ContextLogic Acquires gChem (LOGC): Update and Valuation
ContextLogic will acquire specialty-solvent maker gChem for $850 million, funded by a $650 million rights offering and $250 million of debt, expanding Abrams Capital’s acquisition platform.
Tuesday, September 8, 2026
Back to today 
From X
Lee Roach on X
Once again an awful day to be a 200-IQ $BUR holder
Trevor Scott on X
wasting money at $COST .ca is so fun https://t.co/38Effra3Xt
A Capital on X
$VRRM *
BDC on X
Elon commenting on Spiegel’s post - first time that’s ever happened. Maybe it’s something. Probably not anything. But add it to the mosaic. $snap https://t.co/ofuZxr4UK7
Trevor Scott on X
$MCD traded at 15x PE in 2012, when just 81% of stores were franchised. Today 95% are franchised, the balance sheet is twice as levered and they have already raised prices far faster than competitors. Is this a table pounding idea at 19x NTM pe? https://t.co/whFq0xVa5y
PAA Research on X
@TopCornerInvest Thanks. It wasn't based on the quarter. There's more to go here. $MUSA $CASY
Trevor Scott on X
$FICO could have just kept quiet and slowly raised prices. Instead they jacked it up 17x over 5 years and lost their 30 year monopoly. 'Anyone that has a monopoly will pretend that they're in incredible competition.' - Peter Thiel https://t.co/fCCphiaSox
Investor Letters
All letters- Pendelhaven Asset Management B.V. Q3 2026 DR0 $469MALM $4.2B
- Akre Capital Management, LLC Q3 2026 AMT $82BMA $487B
- Bristlemoon Capital Q3 2026 SNDK $276B
- Fred Alger Management, LLC Q3 2026 AMZN $2.8TGOOGL $4.3T
- Protean Funds August 2026 BVNKF $2.4B
- Janus Henderson Investors July 2026 KLAC $243BMCK $104B
- Asset Value Investors Ltd July 2026 4549 $498M9301 $3.3B
- PenderFund Capital Management Ltd. July 2026 NEO $1.1BVNP $1.9B
WD #357: Tecnoglass/Tariffs, Colombia Mining Boom?, Airports & Airlines
Tecnoglass could recover tariff- and FX-hit margins as U.S. blanket tariffs on Colombian goods lift.
A quick update on Deep Dives
MBI Deep Dives will update prior company analyses through year-end, beginning with Uber, while deferring new work on Micron and S&P Global.
lululemon: An 18% Crash Is Not A Buy Signal
Lululemon’s Americas revenue fell 8% and comps dropped 12%, while a $134.5 million tariff refund masked weakening underlying margins after…
On the Pulse 1 click
Celsius: The Pepsi Put
Celsius holds 20% of the U.S. energy-drink market and 40% of sugar-free sales, but its $1.65 billion Alani acquisition complicates…
On Holding $ONON: I Bought the Shoes First, Then the Stock
On Holding $ONON combines a high-margin direct-to-consumer footwear model with replacement-driven demand, after Q2 2026 sales rose 21.6%…
National Vision Holdings: Higher Ticket Prices Can't Mask Falling Foot Traffic
National Vision Holdings' 2.2% same-store sales growth masked a 4.9% transaction decline, while inventory rose 37% and deferred marketing…
Number Cruncher 1 click
Titan Mining Q2 Update
Titan Mining reported Q2 revenue of $25.7 million and adjusted EBITDA of $9.6 million as zinc output rose, while advancing its Kilbourne…
Preview of the Week Ahead: W/C September 7, 2026
U.S. CPI and PPI headline the September 7 week as the S&P 500 holds key averages, Bitcoin faces $82,000 resistance and gold tests its…
X-Energy Could Be Building One Of Nuclear Energy's Most Valuable Platforms
X-energy targets $1.8 billion in annual revenue and more than 42% gross margins by 2032 through reactor IP, project services and…
Simple Investment Ideas 2 clicks
AppLovin Deep Dive: Not A No Brainer
AppLovin is down 48% YTD after its first guidance miss, with revenue 1% below expectations and EPS 2.5% short, reviving fears of an adtech…
MPTI · long M-tron
M-Tron Industries is pitched as a long on its sole-source role across more than 40 missile, radar and aerospace programs.
JBG Smith
JBG Smith trades at an estimated 40% discount to NAV, backed by National Landing multifamily assets, Amazon HQ demand and $1.3 billion of…
MNST Trading Below $53 Offers Nearly Risk-Free Return
Monster Beverage’s modified Dutch auction lets odd-lot holders buy 99 MNST shares below $53 and tender them at $53 to $60.
Some Thoughts on Roaring Kitty
Roaring Kitty’s GameStop resurgence revisits GME shareholder activism and the meme-stock trading episode, with references to Bed Bath &…
(I)nbound (M)igrants (X)panding (I)nternational Remittances
International Money Express trades at roughly 5x forward EV/EBITDA despite growth, modest leverage and excess cash available for…
A Mexican Blue Chip Bargain
Grupo Herdez, a MXN 15.2 billion Mexican food company, pairs dominant grocery brands with McCormick, Barilla and Hormel joint ventures.
Quality Investing Outside the Blue Chips
Rand Worldwide, an Autodesk reseller, grew revenue from $116 million to $306 million while using less equity; expired three-year…
Sarepta Risk and the FDA
Sarepta’s Exondys 51 approval despite a 12-patient trial frames FDA regulatory risk and a call to remove Commissioner Robert Califf.
A Value Trap, an Ancient Stock Pitch, a Glimpse Into The Past
Four Corners’ insider-backed asset sale cut shareholder proceeds to roughly 80% of its prior share price. A 2016 Wilh.
Does anyone remember when Alnylam went up 50 percent in a day on a phase three result
Alnylam’s 2022 50% phase-three gain faces FDA advisory-panel scrutiny over its amyloidosis drug’s label extension.
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Deep Sail Capital
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DOMO Capital Management, LLC
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JabroniCoin.USD
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Lee Roach
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Mike
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SG
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ToffCap
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- 1851 Capital
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