Author presents a bullish long thesis on SolarMax Technology (SMXT), arguing recently awarded Puerto Rico and Texas solar contracts are not reflected in the share price and could drive a multi-bagger turnaround.
SMXT — LONG Author argues SolarMax Technology is mispriced because it won $158 million Puerto Rico and $258 million Texas contracts in January, together worth more than 18x 2024 revenue, while the share price stayed flat. They also point to Q3 2025 revenue over $30 million and narrower net losses as evidence of a turnaround. The catalyst is the market recognizing these contracts, with the author expecting a 5-10x move and potentially 10-20x in one to two years. Main stated risks are that the company remains unprofitable, the CEO's background, and roughly 10% annual dilution, making it an extremely high-risk play.
These contracts alone are worth more than 18 times their whole 2024 revenue and the shareprice stayed at the same levels it was before the news!