PassiveBubble

$RDDT is still down 32% YTD despite just minting their 7th consecutive quarter of 60%+ revenue growth. The company can drive significant ARPU growth through increased ad loads, and AI driven improvements in ad targeting and conversion rates. Operating margin is now 27.6% in Q1, up from 1% the previous year and will continue expanding into the 40-50% range. Net dilution over the trailing twelve months is now just 0.62% The business is extremely capital light, with just $1M (yes, million) of capex in Q1. The forward P/E multiple is 29.9x and that’s based on a sandbagged EPS figure. True forward P/E is probably around 25x, for again, 7 straight quarters of 60% revenue growth, huge margin expansion, and extremely low capital intensity. Not to mention, a durable moat that has been tested several times over the past twenty years. $RDDT may be new to the public market but reddit is NOT a new platform. They’ve been building their moat for over two decades and it’s extremely strong. Add in S&P 500 inclusion which is only a matter of time, and $RDDT is set to explode higher.

$PESI thinking they're about to raise ... not thrilled but the story hasn't changed and it's a powerful one.... I intend to add on the raise and wait ...

$BLND K.I.S.S - primed to rip for a few reasons: Warsh will push to lower rates. if Iran deal happens inflation concerns will abate. 10-year has a real chance to move sub 4 this year. all of these will drive mortgage volumes

Director (Haveli Investments, L.P.) at Blend Labs, Inc. $BLND purchased $2.79M (7th largest purchase, out of 11). This increased their listed holdings by 17%. Dip Buy: the stock was down -53% in the previous 6 months.

I did not blame retail investors for PSUS’ and PS’ price drop. I did explain to the media that we had chosen to favor retail allocations over institutional orders by giving retail investors 100% allocations and cutting back institutions. In most deals, retail investors receive a smaller percentage of their orders than favored institutions. Because the stocks opened late in the day at 1:55pm, investors who received more shares than they wanted were forced to sell in the last two hours of the trading day in order to have the cash to settle their orders the following day. This likely led to dumping of the shares of both PSUS and PS before the market closed. I was not blaming retail investors. I was simply explaining what we believe had occurred. We just did not appreciate this dynamic in making our allocation decisions.

BREAKING NEWS FOR DDI This week, I accepted an offer to join the $SOFI team in the Office of the CFO. I couldn't be more thrilled and excited for the opportunity to get to work and have a real positive and tangible effect on this company, the millions of members who use its services, and the shareholders who've invested in the vision to help people get their money right. This is a huge pivot in my career, and I can't wait for the learning and growth that's ahead of me. It also means however, that for the foreseeable future, Data Driven Investing is going to wind down. I've loved building this, sharing my analysis, debating back and forth, and learning and interacting with everyone. It's truly been my pleasure to do so. I'll still be here, and I'll definitely be seeing everything you all post, but I won't be talking about SoFi or any other individual equities. I start December 15, and I can't wait to roll up my sleeves, get to work, and make my footprint bigger than my foot. FRESH HORSES WE RIDE!