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Wednesday, October 21, 2026

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BMBL 2026-10-21

Bumble is being taken private

Bumble agreed to a $6.05-per-share cash sale to Ithaca Holdings, 136% above its October 2 share price.

BMBL $788M
Modern Value Investing 8 clicks

From X

@HaydenCapital

Fred Liu on X

I doubt being an "Irish" company makes a difference. But it's actually not that difficult to list in HK, esp since most of the prep work is done. Don't know if people still remember the 2022 PBAOC de-listing events. But $PDD and others had already filed paperwork to list in HK, and pulled it when audits were approved. https://t.co/ukMsOByVgh I believe they have paperwork ready to go, and the process takes 3-6 weeks. Fully expect them to list in HK, if / when its officially confirmed. ** Worst case is they trade OTC. Volumes get hit, and would be some short-term pain from forced-sellers. But Luckin ($8BN) mkt cap) is trading near all-time highs + trades $80M / day on the pink sheets, and Didi ($17BN mkt cap) still trades $40M / day. Not bad... What matters in the end is just business execution, and higher earnings.
@HaydenCapital

Fred Liu on X

Li Auto is launching in the Philippines (and likely rest of SE Asia). Pictures from yesterday, at Manila's SM Mall of Asia. $LI. Management has talked publicly about Middle East and Central Asia as initial markets, but don't think they've mentioned SE Asia before... According to the sales associate, their first store in BGC is opening end of April, with 3 more locations in following months. Seems the $LI overseas expansion is happening much faster than investors anticipate... L7 priced at 4-4.5M PHP, and L9 at 5-5.5M PHP (+50% more expensive than in China).
@HaydenCapital

Fred Liu on X

Going thru Circle's $CRCL S-1. First pass, it seems Coinbase $COIN is best levered to Circle's $CRCL growth. USDC avg circulation grew +9% y/y in 2024, revenues grew +16%, but profits went down -42%. Mainly because payments to $COIN grew +31%. More and more USDC is held on Coinbase's platform, on which they get a "distribution fee" (18% of total supply vs. 8% in 2023, and vs. Circle's 2%). (The Aug 2023 contract renegotiation helped too. Also assumes continued preference holding USDC on Coinbase's platform). https://t.co/yoWLFOJg3X

Investor Letters

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Why I sold OB pick for 26 SVM

Silvercorp’s falling Ying grades, prolonged GC suspension, El Domo execution risk and Chaarat funding needs weaken its valuation despite…

SVM $1.9B
The Oak Bloke 27 clicks

Vicor Update, Part Three

Vicor’s $66.6 million in AI power-delivery royalties generated about $50 million of operating profit, eclipsing its module business as…

VICR $9.6B
CV's Substack 28 clicks

Carecloud News

CareCloud may attract a private-equity buyer after its Q3 call, with acquiring enough shares the main obstacle to a take-private deal.

CCLD $74M
Calvin Blissett 11 clicks

Heico Corporation

HEICO sells FAA-approved aircraft replacement parts at 30% to 50% discounts to OEMs, gaining customers as restrictive aftermarket contracts…

HEI $46B
D Invests 13 clicks
CHGG · long

Chegg Inc

Chegg is framed as a binary long with 500% upside against 20% downside.

CHGG $77M
Value Investors Club 15 clicks

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