - Back-end transition could be “worst tech decision since Osborne Computer Corp”. TP $115 (40% downside).