BLND
Blend Labs, Inc.
stock NYSE

I'm on the look out for some new mid-cap ($2-$10billion) ideas
I've got a few ideas myself but mostly from the UK market (RMV, BLND.L, and RTO) looking to expand my scope a little more especially for Europe
I know this sub rewards higher effort posts so I'll give my own analysis for Rightmove (RMV) even thought I've seen a few already:
Largest property website in the UK
\~80% market share, 19 P/E, rising FCF and falling debt over the past 5 years, £5mil in debt and £40mil in cash, and rejected a takeover bid with 50% upside in 2024
The UK govt have also just passed a law ending minimum tenancies for renters allowing for a more fluid rental market and more eyeballs on the website
Independent Franchise Partners (IFP) have quietly built a 5% stake over the past few months, one of the largest shareholders, could be priming it for a takeover bid?
**BULL** case: Uptick in the UK housing market + law changes (Renters Rights Act + Planning & Infrastructure Bill) lead to more fluidity in the housing market - particularly individual renters, leading to more eyeballs in the website and therefore higher revenues. AI rollout leads to better data optimisation and advertisers pay more as a result
**BEAR** case: AI rollout flops leaving tens of millions down the drain, profits suffer as a result and market competitors (Zoopla and OTM) make ground on the 80% market share
[https://www.rightmove.co.uk/](https://www.rightmove.co.uk/)

I'm on the look out for some new mid-cap ($2-$10billion) ideas
I've got a few ideas myself but mostly from the UK market (RMV, BLND.L, and RTO) looking to expand my scope a little more especially for Europe
I know this sub rewards higher effort posts so I'll give my own analysis for Rightmove (RMV) even thought I've seen a few already:
Largest property website in the UK
\~80% market share, 19 P/E, rising FCF and falling debt over the past 5 years, £5mil in debt and £40mil in cash, and rejected a takeover bid with 50% upside in 2024
The UK govt have also just passed a law ending minimum tenancies for renters allowing for a more fluid rental market and more eyeballs on the website
Independent Franchise Partners (IFP) have quietly built a 5% stake over the past few months, one of the largest shareholders, could be priming it for a takeover bid?
**BULL** case: Uptick in the UK housing market + law changes (Renters Rights Act + Planning & Infrastructure Bill) lead to more fluidity in the housing market - particularly individual renters, leading to more eyeballs in the website and therefore higher revenues. AI rollout leads to better data optimisation and advertisers pay more as a result
**BEAR** case: AI rollout flops leaving tens of millions down the drain, profits suffer as a result and market competitors (Zoopla and OTM) make ground on the 80% market share
[https://www.rightmove.co.uk/](https://www.rightmove.co.uk/)