We are short shares of Carvana Co. (CVNA), a $4bn market cap online platform for buying and selling used cars. Originally hyped up as an innovative disruptor, Carvana is now recognized to be just a poorly run auto retailer struggling under the challenges of a severe industry downturn and the unsustainable burden of $6.5bn in
CNX first came across the desk last summer when Andrew Walker wrote about the name. The small introduction made me curious. This Nat Gas operator didn’t care for the highs and lows in the O&G space and opted for a hedging strategy to try and make the cash flows as predictable as possible. They sought
Creative Realities (CREX) – Potential Takeover While the stock is already 46% up since my initial pitch, the case has some further potential. Digital signage hardware and software provider Creative Realities received and rejected 3 takeover proposals from a major long-term shareholder and debt holder Pegasus Capital due to undervaluation. Shares now trade 20 cents
I think reserve management practices, the way central banks manage their foreign exchange reserves, is going to go through transformative change over the next five to ten years. There are a number of reasons for this. One reason is that geopolitics is a big theme again; we are living through a period of “great power”
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According to S&P Global, there were roughly 180 major gold discoveries (over one million ounces in reserves) in the 1990s, 120 in the 2000s, 40 in the 2010s, and none since 2019.1 With the recent strength in gold prices, majors are suddenly seeking to acquire additional resources through acquisitions. – Dan Oliver, Myrmikan Capital, 6/12/23
Traders have a tendency to “think” in their own currencies, which is a natural human action. But it is worth paying attention to how other traders may think, because how they see prices can affect their behavior in ways we might not be seeing through our own lenses. In the USA, we think in dollars,
Oil drilling is collapsing in the US as producers rein in output, mirroring a recent plunge in rigs searching for natural gas. Rigs targeting crude declined by 11 to 575 this week, according to data released Friday by Baker Hughes Co. It’s the biggest weekly drop since September 2021. The pullback was led by the