$MAC A Dismal 5 Green Monthly Candles In 3Yrs, After Short Call!

On Jan 11, 2017 I posted my short on $MAC based on the changing tenor of the American consumer. The shift to online shopping was and is the greatest threat to retail in my opinion. $MAC was a highly leveraged deep in debt company that, in my opinion was in the crosshairs of industry that would be facing some serious headwinds. Rent PSF was going to plummet as anchor stores throw in the white towel.

Well... 3 years to the month and this resulting chart speaks for itself...

Now we enter a new phase in mall REIT turmoil. It's known as COVID-19. This could very well be the nail in the coffin as community gathering has significantly been reduced. Malls and mall tenants have some serious challenges before them.

Comment:

My 2018 continued short call after the neckline break confirmation on the bearish H&S. Mother Market simply punished mall REIT stocks with absolutely NO mercy whatsoever!

Trade closed: target reached:

Bankruptcy watch in progress

Comment:

When I posted the March 1 update with the COVID-19 mention, while others were discounting the virus as a non event, I knew there would be a significant impact. However, In my wildest dreams I would never have imagined to what extent the impact turned out to be. My heart goes out to those who've succumbed to this awful scourge known as COVID-19