“I am feeling more positive about the Trex consumer today than I was feeling a year ago” Bryan Fairbanks, President and CEO. Trex Company, Inc. 10/30/23. 3Q23 Earnings Conf. Call Imagine having the unmitigated gall to...
READ MORE >“Again, we covered a lot and provided more color and guidance than we usually do. In that spirit, I want to remind you that we are here today to discuss our financial results and the progress we made integrating Bed Bath & Beyond. We appreciate...
READ MORE >“And we expect currently that, that will be fully rolled off by the end of next year. We are still enrolling new business for Pets Best as we sit here today. So there is still a lot...
READ MORE >In our view there are four issues that are paramount for CWH shares and that will dictate how the stock trades over the short term 1.How much will demand pull forward in 2020-1H22 impact sales of RVs going forward? The RV...
READ MORE >Heading into 2023, we thought the broader industrial complex would be fertile ground for short ideas, particular those companies that generated meaningful revenue, earnings, and cash flow growth through...
READ MORE >Following OSTK over the past 4-years has been nothing short of exhausting. Over the past 6-12 months, we have grown increasingly disappointed and frustrated with OSTK’s execution miscues, market share losses, poorly crafted investor...
READ MORE >“I was at eXp for 3 years, made ICON Agent every year, but the opportunity to build a big downline at eXp is long gone. I went to LPT Realty and have grown from 30 agents to almost 300 in one year. Best thing I could of...
READ MORE >“And then finally, we are, for the first time in our history, overcapitalized, Sometimes, we have cash and we have to put it into risk-based capital as we continue to grow. That is not the case...
READ MORE >Perhaps sell-side analysts and investors still don’t understand the true nature of EXPI’s business. There’s a reason this company has missed EBITDA expectations SEVEN out of the...
READ MORE >Even though we know we would be better off not listening to a single word from the TRUP management team, we simply cannot turn our attention away. It is utterly fascinating to us that a loss...
READ MORE >“And so we feel like the channel is very, very clean right now…. And there's been tremendous discipline. But we're encouraged and optimistic as it relates to really the cleanliness of the inventories and the weeks...
READ MORE >It’s hard to believe but almost three months have passed since TRUP reported disastrous 1Q23 operating results highlighted by a skyrocketing loss ratio and higher than expected cash burn. ...
READ MORE >We spent the better part of Wednesday listening to a gaggle of Trupanion executives discuss their business and the opportunities ahead. From our seat, thousands of miles away, the tension in the...
READ MORE >Very few TRUP investors take the time to review the statutory statements from the company’s primary underwriting subsidiary, American Pet Insurance Company (APIC). We think this is a huge...
READ MORE >On 5/9/23, The California Department of Insurance filed yet ANOTHER Objection Response to Trupanion’s 2023 28% base rate increase request. To put things in perspective, the original rate increase request was filed on 12/6/22. On 2/14/23, American Pet Insurance...
READ MORE >“At Trupanion, we value trust and transparency. These values form the basis of our interactions with all stakeholders, including pet owners, veterinarians and their staff, state regulators,...
READ MORE >Maria Ripps, Analyst Canaccord Genuity Corp., Research Division “Got it. And going back to price increases, I believe there were still a couple of different markets, where they were not...
READ MORE >PAA Research’s April 2023 outdoor power equipment dealer survey
READ MORE >“Yes. I mean, at the highest level, this [the decision to fire the CFO, General Counsel, and EVP of Pricing] comes down to decentralization….” Margaret Tooth, President, Trupanion Inc....
READ MORE >PAA Research's Spring 2023 RV Dealer Survey.
READ MORE >“Looking at our segments, total enrollment at Chamberlain continued to show modest improvement during the quarter, supported by the success of campus-based BSN programs” Stephen Beard, President and CEO...
READ MORE >Yesterday, we published a note outlining the details of a previously undisclosed investigation from the Insurance Commissioner in the State of California related to TRUP’s “pricing policies”. The Insurance Commissioner in California filed an enforcement...
READ MORE >Close your eyes for a moment and imagine a stock with the following dynamics thus far in 2023: The company guided down significantly on both a revenue and EBITDA basis for 2023 The company lost its...
READ MORE >It’s kind of remarkable that TRUP shares are down a meager (-5.4%) since the company reported 4Q22 results, delivered disappointing 1Q23 and 2023 guidance, and announced that it was unwinding the relationship with...
READ MORE >Amidst all of the gibberish about “net promoter score”, Bain consulting books, and nonsense technological assertions, there are some core realities related to EXPI that probably should be...
READ MORE >I'm pleased to report that, as anticipated, the inventory recalibration was completed by year-end. With good participation in the early buy season, we entered the year an upcoming season with inventory...
READ MORE >“It’s absolutely ridiculous that anyone would buy shares in a company after reading an earnings release instead of the annual report” Charlie Munger (Probably) “As...
READ MORE >“We had probably the only thing that was a little bit of a surprise is we had a little bit higher bad debt than we expected. That's typical. Now with the benefit of hindsight, when we have...
READ MORE >“We said on retail 370,000 to 390,000 is our expectation. Wholesale 325,000 to 350,000.” Brian Michael Hall, CFO, LCI Industries. 2/14/23. 4Q22 Earnings Conf. Call “The one thing that I'm noticing that is different than any other soft period...
READ MORE >The year is 2023 and TRUP is no closer to generating profitability than it was when the company went public back in 2014. It’s a remarkable achievement. In 2014, TRUP generated Adjusted EBITDA of (-$10MM), not too far off from the meager...
READ MORE >SELL
$50
LONG
$110
SELL/SHORT
$230
SELL/SHORT
$55
LONG
$70
SELL/SHORT
$4
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0