HVN fell -3.2% on Thursday after trying to get off the canvas this financial year, aided by their better-than-expected result in August, but the stock has now given up all of its post-result gain and more. Traders are still holding a 6.4% short position in HVN, illustrating the lack of confidence in the stock and space; it’s simply too hard for us at this stage of the economic cycle.
- We aren’t huge fans of HVN and its franchisee model, but it has offered a few opportunities for the nimble during recent forays under $3.50.
MM is neutral towards HVN into Christmas
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