Z Squared (ZSQR)


Market Price (10/17/2026): $4.04 | Market Cap: $201.0 MilSector: Information Technology | Industry: Systems Software

Z Squared (ZSQR)


Market Price (10/17/2026): $4.04
Market Cap: $201.0 Mil
Sector: Information Technology
Industry: Systems Software

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

0

Megatrend and thematic drivers
Megatrends include Cybersecurity, and Cloud Computing. Themes include Cloud Security, Network Security, Show more.

Weak multi-year price returns
2Y Excs Rtn is -108%, 3Y Excs Rtn is -152%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1215%

Expensive valuation multiples
P/SPrice/Sales ratio is 114x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 434%

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 -14%

High stock price volatility
Vol 12M is 140%

Key risks
ZSQR key risks include [1] failing to complete a business combination, Show more.

0 Megatrend and thematic drivers
Megatrends include Cybersecurity, and Cloud Computing. Themes include Cloud Security, Network Security, Show more.
1 Weak multi-year price returns
2Y Excs Rtn is -108%, 3Y Excs Rtn is -152%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -21 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1215%
3 Expensive valuation multiples
P/SPrice/Sales ratio is 114x
4 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 434%
5 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 -14%
6 High stock price volatility
Vol 12M is 140%
7 Key risks
ZSQR key risks include [1] failing to complete a business combination, Show more.

ZSQR in ETFs

Weight = ZSQR's share of each fund

VTI0.00%
IWM0.01%
IWO0.02%
VTWO0.00%
DFAS0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/16/2026

Z Squared (ZSQR) stock has lost about 60% since 6/30/2026 because of the following key factors:

1. Continued Significant Net Losses and Negative Financial Performance in Fiscal Q2 2026. Z Squared reported a net loss of $13,794,745 for fiscal Q2 2026, which ended June 30, 2026. This followed a trailing 12-month net loss of $22.0 million for the period ending June 30, 2026. Analysts forecast a net loss of $9,190,269 for the full fiscal year 2026, with the company's revenue in 2026 being $2,796,746. The gross margin for the trailing 12 months stood at -429.84%. This consistent and substantial unprofitability likely contributed significantly to investor concern and the stock's decline from $5.45 on July 17, 2026, to a 52-week low of $2.11 on September 14, 2026.

2. Uncertainty and Removal of Potential Equity Financing Capacity. On July 17, 2026, Z Squared terminated its $300 million at-the-market sales agreement and a $50 million Committed Equity Forward Purchase Agreement, eliminating access to up to $350 million in potential equity financing. While the company stated this move was to address perceived dilution concerns and cited approximately two years of operating runway from existing capital, the removal of these funding avenues likely raised investor questions about future capital raising capabilities, especially for a company with ongoing losses and significant infrastructure plans.

Show more
Updated on 10/16/2026

Z Squared (ZSQR) stock has lost about 60% since 6/30/2026 because of the following key factors:

1. Continued Significant Net Losses and Negative Financial Performance in Fiscal Q2 2026. Z Squared reported a net loss of $13,794,745 for fiscal Q2 2026, which ended June 30, 2026. This followed a trailing 12-month net loss of $22.0 million for the period ending June 30, 2026. Analysts forecast a net loss of $9,190,269 for the full fiscal year 2026, with the company's revenue in 2026 being $2,796,746. The gross margin for the trailing 12 months stood at -429.84%. This consistent and substantial unprofitability likely contributed significantly to investor concern and the stock's decline from $5.45 on July 17, 2026, to a 52-week low of $2.11 on September 14, 2026.

2. Uncertainty and Removal of Potential Equity Financing Capacity. On July 17, 2026, Z Squared terminated its $300 million at-the-market sales agreement and a $50 million Committed Equity Forward Purchase Agreement, eliminating access to up to $350 million in potential equity financing. While the company stated this move was to address perceived dilution concerns and cited approximately two years of operating runway from existing capital, the removal of these funding avenues likely raised investor questions about future capital raising capabilities, especially for a company with ongoing losses and significant infrastructure plans.

3. High Costs and Lack of Immediate Revenue Generation from AI Infrastructure Shift. Z Squared announced a strategic shift towards AI infrastructure and data centers, including the acquisition of Paradox Data's Union County Campus, which closed on September 9, 2026, for no cash or debt. Despite this strategic pivot, the company's financial results for fiscal Q2 2026 showed that 88% of its revenue still originated from Dogecoin mining and 12% from Litecoin mining, indicating a reliance on its legacy crypto mining operations. Analysts project $0 in revenue from the new AI ventures for fiscal year 2026. The substantial investments and operational costs associated with this transition, without a corresponding increase in revenue from the new business lines, likely fueled investor skepticism regarding the company's near-term profitability and growth prospects.

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Stock Movement Drivers

Fundamental Drivers

The -61.9% change in ZSQR stock from 6/30/2026 to 10/16/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)630202610162026Change
Stock Price ($)10.584.04-61.9%
Change Contribution By: 
Total Revenues ($ Mil)0�0.0%
P/S Multiple361.3�0.0%
Shares Outstanding (Mil)660.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/16/2026
ReturnCorrelation
ZSQR-61.9% 
Market (SPY)2.2%13.6%
Sector (XLK)-3.7%8.9%

Fundamental Drivers

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Market Drivers

3/31/2026 to 10/16/2026
ReturnCorrelation
ZSQR  
Market (SPY)17.7%12.8%
Sector (XLK)38.2%9.3%

Fundamental Drivers

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Market Drivers

9/30/2025 to 10/16/2026
ReturnCorrelation
ZSQR  
Market (SPY)15.5%12.8%
Sector (XLK)30.7%9.3%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/16/2026
ReturnCorrelation
ZSQR  
Market (SPY)84.7%12.8%
Sector (XLK)127.8%9.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ZSQR Return------72%-72%
Peers Return2996%-77%413%49%42%-2%7376%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
ZSQR Win Rate-----57% 
Peers Win Rate50%40%65%45%58%40% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ZSQR Max Drawdown------ 
Peers Max Drawdown-69%-86%-58%-65%-60%-51% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: APLD, RIOT, MARA, CLSK, CORZ.
[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 10/16/2026 (YTD)

How Low Can It Go

ZSQR has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

EventXLKS&P 500
2025 US Tariff Shock
  % Loss-25.7%-18.8%
  % Gain to Breakeven34.5%23.1%
  Time to Breakeven65 days79 days
2024 Yen Carry Trade Unwind
  % Loss-17.0%-7.8%
  % Gain to Breakeven20.4%8.5%
  Time to Breakeven92 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-10.0%-9.5%
  % Gain to Breakeven11.2%10.5%
  Time to Breakeven15 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.5%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-31.2%-33.7%
  % Gain to Breakeven45.2%50.9%
  Time to Breakeven78 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.8%-19.2%
  % Gain to Breakeven31.2%23.8%
  Time to Breakeven100 days105 days

Compare to APLD, RIOT, MARA, CLSK, CORZ

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% 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.

ZSQR has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

EventXLKS&P 500
2025 US Tariff Shock
  % Loss-25.7%-18.8%
  % Gain to Breakeven34.5%23.1%
  Time to Breakeven65 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.5%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-31.2%-33.7%
  % Gain to Breakeven45.2%50.9%
  Time to Breakeven78 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.8%-19.2%
  % Gain to Breakeven31.2%23.8%
  Time to Breakeven100 days105 days
2008-2009 Global Financial Crisis
  % Loss-51.5%-53.4%
  % Gain to Breakeven106.2%114.4%
  Time to Breakeven797 days1085 days

Compare to APLD, RIOT, MARA, CLSK, CORZ

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% 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 Z Squared (ZSQR)

Z Squared (ZSQR), officially known as Bull Horn Holdings Corp., functions as a Special Purpose Acquisition Company (SPAC). Its primary business model involves raising capital through an initial public offering with the explicit intent of identifying and executing a business combination. This combination could take various forms, such as a merger, capital stock exchange, asset acquisition, stock purchase, or reorganization, with one or more private operating businesses.

As a SPAC, Z Squared does not offer traditional products or services; its core "service" is the successful acquisition itself, which provides a pathway for a private company to become publicly traded. The company specifically targets businesses within the sports, entertainment, and brands sectors. Its primary "customers" include the investors who fund the SPAC's search and the private companies in its target sectors looking for an alternative route to public market access.

AI Analysis | Feedback

Here are 1-3 brief analogies for Z Squared (ZSQR):
  1. Imagine a company like CAA or IMG, but instead of finding individual athletes or artists, Z Squared is searching for an entire private company in the sports, entertainment, or brands sector to acquire and take public.
  2. It’s like a targeted investment fund, akin to a small venture capital firm, whose sole purpose is to acquire a private company in sports, entertainment, or brands and bring it to the public stock market.
  3. Think of it as a ‘headhunter’ for private companies in the sports, entertainment, and brands industries, seeking out a suitable target to acquire and bring to the public stock market.

AI Analysis | Feedback

  • Business Combination Services: Z Squared's primary activity is to identify, acquire, and complete a merger, asset acquisition, or similar business combination with one or more target businesses in the sports, entertainment, and brands sectors.

AI Analysis | Feedback

Based on the provided description, Z Squared (ZSQR), operating as Bull Horn Holdings Corp., is a Special Purpose Acquisition Company (SPAC). Its stated purpose is to identify and effect a merger, acquisition, or similar business combination with one or more target businesses in the sports, entertainment, and brands sectors.

As a SPAC in this operational phase, Z Squared does not sell products or services to generate revenue from external customers in the traditional sense. Therefore, it does not have major customers to identify.

AI Analysis | Feedback

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AI Analysis | Feedback

David Halabu, Co-Chief Executive Officer

David Halabu focuses on capital markets, real estate, and asset acquisition for Z Squared. He began his career as a trader at Broadway Trading in New York City and later headed a trading desk for Assent LLC. In 2013, he co-founded Group 10, initially investing in non-performing real estate debt, which expanded into real estate, medical investments, lending, and non-correlated alternatives. He previously sold a backend software that he co-developed for over seven figures in 2001.

Michelle Burke, Co-Chief Executive Officer

Michelle Burke leads the operating execution for Z Squared, encompassing power procurement, site development, hardware deployment, infrastructure readiness, and high-density compute operations. She has served as the company's Chief Operating Officer since its inception and possesses hands-on experience in multi-site infrastructure operations.

Brian Cogley, Chief Financial Officer

Brian Cogley is the Chief Financial Officer for Z Squared Inc.

Ryan Schadel, Chief Marketing Officer

Ryan Schadel is responsible for Z Squared's brand, investor, and capital markets communications. He brings nearly two decades of experience in public markets and currently serves as the Chief Executive Officer of Metavesco, Inc., a digital platform developer for OTC traded companies. He was also previously the President and CEO of Labor Smart, Inc. ($LTNC).

Daniel Yerace, Vice President of Operations

Daniel Yerace serves as the Vice President of Operations for Z Squared Inc.

AI Analysis | Feedback

Z Squared, trading under the symbol ZSQR, faces significant risks inherent to its business model as a Special Purpose Acquisition Company (SPAC) that intends to effect a business combination. The primary objective of such a company is to merge with or acquire an operating business in the sports, entertainment, and brands sectors within a predetermined timeframe. The key risks to Z Squared's business include:
  1. Failure to complete a business combination: The most critical risk is the inability to identify and successfully complete a merger or acquisition with a target company within the specified deadline. If Z Squared fails to do so, it would be forced to liquidate, returning the funds held in trust to its public shareholders, typically at or near the initial public offering price, which would mean shareholders would not realize any potential upside from a successful business combination.
  2. Competition for acquisition targets and valuation pressure: The market for attractive acquisition targets within the sports, entertainment, and brands sectors is highly competitive. Z Squared competes with numerous other SPACs, private equity firms, and corporate buyers for suitable businesses. This intense competition can make it challenging to identify a desirable target or may lead to acquiring a company at an inflated valuation, which could negatively impact the combined entity's performance and shareholder value post-merger.
  3. Shareholder redemptions and capital shortfalls: Public shareholders of Z Squared have the right to redeem their shares for cash from the company's trust account, typically prior to the completion of a business combination. High redemption rates can significantly deplete the capital available for the merger, potentially jeopardizing the transaction, reducing the size or attractiveness of the deal, or forcing the company to seek additional, potentially dilutive, financing.

AI Analysis | Feedback

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AI Analysis | Feedback

Bull Horn Holdings Corp., trading as Z Squared (ZSQR), has transitioned from a Special Purpose Acquisition Company (SPAC) to a vertically integrated computing infrastructure company. It now operates advanced computing equipment strategically distributed across North Carolina, South Carolina, and Iowa. This infrastructure is designed for operational resilience and scalability, supported by dynamic power management, real-time analytics, and in-house repair capabilities to optimize hardware efficiency. Based on its current operations, Z Squared's addressable markets for its main products and services within the United States include the data center market and the edge computing market: * **U.S. Data Center Market:** The U.S. data center market was valued at approximately USD 50.76 billion in 2022. It is projected to grow to approximately USD 122.08 billion in 2026. This market is driven by increasing adoption of cloud technology, artificial intelligence (AI), and machine learning (ML), all of which require substantial computing resources and power. * **U.S. Edge Computing Market:** The U.S. edge computing market was valued at USD 6.08 billion in 2023 and is expected to reach USD 8.44 billion in 2024. This market is projected to grow significantly to USD 43.05 billion by 2030, driven by the increasing demand for real-time data processing, low-latency solutions, and the expansion of IoT. Another estimate places the U.S. edge computing market at USD 7.2 billion in 2025, with a forecast to reach USD 46.2 billion by 2033. The hardware segment, which includes components like edge servers, gateways, and micro data centers, dominated the U.S. multi-access edge computing market with a share of over 60% in 2024.

AI Analysis | Feedback

For the public company Z Squared (symbol: ZSQR), the following are 3 expected drivers of future revenue growth over the next 2-3 years:

  1. Expansion of Computing Infrastructure and Miner Deployment: Z Squared is focused on deploying and optimizing its specialized computing hardware. The company plans to deploy a fleet of 9,800 specialized ASIC miners across its facilities, primarily targeting Dogecoin (DOGE) and Litecoin (LTC) networks. This expansion of its mining capacity will directly drive revenue through increased cryptocurrency mining output.
  2. Geographic Expansion and Diversification of Workloads: Z Squared operates a distributed, facility-agnostic computing infrastructure across North Carolina, South Carolina, and Iowa. This flexible infrastructure is designed for rapid scalability into new geographies and for adapting to emerging computing workloads. This strategy allows the company to broaden its operational footprint and potentially offer its computing services for a wider range of applications beyond current cryptocurrency mining activities, leading to new revenue streams.
  3. Enhanced Operational Efficiency and Cost Management: The company's revenue growth will also be driven by its focus on operational efficiencies. Z Squared utilizes dynamic power management strategies to respond flexibly to real-time grid conditions and electricity rates, aiming to lower its cost per kilowatt-hour while preserving uptime. Additionally, a comprehensive in-house repair and lifecycle management program is designed to maximize hardware efficiency and reduce capital waste. These efficiencies are expected to improve the profitability of its operations, enabling greater reinvestment into growth initiatives and optimizing revenue generation from its computing infrastructure.

AI Analysis | Feedback

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ZSQRAPLDRIOTMARACLSKCORZMedian
NameZ SquaredApplied .Riot Pla.MARA Cleanspa.Core Sci. 
Mkt Price4.0418.0413.697.558.3613.4010.88
Mkt Cap0.25.34.82.92.24.43.6
Rev LTM2854675804679440677
Op Inc LTM-21-244-429-1,014-358-201-301
FCF LTM--4,455-1,097-1,239-1,038-968-1,097
FCF 3Y Avg--1,895-1,144-961-949-408-961
CFO LTM-235-492-895-529520-492
CFO 3Y Avg-16-354-708-380193-354

Growth & Margins

ZSQRAPLDRIOTMARACLSKCORZMedian
NameZ SquaredApplied .Riot Pla.MARA Cleanspa.Core Sci. 
Rev Chg LTM-286.2%24.5%0.7%7.5%26.4%24.5%
Rev Chg 3Y Avg-138.2%42.4%88.9%79.2%-1.6%79.2%
Rev Chg Q-322.4%13.9%-26.7%-30.5%108.8%13.9%
QoQ Delta Rev Chg LTM896.4%44.0%3.3%-7.3%-8.2%24.1%13.7%
Op Inc Chg LTM--193.7%-14.2%-68.2%-243.8%-34.8%-68.2%
Op Inc Chg 3Y Avg--91.7%-27.2%-92.6%-93.4%-73.0%-91.7%
Op Mgn LTM-1,215.0%-28.6%-63.5%-126.1%-52.8%-45.8%-58.2%
Op Mgn 3Y Avg--37.2%-74.9%-82.7%-29.1%-25.8%-37.2%
QoQ Delta Op Mgn LTM3,297.8%3.3%-4.0%-21.7%-16.6%12.8%-0.3%
CFO/Rev LTM-27.5%-73.0%-111.3%-77.8%118.2%-73.0%
CFO/Rev 3Y Avg--22.6%-62.9%-94.9%-66.5%43.1%-62.9%
FCF/Rev LTM--521.8%-162.7%-154.1%-152.8%-219.8%-162.7%
FCF/Rev 3Y Avg--371.2%-242.0%-127.0%-168.7%-97.8%-168.7%

Valuation

ZSQRAPLDRIOTMARACLSKCORZMedian
NameZ SquaredApplied .Riot Pla.MARA Cleanspa.Core Sci. 
Mkt Cap0.25.34.82.92.24.43.6
P/S114.46.27.13.63.39.96.6
P/Op Inc-9.4-21.6-11.1-2.8-6.3-21.6-10.3
P/EBIT-9.5-26.5-3.7-0.8-2.2-8.5-6.1
P/E-9.6-11.4-3.6-0.8-2.2-3.0-3.3
P/CFO-22.4-9.7-3.2-4.28.4-3.2
Total Yield-10.4%-8.8%-27.8%-120.3%-44.3%-32.6%-30.2%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg--32.8%-28.2%-17.7%-28.5%-7.7%-28.2%
D/E0.01.20.20.90.81.00.8
Net D/E-0.10.70.10.70.40.60.5

Returns

ZSQRAPLDRIOTMARACLSKCORZMedian
NameZ SquaredApplied .Riot Pla.MARA Cleanspa.Core Sci. 
1M Rtn76.4%-26.0%-32.7%-31.6%-34.6%-20.6%-28.8%
3M Rtn-20.1%-30.1%-25.0%-29.4%-35.8%-36.0%-29.7%
6M Rtn-73.4%-42.8%-24.4%-34.9%-30.2%-32.5%-33.7%
12M Rtn-73.4%-50.8%-30.0%-62.7%-58.2%-31.9%-54.5%
3Y Rtn-73.4%230.4%41.6%-10.7%100.5%289.5%71.0%
1M Excs Rtn56.8%-33.8%-39.6%-37.4%-39.6%-24.0%-35.6%
3M Excs Rtn-15.6%-40.1%-36.1%-40.2%-46.9%-45.0%-40.2%
6M Excs Rtn-83.0%-52.3%-33.9%-44.5%-39.7%-42.0%-43.2%
12M Excs Rtn-90.5%-69.2%-55.1%-84.0%-80.9%-49.7%-75.1%
3Y Excs Rtn-151.9%164.6%-32.6%-83.0%45.5%211.6%6.4%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20242023
Development of cryptocurrency mining operations00
Total00


Operating Income by Segment
$ Mil20242023
Development of cryptocurrency mining operations-0-0
Total-0-0


Assets by Segment
$ Mil20242023
Development of cryptocurrency mining operations00
Total00


Price Behavior

Price Behavior
Market Price$4.04 
Market Cap ($ Bil)0.2 
First Trading Date12/17/2020 
Distance from 52W High-75.9% 
   50 Days200 Days
DMA Price$3.74 
DMA Trenddown 
Distance from DMA7.8% 
 3M1YR
Volatility136.3%140.3%
Downside Capture293.17 
Upside Capture268.41 
Correlation (S&P 500)4.0% 
ZSQR Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.810.161.481.550.400.69
Up Beta-1.88-5.83-1.30-2.55-1.503.16
Down Beta-1.32-3.19-2.29-0.75-2.08-0.34
Up Capture228%210%99%-12%-5%-0%
Bmk +ve Days6162766132424
Stock +ve Days111927505050
Down Capture74%338%447%269%139%80%
Bmk -ve Days16263760120328
Stock -ve Days112336575757

[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 ZSQR
ZSQR-73.6%140.3%-1.31-
Sector ETF (XLK)29.7%26.4%0.959.3%
Equity (SPY)15.8%12.7%0.8612.8%
Gold (GLD)-1.4%29.4%-0.056.0%
Commodities (DBC)50.4%20.7%1.86-13.1%
Real Estate (VNQ)4.8%13.7%0.099.1%
Bitcoin (BTCUSD)-25.9%43.6%-0.571.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ZSQR
ZSQR-23.3%140.3%-1.31-
Sector ETF (XLK)20.2%26.0%0.699.3%
Equity (SPY)13.2%17.1%0.5912.8%
Gold (GLD)18.4%18.9%0.796.0%
Commodities (DBC)9.6%19.5%0.37-13.1%
Real Estate (VNQ)1.6%18.8%-0.029.1%
Bitcoin (BTCUSD)8.8%51.8%0.351.4%

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 ZSQR
ZSQR-12.4%140.3%-1.31-
Sector ETF (XLK)23.9%25.0%0.869.3%
Equity (SPY)15.2%17.9%0.7212.8%
Gold (GLD)12.3%16.4%0.616.0%
Commodities (DBC)8.1%18.1%0.36-13.1%
Real Estate (VNQ)5.2%20.7%0.219.1%
Bitcoin (BTCUSD)63.2%66.2%1.031.4%

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Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity4.5 Mil
Short Interest: % Change Since 915202610.3%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest9.4 days
Basic Shares Quantity49.8 Mil
Short % of Basic Shares9.1%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/15/202610-Q
03/31/202506/26/2025S-4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/15/202610-Q
03/31/202506/26/2025S-4

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Updated 10/5/2026
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Schadel, Christopher RyanChief Marketing OfficerDirectBuy82020263.921,0003,9203,920Form
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Schadel, Christopher RyanChief Marketing OfficerDirectBuy82020263.921,0003,9203,920Form
Core Cache Last Updated: 10/16/2026