Sneaky Falcon Enterprises, LLC has purchased 50 shares of Macy’s Inc (Ticker NYSE:M).
The 50 shares were bought at a price of $25.81, for a total cost basis of $1,297.32 (with commission). Eric, who had been following Macy’s closely the last few weeks, called for an emergency vote to load up before the ex-dividend date.
Why are we getting in on the much maligned brick & mortar retail industry, you ask?
Well, it’s not the industry itself, but a potential bright spot in Macy’s. The stock has been hit hard over the last 2 years, but revenues remain strong. Things appear to be turning around, and another good earnings release and a short squeeze could send the stock even higher.
Besides, we aren’t in this one for the long term. Looking to make a quick buck from a strong 4th quarter and collect a pretty solid dividend as well.
To the moon!
Be sure to visit our portfolio page to see all of our other holdings as well!