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Saturday, September 5, 2026

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@ActAccordingly

PAA Research on X

5%+ SSS comps for the core franchise at $CAKE this quarter. The stock was obviously telling everyone about the inflection in trend. I would like to see better comps at North Italia. Flower Child units could grow faster, but it's clear some of the menu changes and technology improvements are yielding better traffic. It's been a long time since they posted a 5%+ comp. SSS + unit growth is a rare breed in consumer land, $CAKE has it. The LLOK trade remains alive and well. @TiberiusCapital
@BlueDuckCap

BDC on X

From the $TOI Q4 call: “That’s actually a very important question and something that we continue to try to drive clarity with our investors on, which is the MA rate cycle and sort of pressure that you’ve seen health plans and full risk, medical groups that are getting a percent of premium face is actually a tailwind for TOI.Our top line Medicare Advantage reimbursement is not a percent of total premium. It’s not impacted by risk adjustment. In fact, pressure on the top line for payers generally causes them to reach out more proactively when it comes to seeking opportunities to provide great care for their patients and good access while also driving improvement in utilization. And so from that perspective, that actually helps our growth. So we tend to get lumped into some of those macro issues with payers, but I just want to make it very clear that, that is actually probably a good thing for TOI.”
@BrokenMoats 1 click

Broken Moats on X

Dispersion trade creating opportunities of fundamentals not matching price: $FDS now higher than the before SaaS (apocalypse) took off. Hard to argue they are not one of the most disrupted names across data services / software $PAYC $PCTY $WDAY - same challenges across software names and pricing / seat pressures. These names also face heavy increased competition from Rippling $EXPE - Hotels going direct has already started and OTAs should see supply pressure and take rate pressure $RNG - Does anyone legitimately believe they're an AI play? Agents don't need calls, don't need phones, and you don't need RNG to provide those agents - especially as every sb and up software provider and crm/erp Many others across software but also in financials, industrials and consumer

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EVC Update

EVC reported a solid second quarter and outlook.

EVC $772M
Nat Stewart - Stock Picking Newsletter 25 clicks

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