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Monday, September 21, 2026

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GameStop Is Extreme Deep Value

GameStop's collectibles mix rose to 45% of sales as gross margin reached 44%, supporting a deep-value case built on cash and store economics.

GME $12B
The Value Road 7 clicks

From X

@Fierce__beast 1 click

Fierce_beast on X

$COUR I went to the website of vectorlearn (https://t.co/T8MyEtq5uW) and here is what it says: So they will collaborate closely with COUR and Udemy to create personalized learning with a 100m investment based on a valuation of 300m but who decided it was worth 300m? Also, is this kind of just like investing in R&D since they are collaboratng? This is a nice way for $COUR to not show increased expenses, and also not to show "capex" or "acquistion costs". If had factored this in as an additional expense then their earnings are even lower than i thought
@Fierce__beast 1 click

Fierce_beast on X

i am short $cour -- in the worst case it feels like they should trade at a small discount to their net cash. in the best case, the stock probably does not really do much. interesting even as a case study about large net cash position with a melting ice cube operating business, massive SBC, a big merger, a very low "p/e" the p/e is a bit of an illusion with SBC and a purchase accounting benefit they add back to show good "adj ebitda" margins. by my estimate the business is on track to make -.15/sh of real earnings. if this is true, i also estimate they need to find 45-60m of cost savings to simply break even. this is while NRR for enterprise is consistently collapsing and consumer subscriptions are generating revenues at something like 25% the rate at which they are growing. so maybe they get their deal synergies and get to +.15/sh but how long does that take and it still seems like something has been going wrong with their core business for a while now. linkedin certifications seem pretty solid. for google certifications i think you can just go direct. also the consumer business seems focused on industry certifications, which it seems the big platforms like google is providing at better terms than coursera but have historically partnered with coursera. interesting tug of war there
@BlueDuckCap

BDC on X

$AAPL also prices in the flattering things you've articulated. 35x EPS. Missed on Services revenue w/ a 4 point decel vs a 2 point harder comp. Comp gets harder in September. China revs missed and are slowing. China comps get much harder next year...could easily see 22% growth down to 10% or less. And again, everyone owns AAPL as evidenced by the near 2x market cap appreciation in the last year - thats nearly $2T that's been bought. All the other names have more hair, but much more upside if they continue to execute.

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“Going Through Some Pain”

Dick’s Sporting Goods’ $2.4 billion Foot Locker acquisition nearly quadruples its store count and adds international exposure, risking a…

DKS $12B
TSOH Investment Research 1 click

The Monday Morning Briefing

Latticework’s weekly briefing spotlights discounted European assets including Barco, Bolloré, Brookfield and D’Ieteren, with catalysts…

BN $82B
Latticework by MOI Global 4 clicks
MSI · long

Motorola Solutions INC

Motorola Solutions’ core value proposition remains intact after business changes since 2022, supporting a growth-at-a-reasonable-price…

MSI $76B
Value Investors Club 2 clicks

Brookfield of Dreams

Brookfield is recasting itself from an industrial owner into a $1.3 trillion asset manager and insurer, betting AI infrastructure can…

BN $82B
Net Interest

Groceries, Aggregators, and Agents

DoorDash's grocery push targets a shift from weekly stock-up trips to frequent online fill-in orders, though smaller baskets complicate…

DASH $81B
MBI Deep Dives 1 click

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