Rover Looks Exposed At 40 times EBITDA
This doggy business is set to roll over.
📍 TLDR
Amid a sharp rally in speculative stocks, ROVR has gained 60%, including 17% just last week.
Valuation is potentially reasonable in the context of current performance.
But the pet services platform is set for decelerating growth as travel normalizes, and the model has long-term question marks.
This business simply isn't that strong. Betting the comp…