ValueWalk and its partners hosted its latest contrarian virtual conference today, and one of the presenters was Bradley Safalow of PAA Research. He pitched pet insurance company Trupanion as a short position.
Q2 2020 hedge fund letters, conferences and more
In fact, he said it's one of his favorite short ideas and possibly the best short he's come across in his career. The stock tumbled in premarket trading after his presentation, falling by as much as 7%.
Safalow expects the shares to fall below $10. He describes it as a "structurally flawed, unprofitable company positioned to growth investors as a tech/SAAS story." He argues that Trupanion will never be profitable.
Trupanion: the basics
The company's differentiator is that it pays a 90%...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
