Stubbornly High Churn + Near zero Organic Growth + Heavy Balance sheet + Massive future Equity Seller = ADT BEST IDEA SHORT
Organic Share Gains long Eclipsed + Pivot to buying crap semis + no organic growth for frankenstein analog segment + catalyst of buying a gross roll-up of nonsensical proportions with little Due Diligence + getting lucky on x-Roll-up CEO firing back from the sunset = MCHP BEST IDEA SHORT
taking price on steady to declining user base + Spending More on CAC but Yielding narrower net aDds + weak Enterprise Strategy + Deaf to Urgency = DBX BEST IDEA SHORT
Cobbled Together Product from M&A + major Culture Problems + Misunderstood market need & penetration = AVLR BEST IDEA SHORT
Active New Mgt + once in generation shift of material science + strong IP ownership in SiC and GAN + Path to Lighting GM% Improvement + LED raw materials Pivot to WS = CREE BEST IDEA LONG
Please call or e-mail with any questions.
Ami Joseph
Managing Director
Yosef Vaitsblit
Analyst
