Friday, September 4, 2026

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.

SMPL $848MBRBR $1B

The Value Road Sep 2 12 clicks

Sep 2 SGMO $60M

Sangamo Bankruptcy (SGMOQ)

Triple S Special Situations Investing 6 clicks

Sep 2 ATMTF $211M

An ATM that starts to spit out cash

The Oak Bloke 7 clicks

From X

@CapitalVoss Jan 11

Voss Capital on X

Voss sends letter to Griffon Corp. ESOP Participants https://t.co/QMI3Y4eEBy https://t.co/BQoMwwmJG5 $GFF

@CapitalVoss Jan 10

Voss Capital on X

$GFF has a 8% five-year TSR, 61% underperformance vs proxy peer group (as of 12/20/2021) Inefficient conglomerate structure costing ~$50 million/year is an unnecessary a drag on ROIC Say-On-Pay approval in the bottom 7th percentile of Russell 3000 companies https://t.co/vgdW4EiTJf

@CapitalVoss Jan 10

Voss Capital on X

We believe our five-step plan for $GFF would unlock ~$50/share in value for shareholders if appropriately and promptly implemented More at: https://t.co/NcRxwvJdzO

@CapitalVoss Jan 10

Voss Capital on X

Voss Capital Sends Letter to $GFF Shareholders Exposing Underperformance, Condemning Outdated Corporate Governance and Outlining Clear Path to Value Creation https://t.co/i26Z85zfMf

@CapitalVoss Nov 24

Voss Capital on X

@alluvialcapital Um, you don't need to go to Poland. Here are the US listed stocks that fit your criteria. $ABG, $BXC, $BLDR, $LPX, $RCII, $VSTO, $BKE to name a few. https://t.co/VLTbA5S9u8

@CapitalVoss Nov 23

Voss Capital on X

Voss Nominates Three Candidates for $GFF Board -- We believe the stock is worth $50 & the best way to remedy the perpetual conglomerate & governance discount is to take the following steps: ▪ Immediately refresh the Board with truly independent directors who will hold management

@CapitalVoss Nov 2

Voss Capital on X

$WU calling out Latin America and Mexico as the brightest growth spots this Q. Great read through for $IMXI. "Latin America was probably the one brighter spot that continued to recover a little bit from last year because Latin America has less relative digital business growth"

@CapitalVoss Aug 9

Voss Capital on X

$IMXI is consistently outgrowing hedge fund favorite $MGI and $WU by about 20%. https://t.co/gzDwGH3TOU

Investor Letters

All letters

Tectonic Therapeutic: Competitor Data Strengthens The TX45 Bull Case

Tectonic Therapeutic's TX45 CpcPH-HFpEF program gains support from Merck's CADENCE data; Phase 1b hemodynamics and cash through Q1 2029 set…

TECX $522M

Equity Eagle Sep 2 2 clicks

EVC Update

EVC reported a solid second quarter and outlook.

EVC $725M

Nat Stewart - Stock Picking Newsletter Sep 1 15 clicks

$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…

LMB $610M

Yet Another Value Podcast Sep 1 9 clicks

IEH Corporation: Research Note

IEH Corporation won $6.5 million of APKWS orders, lifting backlog above $45 million as defense connector demand drives capacity expansion.

IEHC $69M

Atrium Research - Equity Research Sep 1 1 click

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…

GPRO $260M

Yet Another Value Blog Sep 1 4 clicks

Six Flags And United Parks: Two Different Answers To The Same Demand Problem

Six Flags’ attendance rose 4% while comparable crowd intensity was nearly flat, and both it and United Parks grew deferred revenue about 2%…

FUN $1.3BPRKS $1.5B

Sanjay Swamy Sep 1 1 click

[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…

WAY $4.9B

scuttleblurb Aug 31 5 clicks

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…

EMCMF $11M

Wolf's Substack Aug 30 6 clicks

Ultragenyx ($RARE): A Catalyst-Driven Thesis With Asymmetric Upside

Ultragenyx targets $730-760 million of 2026 revenue after GENGLYCOS approval, with UX111’s FDA decision and GTX-102 Phase 3 data due in…

RARE $1.4B

Hated Moats Aug 30

FTRE 2026-08-30

Fortrea Holdings: The Turnaround Is Showing Up In Earnings Before Revenue

Fortrea’s adjusted EBITDA rose 24% in H1 as cost cuts outpaced a 3.4% revenue decline, while new business awards increased 19%.

FTRE $1.9B

Manimala Misra Aug 30 2 clicks

TOYO · short

Toyo CO LTD

TOYO CO LTD is the target of a short thesis.

TOYO $187M

Value Investors Club Jun 5

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.

NYWKF $12M

Wolf's Substack Aug 28 8 clicks

AMPX 2026-08-28

Amprius: A Better Entry Point After A 50%+ Decline (Rating Upgrade)

Amprius Technologies, after a 50% decline, reported 125.7% revenue growth and raised 2026 guidance to at least $140 million as…

AMPX $1.4B

Kurt Christensen Aug 28 1 click

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…

UWMC $1.9BCCOI $398M

Yet Another Value Podcast Aug 27 13 clicks

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 $505M

The Oak Bloke Aug 27 6 clicks

BHVN 2026-08-27

Biohaven: Sale Of Opakalim Rights To SK Biopharmaceuticals Makes Sense On Many Levels

Biohaven’s $795 million global opakalim licensing deal with SK Biopharmaceuticals boosts cash, lowers R&D spending and extends its funding…

BHVN $2.1B

Edmund Ingham Aug 27 1 click

Miami International Holdings (MIAX)

Miami International Holdings, the No. 4 options exchange with 17% share, trades at 12x forward EBITDA despite 35% revenue growth, 54%…

MIAX $3.6B

Sylence Capital Aug 27 1 click

Domo (Arigato), for this potential multi-bagger options trade

Domo’s $400 million sale to Progress would leave a cash-rich public shell with $900 million of NOLs; January 2028 $5 calls cost 22 cents.

DOMO $167MPRGS $1.9B

Triple S Special Situations Investing Aug 27 3 clicks

FUFU 2026-08-27

BitFuFu: A $93 Million Liability No One Can Explain

BitFuFu’s $93.4 million unexplained long-term payable equals 57% of liabilities, overshadowing sharply higher self-mining and hosting…

FUFU $245M

Dorine Cherop Aug 27

No Paywall: CDTi Advanced Materials: Two Supermajors and Twelve Months of Cash

CDTi Advanced Materials has $804,000 of cash, roughly 12 months of runway, and unproven maritime methane technology despite ExxonMobil and…

CDTI $9.3M

Guardian Research Aug 26

Friday, September 4, 2026

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