Alone on the BidNone – WSTL
Pitch Summary: WSTL was trading for less than its net cash, perceived as a ‘value trap’ with breakeven operations, but had potential for strong returns. BSD Analysis: WSTL, an electronic communications manufacturer, was trading for less than its net cash about a year ago, perceived as a ‘value trap’ due to breakeven operations and constant […]
YETI Holdings, Inc.
Pitch Summary: YETI Holdings is facing significant challenges due to declining sales and a weak wholesale environment. Despite maintaining high gross margins, the company’s sales have been declining, and its growth outlook has been revised downward. The stock is considered a value trap due to its low P/E ratio but lack of growth catalysts. BSD […]
Topgolf Callaway Brands Corp. (MODG)
Pitch Summary: Topgolf Callaway (MODG) is a short due to deep structural deterioration in the Topgolf business and limited upside in the core Callaway equipment segment. Topgolf, acquired in 2021 for $2.5B, has since recorded an impairment of $1.4B and faces eight consecutive quarters of negative same-store sales, leadership turnover, and a failing turnaround plan. […]
