$TGT's investor hate-wave is a nothing burger.

TLDR: TGT is oversold and is due to return to $145 before Earnings and Low/Mid 160's after earnings. I'll probably do a DD on $TGT if/when I get my shit together. Questions/comments are appreciated and possibly used for DD insights.
From the creator of China-Doomer and shitty $SPY loss porn, I bring to media's currently most hated retailer: Target .
We all know how the BS started and the resulting a FB post that "rallied" anti-woke consumers and scared $TGT investors. This bear parade has dropped around 30% from its peak. Multiple downgrades, many institutions hating on them. The recent short is at 11%, a highly bearish mentality over angry boomers.
So why am I bring them up now?
Target is oversold on the agenda of "decreasing consumer discretionary spending" and "protests". These are nothing but an over-hyped bear's wet dream. For example, research is pointing towards a significant increase of foot traffic into Target. Consumer Spending is increasing despite the doomer posts.
The downgrades reasoning seemed fishy that pointed at $Walmart(WMT.US)$ taking more of the sector. I would argue that $Target(TGT.US)$ target audiences are different from $WMT. $TGT's audience is Millennials/College Student who want a "luxury" experience that cannot afford it. These two audiences with large student debts may sound scary but will not hurt $TGT's bottom line as long as political garbage drags the issue.
Conclusion
$Target(TGT.US)$ dropping as hard as they did while other discretionary consumer retailer/company is at/near 52w Highs seems contradictory. Either the entire market is ignoring $Target(TGT.US)$ (Consumer Spending is increasing) or the market is overpricing everyone else
Positions
- Currently debit spreads: 10x each Sept 145/155C & 155/165C
- Goal: 50x Sept 145C & 155C and 200x 14DTE w/ +15% movement on earnings.