Camping World Holdings, Inc. (CWH): A Bull Case Theory
Photo by Blake Wisz on Unsplash
Camping World Holdings (CWH), the largest RV dealer in the U.S., is set to benefit from proposed legislation that would make RV mortgage interest and trailer floorplan financing fully tax deductible. This policy change could reduce monthly costs for RV buyers by approximately 10%, potentially reigniting demand in an industry that has been in decline since 2022.
CWH, with a strong focus on affordable trailers, continues to gain market share in this domestically concentrated market—most RVs are manufactured in Elkhart, Indiana, giving the company minimal exposure to international tariffs. Despite these advantages, RV-related stocks, including CWH, experienced a sell-off in April. However, this pullback, coupled with the new legislative tailwind, has created an attractive entry point for investors.
The firm behind the thesis has held a position in CWH since its inception based on its ability to consistently gain share and its compelling valuation, though the stock previously lacked a meaningful catalyst. The recent policy momentum provides that missing trigger. If enacted, the bill could significantly improve affordability for consumers and drive a rebound in RV purchases, positioning CWH as a clear winner given its scale and price-focused offerings.
The investor has responded by increasing exposure to the stock, anticipating that the favorable legislative environment could accelerate share gains and unlock upside in a currently discounted equity. Overall, CWH offers an appealing risk/reward setup, with its dominant market position, renewed demand outlook, and supportive policy developments aligning to create a timely investment opportunity.
Previously, we covered a on CarMax, Inc. by Stock Region in July 2025, which highlighted strong earnings, record unit profitability, and a large share buyback. The company's stock price has depreciated approximately 2.20% since our coverage due to macro headwinds. The thesis still stands as fundamentals remain solid. Stock Analysis Compilation shares a similar outlook on Camping World Holdings, emphasizing a legislative catalyst.
Camping World Holdings, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held CWH at the end of the first quarter which was 36 in the previous quarter. While we acknowledge the potential of CWH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
Disclosure: None.
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