The most overlooked part of the Wix story may be Base44.

Wix bought it for around $80 million.

It has reportedly scaled to roughly $150 million in ARR.

Comparable AI app-building platforms have raised at multi-billion-dollar valuations.

Yet inside Wix, the market appears to be giving Base44 very little value.

That creates an unusual setup: investors may be getting a profitable core software business, plus a fast-growing AI asset, at a distressed multiple.

Management has already retired nearly 30% of shares outstanding and authorized another $2 billion buyback. For context, $Wix’s market cap is only about $2.6 billion.

That is why I took a closer look.

Full research here: therationalcapitalist.s…

#Wix #CannibalStocks #StockBuybacks #FreeCashFlow #AIInvesting #