Below is a brief note from CEO Keith McCullough on why we're adding BlackLine (BL) to the long side of Investing Ideas today:
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Here's another Tech name that we like that is having a #decelerating volume summer-time selloff towards the low-end of its @Hedgeye Risk Range: BlackLine (BL). It's down -2.5% at the time of this signal. Our Managing Director of Tech Research, Ami Joseph, got more Institutional Investors interested in BL earlier in June when he presented on the long idea for the first time. Here's a summary excerpt from his Institutional Research notes: "Top of the funnel view on BlackLine: Love it. Large new market. DiY (i.e. manual) always the enemy in large new (software) markets. And small disruptors always are told that a large co. will crush them. Doesn’t mean both don’t weigh. They do. But if SAP enters and the market goes to 30% penetration but SAP takes 1/3rd of the market, isn’t that still crazy bullish?" Parts of Tech is for sale today. I like Ami and I still like Tech! KM |