Efficient markets?30 Aug 2021 23:03
I listened to the Q2 CC while reading the transcripts and stopping to go over the numbers for a third time yesterday.
The day before that I listened to the Perion call for a third time, doing the same thing to compare the two.
I already have a boatload of PERI. I also have to me a substantial amount of TRMR at an average price of 157.3 pence.
After listening to both calls, I kept asking myself what the eff the market doesn't get, about both of these companies?
Today I noticed TRMR ADS trading in the USA below Friday's UK underlying closing price of 754p. I couldn't help myself and nibbled 1,200 ADSs at prices ranging from ca 736 pence to ca 722 pence. It may tank tomorrow, maybe not, but I am not smart enough to see into the future so I've no idea what's going to happen short term. Long term I obviously believe we're heading from the bottom right of the graph to the upper left.
About the efficient market question: The market doesn't get it, or so I believe. TRMR's mgt are pretty effing solid, and these guys are producing results. Time will tell if I am right about this gem, but I will not be the least bit surprised if we have a monster on our hands. Good luck to all longs.
BTW: PERI is still a fair bit cheaper on many metrics, but they're not growing as fast, and they're more conservative in their approach, which does make them safer. I am happy with both of these.
I think MGNI, of which I own, free and clear, 46,000 shares, is a bit scary. Typical aggressive American company. Could work out really well...or not.