7/29/24 - $sym - Want to own, tough timing into print7/29/24 :: VROCKSTAR :: NASDAQ:SYM
Want to own, tough timing into print
- pretty cool concept, if you're unfamiliar, create robots/ automation for supply chain
- super shorted
- growing like a weed
- not amazing gross margins, but should scale in time. not burning but a lot of it stock comp - so call me neutral to meh/ "okay" with it bc it grows so quickly - so these people are clearly doing something right
- complicated relationship w/ softbank (no comment on softbank "publically" - read between the lines)
- not cheap, they'll trade at 40x on '25 EPS - which if you're a fund manager today is how you'd ""pitch"" it - note the double quotation marks
- but realistically in the immediate term, the gross profit isn't obviously scaling more than the opex from the last two prints. could change this print, but it's nothing i'd want to extrapolate in this market with an uber shorted stock.
- absolute valuation of $3 bn (ex. the cash) is in a good zone. so i'd not want to short it either (RIP to you guys I think in the MT/LT context)
- TL;DR it's just too confusing for a fed week with valuation where it's at, a SPAC too that's actually doing okay just raises an eyebrow no less, and a chart that looks a bit stuck. i'd expect some volatility here. probably a massive move one way or another. but i don't like my odds so i'll be on the sidelines. would LOVE to own it on a dip buy, though. so that's how i'll be playing the results.
gl fam, lmk if u have a more nuanced POV
and have a good wk, stay solvent
V
