◆ Contrarian Corpus
Campaigns / Spruce Point Capital → Lightspeed Commerce, Inc.
Spruce Point Capital vs. Lightspeed Commerce, Inc.

Lightspeed Commerce, Inc. · LSPD

1 deck published between 2021-09-29 and 2021-09-29 — 125 pages, 125 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2021-09-29 initial thesis

    2021 09 64e79d60a28273be82195de7_lspd_research_thesis_9 29 2021

    125pp · full_deck

    Lightspeed is a cash-burning POS roll-up that inflated its pre-IPO customer count by 85%, hides organic decline behind acquisitions, and should re-rate 60–80% lower to $22.50–$47 as Shopify, Square, Adobe and Amazon crowd it out.