Kase Capital Short Wingstop Presentation ~ market folly

Monday, April 10, 2017

Kase Capital Short Wingstop Presentation

Whitney Tilson's hedge fund firm Kase Capital has released a slide deck on its short position in Wingstop (WING).  This is Kase's largest short position.

He notes that while the company is growing rapidly, the stock's valuation is "absurd", trading at 52x trailing EPS and 29x trailing EBITDA.

Tilson points out that same store sales growth is decelerating and the company's gross margin has also declined significantly. 

Embedded below is Kase Capital's presentation on why they're short Wingstop:

You can download a .pdf copy here.

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