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Sunday, August 30, 2026

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Emerge Commerce ($ECOM.V) FINS Review

Emerge Commerce's $44 million COVID-era acquisitions produced losses and impairments, while modestly improved Q2 liquidity leaves its balance sheet and capital needs under scrutiny.

EMCMF $11M
Wolf's Substack 6 clicks

From X

@majgeoinvesting

Maj Soueidan on X

Just finished going over the $BWEN Q2 earnings script. There might be a glimmer of hope it to keep it interesting in the short term: •Unfortunately, 19% EBITDA industrial segment margins will “fall to more normal levels.” For the last three years, that’s ranged between 11 and 15%. However, revenue will be above historical levels. •Backlog is exceptionally strong, with visibility out to 2028. These guys have never had that kind of visibility. •It looks like a chance for profitability comes from me two scenarios. 1). Aggressively growing the industrial segment because it doesn’t look like margin expansion will occur. 2). The gearing segment EBITDA margins have been historically low, under 10%. So an expansion there, while also getting revenue growth might be interesting. •As far as acquisitions go, I’m not holding out for them finding a great deal. You have to think that valuations will be extended. I would actually prefer them to take their time, by being patient and growing organically - filling some of the available capacity they have right now. •In the end, it’s all about margins for these guys. They really have had a hard time keeping them stable.

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The Verra Sneerer (NASDAQ:VRRM)

Verra Mobility renewed Hertz tolling management for five years. AutoKinex lets rental customers buy tolling, fuel and protection products…

VRRM $536M
The Oak Bloke 6 clicks

The Junk (Mail) Merger Arb

Star Equity’s $5 per-share Harte-Hanks acquisition offers $2.50 cash plus 0.25 STRRP per share after proration, against a $2 break price.

STRR $37MHHS $35M
Triple S Special Situations Investing 8 clicks
EGO · long

Eldorado Gold CORP

Eldorado Gold (EGO) is a long-life gold and copper miner with a rare growth profile across precious and base metals.

EGO $12B
Value Investors Club 3 clicks

Core Memory

Airbnb Experiences faces a supply bottleneck from manual approvals, while a farm host raised her price from $15 to $25 after stronger…

ABNB $90B
MBI Deep Dives 9 clicks

Walmart’s Evolution

Walmart says Medicare Maximum Fair Price rules will cut FY27 US comps by 125 basis points, while pharmacy margins and prescription volumes…

PYPL $45B
MBI Deep Dives 4 clicks

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