Jumia
Jumia’s January 2028 $7/$15 call spread risks $1.15 for up to $6.85 if cost cuts and marketplace growth deliver adjusted EBITDA and cash-flow breakeven in Q4 2026.
Tuesday, August 18, 2026
Back to today 
From X
marginofdanger on X
Really interesting how $GO had truly massive insider buying and the stock barely reacted, allowing the investor to accumulate a sizable position. This one has worked quite nicely. https://t.co/iXfU4SCmt5
Timyan Bank Alert on X
BancFirst $BANF Corporation Announces Acquisition of SpiritBank https://t.co/8jm5DCej1L
Nat Stewart on X
For those who like micro-caps, a great writeup on $RAVE (Pizza Inn) moving from a multi-year turnaround to growth https://t.co/bvr1F6GyVg
Psyop Capital on X
$UTGN looked promising as an illiquid deep value sit with buybacks at way below IV, but this relatively recent option grant struck below NAV seems like a thesis killer. Anybody know the name well?
Laughing Water Capital on X
@darkstarsats @dylan_ascencios @dan_tmt and why would anyone have to retool antennas or receivers when almost all (but not all) Part 15 are center tuned to 915, which $NN doesn't want. Why are 10 Mhz around 915 not enough when EU and China do it with 5 or 6 MHz?
Laughing Water Capital on X
@dylan_ascencios @darkstarsats @dan_tmt @darkstarsats ty for the work you have done on $NN. Do you have a view on why 907-918 MHz is not enough for Part 15 when Europe and China allocate ~half as much for similar devices and don't have any problems? Note that most Part 15 devices are center tuned to 915. TYIA
Tim Eriksen on X
Well done $PGNT shareholders for voting down Sham Gad's (and the pathetic tone deaf Board's) absurd proposal to allow him to be CEO and Chairman. https://t.co/0azSmxPjt6 I would love the background since one director's boyfriend (Kevin Ting) who got her the directorship appears to have voted against it too.
Timyan Bank Alert on X
$CZWI 13d -Salute to Andy @Schornack https://t.co/WOcHVKcvh4
Investor Letters
All letters- Palm Harbour Capital July 2026 064850 $164M082920 $946M
- Protean Funds July 2026 DVYSR $91MSTOR-B $1.7B
- Royce Investment Partners Year-to-Date Through 6/30/26 ACA $7.2BADMA $2.1B
- First Eagle Investments second quarter 2026 BTG $9.9B
- Southeastern Asset Management 2Q26 ACI $5.9BCNX $4.9B
- Horizon Kinetics 2nd Quarter 2026 INFL LB $6.8B
- Ariel Investments Quarter Ended June 30, 2026 CLB $502MHAE $4.9B
- White Falcon Capital Management Q2 2026 EPAM $5.8BTOI $5.3B
$DNOW: the boring distributor that could double on 2029 numbers | Firebird Management
DNOW’s MRC Global merger targets $75 million of synergies, with a 2029 bull case of $30 to $32 per share driven by cash flow and rerating.
Are Department Stores Finally Shortable?
Macy’s and Kohl’s face renewed short cases as their recent reratings ignore fading store-refresh gains, credit-card earnings exposure and…
Entravision Q2 Notes
Entravision’s ATS revenue rose 230% to $182.8 million in Q2, but shares fell from above $14 to about $8 after management forecast…
$UWMC lost $600m hedging a deal they'd already lost
UWMC booked a roughly $600 million Q2 hedging loss tied to TWO months after the deal collapsed, contributing to an expensive capital raise.
40 Stock Pitches (3rd-9th August)
Navient trades near 40% of tangible book as Gator Financial Partners argues private student-loan growth and restructuring can reverse its…
$HIMS: Paul Cerro wouldn't trust the CEO to walk his dog. He's still long. Why? | Cedar Grove
Hims & Hers investor Paul Cerro is long again on lab and patient data driving retention and LTV, despite management concerns, GLP-1…
These Power Stocks (Not Semis) Are The Real AI Beneficiaries, Say Investing Brother Duo Up 1,300%
Pernas Research names Capstone Energy and Stabilis Solutions as AI data-center power beneficiaries, alongside Tenable, Upwork, Wise and…
My Pitch Deck Slide Show from the MS Microcaps Summer Virtual Conference
Butler National Corporation is the subject of a stock pitch presented at the MS Microcaps Summer Virtual Conference.
DEC-laration of independence
Diversified Energy cut $233 million of debt in 1H26, repurchased $93 million of stock and sold $273 million of land and assets while…
Perimeter Solutions: 2Q26 Business Recap
Perimeter Solutions’ 2Q26 revenue rose 31%, while operating income fell 11% as USDA pricing and DLA delivery timing hurt Fire Safety; it…
COUR · long Coursera INC
Coursera's combination with Udemy creates an online learning platform serving over 270 million learners with hundreds of thousands of…
Floor & Decor: 2Q26 Business Update
Floor & Decor’s same-store sales improved to minus 2%, while $45 million of tariff refunds lifted second-quarter gross profit and operating…
A Venezuela Lottery Ticket for 41 Cents
Lionheart Holdings’ 41-cent CUBWW warrants hinge on a SPAC merger valuing KEO Energy’s Venezuelan PetroUrdaneta stake at $1 billion, versus…
[scuttleslops] BLDR, RYAN, APG, GFL, FND
Builders FirstSource reported Q2 2026 sales down 9% to $3.9 billion as weak housing demand and aggressive competitor pricing cut EBITDA…
Floor & Decor 2Q'26: Tentative Green Shoots
Floor & Decor held 2026 guidance after a 2Q beat, with comps improving through June; tariff refunds lifted margins and may fund pricing…
Vistance Networks (NASDAQ: VISN)
Vistance Networks plans a large post-Ruckus-sale dividend, leaving Aurora Networks valued below 4x guided EBITDA after $1.88 billion of…
Cematrix Corp ($CEMX.TO) FINS Review
Cematrix posted record Q2 revenue of $18.7 million, up 76%, and $3.5 million of net income, while backlog fell 9% from year-end.
[OTCM] Listings for the rest of us
OTC Markets gives smaller, distressed, and lightly disclosed companies a trading venue outside NYSE and Nasdaq, with lower listing barriers…
This Stock Just Got Cheaper on Better Numbers
A debt-free American manufacturer now trades at roughly 7x annualized Q2 EBITDA, with $7.35 per share in net cash and a tender floor 18.5%…
Entravision: Another Whale Has Emerged
Entravision’s Q1 filings contain a new footnote disclosure pointing to a potential second large advertiser beyond its Hong Kong customer,…
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Seeking Alpha 29 of 161
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A Capital
AltayCap
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BDC
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catechwilliams
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Connor Haley
Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
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Farmer
Fierce_beast
Fred Liu
Gavin Baker
Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
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Maius
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marginofdanger
mavix
Mike
Mikro Kap David
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Myles
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Negligible Capital
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Sahil Khetpal
SG
Tim Eriksen
Timyan Bank Alert
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ToffCap
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Voss Capital
Yaron Naymark
Investor letters we follow
- 1851 Capital
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
- Alpinum Investment Management AG
- Ariel Investments
- Artisan Partners
- Askeladden Capital
- Asset Value Investors Ltd
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- Cedar Creek Partners
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- Donville Kent Asset Management Inc.
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- Invenomic Capital Management
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- Lindsell Train Limited
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- Pershing Square Holdings
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- Sequoia Fund
- Southeastern Asset Management
- Third Avenue Management
- Tweedy, Browne
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- Vulcan Value Partners
- Wedgewood Partners
- Weitz Investment Management
- White Falcon Capital Management
Sectors
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