Official account of Rome Capital, an investment firm focusing on small and mid-cap growth and special situation investments in Western public markets
Hong Kong
Joined October 2022
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Kudos to Alta Fox team for the great work! We also believe $NATL is a significantly undervalued stock as market neglects its transformation to ATMaaS, recurring revenue and deleveraging opportunity. Please find our research on it here: alexfeng.substack.com/p/ncr-…
We just published a new high conviction idea $NATL. This neglected spinoff is trading at ~6x earnings and we believe can grow EPS ~30%/year over the next three years. We believe fair value is ~250% higher over the next ~3 years. View the idea here: altafoxcapital.com/research
Please find our NCR Atleos (NATL) theis. Its mission-critical business not only provides support in an uncertain economy, also it's going through a SaaS-like transformation for better growth, profitability, and visibility. And the multiple is dirt cheap! open.substack.com/pub/alexfe…
We are honored to be interviewed by Capital Employed, one of our favorite sources for new ideas, to share about our strategies and two high-conviction ideas CBOX LN and NATL NYSE. Please find out with the links below.
FRESH OFF THE PRESS 🔥
Investor interview #108 Alex Feng from @SnowsofNebraska
Alex discusses two stocks they're bullish on + much more...
capitalemployed.com/p/interv…
We are glad to announce to change our X account name to Rome Capital. And here we'd like to share our first Annual Report to discuss our strategy and portfolio in detail. We look forward to hearing you feedback! Wish everyone a prosperous 2025! open.substack.com/pub/alexfe…
We're happy to launch the Company Updates series to post info and analysis on the results and actions of our portfolio companies. Hope it'd be helpful to our readers as well.
Rome Capital 2024Q3 Company Updates , by @SnowsofNebraska open.substack.com/pub/alexfe…
Please find our latest research on the UK's leading cake shop chain Cake Box (CBOX.L). It's a bit long, but worth the time with details and my quirky sense of humor. DM me if you want the short/dull-suit-and-tie version. Enjoy! open.substack.com/pub/alexfe…
Please find my write-up on a super attractive spin-off opportunity Gaming Innovation Group. I see a 90-230% upside on it, could be more in the long term. @SnowsofNebraska open.substack.com/pub/alexfe…
Intelligent investors, here's another Shark Ninja type of event-driven opportunity to take advantage of the US-CN decoupling. I'm thinking about 60% return in a year.
Samsonite (1910 HK)- another homecoming queen , by @SnowsofNebraska open.substack.com/pub/alexfe…
SN released its 23Q3 results earlier today. Quite strong IMO. Upgraded the full year rev, adj. EBITDA, and adj. net income guidance, which is very impressive as most other US consumer companies I follow have downgraded their guidance.
I forgot to mention SN is going to pay a $1.08 special dividend. I was worried that the company would issue equity at some point. From this move, they seem to be quite happy about their cash and debt positions.
Jeffries just initiated SharkNinja (SN) with a Buy rating and target price of $67! More of sell-side coverage will follow. The GS Global Consumer Conference on Sep 12th will be another catalyst!
SN's just announced its Q2 results. Extremely strong: sales +22%, adj. EBITDA +40%, adj. net income +40%. FY23 guidance: sales +10-12%, adj. EBITDA +25-31%, adj. net income +20-27%. That's great improvement compared with Q1 and better than peers!
Home sweet home: SharkNinja (NYSE: SN), a global household appliance leader, by @SnowsofNebraska open.substack.com/pub/alexfe…
The bad: GAAP net income down by 28%, mainly due to FX losses in other income. I hope they can deliever strong GAAP. And the mgmt repeatedly talked about its new product Ninja Thirsti, of which I'm not a big fan. And I hope they can have slides for the quarterly results.
Other good things include: $200m OCF in H1 compared with $-14m last H1. Retailer destocking is over and the guidance doesn't expect dramatic restocking from retailers. More sellsides participated in the call.
Home sweet home: SharkNinja (NYSE: SN), a global household appliance leader, by @SnowsofNebraska open.substack.com/pub/alexfe…
