Matan on Stitch Fix
Stitch Fix’s rushed Freestyle pivot cannibalized its profitable Fix business, driving active clients below 3.4 million, quarterly revenue…
Topic
special situations
Everything our editor has picked under this tag, best first.
My Biggest Position: A Monopoly Priced for Failure
A former value-investor darling, down 50%, pairs a monopoly with a recurring-revenue razor-and-blade business; debt paydown, margin…
Gatekeeper Systems ($GSI.V) FINS Review
Gatekeeper Systems’ revenue rebound is overshadowed by $19.3 million in nine-month operating cash burn, swelling inventory and overdue…
Char Technologies ($YES.V) FINS Review
Char Technologies’ Q2 brought $700,000 revenue and a $1.36 million net loss, while weak liquidity, related-party loans and dilution raise…
PUDO Inc. ($PDO.C) FINS Review
PUDO’s revenue rose 35% to $5.6 million, but losses quadrupled as administrative costs outpaced growth; $242,000 of cash and ongoing burn…
Glow Lifetech ($GLOW.C) FINS Review
Glow Lifetech’s Q1 revenue hit a record $643,000, up 35% year over year, while its $9.6 million market cap and fading warrant overhang…
U-Haul Bought at the Top
U-Haul’s pandemic-era fleet purchases at inflated prices now drive higher depreciation and disposal losses as truck and van prices…
IAC and MGM update: part 2
IAC’s spin-off model produced outsized wins in Expedia and Ticketmaster alongside costly disappointments in Vimeo, Match, LendingTree and…
Is the Airline Industry Really That Bad? – AerCap and A Case of Sandbagged Guidance
AerCap sells aircraft at 2x book value and repurchases stock near 1x book, cutting shares outstanding 31% in three years.
Hemnet – Broken Moat or Misunderstood Monopoly?
Hemnet’s Swedish listings monopoly has fallen from SEK420 to about SEK160 as growth slows, leaving investors to judge whether its 90% share…
This Stock Just Got Cheaper on Better Numbers
A debt-free American manufacturer now trades at roughly 7x annualized Q2 EBITDA, with $7.35 per share in net cash and a tender floor 18.5%…
Pepgen INC
PEPGen (PEPG) was bought at $1.40 in February 2025 and sold in the mid-$3s the next business day.
Peloton Interactive INC
Peloton trades near $5.50 with a $2.3 billion equity value and $2.7 billion enterprise value after weak December-quarter earnings and its…
NLOP - I'm Buying Again
NLOP’s selloff after a weak KBR property sale has created a high-potential IRR entry point.
The Priority Technology Situation
Priority Technology received an opportunistic buyout proposal, with its business better suited to remaining public absent a much higher…
The Biggest Bull Signal On Entravision
Entravision’s lost Meta relationship reset its business model, setting up a bullish case for the company’s recovery.
Howard Hughes Holdings INC
Howard Hughes Holdings is pitched as a long in the $60s, with a near-term $90 target and a projected 20%+ IRR.
