Aug. 21 at 4:44 PM
$BLND It’s hard to fathom that (despite being UP 12% today) this stock is trading at such a steep discount from its IPO price. I recognize the mortgage market / landscape is very different vs. 2021/22; however, this company (and its earnings) are very different, as well. Think about how quickly that Nima and team were able to pivot their entire business — off-setting the decline in mortgage originations by (QUICKLY) recalibrating their platform to participate in capturing a bigger share of a bigger segment. And they did this out of necessity, but strategically it was even more important. I’d have to believe the multiple on the non-mortgage component of their business will be higher than its core. And, as that portion of the business continues to grow, this stock will see OUTSIZED gains. Again, IPO’d at
$20ISH… And we own a MUCH better company TODAY at a fraction of that.
