Friday, November 13, 2026

Looking Back at Another Successful Thesis

DoubleU Games raised its all-cash tender offer for DoubleDown Interactive minority holders to $16.25 per ADS from $11.25 after net cash made the earlier bid untenable.

DDI $778M

The Value Road 25h ago 4 clicks

23h ago COUR $930M

This Week in Special Situations: Coursera, eToro, Fluor, Trade Desk

Latticework by MOI Global 6 clicks

46h ago LSAK $293M

Quick note on LSAK and GRPN

Mispriced Assets 5 clicks

From X

@david_katunaric 55m ago

Mikro Kap David on X

"Certainly protecting a calf worth more than $2,000 with a $15 product makes a lot of sense today." $ICCC 🐮

@StableBread 56m ago

Fajasy on X

Read the 10-Q on the Q3 leases here: Here's my October 19 update on $BRUN (you can read most of it for free):

@StableBread 56m ago

Fajasy on X

Boost Run $BRUN shows $218.6M of new GPU leases in Q3, and its September 30 lease schedule still implies a ~7% interest rate, the same as the June 30 schedule implied. $BRUN had to put $96.0M of its own cash up front on two of the three GPU leases it signed in Q3: → 36-month lease: $59.2M advance, then $2.7M/month. → 24-month lease: $36.8M first payment, then $4.3M/month. For reference, the $59.2M advance alone is more than the $39.4M of advances across all 34 GPU leases $BRUN signed in H1 2026. In Q3, $88.2M of warrant exercises covered most of the $109.8M of lease principal $BRUN paid, and cash still rose $36.9M to $170.0M ($157.0M unrestricted). All 11.4M warrants are now exercised, and GPU lease payments due from January to December 2027 rose to $186.2M as of September 30, from $103.5M as of June 30. The two big Q3 leases alone add $6.9M/month of payments in 2027. The ~$221M of 2027 payments I counted across $BRUN's signed commitments in my October 19 update is now ~$307M, before the five equipment leases $BRUN signed in October, which require $83.1M of payments over the next two years. Four of those five are six-month leases that end with $39.6M of final payments, 59.8% of their $66.2M of total payments. Against those payments, $BRUN says $482M of customer prepayments are due as upcoming projects deploy. So 2027 now runs on (1) those prepayments arriving on schedule and (2) monthly billings, since the warrant cash won't repeat.

@valuedontlie 2h ago

Colin King on X

Lots of earnings blowups happening (cost inflation finally hitting P&Ls?) $FLO - miss + guidance cut + volumes still falling $PAL - levered acquisition + earnings collapsed $CTVA - sales falling + guidance cut (FMC read-through) $ADIG - first post-spin earnings release + guidance cut = down 50%

@InvestSpecial 4h ago

Dalius - Special Sits on X

$ENGN up 50% in just a few days! Final trial results improved over interim data, but efficacy still trails competitors. The stock has now reached my target, even if the thesis played out differently than expected. Closing this one out at +50%. Pitch on SSI👇

@Mr_Neutral_Man 14h ago 1 click

Mr Neutral Man aka "Howard Marks of REITs” on X

When investing in liquidations, sometimes your security stops trading and gets priced at $0.00 and you have to just ignore how it looks in your brokerage account From a 5 figure cost to $0 in my IRA NOT MY FIRST RODEO!!! $ARI P.S. This illiquidity is kind of awesome!

@majgeoinvesting 15h ago 1 click

Maj Soueidan on X

$LEAT Q3 call no real divergence from the PR. Nice that they repurchased a $182K shares during the first 9 months of 2026. Seems like a gift. Maybe CEO had dinner with $NVDA CEO 20 years ago. But, the comment about geopolitical risks spooked people even though they said business is expected to remain strong.