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Wednesday, November 4, 2026

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Site Centers (NYSE:SITC)

Site Centers' $3 per-share return-of-capital distribution and December delisting leave a discounted liquidation stub, with two properties remaining and shared-services costs running through…

SITC $192M
Real Assets, Real Value 5 clicks

From X

@majgeoinvesting

Maj Soueidan on X

Absolutely right. And here’s why I like the CEO of $RFIL. He’s not touting “hypescalers” in his major TAM. He thinks some benefit will partly arise from the need for edge solutions because of data centers. He’s very quick to say that the opportunities are big in other areas. In my interview with him at the @MSmicrocaps 2026 virtual, I made sure to ask him how penetrated the telecom DAC opportunity was. He said barely. Will be interesting to fact check that, but that means the opportunity is pretty big and wide open. Back on the subject of data centers, I’m also hearing that modular data centers are finally gaining momentum. So, even though RFIL would not have a solution for hyperscalers, I’d presume they can have some presence in the modular business.
@BrokenMoats 1 click

Broken Moats on X

2 questions: How come there are no institutional owners of this business (small cap fundamental funds, not the two ETF asset aggregators)? Whats the right multiple for a business that has burned 20m in FCF YTD (isolating SBC as it may not be a "cash" cost but is dilutive) on 45m in gross profit? Legitimate question? 4.4x ev/sales does not say cheap to me looking at their financial profile or where more asset light businesses are taking currently The history of these type of CapX security companies has been rather poor. Look at $SSTI and theres been others in the small cap space. Maybe this one's different I have only briefly looked at the business a few times over the years.
@DOMOCAPITAL

DOMO Capital Management, LLC on X

What makes $MNRO even more interesting is that short interest is ~22.5% of shares outstanding and 41% of the float as not only does Icahn have ~32% of shares tied up, but Gabelli (GAMCO) is also involved. This is probably why cost to borrow is so cheap. Shorts are betting on a dividend cut, but completely ignoring the fact that Icahn/Gabelli and others have 40%+ of the shares. Icahn is now flush with cash from the sale of Pep Boys to Mavis. He can either offer similar terms for $MNRO and buy the remaining shares for $25/share and come away with a superior asset vs Pep Boys or he can push for a sale of the entire company at a similar price or even more. Poison pill expires November 6th... going to get interesting. If there ends up being a proxy battle then all of these shares would have to be called back which would significantly increase short borrowing costs....
@InvestSpecial

Dalius - Special Sits on X

Love me some microcap crap. $GLND, an early-stage oil exploration company in Greenland, has just more than doubled in value. Well, of course, the Greenland-Denmark-US security agreement was announced. It all makes sense now: there is oil in Greenland, so obviously the agreement means the oil will be extracted. Perfect connection. To be serious, though, this is one of the most promotional stories I’ve seen recently. Why? GLND plans to drill what the CEO claims could be $1T worth of oil reserves in Greenland. The problem is that not a single well has ever been drilled on this land. The company does not even have the green light to drill yet. And btw, GLND doesn’t even own the licence. $80M.L owns it and is currently being acquired by GLND. The spread is extremely wide, but I wouldn’t touch it. The whole thing smells fishy. 80M.L and its management also have a terrible track record of dilution built around promises of enormous exploration potential across other Greenland projects. Unsurprisingly, very little came of those stories. The worst part here is the media coverage. It largely misses the promotional nature of the story and instead keeps feeding the Trump/Greenland narrative that management appears happy to lean into. That is also why you now get a huge move in GLND on a security agreement that, as far as the underlying oil project is concerned, changes essentially nothing. Microcap world is a fun place to be.

Investor Letters

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Namib Minerals: Research Flash

Namib Minerals accelerates Redwing’s restart, targeting first gold this month and a ramp from 338 ounces monthly to 835 ounces by Q2 2027.

NAMM $46M
Atrium Research - Equity Research 6 clicks

Initiation Report

Nine Mile Metals is initiated under research coverage.

VMSXF $14M
Atrium Research - Equity Research 2 clicks

Verra veerer

Verra Mobility’s Avis termination threatens 2027 earnings, while Government Solutions profit rose 25% and implied fourth-quarter guidance…

VRRM $333M
The Oak Bloke 3 clicks

TSOH Weekly Roundup (10/30/2026)

Markel spent $315 million repurchasing shares in Q3 as Thrive agreed to buy ADT for $7.6 billion and Hasbro cited rising adult toy demand.

BBW $371M
TSOH Investment Research 1 click

OSS Q3 FY12/26 Earnings Analysis

One Stop Systems grew Q3 continuing-operations revenue 36% to $12.6 million, raised FY2026 revenue guidance to $45 million, and used $11.8…

OSS $117M
Cestrian Capital Research 1 click
ONT · long

Onterris INC

Onterris, formerly Montrose Environmental Group, trades at 8.6x next-12-month EBITDA as an environmental consulting and response services…

ONT $739M
Value Investors Club 1 click

Bimergen Energy: Research Flash

Bimergen Energy filed for a Texas retail-power license to supply data centers directly and gained eligibility for federal contracts through…

BESS $22M
Atrium Research - Equity Research 3 clicks

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