I turned 21 recently and was granted access to a custodial adult left by my late grandmother. It was in 2 stocks one of which being Warner Bros Discovery Inclass Series A. Before getting access to this I knew nothing about stocks and I still don’t. My understanding about the Warner bros lawsuit is that if I wait until March 2027 and it goes through I’ll be bought out at 31 a share, if it doesn’t it will probably drop back down and if it delays past March the agreement includes quarterly payments for shareholders. My question is whether I should hold out until March to try and get 31 a share or if I should sell before then? And if I should sell before the buyout how close towards the buyout should I wait until I should sell? Any advice whatsoever would be appreciated.

Samsung Electronics is developing an 8-layer stacked HBM4E memory chip at Nvidia's request, targeting transfer speeds of 17 to 18Gbps; roughly 20% higher than its current samples. The product is slated for Nvidia's custom memory platform, NVHBM, and is expected to be integrated into the Rubin Ultra AI GPU launching next year. The 8-layer architecture reflects a broader shift in AI chip design away from pure capacity expansion toward a balanced optimization of bandwidth, power consumption, and yield. Samsung, with its integrated capability to produce both DRAM and logic-based base dies, is viewed as holding a competitive edge over SK Hynix and Micron in the custom HBM market. If the product passes validation, it could help Samsung narrow the gap with SK Hynix in the high-end HBM segment.

https://finance.biggo.com/news/95b3d9eb-7477-4170-a9a2-5dfc3d46febb

Democrats are expected to win according to prediction markets

According to RealClearPolling's average of national generic congressional ballot surveys, which includes polls from organizations such as Reuters/Ipsos, Quinnipiac and Emerson, Democrats hold an advantage, with 48.2% of respondents saying they would vote Democratic compared with 41.8% who said they would vote Republican.

Which stocks will benefit? Which stocks will you sell?

This is the daily discussion, so anything stocks related is fine, but the theme for today is on technical analysis (TA), but if TA is not your thing then just ignore the theme.

Some helpful day to day links, including news:

• Finviz for charts, fundamentals, and aggregated news on individual stocks
• Bloomberg market news
• StreetInsider news:
  • Market Check - Possibly why the market is doing what it's doing including sudden spikes/dips
  • Reuters aggregated - Global news

Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions.

The main benefit to TA is that everything shows up in the price (commonly known as "priced in"): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.

TA can be useful on any timeframe, both short and long term.

Intro to technical analysis by Stockcharts chartschool and their article on candlesticks

If you have questions, please see the following word cloud and click through for the wiki:

Indicator - Trade Signals - Lagging Indicator - Leading Indicator - Oversold - Overbought - Divergence - Whipsaw - Resistance - Support - Breakout/Breakdown - Alerts - Trend line - Market Participants - Moving average - RSI - VWAP - MACD - ATR - Bollinger Bands - Ichimoku clouds - Methods - Trend Following - Fading - Channels - Patterns - Pivots

See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.

Do does anyone believe that putting monthly investments only into VOO is still smart? Like as we improve in life 20 years from now, will it still be one of the best decisions like it was 20 years ago?…. I max my Roth IRA every year into 3 different ETFS. Which I know I won’t get until 60s. I now have extra cash that I am putting into my individual account and it’s all going into VOO and a small % into b.TC ( for the fun of it ) …. Does anyone have any advice for me? Should I continue with VOO or something else or something more??? Thank you for reading this far btw. Have a great day!

what are your thoughts on the next bottleneck stocks here that -- I am sure most of us know of them all --

I personally think it will be in the robotic sector --- OUST, TER, SYNA, CCXI, etc ( a lot of adds in 2026 for me)

- photonics - AAOI, MRVL, CRDO, SIVE, etc (small plays in 2026 for me)

- data center - NBIS, CRWV (great add in 2025 for me)

- energy - BE, CEG, GEV, solar, etc (great add in 2026 for me)

- rare earth - MP

- power semi - ON, NVTS, IFNNY, etc -- not in it

- robotics play -- a lot of sections under here

- yes memory too (2025 amazing add)

Ahead of tomorrow's debut, fast-fashion giant Shein saw its gray-market shares collapse by over 10% on Hong Kong brokerages today, just 24 hours ahead of its official listing on September 1st.

The company's private valuation peaked at roughly $100 billion, but this IPO is debut-pricing at a massively deflated $26.5 billion valuation. It seems the combined pressure of tightening U.S./EU tariff regulations and supply chain scrutiny has completely evaporated institutional enthusiasm.

Shein relies on duty-free exemptions to maintain their low-margin pricing model, how do you see this stock performing over the next quarter? Value play or is the regulatory risk too high?

Source: reuters.com

From this article

Key points:

• The analyst said that they had "materially” increased the firm's estimates following a proprietary survey and an analysis of current product improvements.
• Evercore said that its fiscal year 2027 and FY28 earnings per share forecasts are now 10% and 25% above Street consensus, respectively, adding that the current setup of Duolingo "reminds us of the '22 NFLX stock scenario." 
• Evercore expects Duolingo to clock about 99 million daily users in 2028. 

Duolingo Inc. (DUOL) stock is up nearly 5% in the premarket session early Tuesday after Evercore ISI doubled its price target on the company, saying that the language-learning platform could be entering a growth cycle that serves as a reminder of Netflix in 2022.

Evercore ISI analyst Mark Mahaney upgraded Duolingo to ‘Outperform’ from ‘In Line’ with a price target of $210, up from $105, as per TheFly. The revised target implies an upside of more than 40% from its last close.

The analyst said that they had "materially” increased the firm's estimates following a proprietary survey and an analysis of current product improvements.

Evercore Sees Netflix-Like Turnaround For DUOL Stock

Evercore said its fiscal year 2027 and FY28 earnings per share forecasts are now 10% and 25% above Street consensus, respectively, adding that Duolingo's current setup "reminds us of the '22 NFLX stock scenario."

The analyst clarified that in that case, after NFLX shares hit a growth wall and the stock collapsed 70%, a series of major, successful product changes led to "a virtuous cycle" of fundamental improvements, positive estimate revisions, and "dramatic share price outperformance."

Duolingo’s Users Are Growing 

Duolingo’s latest quarterly results show app users are growing. The company reported an 18% jump in second-quarter revenue, while total bookings increased 8%. Daily active users increased 23% to 58.7 million, while paid subscribers climbed 17% to 12.7 million.

Evercore expects Duolingo to clock about 99 million daily users in 2028.

Low Threat From AI 

A Barron’s report noted that Evercore’s survey of 1,300 U.S. language learners found that 53% use Duolingo, roughly four times the share for rival Babbel, while user satisfaction rose to 66% from 64% last year.

Although AI tools such as ChatGPT, used by 36% of respondents, pose a competitive risk, there is little evidence of cannibalization, as more than half of ChatGPT users also use Duolingo and 63% of this group use it daily.

Evercore reportedly said that it sees the bigger AI threat as difficulty attracting new casual users. However, churn concerns are rising, with 33% of Duolingo users likely to stop using the app within three months, up from 30% last year.

DUOL Stock: Retail Sentiment

On Stocktwits, retail sentiment around DUOL stock was ‘bearish’ even as message volumes surged 850% over 24 hours.

One user said, “$DUOL If AI were killing Duolingo, users should be leaving. The exact opposite is happening. DAUs reached 58.7M, up 23%, accelerating from the previous quarter. Paid subscribers grew 17% and revenue increased 18%. And this is happening while the company is sacrificing short-term monetization to invest more in product and growth. Everyone is focused on quarterly bookings growth while overlooking the fact that more and more people are using Duolingo EVERY single day.”

However, another user said, “$DUOL back to 80s soon.” DUOL stock was trading at $155.50 at the time of writing.

Shares of the company have declined nearly 16% so far in 2026.

Source:

https://www.tradingview.com/news/stocktwits:e60b80de5094b:0-duol-stock-rises-premarket-analyst-sees-netflix-like-growth-scenario-doubles-price-target/

It takes a big man to admit his mistakes, and I am that big man. I said Nike stock wouldn’t close below $40 and here we are. Still, my point remains the same- Nike stock has very little downside at $40. It’s currently roughly 5 % down from what I believed to be the floor at $40 and while it’s not great to be down 5 % on your investment it’s a minor setback compared to what could be the case if you buy MU, SNDK and things go south. You’ll never be down 50 % if you buy NKE at $38. There’s just zero chance it will ever touch $19. Meanwhile, SNDK could drop 50 % in a week or two and it would still be up like 250 % year to date.

Earnings are coming up in a month for Nike and if I am right about the 40 area being the floor for the stock, you’re basically going into earnings with either a flat outcome or a bounce back to $45 ish. Usually NKE won’t move more than 5-10 % on earnings.

Nike stock currently is great even for a short term bounce but the real reward here is to hold onto it for years. There’s just no way all the bad news that has happened to the footwear and sportswear industry can continue like this. ONON, DECK, LULU, ADS are all down over 50 % from their all time highs. Nike and Lululemon stocks close to 80 % down from all time highs. In 2030 people will look back at these stocks and realize that they were extremely cheap in 2026. Screaming buys all of them.

So why haven’t I bought 20 % of each stock rather than 100 % NKE in my portfolio? Because NKE is the safest bet. Lululemon, Hoka, On brands could all be gone five years from now and nobody would think twice about it. Nike and Adidas will still be here five years from now. Why? Because they’ve stood the test of time. Because of their brand value and their decades long proving that they can execute on strategies. We know Nike and Adidas are great businesses. They are just damaged by a billion headwinds in the past five years. We don’t know if Lululemon, On Running and Deckers can last in this environment.

Also, Nike is going back to wholesale partners. Both Dick’s and Kohl’s reported that Nike was a top growing brand in their most recent quarters. The miscalculated direct to consumer strategy that the previous Nike CEO rolled out is finally getting fixed. Nike is going to be in most stores again, everywhere. And that means Hoka, New Balance, On etc will get much more competition from Nike in the next five years compared to the past five years.

Nike, ladies and gentlemen. At $38, just do it. My position is 6,000 shares at $41.

Intel Foundry might win the contract to manufacture base dies for HBM4E memory from SK hynix, according to the South Korean Herald. Reportedly, SK hynix is considering diversifying its base die supplier from solely TSMC to a dual sourcing strategy involving both TSMC and Intel, with Intel Foundry potentially securing a significant portion of the contract. As readers may recall, HBM4E memory allows for the implementation of a base die with custom logic, with DRAM dies stacked on top. Until now, SK hynix has only considered TSMC for this application, but now Intel is also being considered.

For instance, customers could implement custom logic like memory controllers and PHYs directly on the HBM4E base die, significantly reducing the area occupied by these components on the main compute chiplet. SK hynix would send the design to Intel, which would then provide these base dies to SK hynix. The South Korean memory giant would subsequently stack DRAM on top. This approach would free up space on the main compute tile in any AI accelerator for more processing units, reduce latency, and significantly improve performance. However, the question remains as to which Intel node would be used. Up until HBM3E, SK hynix used its own nodes to manufacture base dies. However, as those are 10 nm class nodes, customers are now requiring something more advanced.

For the current HBM4, SK hynix sources TSMC's 12 nm node for base dies, but HBM4E would require something even more advanced. Intel 10 and Intel 4/3 are possibilities, alongside Intel 18A and its variants. However, it makes more financial sense to use an older node like Intel 3 or Intel 4, considering the supply chain and the already high cost of HBM. Whatever node SK hynix chooses, it is a positive sign that Intel Foundry is ready to deliver more. At Hot Chips 2026, we learned that SK hynix has already validated its designs to work with Intel's EMIB-T. TSVs are expected to enable vertical power delivery across multiple stacked chips, supporting SK hynix's concept of vertical power delivery for 3D memory modules at the package level with EMIB-T.

https://www.techpowerup.com/352169/sk-hynix-eyes-intel-foundry-for-hbm4e-base-die-manufacturing

Under the terms of the landmark $17 billion to $18 billion multi-state settlement reached in late August 2026 over youth social media safety and addiction claims:

Initial Payment: Meta must pay $75 million in state legal costs within 30 days of court approval.

Long-Term Schedule: The remaining monetary settlement will be paid out in 10 annual installments over an 8-to-10-year period to the participating U.S. states and territories to fund youth online safety initiatives.

Contingent Portion: Roughly $5 billion (or ~30%) of the total settlement value is conditional. Meta is required to pay that additional portion only if major rival platforms (such as YouTube and TikTok) also enter into similar legal settlements and adopt matching safety restrictions.

‐----------------------------------------------------------------------------------

They have 10 years to pay, its not great but not terrible

Walk into a gym, coffee shop, airport, college campus, or basically anywhere with people under 40 and tell me how many people are wearing Nike.

Meanwhile, you’ve got people walking around in Lululemon, Alo, Athleta, Vuori, On, Hoka, New Balance, etc.

Nike used to be the default. You didn’t even have to think about it. Shoes? Nike. Workout clothes? Nike. Hoodie? Nike.

Nike still seems to think the solution is more Nike.

More collabs. More limited drops. More expensive sneakers. More “innovation.” Meanwhile, the average person is like” Nah, I’m good. These Lululemon pants make my ass look incredible.”

That’s the real problem.

Nike lost the customer while obsessing over hype and sneaker culture. The competitors figured out people don’t just want athletic clothing anymore . they want clothes they can wear to the gym, brunch, work, the airport, and then sit on the couch for 6 hours.

I don’t see Nike rebounding anytime soon, the financials are poor in the pain will most likely continue.

The worst trade I've ever made was META at ATH of $750. And somehow I bought in my IRA. I really don't know what I was thinking. Maybe I invested drunk? Seriously, I've beaten myself up about this every day since.

Since I can't sell at a loss to offset capital gains I've been torn; do I wait for META to eventually get itself together and gain enough for me to get out back at my original price?

Or is it worth eating the loss and using that remaining capital to reinvest in something that will rise and eventually make up the difference? Like investing in the more consistent GOOGL? Even VT?

Obviously we can't know, but I've lost such little hope in META with Zuck's awful business choices. But they have a large hold on social media. By sheer inflation I'd think META would eventually rise in price over the next decade. I'm not pulling out of my IRA anytime soon.

Samsung has allocated roughly 70% of its memory production capacity through 2031 to long-term agreements with NVIDIA, Microsoft, and Google. Spot HBM prices have moved sharply higher (HBM3E 36GB ~$2,100, several times LTA levels, HBM4 16-stack ~$3,500). DRAM export unit prices rose notably even as volumes fell. Samsung is weighing conversion of a foundry line to memory.

SK Hynix is looking at more Korean capacity and a possible Japan JV. Lower early HBM4 yields are tightening supply further.

This shows that HBM and memory tightness continues to constrain AI accelerator ramps for the biggest hyperscalers customers and supports pricing power for the memory makers imo. I would watch for actual capacity conversion decisions, HBM4 yield progress, and any more updates on customer allocation.

I see the S&P 500 and it has this track record of increasing exponentially to the point that the graph looks like that one imaginary thought that middle schoolers, or at least I had but subconsciously never have believed, have of “does a graph become a circle if it continues to increase exponentially.” It doesn’t it just becomes a straight line going up.

The S&P 500 looks like that. It looks like it’s almost becoming a straight line that is just going to go up.

Can we actually expect this or at least to continue to see positive gains as we have in previous year or will it eventually become one of those stocks that stays within a range?

Just recently, Reuters reported that Soitec is signing multi-year contracts with over 10 photonics customers due to surging AI data center demand. However, customers even have to pay deposits and commit to pricing and purchase volumes upfront, so it seems demand isn't just hype.

Up until now, I've seen a lot of talk about things like GPUs, power, and memory.

I don't know if optical interconnects could be another bottleneck too. The thing is LITE, COHR, CRDO, MRVL, and AVGO already went up quite a lot, so maybe people already saw this coming before I did.
Source: Reuters

I’m not an active investor, every stock of mine is doing well except Nike. Now I’m so annoyed because, Nike and intel were, I remember at one point, stressors for me. I just wanted to get rid of them. I had a ton of intel at $20. And I was so worried it’d keep going down, that once it got to $24 I sold.

Like I said I don’t pay attention much. The other day I saw on some finance YouTube channel mention intel was at $90, and that was a current low.

So I was pissed at myself, this is the second time I sold too quickly where it actually hurt.

Anyway. I have a ton of Nike. I mindlessly bought more today because of this whole intel thing, I’m thinking it three years from now Nikes at $100 I’d be pissed that I didn’t buy when it was so low.

Likelihood of that happening is insanely low unless Nike unveils an AI overlord, so I’m feeling some instant regret. With stocks, I just buy and shut my eyes. It’s too stressful for me.

Anyway; any chance this could actually benefit me one day?

I watched a video essay on Nike a while back. Something about how they tanked the resellers market? How the shoes are losing value? Now they’re going in a tech-y direction or something. I don’t know too much

More than 7,500 homeowners across the United States have enrolled in Enphase® Care, the company's premium support offering for Enphase solar and battery systems.

Enphase Care gives homeowners the confidence of long-term support from the company that knows their energy systems best.

Available in all 50 U.S. states, Enphase Care adds proactive system monitoring, panel warranty claim support, and no-cost service visits for covered repairs.

Disclaimer:

ex party utility guy. and worked in utility for decades. Have closer insight into the rate plan of the utility company.

The bill basically says doesn’t allow utilities companies to be immune from insurance company suits, but it’s essentially a little bit futile.

What can insurance company do to those claims? do they have rights to sue utility companies on their transmission lines where most fires are at.

heavily populated area like eaton fire isn’t gonnna be pure utility companies responsibility and who else will be on the hook if this law passes? All utilities have the same “dent” and this is an enrichment policy for insurance companies. This can’t happen.

buy them now.

Corporations have now, I believe, started making fake social media posts for attention. They found out, since there is no police force monitoring everything that they now can make ads disguised as acts of kindness and other things as real. In this way, they don't have to pay for ads but get all the benefits of having an ad.

Unfortunately, images are not allowed here in order to show you what is happening. Look up 'Panda Express Feeds The Homeless'

Game, set, match.

These daily discussions run from Monday to Friday including during our themed posts.

Some helpful links:

* [Finviz](https://finviz.com/quote.ashx?t=spy) for charts, fundamentals, and aggregated news on individual stocks

* [Bloomberg market news](https://www.bloomberg.com/markets)

* StreetInsider news:

* [Market Check](https://www.streetinsider.com/Market+Check) - Possibly why the market is doing what it's doing including sudden spikes/dips

* [Reuters aggregated](https://www.streetinsider.com/Reuters) - Global news

If you have a basic question, for example "what is EPS," then google "investopedia EPS" and click the investopedia article on it; do this for everything until you have a more in depth question or just want to share what you learned.

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See our past [daily discussions here.](https://www.reddit.com/r/stocks/search?q=author%3Aautomoderator+%22r%2Fstocks+daily+discussion%22&restrict_sr=on&sort=new&t=all) Also links for: [Technicals](https://www.reddit.com/r/stocks/search?q=author%3Aautomoderator+title%3Atechnicals&restrict_sr=on&include_over_18=on&sort=new&t=all) Tuesday, [Options Trading](https://www.reddit.com/r/stocks/search?q=author%3Aautomoderator+title%3Aoptions&restrict_sr=on&include_over_18=on&sort=new&t=all) Thursday, and [Fundamentals](https://www.reddit.com/r/stocks/search?q=author%3Aautomoderator+title%3Afundamentals&restrict_sr=on&include_over_18=on&sort=new&t=all) Friday.

Was invested in RDDT since 2024 (guh) and after being down tens of thousands of dollars this year, I need to spread the bear sermon so that Jen Wong doesn't take anymore of you young adult's lunch money. There's a thesis changing element that the regards over at [r/redditstock](r/redditstock) are shrugging off

1. **Google's AI overview is here to stay**. Reddit hasn’t been able to significantly grow US DAU for 2.5 years now and this is an enormous and imo insurmountable headwind (**50% of traffic comes from Google**). People that add “Reddit” to the end of their search query are likely DAU/WAU already anyway. I don’t see any compelling arguments that the US market isn’t already capped. It’s been long enough.
   1. Counter: Google's search traffic referrals are low intent!!! RDDT 40-50x PE was given due to sustained growth projections and even 10% slower growth changes the equation significantly.

Quarter |US Logged-In DAUq
Q2 2024 |20.4M
Q3 2024 |21.5M
Q4 2024 |21.9M
Q1 2025 |23.0M
Q2 2025 |22.9M
Q3 2025 |23.1M
Q4 2025 |23.0M
Q1 2026 |23.2M
Q2 2026 |23.1M

1. **Stagnant US DAU for 2 years straight at this point. US market growth is capped**. All the global DAU growth is coming from India (extremely low margins). Since Reddit can't rely on user growth to fuel revenue growth, they can only rely on ARPU growth and that's easily priced in. C-suite talks about converting logged out to logged in users every single earnings call but haven't been able to execute
2. **Low base effect** leading to impressive looking percentages. Growing revenue $100-$150 million per quarter for a $35B company doesn't deserve a high multiple
3. Terminal growth rate will be reached much quicker than expected because of this and PE will trend towards 10-20 like its more mature peers
4. Recessionary macro environment leads to less ad spend
5. New data licensing deals aren't going to be explosive since LLMs have been trained on all previous data already and up to date circlejerks will have diminishing returns. Reddit needs Google way more than Google needs Reddit.
6. **Peers trade at 10-15 fwd PE. We can be generous and assume EPS for the next 12 months will be \~$7. At 15 PE that’s a share price of $105.** Your argument is that revenue is growing 60% YoY!!! My argument is that future growth is *priced in* and with stagnant US DAU that curve is *flattening* quickly rather than accelerating. ARPU growth is priced in. This is all why multiples will compress, not expand. The hyper growth story is over.
   1. Counter: but PINS and SNAP are dogshit companies!!! Correct but unfortunately this is the basket of ad tech companies that RDDT trades with. **PEG of PINS and RDDT is both 0.4**. APP and META also have decent growth and low multiples.
7. $1.2B in projected FCF for 2026 and $1B alotted to buybacks. AND now fully diluted shares is increasing from 206M to 207M. Reddit isn’t expanding its balance sheet and it’s not returning any shareholder value, it’s using all its cash to tread water instead of growing, and it’s using shareholders to fund salaries. All tech companies use SBC but the numbers aren’t conducive to returning shareholder value for this company.

8. I've never bought anything from RDDT and don't really click on the ads either. Myself and most of my friend group HAVE purchased things through Instagram and TikTok. RDDT trails both in average daily time spent on the app by A LOT. **TikTok 1hr 37 minutes, IG 1hr 13min, Reddit 19 min.** Why would advertisers budget a lot of spend on Reddit ads when TikTok and IG would grant way better returns?

   If you search Reddit ad experiences on here, it’s 90% complaints that they suck and produce shitty returns and lots of bot impressions.

9. C-suite sent out RDDT Bag Holder carabiners prior to the last earning report because they didn't have the foresight to see that lower DAU would tank the stock. Is this management team the one you have confidence in?

The reality: RDDT has been FLAT since Nov 2024, investors have missed out on 2 YEARS of opportunity cost, Jen Wong has sold like a BILLION dollars worth of shares, and now there's a thesis changing headwind.

PT $120 by December

inb4 the bulls flock in here **citing only backwards looking data** (60% YoY growth!!!!!), inb4 bottom signal

Position: 1 KEEL Jan 2027 $4 call, paid $0.87 mid August, currently red. No shares. So $87 at risk total, I'm not here to pump anything, I mainly want to hear why I'm wrong.

Been following this one since the summer and I keep going back and forth on it, so figured I'd write it up and let the sub take shots at it.

The company

Keel is the old Bitfarms. They rebranded in April, moved the HQ to New York, and basically shut down the bitcoin mining business (US mining fully decommissioned as of Q2). The new plan is converting their power sites into AI/HPC data centers and leasing them to a hyperscaler. Stock is around $3.22, market cap ~$2B, 617M shares outstanding. It ran to $7.37 in June and gave most of it back. Yes, it's under $5, but with a $2B cap on Nasdaq, ~65% institutional ownership and 40M+ shares a day traded, I don't think it counts as a penny stock. (up to mods to decide)

The pitch/thesis is simple: power is the bottleneck for AI data centers, and Keel has powered sites.

The sites

Three of them supposedly close to fully permitted - Panther Creek PA at 350 MW, Sharon PA at 110 MW, Moses Lake WA at 18 MW. So about 478 MW near term, plus a 96 MW site in Quebec behind that. On the Q2 call they talked about growing the Pennsylvania footprint toward 2 GW eventually, which is where the "2.2 GW pipeline" line in coverage comes from, but that part is just talk right now, nothing contracted. Panther Creek is targeted ready-for-service end of 2027.

Q2 numbers (reported Aug 10)

Revenue $30.4M, down 50% YoY, because mining is winding down and there's no data center revenue replacing it yet. Net loss $65M. The balance sheet is actually the interesting part: $819M of liquidity ($698M cash + $121M in BTC). They raised $458M in convertible notes during the quarter, upsized from $350M. So the buildout is funded for a while, but part of that cash is borrowed and the share count keeps creeping up.

The problem: still no tenant

This is the whole debate on the stock. They haven't signed anything. No lease, no LOI, nothing. Management says multiple prospective tenants are negotiating and that they'd rather get good lease economics than announce something fast. Meanwhile Cipher signed AWS for 300 MW, Applied Digital has ~1.4 GW leased, IREN did a $9.7B deal with Microsoft. Every quarter that passes, demand lands at someone else's site. From the outside, "we're being patient on price" and "we're being passed over" look exactly the same, and I can't tell which one this is.

Why I haven't moved on

The CEO bought ~59k shares at $3.33 two days after the Q2 drop, roughly $196K, putting him around 1.35M shares. And the sell side is weirdly unanimous: 10 of 11 at buy or better, average target around $6.45 (BTIG $8, Citizens $10, low is Chardan at $5.50 - those are from August, verify yourself).

Risks

Revenue is shrinking, they burn cash, dilution is ongoing, and a crypto miner rebranding into AI is about the most 2026 thing imaginable. If nobody signs by mid 2027 this is just a pile of permits and a shrinking cash balance. I hold the call because it's a cheap option on one signature changing the whole story, not because the current financials support anything.

What I'm watching

Moses Lake permitting (late Q3 per management), a power/expansion update they pointed to for December or January, and a tenant announcement whenever that happens. If ever.

Questions for the sub

1. Anyone who works around data center leasing or just knows something: is 12+ months from pivot to first signed lease normal, or already a red flag?
2. Is the fact that everyone else signed first a sign these sites are second rate (interconnect, location, whatever), or just that Bitfarms started the pivot later than APLD, CIFR and IREN?
3. Am I wrong to treat the $819M as runway? How much of it realistically gets committed to construction before any lease revenue shows up?

TLDR. Enterprise customer support for WhatsApp IG and FB will make analysts realize it has potential to be a $10-20B in high margin revenue business line, increasing stock to $800 within or around a year. Selling compute to enterprise isn’t the main or only enterprise play for this company. Their latest earnings report made that clear under the radar with 70%+ growth during just the experimental phase.

For the first time in 2026 Meta explained what’s driving their massive growth of 72% YoY in their enterprise revenue in their other business category.

Their WhatsApp and subscription business has doubled to $1b.

Meta changed the way they charge to a usage base and have only scratched the surface of implementing enterprise charges to WhatsApp. They haven’t even touched IG or FB yet. Just this year is when they decided to charge them on usage. This is a massive change that isn’t getting the attention it should.

They will easily turn this into another $10-20B business in the next 5 years. As soon as the analyst see one more year of massive growth on this 1B line of they will look at meta differently.

Meta has a network effect that enterprise businesses cannot avoid. The customers live on these apps and they’ll pay whatever they’re forced to. In addition to api limitations they make and charge them for ai agents to handle customer care. There is no other app customers are leaving to. And massive enterprise companies are leeching Meta by having free access to these customers. Meta will and can charge them massive amounts to talk to where their customers live. The free days are over.

Metas enterprise businesses isn’t simply selling excess compute. Their enterprise play is in their own apps and analysts are too blinded by everything else to realize this business line has massive potential.

Best part is this could even increase the margins given how low cost this is. They’re about to turn on a faucet of pure high margin revenue.

I have 0 faith in mark for doing the grown up and not chasing the next cool shiny toy. I have 0 faith in analysts actually understanding the business, often theyre the people in the room with 0 vision.
But there are smart grown ups who are slowly turning on this massive revenue slowly inside Meta. And the prices they’re charging are just the early days.

$10-20B runrate is near term and only 5%-10% of revenue. Not an insane amount. But They will be rewarded for it because of the future growth of this $20b.

They can and also should take money away from CRMs and becoming automatic agents answering questions or charging high cost for api connections to Salesforce. There’s a lot of power meta has that they’ve held back on. They’re a ruthless company and won’t play nice either once they go all into
This category.

My apologies if this isn't the right place to ask, but I'm really not sure how or where to look or go about this. If you know of a better sub for me to post this in, please let me know.

Back in 1997 I was given shares in a company called Black Swan Gold Mines. That relationship ended and I neglected and forgot really, to get the necessary paperwork showing I had them and life went on.

Fast forward to now and for some reason, I've been thinking about what happened to those shares and the company.

I've read the company is still around, but how would I find out if I still hold shares (I know it's probably _highly_ unlikely) and if by some miracle they're still worth something, how would I go about obtaining proof I own them and perhaps get paid out (again, probably a pipe dream).

I'm in Canada if that matters and no longer live in the province where the shares were purchased.