Cooper Tire & Rubber (CTB.N) - Fundamental Equity Short Idea

CTB - A company losing market share in a largely commoditized industry with capacity growth that is outpacing demand.

Cooper Tire is the 13th largest manufacturer of tires and 5th biggest in North America. It goes to market under a host of brands, along with some private label. Largely operates in the replacement market and ~90% of revenues are derived from light vehicles (passenger and light truck). United States is nearly 80% of revenues, followed by China at 8%.