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Wednesday, August 26, 2026

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@ActAccordingly

PAA Research on X

Pretty violent breakdown in the $MTUM and $SPMO ETFs. As you would expect they are now memory heavy indices and won't see a reset of their holding for a while (3rd/4th week of september for both ETFs). Momentum is having a historical selloff which of course was preceded by an unprecedented run (100% outperformance for the $SPMO over the past 3-years relative to the $SPY - never happened before). The charts look awful and the 50-day moving average has been breached. Not good for momentum of the momentum....
@BlueDuckCap

BDC on X

$STIM owns the largest Spravato clinic footprint in the country. FWIW. Greenbrook TMS— it operates ~95 company-run "Treatment Centers" across the US that administer both NeuroStar TMS and Spravato directly to patients, and it explicitly markets itself as the nation's leading provider of these treatments, with over 60,000 patients treated and 2 million+ treatments delivered. That's the closest thing to a "largest clinical distributor of Spravato" in the public markets
@BrokenMoats

Broken Moats on X

Someone really going to need to explain how Stripe buying $PYPL is also bullish for $XYZ? Venmo now gets unlimited funding, a direct consumer facing application for the biggest player in payments, and the optionality of their checkout/pos business if they want to scale and invest aggressively their for that (like pushing their stable coin initiative that would be well received by retailers). Would think the correct framework for this deal is it is net negative the entire payment space as a new entrant has new pathways to compete and disrupt ($TOST, $STNE $FOUR etc included)

Investor Letters

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NCLH or her grandma Saga?

Norwegian Cruise Line’s $15 billion debt and 2026-27 capex delay deleveraging, despite fuel-efficient new ships and stronger projected 2028…

NCLH $6.5B
The Oak Bloke 13 clicks

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…

JMIA $938M
Triple S Special Situations Investing 13 clicks

Stock Trade Compilation Diez

E.W. Scripps, Team Internet, Monro, doValue and Inter & Co feature as special-situation trades involving mergers, asset sales, leverage and…

SSP $292MMNRO $422M
Triple S Special Situations Investing 9 clicks
OFRM · long

Once Upon A Farm Pbc

Once Upon a Farm (OFRM) makes organic baby food, smoothies and kid snacks using high-pressure processing instead of heat pasteurization.

OFRM $695M
Value Investors Club

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…

EVC $727M
The Value Road 13 clicks

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…

NAVI $855M
Capital Employed 9 clicks

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…

DEC $983M
The Oak Bloke 7 clicks

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