SPX Corporation
SPXC
position
long
Elie Mishaan, Bryant Street Capital
Thesis
Elie Mishaan from Bryant Street Capital sold SPXC because its multiple exceeded their view of fair value, but he acknowledges that it has performed well since the sale, indicating a strong underlying business despite the decision to sell.
Did it work?
inconclusive
confidence: low
The pitch indicates that SPXC was sold due to its multiple exceeding fair value, but it also acknowledges that the stock has performed well since the sale. Without specific price performance data or a defined time frame, it's unclear whether the thesis has played out or failed.
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