Here’s Why Clear Secure (YOU) Became a Best Performing Short Position for Liberty Capital

Liberty Park Capital Management, LLC, a financial management company, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 14.60%, net of fees, in the second quarter compared to the Russell 2000 Index’s 5.18% return. Both the Liberty Park funds delivered excellent results in the quarter. The increase in the fund’s long positions contributed 15.28% on a weight-adjusted basis, while the increase in shorts detracted 0.96% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 19.46% net of fees in the second quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Liberty Park Capital highlighted stocks like Clear Secure, Inc. (NYSE:YOU) in the second quarter 2023 investor letter. Headquartered in New York, New York, Clear Secure, Inc. (NYSE:YOU) is a secure identity platform operator. On September 28, 2023, Clear Secure, Inc. (NYSE:YOU) stock closed at $18.54 per share. One-month return of Clear Secure, Inc. (NYSE:YOU) was -14.80%, and its shares lost 18.90% of their value over the last 52 weeks. Clear Secure, Inc. (NYSE:YOU) has a market capitalization of $2.82 billion.

Liberty Park Capital made the following comment about Clear Secure, Inc. (NYSE:YOU) in its Q2 2023 investor letter:

“Clear Secure, Inc. (NYSE:YOU) reported earnings that were slightly above consensus estimates; however, the company continued to show declines in customer retention. We think YOU is at risk of significant churn if its partnership with American Express is not renewed, and we contend the opportunity with airports is more than fully priced into the shares.”

A close-up of a user authenticating into a secure network using a two-factor authentication process. Editorial photo for a financial news article. 8k. –ar 16:9

Clear Secure, Inc. (NYSE:YOU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Clear Secure, Inc. (NYSE:YOU) at the end of second quarter which was 17 in the previous quarter.

We discussed Clear Secure, Inc. (NYSE:YOU) in another article and shared the list of stocks that paid special dividends in 2023. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 30 Least Racist Countries in the World
• 10 Casino Stocks that Pay Dividends
• 20 Most Popular Business Hashtags on Instagram

Disclosure: None. This article is originally published at Insider Monkey.