I am staying away from this name for now, despite the Alexion acquisition and vaccine promise.
Keep in mind the positive catalysts as we wrap up the year.
The company has increased its dividend each year for over 25 years.
Surprisingly, 2020 has turned out to be decent year for restaurant stocks.
Despite negative volatility, at this point it looks like a pause in the uptrend and not a major top.
Long-term investors need to understand that an over-reliance upon tracking funds will ultimately exacerbate volatility, and once everyone is standing on the same side of the ship, destabilize financial systems.
Here's what has us looking over our shoulder.
Trading action is so good it is difficult not to be concerned it is frothy and ripe for a negative surprise.
I am happy to trade more limited returns for lower beta right now using covered call strategies.
Insiders have been selling while valuation continues to be extended.