Apr. 14 at 11:02 PM
$SURG Bears had a valid thesis prior to today’s earnings report, but the Q4 numbers confirm the company has successfully pivoted after the ACP subsidy program was cut in 2024. Sequential revenue acceleration and margin expansion throughout 2025 demonstrates that there is a credible path and sufficient runway to the guided
$225MM revenue in 2026. Today’s valuation is severely disconnected from the company’s trajectory. Per Fintel there are ~700k shares available (~5-10 days) for shorts to keep applying pressure while they try to get out, after that there’s huge liquidity gaps up to
$3.
