Blake Michael
11.7K posts

Blake Michael
@BlakeMichael14
Gen Z actor, creator, and VC @creatorled with 5m+ followers. you might have seen me on tv or Netflix. @forbes contributor. DMs open


'lemonade mouth' premiered 14 years ago on disney channel






I'll post more thoughts in the next couple days on $ONON -- personally I thought the selloff this morning was a major overreaction and a nice buying opportunity (for long-term investors) so I added to my position from $29.00 down to $27.40 There were a couple hiccups in the quarter around wholesale (Europe & Americas were not as strong as I would have liked) but most of the miss today was related to foreign currency exchange (because $ONON is based in Switzerland so they have to convert most of their revenues back into the Swiss Franc) and cutting off some retailers/wholesalers (b/c they want more DTC business at higher margins -- same as Nike). $ONON lost -$85.5M in Q4 just from currency exchange which turned a good quarter with $40-50M of profits into a bad quarter with $40-50M of losses. $ONON guided to 30% revenue growth for CY2024 and said margins will continue to expand. Nothing wrong with this, essentially inline with consensus. I still believe $ONON is a compelling long-term growth story and my investment thesis looks like fine. Don't forget, currency headwinds are only temporary, eventually they turn into currency tailwinds. Just in case you were worried about my $ONON position this morning, I bought some March & April puts yesterday (0.45% position) which were up 180% this morning. I sold all of them by 9:45am and now that $ONON has bounced ~8% off the morning lows I'm green on my position today (if you include the puts).

















