GS

Investing

[GS @GSRevelator]

Would appreciate feedback on my "best" idea at this moment. Beware, it’s ugly. $HNRG produces thermal coal, an industry in obvious secular decline. Crux is: $HNRG is small enough to profitably retain its tiny share of the world for a while and potentially grow if/when others exit

[GS @GSRevelator]

@marginofdanger Thanks for reporting back

[GS @GSRevelator]

@Ron284Ron @marginofdanger Other income has been persistent for two quarters…. Do you suppose those like a bargain gain on fidelity funding that’s getting amortized? Is it a fee stream (not showing up as fee)? Perplexing. Good but weird

[GS @GSRevelator]

@eriksen_tim @AKWilk Feels totally wrong on $NRP distributions. Amazingly, seems he’s confusing the rules with REITs?? No obligation to distribute cash (after all, they’ve been paying down debt lol) He prob just dismissed the structure b/c of his mutual fund and then improvised here

[GS @GSRevelator]

@CalvinValue @vanckzhu @InvestSpecial Well, I took the L on $PETS today, the board having rejected the two offers at $4+. Given the amount of burn and the fact that they don’t have a ceo, it’s a hard business to get behind w/o the takeout. Kudos to @InvestSpecial on his skepticism. All said, I was down ~40%

[GS @GSRevelator]

@vanckzhu @InvestSpecial risk/reward better at $2.7, where it touched yesterday. Back up on this

[Diveroli Investment Group @DiveroliInv]

DIG has filed a Schedule 13D on $PETS.

Read the full press release:
https://t.co/tMQ8tDVcyP

#PETS #Ownership #MarketSignals

We own shares. Not investment advice. Do your own DD.

[GS @GSRevelator]

@CalvinValue @vanckzhu @InvestSpecial lol apparently even better! Now it’s a properly huge spread. Obviously time has passed and things could be derailed but any board worth their salt should take this deal in this world

[GS @GSRevelator]

@ohcapideas Love to hear. I do about 10 or fewer trades a year so statistically amazing that we’re in these particular adventures together. Granted, I follow you for a reason (I.e., like-minded and insightful)

[GS @GSRevelator]

lol the head of this “investment group” has interesting past “work experience”

[Brian Sullivan @SullyCNBC]

Meantime in New England and Boston oil - yes OIL - is a stunning 39% of electricity production.

Never, ever seen this high.

Next day power costs (on the left) are super high as well.

300 miles from one of the largest nat gas fields in the world and burning ... oil.

Weird.

[GS @GSRevelator]

@InvestSpecial It’s a fair analysis, though I don’t necessarily agree all the way through. In truth, I use just the net current assets to think liquidation (which is ~nothing.) Why would bonafide entities publicly issue non-serious offers? Sinister way to exit a position, but Cardone has none

[GS @GSRevelator]

@InvestSpecial Cardone has RE developments in Delray Beach. $PETS is long HQ, DC, and land in Delray Beach. Cash plus RE gets you around his. Could prob sell operating business to someone else (see: PE firm on cap table.) What do you think? Too conspiratorial?

[GS @GSRevelator]

@InvestSpecial @Hedgeye $pets — under $100mm. Two offers on the table at material premium to current share price. Spread seems far too large to me, given apparent facts of the case.

[GS @GSRevelator]

@cheapskatevalue @vanckzhu @mihaljevic @Catahoula_Value @eriksen_tim @verdadcap Amazing find at $1.90 (presumably just after the first deal was announced?) — I didn’t see name until last week. Nevertheless still seems like good risk/reward. Sub $2 is truck worthy - good luck to you

[GS @GSRevelator]

Special situation that looks promising to me: $PETS, the OG Pet Pharmacy. Business has performed brutally in the wake of strong competition, but that's not what we're here for. There are two unsolicited offers on the table at $4 and $4.25, and the stock's at $3.30. One...

[GS @GSRevelator]

What say you, friends? Am I crazy to be excited by this, or crazy to not own more here? Disc: long. @vanckzhu @mihaljevic @Catahoula_Value @eriksen_tim @verdadcap $pets

[GS @GSRevelator]

Why does this situation exist? Simplest explanation is that stock is microcap (<<$100mm) and illiquid ($100-400k/day) and this all happened around the holidays. This isn't a 95% slam-dunk, but I put takeout odds at ~75% for 2026. And of that, I'd say 75% it gets done at $4.25+