substantially south of here. Here's how I think about it. One of the most recent transactions had investors buying in at $9.14 per share; so I'd like to at least be closer to that level. Another way to look at it is that the market cap that you can see on Bloomberg, Google or Yahoo Finance uses a stale / incorrect sharecount. The true effective sharecount (unless I'm badly misreading things) is closer to a billion shares outstanding given all the prefs / convertibles that are deeply in the money. Thus the real marketcap is more like $14 bil and EV is $9 bil. So net cash per share is closer to $6 per share. That's a far more reasonable entry level than the price today (>$14 per share).
to be honest, i have absolutely no idea how to value QXO. i still get the SSNT display on Tikrr and have no experience with this type of transformations. I do celebrate Jacobs though. Shouldn't the next deals increase the value accordingly? He never overpays and enjoys great investor confidence.
Well done. Either my stock charts are off due to wonky share counts or this was an absolutely incredible short call. Either way you got a sub from me.
what price would you buy shares long?
substantially south of here. Here's how I think about it. One of the most recent transactions had investors buying in at $9.14 per share; so I'd like to at least be closer to that level. Another way to look at it is that the market cap that you can see on Bloomberg, Google or Yahoo Finance uses a stale / incorrect sharecount. The true effective sharecount (unless I'm badly misreading things) is closer to a billion shares outstanding given all the prefs / convertibles that are deeply in the money. Thus the real marketcap is more like $14 bil and EV is $9 bil. So net cash per share is closer to $6 per share. That's a far more reasonable entry level than the price today (>$14 per share).
to be honest, i have absolutely no idea how to value QXO. i still get the SSNT display on Tikrr and have no experience with this type of transformations. I do celebrate Jacobs though. Shouldn't the next deals increase the value accordingly? He never overpays and enjoys great investor confidence.