The days are long and the weeks are… also long?
Let’s get into it.
I’ve been eyeing Snap for a few weeks now. (I’ve got a longer deep dive coming here next week.) H/T to @TurnerNovak for influencing a lot of my thinking. Big picture:
It’s a super sticky social media platform with growing DAU
A ton of room to grow in monetizing said user base
Founder/CEO Evan Spiegel is a visionary
The future is unknowable, but the product bets they are taking with camera and augmented reality look transformative
A bet on Snap feels like a VC bet. Visionary leader. Massive, growing, unknowable TAM. Sign me up.
Speaking of signing up (sorry!), sign up below to grab my in-depth review of Snap next week. Thanks!
I have less of a feel for Redfin, so this may end of being more of a trading name:
I love companies with strong lifetime value of a customer. This is not that. How often are people really buying a house?
But I love the moat they are building toward and two macro headwinds we’re working with:
As currently constructed, a lot of people eat in the real estate value chain. This agent. That agent. This fee. That fee.
Younger, price sensitive, more technologically aware buyers know this. There is a change coming. This change is SLOW. But coming. Redfin feels best positioned to disrupt a very old, stuffy way of doing business. +1
COVID. People getting out of apartment city rentals and into owning houses in the burbs. This is a thing! +2
What a mover this guy is. Weekly return ⬇️
I first picked up shares in May @ $54.25. Then again in June at $57.42. And again at $59.77.
Unrealized gains are at **checks glasses** 86.87%. Whoa.
Obviously not sustainable, but a company I want to add to on every dip that’s coming.
On the chopping list might be $CRNC. I scooped some up on June 11th. Since then:
I’m not a short-term investor, so I don’t really care about short-term results. But something about this company is giving me pause.
When I bought it, here’s what I wrote:
A lot to like. The original thesis is unchanged.
But for such a small company, this revenue growth is not my favorite (spin-off numbers can sometimes be wacky, but this still doesn’t inspire a ton of confidence).
$CRNC is under close watch until further notice.
From Around the Internet:
As a former startup founder, this was too good not to share:
A lot more to come from here at Mazwood. Thanks for giving it a read and (if you liked it) giving it a share!