Out of $TDOC and seriously considering exiting $SQ .
For different reasons:
-Teladoc: I’m not seeing an impact of the Livongo acquisition and Gorevic avoided giving direct answers in the earnings call. And yes, I was bagholding and running out of patience.
-Square: I don’t understand why Jack only wants BTC in Cash App, it just doesn’t make sense. We all know Jack is a special guy, and that means you have to buy him all (like Musk). Yellow card, one more and you’re out!
I see some similarities in the market's misunderstanding of $TDOC and—I realize you didn't mention this one and I'm not sure how you feel about it—$PINS. With both of these, it's the improved monetization and utilization that I think folks are looking past. Year over year, number of paid members at $TDOC rose just 1% but visits were up by 27%! Meanwhile at $AMWL, total visits were down 19%. I'm long $TDOC.
@tomato It’s not only misunderstanding, but how the market and themselves seems to measure their success. $PINS shouldn’t be that focused on MAU, but on ARPU. And $TDOC reports visits, but what I like about them is their remote monitoring capabilities. I want to know more about that usage and stickiness, not how many people has had a tele-visit with their doctor. That’s the least interesting part of the business to me.
(I got out of PINS a couple of months ago)
I agree on both takes. I always found that is strange that they never expanded the crypto offerings. It seems like they are going after a different client, they don’t want to compete with Robinhood they are looking to become a next-gen bank. This is why they have focused on the Cash card usage, direct deposit, and now accounts for teenagers.
From a revenue perspective, not accepting other crypto is frustrating. However, if they can continue to execute without it then 🤷♂️
Jack acts like some savior of the universe with his focus on bitcoin. His ego is no longer in my portfolio. I will use these funds better. Unfortunately, I did not pay much attention to management when I was opening this position, but at least I did not suffer any financial loss here.