- Charter Communications ( NASDAQ: CHTR ) was added as a short idea at Hedgeye as the firm believes a deterioration in fundamentals for the cable company "is only getting started" and sees potential for 20%-30% downside for the shares. Charter ticked down 0.7%
- "Threats from FWA and Fiber have forced CHTR into another capital cycle that is unlikely to improve its strategic positioning long-term," Hedgeye analyst Andrew Freedman wrote in a note on Thursday. "We believe CHTR will struggle to grow internet broadband subscribers with a rising probability of sub losses over the next 3 years as Fiber penetration increases."
- Hedgeye expects Charter ( CHTR ) operating income and EBITDA to declined on YoY basis as soon as 1H23.
- Charter ( CHTR ) shares slumped 16% last Wednesday after the compan y outlined heavy spending ahead on nationwide network upgrades at an investor day. Charter's stock has dropped over 50% this year.
- Charter ( CHTR ) short interest is 8.4%.
For further details see:
Charter Communications a new short idea at Hedgeye