Sell WIX by Nov 18, 2026.

Today I trimmed my Wix position to less than 1% of the portfolio (and if it dives back down I will happily buy more again). Last month I posted my Wix thesis on my blog with my model pointing to an intrinsic value of about $90 for FY26 and growing to $120 by FY32 indicating a 7-year IRR of about 14%. The thesis was not that Wix was going to return to high growth or see margins expand, but that …