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 it 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.
Right off the bat, I want to say thanks for all who attended live. At our peak, we had 76 attendees. Given that we only “marketed” the event for about a week, I thought this was a great turnout and are confident that the next one will yield an even better presence as people begin to see the value and information arbitrage that results from the presentations from handpicked companies and Q&A exchanges.
You’ll hear me mention “high probability turnarounds” often. And by the way, when I refer to turnarounds, I am talking about companies on the verge of dying, not those that are tweaking the business to create new growth or re-ignite growth… Because let’s face it, microcaps are always facing challenges.
It’s a good time to revisit this topic for two reasons. First, as I mentioned in last week’s Sunday update, we reintroduced our turnaround screen. Second, the MS microcap starting Five Defense Conference will have a few companies presenting their turnaround stories, like $VELO (3D printing) and $AUUAF (AUUA.V) (composite materials).Â
This week’s update centers around the theme of turnarounds, including our refreshed Restructure/Turnaround Screen spotlighting three companies. We also published a Geoinvesting subscriber’s bullish write-up on Mistras Group Inc (NYSE:MG) and its shift toward data-centric asset monitoring. Finally, we recapped momentum from Asp Isotopes Inc. (NASDAQ:ASPI) following new supply agreements, and growing traction in Cca Industries, Inc. (OOTC:CAWW) turnaround story. Some of the most compelling opportunities start out overlooked, even dismissed. These “ugly ducklings” are exactly the kinds of companies where quality often forms beneath the surface before it shows up in the numbers.
We started the forum with something that’s been on my mind a lot lately: being thankful for all the great ideas from the Geoinvesting community. Lately, we’ve seen a string of big wins from our contributors: