Disclosure The information contained herein is being provided to the investors in Third Point Investors Limited (the “Company”), a feeder fund listed on the London Stock Exchange that invests substantially all of its assets in Third Point Offshore Fund, Ltd (“Third Point Offshore”). Third Point Offshore is managed by Third Point LLC (“Third Point” or…
maybefalse/iStock Unreleased via Getty Images Alibaba Group Holding (NYSE:BABA) has disappointed investors for more than three years as the Chinese economy as well as the eCommerce giant itself under-performed recovery expectations. Alibaba’s sales growth in the fourth quarter was just 5% YoY, down from 9% YoY in September, adding to concerns about a steep growth…
Sasiistock/iStock via Getty Images The following segment was excerpted from this fund letter. Avid Bioservices (NASDAQ:CDMO) Avid, our large molecule Contract Drug Manufacturing Organization, was by far our biggest loser in 2023. After several years of investment, the Company completed a capacity expansion program just as early phase biotech spending was curtailed, largely due to…
IB_photo Investment Thesis I assign a “BUY” on Restaurant Brands International (NYSE:QSR) with an implied share price of $83.88. RBI is an asset-light business with growing royalties underpinned by high-quality brands such as Burger King, Tim Horton, Popeyes, and Firehouse Subs. I believe the involvement of the new chairman can benefit the company, given his…
champpixs Investment thesis Asana (NYSE:ASAN) was one of the hottest stocks during the 2021 stock market mania, but now it trades more than seven times below all-time highs. My valuation analysis suggests the stock is still overvalued, but I believe that the premium is well-deserved. The company’s stellar revenue growth is backed by the superiority…
zhengzaishuru SandRidge Energy (NYSE:SD) generated $24.2 million in free cash flow in Q3 2023 as it spent a minimal ($0.5 million) amount on capital expenditures in the quarter. Due to the lack of development spending, SandRidge’s daily oil production declined by approximately 8% from Q2 2023 to Q3 2023 despite its minor July acquisition. SandRidge’s…
Torsten Asmus Battalion Oil (NYSE:BATL) recently reported its Q2 2023 earnings after a delay attributed to its former CFO suddenly leaving the company in early August. Battalion’s recent wells have performed solidly and it should see substantial cost savings once its acid gas injection project is fully ramped up. However, the acid gas injection facility…