Just Eat Takeaway.com N.V.
JET
position
long
Alex Captain, Cat Rock Capital
Thesis
JET is a high-quality online food delivery business with strong network effects, recurring revenue, and pricing power. The company is expected to grow significantly due to low penetration rates in the online food delivery market and has proven profitability in various international markets.
Did it work?
failed
confidence: high
The stock pitch for JET was based on the expectation of significant growth and strong fundamentals in the online food delivery market. However, with a price performance decline of 93.8%, it is clear that the thesis did not materialize, indicating a failure of the investment thesis.
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