We will be hosting our quarterly INTERNET BEST IDEAS Update Call this Thursday, February 4th at 1pm EST. We will be reviewing the major themes and incremental developments to our Best Idea Short theses (YELP, TWTR), and will be discussing two recently-closed Best Ideas that we have added to our Bench in the opposite direction (LNKD as a potential Short, P as a potential Long). The emphasis of this call will be to outline our view over various durations (particularly 2016) as well as the upcoming catalyst calendar; identifying the major catalysts and risks to each company over the near-to-intermediate term.
Join us for our call Thursday, Feb 4th at 1:00pm EST. Dialing instructions will be published Thursday morning.
KEY TOPICS WILL INCLUDE
- TWTR: Aggressive monetization tactics creating structural headwinds; why there is at least one more leg down to the short.
- YELP: Sell-side refuses to acknowledge its attrition, so estimates still too high. Question if mgmt will repeat 2015 mistake and guide to them
- LNKD: Closed Long, Potential Short. Selling environment appears to be deteriorating, could be beginning of challenging trend
- P: Covered Short, Potential Long. Dead money or Call Option? Depends on how mgmt chooses to proceed post Web IV