InsideArbitrage April 2026 Mid-Month Update – A Potential Software Deal

This is one of the strangest markets I have seen in 25 years of investing. On the one hand we are in the middle of an ill-planned war that has the potential to lead to an energy crisis in several countries, and on the other, the S&P 500 is a stone’s throw from all time highs.

The Fear & Greed Index, which had dipped into deep fear territory when we wrote our last newsletter just two weeks ago, has rapidly rebounded to neutral.

AI related stocks are leading the charge forward as seen by the recent performance of our portfolio companies like Marvell (MRVL) and SanDisk (SNDK), and even software companies appear to have caught a bid. In this environment I wanted to continue with the theme of our last newsletter, which was near-term special situations such as potential deals or “deals in the works” as we like to call them.

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