John Wagner
@TiehackCapital
About 1,300 stocks on OTCID as of today, with probably some laggards to come. Each issuer would've paid a $3,500 one-time application fee and $7,500 annual fees. ~$13-14M incremental revenue? Should be a solid quarter.
OTCM may reignite revenue growth by converting non-paying pink sheeters to OTCID for 5-10k a pop annually, starting in July. Thousands of ADRs and foreign shares apparently don’t pay fees might pay up to avoid expert market or pink limited. We’ll see how it turns out.
Some 20-something credit analyst / software dev is going to disrupt the credit ratings duopoly, and it will be glorious.
.@ragingbullcap today:
Stuck my hand in the wood chipper and bought some $KSS today
Fully out of Conrad Shipyard $CNRD. No strong view on barge/shipbuilding industry. Cutting flowers to water the weeds.
$FCMC trophy hotel assets in Cannes and St Barth at 10-12x earnings. Tiny <7% public float. Barriere family owns ~67% + Qataris own 26%. Squeeze out seems inevitable, just don’t know when.
For those looking at $DALN, perhaps you’ll consider a Canadian newspaper... FP is essentially the same, but profitable. Family-controlled. Dominant share. Owns a large building. Could be a >$2 CAD stock in a change of control. Disc long. DYODD. illiquid. Not advice
FP Newspapers Inc. open.substack.com/pub/tiehack/p/…
$DALN
Hearst owns: Austin American-Statesman Houston Chronicle San Antonio Express-News Beaumont Enterprise Laredo Morning Times Midland Daily News Plainview Herald It may want to establish a beachhead in Dallas. Perhaps it will acquire $DALN, and package all TX news in one product.
