@pernasresearch's calls have beaten their sector by 2.2% per month, winning 52% of the time.

HUGE news for Yellow Corporation shareholders. Auction results came in 400mm above stalking horse bid. By our calculations, shareholder recovery should be around 600mm, indicating more than 500% upside. $yellq (either we totally missed something or the pop on open will be gargantuan) --- we re-entered the position at open. For those interested, there is a good piece on SA from Wyco Researcher: https://t.co/eOjfwmOA1o

We bought some way OTM puts on GME yesterday that expire in two weeks. Most expensive options ever but still worth it. So weird to have an option play that is way out of the money, expires in two weeks but also feel like it’s massively positive theta.

$LEU up about 400% since our write-up. We still see significant upside with global sentiment on uranium changing along with their monopoly on HALEU production starting in 2022. https://t.co/1DJwp82mpb

$SNBR is a vertically integrated mattress and has been aggressively pursuing growth with high advertising budgets, spending almost as much as TempurSealy, a company with 2.5x the revenues of SNBR. SNBR is a solid brand however its ~$470mm revolver debt level gives us pause. 1/n --- The last three years, it repurchased $700mm of stock at avg share price of $100; the share price today is 1/5 of that. Repurchases have tapered off while share prices have plummeted. Lack of sound capital allocation plus a more fragile balance sheet leaves us unable to invest. --- $SNBR down 40% AH. Fragile balance sheet + lack of sound capital allocation + deteriorating market is a bad combination.

Remitly $RELY earnings update: Despite revenue beat, market is hammering the stock AH, down 22% Revenue totaled $241.6 million, compared to $169.3 million, up 43%. y/y (slight beat on estimates) Net loss was $35.7 million, compared to a net loss of $33.1 million. y/y (slight miss on estimates, mostly non cash SBC) Adjusted EBITDA was $10.5 million, compared to $(3.7) million. y/y Thoughts after call: Management made it clear that they are focused on more growth expenditures and market clearly wants them to pare back and focus on profitability. Remitly cash burn is ~breakeven and they have ample liquidity (over 400mm) and no debt. They are internally funding growth. Shifting gears to focus on profitability now is not the right move given they are in the ~second inning of a large and scalable market opportunity. Long $RELY

We are long $PSFE Paysafe Stock is up 18% on takeover rumors. Our deep dive was released yesterday (epic timing). Business background + Thesis:🧵 --- Paysafe is a global payments provider specializing in high-risk verticals: iGaming, travel, crypto, forex trading etc. --- The company went public via SPAC in 2021 and has since declined ~80%, largely due to SPAC bubble imploding. --- Under new CEO, Paysafe is successfully transitioning into a unified, growth-oriented payments platform after years of fragmented operations from M&A. --- Two business segments: Merchant Solutions: Payment processing driven by direct and distribution partners (ISOs, ISVs). Digital Wallets: Primarily Skrill and Neteller which are heavily used in iGaming throughout Europe --- Paysafe’s edge comes from deep regulatory expertise, merchant underwriting in high-risk industries, and global banking relationships that competitors struggle to match. --- The U.S. iGaming market is still in its early stages and set to double by 2029. --- Full write-up that also includes a brief industry background: https://t.co/hSLIJo4rng