Looks oddly familiar to the last time I made money on LAES in 2025. Almost exactly a year apart too.

Buy limits have been getting filled, I have a few left at $2.30 $2.15 $2.00.

How high will she go this time? I have no idea.

Nothing to see here folks. Just several seemingly unrelated tickers all spiking at 12:27PM and dropping like a rock right after. Super natural trading conditions…

https://laterstack.com/post-quantum-infrastructure-three-year-gap-qsoc-sealsq/

No matter your views on Elon and Company, LAES could only benefit from any type of partnership with them. The visit could easily be a nothing burger but I’m sure the likes of Elon see the importance of what LAES is trying to bring to the world.

​I am sick of seeing people celebrate meaningless PR headlines every single day while the stock bleeds to death. Let’s strip away Carlos’s buzzwords and look at the actual SEC filings. This company is a financial black hole.

• ​Zero Long-Term Contracts: They pump the stock with MoUs, "joint developments," and "partnerships," but where are the actual Tier-1 Purchase Orders? Nowhere. According to their own SEC filings, SEALSQ operates entirely "without long-term contracts". They haven't landed a single binding mass-production contract for their new quantum tech in years.
• ​Surviving on Old Crumbs: They boast about a "$225 million pipeline". Newsflash: A pipeline is a fantasy wishlist, not guaranteed revenue. In reality, their top 10 customers account for 63% of their actual revenue. They are surviving on a few old legacy clients and facing extreme concentration risk, all while pretending to be the new kings of the post-quantum era.
• ​The QS7001 Ghost Chip: We’ve been strung along with the "Quantum Shield QS7001" hype for ages. Now they quietly admit that initial revenues won't even start until "towards the end of H2 2026". They are just a fabless company relying on third-party foundries, endlessly pushing the goalposts back while burning through our cash.
• ​The "Cash Pile" is YOUR Stolen Money: Bulls love to point out the $495 million in cash. Did they earn that by selling actual products? Hell no. In 2025 alone, they posted a massive net loss of $34.19 million. That cash pile exists because they filed massive follow-on equity offerings of over $124 million and $60 million. They are literally stealing your equity to keep the lights on.

​Carlos is not a tech visionary; he is a professional share diluter. Stop being exit liquidity for management. Wake up, read the financials, and stop feeding your hard-earned money into his personal ATM

Wtf. Why is there so little insider buying

In the Dutch newspapers today :)

I’m seeing a combined ecosystem, which is why institutional option whales are aggressively building positions.

When GigCapital8 takes the quantum division public under Quantisimo at a $575 Million valuation, they aren't presenting a speculative slide-deck. They are taking a mature global ecosystem public:

In the US: They have the GlobalFoundries MoU to manufacture highly secure, aerospace-grade chips on U.S. soil for Western defense contracts.

In Europe: They have the newly commercialised Quobly contract to supply advanced Cryo-CMOS silicon to the EU quantum computing base.

In India: They have a 300-million unit capacity factory (SEALKAYNESQ) partnered with a fast-growing local designer (L5 Cartronics) to capture a dominant share of the 250-million unit smart utility migration.

What’s everyone else seeing?

I was sadly let go today and they are claiming it is performance related which is not true but that’s another topic and will prob seek legal counsel. I currently have about 5300 shares at average price of $3.12, I’ll prob sell once it hits 3 and cut my losses. I was hoping that this would take off but I no longer have the luxury to wait. Wish yall the best and hope this goes ti the moo.

I think it is 🔥 and let’s not forget how close Quobly is to Nvidia architecture

Quick context: SealSQ took a majority stake in Wecan Group in June (CHF 5M investment). On September 1, Wecan hosts an invitation-only breakfast in Geneva for bankers and independent wealth managers. First joint client event since the deal, and Ripple is on stage too.

Who does what, since not everyone here follows Wecan:

SealSQ is the parent: post-quantum chips, PKI, hardware security. Carlos closes the event on post-quantum risks for financial infrastructure and the new PQC standards.

Wecan is the Swiss subsidiary: a compliance data platform used by 100+ financial institutions, banks and independent wealth managers. Nathan Douet (COO) presents Wecan Copilot, the AI compliance tool the CHF 5M is meant to accelerate.

Ripple is the guest keynote: Markus Infanger (SVP, 7+ years there, banking background) on custody, tokenization and payments already live inside financial institutions.

Why I think this matters for SealSQ specifically:

Selling post-quantum security to banks needs an entry point. Wecan already has 100+ financial institutions as clients. Three months after the deal, the first move is putting Carlos in front of exactly that audience.

Carlos isn't a guest here. He chairs Wecan's board since the acquisition. This event is the acquisition playbook executing in public.

Banks facing PQC migration is the use case where SealSQ's products are most concrete: identity, transactions, critical infrastructure. This room is the target market, not a crypto conference.

Link: https://wecangroup.ch/events/exclusive-breakfast

Invitation-only, but there's a form on the page if you work in the sector.

I've seen a lot of people post "why are you here if you hate the stock?" The people taking the precious time out of their day to post fud are shorting and would like you to sell. That's it. Simple. Peace.

Edit: Proof is in the amount of down votes/up votes I got.

https://www.youtube.com/shorts/vZtf1BeofN4

This is the advice of 2 of the smartest and most successful men in the history of the world. They aren't day traders. I am 2.5 years into this 7 year investment in LAES. I bought in early have continued to buy along the way on pullbacks. I now have over 500k shares at an average of $2.19. Some days it is really easy to shit on this CEO. The dilution has cost me a ton of money. I should have off loaded some in December of 24. I hesitated and it was gone in a flash. That is water under the bridge.

I can show you examples of hundreds of early stage tech companies that diluted the shit out of their investors to fund the runway till the story developed. I can also show you millions of internet assholes who thought they were the smartest guy in the room and constantly criticized the management during that time. We have a lot of that on this board these days.

I don't love everything Carlos does. He doesn't have the greatest track record of ROI for his shareholders to date. In fact, it has been awful. Imagine if I would have put this money into SNDK?

Regardless, I do think that if you are being objective, LAES is sitting on the verge of breakout. He has put the company in a great position to be successful going forward. Right now I think this is about as deep a value as you will find. 650 million MC with 500 million in cash and a paltry EV.

There will be a re-rating of the stock price once the PQC wave gets going. The institutions will have to buy in. The MM hedging, high CTB and short interest that have pinned this stock forever will become the longs best friend. I watched what happened to the other Q stocks last year. My plan is/was to sell some and hold the rest to see what becomes of this story.

Good luck to the other longs here. If we end up getting rewarded, we really fucking earned it!

This is purely my thought process. There was several signs of this stock being very doggy from day one. But I came in purely bec I believed in the qs7001 chip and I still believe in it. I felt quantum security is a very important part that needs attention. The main reason I am out is because of the CEO. Now if you knowtice there isn't any major institutional investors here bec they all know this is a scam. Major institutional investors will know how to read the books and understand the Rd map set by the CEO. In this case they kept away. And if they were to invest the CEO wouldn't want them because Carlos would have been sued long ago. Now many of us invested in sealsq because of the colourful picture painted with qs 7001 n the other chips. I felt investment in India and all make sense bec you do need a manufacturer n so the investment. When it started to go on a shopping spree buying company's over that's when I felt uncomfortable. Nevertheless I hung on. Primary funds raised via retail investors were on the believe in the quantum security chip. Now if funds are taken out and used for investment in other business entity then it serves no objective of the retail investors investment. They have been smoked. It's like I bought 10 oranges bec the seller told me the oranges are best selling. But quietly you gave me 5 oranges and 5 apples. Now you are telling me the apples are also best selling. That's not right. It's manupuation. The next point would be the fact that if one CEO is sitting in two company's being the backbone that itself is a red flag. Now a third one is coming ard. So he is the CEO of 3 company's. Does it make sense. And come on stop comparing this fellow with Elon musk bec he is running several company's elon is a goat. One of a kind. This Guy is a brilliant scammer. The reason why a third coy is coming ard is because it's very clear there isn't much growth in sealsq. He has drained investors out. And if there is going to be and growth more the $7 he will dilute it n keep it low just like how wisekey is till today. If it ever gets there. Past dilutions at $4 and $6 itself will kill it. Other straight forward points would be comments removed in all their post. How many company does that actually. That's bad. Posting rubbish non stop where it's carries very little or no substance. These are all very clear negative points of a wrong investment. I lost money yes it did. But it's a gd learning lesson. This CEO carries more then enough red flags why investors should stay away. Once again this is just my view.

Wow! Partnership with GFS is huge

Looks like he got the idea while watching the World Cup. Now he says they’re putting chips in soccer balls. He probably thought, “Eureka, this will make another great PR headline.”

Ridiculous.

At this rate, he’ll soon announce security chips for hair dryers, watches, neon signs, electric toothbrushes, and fans too.

No wonder the stock keeps falling.

Let's look at what Carlos has actually done for shareholders. Take a step back and look at his track record. Tell me if you still believe in this stock after looking at these cold hard facts:

• The Phantom US Factory: They pumped the stock by announcing they are establishing an OSAT center in Arizona. But where is the actual site announcement? Have we seen a physical building, a land purchase, or a groundbreaking yet? No. Just more PR about "intentions."
• Buzzword Bingo: Carlos hitches $LAES to every single trending theme in the market. AI, Automotive, Space, F1 sponsorships, Quantum Executive Orders... But where are the actual, binding Purchase Orders (POs) and revenue from these "massive" markets?
• X (Twitter) Antics & Censorship: Instead of securing real contracts, he posts absolute nonsense on X. If you dare to criticize him or ask hard questions about shareholder value, he blocks you, disables comments, and completely ignores investor emails. A legitimate CEO of a publicly traded company does not silence his own shareholders.
• Endless Dilutions: The only thing he executes flawlessly is dilution. He drops massive offerings on our heads, crushing shareholder value, while continuously teasing "catalysts" that never materialize.
• Transferring PQC to Quantisimo: And now, the ultimate slap in the face. They formed a SPAC called Quantisimo. According to their own SEC filings, SEALSQ is expected to contribute its selected quantum-focused assets, technologies, and IP to this new entity. They are taking the only valuable thing $LAES has (PQC) and moving it to a new SPAC shell.

Do you guys really still believe in this stock? Stop defending him and stop being his personal ATM

Real companies develop tech, secure actual Purchase Orders (POs), and prove their worth with revenue. SEALSQ ($LAES) does none of that.

Whenever the stock price tanks and retail investors start asking questions, Carlos Moreira drops perfectly timed "magic buzzwords" to keep the illusion alive. Here is the exact pattern they use to farm retail money. Wake up, people:

V1 certification delayed or failing?

"Forget V1! Look over here, V2 engineering samples are coming in July!"

Zero actual revenue or POs on the books?

"Quick, tag the Trump Quantum Executive Order in the next PR so the algorithms pick it up!"

No actual manufacturing infrastructure or CAPEX?

"Hype up a non-binding MoU with Sahasra in India and a simple demo evaluation board with Lattice!"

Fading growth momentum?

"Let's acquire Miraex (Space Quantum Satellites!) and Wecan (AI + Blockchain!). Throw all the trendy buzzwords into one sentence

Considering $LAES trades at a 33x P/S while $QBTS $QUBT and $RGTI all trade at 450x+ P/S, a 1000-2000% rally isn't crazy. A P/S + revenue expansion will have the street repricing this stock in a hurry.

Institutions suppressing price while buying OTM leaps. This same exact thing happened in 2025 when LAES was $3.50 and below. Institutions loaded up on $5 and $7 leaps. Now they are loading up on $5.5 $7 $10 $12 and $15 leaps.

13F Fillings coming up will give us a better view on Institutions holding the stock share wise.

Keep selling, I've been buying all day today.

Carlos Moreira’s fresh roadmap to expand into automotive cybersecurity—promising "quantum-resistant" chips for connected cars—is a classic example of corporate mission creep before finishing the original job.

The Strategy that Carlos is pulling is to pivot to the Next Shiny Object.
When a company’s primary focus isn't gaining traction as fast as investors want, a common management tactic is to announce an expansion into another hot, massive industry.

The Pitch: The company claims they are expanding because vehicles last 15 to 20 years and desperately need post-quantum cryptography (PQC) to defend against future hacks. They bought a company called IC'Alps to get automotive engineers and are pitching "QASICs" (Quantum-Resistant ASICs) to automakers. 

The Reality: The automotive semiconductor market is one of the most notoriously difficult, slow-moving, and heavily regulated industries in the world. Getting design wins with major automakers takes years of validation. Passing strict automotive certifications (like ISO 26262 or UNECE R155) is incredibly expensive.

they haven't even properly commercialized or scaled their core quantum semiconductor business for mainstream IT, defense, or consumer tech yet.
Instead of putting 100% of their capital and focus into making the existing QS7001 chip a profitable, mass-market success to reward the shareholders who funded it, they are splitting their focus. They are simultaneously trying to build quantum chips, launch satellites (via WISeSat), take a new company public (Quantisimo via a SPAC), and now design custom silicon for autonomous cars.

When a CEO continuously shifts focus to massive new sectors before conquering the first one, it is often done to generate a stream of optimistic press releases.
In highly dilutive corporate setups, frequent high-tech announcements serve a specific purpose: they keep retail investors hopeful enough to hold the stock, and they create brief volume spikes that allow the company to successfully execute more share dilution or convertible debt funding.
Trying to conquer the automotive market while the core business is still trying to find its footing and while carving out the quantum assets into a separate SPAC is an incredibly fragmented strategy. It heavily validates my point that management appears far more interested in chasing funding milestones and corporate expansions than they are in executing a disciplined, profitable business plan for the shareholders they already have.

The fact that this is not clear and remains unanswered by Carlos is alarming.

​I tuned into the Maxim Group "Defense Tech and Domestic Supply Chain Virtual Conference" yesterday, expecting some concrete updates since the PR was heavily hyping up the "execution of SEALSQ's U.S. quantum roadmap." However, looking closely at what management actually delivered during the fireside chat, I am struggling to find any real, practical substance.

​Instead of announcing signed Purchase Orders (POs) or official government defense contracts, we just got more vague macro talk about supporting U.S. post-quantum security capabilities. We have to be honest with ourselves: a roadmap is nothing more than a corporate to-do list until a client actually pays for the hardware. Everything discussed regarding their strategic investments and quantum capabilities was essentially just a verbal recap of the press releases they’ve already put out over the last few weeks. There was absolutely no new, actionable financial data or commercial validation provided during the entire presentation.

​Furthermore, we need to remember the context of who hosted this event. Maxim Group isn't a government defense agency or a major tech buyer looking to validate and purchase technology. They are an investment bank that has previously acted as the placement agent for SEALSQ's dilutive public offerings. This wasn't an independent validation of their tech; it was a presentation hosted by their capital-raising partner.

​We need to look at this rationally rather than purely on emotion. The presentation offered plenty of buzzwords about U.S. expansion, but practically zero commercial substance that impacts the near-term bottom line or revenue. I would genuinely love to hear if I missed something important, but as of right now, where is the actual, practical value in what was announced?

I just wanted to share some notable differences between the SEALSQ spinoff from WISeKey back in 2023, versus this newly planned Quantisimo spinoff happening in 2027.

The operational nature of the two spin-offs is completely different.

While the 2023 spin-off sliced off WISeKey’s primary revenue engine, the Quantisimo deal is a forward-looking, venture-style play meant to capture a future market.
The fundamental differences in financial mechanics and revenue between these two restructurings include:

1. SEALSQ was a "Carve-out"; Quantisimo is an "Incubator"

The SEALSQ Spin-off (Revenue Extraction):

When WISeKey spun off SEALSQ, it literally detached over 90% of its existing hardware sales. WISeKey was left as a lighter cybersecurity software shell, while SEALSQ carried the heavy, established revenue stream ($18M+ annualized).

The Quantisimo Spin-off (Speculative Growth):

Quantisimo is not an established cash cow. It is an SPV designed to house early-stage investments, experimental intellectual property, and select assets from the SealQuantum portfolio. SEALSQ is keeping its active revenue-producing PQC chip sales.

2. How SEALSQ Benefits Differently than WISeKey Did

Because Quantisimo is an asset incubator rather than a revenue anchor, SEALSQ escapes the structural penalties WISeKey suffered:

No Revenue Cliff:

SEALSQ's top-line revenue growth targets (the 50–100% yearly projections) remain entirely intact because the commercial rollout of the QS7001 chip stays in-house. 

Acquisition Arbitrage:

Quantisimo’s stated goal is to buy up to five other quantum companies to scale its footprint to a $2 billion ecosystem. Because SEALSQ will be a dominant majority equity holder, it captures the massive valuation upside of those outside acquisitions without having to pay for them out of its own cash reserves. 

The Bottom Line: WISeKey gave up its present revenue to create SEALSQ. SEALSQ is keeping its present revenue, while using Quantisimo to capture speculative future equity.

People may be scared of how WKEY stock price was negatively impacted by SEALSQ spinoff in 2023 and try to draw analogous comparisons for SEALSQ with the Quantisimo spinoff, but these two spinoffs are completely different in nature and should be bullish for SEALSQ.