What are your thoughts on the Report from Spruce Point Capital Management about LSPD?

Hey guys,

Did you see the Investment Opinion from Spruce Point Capital Management ?

I know you guys said LSPD is very volatile and you believe in the underlying company – but what do you make of Spruce Point’s analysis

Here is a snippet:

Questions Lightspeed’s Ever-Changing Definition Of Average Revenue Per User, Which The Company Claims Is Growing Despite A Former Employee Telling Us That “Average Revenue Per User As A Whole Has Dropped Significantly”
Reveals Evidence That Lightspeed’s Costly $2.5 Billion Acquisition Spree Has Been Plagued By Growth Issues And May Be Used As Means To Paper Over The Company’s Declining Double-Digit Organic Growth Challenges And Shrinking Total Addressable Market
Believes Lightspeed’s Heavily-Promoted Payments Business Has Experienced Rapid Margin Decay And Discloses Comments From A Former Payments Employee Who Revealed That The Company’s Gross Transaction Volume Metric Is “Smoke And Mirrors” And “Not Verified Payments”
Asserts That Lightspeed Will Lose Out To Existing Competitors Like Shopify And New Competitors Like Amazon Due To Its Lagging Ecommerce And Omnichannel Capabilities
Sees 60% To 80% Long-Term Downside Risk To Lightspeed’s Share Price And Urges Investors To Visit www.SprucePointCap.com And Follow @SprucePointCap On Twitter For The Latest On $LSPD