2/11/25 - $dash - I just like $uber more
2/11/25 :: VROCKSTAR :: 
DASH
I just like
UBER more
- i love this franchise
- but i also like
NVDA, mu... but rn i just own 
TSM
- but i also like
ETH, sol... but rn i just own 
BTC
- but i also like
FSLR, enph... but rn i just own 
NXT
...
- in this tape it's increasingly difficult to own the second best until the valuation gaps are wide enough to merit moving down the quality stack
- this is NOT to suggest dash doesn't have an awesome franchise, has built that route density to keep throwing off FCF... they do/ they will
- but while mgns are *yes* better thanUBER, the growth is just modestly better, at the same time UBER continues to scale it's Eats offer (and mgns will reach parity with DASH)
- and so for 1/3 the FCF and arguably a more discretionary product (Eats vs. Rides), is it "worth" half the mcap?
- reality is, it's grey zone.
- put a water balloon to my head and i'd guess the result is +ve and stock rallies
- but TBH, we've seen theUBER result, the valuation is still attractive and i see no reason - per the original comments on second best - to leg out and complicate my PnL in a period where i think... we might see some rough tides. i'm shooting for simplicity, conviction and if/when valuation on the mgn is superior (as it is in the comparison of Uber vs. Dash)... a plus
- let's see. GL to the owners. i'll be rooting for u on this print from the sidelines.
V
DASHI just like
UBER more- i love this franchise
- but i also like
NVDA, mu... but rn i just own TSM- but i also like
ETH, sol... but rn i just own BTC- but i also like
FSLR, enph... but rn i just own NXT...
- in this tape it's increasingly difficult to own the second best until the valuation gaps are wide enough to merit moving down the quality stack
- this is NOT to suggest dash doesn't have an awesome franchise, has built that route density to keep throwing off FCF... they do/ they will
- but while mgns are *yes* better than
UBER, the growth is just modestly better, at the same time UBER continues to scale it's Eats offer (and mgns will reach parity with DASH)- and so for 1/3 the FCF and arguably a more discretionary product (Eats vs. Rides), is it "worth" half the mcap?
- reality is, it's grey zone.
- put a water balloon to my head and i'd guess the result is +ve and stock rallies
- but TBH, we've seen the
UBER result, the valuation is still attractive and i see no reason - per the original comments on second best - to leg out and complicate my PnL in a period where i think... we might see some rough tides. i'm shooting for simplicity, conviction and if/when valuation on the mgn is superior (as it is in the comparison of Uber vs. Dash)... a plus- let's see. GL to the owners. i'll be rooting for u on this print from the sidelines.
V
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.