CATALYST DOSSIER · UPDATED 2026-11-05
$ON
semis · convergence -12 · conviction AVOID
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Why $ON?
Quantitative
Net Income (CY2026Q2) : $226.8M (+33.2% YoY)
Catalysts
Multi-spoke convergence : 8 convergent signals fired: reddit, congress, oge_exec, contract, audit_extras
Risks
Auditor change / restatement : non_reliance on
Bear case
Multiple compression : If breadth deteriorates, semis-wide multiples re-rate lower regardless of pick-specific thesis
Sympathy basket (cerebro)
EPAM via tech r=+0.89 sympathetic (score 17)
PLTK via tech r=+0.89 sympathetic (score 17)
GEO via industrials r=+0.72 sympathetic (score 25)
LOAR via industrials r=+0.72 sympathetic (score 21)
TAP via staples r=-0.60 divergent (score 15)
CPB via staples r=-0.60 divergent (score 2)
Signals Firing
reddit congress oge_exec contract audit_extras auto_macro_adp_payrolls auto_macro_durable_goods auto_macro_fx_rates
Pick Track Record Date List Next-day max run Next-day close Hit +2%? 2026-11-03 sec_top_gappers +2.2% -1.9% ✓ hit 2026-11-03 sec_top_moat_emerging +2.2% -1.9% ✓ hit 2026-10-06 sec_top_gappers -1.3% -4.4% — 2026-10-06 sec_top_moat_emerging -1.3% -4.4% — 2026-10-05 sec_top_gappers +1.2% +0.4% — 2026-10-05 sec_top_moat_emerging +1.2% +0.4% — 2026-10-02 sec_top_gappers +1.7% +1.2% — 2026-10-02 sec_top_moat_emerging +1.7% +1.2% —
Lifetime: 2/8 wins · hit-rate 25.0% on +2% intraday
Sympathy Basket EPAM via tech · score 17 PLTK via tech · score 17 GEO via industrials · score 25 LOAR via industrials · score 21 TAP via staples · score 15 CPB via staples · score 2
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