Investment Thesis
In our previous article on Progyny Inc. (PGNY), we discussed the great attributes of this business which offers a unique value proposition and has exhibited tremendous growth over the last several years. What's more impressive is that despite the aggressive top-line growth, the business is profitable and will likely grow its margins in the near future. However, we also discussed the elevated valuation at which the stock was trading near its IPO and cautioned investors to monitor from the sidelines. To date, the market has certainly not ascribed to our view