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Monday, November 9, 2026

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41 Stock Pitches (2nd-8th November) 🟢

Blue Dolphin Energy trades near 1.3 times earnings as its Texas refinery benefits from diesel shortages, with projected 2026 EBITDA of $111 million against a $125 million market value.

BDCO $147M
Capital Employed 2 clicks

From X

@InvestSpecial

Dalius - Special Sits on X

While everything is down, $RSVR keeps delivering. Another solid Q2, another guidance raise. The review of the founder-led bid keeps dragging on. Given the steady improvements in the business, I wouldn't be surprised if the special committee is holding out for a higher price. A bump certainly looks possible. But with the spread down to just 1.5%, the risk/reward isn't nearly as compelling anymore. Up 17% since SSI write-up. Trimming heavily 👇
@ACapitalLP

A Capital on X

Great additions. Was starting with the more liquid names. $CODI is absurdly undervalued, with asset sales a clear catalyst. $STGW is fascinating. Nobody knows it because it sounds like what British people call a bachelor party rather than well known peers WPP or Publicis, yet the underlying growth is exceptional. More management meetings lined up than I can ever remember seeing. Hard to imagine investors walking out of those anything but impressed…
@StableBread

Fajasy on X

Fuel Tech $FTEK, the power plant pollution-control company, nearly tripled its air pollution control (APC) backlog this year, but none of the new awards came from data centers. APC backlog reached $16.6M as of September 30, up from $14.3M as of June 30 and $7.0M as of December 31, and the $3.3M of APC contracts announced with the results take it to $19.9M. In my August 27 deep dive, I said a first data center order or signed capacity reservation could land by the end of Q3. But none of 2026’s announced awards is a data center order, and neither the Q3 release, the 10-Q, nor the Q3 call mentions the reservation agreement management said in August it was negotiating with a potential data center customer. CEO Ramesh Nuggihalli did call the data center opportunity “significant” on the call, and said the 2027 budget factors in “some of the mega project bidding” that’s still underway. I don’t think management misled anyone, since it only called a Q3 award “a possibility.” But data center awards $FTEK hinted at have now failed to land in two straight quarters, so don’t be surprised if the data center option doesn’t come by Q4.

Investor Letters

All letters

Entravision Q3 Update

Entravision’s Q3 ad-tech revenue reached $177.2 million, up 133% year over year, while total revenue rose 88% to $226.3 million and diluted…

EVC $832M
The Value Road 4 clicks

GREAT DEC-TECTIVE WORK

Diversified Energy reported $255.6 million of “true” nine-month free cash flow, while its $1.8 billion Birch acquisition would shift…

DEC $900M
The Oak Bloke 3 clicks

Research Note

Nine Mile Metals is the subject of a research note.

VMSXF $14M
Atrium Research - Equity Research 5 clicks

Site Centers (NYSE:SITC)

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

SITC $192M
Real Assets, Real Value 5 clicks
SFIX · long

Stitch Fix INC

Stitch Fix’s 2017 IPO rested on overly ambitious long-term growth expectations and an unrealistic definition of its addressable market.

SFIX $348M
Value Investors Club 1 click

(MGGA) Make Guns Great Again

Ruger trades at a $468 million enterprise value, about 7 times normalized free cash flow, with $101 million cash and no debt as gun demand…

RGR $721M
XIX Value

Ranch-to-Market

Queen City Investments trades near $1,800 per share, with trust, real estate and investment assets supporting a $3,000 valuation as…

QUCT $98M
Obscure Stocks

Boston Omaha Corporation ($BOC)

Boston Omaha trades at $13.31 versus a $23-$30 intrinsic-value estimate, with billboard, broadband, hangar and surety businesses valued at…

BOC $421M
Calvin Blissett

American Biltrite - OTC:ABLT

American Biltrite carries $41 million of asbestos and environmental liabilities and $28 million of debt, leaving property sales, cost cuts…

ABLT $0M
Obscure Stocks

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