Selling our position in Upstart and replacing it with shares of Pagaya I had commented in past weekly portfolio reviews that I planned to swap out the position in Upstart for a holding in Pagaya. I kept waiting for a good opportunity, but eventually I decided to make the switch today after Pagaya received favorable…
We have made some changes today in the high-growth portfolio. It is not my intention to provide suggestions in the high growth portfolio on a trading basis. I get those things wrong many, many times. There are companies that I should have placed into the high growth portfolio, but haven’t and vice versa. On the…
Monday.com Monday.com reported another quarter of upside results on Monday, May 15. Specifically, revenues of $162 million, compared to its prior forecast for revenues of $155 million. In turn, the company reported non-GAAP breakeven for the quarter, compared to a prior forecast a non-GAAP loss of $18 million. The company doesn’t forecast cash flow, but…
I have gotten several questions from subscribers who have been long-suffering holders of Upstart. The questions have been basically, do we get out now after this share price spike, or do we continue to hold. At this point, the shares have backed down a little since the opening and are trading up 30%. That said,…
Upstart shares are up by as much as 20%+ as I write this Wednesday morning. No, that isn’t a typo. And no, that in no way is a reflection on the company’s operational performance or guidance. The guidance was just as bad as the headlines portray. The company simply doesn’t have the current capacity to…
Some modest portfolio reshuffling. I have gotten a few questions today about what is happening with some of the stocks in our high growth portfolio. In particular, shares of Affirm are up nearly 25% as I write this while shares of Upstart are up more than 28%. Both stocks have shown exceptional share price appreciation…
Affirm: Can it satisfy investors in a fraught environment Investing in the fintech space has not been good for the performance of a portfolio during the past 14+ months. Supreme understatement, I suppose. Depending on the definition of fintech, most of the group has imploded. In terms of winners, there has been Shift4 Payments (FOUR) and…
Upstart’s quarter and guidance-the good, the bad and worse I am not, by nature, a contrarian. And I imagine the foregoing article will be controversial and elicit some negative comments. I have obviously recommended Upstart shares over time, and I have most recently done so in May, after the company guided down. Despite some caveats at the…
Upstart, one of the principal fintech names on which we have focused, and a component of our high-growth portfolio, preannounced very disappointing financial results for the quarter that ended 6/30/22. Revenues of $228 million were almost 25% less than the forecast the company had provided on May 9, 2022. The company has projected a net…
Does have Affirm have a secret sauce? Tuesday, May 24th, has been another day of fear and doubt and pain for those investors remaining in the high-growth IT space. So why write an article now about Affirm (AFRM), its outlook and its opportunities when investors are clearly making bets outside of high-growth tech. There seems…