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TRUP - Adding Insult To Injury: Shorting Pet Insurance
Trupanion Inc.
Trupanion (NASDAQ:TRUP) is an overvalued pet insurance company which is ripe for shorting, PAA Research founder Bradley Safalow told viewers of Real Vision’s Trade Ideas.
Safalow laid out his bearish thesis on the company in detail: TRUP has payout rates higher than the industry norm; is structurally unprofitable; has never had a coherent branding strategy; and faces tough competition.
“What's really, really problematic for them is that it's a grand exercise in adverse selection,” he added. “They are acquiring their pets at the vet. So you're already acquiring pets that in a lot