Evil Diaries: A crash in the Peloton

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Evil Diaries: A crash in the Peloton

After my note last week about the potentially difficult climate which Pittards (PTD) might encounter in and around Addis Ababa, what with the approach of the Tigrayans, a very well-educated chap who clearly knows his Addis pointed out that all would be well. I hope so.

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Gabriel Grigo and his Quintessential Capital popped back into my life last week when he fingered Cassava (SAVA on Nasdaq). If Gabriel is right (and I suspect he is because he is a very intelligent and thorough sort of chap) SAVA is a wipe out in due course. The problem is stock borrow and time in the mad mad meme stock world.

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However, one chicken came home to roost last week in the shape of Peloton (PTON on Nasdaq). This company offers gym equipment at huge prices to all sorts of earnest if foolish people. But turnover is way down on estimates and PTON is losing money on an heroic scale whilst the competition is sticking up its nasty little head. PTON has taken about three years to break down.

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Finally I sold Geiger Counter (GCL) at 66p and put the proceeds into Logistics Development Group LDG) whose nav was disclosed 19p, all cash and no debt, last week. At this stage the upside is not that great but, equally, the downside does not yawn either. I paid 14p.


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