Market Insights & Research
Data stories from Equibles Research — every figure computed straight from SEC filings and market data, written up so the numbers tell you something.
SoFi's 47.2% drawdown prices a credit-cycle casualty the Q1 2026 print disproves
Record originations across every lending product, 1,055,000 net new members, and a 22 basis-point NIM expansion to 5.94% sit beneath a 37.8x P/E and 14.7% short interest that price SoFi Technologies as if the bear case on capital deployment has already landed.
Hims & Hers has 26.4% shorts arguing against $2.9B of guided 2026 revenue; the Q2 print decides whether subscriber growth or ARPU decay wins
Hims & Hers closed at $32.84, off 50.4% from its 52-week high, with short interest at 26.4% of shares outstanding and the steepest positioning in the comp set against a +59.0% TTM revenue base and a 10%–12% full-year adjusted EBITDA guide — the next quarter decides whether the multiple re-rates with subscriber growth or compresses further on the 6% ARPU slide.
Rocket Lab: Backlog is converting, but the $39B market cap is paying for a Neutron debut the company has yet to validate
Rocket Lab enters Q2 2026 with record backlog of $2,219.8M and guided revenue of $225.0M–$240.0M, yet the stock trades at -55.2% from its $150.23 high on a $39.0B market cap against $679.6M of trailing revenue — a gap the equity-funded growth model and the un-flown Neutron debut have to close.
Emergent BioSolutions: leveraged biodefense name trades like a Narcan story while international MCM mix hits 37%
A $413.3M small-cap MCM franchise that has signed a $140M Canada agreement, a $54M ASPR award, and an ACAM2000 modification while net leverage fell to 1.9x and a $50M buyback was reauthorized — yet the equity is the worst YTD performer in the peer set with 19.9% short interest, leaving the print of the next four quarters to test whether the international MCM pivot can offset the Narcan generics drag.
Alexandria Real Estate Equities: stress event priced in, dividend reset is the test
Alexandria Real Estate Equities sits at a -38.8% trailing-twelve-month change and a -45.0% drawdown from its 52-week high after cutting its dividend from $1.32 to $0.72 and reporting zero public biotech leasing for the first quarter in company history. The peer office REIT cohort is reporting tightening markets and raising FFO midpoints, leaving ARE's stress specific to its public-biotech exposure — the setup turns on whether the 1.1 million square feet of leased vacant space delivers in September 2026, the $2.2 billion disposition program closes on pace, and public biotech leasing returns in Q2.