Conversations with Jaguars – September 29 ($ESS, $VNO, $SLG, $AXSM, $CRSR, $VRT)


WSJ reports only 10% of NY office workers have returned as of Sep 10th. This is bad in so many ways, particularly for debt-laden commercial REITs such as $VNO $SPG $SLG $ESS, etc. Be careful if you are long $AXSM with Bank of America initiating with a Sell rating today on concerns that all major launches happening in 2021 are in matured and saturated markets while expectations are high. $CRSR is brand new IPO happened 4 days ago. Looks very promising with +42% YoY revenue growth and trades at only 1.1x Sales. Stock is running strong. Lastly, an update on $VRT which was covered previously. Over the long term experienced management is expected to see 1500 bps margin improvement. Chart bouncing off trend support.