This week included two research-driven updates tied to defense exposure and emerging industry trends we’re watching in the drone space. Velo3d, Inc. (NASDAQ:VELO) announced a sizable government contract but also disclosed a private placement, while Optex Systems Holdings, Inc. (NASDAQ:OPXS) gave us early indications of exposure to drone-related defense trends. 

Also, the MS Microcaps Press Release research tool received a big update. You can now create watchlists for stocks you own or are tracking, as well as set up filters to bring in new ideas. I can tell you that I’ve started using these features, and they are helping me tremendously to catch and respond to new information more quickly, compared to manually searching through press releases. To close out the week, we’ll highlight an article focused on how sprinkling small starter position bets can become some of your biggest winners, over time.

If you’re a microcap investor, you understand the edge and first-mover advantage you can get from exploiting negative stereotypes. One of my favorite Geoinvesting model portfolios is the Run to One Model Portfolio (R21). The common narrative is that penny stocks are too risky and complete trash. However, Xpel, Inc. (NASDAQ:XPEL) used to trade around $0.20 in 2012 and reached $100 by 2021. Koru Medical Systems, Inc. (NASDAQ:KRMD) began its multi-bagger journey as a penny stock, climbing from $0.40 in 2016 to $12 in 2020. Both of these stocks were added to our R21 portfolio in January 2013 and October 2016, respectively. Both companies also generate substantial revenue.

That’s why I was excited that we hosted a skull session event on Thursday with Luminar Media Group, Inc. (OOTC:LRGR). The company trades around $0.40 and has put together six consecutive quarters of revenue growth and profitability. LRGR operates in revenue-based financing and reported Q3 sales of $2.2 million.

Sure, penny stocks can be a little risky, but the potential upside can be significant if you can find a few before some of the issues that put the company in pennyland are about to abate or improve.

A lot went down this week, mostly good stuff, but of course we had that unexpected disappointment that sneaks up on you, an unavoidable part of being a microcap investor. My personal highlight of the week was a timely Skull Session Chat with Qualstar Corp. (OOTC:QBAK) just one day before the company dropped news of a 3:1 stock split and corporate move to Nevada. These are signs that the story may be accelerating and gearing up for an up-list to the NASDAQ. GeoInvesting Model Portfolio and Research Screen standouts included PPIH, ASYS, FEIM, and VELO.

This week’s activity reinforced where conviction is building across the microcap landscape. Live forum discussions centered on upcoming management conversations, follow-up diligence, and early-stage vetting, alongside continued refinement of our screening framework and model portfolio. Several companies stood out for improving fundamentals, post-restructuring momentum, or signs of an earnings inflection, while others sparked debate as potential future additions. Outside the forum, fresh results from an equipment supplier pointed to sustained AI-driven demand and balance sheet strength, while a niche infrastructure provider highlighted growing project wins tied to data centers and international energy customers. Overall, the week reflected steady progress toward higher-quality setups rather than headline-driven speculation.

This week, Sebastian Krog (@SebKrog) and I dug into the Q3 2025 earnings season, covering a wide range of microcap ideas in Canada and the United States microcap names. Personally, I stepped away from talking about technology stocks and focused on cheap, boring, deep value choices with P/E ratios under 10x. My bet is that growth will accelerate for these companies, leading to an upward revision in their valuation in multiples. You can catch this review on Seb’s Substack, Treasure Hunting.

The big news this week was Friday’s morning email, where we reported on a very positive NEW InfoArb development regarding the Tecogen Inc. (NYSE:TGEN) partnership with Vertiv Holdings, Llc (NYSE:VRT). Just like when the original signing of this partnership agreement was initially ignored in March, when TGEN was around $2.50 due to tariff war noise, this positive partnership update seems to be getting little love, as AI and data center stocks have gone out of favor… for a minute.

Well, we did it. We launched Buy on Pullback Portfolio #14 (BOP) with two names on Monday, November 10: Acorn Energy, Inc. (NASDAQ:ACFN) and Leatt Corp. (OTCQB:LEAT). Two more names, Burnham Holdings, Inc. (OOTC:BURCA) and Koil Energy Solutions, Inc. (OTCQB:KLNG), were added during our November Open Forum on Tuesday, with additional candidates now under review.

The Open Forum covered a wide range of updates, including new management briefing events, model portfolio performance stats, and early work toward what may become a dedicated Defense Sector Screen. I will provide a recap on this weekly, but the full replay is already up on the portal.

By the way, you can access all the slides of our open forms at this link, if you’re logged in. Also, you can see all of our archived morning emails here.

Last week, the microcap earnings season officially began, with most companies we follow posting impressive results. However, many of these reports got “lost” in a week where the stock market pulled back, amid fears of an AI bubble.

Highlights in this weekly:

Q3 reports from Crawford United Corporation (OOTC:CRAWA), Bk Technologies Corporation (NYSE:BKTI), First Acceptance Corp. (OTC:FACO), Equator Beverage Company (OOTC:MOJO), Acorn Energy, Inc. (NASDAQ:ACFN), Fuel Tech, Inc. (NASDAQ:FTEK), Power Solutions International, (NASDAQ:PSIX), Cipher Pharmaceuticals, Inc. (OTC:CPHRF) (TSX:CPH)
An awesome MUST WATCH investor insight skull session with Quant investor Yuval Taylor (@yuvaltaylor).
Latest “You Make the Call” Fireside Chat, Wesley J. Bolsen, CEO of General Enterprise Ventures Inc (OOTC:GEVI).
Our in-depth take on ACFN 39% Pullback during the week.
Our quick take on PSIX 23% Pullback during the week.

As we are now on the hunt to launch Buy On Pullback #14 (BOP) this week, we will be assessing if any of these pullbacks are good candidates for inclusion in the portfolio.