Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Sunday, October 25, 2026

Back to today

From X

@StableBread

Fajasy on X

$ATII now base:0x1a5f7931e5d450c666fd8706300b984fc4aeaba3 -- Forge Nano completed its de-SPAC merger and will list on NASDAQ on October 22, 2026. The merged company will receive $100M from the PIPE investor, who buys 2.97M shares, 7.03M pre-funded warrants (effectively shares), and 15M warrants at $10. An additional warrant reset could add more dilution if the stock is below $10 after six months, with a floor of $7.28 if a $200M debt deal is secured. Over 22 million SPAC shares were redeemed for $238.4M (approx. $10.73/share), leaving only $8.4M in the trust account for the combined company! Not the greatest as this significantly limits the cash available for operations and growth. On the other hand, the company has expanded its Taiwan semiconductor footprint, demonstrated a 1,000:1 coating demo, deeper Samsung SDI ties, a pharma JV with Nanexa, and broke ground on its North Carolina battery gigafactory. Wrote a deep dive here couple months ago btw: https://t.co/XchBCEYQ1q
@orrdavid 11 clicks

David Orr on X

The next 5 years could be an incredible stock picker's market. Long the companies that win from AI efficiencies but whos business is not threatened by AI. Companies who get to fire their lawyers and accountants etc but already have an impossible to beat scale advantage (because AI does not attack that scale advantage). Short the companies that lose from big AI threats. $RSP $SPY $IWM etc could go nowhere for 5 years while half the stocks trade down 70%, half trade up 70%.

Investor Letters

All letters

MYR Group q3’26 Earnings Preview

MYR Group’s Q3 2026 preview cites data-center and power transmission demand, with long-term service agreements supporting margin growth and…

MYRG $4B
Monte Independent Investment Research 5 clicks

Mosaic, Part One: The Story

Mosaic’s history traces the 2004 Cargill-IMC merger and the phosphate and potash mines that shaped NYSE: MOS.

MOS $5.5B
Latticework by MOI Global 33 clicks

Mosaic, Part Two: The Deep Dive

Mosaic, NYSE: MOS, is the subject of a second audio program for professional investors analyzing fertilizer producers.

MOS $5.5B
Latticework by MOI Global 4 clicks
JBFCY · long

Jollibee Foods CORP

Jollibee Foods trades at PHP 144, about 56% below its January 2019 high, framing a long thesis on the Philippine restaurant operator.

JBFCY $2.5B
Value Investors Club 1 click

Unicycive (UNCY):

Unicycive’s oxylanthanum carbonate NDA earned a March 25, 2027 PDUFA date after two manufacturing-related rejections, with no FDA clinical…

UNCY $108M
Triple S Special Situations Investing 4 clicks

GLOO, part two

Gloo faces related-party deals, insider-heavy IPO ownership, acquisition losses and $84.5 million of CEO-backed puts as it burns cash and…

GLOO $291M
Guardian Research 4 clicks

Why I sold OB pick for 26 SVM

Silvercorp’s falling Ying grades, prolonged GC suspension, El Domo execution risk and Chaarat funding needs weaken its valuation despite…

SVM $2B
The Oak Bloke 27 clicks

Vicor Update, Part Three

Vicor’s $66.6 million in AI power-delivery royalties generated about $50 million of operating profit, eclipsing its module business as…

VICR $8.1B
CV's Substack 28 clicks

Publications we follow

Every publication on this site, hand-picked.

128 publications

Newsletters 108

YouTube 4

Blogs 15

Seeking Alpha 62 of 253

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

190 firms

Sectors

Ordered by how often our editor reaches for them.