HVN has fallen 10% in rapid fashion over the last few weeks and to us, the simple risk/reward is too hard around $4, especially if people are going to hold fire on large ticket items like white goods, a theme we saw play out with JBH and their Good Guys franchise.
- We wouldn’t be surprised to see Gerry Harvey’s retailer trading back around $3.50.
MM is neutral to bearish HVN
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