From a fundamental perspective, there is nothing new since the last update. From the trading data we can share the following:
- Occasionally, there is light selling by Smart Money.
- Corn prices continue to be low. Corn prices are important because they are the primary feed for chickens.
- Short interest has fallen by about 30% and now stands at 4.8% of the float. This reduces but does not eliminate the probability of another short squeeze.
Our Speculation
Our speculation is that TSN is itching to do another acquisition similar to HSH.