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“Let me map it out because I know it can be a little difficult. So we had going through the third quarter 7% rate. During the third quarter and into October, we did additional filings, which now brings what we...
READ MORE >There has been a covenant of sorts between TRUP management and the investment community, at least those that are willing to take a leap of faith on the company’s stock. TRUP management crafted a narrative around low TAM penetration of pet insurance in the...
READ MORE >Here are some fun facts: EXPI missed consensus EBITDA expectations in four of the past five quarters 12-months ago the consensus estimate for EXPI’s FY22 EPS was $0.78. We now estimate...
READ MORE >“You think you’re better than me?!!” Now former TREX employee to Bryan Fairbanks, President and CEO. Trex Company, Inc. (Probably) Imagine you worked for TREX at their...
READ MORE >“Where’s all the stores? Ain’t Dere no more!” Benny Grunch and the Bunch. WWLTV New Orleans https://www.youtube.com/watch?v=gb_dE9oKSN4 NINETEEN. That’s the...
READ MORE >Heading into UFPI’s 3Q22 earnings release, we thought the company’s quarterly results would show some early cracks and indicators of significant pricing pressure, volume deceleration, and gross margin compression to come.
READ MORE >Over the past week, TRUP shares have been noticeably weak, underperforming the broader indices by roughly (-14%). In the past we would expect a high beta, TAM/growth story like TRUP to generate 5-10% returns in a scenario in which the indices rallied...
READ MORE >Attached please find a report which outlines the findings from our latest survey of outdoor power equipment dealers. We are reducing our estimates for FY23 and FY24. We have lowered our price objective for HUSQ.B to $50, which is based on a...
READ MORE >“We believe UFPI is a great long-term investment. I don't want you to wake up 1 day and say, "I wish that Matt had told me more about that UFPI opportunity." Regret can be tough. So I'm telling you...
READ MORE >“By all measures, Trex performed exceedingly well in the second quarter.” Bryan Fairbanks, President and CEO. Trex Company, Inc. 8/8/22. 2Q22 Earnings Conf. Call If you have a “Wall of Fame”...
READ MORE >Aside from profitless prosperity, there is one thing that TRUP management truly has mastered: narrative. It’s absolutely remarkable that the company still has a market cap approaching $3.0B when the only thing that TRUP has demonstrated...
READ MORE >“In our RV end market, we have seen an industry-wide restocking of dealer inventories approaching pre-pandemic levels. We are beginning to see OEM production react accordingly. We currently estimate full year 2022 RV wholesale unit...
READ MORE >Truth be told, when we hopped out of bed this morning and quickly reviewed OSTK’s 2Q22 operating results we started to gird ourselves for another day of frustration and grew worried we might see a...
READ MORE >“As I said a moment ago, we've seen a significant inflection in demand in our U.S. Higher Education segment. Inquiry volume is up more than 20% from the prior year. And within Strayer...
READ MORE >The attached report details our short thesis on TREX and outlines the feedback we received from our latest survey of decking products dealers.
READ MORE >Yesterday, JAB Holding Company announced the largest acquisition in the history of the pet insurance industry. Through the transaction, JAB will acquire the Crum & Forster Pet Insurance Group and PetHealth Inc. from Fairfax...
READ MORE >TREX shares have declined nearly (-60%) thus far this year largely due to a widespread rerating of growth stocks following a near unprecedented increase in interest rates. Remarkably, even after the enormous decline in TREX shares over...
READ MORE >Another quarter and another 20-25 minute earnings conference call where ATGE management attempted to blame COVID19 for all of their demand and operational woes. There is no doubt that COVID19 has created a significant headwind for demand for nursing...
READ MORE >For the past two years, we have listened to criticism after criticism of Marcus Lemonis and Camping World. Skeptics typically bring up the following issues when criticizing Marcus, his...
READ MORE >We lack imagination as investors. It is the hallmark of every bull and bear market that we underestimate the upside and cannot fathom the downside for the companies in which we invest long or short. This statement not only...
READ MORE >“Let me map it out because I know it can be a little difficult. So we had going through the third quarter 7% rate. During the third quarter and into October, we did additional filings, which now brings what we...
READ MORE >There has been a covenant of sorts between TRUP management and the investment community, at least those that are willing to take a leap of faith on the company’s stock. TRUP management crafted a narrative around low TAM penetration of pet insurance in the...
READ MORE >Here are some fun facts: EXPI missed consensus EBITDA expectations in four of the past five quarters 12-months ago the consensus estimate for EXPI’s FY22 EPS was $0.78. We now estimate...
READ MORE >SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
LONG
$128
SELL/SHORT
$50
SELL/SHORT
$50
SHORT
$50
PAIR TRADE
$10
PAIR TRADE
$30
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$14.00
SHORT
$22
SHORT
$100
