2510: The Exchange with James Thorne of Columbia Threadneedle

Thorne sees deep mispricing in UK small/mid-caps battered by short-term scares, with Trustpilot as his top 12-month pick.

• Trustpilot top pick: Thorne's favourite stock for the next 12 months; he frames it as an "AI winner" with its own LLM, a US market breakthrough, and ~40-50% forecast earnings growth, comparing its margin potential to Rightmove (50-60% margins vs Trustpilot's ~18%).
• ActiveOps crashes 45%: Shares fell after its largest customer signalled a software overhaul; Thorne calls it an overreaction, noting the stock trades at 1.4x EV/sales vs 4-5x peers.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.