Builder.ai Files for Bankruptcy After Creditors Seize Accounts
By and Mark Bergen
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Builder.ai filed for bankruptcy in the US after creditors seized most of the cash in the British startup's bank accounts.
The company published a list of creditors in a chapter 7 case in a Delaware bankruptcy court, Builder.ai said in a filing dated June 2.
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So the shares as you can see are tumbling there. Um and you know, really it was that billing's forecast that accounts for the declines here. I I you know, DocuSign has been such an interesting story because obviously this was a pandemic sort of really sea change in the way that we signed documents. But since then the normalization happened and then it just hasn't seen that recovery. I mean I was looking back to 2021, the high in the stock 31005 was the high and it's trading what around 75, 76 now. So it's and it's just been bumping along at this level for a very long time. Yeah. So what do Bulls say on a day like this when the stock is just getting wrecked here? Uh team at Jeffries led by Brent Till, uh friend of the show. Uh Brent is sticking with this one. Uh told his clients he would consider that reaction overdone. He still sees this one in his words as a top mid-cap value play. He says he argues the Q1 jitters will pass, product stories broadening out, no change, he says, to leading core signature business. Maintains the buy. He is in the minority though, right? Because there are five buys on this one, 15 holds, and one sell. Target 105. All right, Manchester United shares are up after reporting third quarter earnings despite missing revenue estimates. The football club sharing some rallying news and adjusting their forecast for remainder of the year. Uh this one stock jumping, football club boosts its adjusted guidance for the year. Uh I do see some analysts out there saying, and this is the team also, Jeffries, uh saying the company raised the sales outlook, increased the adjusted guidance, reflects the impact of ongoing cost-cutting efforts. They have a buy. Target is 26. Man United has had a rough year. And so this coming it's down hard because they haven't been playing well. Um and so, you know, it's funny because obviously we don't have really a lot of publicly traded access to sporting teams here in the US, but in Europe, the fate of the stocks is frequently tied to whether they're winning or losing because the thinking I guess if they're losing not as many people are going to be spending money on the club. Um and Man United had a bad season. It lost the Europa League final against Tottenham. Um and that that was back in late May and we saw the stock really drop on that. So this a relief for investors. It looks like that they're cutting cutting costs and trying to to mitigate some of the losses. And it's three. I mean, there's not a ton of coverage and they're split anyway. Two buys, two holds. Yeah. All right, let's talk about Petco. Health seeing losses today following the announcement of its first quarter earnings. Sales for the company down 2.3% this quarter. Comparable sales fell 1.3%. The pet supply retailer says that tariff uncertainties are a primary cause. In addition to growth initiatives which aren't expecting results until late 2025 here. So, um I feel like, you know, Wolf is the ticker on this. And I feel like we always make sort of the Wolf joke because they've had some disappointing quarters as of late. This is not the first that we have seen here um for Petco, unfortunately for them. City uh neutral on this one. I see them cited as saying they see the results is actually encouraging. Uh they argue the weakness was overblown. Changes, they told their clients, are happening in stores which could potentially drive a return to sales growth in the second half. Tariffs, they they emphasize, are being mitigated. Uh stock is down pretty hard this year about 25%. Most analysts like City are are on the sidelines. I mean, you're a pet owner. I know we've talked about this before. Are you a Petco customer? I am not. I'm not a Petco guy. We go in there occasionally. But usually I mean, I think a lot of pet owners you know, order their stuff online now. And City says, uh to your point, the cat category we set in May and the dog category we set last week in case you're wondering. For those of us with dogs and cats. Big news there. I've just a dog household in my case. Nothing wrong with that.
