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Friday, November 6, 2026

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Post Q3 EVC Update

EVC's Q3 update cites $30 million for a single station, a broadcast-business sale and stronger positioning for 2027.

EVC $832M
Nat Stewart - Stock Picking Newsletter 23 clicks

From X

@InvestSpecial

Dalius - Special Sits on X

$ONT first got hammered on what looked like a temporary earnings blip, completely overshadowing the potential sale thesis. Now another hit. A former employee alleges ONT helped downplay contamination from the 2023 East Palestine derailment. Stock is down another ~25%. It’s starting to look genuinely cheap, but the legal/regulatory overhang is hard to underwrite. A wider investigation, penalties or further civil claims could all follow, and the whole thing could easily complicate the sale process. Glad we didn’t commit here. Any thoughts on the potential exposure?
@convequity

Convequity on X

OpenAI’s TPU lesson makes me more cautious on $CBRS. Richard Ho, OpenAI’s hardware chief and a former TPU designer, says one lesson from Google was that “you have to make it programmable.” Models change too quickly to overfit the chip to one architecture. That caught my attention because TPU is already programmable. Groq statically schedules execution in its compiler, while Cerebras makes a different bet on wafer-scale compute and distributed local memory. The question is how much of the performance advantage survives when models change, including MoE routing and memory demands. Ho also wants hardware that can move across inference workloads without locking the fleet into fixed ratios of specialized machines. That matters when buyers are committing years of capex and power. If OpenAI and other large buyers increasingly favor that flexibility, I expect CBRS to remain a specialist over the next few years. The absolute market can still be large enough for Cerebras to build a very good business, but I’m more skeptical that its architecture becomes the mainstream choice. "As long as you’re willing to live with those limitations, they’re good. But if you’re able to make it programmable, then you have a lot of flexibility for adapting to change. And we had to adapt to change. TPU also adapted to different changes in the algorithm, even at that time with CNNs. Clearly now, in the world of LLMs and agents, the mix is changing pretty rapidly. So that was the pitfall we really wanted to avoid: to overdesign and overfit to one particular model. We looked at it in that context." ---[54] The Man Who Built OpenAI's First Chip TechTechPotato

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Entravision Q3 Update

Entravision’s Q3 ad-tech revenue reached $177.2 million, up 133% year over year, while total revenue rose 88% to $226.3 million and diluted…

EVC $832M
The Value Road 4 clicks

Axon 3Q26 Business Update

Axon cut full-year guidance after delayed federal Dedrone contracts slowed 3Q revenue growth to 28%, while software and services grew 43%.

AXON $31B
Speedwell Memos 3 clicks

GREAT DEC-TECTIVE WORK

Diversified Energy reported $255.6 million of “true” nine-month free cash flow, while its $1.8 billion Birch acquisition would shift…

DEC $900M
The Oak Bloke 2 clicks
AAP · long

Advance Auto Parts INC

Advance Auto Parts, AAP, is presented as a long idea following prior write-ups at $48.81 per share in January 2025.

AAP $2.9B
Value Investors Club 1 click

Trading Post November 5, 2026

MercadoLibre’s logistics expansion cut margins by 60 basis points, while Mercado Pago grew credit 62% with 7% NPLs.

MELI $77B
Cassandra Unchained 2 clicks

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