MisterBlues schreef op 22 februari 2022 17:50:
Er zijn best wel wat punten om kritisch over te zijn: de kosten voor uitbreiding naar non-government-opdrachten is voorlopig duurder dan er binnen komt, de SPACs lopen niet zoals verwacht, de verwatering van aandelen door de torenhoge compensaties van personeel in aandelen.
Hier een goed beargumenteerd kritsch stukje:
.................. Over the past year, Palantir has implemented a strategy to diversify sales away from government customers, its primary revenue source. Palantir aggressively has invested in the PIPEs (private investment in public equity) of SPAC deal target companies while simultaneously signing software contracts. Perhaps Palantir management envisioned a virtuous circle: Invest cheaply as companies de-SPAC; sell software to these emerging growth companies with newfound windfalls of SPAC capital; earn cash flow to invest in more SPAC deals; then, finally, Wall Street applauds growth with a top-dollar valuation. Instead, Palantir is losing investment dollars while Wall Street discounts this incestuously earned revenue and finds far less growth under the hood.
How would Palantir's growth look without this SPAC revenue? Once the corporate selling SPAC strategy is stripped out, Palantir's overall revenue grew 26% year over year instead of the 34% reported. Reported bookings fell 6% year over year but declined 31% without the attribution of strategic investment booking. A remarkable 27% of bookings were the result of SPAC deals.
It can be argued that these "strategic investments" in SPACs have come at a high cost, considering the sizable valuation decline of the stakes in these companies. Of course, the value may increase over time, but Wall Street still perceives this as a questionable corporate strategy to drum up sales.[...]
Ik zou nog even wachten met bijkopen of instappen tot het op de 5 dollar staat.