Brendan Caldwell Lightspeed Commerce Inc LSPD-T Unspecified Sep 22, 2025

He never owned this, never liking their growth-at-any-cost strategy and sacrificing margins. POS is a very competitive market with little difference between companies.

Would wait before buying. Recent announcement of company under strategic review sale process was not successful. Old CEO returning, but not too optimistic. Better options for investors in the markets. 

They bought good companies, but they used their expensive stock to close those deals. But then shares took a hit and they lost that power. They tried to sell, but couldn't find a buyer. Then, they issued poor guidance. Brutal. They went get their past super-high multiple.

Lowered outlook, analyst downgrades. Trying to focus on NA retail and European hospitality. The question is whether you want to catch this falling knife? You could buy a small position here, but he'd prefer writing a put, obliging yourself to own it ~$10 and get paid a nice premium.

He still models 21% EPS growth, trading ~20x. 

We think LSPD remains a sell. We have some previous comments posted, but it has had enough 'chances' and was also unable to sell the company. 
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Management has reestablished its credibility; still some work to do, and that's why they didn't want to sell. Very robust platform. Owns in some of his separately managed accounts, though not in his fund; means it's less investable and more of a trade. Products and services are top-notch.

A growth stock in tech, so it is twice as volatile as most stocks. More speculative than most, though not expensive right now. It made a low recently around $7, so it's move up a lot since then. Too risky for him. But if it re-test the recent low and holds, that's a better entry point.

Bought recently on weakness. Tried for corporate restructuring, but nothing's happened. Focusing on a higher-end but smaller customer base, which is taking time to implement. Tech company trading at 2x revenue, starting to generate operating cashflow. Cheap valuation, buying back a ton of stock. Worth at least a trade.

When he called it, the stock was -80% from its peak and trading at a cheap 2x sales. They were looking for potential buyers. Altogether, the stock held promise. The stock rallied to the mid-$20s, but no buyer emerged and reported a few tough quarters. He owns it again when it fell lower. Is generating free cash flow. Something could happen. He will give it a couple of quarters.