However, nearing mature gross margins, we struggle to see how this unprofitable company can expand much further, even on the heels of solid y/y growth.
See why below - earnings on March 12.
www.cedargroveresearch.com/p/ipo-notes-...
This morning, we released our newest note on the Once Upon A Farm $OFRM IPO.
Co-founded by actress Jennifer Garner, the co has seen wild success in its refrigerated/cold-pressed snack pouches.
www.cedargroveresearch.com/p/ipo-notes-...
1/2
Record Numbers of Workers Are Raiding Their 401(k) Savings
Last year, a record 6% of workers in 401(k) plans administered by Vanguard Group took a hardship withdrawal. That is up from 4.8% in 2024 and a prepandemic average of about 2%, according to Vanguard.
LMAO. Noom just said on their call with Evercore right now that they weren't entertaining the Lipomosal Wegovy pill because it didn't even pass their first bar of efficacy data 😂
Basically saying who knew if it even worked and this is him saying this before $HIMS launched it
FinTwit sentiment for almost everything
When the price is up: "Yea exactly, the market is right. Definitely makes sense."
When the price is down: "Market is wrong! It's these stupid shorts and Jane Street trying to tear it all down! You just don't get it dude! Manipulation!"
$REAL blew past estimates! +6% right now
People really do not understand the tailwinds with this trend and why $REAL is best positioned for.
$REAL is www.cedargrovecm.com 's 2nd largest position.
Factoring ~200bps of margin improvement in 2026 w/ growth just under GMV growth
"Unfortunately, raising taxes and cutting spending, the most straightforward solutions, are not politically palatable."
Thought this was interesting
Gross public debt-to-GDP ratios rose 42% on average in most recent global 2024 IMF data and now exceed 100% in seven of 10 developed markets
Tender offer going through by WHP for $LE shares at $45/share
By the end of the buying, WHP will own 7% of $LE
Remember, all you need is just ONE good idea to pay for a research services annual cost
To anyone that went in and tendered, congrats 🎉
Quite frustrating when you're looking at a company's adjusted EBITDA add-backs and they keep expensing things as if it's a "one-time charge" even though it keeps showing up quarter after quarter after quarter
Clearly, it's not a one-time expense!
Could make the argument!
A study done by Voy regarding weight loss outcomes from those who use digital health support
At every check-in, for those who were engaged, patients lost MORE weight than those who were not engaged. Supporting the role that weight loss support providers play in patient outcomes $WW
$EVLV is interesting because it seems like every week you get some type of deal or article highlighting a new deal/client or upgrade and yet this thing continues to dump
Great article on the case of why we actually **don't** have a housing problem
ofdollarsanddata.com/does-the-us-...
This trade is in the restaurant space, and after stock prices in the industry were hammered last year, it looks like sharks are starting to circle stable, asset-light businesses while valuations are depressed.
See which one we're talking about in the note below that could lead to a bidding war.
Yesterday, we released a quick special situation trade based on one of our six investment themes for 2026.
1/2
www.cedargroveresearch.com/p/quick-spec...
More lawsuits in the compounded oral world of GLP-1s
White-label telehealth provider, pharmacy sued over 'snake oil' compounded oral GLP-1
www.linkedin.com/redir/redire...
One could argue that if $WW stabilizes, a re-rating could move to the base case from the bull case
Something came up - need to cancel. Will do another day
Set a reminder for my upcoming Space on $HIMS
x.com/i/spaces/1vA...
As much as I want them to go that far, I also don't think they will. They'll eventually settle something but it will still be very crippling to HIMS now that it has to worry about $1 billion of debt
Since $NVO has decided to sue $HIMS, and I'm sure people are too lazy to click on things, here's the page from our March 3rd report explaining treble damages
BofA lowers $HIMS PT to $13
Scott Gottlieb, former FDA commissioner, says Hims & Hers ( $HIMS) could face serious regulatory consequences after the company attempted to sell an unapproved oral GLP-1
This morning, we released an updated note on $HIMS after the drama that happened over Friday and the weekend.
In this note, we break down how the FDA could do it and the downside could be >80% from Friday's close.
$NVO has also sued HIMS this morning.
www.cedargroveresearch.com/p/hims-napol...
Tommorrow. 7am EST.
$HIMS: Napoleon Watches Moscow Burn
www.cedargroveresearch.com
I'm going to do my best to release our next $HIMS report either tomorrow morning or, as a fallback, before overnight trading kicks off.
Some new developments occurred earlier this afternoon, which changed some of the unknowns.
Get it in the usual place
www.cedargroveresearch.com
Have a listen below for free, and see why within 24hours, it all made sense.
www.cedargroveresearch.com/p/ic-9-talki...
On Wednesday, we released our new podcast episode with Dr. Ashwin to discuss telehealth and $HIMS
The timing couldn't have been more perfect. We talked
➡️ The issues with their GRAIL test
➡️ The dark side of lab tests and telehealth in general
➡️ The SNAC patent (perfectly timed)
➡️ And much more
