Hudson's Bay Co. HBAYF

I'm Out!

[bluejay100]

Reluctantly pulled the trigger and exited the stock this morning at $11.46.  Frustrated because I think the value in the real estate is there - maybe $20 a share at this point, but management refuses to monetize it.  I don't see any catalysts for upside in the short to medium term, plus the holding structure has become so complex and frankly opaque that I am not even sure what I am holding anymore.  The WeWork transaction just dilutes and muddies the waters further.  And we just keep hearing the same old waffle on analysts calls.  Finally, with a paltry dividend I don't even get paid to wait.

Ultimately there are dozens of better stocks out there and I am going to pick one to invest in.  I might come back to HBC once the price drops down to single digits again.