Here’s Pernas Research’s Investment Thesis for Upwork (UPWK)

Pernas Research LLC manages assets in the “Pernas Portfolio” released its third quarter 2024 investor letter. A copy of the letter can be downloaded here. The portfolio returned 18.3% in the quarter compared to a 5.9% return for the S&P 500 Index and a 9.2% return for the Russell 2000 Index. During the quarter, inflation fell, the Fed dropped rates by 50 basis points, high-yield spreads tightened, and some of the portfolio’s smaller-cap stocks rose. In addition, please check the...