In today’s briefing:
- Tornado Cash Blacklisted
- Confident In Growth Opportunities. Weak Q3FY22 Billings Guidance Does Not Change Our Bullish Thesis
- Solvency Risk Short Candidates: BridgeBio, Wayfair, Archaea Energy, Enviva
Tornado Cash Blacklisted
- Typically, there are one of two ways a cryptocurrency or digital asset comes into existence.
- The first is through a Fair Launch. A fair launch is a type of crowdfunding in crypto where the project sells tokens to every participant.
- A fair launch allows for equitable and fair distribution of tokens.
Confident In Growth Opportunities. Weak Q3FY22 Billings Guidance Does Not Change Our Bullish Thesis
- Freshworks (FRSH US) reported solid 2QFY22 results, and the company beat all key estimates, showed strong revenue growth of 37% YoY, and added ~1,800 net new customers.
- Welcomed high-profile new customers such as Cloudera, Dynatrace, Sterling Bank, Thomas Cook, World Market, Angi Home, and more.
- Shares of Freshworks (FRSH US) have been exposed to heightened volatility lately, which we think provides long-term investors with an opportunity.
Solvency Risk Short Candidates: BridgeBio, Wayfair, Archaea Energy, Enviva
- This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows. It considers interest expense, capex and short term maturities for additional input.
- The companies may not be viable given cash flows and capital structures. These shorts tend to have higher betas and can have strong down moves as the crisis is recognized.
- This week we flag: BridgeBio, Wayfair, Archaea Energy, Enviva Inc.
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