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Canopy Investors's investment thesis on Trex ($TREX) — Q2 2026 | Buyside Digest

$TREXNASDAQTrex

BEAR

Canopy Investors—TREX

Fund Letter

Q2 2026

Published June 30, 2026

$43.56USD

-4.5% vs last month

$48.47Pitched

-10.1% since pitch

Market Cap$4.9B

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Trex faces an extended cyclical downturn in housing demand coupled with a weaker sales trajectory. Compounding these issues,...

— Kris Webster, Michael Poulsen, and Jack McManus

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TREX manufactures composite decking that continues to take share from traditional wood.