1/21/25 - $dcbo - Interesting learning co. Buyer in $30s

1月22日

1/21/25 :: VROCKSTAR :: DCBO
Interesting learning co. Buyer in 30S

- impressive historical growth
- clear opex flex and cash generation (no SBC issues)
- multiples while not "obvious" are reasonable
- great partnerships w/ leading tech, and B2B focus > consumer
- all else equal, stock should be a buy today at $42ish, but i don't have a mandate to risk manage 20-50 positions and don't like seeing a ton of line items on my PnL, so until this does become obvious, i'd just watch it on any mkt related risk-off that yanks a smaller cap like this one into the 30s.
- anyone have experience using this product?
- i'm not overly impressed with the new ceo (which took over from the founder recently/ last year), so while not a -ve, i'm not buying b/c "i love the guy", unlike my recent comments on PI today (unrelated tech, go check it out).

thoughts my friends? watchlist?

V

3月17日

交易進行

Ok, i'll bite.
One of these "difficult" to rent deals given liquidity, so i need to time the sizing/ entry just right.
Only about a 30 bps position to start, i'd like to take it to 50 bps on anything closer to mid 20s and if/when low 20s (if we get another wick down in risk - again *if*/when not "when"), i can take it to 1 or 1.5% size.
mgn of safety seems decent, decent recent results. i get the new ceo, some enterprise stuff lumpy in this environment, but they generate good cash, healthy net cash balance sheet, unique angle in "education". not tariff exposed etc.
V