Fugazi Research

SDOT: The Monkey Branching Playbook- Raise Money, Change the Story, Sell Nothing, Repeat

$132.2 million in revenue became $0.0 million in a single year, increasing debt and leading to loan defaults; management responded by selling its last…

Jul 6

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June 2026

RDW: Selling Space Fantasies. Printing Shares.

Redwire is selling investors exciting space fantasies, but its filings tell a different story: Redwire’s business spans defense drones, space…

Jun 29 • Fugazi Research

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$CAST: A Streaming Illusion Hiding a Financial Nightmare

How a Self-serving CEO turned the company into his personal cash cow

Jun 22

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LOST IN SPACE: A NARRATIVE LAUNCHED ON HYPE (ASTS, RDW, SPCE, SIDU, MNTS, RKTO)

Asteroid mines, microgravity strawberry crops, low-orbit data centers, lunar real estate, and a bunch of wishes all floating in the universe of…

Jun 12

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$ASTC: Five Pivots, $262M Lost, and an Unaccountable CEO

From SPACEHAB heritage COVID breath tests, to moonshot buzzwords: backed by thin revenue, a handful of customers, and dependence on capital markets.

Jun 2

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May 2026

$MTC: From Delisting Risk to a Half-Billion-Dollar Fantasy

A Chinese Microcap Waiting for the Rug Pull

May 18

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$CUE: Reverse Splits, PIPE Dilution, and the Illusion of Recovery

One-time revenue. Permanent dilution.

May 11

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$AKAN: A Half-Baked Cannabis Company Where Shareholders Get Smoked

6.7 million resale shares sit behind a 500,000-share count.

May 4

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April 2026

$CAR (Avis Budget Group): A Prisoners' Dilemma of Two Hedge Funds

Extreme debt, a quiet concentration of control, and downside skewed toward public shareholders.

Apr 23

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$SIDU: The Final Orbit before Disaster

Houston, we have a problem; control is NOT effective

Apr 6

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$WATT: "Influencers" Running Away with Your Money

Dilution, Distribution, and Participation (Views Included)

Apr 2

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March 2026

$WATT: A Decade of Promises, A Business Funded by Dilution

Wireless power for devices, drained batteries for investors

Mar 24

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