Why is there no love for CRSR?

nananan
2021-09-05

With liquidity at all time high, it is normal to find companies with forward PE of >25. This is espeically true for tech companies with projected growth in the double digits.

So, why is Cosair Gaming (CRSR), one of leaders in gaming and streaming hardware have such a low foward PE of <20?

As far as I can find, there is absolutely nothing wrong with CRSR. And as a gamer myself, their products are often comparable with the best in business ( Logitech, Razor, Noctua ). They also have more or less a monopoly for high end DRAM sticks and streaming equipments.

However, in the short term, the stock price isnt decided by valuations. Merely but how much people are willing to buy or sell. And in the case of CRSR, there is fund that would like to sell out of CRSR. The name is Eagletree.

They are selling because they are too heavily weighted on CRSR, and that was their plan all along. Eagletree was an early investor in CRSR, and greatly helped CRSR with their growth and eventual IPO. It is normal for the fund to reap their rewards. They still have a huge holding on CRSR, so I do not expect CRSR's price to go anywhere anytime soon.

No one knows when Eagletree will stop dumping CRSR's shares. But once it stops, expect it to moon.

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Comment（7）

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  • 老夫的少女心_
    ·2021-09-05
    既然有抛售，肯定是看到了风险，要不然怎么解释?
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    • nananan: 
      They need to reduce their allocation.
      Otherwise, the people invested in Eagletree will ask, if all you invest in is CRSR, why should I invest in uou? I can invest in CRSR myself.
      2021-09-06
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  • 哎呀呀小伙子
    ·2021-09-05
    Eagletree何时会停止抛售CRSR的股票?什么时候停止来再来买。
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    • nananan: 
      No idea. But when CRSR IPO, Eagletree had ~90% of CRSR. Few weeks ago, it was ~50%.
      2021-09-06
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  • 宝宝金水_
    ·2021-09-05
    Cosair Gaming(CRSR)是游戏和流媒体硬件的领导者，这确实也是他股价未来想象力的一部分。
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  • 小时候可帅了00
    ·2021-09-05
    这个股我也一直看着，只不过目前好像游戏股不怎么受欢迎吧?
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  • 揭人不揭短
    ·2021-09-05
    小于20倍的市盈率，跟其余的公司比确实还有很大空间。
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