8/22/25 - $run - Pretty obvious short

22 ago

8/22/25 :: VROCKSTAR :: RUN
Pretty obvious short

- it's great to see papa powell pump our beloved NXT
- but just the other day daddi trump decided to eat taco bell (if you've been paying attention - this is when he tweets something from the 3am squat that's anti-solar)... and not chipotle.
- solar has had a nice run.
- i've written ad nauseam about it being the obvious generation tech in the next 10 yrs. edgeking elon agrees. idk if that's good or bad.
- but in the retail front let's just review some real basics
- usually in a mkt i get the "yes everyone can see the multiples". and yes that's true. but honestly it's somehow an edge to just put this into context with a modicum of logic.
- for RUN you get:
- 7.5x sales (lol!)
- low teens EBITDA mgns (adds back D&A! lol)
- trust me bro FCF in 2028
- so yeah
- hard pass at 18 bn valuation
- it's one where the equity can certainly do cray cray things b/c it's so small in the capital stack
- but ultimately. RUN will go BK. i've made a number of these calls in the past year, many of them are returning to fair value. zero-aroni.

be safe out there.
friends don't let friends buy RUN just 'cause it's a fun ticker.

V

2 set

Trade attivo

relo'ing the mag.
short again.
finding a lot of shorts today.
this isn't a BTFD market, unlike the last 2 times we did this in the last few mo's of chop.
index needs a reset and trash co's r going to get flushed hardcore

V