Lululemon (LULU): Long, Small Size
By Sushane Atmakuri, Co-President & CFO
The full write-up behind the club's position: what broke in the Americas and China, why a price of about 10x trough earnings assumes permanent decline, the new CEO's contract, the founder's standstill, divorce and share hedges, the legal and tax exposures, and bear, base and bull cases from $70 to $200.