Research
Equity research straight from the filings — one public company per report, every figure traceable to an SEC filing. No hype, no price targets.
Green Thumb (GTBIF): The Best-Run MSO — and the One the Catalyst Helped Least
We covered Green Thumb at $6.67 - here's what changed. Cannabis rescheduling finally started, but the April relief is medical-only, so the most profitable MSO still paid a 76% tax rate last quarter. If broad rescheduling lands, earnings nearly double - and the stock sits at ~8x those adjusted earnings.
+1 prior report
Microsoft (MSFT): The First $100B Software Profit — Is the AI Capex Worth It?
Microsoft just cleared $100B in net income and re-accelerated to 18% growth — while running the largest capex program in history. Is the AI/Azure super-cycle earning its keep? A clear-eyed bull/bear on the numbers, from the SEC filings.
Trulieve (TRLV): A 228% Tax Rate, the NYSE, and the First Profit in Years
We first covered Trulieve in March — buried under a 228% tax rate, with the rescheduling catalyst still just a promise. The update: it's now the first U.S. cannabis company on the NYSE, its quarterly tax rate fell to 87%, and it posted its first profitable quarter in years. The real question: what does a cash machine like Trulieve do with profitability it hasn't had in years — buybacks, acquisitions, expansion? We pull the SEC filings. Continuing coverage. Not advice. No price targets.
+1 prior report