Bireme's @evantindell crushing it. Must-read letter.
https://twitter.com/evantindell/status/1488298966873686016
Short $SPCE
"The worst offender was Virgin Galactic, the stock whose success ignited the SPAC boom.
"Sponsors projected $398m in 2022 sales.
Today, analysts estimate just $8m."
"Insiders have ... unloaded more than $1.7b worth of shares on the public."
"The worst offender was Virgin Galactic, the stock whose success ignited the SPAC boom.
"Sponsors projected $398m in 2022 sales.
Today, analysts estimate just $8m."
"Insiders have ... unloaded more than $1.7b worth of shares on the public."
"The most egregious valuations in the EV space probably belong to the retail charging companies...
Would you pay 50-100x sales for a gas station operator with large capital requirements and massively negative margins"
Would you pay 50-100x sales for a gas station operator with large capital requirements and massively negative margins"
$TME
"investors have punished the stock along other Chinese companies...in reaction to a string of regulatory actions"
This simplistic thinking is an example of “narrative bias,” and is precisely the type of mistake we seek to exploit in the Fundamental Value strategy."
"investors have punished the stock along other Chinese companies...in reaction to a string of regulatory actions"
This simplistic thinking is an example of “narrative bias,” and is precisely the type of mistake we seek to exploit in the Fundamental Value strategy."
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