Daily Brief United States: Ibotta , S&P 500 INDEX, Nasdaq-100 Stock Index, ServiceTitan, S&P Small Cap 600 Index, HireQuest , Sable Offshore, Ally Financial, Expion360 , Corvel Corp and more

• Ibotta operates a performance network connecting consumers with CPG companies and retailers for digital promotions and cashback rewards
• Despite a successful IPO, Ibotta has seen a significant derating due to failing to meet expectations
• Strong partnerships, growing user base, and unique business model suggest potential for a 56% upside towards a price target of $90 and eventually $120

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Quick trading idea:  S&P 500 INDEX DAILY is overbought. Has been closing up for 7 days in a row, soon there will be a DAILY reversal (lasting => 1 day).
• The ideal area to go short is the price area above yesterday’s Close (6021.63).
• Alternatively go SHORT today at the Close. The interactive chart for the SPX DAILY can be freely accessed here.

• A rare cross asset relative value opportunity; time horizon two months, market neutral, near zero-cost premium.
• The strategy exploits the historically low difference between implied volatilities for the Nasdaq-100 Stock Index (NDX INDEX) and the SPDR Gold Shares (GLD US).
• This insight lays out trade rationale, historical context, fundamental drivers, and trade implementation. Nasdaq-100 Vega exposure provides the strategy with an extra edge and tailwind for success.

• ServiceTitan, a VC-backed cloud-based software company for the home and commercial service industries, files to go public and may raise up to $500M.
• The company serves many trades, including plumbing, HVAC, garage doors, landscaping, pest control, water treatment, heating, construction and others.
• ServiceTitan is well positioned as a leader at scale in the trade industry. They currently operate in the United States, Canada and see significant opportunity in international markets.

• Our outlook remains bullish and the significant end-of-year rally that we have been expecting since mid-October is in full swing; continue to ride the trend higher.
• Our election day Compass report (11/5/24) was titled “Buy the Pullback,” and last week’s Compass (11/19/24) was similarly titled “Buy the Pullback Again” 
• We continue to expect significant upside into year-end and the early part of 2025, with small- and mid-caps leading the way, and for index support at 20-day MAs.

• HireQuest is a staffing company, founded in 1991 by Richard Hermanns and Dan McAnnar.
• It started as an on-demand labor provider for daily-paid jobs.
• Over the past 3 decades, HireQuest has added long-term placements and executive recruitment services, operating as a network of different brands.

• SOC remains in limbo with the latest letter from “CalFire” creating further uncertainty as to when, if ever, SOC would be able to restart production at the Santa Ynez Unit.
• SOC was previously served with a cease and desist order from the California Coastal Commission that barred the Company from any permit work until February 2025. 
• The latest media report suggests CalFire sent a letter to the California Legislature about the agency not having authority to allow SOC to restart production.

• SYF, DFS, and ALLY are spinoffs from larger companies in consumer finance and create shareholder value through focused strategies and good management culture.
• ALLY is particularly interesting due to rate-cycle dynamics and a shift from investing in competitive strength to harvesting from past investments.
• The onboarding of a new CEO at ALLY suggests potential developments in the company’s strategy, with a focus on management culture, competitive strength investment, and the impact of the current rate cycle on earnings power.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Expion360 announced several new OEM relationships that management “expects to generate incremental revenue of $5.0 million in 2025”.
• We are electing to be more conservative with our model for the moment but we are still raising our 2025 revenue estimate from $6 million to $8.9 million.
• Our valuation target also remains unchanged at $4/share as the improving 2025 outlook is tempered by concerns about the company’s financial condition in 2025.

• CorVel is recommended as a short in a diversified short portfolio due to concerns including a low EBITDA growth rate and a high EBITDA multiple of 42x.
• The company’s impressive outperformance against NASDAQ in recent years may be unsustainable given its current valuation.
• Potential issues such as the impact of higher unemployment on workers’ compensation claims and the possibility of reduced claims due to injury prevention measures add to the author’s bearish stance on CRVL.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.