Adaptive Ad Systems: A Profitable Microcap Trading Below Net Cash
Adaptive Ad Systems trades at a $9 million market cap against $12.7 million in net cash, with profitable cable ad insertion operations and…
Friday, May 9
Friday, May 9, 2025
Everything we published on this day.
2 stories
catechwilliams on X
$ACA Levered roll-up (4x levered) hodgepodge of low-quality cap intensive commodity businesses w struggling end-markets (sub-scale aggregates, building products, ag). Negative organic growth w unrealistic guidance. Forced to sell an asset to avoid covenant breach. 30x P/E
