Tron (TRON)
Market Price (10/7/2026): $1.28 | Market Cap: $601.9 MilSector: Consumer Discretionary | Industry: Leisure Facilities
Tron (TRON)
Market Price (10/7/2026): $1.28Market Cap: $601.9 MilSector: Consumer DiscretionaryIndustry: Leisure Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Fintech & Digital Payments. Themes include Blockchain Enterprise Solutions, and Digital Payments. | Weak multi-year price returns2Y Excs Rtn is -117%, 3Y Excs Rtn is -162% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -2.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -45% Expensive valuation multiplesP/SPrice/Sales ratio is 120x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 66x, P/EPrice/Earnings or Price/(Net Income) is 88x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.3% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -44% 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 -2.7% High stock price volatilityVol 12M is 103% Key risksTRON key risks include [1] regulatory scrutiny highlighted by SEC charges against its founder, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Fintech & Digital Payments. Themes include Blockchain Enterprise Solutions, and Digital Payments. |
| Weak multi-year price returns2Y Excs Rtn is -117%, 3Y Excs Rtn is -162% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -2.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -45% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 120x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 66x, P/EPrice/Earnings or Price/(Net Income) is 88x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.3% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -44% |
| 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 -2.7% |
| High stock price volatilityVol 12M is 103% |
| Key risksTRON key risks include [1] regulatory scrutiny highlighted by SEC charges against its founder, Show more. |
Qualitative Assessment
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Tron (TRON) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Significant Decline in Fiscal Q2 2026 Earnings.
TRON reported a substantial downturn in its fiscal Q2 2026 earnings, announced on August 11, 2026. The company's earnings for the quarter were $2.9 million, representing an 86.7% decrease from the previous fiscal quarter, with an Earnings Per Share (EPS) of $0.01. This sharp drop in profitability served as a direct negative catalyst for investor sentiment.
2. Heightened Regulatory Scrutiny and Sanctions.
The TRON network faced increased regulatory pressure, notably with the U.S. Treasury sanctioning seven TRON addresses on September 30, 2026, due to their alleged connection to illicit activities, specifically ATM thefts by a criminal group. This event was explicitly identified as "bearish for TRON's reputation in the short term." Furthermore, a Senate report highlighted that 84% of Iran-linked crypto wallets utilized Tether (USDT), a dominant stablecoin on TRON's network, which could invite further regulatory oversight.
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Tron (TRON) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Significant Decline in Fiscal Q2 2026 Earnings.
TRON reported a substantial downturn in its fiscal Q2 2026 earnings, announced on August 11, 2026. The company's earnings for the quarter were $2.9 million, representing an 86.7% decrease from the previous fiscal quarter, with an Earnings Per Share (EPS) of $0.01. This sharp drop in profitability served as a direct negative catalyst for investor sentiment.
2. Heightened Regulatory Scrutiny and Sanctions.
The TRON network faced increased regulatory pressure, notably with the U.S. Treasury sanctioning seven TRON addresses on September 30, 2026, due to their alleged connection to illicit activities, specifically ATM thefts by a criminal group. This event was explicitly identified as "bearish for TRON's reputation in the short term." Furthermore, a Senate report highlighted that 84% of Iran-linked crypto wallets utilized Tether (USDT), a dominant stablecoin on TRON's network, which could invite further regulatory oversight.
3. Broader Cryptocurrency Market Weakness and Macroeconomic Factors.
TRON's stock movement was influenced by a general downturn in the broader cryptocurrency market during fiscal Q3 2026. This market weakness was exacerbated by macroeconomic concerns, including hawkish Federal Reserve interest rate expectations and rising Treasury yields, which typically lead to a risk-off environment for speculative assets like cryptocurrencies.
4. Sustained Technical Price Breakdown.
Throughout fiscal Q3 2026, TRX experienced a consistent downward trend, evidenced by a loss of a key trendline that had been in place since February. The token's price declined from a July peak near $0.43 to trade around $0.3343 by September 30, 2026, reflecting persistent selling pressure and a challenging technical outlook for the asset.
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Stock Movement Drivers
Fundamental Drivers
The -19.9% change in TRON stock from 6/30/2026 to 10/6/2026 was primarily driven by a -41.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 6302026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.61 | 1.29 | -19.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | 4.7% |
| Net Income Margin (%) | 113.0% | 135.6% | 20.0% |
| P/E Multiple | 80.9 | 88.4 | 9.2% |
| Shares Outstanding (Mil) | 275 | 470 | -41.6% |
| Cumulative Contribution | -19.9% |
Market Drivers
6/30/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TRON | -19.9% | |
| Market (SPY) | 4.3% | 18.2% |
| Sector (XLY) | -4.7% | 12.8% |
Fundamental Drivers
The -43.2% change in TRON stock from 3/31/2026 to 10/6/2026 was primarily driven by a -44.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.27 | 1.29 | -43.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | 6.8% |
| P/S Multiple | 125.1 | 119.9 | -4.2% |
| Shares Outstanding (Mil) | 261 | 470 | -44.4% |
| Cumulative Contribution | -43.2% |
Market Drivers
3/31/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TRON | -43.2% | |
| Market (SPY) | 20.1% | 12.9% |
| Sector (XLY) | 2.7% | 8.1% |
Fundamental Drivers
The -33.2% change in TRON stock from 9/30/2025 to 10/6/2026 was primarily driven by a -95.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302025 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.93 | 1.29 | -33.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 5 | 19.7% |
| P/S Multiple | 9.8 | 119.9 | 1117.5% |
| Shares Outstanding (Mil) | 22 | 470 | -95.4% |
| Cumulative Contribution | -33.2% |
Market Drivers
9/30/2025 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TRON | -33.2% | |
| Market (SPY) | 17.9% | 27.3% |
| Sector (XLY) | -6.2% | 22.1% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TRON | ||
| Market (SPY) | 88.5% | 25.7% |
| Sector (XLY) | 42.0% | 21.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TRON Return | - | - | - | - | -81% | 9% | -79% |
| Peers Return | 29% | -17% | 17% | 24% | -14% | -5% | 27% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 107% |
Monthly Win Rates [3] | |||||||
| TRON Win Rate | - | - | - | - | 33% | 50% | |
| Peers Win Rate | 50% | 42% | 52% | 55% | 43% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TRON Max Drawdown | - | - | - | - | - | -50% | |
| Peers Max Drawdown | -26% | -43% | -39% | -21% | -41% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FUN, LTH, PLNT, OSW, PRKS.
[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 10/6/2026 (YTD)
How Low Can It Go
TRON has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.8% | -18.8% |
| % Gain to Breakeven | 27.9% | 23.1% |
| Time to Breakeven | 105 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.2% | -7.8% |
| % Gain to Breakeven | 12.6% | 8.5% |
| Time to Breakeven | 37 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.6% | -9.5% |
| % Gain to Breakeven | 15.8% | 10.5% |
| Time to Breakeven | 42 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.9% | -24.5% |
| % Gain to Breakeven | 56.0% | 32.4% |
| Time to Breakeven | 874 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.9% | -33.7% |
| % Gain to Breakeven | 51.3% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.6% | -19.2% |
| % Gain to Breakeven | 24.4% | 23.8% |
| Time to Breakeven | 98 days | 105 days |
In The Past
State Street Consumer Discretionary Select Sector SPDR ETF's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.
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TRON has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.8% | -18.8% |
| % Gain to Breakeven | 27.9% | 23.1% |
| Time to Breakeven | 105 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.9% | -24.5% |
| % Gain to Breakeven | 56.0% | 32.4% |
| Time to Breakeven | 874 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.9% | -33.7% |
| % Gain to Breakeven | 51.3% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.0% | -53.4% |
| % Gain to Breakeven | 104.3% | 114.4% |
| Time to Breakeven | 372 days | 1085 days |
In The Past
State Street Consumer Discretionary Select Sector SPDR ETF's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Tron (TRON)
Tron, operating under the name SRM, is a specialized designer, developer, and supplier of licensed toys and souvenirs for the entertainment and amusement park industry. With over 30 years of experience, the company creates whimsical, fun, and unique products that enable fans to express their affinity for various pop culture content, including movies, TV shows, and characters. SRM's business model thrives on fan loyalty, positioning itself at the intersection of content providers, retailers, and consumers by consistently delivering distinct, stylized merchandise.
The company's diverse product portfolio spans categories such as figures, plush, accessories, apparel, and homewares. SRM holds licensing relationships with established content providers like Smurfs and Zoonicorn LLC, and also produces items based on classic franchises such as Harry Potter and Star Wars. These products are generally priced between $2.50 and $50.00, making them accessible for a broad consumer base to make frequent and impulsive purchases, thus fostering deeper fan engagement. SRM employs a nimble, low-fixed-cost production model, allowing it to respond dynamically to both current pop culture trends and timeless content.
Tron's primary market comprises the world's largest theme parks and entertainment venues, including Walt Disney Parks and Resorts, Universal Studios, SeaWorld, Six Flags, and Merlin Entertainment. These retail customers value SRM's customized product mixes and its ability to attract consumers with exclusive pop culture merchandise. Ultimately, SRM serves a wide array of consumers across all demographics—men, women, boys, and girls—who are looking for distinctive ways to engage with and express their passion for their favorite pop culture content, often evolving from occasional buyers into dedicated enthusiasts and collectors.
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Imagine a specialized Funko, but one that primarily designs and supplies exclusive licensed toys and souvenirs directly to major theme parks and entertainment venues.
They're like the silent partners behind the gift shops at major amusement parks, creating all the unique, licensed pop culture merchandise you can only buy there.
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Based on the provided description of SRM, the company sells primarily to other companies, specifically major theme parks, entertainment venues, and retailers. These entities then sell SRM's products to individual consumers.
The major customer companies identified are:
- Walt Disney Parks and Resorts (part of The Walt Disney Company, Symbol: DIS)
- Universal Studios (part of Comcast Corporation, Symbol: CMCSA)
- SeaWorld (Symbol: SEAS)
- Six Flags (Symbol: SIX)
- Great Wolf Lodge (Private company)
- Dollywood (Private company)
- Merlin Entertainment (Private company)
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The key risks for Tron (symbol: TRON) are primarily centered around its reliance on licensing agreements, its specialized retail channels, and the dynamic nature of consumer preferences in the pop culture merchandise market.
- Dependence on Licensing Relationships and Pop Culture Trends: Tron's business model is built upon creating products based on intellectual property (IP) from various content providers. The company's success is directly tied to its ability to secure and maintain licensing agreements for popular movies, TV shows, celebrities, and other cultural phenomena. A significant risk lies in the potential for a decline in the popularity of licensed content, the inability to acquire new and trending licenses, or adverse changes in existing licensing terms. Such events could severely impact product relevance and revenue streams. The company explicitly states that content providers value them for their network of retail customers and that they balance current content releases with timeless classics like Harry Potter or Star Wars.
- Reliance on Specialized Retail Channels: Tron primarily sells its merchandise into "the world’s largest theme parks and entertainment venues," including Walt Disney Parks and Resorts, Universal Studios, SeaWorld, Six Flags, Great Wolf Lodge, Dollywood, and Merlin Entertainment. This concentrated distribution strategy means the company is susceptible to risks associated with these specific retail channels. Economic downturns affecting the tourism and entertainment industries, shifts in purchasing strategies by these major venues, or reduced consumer attendance at such locations could directly and negatively impact Tron's sales volume and profitability.
- Competition and Shifting Consumer Preferences: The market for pop culture merchandise is highly competitive and driven by rapidly evolving consumer tastes. Tron must continuously innovate and create "whimsical, fun and unique products" that resonate with a broad array of fans across various demographic groups. A failure to anticipate or adapt to changing consumer preferences, or intense competition from other merchandise designers and manufacturers, could lead to decreased demand for its products, loss of market share, and reduced sales. The company emphasizes its continuous introduction of innovative products to facilitate fan engagement.
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The rise of digital collectibles and non-fungible tokens (NFTs) presents a clear emerging threat to SRM's business model. SRM specializes in creating physical toys and souvenirs that allow fans to express their affinity for pop culture content and collect unique, stylized products. Digital collectibles, like NFTs, offer an alternative, new medium for fans to express their fandom, own unique intellectual property extensions, and engage with content in virtual spaces. This technological shift could divert consumer interest and spending from physical merchandise to digital assets, analogous to how Netflix provided a new way to consume entertainment, threatening Blockbuster's physical rental model, or how the iPhone created a new paradigm for mobile interaction beyond traditional devices like BlackBerry.
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The addressable markets for Tron (SRM), a designer and developer of licensed toys and souvenirs for theme parks and entertainment venues, include the global licensed merchandise market, the global attraction souvenir retail market, and the global pop culture market for merchandise and collectibles.
The global licensed merchandise market was estimated at USD 361.55 billion in 2025 and is projected to grow to USD 676.37 billion by 2034, expanding at a Compound Annual Growth Rate (CAGR) of 7.21% from 2026 to 2034. North America held a significant share, accounting for 58.7% of the global licensed merchandise market revenue in 2025. Apparel represents a leading segment within licensed merchandise.
The global attraction souvenir retail market was valued at USD 24.6 billion in 2025 and is projected to expand to USD 42.3 billion by 2034, with a CAGR of 6.2% from 2026 to 2034. This market specifically includes merchandise sold at tourist destinations, theme parks, and entertainment venues. Theme parks and entertainment resorts contributed approximately 41.2% of the total attraction souvenir retail revenue in 2025. North America led this market, generating USD 8.1 billion in revenue in 2025, which was 32.9% of the global share.
The global pop culture market, which includes merchandise and collectibles, was valued at USD 245 billion in 2025. It is expected to grow to USD 490 billion by 2033, registering a CAGR of 9.1% during the forecast period from 2026 to 2033. This market monetizes cultural influence through various channels, with merchandise and collectibles being a strong revenue driver by leveraging fan loyalty.
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Expected Drivers of Future Revenue Growth for SRM (described company in background)
Based on the provided company description for SRM, the following are expected drivers of future revenue growth over the next 2-3 years:
- Expansion of Licensed Intellectual Properties: SRM's business model is deeply rooted in pop culture and fan loyalty, relying on licensing relationships with content providers. Securing new licenses for popular movies, TV shows, and characters, beyond current agreements with entities like Smurfs and Zoonicorn LLC, will enable the creation of new product lines and tap into wider fan bases, directly contributing to revenue growth.
- Deepening Penetration within Existing Entertainment Venues: The company's products are sold into major theme parks and entertainment venues such as Walt Disney Parks and Resorts, Universal Studios, and SeaWorld. The description indicates that these venues are "continuing to dedicate space" to SRM's products and the pop culture category. Increased dedicated retail space, enhanced product placement, and potentially higher visitor traffic to these established customer bases will drive greater sales volume within existing channels.
- Continuous Introduction of New and Innovative Products and Designs: SRM emphasizes its ability to "introduce innovative products designed to facilitate fan engagement" and its practice of regularly refreshing products to create a "treasure hunt" experience for consumers. Ongoing product development across various categories (figures, plush, accessories, apparel, homewares) with distinct designs ensures offerings remain fresh, align with current pop culture trends, and encourage repeat purchases, thus sustaining and growing revenue.
- Capitalizing on the Broadening and Deepening of Pop Culture Fandom: The company explicitly states that "the evolution of pop culture is leading to increasing opportunities for fan loyalty" and that "Pop culture pervades modern life." As more quality content becomes accessible and fan engagement intensifies across diverse demographics, the overall market for products that allow fans to express their affinity grows. SRM is strategically positioned to benefit from this expanding market trend, driving demand for its specialized products.
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Peer Outperformance in Leisure Facilities
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -15.0% | 76.8% | 75.3% | CVSA 234% · LINC 227% · PRDO 205% |
| Homebuilding | 18 | -8.9% | 38.0% | 54.8% | GRBK 220% · PHM 155% · TOL 154% |
| Specialty Stores | 7 | -1.4% | 40.1% | 12.7% | ASO 30% · DKS 27% · SIG 25% |
| Hotels, Resorts & Cruise Lines | 21 | 4.9% | 32.3% | 10.3% | RCL 236% · MAR 139% · LIND 138% |
| Home Improvement Retail | 5 | -24.3% | -2.3% | -3.6% | HVT 14% · LOW -3% · HD -4% |
| Automotive Retail | 18 | -16.4% | 0.7% | -3.7% | MUSA 215% · PAG 118% · ORLY 109% |
| Footwear | 9 | 63.8% | 55.4% | -13.8% | WEYS 200% · DECK 30% · SHOO 22% |
| Home Furnishings | 4 | -5.0% | 30.5% | -15.8% | SGI 44% · LZB -1% · MHK -30% |
| Distributors | 4 | -14.3% | -26.3% | -16.5% | ARMK 122% · GPC 17% · LKQ -50% |
| Restaurants | 36 | -9.7% | -8.1% | -16.8% | EAT 278% · CAKE 161% · BH-A 121% |
| Specialized Consumer Services | 10 | -17.5% | 15.0% | -17.3% | HRB 98% · FTDR 86% · SCI 33% |
| Leisure Products | 13 | -20.3% | -21.4% | -39.2% | GOLF 81% · HAS 25% · MAT -17% |
| Household Appliances | 18 | 11.3% | -1.6% | -39.9% | FLXS 217% · HBB 175% · KEQU 159% |
| Apparel Retail | 26 | 5.1% | 22.9% | -40.6% | ANF 259% · URBN 170% · TJX 127% |
| Automotive Parts & Equipment | 38 | -12.4% | -7.9% | -41.5% | MOD 1527% · GTX 272% · MLR 73% |
| Computer & Electronics Retail | 3 | -1.2% | 42.8% | -42.5% | BBY 0% · GME -42% · UPBD -63% |
| Leisure Facilities ← | 12 | 5.5% | -8.8% | -43.3% | JAKK 158% · LTH 127% · OSW 120% |
| Apparel, Accessories & Luxury Goods | 29 | -7.6% | 15.9% | -46.7% | TPR 247% · RL 247% · ELA 198% |
| Broadline Retail | 13 | -4.9% | 26.7% | -47.6% | EBAY 58% · AMZN 55% · OLLI 41% |
| Casinos & Gaming | 20 | -16.4% | -24.2% | -47.8% | MCRI 94% · RRR 20% · BYD 14% |
| Consumer Electronics | 11 | -18.6% | -17.0% | -71.1% | AXIL 3426% · GRMN 97% · SONO -46% |
| Other Specialty Retail | 17 | -37.0% | -40.5% | -77.2% | TLF 102% · BBW 83% · WINA 63% |
| Automobile Manufacturers | 8 | -78.7% | -51.4% | -77.7% | GM 52% · TSLA 44% · F 12% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 28.07 |
| Mkt Cap | 2.0 |
| Rev LTM | 1,528 |
| Op Inc LTM | 300 |
| FCF LTM | 114 |
| FCF 3Y Avg | 55 |
| CFO LTM | 422 |
| CFO 3Y Avg | 382 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.3% |
| Rev Chg 3Y Avg | 11.6% |
| Rev Chg Q | 7.8% |
| QoQ Delta Rev Chg LTM | 1.9% |
| Op Inc Chg LTM | 29.4% |
| Op Inc Chg 3Y Avg | 17.6% |
| Op Mgn LTM | 13.4% |
| Op Mgn 3Y Avg | 12.5% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 20.1% |
| CFO/Rev 3Y Avg | 19.9% |
| FCF/Rev LTM | 6.3% |
| FCF/Rev 3Y Avg | 5.0% |
Price Behavior
| Market Price | $1.29 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 08/15/2023 | |
| Distance from 52W High | -68.8% | |
| 50 Days | 200 Days | |
| DMA Price | $1.58 | $4.33 |
| DMA Trend | down | indeterminate |
| Distance from DMA | -18.1% | -70.2% |
| 3M | 1YR | |
| Volatility | 81.0% | 103.4% |
| Downside Capture | 306.98 | 304.20 |
| Upside Capture | 153.96 | 156.27 |
| Correlation (SPY) | 20.1% | 28.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.97 | 1.72 | 1.49 | 1.00 | 2.31 | 0.25 |
| Up Beta | 4.41 | -1.89 | -0.75 | -0.87 | 1.17 | 0.21 |
| Down Beta | 5.63 | -2.92 | 0.36 | 0.93 | 2.92 | 0.53 |
| Up Capture | -36% | 377% | 233% | 88% | 325% | 41% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 19 | 30 | 52 | 107 | 123 |
| Down Capture | 487% | 334% | 266% | 224% | 172% | 110% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 12 | 19 | 30 | 68 | 135 | 174 |
[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 TRON | |
|---|---|---|---|---|
| TRON | -55.7% | 103.2% | -0.33 | - |
| Sector ETF (XLY) | -5.5% | 19.5% | -0.42 | 24.8% |
| Equity (SPY) | 17.5% | 13.0% | 0.96 | 28.7% |
| Gold (GLD) | 6.9% | 29.6% | 0.23 | 16.8% |
| Commodities (DBC) | 46.1% | 20.8% | 1.71 | 4.5% |
| Real Estate (VNQ) | 2.1% | 13.7% | -0.10 | 12.9% |
| Bitcoin (BTCUSD) | -29.8% | 44.3% | -0.67 | 46.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TRON | |
|---|---|---|---|---|
| TRON | -27.6% | 123.8% | -0.51 | - |
| Sector ETF (XLY) | 5.0% | 24.1% | 0.16 | 21.2% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 25.7% |
| Gold (GLD) | 18.7% | 18.9% | 0.80 | 10.0% |
| Commodities (DBC) | 10.3% | 19.5% | 0.40 | 3.3% |
| Real Estate (VNQ) | 1.2% | 18.8% | -0.04 | 8.4% |
| Bitcoin (BTCUSD) | 16.0% | 52.2% | 0.47 | 39.5% |
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 TRON | |
|---|---|---|---|---|
| TRON | -14.9% | 123.8% | -0.51 | - |
| Sector ETF (XLY) | 12.1% | 22.2% | 0.50 | 21.2% |
| Equity (SPY) | 15.6% | 17.9% | 0.74 | 25.7% |
| Gold (GLD) | 11.6% | 16.4% | 0.58 | 10.0% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 3.3% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 8.4% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 39.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/2/2026| 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 | |||
| 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 |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/25/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 10/03/2023 | 10-Q |
| 03/31/2023 | 05/26/2023 | S-1 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/25/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 10/03/2023 | 10-Q |
| 03/31/2023 | 05/26/2023 | S-1 |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Melton, Christopher | Direct | Sell | 8282025 | 5.06 | 15,000 | 75,900 | 160,999 | Form | |
| 2 | McKinnon, Douglas O | Chief Financial Officer | Direct | Sell | 7032025 | 7.39 | 122,000 | 901,380 | 2,337,589 | Form |
| 3 | McDaniel-Hand, Deborah Lynn | VP of Production Development | Direct | Sell | 6252025 | 9.41 | 100,000 | 941,000 | 941,000 | Form |
| 4 | Miller, Richard A | Chief Executive Officer | Direct | Sell | 6242025 | 11.19 | 100,000 | 1,119,260 | 6,715,560 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Melton, Christopher | Direct | Sell | 8282025 | 5.06 | 15,000 | 75,900 | 160,999 | Form | |
| 2 | McKinnon, Douglas O | Chief Financial Officer | Direct | Sell | 7032025 | 7.39 | 122,000 | 901,380 | 2,337,589 | Form |
| 3 | McDaniel-Hand, Deborah Lynn | VP of Production Development | Direct | Sell | 6252025 | 9.41 | 100,000 | 941,000 | 941,000 | Form |
| 4 | Miller, Richard A | Chief Executive Officer | Direct | Sell | 6242025 | 11.19 | 100,000 | 1,119,260 | 6,715,560 | Form |
Tron — Investor Video Playlist
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Leisure Facilities Resources |
| Blooloop |
| Attractions Management |
| IAAPA |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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