As previously mentioned, I was preparing an investment memo on a pair trade strategy: Long $MORPHO and Short $M. However, the speed at which I'm writing the report is lagging behind the price movements. Key Thesis: Fundamental Value vs. Speculation Long $MORPHO • Proven Product-Market Fit (PMF) & P2P Capital Efficiency • Market size increased %50 in just 3.5 months • Potential "Fee Switch" narrative Short $M • $0 Revenue against a $3.2 Billion Valuation • Declining meme trend & tokenomics uncertainties • Lack of tangible utility Price Movements Since Report Initiation (October 17th) • $M: Experienced a 34% drop. • $MORPHO: Experienced an 8% drop. I started writing the report on October 17th. I believe the recent decline in $M will deepen, which is why I did not wait to complete the report before taking action. I am also optimistic about $MORPHO for the next 4–6 months, expecting significant upside, especially if a "fee switch" is implemented.
- 0 replies
- 0 recasts
- 0 reactions