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Monday, October 26, 2026

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The Data Center Bridge

Small- and mid-cap data center stocks trade as one despite sharply different funding bridges: 12 of 15 cover fixed costs on signed contracts, but 10 cannot do so today.

FRMI $1.6B
CV's Substack 16 clicks

From X

@calvinblissett

Calvin Blissett on X

Ever since I started following $CCLD I thought it was a great LBO candidate. This thing belongs in a PE portfolio and whoever LBOs will do very well, I would love to participate. $85m market cap, around $120m EV roughly. Can support a lot of leverage due to subscription/reoccurring cash flows. It is cheap in absolute (circa 3x FCF). It is at 1/4 the average multiple arguably worse peers have transacted at (maybe even less by now). Long runway for continued acquisition playbook (management said constantly evaluating 2k opportunities). Acquisition playbook targets distressed RCM companies, cuts costs due to CCLD offshore cheap labor and cross and upsells to existing sticky customers, $CCLD offers a broad suite of products and are implementing adn devloping AI products. Acquisitions earn 20-40% in 6 months. Prices paid are .5-1x Revenues way towards the lower end. Risk: 2026 guidance requires aggresive H2 and cybersecurity incident If anyone is interested in a LBO or pushing for a sale, please reach out, I have done and will do extensive diligence.
@calvinblissett

Calvin Blissett on X

I listened to all Whitney Wolfe Heard interviews, that gave me a lot of confidence she would/will improve the consumer experience relentlessly, the business wasn’t/isn’t declining as much as perceived or sentiment makes it out to be. Even if it continued melting at the current pace and never growing the FCF would create immense value for equity holders. I don’t think it will continue melting though as they update and iterate on the experience and resume marketing spend. I think resuming marketing spend would be a big catalyst in terms of returning to growth that wasn’t reflected in the stock . $BMBL

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Molina & Kinsale

Molina Healthcare and Kinsale Capital’s earnings are reassessed through a long-term lens, emphasizing conviction and detachment during…

KNSL $8.1B
Bearstone 8 clicks

MYR Group q3’26 Earnings Preview

MYR Group’s Q3 2026 preview cites data-center and power transmission demand, with long-term service agreements supporting margin growth and…

MYRG $4.2B
Monte Independent Investment Research 6 clicks

Mosaic, Part One: The Story

Mosaic’s history traces the 2004 Cargill-IMC merger and the phosphate and potash mines that shaped NYSE: MOS.

MOS $5.8B
Latticework by MOI Global 34 clicks

Mosaic, Part Two: The Deep Dive

Mosaic, NYSE: MOS, is the subject of a second audio program for professional investors analyzing fertilizer producers.

MOS $5.8B
Latticework by MOI Global 5 clicks

Unicycive (UNCY):

Unicycive’s oxylanthanum carbonate NDA earned a March 25, 2027 PDUFA date after two manufacturing-related rejections, with no FDA clinical…

UNCY $98M
Triple S Special Situations Investing 4 clicks

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