1/3/25 - $s - Back in sub $23, but small

1/3/25 :: VROCKSTAR :: S
Back in sub $23, but small

- previous entry was so good at $17 that I sold too quickly (tends to be something I do - working on it in '25 - but i also cut losers too so that's good)

- i like the inflecting margins here, profitable inflecting and mid 20s growth for a unique 7 bn EV (smallish/ M&A -able), for only 6x this year's sales (almost the same growth and GM as everyone's favorite meme - PLTR - but for 90% cheaper on multiple lol). yeah i get they're not the same.

- semis r playing well here in the tape, but in '25 cyber i believe will be an important sector to keep a close eye on and not penny pinch. i think there are more winners than other sectors bc each have interesting attributes. PANW is the NVDA and continues to win but is expensive so i'm waiting for mkt to one-more-risk-off to re-enter. ZS is ownable at 10x sales also compounding sales >20%. and you have stuff like S that's more of a high risk play b/c of the inflecting profitability ? marks. also like OKTA as i've written about which is the top dog in access mgmt (though my sights are on YUBICO too - but the foreign txn fee probably keeps me wanting a better entry here too).

right now i have a pile of shares and have fwd sold covered calls at $25 for dec at $3.8 which gives a nice high teens capture (return) and i'm playing some shorter-dated C's into jan 17 2025 expiry so i don't need to neck out b/c they're trading slightly more than spot and give me 10-1 leverage.

what do u think?

V