TrueBlue: A Contrarian Bet I'm Willing To Make (Upgrade)

2026-02-20 09:43:03 ET

Thesis

This would mark the third time I’m covering TrueBlue, Inc. ( TBI ), the microcap staffing and workforce solutions provider. At my first go, the red flags were pretty evident : “declining revenues and net income, decreased gross margins, and dismal growth forecasts.” So I gave it a Sell rating when it was around $15. Then, a couple of years later, things looked like they were turning the corner, so I cautiously upgraded to a Hold when it dropped to around $5, indicating that I’d start dipping my toes in the water, which I haven’t....

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