New initiation report is released on a name in a space that is deeply unloved by the market at the moment: apparel. Available for free on our Substack. $VFC $NKE $LULU $ONON $UA $DECK sensuscapital.substack.com/p…

Braze getting acquired by $CRM. $SHOP want to go after $KVYO? You already hold a significant stake and the synergies are there.

$ACMR is back in a good valuation range. Looking forward to this numbers. Keep in mind, backlog grew 88%, and we suspect, there is a decent chunk of international revenue in there too.

If market is acting irrationally and bidding up your stock into the stratosphere despite the lack of fundamentals - all good. If the stock drops, suddenly markets are irrational and don’t understand the business model? Sure. I am looking at you, $CRWV .

$BMBL is going private at a $1.3bln, concluding another masterclass story of shareholder wealth destruction by the 2021 IPO's cohort (down 92% all-time).

So, the stock first has to go up, and then suddenly analysts turn bullish. As always, lagging indicator. $VFC

Market movers, October 12th 2026. $TMUS $META $SHOP $LITE

Looks like several EM financial leaders have actually learnt from their mistakes and run a much tighter ship right now. The same sadly cannot be said about the western counterparts.

Almost EUR 215bn of French corporate debt is trading as if it were safer than French government bonds.

Dynatrace ($DT) is in a small group of firms with quantifiable AI exposure driven by demand for observability.

Monitoring $1810.HK (Xiaomi) closely. Even though it just had a big jump, it only recently started building a base and slowing the downtrend. Patience pays off for the trend to return to be in the upward direction. Might lose a couple of % of return, but leads to a much higher probability of positive scenario playing out. The business itself is resilient, despite memory squeeze.

If $SBUX acquires $CMG, will it be an example of Brian Niccol engaging in empire building?

$ZETA's acquisition of Senso signals a deeper push for AI vertical integration. The stated goal of adding "frontier-model connectivity" suggests the market is demanding more than API wrappers. Enterprise winners will likely own the intelligent infrastructure, and ZETA is positioning to capture that value.

$VFC is flying under the radar as it does not screen well. Top-line is showing flat to negative revenue growth, which is primarily driven by Dickies comparison. Ex-Dickies, more than 70% of the business is growing 8% YoY for FY2026.

Disappointing results for $NKE. I guess simply finding cool sounding names for your strategy doesn’t automatically fix the business. And Converse continued declining more than 20% YoY. I still have no idea why did the management rejected an acquisition approach for that unit.

Initiation report coming out tomorrow on a name in the beaten down space of apparel. $NKE $LULU $VFC $DECK $ONON $UA

Chinese government has signaled that it may allow $BABA and ByteDance to buy $NVDA's RTX Pro 500 chips. For reference, this is a processor from an older generation, mainly used for graphics and simulation.

“We’re not selling anything at all in Europe. That’s because Europe isn’t investing and because no chip factories are being built there,” - Frank Heemskerk, EVP of ASML at an event. $ASML

We are back from the final vacation of 2026 and already have several reports in the pipeline coming out over the next 1-3 weeks, in particular: - Initiation report on a name in the apparel space. - Review of how our Outlook for 2026 turned out so far, as we enter the final quarter of the year.