NBIS, HIMS, HOOD, and a couple of industrial pitches

It feels good to start taking our eyes off the macro picture and start drilling down into individual names again. As we continue through earnings season stocks have started moving away from all trading with a beta of 1 and winners are winning and losers are well….just not moving.

One of the biggest winners in the AI space the last three weeks has been Nebius Group N.V. a stock I covered back on April 20th. its up 50% in less than a month mostly on their startup ventures that they own huge pieces of seeing outside investments. When I wrote them up I noted that many of their sub verticals were either too small to move the needle, well with outside investment coming in valuing two of them now at 2 - 5x what the market thought they were at, suddenly they’re worth considering. Even with the 50% move up we haven’t gotten NBIS’s Q1 earnings report, which comes on May 20th. I think even at $30~ its still pretty cheap and should be added to anyone looking for some AI exposure that doesn’t involve selling a kidney to justify its multiple. There’s an outside shot that it might be a double from here over the next year. We’ll know more in 10 days.

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I started writing this when the Chinese took a pee break. Twitter freaked, in a weirdly positive way ‘oh look the Chinese are sticking it to Trump/Trump is an idiot/we’re going to see 4k by EoM’ and other such thoughts. As I’m editing this, Trump is tweeting that the meeting was done well, that there’s going to be another one on Sunday and things are moving forward. Twitter was less amused by this commentary.