Playboy PLBY is a Multi-Bagger
Updated
This is not my idea or research. This is an idea from one of my favorite analysts, Brian McGough, who is a retail director at Hedgeye Risk Management. He said GME GameStop was a potential 10-bagger when it was at $20 late last year, and he's recently said he thinks PlayBoy is a 10-bagger (from ~$20). The general thesis is that the old management is gone and new management will have an opportunity to pivot the company towards a global sex, health, and media market that has a size of something like 300 billion. Still great upside from here, I am long the stock from $40 and am buying every dip.
Note
The arrows and timeframe of the chart should not imply that I except the entirety of this move over the next month. I think it will take more time, this is a longer term holding in my opinion.Note
expect*Note
I apologize for not updating this idea. I closed the majority of my position at $55 and was stopped out of the rest at $37.80 using MyFractalRange signals. I've since begun reloading a small position, currently averaged at $28.60. My signal continues to signal lower lows so I want to wait for $23-$25 to put the rest of my position on.
This is an idea that I still believe in strongly as a long-term tail idea. Its a management turnaround story.
Do your own DD.
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