Scorn

🇲🇽

[matthew sigel, recovering CFA @matthew_sigel]

https://t.co/qj8aSmGx2j

[Michael Tannenbaum @MBTannenbaum]

Another record quarter at @Figure.

83% top-line growth, 58% margins, meaning we’re again “Rule of 140” in the “Rule of 40” investor framework. It’s a rare stat to be able to share once, but this is our fourth straight quarter of Rule of 140. It’s rare air + staying power. Really proud of our team.

We added 100+ partners and are now at 612 on our marketplace, and 894 when including broker partners of Kiavi, which we closed on September 1. We’ve also expanded volume more than 40% with partners who have been with us for a year or more.

Much more in our full results here: https://t.co/7hY0aRwDsU

[Figure @Figure]

$5.8B in loan marketplace volume, with 73% driven by Figure Connect, up from 65% driven by Connect last quarter.

[Scorn @StockRepourt]

FIGR earnings is tomorrow morning

[RWA Foundation @RWAFoundation_]

Wall Street is onchain.

Asset managers, banks, market infrastructure and payments giants building within onchain finance.

[RWA Foundation @RWAFoundation_]

Wall Street is onchain.

Asset managers, banks, market infrastructure and payments giants building within onchain finance.

[matthew sigel, recovering CFA @matthew_sigel]

My multi-year thesis is that monetary debasement's second-order effects will include Bitcoin adoption and a repricing of the power infrastructure to which Bitcoin is linked. I'm not abandoning this thesis over short-term volatility.

[Scorn @StockRepourt]

$350M volume for last week,
Isn’t bad, I don’t see anyone posting on the $ FIGR section though about the reporting
During Q4, during this season all the way to February demand does slow down for HELOC,
November through February is the slow season for home based lending
I wouldn’t be looking at the WoW
What you should be looking at and comparing too is, YoY, same week last year, has grown 73% that’s the metric I would look at during the seasonal months,
And today is a bank holiday, so don’t be surprised if this comes in lower next reporting week. It’ll be 4 business days reporting instead of the usual 5

[Scorn @StockRepourt]

Today’s been really good to me,
Everything up

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Nasdaq 100 futures fall over -1% in their first reaction to Nvidia, $NVDA, CEO Jensen Huang confirming his "romantic relationship" with a Chinese spy.

[Scorn @StockRepourt]

NVDA’s CEO affair just all in my timeline
Markets gonna come down tmr, how much is the question hmm

[Scorn @StockRepourt]

This Thursdays earnings gonna be exciting

[matthew sigel, recovering CFA @matthew_sigel]

$FIGR 2028 GAAP revisions 👀

Spike is due to new 2028 $2.22 number from GS.

If accurate, puts the stock @ 10x 2028 GAAP PE just as analysts start rolling over price targets to 2028, growing ~50% w/ 50% EBIDTA margins, w/ housing already severely depressed.

Rare air.

[Scorn @StockRepourt]

Theres an old chip investing saying: buy memory stocks at a high P/E and sell at a low P/E, because a low P/E often marks the top.
Just because the P/E is low doesn’t mean it’s cheap.

[Coin Bureau @coinbureau]

This is INSANE.

Nvidia is trading at its cheapest valuation in a DECADE.

After the strong AI selloff, major AI stocks are below 4× expected earnings.

Forward P/E across the AI trade:

- Micron $MU 3.97×
- Sandisk $SNDK 3.64×
- Sk Hynix $SKHY 3.19x
- Nvidia $NVDA 11.78×
- Dell $DELL 10.46×

For comparison, the S&P 500 trades at 17.7× estimated earnings for the next 12 months.

[matthew sigel, recovering CFA @matthew_sigel]

$FIGR 2028 GAAP revisions 👀

Spike is due to new 2028 $2.22 number from GS.

If accurate, puts the stock @ 10x 2028 GAAP PE just as analysts start rolling over price targets to 2028, growing ~50% w/ 50% EBIDTA margins, w/ housing already severely depressed.

Rare air.

[Scorn @StockRepourt]

Lol

[The Kobeissi Letter @KobeissiLetter]

BREAKING: South Korea’s KOSPI collapses -9%, triggering a trading halt, after opening for the first time since today’s US market decline.

The index is now down -47% from its record high.

[Scorn @StockRepourt]

Supposedly the tweet that caused the massive sell off today
“Ban AI” lmao
How can we advance as a society if one limits innovation. Very stupid but, yeah it is what it is.

[Congresswoman Yassamin Ansari @RepYassAnsari]

Top of the Democratic agenda on day 1 needs to be a pause on advanced AI development, regulation of this out of control industry, and a ban on artificial superintelligence.

[Scorn @StockRepourt]

Lmao

[The Spectator Index @spectatorindex]

BREAKING: Trump says that today the stock market 'suffered one of the worst days in history' based on election results.

[Scorn @StockRepourt]

We need another melt down, ngl I don’t think we’re close to the bottom, spy needs to fall down another $30 IMO,
But damn, is the stock market talks on twitter depressing right now.
People coping everything will be alright
People saying bottom is in
Or it’ll continue to fall.
AI stocks, more specifically have fell the most, targeted sector but also the reason why SPY went up so high this year.
AI stocks need to get obliterated some more before we can talk about forming a bottom.

[The Kobeissi Letter @KobeissiLetter]

Even with the biggest jump in volatility since 2018 and -$2.5 trillion in lost market cap today, yields are barely moving.

The 10Y Note Yield is down a mere 7 basis points today.

The bond market is not messing around.

[Scorn @StockRepourt]

People are too optimistic on their stocks I’m seeing, no AI data center stocks won’t hit their peaks again

[Scorn @StockRepourt]

I’ve mentioned this before btw,
What costs the old system $12K to process loans
Costs FIGR $1K to do.
Housing markets is a trillion dollar sector btw,
So far FIGR is the leader with their innovative push to move the old system into block chain,
We are the only rails.
By the time big banks and other competitors try to replicate,
Will be too late.

[Michael Tannenbaum @MBTannenbaum]

Affordability was on the ballot, and it’s top of mind for homeowners, lenders, and mortgage partners alike. At Figure, we’ve taken a $12k process --> $1k. I was at an industry summit in Charlotte yesterday, and partners and prospects said they’re prioritizing solutions that lower costs for consumers and for themselves. One example: our partners in the last few months have used Figure to help their customers directly pay off ~$700M in consumer debt – this is tech that drives growth. But that’s just part of it. We’re investing in capital markets innovation and smartly using AI to deliver even more. Will cover on our earnings call Nov 12.

[Scorn @StockRepourt]

Been awhile since I’ve seen a 12%+ day,
Today’s been nice