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Update on What's Up with P&G

I placed Procter & Gamble ( PG) on my Best Ideas List as a short on Aug. 31 at $92.56.
 
The shares closed Thursday at $88.23 and, as of this writing, are up $1.57 in premarket trading.
 
Thursday, it was announced that activist investor Nelson Peltz may have won his board seat.
 
Frankly, if the proxy results stand, and Peltz secures his seat on the P&G board, I suspect he will have little impact and that the relationship with Peltz will remain contentious.
 
I am a short seller in PG today based on my negative consumer packaged goods thesis.
 
Position: Short PG .
 
Originally published Nov. 16 at 9:13 a.m. EST
 
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