ShortSide Research
Short-Selling Research & Analysis Tools
CaliberCos looks like a classic small-cap pump to fade after a 70% jump on Chainlink tokenization hype. The $9M company combines a pickleball facility with crypto hype; short interest is low at 5.8%, but an active at-the-market program means dilution risk. The setup is to wait for exhaustion. x.comÂ
POET Technologies will likely dilute shareholders soon because it desperately needs to raise cash. That comes after an 80% three-day rally sparked by its CTO confirming an order from Celestial AI. x.comÂ
Bakkt has destroyed shareholder value through dilution, falling from $40 to under $8. A reply the author answers adds that despite NYSE backing and $3.5 billion in revenue, management diluted retail with ATMs and burned $40 million a quarter. The same accounts that once promoted Bakkt now defend IREN's $6 billion dilution. x.comÂ
Robinhood is well positioned to benefit from tokenization, which Robinhood CEO Vlad Tenev says is entering a supercycle that will eat the entire financial system. Traditional finance firms will be more involved than many expect, and distribution and liquidity are paramount. Under-covered public crypto infrastructure companies valued below $5B, Bakkt, BitGo and Bullish, are also building in this space, and the pie will be big enough for everyone involved. x.comÂ
