My Pitch Deck Slide Show from the MS Microcaps Summer Virtual Conference
Butler National Corporation is the subject of a stock pitch presented at the MS Microcaps Summer Virtual Conference.
Sector
Aerospace & Defense
Everything our editor has picked under this sector, best first.
52 stories
Mike on X
@BlackScholesMan 37% hours earned increase on Columbia program is bullish for $ESP
Hidden in Plane Sight
An aerospace company’s profitable core is obscured by a long-running FAA development program; approval, abandonment, or shrinking losses…
Tesla and SpaceX's Likely Merger, Portfolio Change
Tesla and SpaceX are increasingly integrated through Terafab, Optimus, Grok and Starlink, strengthening the case for a merger to pool…
BDC on X
Jorey is sizing up ahead of what mgmt has called a "hockey stick" 2H on the back of production orders scaling on at least two key PORs. $MOB https://t.co/5qF3GZFcFZ
Timyan Bank Alert on X
Big banks get second-quarter rocket fuel from SpaceX IPO $JPM $GS $BAC https://t.co/9HCoab65LR
Raging Capital Ventures on X
Excited to see Elroy Air going public via SPAC with $CMII / $IPXG… Elroy has developed a hybrid-electric, autonomous VTOL aircraft called Chaparral that has both military and defense applications. We have invested in multiple rounds at Elroy, starting with their seed in 2018. Here’s the deck on Elroy: https://t.co/iRRILU5JFk https://t.co/dUaH1EKf4K
On the Horizon
A tiny defense supplier trades at roughly 6.5x estimated normalized EBIT as military-program volumes rise and a strategic review considers…
PAA Research on X
While I'm quick to criticize @elonmusk and how he manages the Street (another area where he's clearly brilliant), but this interview is one of the many reasons why he deserves our universal respect for all that he's accomplished and what he could do for humanity going forward. THIS INTERVIEW IS ALMOST 20-YEARS OLD! $SPCX $TSLA https://t.co/uNjq2u089f
PAA Research on X
This is the "funding secured" moment for $SPCX. Will it matter for @elonmusk or the company? Probably not. We've been down this path before and the SEC blinked when there was a moment to enforce the rules we have in place with $TSLA. No question that no other executive gets away with this aside from Elon. This is a clear violation of the "quiet period" surrounding IPOs. To me the more interesting question is: why does Elon feel the need to provide 2030 guidance for his company a couple of days after the first trading day for $SPCX?
Mike on X
Now that we've all survived SpaceX day, I think some space names will (hopefully) trade more based on biz momentum. One example: $KVHI's inclusion into the NASA ETF has largely dictated how it's been trading (contributed to the strong runup and recent decline). NASA flows have totally dominated price action. However none of that matters for how the business is actually doing (see below).
PAA Research on X
Is the price action in every other space related company today a cautionary tale for $SPCX as to what could happen with $MAGS and other tech leaders when #anthropic and #OpenAI go public later this year or does it simply reflect an uninspired pricing on $SPCX and a stock that might not be up in the absence of $GS support? $RKLB $LUNR $ASTS $PL $RDW
PAA Research on X
This infographic looks hugely bearish to me and clearly I'm not the only one seeing it that way. That bar chart in the middle looks like a disaster as does allocating 30% of this deal to retail. Being multiple times oversubscribed is not what people want to hear at this point. How many guys put in orders expecting to get one-tenth or 1-20th of their ask? If those funds get filled at higher levels, you can expect $MS to really extend its balance sheet tomorrow to prevent this from breaking issue. Maybe the book really fills in over the next 30 hours, but usually if a deal's hot you would see stronger orders at this point. The $MS equity capital markets team has a long few days ahead. $SPCX
Too Many Cooks Spoil The Pot
Baron’s BARAX and BGAFX hold SpaceX at a $1.25 trillion valuation, creating a potential NAV uplift if its IPO prices higher.
VSEC · long Vse CORP
VSE Corp trades at $185, with a stated $246 fair value and 2027 estimated EV/EBITDA of 15x.
M-tron
M-Tron Industries is pitched as a long on its sole-source role across more than 40 missile, radar and aerospace programs.
Smart Shooter
Smart Shooter develops electro-optical, image-based fire-control systems that improve weapon accuracy and lethality in harsh environments.
Vislink Technologies INC
Vislink Technologies trades near cash after turning EBITDA-positive through a defense communications pivot under DoD Trusted Investor…
Amprius Technologies, Inc.
Amprius Technologies derives 94% of revenue from licensing despite its silicon-anode battery supplier narrative for defense and aerospace…
Charles Frischer on X
@lindenstcapital $NN Shares were lower today on 1.7 million in volume. Investors were concerned that OIRA hasn't approved the NPRM as of today. Also, airline groups filed objection based upon interference. I still think we have a reasonable chance for tomorrow and if not, then April 28th.
catechwilliams on X
@TaylorStCap $MRLN Investor presentations, company filings and public statements clearly represent that they are trying to develop pilotless technology (see intro slide of their IR deck below). Regardless I believe drone technology and auto-pilot assist systems have existed for many years. https://t.co/aCvg9KFLhP
catechwilliams on X
$MRLN. Recent SPAC. Development-stage science project attempting to make autonomous airplanes. Even if they ever get FAA approval, it will take a brave sole to get in a plane with no pilot and/or send high value cargo. Many existing autopilot competitors. Burning $70M/ year.
Nippon Carbon (TYO 5302): A 120 Year Old $350 Million Japanese Carbon Manufacturer Trading at 1x Book, Net Cash, and 4.2% Dividend with a Growing Aerospace Materials Division (JV with GE / Safran)
Nippon Carbon trades at 1x book with net cash and a 4.2% dividend while expanding aerospace materials through GE/Safran joint ventures.
Porter Collins on X
@JeffreyCherkin Not a bad purchase of $FTAI this time last year < $90! @MelissaLeeCNBC
