Friday’s near intraday multibagger move in Energy Focus, Inc. (NASDAQ:EFOI) (lighting solutions), from its open price, continues to convince me that the data center trend is the new industrial revolution or gold rush.

EFOI is a struggling commercial lighting solutions company that got hit hard after COVID. It was once a legitimate company that we had actually followed at GeoInvesting in the past. We had essentially stopped actively covering it because a recovery to its earlier days looked pretty unlikely.

The company hadn’t issued a press release since 2022, and then suddenly, last Friday at 9:00 a.m., it dropped a release tied to hyperscaler data center contracts.

We had a research screen update with the addition of a new stock to our Data Center and Infrastructure screen following its first data center contract win. The company provides infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. A P/E of 25x on its 2026 EPS guidance translates into a stock price of $41, compared to the current price of $45.63. At first glance, it doesn’t appear cheap, but analyst estimates may not fully reflect the opportunity. It’s 💯 worth tracking, as winning more data center contracts could make the stock look very cheap quickly and lead to an aggressive expansion in its valuation multiples. It’s moving to the top of our interview priority list.

We have a special feature this week: an impromptu Investor Roundtable Skull Session with three investors to discuss what’s been going on with an incredibly interesting special situation stock… actually one of the first stocks I ever bought over three decades ago. The most near-term probable set-up the we all agreed upon was that you make nothing to a best cast outcome of 100%. The worst case scenario of near zero seems unlikely.

This week’s special highlight includes a new contributor pitch on a digital health technology company, submitted by a GeoInvesting contributor, highlighting the opportunity following a recent pullback tied to guidance and reframing the setup as expectations reset. The average return of three of the other stocks he’s contributed to Geoinvesting currently stands at 408%.

In addition, we’re including new information arbitrage we found over the weekend on an electronics manufacturing services provider: regarding very positive backlog information found in its earnings call that was not in the press release.

This week’s main focus was on Tecogen Inc. (NYSE:TGEN) following its Q4 and full-year 2025 results. We provided an extended take after reviewing the earnings call, where the key points relate to the company’s progress toward securing initial data center contracts, the role of its Vertiv Holdings, Llc (NYSE:VRT) relationship, and the continued customer friction around being an early adopter. More on this later, including our first attempt at a financial model based on hidden clues provided by the company that we don’t think most investors have caught on to.

Well, last week, we added our 5th new stock to our coverage universe in 2026 by publishing research on this company and adding it to our model portfolio platform. More on this later in this post, but we believe the stock will rise over 200% over the next couple years, helped by a strengthening relationship with one of its largest customers.

We also added two new additions to our Data Center Screen

This week’s insight also includes extra commentary on $TSSI Q4 and special $OCC information arbitrage that only “means something” if you’ve followed the story for a while, like we have.

We had some meaningful information arbitrage (InfoArb) developments this week. Ligerclub (@realLigerCub) of Byron Street Research Substack did some excellent sleuthing that helped confirm that Rouchon Industries, Inc. (OOTC:RCHN) has transitioned its chip cooling technology to target the data center market, and that it belongs on our data center screen. The stock is now up 144% since being added to the screen on January 8, 2026.

We also identified InfoArb developments surrounding Acorn Energy, Inc. (NASDAQ:ACFN) and discussed Ieh Corp. (OTC:IEHC)’s record backlog announcement. Meanwhile, last Thursday’s March 2026 Open Forum introduced our new High Conviction Research policy, along with model portfolio updates, screen additions, and a new Focus Model Portfolio entry.

By the way, this week I will be sharing insights from my guest appearance with Pixel Research the Pixel Research Substack (@Pixelresearch), where I discussed how I hunt for alpha in the microcap jungle.

This week, we continued sharing key earnings reports across the microcap universe through GeoInvesting’s Premium X (Twitter) account.

Keeping the Investor Skull Session momentum going, the week, we hosted another Skull Session interview, this time with Andrew Pogue of Underlying Value Substack (@underlyingvalue on X). I met Andrew at the Planet Microcap Conference in Toronto last year and knew I wanted to have him on as a guest. The focus was on deep value investing with a catalyst: hunting globally for small-cap mispricings, understanding the operational reality inside messy businesses, and demanding a clear path from cash generation to shareholder returns. 

We also dug into capital allocation discipline, international opportunity sets like South Africa, how to use and not use AI in stock research, and managing  portfolios as conviction builds.