C.H. Robinson Worldwide
Thesis
The team argues that C.H. Robinson is overvalued due to its reliance on a cyclical industry and potential disruptions from technological advancements in logistics.
Did it work?
worked
confidence: high
The short thesis argued C.H. Robinson was overvalued given its exposure to a cyclical freight industry and vulnerability to logistics technology disruption. Over the ~8.3 years since the pitch, the stock declined 54.1%, a substantial move squarely in the direction of the short. With far more than any reasonable stated horizon having elapsed and a large drawdown realized, the thesis decisively played out.