Update: I sold out of the position as management blundered hard.
I wouldn’t be surprised if this goes bankrupt. I will go into more detail about the mistakes and ways I could have seen this coming in the next annual letter.
In my previous post, I talked about the current inflation cycle and how I believe some small, leveraged, cyclical suppliers that are profitable present an opportunity at current valuations (especially those that overstocked on inventory).
Delta is one of the positions I hold to express that view.
