ZeroStack (ZSTK)
Market Price (8/25/2026): $6.22 | Market Cap: $15.1 MilSector: Financials | Industry: Asset Management & Custody Banks
ZeroStack (ZSTK)
Market Price (8/25/2026): $6.22Market Cap: $15.1 MilSector: FinancialsIndustry: Asset Management & Custody Banks
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 27% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -82% Megatrend and thematic driversMegatrends include Cloud Computing, and Artificial Intelligence. Themes include Hybrid Cloud Solutions, AI Software Platforms, Show more. | Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -132% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -31% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.7% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -14% 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 -1450% High stock price volatilityVol 12M is 261% Key risksZSTK key risks include [1] heavy concentration and execution risk in its new business model, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -82% |
| Megatrend and thematic driversMegatrends include Cloud Computing, and Artificial Intelligence. Themes include Hybrid Cloud Solutions, AI Software Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -132% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -31% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.7% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -14% |
| 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 -1450% |
| High stock price volatilityVol 12M is 261% |
| Key risksZSTK key risks include [1] heavy concentration and execution risk in its new business model, Show more. |
Qualitative Assessment
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ZeroStack (ZSTK) stock has lost about 15% since 4/30/2026 because of the following key factors:
1. Massive Fiscal Q2 2026 Earnings Miss and Widened Net Loss.
ZeroStack reported a significant earnings miss for its fiscal Q2 2026, which ended on June 30, 2026. The company posted a basic loss per share of USD 2.47, dramatically missing the consensus estimate of a USD 0.1122 loss per share by 2101.43%. Furthermore, the net loss widened substantially to USD 24.62 million, compared to a net loss of USD 2.41 million in the same period a year ago. This substantial deviation from analyst expectations and the deepening losses contributed to a stock decline of 8.85% following the announcement on July 31, 2026.
2. Persistent Share Dilution.
Over the past year, ZeroStack's total shares outstanding have increased by 2924.1%, indicating significant dilution for existing shareholders. This continuous issuance of new shares can depress the stock price by spreading the company's value across a larger number of shares, thereby reducing earnings per share and overall investor confidence.
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ZeroStack (ZSTK) stock has lost about 15% since 4/30/2026 because of the following key factors:
1. Massive Fiscal Q2 2026 Earnings Miss and Widened Net Loss.
ZeroStack reported a significant earnings miss for its fiscal Q2 2026, which ended on June 30, 2026. The company posted a basic loss per share of USD 2.47, dramatically missing the consensus estimate of a USD 0.1122 loss per share by 2101.43%. Furthermore, the net loss widened substantially to USD 24.62 million, compared to a net loss of USD 2.41 million in the same period a year ago. This substantial deviation from analyst expectations and the deepening losses contributed to a stock decline of 8.85% following the announcement on July 31, 2026.
2. Persistent Share Dilution.
Over the past year, ZeroStack's total shares outstanding have increased by 2924.1%, indicating significant dilution for existing shareholders. This continuous issuance of new shares can depress the stock price by spreading the company's value across a larger number of shares, thereby reducing earnings per share and overall investor confidence.
3. Investor Uncertainty Surrounding Strategic Cryptocurrency Transaction.
On August 19, 2026, ZeroStack announced a definitive transaction to receive US$1.0 billion in Memecore tokens in exchange for 3,500,000 common shares and pre-funded warrants for up to 36,198,293 additional common shares at a price of US$25.19 per share. While positioned as a strategic move into the decentralized artificial intelligence market, this transaction involves a substantial issuance of new equity and warrants, contributing to further potential dilution. The market reacted negatively to this announcement, with the stock declining by 13.51% on the day it was reported, reflecting investor apprehension regarding the implications of the new asset class and the associated dilution.
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Stock Movement Drivers
Fundamental Drivers
The -15.0% change in ZSTK stock from 4/30/2026 to 8/24/2026 was primarily driven by a -57.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 8242026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.96 | 5.06 | -15.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 36 | 40 | 12.2% |
| P/S Multiple | 0.2 | 0.3 | 76.0% |
| Shares Outstanding (Mil) | 1 | 2 | -57.0% |
| Cumulative Contribution | -15.0% |
Market Drivers
4/30/2026 to 8/24/2026| Return | Correlation | |
|---|---|---|
| ZSTK | -15.0% | |
| Market (SPY) | 6.2% | 3.9% |
| Sector (XLF) | 11.7% | -6.5% |
Fundamental Drivers
The -55.9% change in ZSTK stock from 1/31/2026 to 8/24/2026 was primarily driven by a -69.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 8242026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.48 | 5.06 | -55.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 34 | 40 | 17.9% |
| P/S Multiple | 0.2 | 0.3 | 23.5% |
| Shares Outstanding (Mil) | 1 | 2 | -69.7% |
| Cumulative Contribution | -55.9% |
Market Drivers
1/31/2026 to 8/24/2026| Return | Correlation | |
|---|---|---|
| ZSTK | -55.9% | |
| Market (SPY) | 10.6% | 7.6% |
| Sector (XLF) | 9.5% | -0.4% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2025 to 8/24/2026| Return | Correlation | |
|---|---|---|
| ZSTK | ||
| Market (SPY) | 21.8% | 6.8% |
| Sector (XLF) | 12.5% | -1.9% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2023 to 8/24/2026| Return | Correlation | |
|---|---|---|
| ZSTK | ||
| Market (SPY) | 72.7% | 6.8% |
| Sector (XLF) | 72.2% | -1.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ZSTK Return | - | - | - | - | - | -60% | -60% |
| Peers Return | 45% | -16% | 58% | 47% | 30% | 58% | 479% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| ZSTK Win Rate | - | - | - | - | - | 12% | |
| Peers Win Rate | 72% | 40% | 70% | 70% | 55% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ZSTK Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -12% | -33% | -15% | -24% | -28% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, IBM, AVGO, DELL, CSCO.
[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 8/24/2026 (YTD)
How Low Can It Go
ZSTK has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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ZSTK has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% 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 ZeroStack (ZSTK)
Flora Growth Corp. (ZSTK) is a diversified cannabis company based in Toronto, Canada, primarily focused on the cultivation, processing, and global supply of cannabis products. The company provides medicinal-grade cannabis oils, extracts, and related products to pharmacies, medical clinics, and cosmetic companies worldwide, establishing itself as a key player in the international cannabis market.
Beyond its core cannabis operations, Flora Growth Corp. expands into various consumer product sectors. It develops, manufactures, and sells a range of skincare and beauty products, including gel cleansers, eye creams, and moisturizers, under brands like Mind Naturals and Almost Virgin. The company also produces dermo-cosmetic products and develops pharmaceutical and over-the-counter items, such as dietary supplements, phytotherapeutic, and nutraceutical products, through its Flora Lab brand.
Furthermore, Flora Growth Corp. engages in other distinct ventures, including the manufacturing and sale of hemp textile products under the Stardog Loungewear brand, catering to the hospitality, medical, and clothing industries on a B2B basis. It also designs and supplies food products like juices and chocolates under the Mambe brand to wholesale distributors, pharmacies, supermarkets, and online channels, while offering general wellness products. This broad portfolio allows the company to serve a wide array of customers across multiple global markets.
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For ZeroStack (ZSTK):
-
A 'Johnson & Johnson for cannabis,' cultivating, processing, and supplying a wide array of cannabis-derived products including medical oils, beauty items, supplements, food, and even hemp textiles.
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Like a 'Canopy Growth or Tilray Brands, but significantly more diversified' across consumer goods, encompassing cannabis-infused beauty, food, and hemp clothing, beyond traditional cannabis sales.
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- Medicinal Cannabis Products: The company cultivates, processes, and supplies medicinal-grade cannabis oil and extracts.
- Skincare and Beauty Products: It manufactures and sells various skincare and beauty items, including cleansers, eye creams, moisturizers, and hydrating masks.
- Dermo Cosmetic Products: The company produces specialized dermo cosmetic products.
- Pharmaceutical and OTC Products: It develops and sells dietary supplements, phytotherapeutic, nutraceutical, and other over-the-counter products.
- Hemp Textiles: The company manufactures and sells hemp textiles, primarily for B2B clients in hospitality, medical, and clothing sectors.
- Food and Beverage Products: It designs, produces, and supplies juices, chocolate, and chocolate-related products.
- Wellness Products: The company also offers a range of general wellness products.
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The company, identified as ZeroStack (ZSTK) based on the provided description of Flora Growth Corp., primarily sells to other companies (B2B).
Its major customer categories include:
- Pharmacies, Medical Clinics, and Cosmetic Companies: For cannabis products, cannabis oil extracts, dermo cosmetic products, and pharmaceutical/over-the-counter products.
- Wholesale Distributors, Supermarkets, and Online Retailers: For juices, chocolate, and related products, and potentially other consumer goods.
- Companies in the Hospitality, Medical, and Clothing Industries: For hemp textiles products on a B2B basis.
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Daniel Reis-Faria, CEO & Director
Daniel Reis-Faria serves as the Chief Executive Officer and a Director of ZeroStack Corp.. His total compensation is noted as above average for companies of a similar size in the U.S. market. Under his leadership, ZeroStack Corp. secured a $6.5 million order for pharmaceutical distribution through its German subsidiary, Phatebo GmbH, which has been a portfolio company for the past five years. Reis-Faria emphasized Phatebo's consistent performance and its role in enabling ZeroStack to scale pharmaceutical operations while diversifying investments into the artificial intelligence (AI) space.
Dany Vaiman, Chief Financial Officer
Dany Vaiman is the Chief Financial Officer of ZeroStack Corp.. His total compensation is reported as US$1.95 million.
Michael Heinrich, Executive Chairman
Michael Heinrich holds the position of Executive Chairman at ZeroStack Corp., with a reported compensation of US$4.00 million.
Manfred Ziegler, Managing Director
Manfred Ziegler is a Managing Director at ZeroStack Corp..
Patrick Moloney, Head of Product Development
Patrick Moloney serves as the Head of Product Development for ZeroStack Corp..
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- Significant Financial Losses and Negative Profitability: ZeroStack Corp. reported substantial financial losses, with a net income of -$119.7 million on revenues of $35.7 million and a net profit margin of -335.6% on a trailing twelve-month basis. This indicates severe financial challenges and raises concerns about the company's long-term financial viability.
- Volatility and Regulatory Uncertainty in Digital Assets: The company operates as a decentralized AI treasury, investing in AI infrastructure through the strategic ownership of 0G tokens. The market for digital assets is characterized by high volatility, and the regulatory environment for decentralized artificial intelligence and digital assets is still emerging and subject to rapid, unpredictable changes. This introduces significant risks to the value of its investments and overall operations.
- Competition and Regulatory Risks in Pharmaceutical Distribution: ZeroStack, through its subsidiary Phatebo GmbH, is engaged in the pharmaceutical distribution business in Germany. This sector is highly competitive, with constant pressure on pricing and profit margins, and is subject to stringent and evolving regulations within the German and broader European pharmaceutical markets.
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Addressable Markets for ZeroStack (ZSTK)
ZeroStack Corp. (ZSTK) operates in several growing markets, encompassing organic and pharmaceutical-grade cannabis products, nutraceuticals, cannabis technology, personal care and wellness, and pharmaceutical distribution.
- Organic and Pharmaceutical-Grade Medical Cannabis Products: The global organic cannabis market was valued at approximately USD 42.0 billion in 2023 and is projected to reach USD 160.4 billion by 2031, with a compound annual growth rate (CAGR) of 18.37% from 2024 to 2031. North America is identified as the most advanced segment in this market. For the broader global medical cannabis market, its size was approximately USD 25.86 billion in 2024 and is expected to grow to USD 133.73 billion by 2032, at a CAGR of 22.80% from 2025 to 2032. The global cannabis pharmaceuticals market, a subset focusing on pharmaceutical-grade products, was valued at USD 15.08 billion in 2025 and is predicted to increase to approximately USD 1,439.34 billion by 2035, expanding at a CAGR of 57.75% between 2026 and 2035. North America contributed more than 37% of the revenue share in this market in 2025.
- Nutraceuticals (including Food and Beverage aspects): The global nutraceuticals market size was estimated at USD 636.2 billion in 2025 and is projected to reach USD 1,151.5 billion by 2033, demonstrating a CAGR of 7.7% from 2026 to 2033. Asia Pacific held the largest revenue share in the global nutraceuticals market in 2025.
- Cannabis Accessories and Technology: The global cannabis technology market was valued at USD 6.75 billion in 2024 and is expected to grow from USD 8.59 billion in 2025 to USD 59.23 billion by 2033, at a CAGR of 27.3% during the forecast period of 2026–2033. North America is a key player in this market, with Europe emerging as the fastest-growing region.
- Personal Care and Wellness: The global wellness services market was valued at USD 6.8 trillion in 2024 and is projected to grow at a CAGR of over 6.5% from 2025 to 2034. Specifically, the personal care and beauty wellness services segment recorded USD 1.3 trillion in revenue in 2024 and is expected to grow at a CAGR of around 5.9% from 2025 to 2034. This market is global in scope.
- Distribution of Pharmaceutical Products to International Markets: The global pharmaceutical wholesale and distribution market is projected to expand from USD 673.281 billion in 2021 to USD 2033.98 billion by 2033, growing at a CAGR of 9.651% from 2025 to 2033. This growth is observed globally.
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Peer Outperformance in Asset Management & Custody Banks
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Investment Banking & Brokerage | 13 | 5.3% | 132.0% | 129.5% | IBKR 497% · SNEX 244% · GS 183% |
| Reinsurance | 6 | 20.7% | 84.9% | 120.1% | SPNT 144% · RGA 131% · MTG 129% |
| Diversified Banks | 12 | 37.8% | 133.5% | 99.7% | JPM 151% · CM 142% · RY 131% |
| Life & Health Insurance | 19 | 12.2% | 57.9% | 85.9% | UNM 288% · FG 204% · MFC 172% |
| Regional Banks | 265 | 25.7% | 86.0% | 64.1% | GCBC 400% · ESQ 363% · NBN 302% |
| Property & Casualty Insurance | 42 | 12.5% | 76.9% | 63.0% | ASIC 2632900% · HRTG 448% · UVE 289% |
| Multi-line Insurance | 9 | 13.9% | 81.1% | 57.8% | GNW 171% · L 101% · SLF 87% |
| Insurance Brokers | 15 | -8.0% | 10.9% | 35.5% | LIFE 599% · AJG 101% · ARX 87% |
| Multi-Sector Holdings | 6 | -3.5% | 17.7% | 33.5% | BRK-B 76% · JEF 73% · VOYA 66% |
| Consumer Finance | 30 | 10.8% | 88.6% | 29.7% | ENVA 667% · EZPW 431% · FCFS 197% |
| Asset Management & Custody Banks ← | 83 | -8.0% | 23.2% | 23.0% | SII 346% · WT 309% · VCTR 290% |
| Financial Exchanges & Data | 15 | 0.0% | 14.6% | 16.5% | VIRT 209% · CBOE 162% · CME 72% |
| Commercial & Residential Mortgage Finance | 12 | -33.7% | 19.6% | 4.6% | FNMA 502% · FMCC 460% · ESNT 61% |
| Specialized Finance | 3 | 19.1% | 52.3% | 4.4% | EFC 36% · CACC 4% · HASI -14% |
| Mortgage REITs | 34 | -7.0% | 12.8% | -10.4% | RITM 60% · NREF 58% · DX 42% |
| Transaction & Payment Processing Services | 15 | 1.4% | 7.5% | -40.1% | MA 72% · V 71% · CPAY 58% |
| Diversified Capital Markets | 21 | -31.3% | -2.8% | -44.4% | BTCS 645% · OPY 177% · LPLA 151% |
| Diversified Financial Services | 5 | -9.6% | 64.1% | -65.1% | FRHC 146% · EQH 78% · TMS -65% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 294.90 |
| Mkt Cap | 358.4 |
| Rev LTM | 72,281 |
| Op Inc LTM | 13,556 |
| FCF LTM | 12,466 |
| FCF 3Y Avg | 12,314 |
| CFO LTM | 13,956 |
| CFO 3Y Avg | 13,626 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 22.5% |
| Rev Chg 3Y Avg | 8.7% |
| Rev Chg Q | 29.2% |
| QoQ Delta Rev Chg LTM | 7.4% |
| Op Inc Chg LTM | 19.9% |
| Op Inc Chg 3Y Avg | 17.0% |
| Op Mgn LTM | 21.1% |
| Op Mgn 3Y Avg | 20.5% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 21.5% |
| CFO/Rev 3Y Avg | 22.3% |
| FCF/Rev LTM | 19.2% |
| FCF/Rev 3Y Avg | 20.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Commercial and Wholesale | 36 | 36 | 38 | 0 | 0 |
| Corporate | 0 | 0 | |||
| Digital Assets | 0 | 0 | |||
| Corporate & Eliminations | -7 | ||||
| House of Brands | 45 | 39 | 6 | ||
| Eliminations | -6 | -0 | |||
| Pharmaceuticals | 0 | 3 | |||
| Total | 36 | 36 | 76 | 33 | 9 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Commercial and Wholesale | 10 | -2 | -9 | -0 | -1 |
| Corporate | -21 | -8 | |||
| Digital Assets | -104 | 0 | |||
| Corporate & Eliminations | -7 | -17 | -19 | ||
| House of Brands | -31 | -30 | -1 | ||
| Pharmaceuticals | 0 | 0 | |||
| Total | -115 | -9 | -47 | -47 | -21 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Digital Assets | 121 | 0 | |||
| Corporate | 5 | 17 | |||
| Commercial and Wholesale | 4 | 9 | 9 | 22 | 3 |
| Corporate & Eliminations | 3 | 6 | 41 | ||
| House of Brands | 12 | 49 | 37 | ||
| Pharmaceuticals | 3 | 5 | |||
| Total | 130 | 26 | 24 | 81 | 85 |
Price Behavior
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.32 | 0.87 | 0.55 | 1.10 | 0.71 | 0.46 |
| Up Beta | 3.94 | 3.77 | 4.50 | 3.51 | -0.29 | -0.10 |
| Down Beta | -0.72 | 0.60 | 1.47 | 1.35 | -0.29 | -1.27 |
| Up Capture | -628% | -268% | -244% | -107% | -47% | -5% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 6 | 14 | 25 | 51 | 51 | 51 |
| Down Capture | 204% | 289% | 190% | 190% | 126% | 71% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 15 | 27 | 36 | 73 | 73 | 73 |
[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 ZSTK | |
|---|---|---|---|---|
| ZSTK | -57.3% | 261.3% | 0.22 | - |
| Sector ETF (XLF) | 11.8% | 14.6% | 0.54 | -1.9% |
| Equity (SPY) | 21.2% | 12.9% | 1.23 | 6.8% |
| Gold (GLD) | 39.0% | 28.8% | 1.14 | 24.7% |
| Commodities (DBC) | 40.9% | 20.2% | 1.58 | 4.9% |
| Real Estate (VNQ) | 13.9% | 13.8% | 0.70 | 13.9% |
| Bitcoin (BTCUSD) | -30.4% | 44.2% | -0.69 | 26.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZSTK | |
|---|---|---|---|---|
| ZSTK | -15.6% | 261.3% | 0.22 | - |
| Sector ETF (XLF) | 10.5% | 18.4% | 0.43 | -1.9% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 6.8% |
| Gold (GLD) | 20.6% | 18.6% | 0.90 | 24.7% |
| Commodities (DBC) | 10.2% | 19.6% | 0.41 | 4.9% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 13.9% |
| Bitcoin (BTCUSD) | 11.2% | 52.8% | 0.40 | 26.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZSTK | |
|---|---|---|---|---|
| ZSTK | -8.1% | 261.3% | 0.22 | - |
| Sector ETF (XLF) | 13.7% | 22.0% | 0.56 | -1.9% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 6.8% |
| Gold (GLD) | 12.9% | 16.3% | 0.65 | 24.7% |
| Commodities (DBC) | 7.8% | 18.1% | 0.35 | 4.9% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 13.9% |
| Bitcoin (BTCUSD) | 63.1% | 66.2% | 1.03 | 26.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/28/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/28/2022 | 6-K |
| 06/30/2022 | 08/15/2022 | 6-K |
| 12/31/2021 | 05/09/2022 | 20-F |
| 06/30/2021 | 09/17/2021 | 6-K |
| 12/31/2020 | 05/12/2021 | 424B4 |
| 06/30/2020 | 03/11/2021 | F-1/A |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Asset Management & Custody Banks Resources |
| Pensions & Investments |
| Institutional Investor |
| Ignites |
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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