Sell SPSC by Oct 23, 2026.

**Quick background**: SPS Commerce (SPSC) runs the largest retail-focused trading network in North America — the cloud plumbing that lets \~3,000 retailers and tens of thousands of suppliers swap purchase orders, invoices and shipping docs through one connection. FY25 revenue was $752M (+18%, but M&A-flattered), \~69% gross margins, $152M free cash flow, and a net-cash balance sheet (\~$144M, effectively no debt). The stock round-tripped off its 52-week low near $49 to \~$61 now (24 Jul 2026), still down \~57% from …