Backblaze, Inc. (BLZE): A Bear Case Theory

We came across a bearish thesis on Backblaze, Inc. (BLZE) on Substack by Morpheus Research. In this article, we will summarize the bear’s thesis on BLZE. Backblaze, Inc. (BLZE)'s share was trading at $5.65 as of 29^th May.'

[caption id="attachment_1211495" align="aligncenter" width="768"] A close-up of a server running a cloud-native platform, symbolizing the power of the software-as-a-service (SaaS) business area.[/caption]

Backblaze (NASDAQ: BLZE), a $250 million California-based cloud storage provider, has struggled significantly since its 2021 IPO. Divided into B2 Cloud...