UNFLAGGED RESEARCH

On October 20 of the current year (2021), a french company named Atos, was going to report Q3 earnings. For a more than a year, it had been my main or only investment. I was all in with leverage through options and ready to hold through earnings. Being on charge to cover Atos at Unflagged Research, I invested more than 1000+ hours researching the company. I even visited Atos Switzerland Headquarters in Zurich and reviewed all of Atos business operations (More than 100 finalized, offered and already delivered solutions). The result: I was hyper bullish. On July 23 of 2021, an article I did was published on our Unflagged Research website. In it, I explained my bullish thesis and released on Atos a price target of 800€ for July 2024. Atos shares were at 39.8 € back then.  However, on October 14 (6 days before Atos Q3 Earnings) we issued an urgent update on our rating. We halted our price target and recommended liquidating any Atos shares being held. This sudden turnaround was because ...

270 days ago, on March 17 of 2021, we released our first article on this website. We were recommending to buy Swissquote at 106CHF. We forecasted a market capitalization of CHF30 Billion by 2025, when the company's market cap was CHF1.5 Billion. Right now, Swissquote's stock sits at 201.5 CHF and their market cap at CHF 3 Billion. We think that the increase of the stock's price has deviated from the company's real performance. We now forecast a declining customer growth that could reach negative territory. When we first released our 2025 forecast, we expected new customers to arrive consistently until 2025 and growth to only debilitate late on 2023 or early 2024. In contrast, we now expect the growth to stop on the second half of 2021. Swissquote's valuation continues to price-in excellent growth for the coming years. We currently think this growth is no longer achievable. Since risks easily outnumber any opportunities on Swissquote's current valuation, we belie...

  Victoria's Secret simply undervalued, B&BW simply overvalued Traditional metrics make Victoria's Secret ( or "VS" ) flat out undervalued. Price / Sales sits at 6, Per at 5.94, Market cap at $4.4 Billion and annual revenue at 6.62 Billion. Why is this the case? Is something fundamentally wrong  with the business or is this a great deal in the stock market? VS has been a declining business during the past decade. The constant decline in revenues is already priced in the company's valuation. However we, at Unflagged Research, think the business is at an inflection point for the following reasons.  Overspending stopped. VS' Angels and VS' fashion show no longer exist or take place. This dramatic cut on expenses has allowed the company to have flexible expenses that follow their fluctuating income. However, everybody already knows Victoria's secret. The company will now start to reap the rewards of those past expenditures on marketing. We can see this...

  Takeda Pharmaceuticals right on track to hit Price Target  • Takeda is a Pharma company from Japan formally started on 1981. The company is very attractive and there are many reasons for that. This is probably what you would expect from a $43.78 Billion pharma company.  • Takeda’s valuation has been however, very punished in the last months. There are three main reasons for that. 1)  The company has been helping moderna to manufacture covid vaccines in Japan and in August, because of Human Error, a batch of the vaccines manufactured in their facilities was contaminated with stainless steel particles.  2) On October, Takeda halted the trials of an experimental sleep disorder treatment.  3) The patents of some extremely interesting products from Takeda expire in 2023/2024. We will go more in depth into these products in a separate paragraph because they are key for our valuation of Takeda as a company.  • All of these bad news, have led the valuation o...

Explanation behind Atos target price suspension and liquidation alert for Atos shares on October 14 Atos' earnings results for the third quarter of 2021 will be announced tomorrow, October 20 after the Euronext Paris market closes. Last Thursday, October 14, I was extremely bullish on Atos and excited to see the results of this reporting period. In order for you to quantify how bullish I was, my entire investing portfolio was composed of Atos calls expiring on June 2022 at a strike of 52Eur.  However, on that same day, I found what I would describe as "a red flag" doing research on Atos. Because of what i found I rushed to publish a new article on my website titled "URGENT UPDATE - LIQUIDATE ALL ATOS SE SHARES HOLDINGS" in which I explained finding something concerning about Atos. In that article I also halted the 3-Year target price I had for Atos and urgently recommended to liquidate any holdings of equity in the company. I then shared the article on twitter a...

 UNFLAGGED RESEARCH 🚩 Previous Price Target of 800EUR Halted. The price target was for 2Q2023 and released on July, 23, 2021 when Atos shares were trading at 39.8EUR.  Link to that report: https://un-flagged.blogspot.com/2021/07/backing-my-800-target-price-for-atos.html Right Now shares are at 46.31EUR. The Profit if the position is liquidated completely now is 16.3%.  Many of the long term interesting fundamentals remain unchanged, but the price target is halted with immediate Effect in advance of Atos SE Q3 earnings that will come out on October 22, 2021.  Our recommendation now is to sell your entire stake in the company immediately.  More to come after Euronext market close.  October 14, 2021.  16:22 CEST

For almost a year, investors have been pilling into the “reopening trade”stocks and , given how easy and logical the reasoning behind those investments is, valuation of these assets have been pushed through the roof. The term “reopening trade” reflects the intention or interest to get financial exposure to industries or specific companies, that are expected to benefit from the return to normal economic activity. This return to normal is also referred to as “ (economic) reopening”, after lockdowns were imposed all over the world to stop the spread of Covid-19 early in 2020.  The main objective of this investing strategy is to get exposure to those businesses that were affected the most during the lockdown period and that are also expected to rebound the most.  Almost all of the companies that fell into this category are now hardly investable. Given the obviousness of the trade, the valuations at which these companies trade, already price in the whole economic recovery and more....

Clear Channel Outdoor, The Forgotten Company During the pandemic, outdoor advertising collapsed. Not only because no one was outside to watch any ad panels for some months during the peak of the pandemic. It also started what many analysts believe to be a long term trend, “The rise of digital ads on social media”. The general consensus is that people nowadays spend much more time looking at their cellphones than before. Even when they are outside. The generalized forecast is that this trend is only here to stay and that in coming years people will continue to spend more time looking at their smartphones.  This general consensus and fear of long term impact in consumer behavior, has left outdoor advertising companies out of the reopening trade and rebound in valuations. For this reason, many of those companies are trading at impressively low valuations. The biggest example of these industry in our opinion is Clear Channel Outdoor.  The generally accepted forecast has led this c...