HanesBrands (HBI): Catastrophic Decline, Not A Terminal Decline

HanesBrands (HBI) is going through a multi-year restructuring, says George Tsilis. He joins Alex Coffey and Jenny Horne to discuss HBI as its shares are down about 60% YTD. He talks about how Wells Fargo doubled downgraded HBI to underweight from overweight, noting that they see greater risk to 2023 earnings and expects the market to "react cynically until we receive more clarity on the fundamentals." He also goes over how HBI has some debt that could cause issues for the company. George says that HBI is showing a catastrophic decline, not a terminal decline. Tune in to find out more about the stock market today.