Wirestock/iStock via Getty Images Blue Owl Capital Inc. ( OWL ) has had very weak share price performance over the last year while its underlying business performance has remained good, but this doesn’t seem to be an opportunity due to the rising risk of a credit crisis ahead. This makes its investment case quite binary and risky, making me cautious as a long-term investor that makes capital preservation a long-term goal for my portfolio. Business Overview Blue Owl Capital is an alternative asset manager with some $307 billion of assets under management (AuM) at the end of 2025. Its business is mainly distributed across three areas, namely Credit, Real Assets, and General Partners (GP) Strategic Capital. About 51% of its AuMs are in private credit, 26% in Real Assets, and the rest is in strategic capital. The company is a leading asset manager in the private credit sector, making Blue Owl one of the main partners for private companies across direct lending and alternative credit markets, plus it also manages several Business Development Companies (BDC). Due to its relatively large size and business profile, its main competitors include other alternative asset managers, such as Blackstone ( BX ) or Apollo Global Management ( APO ), and other BDCs, like Ares Capital ( ARCC ) or Main Street Capital ( MAIN ). Its customer base is diversified across private clients, insurance companies, pension funds, sovereign wealth funds, and others. At the end of last year, about 60% of AuMs were from institutional investors, while 40% were from private customers, with the vast majority (around 75%) being geographically based in North America. Its AUM has increased at very fast growth rates in recent years, from about $62 billion when it was listed to more than $300 billion nowadays, both through organic initiatives and acquisitions. Moreover, the company has also diversified the business across private credit, real estate, data center financing, and others, which has also been an im...

GH Research press release ( GHRS ): FY GAAP EPS of -$0.79. Cash, cash equivalents and marketable securities of $280.7 million as of December 31, 2025 More on GH Research GH Research: GH001 Shows Robust Data Ahead Of FDA IND Decision GH Research surges as FDA lifts clinical hold on depression therapy GH Research surges on upcoming late-stage trial update Seeking Alpha’s Quant Rating on GH Research Historical earnings data for GH Research

As Dubai residents sat on their balconies watching Iranian missiles being intercepted, London-based recruiter Ashwin Anil started getting calls and texts from prospective hires contemplating a move to the Gulf metropolis. Half of them were now having doubts. “In a few cases, they have withdrawn from processes while they reassess things,” said Anil, who handles jobs in private equity, credit and venture funds. Companies, too, are reconsidering hiring there, he said. “A number of firms are continuing as normal, but others are taking a step back and rethinking hires or slowing down processes until they have a clearer view,” said Anil. Dubai and neighboring Abu Dhabi face the most serious threat to their status as hubs for the global economy and magnets for money and talent after war came to their doorstep . At stake is the allure of the United Arab Emirates as a pillar of stability in an uncertain world after its gleaming cities drew the biggest names in finance, became vital travel gateways and embarked on building huge data centers. Alongside others in the Gulf, the UAE has acted as banker to the world , funneling hundreds of billions into global deals and encouraging foreign investors to park their money. Abu Dhabi’s $2 trillion in sovereign wealth, Dubai’s deep pool of private capital and the UAE’s low-tax environment were a dream to firms looking for growth and funding. The recent influx of billionaires , asset managers and global banks had suggested that proximity to the world’s most volatile region could be quietly discounted. That, in the short term at least, looks to be over as the US and Israel pursue their war on Iran and the Islamic Republic retaliates. UAE authorities warned Dubai residents late on Thursday of incoming missiles, urging them to seek immediate shelter. It’s unclear how many expats are thinking of uprooting, or deciding against a move, at this stage. Much depends on the next couple of weeks. For now, the biggest change is that people who were...

Limits set by your bank, not by Zelle To send money, you just need the recipient’s email address or phone number. Transfer limits depend on your bank—for example, Wells Fargo allows $3,500 per day and $20,000 per 30-day rolling period for consumer accounts, while Chase uses a dynamic limit system based on your transaction history and recipient. Important change: As of April 1, 2025, the standalone Zelle app is no longer available. To use Zelle, you must enroll through a participating bank or credit union’s mobile app or online banking platform. Zelle sends money directly between bank accounts, typically within minutes—even on weekends and holidays. It’s integrated into more than 2,200 banks and credit unions, so most people can access it through the banking app they already use. There are no fees to send or receive money. Best for : People with compatible bank accounts who want fast, free transfers through their bank app. Compare your options: See Bankrate’s best checking accounts for 2026 to find the right account for sending and receiving money. Here are the seven best ways to send money, with the details you need to pick the right one for your situation. But not all payment apps work the same way. Fees, transfer speeds, sending limits, and fraud protections vary widely between services. Choosing the wrong one could mean paying unnecessary fees or waiting days for your money to arrive. Sending money to someone else has never been easier, thanks to peer-to-peer (P2P) payments . With a few taps on your smartphone, you can send or receive money in minutes — whether you’re splitting a dinner bill, paying rent, or helping out a family member in a pinch. Wire transfers remain the best option for large sums ($10,000+), though domestic outgoing fees typically run $25–$40. Apple Cash and Samsung Pay Cash offer device-native transfers but require both parties to use compatible hardware. PayPal supports the highest transfer limits at up to $60,000 per transaction for verifie...

Rainer Puster/iStock via Getty Images The U.S.-Iran war is shaking up the entire world, and the European Union is not an exception. Even though it currently wants to stay out, the paradox is that the consequences of this conflict affect mainly the Old Continent. In fact, the two business days following the war break out, the stock market indexes of countries like Spain, Germany and Italy (among the biggest EU economies) fell up to ~ 7%, much more than the S&P 500 (~ 2.50%). Why such a negative market reaction towards countries that are outside of this war? Spain condemned U.S. strikes against Iran and Germany has already announced that it won’t be involved in Iran regime change actions. Italy will probably send some military aid to Gulf countries, but it won’t be actively involved. The reason why these countries (in general, the whole EU) fear this war has nothing to do with military involvement, but energy dependency and markets know that. Their industries desperately need oil & gas, but their domestic production is either absent or too low. EU countries depend on oil & gas imports, and this war is destabilizing their energy supply chain. How the Iran-U.S. war affects the European Union The European Union is not a fast-growing economy. In fact real GDP growth expectations are +1.20% in 2026 and +1.40%; basically three times less than U.S. However, in those growth expectations is not priced in the current U.S.-Iran war and what could be its impact. That’s a big deal since this war is supposed to have a major role in terms of global energy prices (we are already experiencing it), and many EU countries are not self-sufficient: they constantly need to import energy sources, mainly gas and oil. A disruption in the energy supply chain will definitely have a significant impact on the inflation rate, something that has already happened in 2022. Back then, EU countries (especially Italy and Germany) that couldn’t rely anymore on cheap Russian gas imports faced a massive blo...

Hasbro ( HAS ) on Thursday said it priced an underwritten public offering of $400 million in 4.650% notes due 2031, with interest accruing from March 12, 2026, and semi annual payments beginning September 12, 2026. The company expects to receive net proceeds of $397 million after the underwriting discount, which it intends to use for general corporate purposes, including redeeming or repaying outstanding debt. The offering is expected to settle on or about March 12, 2026, subject to customary closing conditions. The notes are being offered under an effective shelf registration statement filed with the SEC. HAS closed -1.81% at $95.37. Source: Press Release More on Hasbro Hasbro: MAGIC Strength Increasingly Reflected (Downgrade) Hasbro, Inc. (HAS) Q4 2025 Earnings Call Transcript Hasbro, Inc. 2025 Q4 - Results - Earnings Call Presentation Hasbro sues the U.S. government to recover tariff costs Hasbro is winning the toy war this year as Mattel spirals lower

Except where otherwise noted, all currency amounts are stated in United States dollars. Financial and Operational Highlights Production in the fourth quarter was 2,364,000 tonnes of methanol compared to 2,212,000 tonnes in the third quarter of 2025. Continued to progress the acquisition integration plan with a focus on safe and reliable operations, ending 2025 with the best two-year safety record in Methanex history. Achieved an average realized price in the fourth quarter of $331 per tonne compared to $345 per tonne in the third quarter of 2025. For the fourth quarter of 2025, Adjusted EBITDA was $186 million, Adjusted net loss was $11 million, and net loss attributable to Methanex shareholders was $89 million. The net loss was largely driven by the non-cash impairment expense of $82 million (inclusive of tax) recorded relating to our New Zealand operations. Full year 2025 net income attributable to Methanex shareholders of $80 million, Adjusted EBITDA of $808 million and cash flows from operating activities of $1,016 million. In 2025, $54 million was returned to shareholders through regular dividends and $200 million of the Term Loan A was repaid with cash flows generated from operations, in line with our goal to deleverage the balance sheet. We ended the year with $425 million in cash. VANCOUVER, BRITISH COLUMBIA, March 05, 2026 (GLOBE NEWSWIRE) -- For the fourth quarter of 2025, Methanex (TSX:MX) (Nasdaq:MEOH) reported a net loss attributable to Methanex shareholders of $89 million ($1.15 net loss per common share on a diluted basis) compared to a net loss of $7 million ($0.09 net loss per common share on a diluted basis) in the third quarter of 2025. Adjusted EBITDA for the fourth quarter of 2025 was $186 million and Adjusted net loss was $11 million ($0.14 Adjusted net loss per common share). This compares with Adjusted EBITDA of $191 million and Adjusted net income of $5 million ($0.06 Adjusted net income per common share) for the third quarter of 2025. Rich ...

100% Of Audited Medicaid Claims For Autism Care In Colorado Were Improper Or Flawed: Report Authored by Sylvia Xu via The Epoch Times (emphasis ours), Colorado’s Medicaid program made an estimated $77.8 million in improper payments and another $207.4 million in potentially improper payments for autism therapy, according to a February report from the Inspector General for the Department of Health and Human Services. A sign in front of the Centers for Medicare and Medicaid Services building in Woodlawn, Md., on March 19, 2025. Kayla Bartkowski/Getty Images Auditors investigated $289.5 million in Medicaid payments from 2022 to 2023 that paid for more than 1 million claims for Applied Behavior Analysis—a therapy used to treat autism and developmental disabilities. Each of the 100 claims reviewed contained at least one improper or potentially improper payment, suggesting a 100 percent failure rate. Improper payments are not necessarily fraudulent. Payments are considered improper when the claim does not meet federal or state requirements. Payments are potentially improper when the submitted claim is so poor or unreliable that auditors cannot verify that the services were provided correctly. Claim Errors In 93 of 100 claims examined, the billing providers either did not provide notes verifying that the therapy took place, didn’t provide the required signatures, or billed for more time than the notes indicated. In 18 cases, the therapy that was supposed to be performed by a specialist—such as a Board Certified Behavior Analyst—was performed by staff without those qualifications. In seven cases, the children receiving therapy lacked a current doctor’s diagnosis or referral on file. In 88 cases, facilities billed for recreational activities that are not considered medical therapy, such as academic tutoring, day care, or custodial care. In one case, a facility billed for children swimming and playing on water slides. In 76 cases, facilities billed for a full eight-hour day wi...

Yuan financing has never been as popular as it is now, with more countries and foreign companies tapping the market, in a sign that China’s ambition to internationalize its currency is bearing fruit. Bonds, either sold within China by overseas entities or issued elsewhere, raised a record 218 billion yuan ($31.6 billion) already this year, as the Indonesian government and Wall Street’s Morgan Stanley joined the binge. That adds to the equivalent of $167 billion borrowed via notes and loans in 2025, a tripling in just five years. The yuan’s growing importance as a global funding currency reinforces China’s push for greater influence in finance and trade, just as the US upsets allies and markets alike with its America First policy. The drive is supported by a renminbi bouncing back from a 17-year low and cheap borrowing costs, and more importantly takes advantage of a desire by some investors to diversify away from the dollar. There are signs Beijing wants more, with the People’s Bank of China last month ramping up support for cross-border financing, while prominent Chinese economists argue for looser capital controls given the historic opportunity to boost the yuan’s global appeal. Since late last year, Wall Street analysts have been flocking to forecast further strength for the currency. “The yuan’s internationalization is gaining real traction, especially in trade settlement and financing,” said Aidan Yao , senior investment strategist for Asia at Amundi Investment Institute. “With a growing share of settlements in yuan for Chinese imports, countries need to hold more yuan, driving demand that spills over into the offshore bond market and creates a virtuous cycle.” A key driver of demand for yuan financing is the lower interest rates in China, where deflationary pressures have persisted. When Indonesia issued a dual-currency bond last month, it sold its 10‑year offshore yuan note at about one percentage point below what it paid on a euro tranche that matures in eig...

Asics Corp. is accelerating its global expansion by taking greater control of marathon infrastructure, a strategy executives say will deepen engagement with runners and convert that access into faster growth in running-shoe sales. The 77-year-old Japanese sportswear maker has been acquiring race-registration platforms in markets including Thailand, Spain, France and Australia. These platforms are being linked with Asics’ membership program to create an ecosystem: runners can register for races, use the company’s tracking app, and receive personalized training plans and footwear recommendations months before race day. Asics views the Sydney Marathon as a successful model, which it would like to roll out as a “best practice,” Chief Operating Officer Mitsuyuki Tominaga said. “Not only do we want to sponsor major marathon events, we want to engage with them directly.” Such early access offers a structural advantage as the industry shifts toward direct-to-consumer models. Few global rivals have bought race-registration platforms at scale and rely instead on high-profile athlete ambassadors — giving Asics a relatively uncontested channel to reach runners. It’s another creative bet for Chief Executive Officer Yasuhito Hirota , under whom Asics has pulled off one of corporate Japan’s most notable turnarounds. The company’s operating profit has climbed sixfold in four years to ¥142 billion ($903 million), reversing a ¥4 billion loss in 2020, while its valuation has surged to about ¥3.4 trillion. Asics says the new strategy is already paying off: sales at its booth during the Sydney Marathon in August rose fourfold from the previous year, while e-commerce sales increased 8.3% to ¥148.4 billion. The strategy was on display at the Tokyo Marathon this month. Revenue at the race expo rose by double digits compared with the previous year, according to the company. Monique Johnson, visiting from Houston for her first Tokyo Marathon, said she typically wears other brands but purchas...

Peter Cade/DigitalVision via Getty Images I was a former shareholder of travel software company Sabre Corporation (NASDAQ: SABR ). I purchased shares and call options early on during the pandemic when travel-related stocks plunged in the wake of the global travel shutdown. While SABR stock initially tried to bounce back, the company never really recovered operationally. I eventually exited my position at a loss. I downgraded shares initially to a hold rating and then subsequently to a sell rating last summer following its Q2 results as the company's downward trajectory continued. That bearishness seemed justified heading into 2026. SABR stock proceeded to new all-time lows in February. However, the stock has now doubled off the lows in just a matter of days, including a 36% jump on Monday: Data by YCharts The stock rallied on news that Canadian software conglomerate Constellation Software ( CSU:CA , CNSWF ) has taken a 9.7% stake in Sabre. So, is it time to follow the smart money and take a stake in SABR stock? I'm not doing so personally. Here's why I remain skeptical about Sabre's outlook. Constellation Takes A Stake This past weekend, Sabre disclosed that Constellation had acquired a 9.7% economic interest in Sabre. It bought this position between April and November of 2025, suggesting that Constellation likely has a cost basis of somewhere between $2 and $3 per Sabre share. Constellation bought a 4.7% position in SABR stock outright, along with an additional 5% holding via derivative instruments. For those unfamiliar, Constellation is a serial software acquirer that buys dozens of different, typically small- and mid-sized software companies every year. In the past, one of Constellation's subsidiary operating groups, Vela Software, has been active in the travel software space. So, Sabre could be seen as a natural (if far larger) acquisition in line with these prior moves into the travel segment. According to Sabre's press release, Constellation had requested two ...

The US Securities and Exchange Commission will end its lawsuit against crypto billionaire Justin Sun . The SEC sued Sun in 2023 , alleging he committed securities fraud and bilked investors by working with companies he owned and controled - the Tron Foundation , BitTorrent Foundation Ltd., and Rainberry Inc. — to sell unregistered securities. Sun didn’t immediately return a request for comment.

U.S. Speaker of the House Mike Johnson (R-LA) speaks with the media on the day of classified briefings for the U.S. Senate and House of Representatives on the situation in Iran, on Capitol Hill in Washington, D.C., U.S., March 3, 2026. Kylie Cooper | Reuters The House of Representatives on Thursday rejected a war powers resolution to restrict President Donald Trump 's authority to use the U.S. military in Iran. The vote was 212-219, with four Democrats joining Republicans to torpedo the measure and two Republicans joining Democrats in voting for the measure. The Senate shot down a similar measure on Wednesday. Read more CNBC politics coverage Iran foreign minister: Not seeking ceasefire, warns U.S. invasion would be ‘big disaster for them’ Epstein files: DOJ plans to release new batch of documents ‘fairly soon,’ MS NOW reports Sen. Merkley proposes prediction market ban for government officials after Maduro, Iran bets The votes, while largely symbolic, show Congress is not currently willing to rein in Trump on Iran. Trump began a bombardment of Iran on Saturday, which killed the country's leader, Ayatollah Ali Khamenei. He and his administration have stated myriad aims for the conflict. Democrats and some Republicans have argued that Trump needs the approval of Congress to conduct the operation. The Constitution vests the authority to declare war in Congress. If it passed, the measure would have been largely symbolic. Trump is almost certain to veto any bill that would reduce his authority to use the military.

Immatics press release ( IMTX ): FY GAAP EPS of - € 1.61. Revenue of € 48.2M. More on Immatics Immatics: PRAME Leader's Transition To Commercial Reality Seeking Alpha’s Quant Rating on Immatics Historical earnings data for Immatics Financial information for Immatics

CHUNYIP WONG/E+ via Getty Images Japanese stocks have finally taken a breather. The WisdomTree Japan Hedged Equity Fund ETF ( DXJ ) has dropped almost 8% from its late-February all-time high. That came after a torrid 95% rally off its April 2025 low. I had a "B uy" rating on DXJ back in August last year , and shares have returned 26% since then, the latest decline notwithstanding. Today, while there may be some technical downside risk into the springtime, I still generally like macro trends in the land of the rising sun. Japan’s P/E ratio has ticked up, so it's no longer a bargain, but given fiscal changes and evolving corporate trends within the island nation (such as an increased focus on shareholders), I believe the long-term growth story is still intact. DXJ Has Outperformed, But Has Turned Lower In March StockCharts.com Japan's P/E Ventures Higher JPMAM Japan: Significant Multiple Expansion YoY Goldman Sachs According to the issuer , DXJ seeks to provide exposure to the Japanese equity market while hedging exposure to fluctuations between the U.S. dollar and the yen. The ETF is used by investors to gain broad equity exposure to Japanese dividend-paying companies with an exporter tilt. Currency hedging techniques are employed to mitigate risks around volatility with the Japanese yen. DXJ is a medium-sized ETF, now with $6.2 billion in assets under management, as of March 4, 2026. That’s almost double the AUM from back at the time of my previous analysis. The annual expense ratio is moderate at 48 basis points, while the trailing 12-month dividend yield is low at 1.15% (about on par with that of the S&P 500). Share-price momentum is rated very strong by Seeking Alpha’s quantitative scoring system at an A+. Of course, the very recent dip will have a negative impact on that grade soon, I believe. Still, the yen-hedged, export-focused Japanese ETF sports solid risk characteristics , despite the tick up in both realized and implied volatility. The current implied vol...

US equity indexes fell while government bond yields jumped on Thursday as the Middle East war escala Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.

Ophir Asset Management initiated a new position in Magnite (MGNI +2.39%) during the fourth quarter, purchasing 2,384,187 shares worth $38.70 million, according to a February 17, 2026, SEC filing. What happened According to an SEC filing dated February 17, 2026, Ophir Asset Management reported acquiring 2,384,187 shares of Magnite during the fourth quarter. The firm had no prior position in Magnite; the quarter-end value of the new stake stood at $38.70 million, reflecting both the purchase and stock price changes within the period. What else to know This was a new position; Magnite now accounts for 4.34% of Ophir Asset Management Pty Ltd’s reported U.S. equity assets. Top holdings after the filing: NYSE: VVX: $49.76 million (5.6% of AUM) NYSE: AIR: $45.49 million (5.1% of AUM) NASDAQ: SIMO: $43.34 million (4.9% of AUM) NASDAQ: HURN: $42.24 million (4.7% of AUM) NASDAQ: MRX: $41.70 million (4.7% of AUM) As of Thursday, shares of Magnite were priced at $14.16, down about 2% for the year and well underperforming the S&P 500’s roughly 16% gain in the same period. Company overview Metric Value Price (as of Thursday) $14.16 Market capitalization $2 billion Revenue (TTM) $702.57 million Net income (TTM) $57.97 million Company snapshot Magnite provides a sell-side advertising platform enabling publishers to manage and monetize digital advertising inventory across CTV channels, applications, websites, and digital media properties. The company operates a technology-driven business model generating revenue primarily from fees charged to publishers and buyers for facilitating digital ad transactions. It serves digital publishers, CTV operators, advertisers, agencies, and demand-side platforms in the United States and internationally. Magnite, Inc. operates an independent sell-side advertising platform with international operations and a focus on connected TV and digital media. The company leverages proprietary technology to optimize ad inventory monetization for publishers and ...

(RTTNews) - Quanex Building Products Corp. (NX) on Thursday, reported financial results for the first quarter ended January 31, 2026. The company's net sales increased to $409.09 million from $400.04 million in the same quarter last year. Quanex Building Products reported a net loss of $4.07 million, or $0.09 per share, compared to a net loss of $14.89 million, or $0.32 per share, in the prior-year quarter. Operating income was $2.85 million, compared to an operating loss of $6.98 million a year earlier. Quanex paid a quarterly dividend of $0.08 per share. NX is currently trading after hours at $19.11 up $0.31 or 1.65 percent on the New York Stock Exchange. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

VV Shots/iStock Editorial via Getty Images The impact of winter storms and the subsequent closure of stores weighed on Gap’s ( GAP ) results for the fourth quarter , leading to softer-than-expected results and driving shares as much as 10% lower in after-hours trading. Although the company reported its second consecutive year of topline growth and eighth straight quarter of positive comparable sales, company-wide comparable store sales of 3% missed the consensus estimate of +3.43%, while net sales of $4.236B were just slightly less than the $4.24B estimate. Gap ( GAP ) earned an unadjusted profit of $0.45 per share, which was less than $0.54 per share a year ago but in-line with expectations. Gross margin of 38.1% declined by 80 basis points from a year ago, while merchandise margin for the quarter was down 90 basis points due to an estimated net tariff impact of 200 basis points. By brand, Old Navy comparable sales increased 3% (versus +3.43% estimates) and increased by 4% for Banana Republic (versus +2.67% estimates) and 7% for the Gap stores (versus +4.38%), but fell by a much greater-than-expected 10% for the company’s Athleta banner. Net sales were up 3% for Old Navy to $2.3B, up 8% for Gap to $1.1B, and increased 1% to $549M for Banana Republic. Athleta sales, however, fell 11% to $354M, leading to a modest 2.1% increase in company-wide net sales. For Q1, Gap ( GAP ) expects net sales to increase 1% to 2%, representing a range of $3.49B and $3.53B versus $3.53B estimates. Additionally, gross margin is expected to decline by 150 to 200 basis points. For FY26, net sales are expected to increase by 2% to 3%, representing a range of $15.7B to $15.86B with a $15.78B midpoint that is above $15.75B estimates. The company also expects EPS to be between $2.20 and $2.35, with a midpoint of $2.28 that is below the $2.32 estimates. More on Gap The Gap: Too Much Pessimism Creates A Buying Opportunity The Gap, Inc. (GAP) Q3 2025 Earnings Call Transcript The Gap: Earnings Gr...

UrosPoteko/iStock via Getty Images Trulieve ( TCNNF ) has announced Q4 and full-year earnings. Results were good. On top of that, doors to growth are opening wider. With an improving regulatory picture, market penetration, and customer retention, it's time to reassess TCNNF. Summary of Previous Thesis When I wrote about Trulieve last August, I maintained my Buy rating. This was because they had proved themselves to be one of the more resilient cannabis operators in a distressed industry, which was facing margin compression plus large debt maturities. Screenshot from previous thesis (Q2 2025 Form 10Q) By comparison, Trulieve had significant cash to cover their debt obligations while also generating north of $200M in free cash flow per year. Screenshot from previous (Q2 2025 Form 10Q) Their financial strength largely drew on their concentration in Florida. This is a medical-only state, and so they had largely invested in this. Crucially, they had not leveraged more than this underlying business could support, which mattered when rescheduling marijuana as a Schedule III substance became a lower priority for President Trump. (As a reminder, cannabis operators cannot deduct expenses outside the cost of goods sold while cannabis is Schedule I.) Author's previous calculation TCNNF was $5.54 at the time. Assuming that their strong financial position would allow them to gain market share while other operators were distressed, I surmised that even lower FCF assumptions and single-digit growth pointed to undervaluation by quite a strong margin and rated it a Buy. Q4 and Full-Year 2025 Results While results for the quarter and full year were positive, it's important to note what they reflect about the industry. Revenue didn't grow much, showing how Trulieve is affected by cycles. Income Statement (2025 Form 10Q) Revenue has hovered around $1B for a few years, but the table also shows improved gross margins in that time, raising them from 52% to 60%. Cash Flow Statement (2025 Fo...