End of Macys Don't Blame covid19 just buy puts!
Buying puts around 50 MA for MACYS.
Long corridors of clothing and accessory racks, where the only signs of life were employees, hinted at an ever ominous foretelling of the days when masks would become more sought after than Gucci socks in post covid19 USA. This was long after the brick and mortar mall department stores had a lost decade as e-commerce morphed into e-everything. Macy's, the flagship of American consumerism and its less prestigious twins, Sears and JC Penney, had seen what was left of a glorious epoch instantly evaporate into historical record.
How did covid 19 become the "reason" Macy's is exponentially sliding into a bankruptcy abyss? Macy's seems to be surviving by cannibalizing its real estate portfolio rather than selling "high end" prefab suits.
https://www.barrons.com/articles/macys-stock-real-estate-play-51581462104
https://www.cnbc.com/2020/04/17/coronavirus-macys-reportedly-looks-to-use-real-estate-for-cash.html
It has been the end of the road for Macy's for a long time. e-commerce destroyed the brick and morter model long ago that only something like walmart or 711 could survive. Macys is a pure play for V recovery theorists however it is not so simple that the entire economy may lift.
On the daily 4hr chart Macys is entering the put buy zone. Anyone believing the zombie economy is going to bring Macy's shoppers back in droves is dreaming of Christmas in a post covid19 USA July with the global economy on life support.
Macys is once again a good short sell. Buy puts. Empty stores, laid off works, Amazon destroying their online competitiveness.