Adding to my $FIX short position here. Final tranche at $1650.
This isn't just a data center play—they're exposed to home and office construction as well. With rates still elevated, that residential and commercial exposure should be taking a toll.
Currently trading around 2x its historical multiples. Setup looks asymmetric to the downside given the macro backdrop and valuation stretch.
This isn't just a data center play—they're exposed to home and office construction as well. With rates still elevated, that residential and commercial exposure should be taking a toll.
Currently trading around 2x its historical multiples. Setup looks asymmetric to the downside given the macro backdrop and valuation stretch.
