The market presented some opportunities this morning that I have reacted to. In particular I added to the position in Pagaya which got hit a bit because of the misguided proposals of President Trump regarding interest rates. In addition, Figma shares were down despite positive brokerage comments. I continue to add to the positions in…
Summary Pagaya (PGY) reported a strong quarter with robust outlook, yet shares remain deeply undervalued due to market sentiment and misunderstood SEC filings. PGY’s business model leverages AI for ‘second look’ subprime lending, with expanding partnerships, multi-product growth, and improving credit performance. Valuation is compelling: EV/S of 1.55x, P/E below 6x, and projected 27% revenue…
Earnings are at a high ebb and I am trying to provide some thoughts in a timely fashion on the results of those companies likely to be of most interest to subscribers. This morning I am looking at Pagaya in the light of Upstart’s results, Unity and Dynatrace. As additional earnings are released, I will…
As mentioned in yesterday’s commentary, I was considering adding to the position in Unity Software shares. With this morning’s substantial decline in most IT stocks for a variety of reasons, the opportunity was there to add to the Unity position a day before its earnings release. It isn’t my usual style to do something like…
The fintech sector has been weak this morning and we chose to jump in and add to our holdings in Pagaya, Affirm and Shift4. We entered a limit order in Pagaya shares at $32.01 and it got filled. Honestly, I was surprised. Pagaya shares are now down by more than 21% in the last month.…
We made some changes to the high growth portfolio over the course of Wednesday. Shares of Nebius rocketed. This is partially due to the announcements of the rapid build-out of Project Stargate. Over 80% of Stargate’s $500 billion dollar build out is either completed or under construction. This is far more aggressive than heretofore expected.…
Pagaya shares have dipped considerably since the company’s earnings release. Pagaya has long had a trading pattern that is close to indecipherable as well as the remnants of a legacy ownership base who have used liquidity events to sell shares. It remains underfollowed by brokerage analysts. The quarter and the outlook were what they were…
Both Pagaya and Nebius have reported their financial results for Q2 this morning. Both companies reported strong numbers and both stocks have appreciated. Because of the appreciation, these two companies now constitute a weight of 22% in the high growth portfolio. That is a relatively high degree of concentration that I will monitor carefully. These…
Sale of 150 shares of CyberArk (Entire Position); Purchase of 200 shares of Pagaya; Purchase of 200 shares of Rubrik; Purchase of 250 shares of Samsara; Purchase of 200 shares of Dynatrace; Purchase of 200 shares of Braze; Purchase of 50 shares of Atlassian; Purchase of 20 shares of Monday We have made some changes…
Pagaya preannounced a significant upside this morning on all guided metrics. Here are the KPIs that the company released: Pagaya 2nd quarter preliminary results Prior Guidance Expected results Network Volume $2.3-$2.5 billion $2.6 billion Total Revenue $290-$310 million $326 million GAAP Net Income $0-$10 million $17 million Est. non-GAAP EPS $0.57 $0.74 Adjusted EBITDA $75-$80…