Apr. 17 at 12:42 AM
An excellent dumpling top on the daily chart in
$OLN, a break through
$27.50 will likely test the 50-day MA at
$26, a nice short trade setting up.
Im all-in on the shortside account, short
$CMG at 33.85. Stuck a buck and holding.
All in
$MGPI on the buyside at
$20.05, I feel like the Sazerac offer on Brown Forman highlights the value of the company. MGP is trading at 0.8X sales / 0.6X BV and Sazerac offered 15B (3.75X sales / 3.75X BV) for Brown Forman.
I think MGP distills liquor that is as good as Brown Forman, is diversified with a distilling solutions business (white-labeled spirits) with Diageo as its biggest client and a growing food ingredients business that serves commercial bakeries and a growing textured proteins market (plant-based meats) that incorporate wheat glutens.
Im a tofu guy myself, but the wheat meat isnt that bad. Companies like Gardein, Impossible Foods and Beyond Meat all have wheat meat products.
