DIS - Limelight Networks: An Absurd Market Cap Should Bring A Suitor

• Sector tailwinds and macro trends have given CDNs a boost this year, but some of that wind has been taken out of the sails via a market pullback.
• The fundamentals of the sector have only strengthened as covid keeps forcing shutdowns around the world and shelter-in-place orders.
• Content providers are at war to gain market share, and that war is only going to heat up and CDNs will reap the spoils.
• We may have been early to the party on LLNW, but our fundamental research is sound, and the current valuation makes a material transaction likely.

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