Consider Nebius (NBIS) as a hyper-growth opportunity, with deals from Microsoft and Meta expected to drive revenue up 10x to 20x over the next 12 months. Marathon Digital (MARA) is presented as a deep value play, as its stock is trading below the value of the Bitcoin it holds on its balance sheet. Hims & Hers (HIMS) is viewed as a significantly undervalued long-term investment with a potential price target above $40, driven by its global expansion into markets like Canada and the UK. Watch for CleanSpark (CLSK) to potentially re-rate higher as it pivots from Bitcoin mining to providing data center services for AI hyperscalers. The long-term bull case for Tesla (TSLA) is based on its future potential in AI, specifically its Optimus robot and Full Self-Driving technology, not just car sales.

Hims & Hers Health, Inc. (HIMS)

• The speaker is very bullish on HIMS, stating it "never deserved to trade below $40," especially after its strong Q3 earnings report.
• Despite a recent 10% gain over two days, the stock is considered "dirt cheap" with a metric of 0.12 (the speaker likely refers to a price-to-sales or similar valuation metric, but doesn't specify which).
• The company is executing a global expansion strategy, which the speaker believes is a sign it could become a "big tech" firm in the future.
  • Canada: The company completed its acquisition of LiveWell, a Canadian telehealth company, and has rebranded and launched hims.ca and hers.ca. The speaker notes that the key drug semaglutide (for weight loss) goes off-patent in Canada in January 2026, creating a significant opportunity.
  • United Kingdom: The company operates forhims.co.uk with branding consistent with its US operations.
  • Europe: Through its acquisition of Zava, Hims is present in Germany, France, and Ireland. The speaker expects Hims will eventually rebrand Zava's assets to create a unified "hims and hers" European platform.

Takeaways

• The speaker views HIMS as a long-term investment with the potential to become a global leader in telehealth, similar to a "big tech" company.
• The international expansion into Canada and Europe is a key growth driver to watch. The Canadian weight loss market is highlighted as a major near-term opportunity starting in 2026.
• The stock is considered significantly undervalued based on its growth and global potential.

Tesla, Inc. (TSLA)

• The speaker is very bullish on TSLA and notes it is their largest position.
• The recent optimism is attributed to the market beginning to price in the potential of the Optimus robot and FSD (Full Self-Driving) / Robotaxi services.
• The core investment thesis is that Tesla is the "iPhone of cars" and will take enormous market share from legacy automakers (General Motors, Volkswagen, Stellantis, Ford), who are described as having significant debt or product issues.
  • The speaker believes Toyota will likely survive due to its leadership in emerging markets and inexpensive cars.
• The valuation is justified not just by car sales, but by its other businesses:
  • AI: FSD and the Optimus robot.
  • Energy: The rapidly growing Megapack division.
  • Charging Network: Described as a "gas station network."
• Tesla's direct-to-consumer model (no dealerships) is a major business model innovation that customers prefer and allows the company to move faster.

Takeaways

• The investment case for TSLA extends far beyond just electric vehicles. Investors should consider its potential in AI, robotics (Optimus), and energy storage.
• The speaker believes Tesla's software and direct-to-consumer model give it a durable competitive advantage over legacy car companies, which are seen as fundamentally weaker.
• The stock is viewed as a long-term hold with significant upside potential for the next year and beyond.

CleanSpark, Inc. (CLSK)

• The speaker highlights the extreme volatility of CLSK, noting it dropped from $23 to under $10, and then bounced back to $15 in a short period. This volatility is seen as a source of return for long-term investors.
• The drop to the $10 range was considered a "screaming buy" opportunity. At that price, the stock was trading at just 2.5 times EBITDA (after accounting for the Bitcoin on its balance sheet), a valuation the speaker calls absurdly low.
• A key catalyst is that CLSK is in talks with two hyperscalers (large cloud computing companies) to provide data center services at its Georgia sites. This represents a pivot from just Bitcoin mining to broader AI and computing services.
• The speaker notes that CLSK decided to sell some Bitcoin to fund operations to appear more like an "adult in the room" for Wall Street, a move the speaker was not entirely happy with but acknowledges the market has rewarded in the short term.

Takeaways

• CLSK is presented as a highly volatile but potentially rewarding investment that the market misunderstands.
• The company's potential pivot to providing computing power for AI hyperscalers is a major future growth driver beyond just Bitcoin mining.
• The stock was seen as extremely undervalued when it traded around $10, and while it has recovered to $15, the underlying bullish thesis remains.

Nebius (NBIS)

• The speaker is very bullish on NBIS, highlighting its massive growth potential.
• The company has secured deals with two hyperscalers, Microsoft and Meta (Facebook), which are expected to increase its revenue by 10x to 20x over the next 12 months.
• The stock is considered "so, so cheap on a growth-adjusted basis," with a key valuation metric (Enterprise Value / (Gross Profit * Revenue Growth)) at an "absolute nonsense" level of 0.052.
• The speaker believes the market has not fully digested the news of the Meta deal because it was announced at the same time as earnings.

Takeaways

• NBIS is a hyper-growth opportunity that the market appears to have overlooked.
• The revenue growth from the Microsoft and Meta deals is the primary catalyst to watch over the next year.
• Based on the speaker's growth-adjusted valuation, the stock is considered extremely cheap.

Marathon Digital Holdings, Inc. (MARA)

• The speaker is very bullish on MARA as a long-term hold, even though it has underperformed other crypto-related stocks recently.
• The company is considered "free" because the stock is trading below the value of the Bitcoin it holds on its balance sheet.
• MARA has multiple strategic assets the market is ignoring:
  • A strategy similar to CleanSpark to provide dispatchable compute and "prefab AI factories."
  • The Exion acquisition, a French company acquired for a very low price.
  • Ownership of a quantum computer in Canada.
  • A large stake in Auradine, a manufacturer of Bitcoin mining rigs.
• The speaker defends the company's strategy of diluting shares to raise capital, arguing it's a tax-efficient way to avoid selling its Bitcoin holdings.

Takeaways

• MARA is presented as a deeply undervalued, misunderstood company with numerous hidden assets.
• The primary investment thesis is that you are getting the company's entire operational infrastructure and strategic investments for free, as the market cap is less than its Bitcoin holdings.
• This is a stock for patient, long-term investors who can wait for the market to recognize its full value.

KULR Technology Group, Inc. (KULR)

• KULR is described as a "roller coaster" stock with extreme volatility, capable of both -90% drops and 10x gains.
• The core business is providing high-performance batteries and thermal management solutions for extreme environments, including space (moon and Mars missions) and the military. They have deals for drone takedown lasers and other military applications.
• The company is in a hyper-growth phase, with revenue growing 116% year-over-year.
• Like other stocks mentioned, KULR also holds Bitcoin on its balance sheet. When the stock was trading around $2, it was valued at less than its Bitcoin holdings, making the underlying business "free."
• The speaker's thesis is that KULR offers a high-growth investment in the promising space sector, with the Bitcoin holdings acting as a "margin of safety" or a price floor for the stock.

Takeaways

• KULR is a high-risk, high-reward play on the space and defense sectors.
• Due to its extreme volatility, the speaker recommends Dollar-Cost Averaging (DCA) over a long period as the best way to build a position.
• The combination of a fast-growing core business and a significant Bitcoin balance sheet provides a unique investment profile with a potential value floor.