CUT

Outperforming without a clear catalyst yet

• CUT −0.14% on the last session vs SPY −1.77%: +1.6 pts of stock-specific move.
• Aftermath, volume spike (7.1x average volume, -0.1% on the day): After its 56 volume spikes in the past 5 years, CUT was higher a day later 31 times out of 56; half the outcomes fell between -0.7% and +0.6%. History, not a forecast.
• 1 Reddit mentions in the past 24 hours, 42% positive over the week.
• Market backdrop (Thu): Advance GDP q/q 3.4% vs 3.2% expected (stronger); Core PCE Price Index m/m 0.3% vs 0.3% expected (in line); S&P futures +0.03%, 10-year yield -2bp in the 30 minutes after.
• Activity: volume 7.1× its 20-day average.