As I have done previously, I am attaching a link to the summary from Brad Freeman. I continue to hold all shares in this company. I can not explain why the stock price has not moved up more based on what I think are pretty consistently good results. The company is executing on what is within their control.
Long 1.2% position (but that is my 6th largest individual stock holding - I’m still 56% cash and 14% Bitcoin).
Macro economy does not look good short term for fintechs, which are all down. (deteriorating credit, investment capital drying up, employment expected to drop, slower consumer discretionary spending, etc.) I have wanted to pick up some SOFI but I have an adequate fintech position in Shift4. Similarly Shift4 (FOUR) has executed flawlessly this last couple of years and yet is way down. How long FOUR can continue to put up strong growth and profit numbers and faithfully surprise to the upside while its stock remains so extraordinarily undervalued, no one knows. FOUR has grown revenue +20% and earnings by 50%. So I still like it and will HOLD awaiting Q3 results next week. I see no near term upside for fintech so I am debating whether to reposition my losing FOUR money. These days anything I touch seems to get the plague.
-zane