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“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 >It’s a signature of the human condition: two people can look at the same exact thing and have completely different reactions and descriptions as to what it is. This is particularly true of works of art whose value is almost...
READ MORE >Was it really only 5-months ago when TRUP shares surged to $150+ following the announcement that the company forged a partnership with the leading ecommerce platform for pet products, CHWY? ...
READ MORE >We introduced HUSQ.B as a short idea a few weeks ago based on our expectation that the outdoor powere equipment industry has experienced significant demand pull forward, the transition to battery powered products could dilute the company's marigns meaningfully, and demand for...
READ MORE >Our latest RV dealer checks suggest industry demand remains solid while inventory levels have started to normalize. More importantly we think we are moving into an environment were the merits of CWH's strategic growth initiatives introduced over the past 2-3 years should start to shine. ...
READ MORE >“Fortunately, about half of the additional planned capacity has come online this month, with the balance expected by the end of January -- or excuse me, the end of April 2022. Our continuous...
READ MORE >Over the past 20 years, we have become particularly adept at identifying the early stages of a potential “death spiral” for a for-profit education company. From a notional perspective, for-profit education...
READ MORE >“This shift in relative power from manufacturer to retailer has greatly increased the relative importance of price. This increased the importance of being a low-cost producer and added urgency to our need to achieve our cost goals.” Fred Stratton. Former CEO of Briggs and...
READ MORE >Over the past 5-years, Marcus Lemonis and his team at CWH achieved a number of accomplishments including: Increased company revenues by more than 50% Expanded CWH’s leadership at the top of RV...
READ MORE >Will TRUP’s 4Q21 earnings conference call be remembered as the event at which the company’s management team signaled to the investment community that enrollment and revenue growth were on the cusp of a major deceleration? In our view, we...
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 >SHORT
$18
SELL
$60
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
LONG
$128
SELL/SHORT
$10
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
