Stardust Power (SDST)


Market Price (9/16/2026): $0.1271 | Market Cap: $1.4 MilSector: Industrials | Industry: Electrical Components & Equipment

Stardust Power (SDST)


Market Price (9/16/2026): $0.1271
Market Cap: $1.4 Mil
Sector: Industrials
Industry: Electrical Components & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more.

Weak multi-year price returns
2Y Excs Rtn is -138%, 3Y Excs Rtn is -170%

Penny stock
Mkt Price is 0.1

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -15 Mil

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 180%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1124%

High stock price volatility
Vol 12M is 126%

Key risks
SDST key risks include [1] poor financial health and a critical need for additional capital, Show more.

0 Megatrend and thematic drivers
Megatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more.
1 Weak multi-year price returns
2Y Excs Rtn is -138%, 3Y Excs Rtn is -170%
2 Penny stock
Mkt Price is 0.1
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -15 Mil
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 180%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1124%
7 High stock price volatility
Vol 12M is 126%
8 Key risks
SDST key risks include [1] poor financial health and a critical need for additional capital, Show more.

SDST in ETFs

Weight = SDST's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/3/2026

Stardust Power (SDST) stock has lost about 95% since 5/31/2026 because of the following key factors:

1. Critical Cash Position and Dependency on External Financing.

Stardust Power, a pre-revenue company, saw its cash and cash equivalents dramatically fall to approximately $0.5 million by the end of fiscal Q2 2026 (June 30, 2026), down from $3.5 million at December 31, 2025. This critical cash level highlights the company's urgent need for significant external construction financing to advance its Muskogee lithium refinery project.

2. Significant Share Dilution from Capital Raises.

To sustain operations and project development, Stardust Power has engaged in equity financing, including raising approximately $3.1 million in net proceeds through its At-The-Market (ATM) equity program subsequent to fiscal Q2 2026. This has led to a higher weighted average number of shares outstanding, resulting in significant dilution for existing shareholders.

Show more
Updated on 9/3/2026

Stardust Power (SDST) stock has lost about 95% since 5/31/2026 because of the following key factors:

1. Critical Cash Position and Dependency on External Financing.

Stardust Power, a pre-revenue company, saw its cash and cash equivalents dramatically fall to approximately $0.5 million by the end of fiscal Q2 2026 (June 30, 2026), down from $3.5 million at December 31, 2025. This critical cash level highlights the company's urgent need for significant external construction financing to advance its Muskogee lithium refinery project.

2. Significant Share Dilution from Capital Raises.

To sustain operations and project development, Stardust Power has engaged in equity financing, including raising approximately $3.1 million in net proceeds through its At-The-Market (ATM) equity program subsequent to fiscal Q2 2026. This has led to a higher weighted average number of shares outstanding, resulting in significant dilution for existing shareholders.

3. Persistent Net Losses Without Revenue Generation.

For fiscal Q2 2026 (ended June 30, 2026), Stardust Power reported a net loss of $3.9 million, an increase from $3.7 million in the prior-year period. As a development-stage company, it continues to incur losses without generating any revenue, placing ongoing pressure on its financial viability.

4. Nasdaq Minimum Market Value Concerns.

The company is evaluating options to meet Nasdaq's minimum market-value requirements, indicating a potential risk of delisting. This uncertainty surrounding its listing status can further erode investor confidence and contribute to the stock's decline.

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Stock Movement Drivers

Fundamental Drivers

The -94.0% change in SDST stock from 5/31/2026 to 9/15/2026 was primarily driven by a -10.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120269152026Change
Stock Price ($)2.280.14-94.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)1011-10.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/15/2026
ReturnCorrelation
SDST-94.0% 
Market (SPY)0.1%5.5%
Sector (XLI)-2.5%10.2%

Fundamental Drivers

The -96.0% change in SDST stock from 2/28/2026 to 9/15/2026 was primarily driven by a -24.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820269152026Change
Stock Price ($)3.430.14-96.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)811-24.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/15/2026
ReturnCorrelation
SDST-96.0% 
Market (SPY)10.7%22.9%
Sector (XLI)-4.4%23.6%

Fundamental Drivers

The -96.6% change in SDST stock from 8/31/2025 to 9/15/2026 was primarily driven by a -42.9% change in the company's Shares Outstanding (Mil).
(LTM values as of)83120259152026Change
Stock Price ($)4.020.14-96.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)611-42.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/15/2026
ReturnCorrelation
SDST-96.6% 
Market (SPY)18.4%23.7%
Sector (XLI)12.2%25.4%

Fundamental Drivers

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Market Drivers

8/31/2023 to 9/15/2026
ReturnCorrelation
SDST  
Market (SPY)74.1%10.0%
Sector (XLI)62.5%11.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SDST Return----65%-91%-96%-100%
Peers Return489%-44%-7%-15%83%-31%228%
S&P 500 Return27%-19%24%23%16%11%103%

Monthly Win Rates [3]
SDST Win Rate---17%33%22% 
Peers Win Rate50%31%40%46%62%44% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
SDST Max Drawdown-----95%-97% 
Peers Max Drawdown-39%-57%-59%-53%-48%-51% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: LAC, SLI, ALB, TSLA.
[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 9/15/2026 (YTD)

About Stardust Power (SDST)

Stardust Power Inc. (SDST) is a vertically-integrated lithium refinery operating in the critical materials sector. The company, founded in 2022 and based in Greenwich, Connecticut, focuses on a crucial stage of the lithium supply chain, which is essential for modern energy technologies.

The company's core business involves producing battery-grade lithium. This specialized product is a high-purity form of lithium required for manufacturing advanced rechargeable batteries. Stardust Power aims to transform raw lithium into a refined material suitable for high-performance applications, thereby addressing a key component need for the energy transition.

Stardust Power primarily serves the burgeoning market for electric vehicle (EV) batteries, energy storage systems, and other high-tech applications requiring reliable and high-quality lithium. Its main customers are expected to be battery manufacturers and automotive companies seeking to secure a stable supply of refined lithium for their production lines.

AI Analysis | Feedback

Here are 1-3 brief analogies for Stardust Power (SDST):

  • The Shell or ExxonMobil of lithium refining.
  • The Alcoa of battery-grade lithium.

AI Analysis | Feedback

  • Battery-grade lithium: High-purity lithium compounds essential for the manufacturing of electric vehicle batteries and other energy storage solutions.

AI Analysis | Feedback

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Roshan Pujari Founder & Chief Executive Officer

Roshan Pujari is the founder and CEO of Stardust Power. He brings over 20 years of experience in investments and transactions. Prior to founding Stardust Power, he established the diversified investment firm VIKASA Capital and led its clean energy practice, gaining a deep understanding of lithium. He is also the chairman of the Pujari Foundation, a philanthropic organization.

Uday Devasper Chief Financial Officer

Uday Devasper has 22 years of experience in North America and Asia, leading finance and accounting teams in public accounting, accounting advisory, and publicly traded organizations. He was part of the founding team at Effectus Group, where he drove double-digit growth and led more than 15 de-SPAC/IPO transactions in the Technology Industry vertical. Mr. Devasper previously held positions at KPMG, Synopsys, and Echelon.

Pablo Cortegoso Co-Founder & Chief Technical Officer

Pablo Cortegoso is a Co-Founder of Stardust Power and serves as its Chief Technical Officer. He has over a decade of experience in civil and mining projects, with a specialization in lithium. His prior experience includes working with Aurora Lithium and SRK Consulting.

Chris Celano Chief Operating Officer

Chris Celano brings over 20 years of executive leadership experience, having served as a CEO, securities attorney, and being a graduate of MIT. He previously held the role of President and CEO of IHI E&C International from 2016 to 2024, where he managed complex project deliveries. At Vantage Drilling, he contributed to developing a backlog exceeding $2 billion and a drilling program that reached depths of 30,000 feet. His expertise spans the energy, drilling, engineering, procurement, and construction (EPC) fields.

Paramita Das Chief Strategy Officer and Senior Advisor to the Chief Executive Officer

Paramita Das holds the titles of Chief Strategy Officer and Senior Advisor to the Chief Executive Officer at Stardust Power. Chris Celano, the Chief Operating Officer, reports to her.

AI Analysis | Feedback

The key risks to Stardust Power (SDST) are:

  1. Financial Health and Project Financing: Stardust Power is in a nascent stage of its operational lifecycle and faces significant financial challenges. The company has reported weak financial health, including zero revenue growth, negative earnings per share (EPS), and potential liquidity constraints as evidenced by low current and quick ratios. Furthermore, its balance sheets have indicated negative stockholder's equity, suggesting financial strain that requires efficient strategizing to manage debt. The successful completion and ramp-up of its $1.2 billion lithium refinery project in Muskogee, Oklahoma, are heavily dependent on securing adequate financing.
  2. Operational Execution and Feedstock Supply: While an independent review has indicated low technical and design risk for the Muskogee refinery and achievable Phase 1 production targets, the company still faces the substantial challenge of successfully constructing and bringing the large-scale facility online. Stardust Power's business strategy relies on securing multiple sources of feedstock from various lithium producers, and its ability to source lithium brine is crucial. Any delays in construction, unforeseen operational issues during the ramp-up phase, or difficulties in establishing and maintaining a consistent and diverse supply chain for lithium feedstock could significantly impact its ability to meet production goals.
  3. Market Fluctuations and Competition: As a participant in the industrial sector, Stardust Power is exposed to market fluctuations and broader supply chain challenges. The electric vehicle (EV) market, which the company targets with its battery-grade lithium, is subject to evolving consumer demand, competitive pressures, and rapid technological developments. Additionally, fluctuations in lithium prices can impact profitability, and the company faces competition from other established and emerging players in the lithium production and refining space.

AI Analysis | Feedback

The following are clear emerging threats for Stardust Power:

  • The rise and increasing adoption of alternative battery chemistries, such as sodium-ion batteries. These technologies offer a substitute for lithium-ion batteries in certain applications, particularly for grid storage and lower-cost electric vehicles, potentially moderating the growth trajectory for demand for battery-grade lithium.
  • Rapid advancements and commercialization of Direct Lithium Extraction (DLE) technologies by competitors. If DLE proves to be significantly more cost-effective, environmentally friendly, or efficient than traditional lithium refining processes, it could create a competitive disadvantage for companies reliant on conventional methods, potentially disrupting existing refining supply chains.

AI Analysis | Feedback

The addressable markets for Stardust Power's main product, battery-grade lithium, include the overall lithium market and the battery-grade lithium carbonate market.

For the **U.S. market**, the lithium market was valued at USD 1.06 billion in 2023 and is projected to reach USD 2.38 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 12.6% from 2024 to 2030. Another estimate places the U.S. lithium market size at USD 1.14 billion in 2024, with a projected growth to USD 3.69 billion by 2034 at a CAGR of 12.48% from 2025 to 2034.

For the **global market**, the overall lithium market size is estimated at USD 11.05 billion in 2025 and is predicted to grow to approximately USD 34.43 billion by 2035, expanding at a CAGR of 12.04% from 2026 to 2035.

More specifically for **battery-grade lithium carbonate**, the global market size was valued at USD 30.86 billion in 2025 and is projected to grow to USD 111.92 billion by 2034, exhibiting a CAGR of 15.39% during the forecast period. The North American battery-grade lithium carbonate market is valued at USD 31.4 million in 2025 and is expected to reach USD 79.6 million by 2034, growing at a CAGR of 10.41%. Within North America, the U.S. leads with a market size of USD 22.8 million, holding a market share of 28.6%, and growing at a CAGR of 10.47%.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for Stardust Power (SDST) over the next 2-3 years:

  1. Commercial Operation and Ramp-up of the Muskogee, Oklahoma Lithium Refinery: Stardust Power's primary driver of future revenue will be the successful completion and commercial operation of its large-scale lithium refinery in Muskogee, Oklahoma. The company is currently in a pre-revenue, developmental stage, and the refinery is projected to have an annual capacity of up to 50,000 metric tons of battery-grade lithium. Initial production capacity is planned for 25,000 metric tons annually in Phase 1, with an expansion to 50,000 metric tons in Phase 2. The facility has secured the necessary permits for construction and commissioning.
  2. Growth in Demand from Electric Vehicle (EV) and Energy Storage Markets: The burgeoning demand for battery-grade lithium from the electric vehicle and energy storage sectors is expected to be a significant driver. Stardust Power aims to capitalize on the projected increase in EV adoption rates, which are forecast to rise from 14% to 30% between 2022 and 2026. The U.S. lithium market alone is anticipated to reach 321,000 tons of Lithium Carbonate Equivalent (LCE) by 2030.
  3. Securing and Fulfilling Long-Term Off-Take Agreements: Establishing and executing long-term off-take agreements with major battery manufacturers is crucial for Stardust Power to ensure a consistent customer base and stable revenue streams once its refinery becomes operational. The company has already secured off-take agreements with GeoLithium and QX Resources for North American lithium supply.
  4. Diversification of Lithium Feedstock Sources: Stardust Power's strategy to source lithium from multiple avenues, including lithium brine assets, produced water from oil and gas producers, and technical or crude grade lithium, aims to create a resilient and diversified supply chain. This approach can help mitigate supply risks and ensure a steady input for the refinery, thereby supporting continuous production and revenue generation.

AI Analysis | Feedback

Share Issuance

  • Stardust Power became a publicly listed company in July 2024 through a business combination with Global Partner Acquisition Corp II (GPAC II), with an implied pro forma enterprise value of $490 million.
  • In January 2025, Stardust Power priced a public offering of up to 4.79 million shares and warrants, expecting gross proceeds of approximately $5.75 million.
  • In June 2025, the company completed an underwritten public offering of 21.5 million shares at $0.20 per share, generating approximately $4.3 million in gross proceeds, which increased to approximately $4.52 million after the exercise of an over-allotment option.

Inbound Investments

  • Stardust Power completed a business combination with Global Partner Acquisition Corp II (GPAC II) in July 2024, resulting in an implied pro forma enterprise value of $490 million for the combined entity.
  • In January 2025, a public offering that raised $5.75 million included investment from a large institutional investor.
  • In February 2026, the company secured an Equity Facility with B. Riley Principal Capital II, LLC, providing the ability to raise up to $10.0 million in common equity over 36 months.

Capital Expenditures

  • Stardust Power's primary focus for capital expenditures is the development and construction of its lithium refinery in Muskogee, Oklahoma.
  • The estimated capital expenditure for Phase 1 of the Muskogee refinery is approximately $500 million, which is about $200 million below a prior estimate, and is designed to produce 25,000 metric tons per annum of battery-grade lithium.
  • In the last 12 months, capital expenditures totaled -$3.84 million.

Peer Outperformance in Electrical Components & Equipment

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Share of Electrical Components & Equipment constituents that SDST has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
0%
of 48 industry peers · -95.0% return
3Y
insufficient peer history
5Y
insufficient peer history
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Median price return by industry across the Industrials sector, ranked by 5Y. Electrical Components & Equipment is SDST's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Construction & Engineering 31 10.9%96.8%180.5% CDNL 2493% · FIX 2206% · STRL 1934%
Marine Transportation 5 79.5%63.5%166.9% HOS 46479% · MATX 201% · KEX 167%
Construction Machinery & Heavy Transportation Equipment 13 6.7%60.4%124.0% CAT 319% · ALSN 264% · WAB 223%
Aerospace & Defense 54 -4.4%75.4%72.9% ATI 985% · FTAI 881% · HWM 625%
Rail Transportation 7 30.8%64.5%43.4% FSTR 140% · CSX 68% · UNP 56%
Trading Companies & Distributors 19 5.0%38.9%38.0% DXPE 561% · AIT 288% · WCC 201%
Industrial Machinery & Supplies & Components 72 7.6%43.3%36.4% CRS 1276% · PSIX 919% · GHM 582%
Cargo Ground Transportation 16 34.9%6.4%32.7% XPO 249% · R 240% · CVLG 238%
Passenger Ground Transportation 3 -23.2%39.1%26.3% UBER 81% · CAR 26% · LYFT -70%
Diversified Support Services 33 10.2%29.6%25.3% LIME 3445% · TH 417% · WLFC 351%
Electrical Components & Equipment ← 41 9.4%55.2%19.4% POWL 2263% · BE 1266% · VRT 882%
Building Products 33 -14.6%2.9%17.9% LMB 636% · GFF 375% · PPIH 284%
Industrial Conglomerates 17 7.1%1.9%7.8% RCMT 397% · CSW 133% · CSL 73%
Environmental & Facilities Services 29 -9.4%21.1%-4.0% CECO 875% · NVRI 372% · ADUR 372%
Agricultural & Farm Machinery 17 9.9%6.5%-6.9% BLBD 207% · DE 106% · GENC 47%
Research & Consulting Services 13 -10.3%-23.5%-7.9% HURN 201% · CRAI 91% · GRNQ 57%
Data Processing & Outsourced Services 6 -31.4%-13.1%-23.7% EXLS 47% · BR 10% · G -23%
Passenger Airlines 11 2.1%0.8%-30.0% LTM 3083% · UAL 140% · SKYW 109%
Office Services & Supplies 9 7.0%24.6%-32.0% PBI 200% · TILE 141% · HNI 47%
Human Resource & Employment Services 22 5.8%-19.7%-38.1% BBSI 88% · ADP 56% · PAYX 26%
Air Freight & Logistics 12 -8.2%-22.6%-38.3% CHRW 97% · FDX 65% · EXPD 62%
Security & Alarm Services 10 -30.3%11.4%-39.7% CIX 162% · MG 107% · NL 59%
Airport Services 3 -72.2%-79.7%-58.1% JOBY -29% · ASLE -58% · UP -100%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Stardust Power Earnings Notes12/16/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SDSTLACSLIALBTSLAMedian
NameStardust.Lithium .Standard.AlbemarleTesla  
Mkt Price0.142.812.05113.45356.582.81
Mkt Cap0.01.00.513.41,154.21.0
Rev LTM0-05,908103,6192,954
Op Inc LTM-15--248114,772398
FCF LTM-10-1,079-151,3425,755-10
FCF 3Y Avg--606-35-394,353-37
CFO LTM-8-36-151,80018,685-8
CFO 3Y Avg--37-171,18615,327585

Growth & Margins

SDSTLACSLIALBTSLAMedian
NameStardust.Lithium .Standard.AlbemarleTesla  
Rev Chg LTM---18.3%11.8%15.0%
Rev Chg 3Y Avg----12.5%3.5%-4.5%
Rev Chg Q---31.1%25.5%28.3%
QoQ Delta Rev Chg LTM---7.5%5.9%6.7%
Op Inc Chg LTM37.4%-20.6%456.1%-17.4%29.0%
Op Inc Chg 3Y Avg---31.6%130.9%-26.8%-26.8%
Op Mgn LTM---13.7%4.6%9.2%
Op Mgn 3Y Avg----3.2%6.1%1.5%
QoQ Delta Op Mgn LTM---6.4%-0.8%2.8%
CFO/Rev LTM---30.5%18.0%24.3%
CFO/Rev 3Y Avg---19.7%15.7%17.7%
FCF/Rev LTM---22.7%5.6%14.1%
FCF/Rev 3Y Avg---0.6%4.5%2.5%

Valuation

SDSTLACSLIALBTSLAMedian
NameStardust.Lithium .Standard.AlbemarleTesla  
Mkt Cap0.01.00.513.41,154.21.0
P/S---2.311.16.7
P/Op Inc-0.1--21.216.5241.98.2
P/EBIT-0.1--9.638.8207.919.4
P/E-0.1--10.559.7303.429.8
P/CFO-0.2-29.3-34.37.461.8-0.2
Total Yield-1,119.9%--9.5%3.1%0.3%-4.6%
Dividend Yield0.0%0.0%0.0%1.4%0.0%0.0%
FCF Yield 3Y Avg--67.9%-13.0%-1.8%0.4%-7.4%
D/E2.11.10.00.10.00.1
Net D/E1.80.3-0.30.0-0.00.0

Returns

SDSTLACSLIALBTSLAMedian
NameStardust.Lithium .Standard.AlbemarleTesla  
1M Rtn-79.8%-16.9%-13.9%-16.4%4.2%-16.4%
3M Rtn-92.6%-36.9%-41.6%-31.5%-11.9%-36.9%
6M Rtn-95.2%-37.6%-50.2%-31.4%-10.7%-37.6%
12M Rtn-95.0%-12.2%-33.2%41.6%-13.0%-13.0%
3Y Rtn-99.9%-86.6%-37.1%-35.3%30.0%-37.1%
1M Excs Rtn-77.2%-14.3%-11.3%-13.8%6.8%-13.8%
3M Excs Rtn-93.1%-39.1%-43.0%-33.0%-13.7%-39.1%
6M Excs Rtn-108.5%-49.2%-62.6%-43.0%-23.1%-49.2%
12M Excs Rtn-110.4%-17.0%-44.5%35.8%-25.2%-25.2%
3Y Excs Rtn-170.0%-154.4%-105.5%-105.6%-26.7%-105.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Single Segment000
Total000


Assets by Segment
$ Mil202520242023
Single Segment1293
Total1293


Price Behavior

Price Behavior
Market Price$0.14 
Market Cap ($ Bil)0.0 
First Trading Date07/09/2024 
Distance from 52W High-98.1% 
   50 Days200 Days
DMA Price$0.86$2.41
DMA Trenddowndown
Distance from DMA-84.2%-94.4%
 3M1YR
Volatility154.2%126.4%
Downside Capture507.41410.54
Upside Capture-890.90-10.00
Correlation (SPY)-0.7%24.4%
SDST Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta6.602.401.662.612.650.26
Up Beta12.043.593.402.982.850.58
Down Beta6.609.644.042.793.47-0.16
Up Capture-33%-403%-257%-30%36%3%
Bmk +ve Days10213268138427
Stock +ve Days8152149106223
Down Capture819%542%329%282%191%113%
Bmk -ve Days11213259113324
Stock -ve Days13274176143310

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SDST
SDST-95.2%126.2%-1.78-
Sector ETF (XLI)12.6%17.2%0.5226.5%
Equity (SPY)16.3%12.8%0.9024.7%
Gold (GLD)17.6%29.3%0.5520.5%
Commodities (DBC)48.6%20.6%1.820.4%
Real Estate (VNQ)5.3%13.5%0.136.5%
Bitcoin (BTCUSD)-33.1%43.8%-0.7919.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SDST
SDST-73.4%174.0%-1.02-
Sector ETF (XLI)12.1%17.6%0.5211.4%
Equity (SPY)12.4%17.2%0.5510.0%
Gold (GLD)18.7%18.8%0.807.0%
Commodities (DBC)11.7%19.5%0.47-0.3%
Real Estate (VNQ)0.8%18.9%-0.065.7%
Bitcoin (BTCUSD)10.7%52.5%0.3812.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SDST
SDST-48.4%174.0%-1.02-
Sector ETF (XLI)13.0%20.1%0.5711.4%
Equity (SPY)15.1%18.0%0.7110.0%
Gold (GLD)12.0%16.4%0.607.0%
Commodities (DBC)8.7%18.1%0.39-0.3%
Real Estate (VNQ)4.6%20.7%0.185.7%
Bitcoin (BTCUSD)63.4%66.2%1.0312.6%

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Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 8152026-10.7%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest1.0 days
Basic Shares Quantity11.1 Mil
Short % of Basic Shares3.2%

Earnings Returns History

Updated 8/21/2026
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/18/20260.8%9.2%23.4%
11/13/2024-3.1%-12.2%-30.6%
SUMMARY STATS   
# Positive111
# Negative111
Median Positive0.8%9.2%23.4%
Median Negative-3.1%-12.2%-30.6%
Max Positive0.8%9.2%23.4%
Max Negative-3.1%-12.2%-30.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/18/20260.8%9.2%23.4%
11/13/2024-3.1%-12.2%-30.6%
SUMMARY STATS   
# Positive111
# Negative111
Median Positive0.8%9.2%23.4%
Median Negative-3.1%-12.2%-30.6%
Max Positive0.8%9.2%23.4%
Max Negative-3.1%-12.2%-30.6%

SEC Filings

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Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/14/202610-Q
12/31/202503/25/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
12/31/202303/27/202510-K
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/14/202610-Q
12/31/202503/25/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
12/31/202303/27/202510-K

Insider Activity

Updated 9/11/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Devasper, UdaychandraChief Financial OfficerDirectSell91120260.1649,3157,89012,318Form
2Celano, Chris EdwardChief Operating OfficerDirectSell61720261.956401,248198,399Form
3Devasper, UdaychandraChief Financial OfficerDirectSell61720261.953,5546,930246,289Form
4Pujari, RoshenCEO and ChairmanDirectSell61720261.918611,645958,648Form
5Nangolo, Charlotte NanguloshiDirectSell61220261.7410,00017,40052,203Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Devasper, UdaychandraChief Financial OfficerDirectSell91120260.1649,3157,89012,318Form
2Celano, Chris EdwardChief Operating OfficerDirectSell61720261.956401,248198,399Form
3Devasper, UdaychandraChief Financial OfficerDirectSell61720261.953,5546,930246,289Form
4Pujari, RoshenCEO and ChairmanDirectSell61720261.918611,645958,648Form
5Nangolo, Charlotte NanguloshiDirectSell61220261.7410,00017,40052,203Form
6Cortegoso, PabloChief Technical OfficerDirectSell60320262.2644,452100,4621,325,687Form
7Pujari, RoshenCEO and ChairmanDirectSell52820262.18102,427223,2911,096,041Form
8Devasper, UdaychandraChief Financial OfficerDirectSell52120262.0335,77672,625246,870Form
9Celano, Chris EdwardChief Operating OfficerDirectSell52120262.0525,97553,249209,885Form
10Pujari, RoshenCEO and ChairmanDirectSell32420262.311,1322,6151,398,007Form
11Devasper, UdaychandraChief Financial OfficerDirectSell32420262.314,50710,411363,564Form
12Czachor, BruceGC, CCO and SecretaryDirectSell32420262.2917,65540,43051,170Form
13Cortegoso, PabloChief Technical OfficerDirectSell32420262.292906641,445,079Form
14Celano, Chris EdwardChief Operating OfficerDirectSell32420262.323,4578,020297,791Form
15Nangolo, Charlotte NanguloshiDirectSell121720253.446,02020,691137,487Form
16Pujari, RoshenCEO and ChairmanDirectSell121720253.519533,3451,274,878Form
17Devasper, UdaychandraChief Financial OfficerDirectSell121720253.493,92713,690239,000Form
18Cortegoso, PabloChief Technical OfficerDirectSell121720253.462418341,731,453Form
19Nangolo, Charlotte NanguloshiDirectSell92320252.719422,554124,770Form
20Devasper, UdaychandraChief Financial OfficerDirectSell91620252.663,87010,298170,949Form
21Pujari, RoshenCEO and ChairmanDirectSell91620252.669402,500968,682Form
Core Cache Last Updated: 9/15/2026