Cat-Scratch Fervo
Fervo Energy raised $2 billion in its May IPO, then fell nearly 70% below issue price after a Morpheus short report, despite targeting 1 GW of geothermal power by 2030.
Wednesday, November 11, 2026
Back to the front page 
From X
Serenity on X
@TimeToCompute Coreweave did say they’re getting 100% contract value prepayments, which is kind of insane. So that sends a positive message for the other Neoclouds like $NBIS and $IREN
Asif Suria on X
Whoa! Western Union $WU decided to terminate the $IMXI deal despite the conditional approval that came in from California after hours on Tuesday
Asif Suria on X
@compound248 @jbmp51 Looks like $WU decided to terminate the deal. Crazy stuff.
Prepared Remarks on X
Was there any reason for the $bkd rip into the close? +5% in 30 minutes on decent volume and from -5% intraday
Myles on X
@valuedrift @irbezek $KORU has way higher financing costs. The $SOXL and $SOXS are only like .5% above risk free. Koru significantly underperforms it's underlying. It's actually the better short even with the higher borrow. (I'm short to hedge some SK positions).
DOMO Capital Management, LLC on X
@gr8t4ver @ArbLens Probably closed tonight or signed a short 5 day extension. California would not have approved unless $WU signed-off on whatever the conditions were. No chance they walk or renegotiate. $IMXI might not even trade tomorrow.
Investor Letters
All letters- Minotaur Capital October 2026 CROX $7BHUT $6.6B
- Bell Asset Management October 2026 CRH $65BEXPGF $34B
- Lakehouse Capital Small Companies Fund October 2026 COGZF $399MFNCHF $506M
- Lakehouse Capital Global Growth Fund October 2026 ADYEY $32BSNSNF $1.8B
- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.6BSN $31B
- Forager Funds Management October 2026 OFX $70MPLT $95M
- FCL Capital October 2026 ANPDF $28BCNSWF $50B
- Protean Funds October 2026 AAK $4.8BLFABF $13B
Seritage Growth Properties: Final Stages of Liquidation
CoreWeave (NASDAQ: CRWV) Stock Rating: Do Nothing After Q3 FY12/26 Earnings
CoreWeave reported 168% revenue growth to $3.66 billion, but $20.4 billion of trailing free cash outflow and $42.7 billion in net debt keep…
Irreplaceable Assets, Explosive Growth, On Sale: LandBridge Q3 2026 Update
LandBridge’s Q3 revenue rose 39%, while newly acquired pore space could lift pro forma EBITDA and cut its 2027 EV/EBITDA multiple from…
Constellation Software 3Q26 Recap: When 2% is Good
Constellation Software’s 3Q26 organic revenue grew 2%, while $609 million of acquisitions and improving acquired-business margins supported…
Joby Aviation (NYSE: JOBY) Stock Rating: Accumulate After Q3 FY12/26 Earnings
Joby Aviation reported $55.1 million in Q3 revenue, raised 2026 guidance to $135 million to $140 million, and expects FAA pilot training in…
MARA Holdings Q3: Massive Deleveraging Sets The Stage For The AI Colocation Premium
MARA Holdings cut debt by $1.4 billion after an $885 million Bitcoin gain, while 1.9 GW of energy assets and a $79 million GPU contract…
Mandela Amoussou 1 click
Research update
S&P Global research will assess Platts, Kensho and ratings growth; Benefit Systems’ 72% YTD rally changed its valuation, while Netflix and…
Q3 Earnings: XPEL, Liberty Capital, Douglas Dynamics, Strattec, Seaport (XPEL, GLIBA, PLOW, STRT, SEG)
Liberty Capital’s GCI business grew 5% in high-margin healthcare and school contracts, while Quintillion could lift EBITDA to $440 million…
Occidental Petroleum (NYSE: OXY) Stock Rating: Distribute After Q3 Earnings
Occidental Petroleum generated $4.3 billion of Q3 EBITDA and cut principal debt to $10 billion, but each $1 WTI decline reduces annual…
The AutoNation Story
AutoNation shed rentals and megastores, focused on dealerships, and retired 91.1% of its shares through buybacks after its 1990s roll-up…
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.
October 2026 Random Ramblings
October 2026 market commentary covers SOLS’s cancelled merger, a hypothetical Starbucks-Chipotle deal, Russell 2000 weakness and AI…
Everyone wants to defend CoreWeave but who really knows
CoreWeave faces fresh skepticism as another AI trade selloff collides with bullish defenses of the company.
A Conversation With Ari Emanuel About Entertainment and AI
Ari Emanuel discusses AI’s impact on Hollywood, live events, social networks and the future of advertising.
Private Equity Prints Multibaggers With This Pattern. No One is Talking About It.
Shenandoah Telecommunications’ Glo Fiber buildout ends this year, and private infrastructure investors’ repeated fiber deals frame a…
El Pollo Loco: New York State Of Mind
El Pollo Loco plans 18 to 20 FY26 openings, including 15 franchised New York stores over five years, as asset-light expansion and…
Pedro Goulart 1 click
Coherent | Management Call
Morgan Stanley Direct Lending: Discount Is Attractive, But Credit Has Not Stabilized; Hold
Morgan Stanley Direct Lending trades at a 32% NAV discount as non-accruals reach 2.9%, NII and NAV decline, and dividend coverage falls to…
Rubicon Associates 1 click
Research Roundup Vol. LVI
Howmet Aerospace is framed as a beneficiary of turbine and aircraft-engine demand, while J.B.
Lennar: The Misstep Is Temporary, the Operating Machine Is Not
Lennar cut build times to 116 days and adopted an asset-light land model, while gross margin fell to 15.8% from 27.5% as land costs rose.
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Deep Sail Capital
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DOMO Capital Management, LLC
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Fierce_beast
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JabroniCoin.USD
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Kuppy
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marginofdanger
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Investor letters we follow
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- Westfield Capital Management
- Westwood — Quality SmallCap Fund
- White Brook Capital
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Sectors
Ordered by how often our editor reaches for them.
