CDON: Early Days
Initiating Coverage
2021-03-18
08:15
Redeye initiates coverage of CDON, a high-margin and capital-light online marketplace with 2.3 million active customers and 1,500 connected merchants. While the recent rally has driven valuation to unsupported levels and the company now faces a formidable competitor in Amazon, we see long-term value in its exciting marketplace transformation and strengthening network effects.
MS
MH
Mark Siöstedt
Mats Hyttinge
Disclosures and disclaimers