A Busted Businesses or a Cyclical Bottom?
Two U.S. protein-snacking companies lost $6 billion in market value as impairments, inventory growth and margin pressure test whether the category has reached a cyclical bottom.
Wednesday, September 2, 2026
From X
BDC on X
Subs are the $SNAP inflection nobody has cared about, yet: H/T @Jack64128896 for the find on memories https://t.co/c5FVBZfK4c
SG on X
$MRNA offering $2B of Rule 144 convertible notes but says conversion price tbd. No 8-K so far. Great governance, guys. Keep up the insider sales. https://t.co/JK9PyjstS4
⚽️📡 on X
$SRAD already has deep partnership with Kalshi now adds poly Every other competitor will likely have to follow suit to keep up https://t.co/4zOwxX7fKZ
Lee Roach on X
Hey @elonmusk. Can you DM me $SPCX next quarter EPS? I’m trying to forecast the company in my DCF model. I promise to not trade on this information.
⚽️📡 on X
$OKTA and $CRWD confirmed the agentic inflection has officially begun https://t.co/p9lToGNBvH
Raging Capital Ventures on X
CEO of $PANW https://t.co/GtFSdnj25W
Prepared Remarks on X
Large cap software comps rerating higher OAI / codex accelerating Jensen saying he’s funding the labs next yr $orcl 🚀
JabroniCoin.USD on X
How many times will Peltz rug $WEN with totally not-fake bids? https://t.co/7YmTsnbaZy
Investor Letters
All letters- Palm Harbour Capital July 2026 064850 $131M082920 $890M
- Protean Funds July 2026 DVYSR $103MEVGGF $17B
- Royce Investment Partners year-to-date period ended 6/30/26 BLBD $2BMMS $3B
- Protean Funds June 2026 CINT $223MIDDWF $9.6B
- Alluvial Capital Management Second Quarter 2026 ZEG $5BDGXX $372M
- Sequoia Fund First Half of 2026
- Hayden Capital Q2 2026 AMZN $2.8TGOOGL $4.1T
- Maran Capital Management second quarter SPCX
RDDT 2026-09-02 Reddit: Rapid Earnings Growth With Room For An AI Expansion
Krzysztof Bogdanski 3 clicks
An ATM that starts to spit out cash
Andrada Mining’s Uis ore sorter targets higher tin grades and lower unit costs after FY26 operating cash flow reached £4.7 million, but…
TECX 2026-09-02 Tectonic Therapeutic: Competitor Data Strengthens The TX45 Bull Case
Equity Eagle 2 clicks
EVC Update
EVC reported a solid second quarter and outlook.
$LMB: Limbach missed the data center boom. Is that the opportunity? | 1 Main Capital
Limbach's EBITDA fell 30% as organic revenue declined, but 1 Main Capital calls the weakness temporary and views CYMCOR as its first…
The Bid Shading Threat to Amazon Advertising
Amazon’s $69 billion advertising business faces an FTC lawsuit over alleged bid shading, threatening a revenue stream that grew roughly…
GoPro sold itself at 9:20 AM to get ahead of a meme stock
GoPro rushed out its Starman Optical merger after Markiplier-driven buying sent GPRO up roughly 90% premarket, offering shareholders $1.14…
[WAY – Waystar] Healthcare is a very complicated invoice
Waystar sells revenue-cycle software for a US claims process where roughly 18% of submitted claims are initially denied and healthcare…
Emerge Commerce ($ECOM.V) FINS Review
Emerge Commerce's $44 million COVID-era acquisitions produced losses and impairments, while modestly improved Q2 liquidity leaves its…
FTRE 2026-08-30 Fortrea Holdings: The Turnaround Is Showing Up In Earnings Before Revenue
Manimala Misra 5 clicks
Veeva 2Q’26: “SaaSpocalypse” Cancelled
Veeva beat its $905 million revenue guide with $928 million, up 17.6%, while subscription growth accelerated and GAAP EBIT margin reached…
Microsoft ($MSFT) - Deep Dive
Microsoft’s AI data-center buildout lifted annual CapEx from $5.5 billion in FY2014 to $115.9 billion in FY2026, resetting free-cash-flow…
BE 2026-08-29 Bloom Energy: 5 Links That Cannot Break
Valuation Rewind 5 clicks
NTG Clarity Networks ($NCI.V) FINS Review
NTG Clarity’s $18.6M of Q2 service revenue sat in contract assets, while $4.6M cash burn cut cash to $2.85M and raises liquidity concerns.
Meta Buys Away its Distraction at Minimal Cost
Meta’s $18 billion teen-addiction settlement makes $5.3 billion contingent on YouTube and TikTok adopting matching restrictions, while…
MU 2026-08-28 SK Hynix: Higher Revenue Than Micron, Cheaper Than Micron (Initiating Buy)
Prakhar Agarwal, CFA 6 clicks
Making sense of Sandisk’s long-term financial model
Sandisk’s FY28-FY30 model relies on long-term NAND agreements holding near-80% gross-margin floors despite pricing 26-28% below current…
CMCSA 2026-08-28 After A Decade Of Underperformance, Comcast Is Finally Ready To Rebound
Max Greve 3 clicks
Late August 2026 Random Ramblings
Higher rates could compress equity multiples and raise AI data center lease costs, while UWMC and Cogent raise questions about CEO-driven…
The Verra Sneerer (NASDAQ:VRRM)
Verra Mobility renewed Hertz tolling management for five years. AutoKinex lets rental customers buy tolling, fuel and protection products…
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