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AI SUM Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: The merger synergies show potential as SUM's market position strengthens, which could drive earnings growth. Historical volatility suggests a price rebound if market conditions improve.

Bearish Case: Flat implied volatility indicates market skepticism, and recent price declines can lead to further erosion if earnings disappoint or macroeconomic factors worsen.

Potential Outcomes:

1. Successful merger integration leading to revenue increase (40%).

2. Continued market contraction if macroeconomic conditions decline (30%).

3. Increased regulatory scrutiny affecting operations (20%).

4. Unexpected positive earnings boost from infrastructure spending (10%).

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September 08, 2024

Summit Materials Forecast

SUM Summit Materials

Price Forecast
Future Uncertainty

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Correlated Assets

Assets that tend to move strongly with SUM

NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares (0.91)

ABSI Absci (0.91)

IOVA Iovance Biotherapeutics (0.91)

AEO American Eagle Outfitters (0.91)

FERG (0.9)

Uncorrelated Assets

Assets with little price relationship to SUM

FIVE Five Below (-0.0)

HROW Harrow Health (0.0)

CGC Canopy Growth (-0.0)

ZTS Zoetis (-0.01)

LNTH Lantheus (-0.01)

Anticorrelated Assets

Assets that tend to move strongly against SUM

SARK Tuttle Capital Short Innovation (-0.75)

EQNR Equinor ASA - (-0.76)

SRTY ProShares UltraPro Short Russell2000 (-0.79)

HUM Humana (-0.8)

RWM ProShares Trust - ProShares Short Russell2000 (-0.81)

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