$TRUP: A COMPANY IN CRISIS – KEY OBSERVATIONS FROM THE TRUP SHAREHOLDER MEETING AND LATEST OBJECTION RESPONSE IN CA

Looks like they were able to persuade Darryl to bring his boat back from Pengo Pengo to grace investors with his presence. Don't count on hearing anything useful or informative. $TRUP

Among a long list of important observations I've taken away from the meeting this is the most important. It sure looks like Darryl is trying to insulate himself here. Who takes the fall for the issues and lies at $TRUP? 3 execs are already gone. So that leaves Margi or Darryl....

@BluthCapital From a pure visual perspective it is one of the best films I've ever seen in a theater. The storyline is well crafted and not incoherent like the $DIS multiverse. I was blown away. The next one comes out next March!

$TRUP completely botched the rollout of the $CHWY program. They took forever to get state level approvals and obviously their extremely high pricing didn't help adoption. It has been a failure, which is why $LMND was brought in. Same issues for the Aflac and State Farm deals

I'll listen to the Medici event for $OSTK. I know @GrainChainIO is doing fantastically well. As for @tZERO, they might say something, but more likely than not people won't care. That's what happens when you go silent for a yr. Not the way to craft a narrative. @JJohnsonNow

Which of the following retailers trading at multi-decade lows will survive and thrive (or at least advance):

Here's the press release from @SettleMintCom announcing another major collaboration for their Middleware solutions. $OSTK

Let's see if @medici_ventures has some real news for us next week. Here's another large collaboration for @SettleMintCom. People are sleeping on progress at some of these companies but $OSTK mgmt hasn't helped nor has @tZERO. Goone can't take shareholder capital and say nothing

It used to be that if you hung around the finance dept long enough at $TREX you could get the CFO job which strangely became the pathway to becoming CEO. Now you have the CFO leaving after a short tenure. This supposed secular grower sure has a lot of C-suite turnover. $TREX

From 2012 on, it seems every $TMT PM had a short position in $IBM as a "set it and forget it" hedge against all the TAM or beta juice in their book. It feels like $DIS is quickly becoming this decade's $IBM. Differences for sure (mgmt quality?), but lots of similarities

$TRUP: The Most Frightening Chart for TRUP Longs; Key Findings from the Latest California “Objection Response” and APIC Statutory Statement

As a guy who writes 100s of pages on each short idea, I've never had as easy an experience as I did with $BYND. Height of COVID19, the meat shelves are empty, not a t-bone or pork chop to be seen. However, my local $KR was stacked with $BYND product. Short it, set it, forget it

Lumber futures getting slammed today. Front month lumber trading at 2006 levels. $UFPI which makes a lot of products from lumber has the same "value add" mix as 5-7 yrs ago, but people think this time is different. These are some serious alligator jaws. Not good for $TREX either

$TRUP: California asks MORE Questions (THIRTEEN!):

$PRDO

I own a little $ENVX. Did not have this gap lower in my playbook today. The action in this stock reflects the numerous potential outcomes on what is an uncertain yet highly promising path. Fintwit hasn't helped matters on this seemingly no one knows how this will react to news

This seems meaningful to me on a number of fronts.

$TRUP: Key Observations and Questions from the Latest State Regulatory Filing as a Critical Price Increase Is Placed on “HOLD”

We need a ruling on the severance arrangement for former General Counsel at $TRUP from @footnoted. - Full vesting of restricted stock ($1.2MM) - $100K severance - 3 yr consulting deal at $300K In return $TRUP gets released from all claims. Why would $TRUP pay that much? Hmm...

We just published a "must read" report on $TRUP (for those who care) backed by findings from FOIA requests. Regulatory scrutiny is escalating RAPIDLY while operating performance continues to deteriorate. You can find it here.

My firm conducts a variety of surveys of small business operators (if you want to see that kind of primary research, click on the link in the bio). VERY FEW small biz operators we speak with have pursued changes to their banking relationships post $SIVB/$SBNY/$SI bank failures