Remains bullish despite a 55% drawdown, believing the stock has found a long-term base.

Position is currently in the red, but held due to belief in strong fundamentals.

Identified as a 'loser' in the current market rally, failing to participate in the recovery seen by other growth names.

Stock dropped due to fears of AI replacement, but the speaker argues the market is ignoring the app's addictive user engagement.

Stock dropped 20% on slowing forward guidance and flatlining MAUs, though it maintains high market share and aims for $700M EBITDA by 2028.

Despite a significant price crash and weak 2026 guidance, the company has strong cash reserves and a low valuation relative to free cash flow. Success depends on a strategic pivot to AI integration and user growth in new verticals like Math and Music.

Cited as an example of extreme market volatility, down significantly from its peak.

Identified as a 'thin' software layer that is easy to disrupt and less safe than vertically integrated infrastructure.

Declining MAUs and weak guidance combined with narrative risk from free AI models like GPT and Claude.

Mentioned as a high-growth stock suffering from the current market environment for innovation stocks.