HeyJaredThe Value Road
I research nano and micro-cap value stocks. Margin of safety over everything. Anything off the beaten path.
- Indexed issues, last 90 days
- 15
- Latest publication
- Sep 29, 2026
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- Earliest in this view
- Aug 4, 2026
Latest issues
There Is a Bank That Legally Cannot Be Sold. In Three Weeks, That Expires. (opens the original)
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Somewhere in the Midwest there is a savings bank that has been taking deposits since the 1800s.For its entire existence — through two world wars, the Depression, the S&L crisis, 2008 — it has been impossible to buy. Not expensive. Not closely held. Legally impossible. And when it finally converted to stock form and listed, federal regulation slammed a three-year window shut over the top of it: nobody may acquire control of a converted thrift for thirty-six months.That window expires on a specifi
The Thesis Worked. Now What? (opens the original)
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In May, I wrote up a nano-cap trading below its own cash on a thesis that depended on three things: a cryptic executive award disclosure, an unannounced segment sale, and a price range for that sale. All three came true. The stock is up 53% since initiation and 16% since my last check-in I did on them in August and the discount to net cash I originally flagged has now fully closed.What’s left is stranger than what I started with. The remaining business earns roughly $7M of pro forma operating in
GameStop Is Extreme Deep Value (opens the original)
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GameStop is the most misunderstood company I know of and it is misunderstood for a reason that has nothing to do with its business. The ticker still wears the hair of 2021. Say “GameStop” to anyone who manages money and you get the same reaction: a short laugh, a reference to Reddit, and a change of subject. Nobody on the sell side wants the name in a note, nobody on the buy side wants it on a 13F, and the result is an $11 billion company that trades on a narrative from five years ago while the
This Business is Trading at 11x Earnings, Has a Record Backlog, and Just Posted Their Best Quarter Ever (opens the original)
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I pitched this company at $4.85 in August for the MS Microcaps Virtual Conference and right now the stock is sitting 16% lower despite the company putting up the best quarter in its history. We’re talking revenue shooting up 53%, a record $51.1 million backlog, and a book-to-bill of 1.18x two years into this ramp up. The stock is 16% cheaper while trailing earnings are 7% higher. This is a business I have owned since 2024 and I last bought in when the stock was at $4.01 this past April. It’s cur
One of the Best Business Models in the World Just Went on Sale (opens the original)
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Start with a question. What would you pay for a business that turns 84 cents of every revenue dollar into EBITDA, needs almost no capital to grow, grew revenue 70% last year and 53% last quarter, generates more than $6 million of revenue per employee, and has a self-improving machine learning system at its core that gets better every time a customer spends a dollar on it?Now consider that this business just fell 57% from its high, trades at 18 times EBITDA and 23 times earnings, and offers a 4%
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