Going into last week, Bumble, Shift4 and WeightWatchers were my three largest holdings. All three reported earnings, and the market reactions were dramatic, but my own conclusions did not always follow the tape. I found Bumble’s call reassuring despite the selloff, added to Shift4 after its 23% decline, and sharply reduced WeightWatchers even as the shares rallied 18%. Below, I explain what changed in each thesis, revisit the valuations, and detail the resulting portfolio moves.
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