StableX Technologies (SBLX)
Market Price (3/30/2026): $1.78 | Market Cap: $1.7 MilSector: Consumer Discretionary | Industry: Automobile Manufacturers
StableX Technologies (SBLX)
Market Price (3/30/2026): $1.78Market Cap: $1.7 MilSector: Consumer DiscretionaryIndustry: Automobile Manufacturers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -682% | Weak multi-year price returns2Y Excs Rtn is -92%, 3Y Excs Rtn is -132% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil | ||
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -82%, Rev Chg QQuarterly Revenue Change % is null | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1254% | ||
| High stock price volatilityVol 12M is 105% | ||
| Key risksSBLX key risks include [1] exposure to technological failures and security vulnerabilities within the decentralized finance protocols central to its strategy, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -682% |
| Weak multi-year price returns2Y Excs Rtn is -92%, 3Y Excs Rtn is -132% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -82%, Rev Chg QQuarterly Revenue Change % is null |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1254% |
| High stock price volatilityVol 12M is 105% |
| Key risksSBLX key risks include [1] exposure to technological failures and security vulnerabilities within the decentralized finance protocols central to its strategy, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Poor Q3 2025 Financial Performance: StableX Technologies reported extremely poor financial results for Q3 2025 around mid-November 2025. Both revenue and gross margin dropped by 100% year-over-year to $0, and Earnings Per Share (EPS) declined to -$3.84. This financial underperformance significantly impacted investor confidence, contributing to a substantial stock price drop of approximately 30.8% from $3.60 on November 14, 2025, to $2.49 by November 20, 2025.
2. Strategic Pivot to a Volatile Stablecoin Industry: The company underwent a strategic transformation, shifting its core focus from electric vehicle manufacturing to the blockchain infrastructure and stablecoin asset development industry. This pivot into a new, inherently volatile, and unproven sector, including plans to invest up to $100 million in stablecoin-related crypto tokens, introduced significant investor uncertainty and contributed to bearish sentiment, impacting the stock's valuation.
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Stock Movement Drivers
Fundamental Drivers
The -45.4% change in SBLX stock from 11/30/2025 to 3/29/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.35 | 1.83 | -45.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 1 | 1 | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| SBLX | -45.4% | |
| Market (SPY) | -5.3% | 48.7% |
| Sector (XLY) | -10.4% | 33.9% |
Fundamental Drivers
The -70.0% change in SBLX stock from 8/31/2025 to 3/29/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.11 | 1.83 | -70.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | |
| P/S Multiple | 624.4 | ∞ | 9.2233720368547763E17% |
| Shares Outstanding (Mil) | 1 | 1 | -41.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| SBLX | -70.0% | |
| Market (SPY) | 0.6% | 43.5% |
| Sector (XLY) | -8.5% | 34.4% |
Fundamental Drivers
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Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| SBLX | ||
| Market (SPY) | 9.8% | 44.1% |
| Sector (XLY) | -1.3% | 34.7% |
Fundamental Drivers
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Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| SBLX | ||
| Market (SPY) | 69.4% | 44.1% |
| Sector (XLY) | 49.0% | 34.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SBLX Return | - | - | - | - | -61% | -17% | -67% |
| Peers Return | 77% | -83% | 441% | 124% | -26% | -8% | 145% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| SBLX Win Rate | - | - | - | - | 0% | 33% | |
| Peers Win Rate | 44% | 33% | 72% | 50% | 39% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| SBLX Max Drawdown | - | - | - | - | -61% | -17% | |
| Peers Max Drawdown | -11% | -84% | -2% | -35% | -35% | -33% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRCL, COIN, XXI, MSTR, MARA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
SBLX has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -40.3% | -25.4% |
| % Gain to Breakeven | 67.4% | 34.1% |
| Time to Breakeven | 680 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -33.9% | -33.9% |
| % Gain to Breakeven | 51.3% | 51.3% |
| Time to Breakeven | 82 days | 148 days |
| 2018 Correction | ||
| % Loss | -21.9% | -19.8% |
| % Gain to Breakeven | 28.1% | 24.7% |
| Time to Breakeven | 105 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -60.1% | -56.8% |
| % Gain to Breakeven | 150.8% | 131.3% |
| Time to Breakeven | 779 days | 1,480 days |
Compare to CRCL, COIN, XXI, MSTR, MARA
In The Past
SPDR Select Sector Fund's stock fell -40.3% during the 2022 Inflation Shock from a high on 11/19/2021. A -40.3% loss requires a 67.4% gain to breakeven.
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About StableX Technologies (SBLX)
AI Analysis | Feedback
Here are 1-3 brief analogies for the company described in the BACKGROUND section (Ayro, Inc.):
- Like an electric Club Car or E-Z-GO, but purpose-built for commercial last-mile delivery and campus logistics.
- A specialized electric vehicle manufacturer, similar to a 'Tesla for campus utility and last-mile delivery'.
- Like a Rivian, but for low-speed, light-duty campus logistics and last-mile delivery vehicles.
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Josh Silverman Principal Executive Officer, Executive Chairman
Mr. Silverman has served as the Principal Executive Officer and Executive Chairman of StableX Technologies since December 13, 2023, and has been a director since May 28, 2020. He is the managing member of Parkfield Funding LLC and co-founded Iroquois Capital Management, LLC, an investment advisory firm, where he was previously a principal and managing partner. With over 20 years of experience, he has invested in both public and private companies, structured complex transactions across various sectors, and currently serves on the boards of StableX (formerly AYRO), Protagenic Therapeutics, and Neurotrope. Mr. Silverman is also the Independent Chairman of the Board of Petros Pharmaceuticals, Inc. since 2024 and an Independent Director at Femasys Inc.
Joseph Ramelli Chief Financial Officer, Principal Financial & Accounting Officer
Mr. Ramelli was appointed Chief Financial Officer in August 2024. He brings nearly 30 years of experience from the Biotechnology, Biopharmaceutical, and Financial Services industries. A seasoned investor and consultant, Mr. Ramelli specializes in business strategic planning and development, capital raising, talent acquisition, and corporate governance. He is currently an investor and strategic advisor with Ramelli Asset Management and, since 2023, has served as the Vice President of Business Development at Origin Agritech Ltd. His extensive experience includes various management roles, such as chief executive officer, chief financial officer, and president, along with over 15 years in investment firms.
Gilbert Villarreal President of AYRO Operating Company
Mr. Villarreal was appointed President of AYRO Operating Company, Inc., a subsidiary of StableX Technologies, effective August 21, 2024, having previously served as a consultant to the company. He possesses over 32 years of manufacturing experience spanning the Aerospace, Automotive, and Marine industries. Mr. Villarreal is the co-founder and chief executive officer of VLF Automotive LLC and the founder of GLV Ventures, a company recognized for its leadership in the design and production of various vehicles, including electric vehicles. He is a former United States Marine and holds a B.A. in Business Administration.
James Altucher Digital Treasury Asset Manager
Mr. Altucher is recognized as a Top 10 LinkedIn Influencer, entrepreneur, and venture capitalist. He has a notable track record of founding and successfully selling multiple companies. Mr. Altucher actively invests in and advises more than 30 companies across diverse sectors including technology, energy, healthcare, and biotech, and is associated with StableX Technologies' strategic realignment towards stablecoins.
AI Analysis | Feedback
The key risks to StableX Technologies (SBLX) primarily stem from its recent strategic pivot to focus on investments within the stablecoin and broader digital asset ecosystem. The company, formerly known as Ayro, Inc., shifted its business from manufacturing electric vehicles to a pure-play multi-token investment strategy in stablecoins in August 2025.
- Regulatory Uncertainty in Digital Assets and Stablecoins: The regulatory environment for digital assets, including stablecoins, is still in its nascent stages and is subject to rapid evolution. Changes in regulations, such as those concerning reserve requirements, legal recognition, or outright bans in various jurisdictions, could significantly impair StableX Technologies' ability to operate and could adversely affect the value and demand for the stablecoin assets in which it invests.
- History of Losses and Ability to Achieve Profitability: StableX Technologies has a history of operating losses and has not yet achieved profitability. The company continues to incur significant losses, reporting zero revenue and a net loss of over $2.7 million in Q3 2025. This raises substantial concerns about its long-term financial viability and its ability to generate sufficient returns from its new investment strategy to become profitable in the future.
- Market Demand, Adoption, and Volatility of Stablecoins: The success of StableX Technologies' business model is directly tied to the market demand, widespread adoption, and stability of stablecoins and their underlying infrastructure. The digital asset market is susceptible to rapid technological developments, shifts in market sentiment, and inherent volatility, which could impact the value of its investments. The company has already experienced unrealized losses on its digital asset holdings.
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StableX Technologies (SBLX), formerly Ayro, Inc., is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Increased Sales of the AYRO Vanish and its Derivatives: The company has transitioned its electric vehicle focus entirely to the Vanish platform, with all future EV revenue anticipated to stem from the Vanish and its subsequent derivatives. The Vanish is designed for diverse fleet applications, including closed campus mobility, urban and community transport, and last-mile delivery services.
- Expansion of Contract Manufacturing through Tier One Supplier Status with General Motors and Other OEM Partnerships: StableX Technologies secured Tier One Supplier status with General Motors (GM) in December 2024 and subsequently received its first purchase order through this partnership. This relationship is expected to open new design and manufacturing projects with GM, alongside efforts to build a pipeline of opportunities with other major manufacturers.
- Strategic Pivot and Investment in Stablecoin Technology and Crypto Assets: A significant driver of future revenue is the company's strategic shift towards digital markets, specifically stablecoin technologies and crypto asset investments. In August 2025, the company announced a target of acquiring $100 million in crypto assets within the stablecoin industry, a focus that is also reflected in its rebranding to StableX Technologies.
- Development and Revenue Generation from the New Robotics Division for AI-Driven Manufacturing: In February 2025, StableX Technologies launched a robotics division centered on AI-driven, automated manufacturing processes for electric vehicles and associated accessories. This division promptly secured its initial purchase order for high-technology EV chargers, indicating a new stream of manufacturing revenue and capabilities.
AI Analysis | Feedback
StableX Technologies, formerly Ayro, Inc., has undergone a significant strategic shift in its capital allocation decisions over the last 3-5 years, particularly with its rebrand in August 2025. Previously focused on electric vehicles, the company pivoted to an investment strategy in the stablecoin industry.Share Issuance
The company has frequently utilized share issuances to raise capital. For example, in May 2023, Ayro, Inc. announced a registered direct offering of approximately $4.0 million in common stock and warrants. In December 2022, it closed a public offering of common stock and warrants for gross proceeds of approximately $8.0 million. In November 2021, Ayro, Inc. closed a public offering of common stock and warrants, resulting in gross proceeds of approximately $10.0 million.Inbound Investments
StableX Technologies partnered with BitGo to secure and scale its $100 million digital asset treasury strategy in October 2025.Outbound Investments
In August 2025, upon its rebranding as StableX Technologies, the company announced a target goal of acquiring $100 million in crypto assets within the stablecoin industry. As part of this strategy, StableX executed a purchase of Chainlink (LINK) tokens in October 2025. In September 2025, StableX also made its first token purchase as part of its stablecoin investment strategy.Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| StableX Technologies Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to SBLX.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02272026 | MBLY | Mobileye Global | Dip Buy | DB | Cash/EquityDip Buyer with High Net Cash % EquityBuying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation | 0.0% | 0.0% | 0.0% |
| 02202026 | COIN | Coinbase Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.6% | 2.6% | -6.5% |
| 02202026 | SAH | Sonic Automotive | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -5.9% | -5.9% | -6.1% |
| 02132026 | MAT | Mattel | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 2.9% | 2.9% | 0.0% |
| 02132026 | SONO | Sonos | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -0.7% | -0.7% | -4.6% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 50.84 |
| Mkt Cap | 12.6 |
| Rev LTM | 907 |
| Op Inc LTM | -41 |
| FCF LTM | -9 |
| FCF 3Y Avg | -18 |
| CFO LTM | -9 |
| CFO 3Y Avg | -17 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.4% |
| Rev Chg 3Y Avg | 39.3% |
| Rev Chg Q | -5.6% |
| QoQ Delta Rev Chg LTM | -1.3% |
| Op Mgn LTM | -5.9% |
| Op Mgn 3Y Avg | -15.8% |
| QoQ Delta Op Mgn LTM | -3.9% |
| CFO/Rev LTM | 2.8% |
| CFO/Rev 3Y Avg | -3.8% |
| FCF/Rev LTM | -57.8% |
| FCF/Rev 3Y Avg | -62.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 12.6 |
| P/S | 7.1 |
| P/EBIT | -2.2 |
| P/E | -2.2 |
| P/CFO | -0.2 |
| Total Yield | -10.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -20.1% |
| D/E | 0.2 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -5.5% |
| 3M Rtn | -26.2% |
| 6M Rtn | -49.4% |
| 12M Rtn | -39.8% |
| 3Y Rtn | 7.5% |
| 1M Excs Rtn | 2.5% |
| 3M Excs Rtn | -18.5% |
| 6M Excs Rtn | -45.2% |
| 12M Excs Rtn | -54.4% |
| 3Y Excs Rtn | -54.0% |
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/15/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/23/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/02/2022 | 10-Q |
| 12/31/2021 | 03/23/2022 | 10-K |
External Quote Links
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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