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EXPI: As Good As It Will Ever Get? Now EXPI Faces the Struggle of Trying to Become a Real Brokerage Firm

March 12th, 2021

“I think, even starting in early 2020, we really backed off the top line number of 10% gross margin for core brokerage, just because as we learned more about how all this mixes together, it would be tough to...

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EXPI: As Good as It Will Ever Get? Someone Needs to Tell EXPI’s New Agents That Downline Opportunities for Passive...

November 12th, 2020

Following a quarter in which EXPI added more than 4,700 agents, generated more than $23.6B in transaction volume, and of course increased the share count by 3MM, there’s really only one...

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EXPI: When Stock Price Is Your Only Fundamental, It’s Time To Sell; Introducing EXPI as a Short Idea with a Price...

September 28th, 2020

The stock market has been extraordinarily kind to “fake it until you make it” stories that operate in large total addressable markets (TAM).  If you run a long/short book in any...

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Current Ideas

OSTK

LONG

$128

EXPI

SELL/SHORT

$10

CWH

LONG

$64

PRDO

SELL/SHORT

$8

CM

SELL/SHORT

$50

RY

SELL/SHORT

$50

ARC

LONG

$5.50

AYI

SHORT

$50

STRA

SELL/SHORT

$63

BIG

SHORT

$28

TREX

SHORT

$36

WWE

LONG

$65

XOXO

LONG

$37

RLGY

PAIR TRADE

$10

RDFN

PAIR TRADE

$30

BCO

LONG

$35

ING.PA

SHORT

$35

TRUP

SELL/SHORT

$10

CTC

SHORT

$101

ATGE

SHORT

$15

HCG.TO

SHORT

$0

RON.TO

SHORT

$9

ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

TTC

PAIR - LONG BGG/SHORT TTC

25%

Z

SHORT

$14.00

NA.TO

SHORT

$22

ZU

SHORT

$15

TRLA

SHORT

$20

MCRS

SHORT

$31

APOL

SHORT

$35

OPEN

SHORT

$30

KNL

PAIR - LONG KNL/SHORT MLHR

25%

CSGP

SHORT

$100

GCA

LONG

$8

IPSU

LONG

$20

MLHR

SHORT

$22

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

$0

HNI

SIG

RGR