European & US short ideas
Since Vision pitched their short thesis on Vidrala, Verallia and O-I Glass at our Equity Shorting Conference in mid-Mar the stocks have underperformed the Stoxx600 by ~8%. In the last couple of months they have also initiated 3 new European shorts, 3 new US shorts, and has readied a new $7bn+ European short (trades ~$20m/day and has short interest of <1%) for initiation next week. Please join Vision for a meeting while members of their team are in Paris (Jun 5th-6th), Zurich (Jun 7th) and London (Jun 8th-12th).
In the last 24 months, Vision has closed several shorts including: Allegro, AutoStore, Boohoo, Burlington, Colruyt, De'Longhi, Electrolux, Gerresheimer, H&M, Hargreaves Lansdown, Inditex, New Relic, Nokian Tyres, Peloton, Similarweb, Thule, Trex, TSMC, UiPath and Whirlpool.
Edition: 161
- 26 May, 2023
Financials
Vision Research’s short thesis is playing out as expected as HL share price crashes 15% following the release of results on 22/2/2022, resulting in a ~21% decline since the call was initiated 6/11/2020. During this time, the Stoxx600 rose 28%. The thesis focused on fee / commission pressure from Vanguard and fintech companies, difficult trading volume comparisons caused by unsustainably high activity during the pandemic, slowing net inflows, and rising costs per user. Vision currently has 14 European and 9 US active short ideas.
Edition: 130
- 04 March, 2022