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Monday, November 9, 2026

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STRL: 80 new electricians a week

Sterling’s $4.1 billion backlog faces Texas permitting risk after a governor proposed a moratorium, while Connexion, Capital Asset Planning and BQE Water present concentrated, cash-heavy…

STRL $7.6B
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From X

@convequity

Convequity on X

In our view, $MNDY needs customers to pay for agent work, not just human seats. MNDY sits on Route 2 of our SaaS Survival Scorecard, contested optionality. Sticky workflows help, but coordinating other SaaS applications is increasingly something an external agent can do. An agent can now perform much of the typing, summarising and routing that once required someone to open a board. MNDY's opportunity is to capture customers' unwritten knowledge of how work gets done, which could make its agents harder to replace. We estimate AI ARR at $20-30 million, well behind selected AI-native leaders despite an established customer base. We think growing revenue-linked work could outweigh human-seat losses if MNDY captures enough revenue through API capacity, AI credits and future agent charges. A larger investment case requires evidence that paid agent work can sustain growth and attractive margins.
@convequity

Convequity on X

$TSEM Tower Semiconductor's edge is joining chips that move data with light to the electronic chips that drive them, and it has added capacity more successfully than we expected. Next-generation optical links need those two chips to exchange more data inside a shrinking space. In our view that difficult integration, not simply rising demand for fiber or transceivers, is the source of Tower's growing advantage. Hybrid bonding joins the chips through densely packed electrical connections so large amounts of data move between them in a compact package. We regard Tower's capabilities here as effectively unmatched among Western suppliers. The added capacity lets Tower fill more orders itself, leaving less business for competitors. Customers have less reason to switch to a supplier whose technology they consider weaker when Tower can meet their needs. Our conviction rests on Tower's technology. Deeper dive available at Convequity.

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Vicor Update, Part Four

Vicor’s Federal Circuit hearing put Foxconn’s disputed patent license under pressure, reinforcing its AI server royalty model and licensing…

VICR $6.8B
CV's Substack 2 clicks

Floor & Decor 3Q26: Business Update

Floor & Decor’s 3Q26 sales rose 3% while comparable sales fell 1.4%; it cut 2027 openings to 10-15 as high mortgage rates pressure…

FND $5B
Speedwell Memos 1 click
MTMTY · short

Metlen Energy & Metals PLC

Metlen Energy & Metals faces a 40% short case centered on its overpriced aluminium, alumina and Greek power businesses.

MTMTY $6.8B
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