@mylesgrote@planert41 Einhorn re-enters: “I don’t think Peloton is in secular decline,” Einhorn told CNBC’s Sara Eisen. “I think new management has come in. They’re cutting costs. There’s quite a lot of cash flow. They’ll refinance their debt in a few months. I think it should be okay.”
@h4rukee@MrStephenHowson Totally agree. Didn’t see too much of Cunha at Wolves, but somehow it seems like he’s not quite being deployed to the best of his abilities. Or maybe that’s his style, anonymity mixed with genius.
@VanIsleInvestor It's all about efficiency and margin compression - and therefore, multiple contraction. Valuations had gotten out over their skies anyway. This is a fair summary to counter the extreme narrative: https://t.co/dd4IkKPzG2
@CDInewsletter I generally agree that AI's proposed effect in the short-term has lead to some unwarranted multiple compression out there. But in this case, I think it is warranted, and an existential threat. I don't think $HRB benefits as much as competition hits their margins. But we'll see!