NYSE
RNG
4 stories
$6.5B Market cap · 2026-10-07
Anyone have any suggestions how Muse and Grokbot and more versions to come of agent personal assistants is bullish of communication stocks like $RNG and $FIVN? Took out some of the intermediary businesses like $EVER and some pressure on $EXPE earlier in the day but seems next level is EXPE, some of the insurance brokers, and then phone communication systems seem at the top of losers from changing engagement and channels for B2C and B2B comms
still feel the rotation from July-current is more about a short squeeze (the opposite end of the Situational Awareness portfolio) and the dispersion of having to unwind the long semi trade portion. But that rubber band is similarly stretched as it was the opposite direction at the end of June. Still feel its in the process of reversing (even the morning action today looks like a top could set in?) $RNG, $IT, $APPN, $TGT, $EXPE, $FDS, $PAYC, $ELF, $MET, $MFC, $GDDY, $V, and many more that were AI losers that have had incredible runs in the past 4-6 weeks seem like good ways to be short against a snap back to AI or a more seasonal unwind from policy risk trying to control rates, midterm/fall seasonal factors, etc. Especially with SaaS earnings taking the stage later this week and next (overshadowed by $NVDA on Wednesday)
Weird world to watch $RNG as the new memory stock. How much longer we think the squeeze in all things people were short 6 weeks ago lasts....getting pretty crazy to watch $WDAY climbing to $185. Doomsday at the lows, but not totally off base to reset off true profitability after years of sbc adjusted multiples. But the risks still remain, that structurally the barrier to generating code is lower, competition will increase as a result. And while there are advantages to certain players installed bases and data the moats have eroded to various degrees. Does anyone actually believe we need more phones, and more base level contact services in the future ($RNG) I doubt so. Its a pretty impressive counter trend, squeeze move against a clear trend (the reversal of May and June) but if you've benefited here from these rebounds I think you would be crazy to not only book profits but not find short exposure in this area, many of these companies even if they surrvive and can pivot to being ai beneficiary will go through some tough times in the coming few years as the prices decline for models and compute access
Dispersion trade creating opportunities of fundamentals not matching price: $FDS now higher than the before SaaS (apocalypse) took off. Hard to argue they are not one of the most disrupted names across data services / software $PAYC $PCTY $WDAY - same challenges across software names and pricing / seat pressures. These names also face heavy increased competition from Rippling $EXPE - Hotels going direct has already started and OTAs should see supply pressure and take rate pressure $RNG - Does anyone legitimately believe they're an AI play? Agents don't need calls, don't need phones, and you don't need RNG to provide those agents - especially as every sb and up software provider and crm/erp Many others across software but also in financials, industrials and consumer
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