JOYY Inc. (JOYY): A Bull Case Theory

The article summarizes a bullish thesis on JOYY Inc. from Triple S Special Situations Investing's Substack. It highlights JOYY's profitability, significant net cash position ($3.3 billion as of Q3 2025), and shareholder return programs. The author argues that the market undervalues JOYY due to concerns about China's regulatory environment, creating a disconnect between the company's strong fundamentals and its stock price. The thesis suggests a potential price target of $100 per share if the company were valued more typically.