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.
Wednesday, August 19, 2026
Back to today 
From X
Mike on X
Good results recently for $MEI https://t.co/pw7Uhce7ZB
Nat Stewart on X
The funny part about the WSB action in $WEN is that they hit on a pretty compelling idea with a hugely skewed risk/reward. Thinking the bull case needs to be about "squeezing shorts" to "save Wendy's" or similar BS is absurd.
Timyan Bank Alert on X
$CBAN to merge w/ $FSRL https://t.co/2hLKYqpeB6
Psyop Capital on X
Is contextlogic interesting/worth digging into? $LOGC. I really like the Salt acquisition but seems like they paid a rich multiple for it. Fear this will end up in the graveyard of mini-Berkshires over time
Laughing Water Capital on X
@snack8812 @CalgaryLeveen Hi - could you explain why you think the "admin in office" is against $NN? Is this just because of the OIRA delay? Or are there other reasons? TYIA
Laughing Water Capital on X
Grt🧵on $GSK's cancer biz. But IMHO GSK cant max their ROI b/c $ANAB can block GSK from partnering w/ other PD1s like $MRK's Keytruda. Trial is 7/14 & GSK could lose 100% of JEMPERLI which IMHO is ~10% of GSK's mkt cap. I think GSK settles or buys ANAB for big $$$. Disc: Long https://t.co/N4Rls7h63Z https://t.co/04Zx6UdUwi
Laughing Water Capital on X
@darkstarsats 2/x) $NN can play a video for congress of them running tests right outside the capital building, or maybe even inside, and say "see, no interference."
Investor Letters
All letters- Palm Harbour Capital July 2026 082920 $946MVVVNF $1.8B
- Protean Funds July 2026 STOR-B $1.7BTRUE-B $615M
- RGA Investment Advisors Q2 2026 MIPS $1B
- Royce Investment Partners Year-to-Date Through 6/30/26 ADMA $2.1BKD $2.7B
- First Eagle Investments second quarter 2026 AORT $1.2BCENX $3.9B
- Southeastern Asset Management 2Q26 CNX $4.9BFBIN $4.8B
- Horizon Kinetics 2nd Quarter 2026 MIAX $3.8B
- Ariel Investments Quarter Ended June 30, 2026 CLB $523MHAE $4.9B
$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…
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…
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…
[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,…
COUR · long Coursera INC
Coursera's combination with Udemy creates an online learning platform serving over 270 million learners with hundreds of thousands of…
$PRKS: SeaWorld, an 8% cash yield, and a possible 80% short squeeze | Hawkins Entrekin
United Parks trades at 8x EBITDA with an 8%+ unlevered cash yield, aggressive buybacks and roughly 80% effective short interest, while…
Clear the DEC?
Diversified Energy (DEC) has paid $21.84 per share in dividends since June 2017 and trades at $13.35 amid a bullish U.S.
$CBZ: stop the buybacks and restart the M&A flywheel? | Reference Equity
CBIZ activist Ryan Bunn urges ending buybacks, issuing equity and resuming bolt-on acquisitions to delever after the $2.3 billion Marcum…
Matan on Stitch Fix
Stitch Fix’s rushed Freestyle pivot cannibalized its profitable Fix business, driving active clients below 3.4 million, quarterly revenue…
Is insider buying a signal if the insiders are always wrong? $LILAK
LILAK’s canceled GCI Liberty deal, preferred-stock distribution, and $1.7 million of insider buying revive governance concerns around John…
$VEON: a busted EM telecom hiding a 4x? | Samit Umatiya, UIG Funds
VEON’s 84% Kyivstar stake and JazzCash underpin a sum-of-the-parts case for 4x upside, despite its sanctioned shareholder, capital…
Under The Hood, Wingstop Inc. ($WING)
Wingstop generates most of its $697 million revenue from franchise royalties across a 3,153-restaurant, 98%-franchised system while…
The Biggest Bull Signal On Entravision
Entravision’s lost Meta relationship reset its business model, setting up a bullish case for the company’s recovery.
The Arithmetic: How a $9 Spanish-Language Broadcaster Becomes a $100 AdTech Stock
Entravision’s path from a $9 Spanish-language broadcaster to a $100 adtech stock rests on an adtech-driven valuation model.
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Newsletters 91
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Blogs 12
Seeking Alpha 29 of 159
Andres Veurink
Bay Area Ideas
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Jaden Mealy
LL Insights
Marc Gerstein
Mike Zaccardi, CFA, CMT
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Petri Dish Reports
Philip Wang
Prakhar Agarwal, CFA
PV Research
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Sam Mancini
Sharon McArd
SiliconBytes Insights
Simple Investment Ideas
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The Undercovered Dozen
Value Capital Research
X accounts we follow
Every account on this site, hand-picked.
⚽️📡
💥PETITION💥
A Capital
AltayCap
Bank Reg Blog
Barbarian Capital
BDC
Bill Ackman
Broken Moats
BuccoCapital Bloke
catechwilliams
Charles Frischer
Chris Camillo
Clark Square Capital
Cluseau Investments
Colin King
Connor Haley
Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
Evan Tindell
Farmer
Fierce_beast
Fred Liu
Gavin Baker
Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
Maius
Maj Soueidan
marginofdanger
mavix
Mike
Mikro Kap David
Multiples Capital
Myles
Nat Stewart
Negligible Capital
Odd Diligence
Odd Lot Arbitrageur
PAA Research
Pernas Research
Porter Collins
Prepared Remarks
Psyop Capital
Raging Capital Ventures
Red Dog Capital
RiverRoadPartners
Rusholme Capital
Sahil Khetpal
SG
Tim Eriksen
Timyan Bank Alert
Todd Wenning
ToffCap
Trevor Scott
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
- Baron Funds
- Berkshire Hathaway
- Biglari Holdings
- Bireme Capital
- Bristlemoon Capital
- Broyhill Asset Management
- Cantor Fitzgerald Asset Management
- Cedar Creek Partners
- Choice Equities
- Confluence Investment Management
- CrossingBridge Advisors
- Crossroads Capital, LLC
- Distillate Capital
- Dodge & Cox Stock Fund
- Donville Kent Asset Management Inc.
- FPA Crescent Fund
- First Eagle Investments
- Forager Funds Management
- Fred Alger Management, LLC
- Giverny Capital
- Grandeur Peak Global Advisors
- Greenhaven Road Capital
- GreensKeeper Asset Management
- Grey Owl Capital Management
- Halvio Capital
- Hayden Capital
- Heartland Advisors
- Hoisington Investment Management
- Horizon Kinetics
- Intrepid Capital
- Invenomic Capital Management
- Janus Henderson Investors
- Kaydan Wealth Management
- Kernow Asset Management
- LVS Advisory
- Laughing Water Capital
- Lindsell Train Limited
- Macro Ops
- Maran Capital Management
- Markel Group
- Massif Capital
- McIntyre Partnerships
- Merion Road Capital
- Myrmikan Capital, LLC
- O'Keefe Stevens Advisory
- Oakmark Funds
- Palm Harbour Capital
- Palm Valley Capital
- Patient Capital Management
- Pendelhaven Asset Management B.V.
- PenderFund Capital Management Ltd.
- Pershing Square Holdings
- Polaris Capital Management
- Polen Capital 5Perspectives Growth Opportunities
- Polen Capital U.S. Opportunistic High Yield
- Praetorian Capital
- Protean Funds
- RGA Investment Advisors
- Rowan Street Capital
- Royce Investment Partners
- Sequoia Fund
- Southeastern Asset Management
- Third Avenue Management
- Tweedy, Browne
- Upslope Capital Management
- Vulcan Value Partners
- Wedgewood Partners
- Weitz Investment Management
- White Falcon Capital Management
Sectors
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