Eric DeLamarter’s Half Moon Capital thinks Cricut Inc (NASDAQ:CRCT) is an attractive short opportunity, seeing multiple potential catalysts that could slash its share price in half. The novelty DIY cutting machine manufacturer addresses the declining, competitive scrapbooking and paper crafts industry.
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“Grossly inflated” stock price
According to a short report Half Moon Capital sent its investors, which was obtained by Hedge Fund Alpha, the firm believes the stock has become “grossly inflated” following the company’s first-quarter earnings results. That report included multiple one-time items that boosted Cricut’s headline numbers above consensus.
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