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
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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.
Asif Suria on X
@jbmp51 Looks like California provided conditional approval (the conditions don't look too onerous to me). Not it is up to $WU to make it happen if they still want $IMXI
Investor Letters
All letters- Minotaur Capital October 2026 CROX $7BHUT $6.6B
- Lakehouse Capital Small Companies Fund October 2026 COGZF $399MFNCHF $506M
- Lakehouse Capital Global Growth Fund October 2026 SNSNF $1.8B
- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.6B
- Forager Funds Management October 2026 TUA $525M
- FCL Capital October 2026 INTR $1.8BRSGN $881M
- Protean Funds October 2026 AAK $4.8BVIMGF $2.3B
- Marram Investment Management 2026 3rd Quarter PAY $4.2B
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Ichor Holdings: At 17x P/E, It's The Cheapest It Will Ever Be
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Tidewater (TDW): The $225,000 Boat They Laughed At Built the Biggest Fleet on Water
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Sectors
Ordered by how often our editor reaches for them.
