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…
One thing about the work I do: is never boring but while not being boring it often requires making sense of the illogical. And it can require lots of patience and fortitude. I, along with many subscribers, have waited for Pagaya to report a quarter without hair. Finally, the day has arrived- and the shares…
A bit of alliteration-perhaps intentional. I have gotten more than a few questions on what tariffs will mean for the market-and very specifically the Ticker Target High Growth portfolio. In the short term I imagine the impact is obvious. The Ticker Target high growth portfolio has fallen about 17% since it hit a high little…
Summary Pagaya’s recent results and strong 2025 outlook hinge on ending write-offs and impairment charges, with management confident in improved visibility and reduced future impairments. Pagaya’s AI-driven subprime lending model, despite past transparency issues and significant impairment charges, shows promise with improved credit standards and a diverse range of lending partners. The company’s strategic partnerships…
The earnings of several tech companies have been released this afternoon. Confluent’s earnings were reasonable, and belied some concerns that have held the shares in check for a few weeks. Guidance, while typically muted was better than feared. Upstart reported very strong numbers and upside guidance; the shares were up 27% pre-market. Surprisingly weak numbers were reported by Blackline, and its…
1) Pagaya I had the opportunity to speak to a couple of the Pagaya management team yesterday. Of course the principal issue that was discussed was the impairment charges. I will begin by discussing what went wrong. Needless to say, I have gotten many questions about Pagaya. Some have questioned the company’s legitimacy. Others want to…
Pagaya shares have cratered this morning in the wake of a poorly received earnings report. The issue is and has been the fair value adjustment which was an elevated $70 million last quarter. This has spooked investors that Pagaya has underwritten loans to borrowers who aren’t repaying. Based on questions I have received, I know…
Last week was no doubt stressful to all subscribers who are or have been holders of Pagaya shares. As the stock fell on Thursday, I arranged a conference call with management. I came away both shaking my head at the share price reaction and being more convinced that the company did the right thing, regardless…
As discussed in the earlier Pagaya post, we took advantage of this morning’s Pagaya valuation implosion and added 800 shares at a price of $10.11. This purchase cost $8095 and brought our margin balance to $287,861. I realize that an 18% loss is painful. That said, I stand by the analysis I presented. I have…