LODE Reddit Mentions | ChartExchange

https://preview.redd.it/oha19rea877f1.png?width=680&format=png&auto=webp&s=2071511d500cf06172871414fb8c1655775dd006
***A real business. A tight float. A setup that could go fundamental… or feral.***
# TL;DR: The Setup
CISO Global ($CISO) is a cybersecurity company trading at a \~$30.76M market cap with:
* **Real revenue**: $39M projected for 2025, EBITDA-positive
* **High-margin software**: 80%+ margin, tied to cyber insurance
* **Insider/retail locked float**: \~90% of shares not trading
https://preview.redd.it/z763gzm0877f1.png?width=1380&format=png&auto=webp&s=af9ee49a2fbffccc93595facb113774a139c9027
* **Dark pool activity**: 60–80%+ of daily volume is off-exchange
* **Reg SHO list**: Failures to deliver = structural tension
* **Trading at less than 1x revenue**: Cybersecurity peers typically trade at **4.8x–6.7x** revenue for medium-growth companies
* **Private market multiples**: Acquisitions in cybersecurity often occur at **8–12x revenue**
* **Insiders in blackout**: Management is currently restricted from buying/selling, suggesting material news is pending. My guess is that the end of blackout will also come with an avalanche of insider buying
* **CUSIP change trigger discussed**: Management has previously indicated that they are preparing to take action that could result in a CUSIP change—a corporate event that would force all borrowed shares to be returned, disrupting any hidden or synthetic short positions
This is either a **deep value tech play** or a **short squeeze powder keg**. Maybe both.
See how she runs:
https://preview.redd.it/76spge33877f1.png?width=1330&format=png&auto=webp&s=6b21f7ce0516f622af089468621bc4f70125f4bf
https://preview.redd.it/sak41i33877f1.png?width=1338&format=png&auto=webp&s=9099f4f0f5dc4a3daf665de52a8ca85bfc151deb
# 🍽️ Path 1: “Meat & Potatoes” (The Fundamental Thesis)
* ✅ SOC 2 Type II certified
* ✅ $34M services + software guidance
* ✅ 93% client retention
* ✅ 80%+ gross margin product: CheckLight
* ✅ Partnered with insurance firm CAGI
* ✅ $5M+ in high-margin software bookings expected
* ✅ Software alone independently valued at $50M
* ✅ No toxic debt, no ATM usage, insider-aligned
* ✅ Built for Microsoft and AWS environments, with early traction positioning CheckLight for scalable enterprise and cloud deployment
Dive deeper into the full investment thesis scroll down to the full "Meat & Potatoes" breakdown
# 🔥 Path 2: “The Pressure Cooker” (The Short Squeeze Thesis)
* 🔒 \~90% float lock-up:
* 9.9M self-reported by Stocktwits holders
* 18.5M known held by insiders/friends/family
* ❌ Only \~3M shares remain in the wild
* 🔀 60–80% dark pool routing = market maker internalization
* 🧾 On the NASDAQ Reg SHO list (ongoing FTDs)
* 👀 Wild volume patterns: 30M+ volume days with tiny floats
* 📉 Reported short interest is low... but behavior is not
Dive deeper into the full short squeeze thesis, scroll down to read the full "Pressure Cooker" thesis
# Why It Matters Either Way
This isn’t AMC. It’s not GME. It’s not air.
**CISO has a business. Has revenue. Has software.**
But it also has:
* A float tighter than GameStop’s in early 2021
* Enough abnormal behavior to raise questions
* A structure that doesn’t need 100% short interest to break
# Final Thought
If you’re here for fundamentals, there’s a case. If you’re here for fireworks, there’s a fuse. If you’re here for both... well, you’re probably not alone.
https://preview.redd.it/2p59q335877f1.jpg?width=4500&format=pjpg&auto=webp&s=f7eb91466b7c604239fc12890d7a9e2e3d0d5408
# 🔥 The Pressure Cooker Thesis: Why CISO May Be Squeeze-Prone
This is not a hype play built on hope. This is a structurally starved float wrapped around an undervalued cybersecurity business. Here’s why CISO ($CISO) is exhibiting key signals of a classic short squeeze setup:
# Locked Float: Almost Nothing Left to Trade
* **Total shares outstanding**: 32.04 million
* **Known long-term holdings**:
* \~18.5 million held by insiders, family, and known associates
* \~ 9.9 million self-reported held by retail (Stocktwits/Substack polls, screenshot-based tracking)
* **Estimated locked float**: \~90%+
* **What’s left?** Fewer than 3 million shares available for actual market trading.
# Why It Matters
This is **GameStop mechanics with microcap friction**. A tiny tradable float makes it easy to trap shorts and hard to find supply in a rising market.
# Abnormal Dark Pool Activity
* **60–80% of daily volume** is regularly routed off-exchange
* **Typical small caps** might see 20–40%
* **What this suggests**:
* Market makers may be **internalizing trades**, reducing visible price discovery
* Could indicate **non-retail participants masking exposure** or **avoiding upward price impact**
When you’re seeing 20M+ volume days on a stock with 3M tradable shares, and most of it is off-exchange, something’s wrong.
# Reg SHO List: Structural Pressure is Building
* CISO has appeared on the **NASDAQ Reg SHO threshold list**, indicating repeated **failures to deliver (FTDs)**
* This means broker-dealers **aren’t delivering borrowed shares on time**
* Regulation requires these positions to be closed within **13 trading days**
# What This Means
Reg SHO status is often a precursor to explosive volatility. It implies **phantom shares or naked shorting**, which cannot be sustained if real demand shows up.
# Short Interest is Reported Low… But May Be Misleading
* **Reported short interest** is not extreme (as of last update)
* But that doesn’t account for:
* **Synthetic shorts** through options
* **Unreported offshore or swap-based positions**
* **Internalized shorting** not yet reflected in disclosures
This is a **float trap** more than a pure short interest play. It’s not about 100%+ shorts. It’s about a lack of exit doors.
# Volume Surges + Illiquidity = Combustible Setup
* We’ve seen multiple **30M+ volume days** despite minimal float
* Price barely moves—why?
* Likely internalization + short pressure + volume masking
* Price suppression may be active or incidental, but it’s real
When the volume flips back to lit exchanges, and supply can’t meet demand, the spring can snap.
# Timeline Catalyst: Time-Based Exposure Risk
* Each day CISO remains on Reg SHO **raises the stakes**
* If retail or institutional interest rises, shorts may be forced to cover under duress
* No dilution means **no relief valve** for those caught short
# Precedents & Analogues
* **LODE (2021)**: Ran from \~$1 to $9 on float lockup + speculative flow
* **HKD**: Exploded on no fundamentals, purely float scarcity
* **GME**: Iconic, but what made it dangerous was float structure, not just short interest
CISO has:
* Real revenue
* Real product
* Real lockup
# Conclusion: The Case for a Squeeze
CISO is not guaranteed to squeeze. But structurally:
* The float is unavailable
* The trading is opaque
* The regulatory pressure is building
Even without a squeeze, these factors often force **unpredictable price action**. Add news or increased interest, and this setup has potential to move quickly.
It’s a spring wound tight—not by hype, but by math.
https://preview.redd.it/s9e0bqm7877f1.png?width=1024&format=png&auto=webp&s=25a8dea982fdbeb3fcbc9868852cb51b0c58353a
# The "Meat & Potatoes" Thesis: Why CISO's Fundamentals Matter
CISO Global ($CISO) isn’t just a possible squeeze setup—it’s a real cybersecurity company with real revenue, sticky software, and growing relevance. Here’s why the fundamentals justify serious attention.
# Real Revenue, Not Projections
* **$39 million projected revenue** in 2025
* 2024 already marked the company’s **first EBITDA-positive quarter**
* Revenue is split between:
* **Cybersecurity services** (recurring)
* **Proprietary software** (high margin, scalable)
This isn’t hype revenue. These are real enterprise contracts and recurring customer relationships.
# Recurring and Retained
* **75% of revenue is recurring**, primarily from managed cybersecurity services
* **Client retention rate is 93%**
This gives CISO a base that grows organically and reduces customer churn risk—a major valuation driver in the SaaS world.
# CheckLight: A High-Margin Growth Engine
* **CheckLight** is CISO’s proprietary endpoint detection & response (EDR) solution
* It’s being distributed through a **cyber insurance partner (CAGI)**
* CheckLight is:
* 80%+ gross margin
* Bundled with policies
* Designed for small and mid-sized enterprises
* **$25/month** per computer, server, firewall or connected endpoint
This turns CISO from a services firm into a **scalable SaaS/software player**
# Built for Enterprise, Backed by Giants
* CheckLight is compatible with **Microsoft** and **Amazon AWS** environments
* This enables **broad enterprise adoption** and future integration with large IT ecosystems
* These relationships increase trust and accelerate enterprise pipeline growth
# Undervalued by the Numbers
* CISO’s **current market cap is \~$30.76M, less than 1x revenue**
* **39m Projected 2025 revenue, 30.8m revenue in 2024**
* Competitors trade at 4.8x-6.7x for medium growth cybersecurity companies
* Theor IP alone has been **independently valued at $50M**
* That’s not counting services revenue, customer base or SaaS revenue
If CheckLight meets its $5M bookings guidance and scales through insurance distribution, the stock rerates naturally
# Clean Balance Sheet, No Games
* No active ATM dilution
* High-interest debt has been **paid off**
* Remaining convertibles are **friendly and extended**
* Management is **not selling shares and has never sold shares**
This is rare for a microcap—CISO is running clean and aligned
**Why It Works Even Without a Squeeze**
Even without any short squeeze mechanics, CISO is positioned for rerating:
* Clear path to profitability
* High-margin product with insurance channel access
* Services backbone with strong retention
* Software with clear enterprise compatibility
This is a value stock in growth stock clothing
And if the float stays tight, fundamentals alone could force price discovery as real investors move in.
# Final Thought
CISO isn’t just a speculative ticker—it’s a maturing cybersecurity company with upside from both performance and perception.
Whether or not the market recognizes it today, the business itself is real, scalable, and increasingly valuable.
Real revenue. Real product. Real potential. This is the meat and potatoes.
This is not financial advice, I am not a financial advisor and this is not a paid article. Due your own due diligence and always protect your capital.
XO,
Penny Queen
If you think I have made an errors or omission, feel free to reach out to [Penny@8digitspeedrun.com](mailto:Penny@8digitspeedrun.com)
Here is my most recent interview on the company from Friday: [https://youtu.be/9aigmiM7sak?si=AjNEUP-eE7LIBYgD](https://youtu.be/9aigmiM7sak?si=AjNEUP-eE7LIBYgD)

# CISO Global: Choose Your Own Adventure
*A real business. A tight float. A setup that could go fundamental… or feral.*
# TL;DR: The Setup
CISO Global ($CISO) is a cybersecurity company trading at a \~$30.76M market cap with:
* **Real revenue**: $39M projected for 2025, EBITDA-positive
* **High-margin software**: 80%+ margin, tied to cyber insurance
* **Insider/retail locked float**: \~90% of shares not trading
https://preview.redd.it/hzexnnwt177f1.png?width=1380&format=png&auto=webp&s=200bcdc7e74c2c5734d0589bb377abda1b1a780a
* **Dark pool activity**: 60–80%+ of daily volume is off-exchange
* **Reg SHO list**: Failures to deliver = structural tension
* **Trading at less than 1x revenue**: Cybersecurity peers typically trade at **4.8x–6.7x** revenue for medium-growth companies
* **Private market multiples**: Acquisitions in cybersecurity often occur at **8–12x revenue**
* **Insiders in blackout**: Management is currently restricted from buying/selling, suggesting material news is pending. My guess is that the end of blackout will also come with an avalanche of insider buying
* **CUSIP change trigger discussed**: Management has previously indicated that they are preparing to take action that could result in a CUSIP change—a corporate event that would force all borrowed shares to be returned, disrupting any hidden or synthetic short positions
This is either a **deep value tech play** or a **short squeeze powder keg**. Maybe both.
See how she runs:
https://preview.redd.it/qy9jzbjw177f1.png?width=1330&format=png&auto=webp&s=4d0e8f2e53116b58bf1d0585846bbc1df4a97dd9
https://preview.redd.it/42xap8jw177f1.png?width=1338&format=png&auto=webp&s=f227634b55438acc91a20a14def7668f6094b416
# 🍽️ Path 1: “Meat & Potatoes” (The Fundamental Thesis)
* ✅ SOC 2 Type II certified
* ✅ $34M services + software guidance
* ✅ 93% client retention
* ✅ 80%+ gross margin product: CheckLight
* ✅ Partnered with insurance firm CAGI
* ✅ $5M+ in high-margin software bookings expected
* ✅ Software alone independently valued at $50M
* ✅ No toxic debt, no ATM usage, insider-aligned
* ✅ Built for Microsoft and AWS environments, with early traction positioning CheckLight for scalable enterprise and cloud deployment
Dive deeper into the full investment thesis scroll down to the full "Meat & Potatoes" breakdown
# 🔥 Path 2: “The Pressure Cooker” (The Short Squeeze Thesis)
* 🔒 \~90% float lock-up:
* 9.9M self-reported by Stocktwits holders
* 18.5M known held by insiders/friends/family
* ❌ Only \~3M shares remain in the wild
* 🔀 60–80% dark pool routing = market maker internalization
* 🧾 On the NASDAQ Reg SHO list (ongoing FTDs)
* 👀 Wild volume patterns: 30M+ volume days with tiny floats
* 📉 Reported short interest is low... but behavior is not
Dive deeper into the full short squeeze thesis, scroll down to read the full "Pressure Cooker" thesis
# Why It Matters Either Way
This isn’t AMC. It’s not GME. It’s not air.
**CISO has a business. Has revenue. Has software.**
But it also has:
* A float tighter than GameStop’s in early 2021
* Enough abnormal behavior to raise questions
* A structure that doesn’t need 100% short interest to break
# Final Thought
If you’re here for fundamentals, there’s a case. If you’re here for fireworks, there’s a fuse. If you’re here for both... well, you’re probably not alone.
https://preview.redd.it/xh1hefi4277f1.jpg?width=4500&format=pjpg&auto=webp&s=6f85aa2c9e166dc2770964032dd65424421a75fc
# 🔥 The Pressure Cooker Thesis: Why CISO May Be Squeeze-Prone
This is not a hype play built on hope. This is a structurally starved float wrapped around an undervalued cybersecurity business. Here’s why CISO ($CISO) is exhibiting key signals of a classic short squeeze setup:
# Locked Float: Almost Nothing Left to Trade
* **Total shares outstanding**: 32.04 million
* **Known long-term holdings**:
* \~18.5 million held by insiders, family, and known associates
* \~ 9.9 million self-reported held by retail (Stocktwits/Substack polls, screenshot-based tracking)
* **Estimated locked float**: \~90%+
* **What’s left?** Fewer than 3 million shares available for actual market trading.
# Why It Matters
This is **GameStop mechanics with microcap friction**. A tiny tradable float makes it easy to trap shorts and hard to find supply in a rising market.
# Abnormal Dark Pool Activity
* **60–80% of daily volume** is regularly routed off-exchange
* **Typical small caps** might see 20–40%
* **What this suggests**:
* Market makers may be **internalizing trades**, reducing visible price discovery
* Could indicate **non-retail participants masking exposure** or **avoiding upward price impact**
When you’re seeing 20M+ volume days on a stock with 3M tradable shares, and most of it is off-exchange, something’s wrong.
# Reg SHO List: Structural Pressure is Building
* CISO has appeared on the **NASDAQ Reg SHO threshold list**, indicating repeated **failures to deliver (FTDs)**
* This means broker-dealers **aren’t delivering borrowed shares on time**
* Regulation requires these positions to be closed within **13 trading days**
# What This Means
Reg SHO status is often a precursor to explosive volatility. It implies **phantom shares or naked shorting**, which cannot be sustained if real demand shows up.
# Short Interest is Reported Low… But May Be Misleading
* **Reported short interest** is not extreme (as of last update)
* But that doesn’t account for:
* **Synthetic shorts** through options
* **Unreported offshore or swap-based positions**
* **Internalized shorting** not yet reflected in disclosures
This is a **float trap** more than a pure short interest play. It’s not about 100%+ shorts. It’s about a lack of exit doors.
# Volume Surges + Illiquidity = Combustible Setup
* We’ve seen multiple **30M+ volume days** despite minimal float
* Price barely moves—why?
* Likely internalization + short pressure + volume masking
* Price suppression may be active or incidental, but it’s real
When the volume flips back to lit exchanges, and supply can’t meet demand, the spring can snap.
# Timeline Catalyst: Time-Based Exposure Risk
* Each day CISO remains on Reg SHO **raises the stakes**
* If retail or institutional interest rises, shorts may be forced to cover under duress
* No dilution means **no relief valve** for those caught short
# Precedents & Analogues
* **LODE (2021)**: Ran from \~$1 to $9 on float lockup + speculative flow
* **HKD**: Exploded on no fundamentals, purely float scarcity
* **GME**: Iconic, but what made it dangerous was float structure, not just short interest
CISO has:
* Real revenue
* Real product
* Real lockup
# Conclusion: The Case for a Squeeze
CISO is not guaranteed to squeeze. But structurally:
* The float is unavailable
* The trading is opaque
* The regulatory pressure is building
Even without a squeeze, these factors often force **unpredictable price action**. Add news or increased interest, and this setup has potential to move quickly.
It’s a spring wound tight—not by hype, but by math.
# The "Meat & Potatoes" Thesis: Why CISO's Fundamentals Matter
https://preview.redd.it/rp42xdr6277f1.png?width=1024&format=png&auto=webp&s=c05f290da55b3315a2845bbe6911a885a7e8a60d
CISO Global ($CISO) isn’t just a possible squeeze setup—it’s a real cybersecurity company with real revenue, sticky software, and growing relevance. Here’s why the fundamentals justify serious attention.
# Real Revenue, Not Projections
* **$39 million projected revenue** in 2025
* 2024 already marked the company’s **first EBITDA-positive quarter**
* Revenue is split between:
* **Cybersecurity services** (recurring)
* **Proprietary software** (high margin, scalable)
This isn’t hype revenue. These are real enterprise contracts and recurring customer relationships.
# Recurring and Retained
* **75% of revenue is recurring**, primarily from managed cybersecurity services
* **Client retention rate is 93%**
This gives CISO a base that grows organically and reduces customer churn risk—a major valuation driver in the SaaS world.
# CheckLight: A High-Margin Growth Engine
* **CheckLight** is CISO’s proprietary endpoint detection & response (EDR) solution
* It’s being distributed through a **cyber insurance partner (CAGI)**
* CheckLight is:
* 80%+ gross margin
* Bundled with policies
* Designed for small and mid-sized enterprises
* **$25/month** per computer, server, firewall or connected endpoint
This turns CISO from a services firm into a **scalable SaaS/software player**
# Built for Enterprise, Backed by Giants
* CheckLight is compatible with **Microsoft** and **Amazon AWS** environments
* This enables **broad enterprise adoption** and future integration with large IT ecosystems
* These relationships increase trust and accelerate enterprise pipeline growth
# Undervalued by the Numbers
* CISO’s **current market cap is \~$30.76M, less than 1x revenue**
* **39m Projected 2025 revenue, 30.8m revenue in 2024**
* Competitors trade at 4.8x-6.7x for medium growth cybersecurity companies
* Theor IP alone has been **independently valued at $50M**
* That’s not counting services revenue, customer base or SaaS revenue
If CheckLight meets its $5M bookings guidance and scales through insurance distribution, the stock rerates naturally
# Clean Balance Sheet, No Games
* No active ATM dilution
* High-interest debt has been **paid off**
* Remaining convertibles are **friendly and extended**
* Management is **not selling shares and has never sold shares**
This is rare for a microcap—CISO is running clean and aligned
**Why It Works Even Without a Squeeze**
Even without any short squeeze mechanics, CISO is positioned for rerating:
* Clear path to profitability
* High-margin product with insurance channel access
* Services backbone with strong retention
* Software with clear enterprise compatibility
This is a value stock in growth stock clothing
And if the float stays tight, fundamentals alone could force price discovery as real investors move in.
# Final Thought
CISO isn’t just a speculative ticker—it’s a maturing cybersecurity company with upside from both performance and perception.
Whether or not the market recognizes it today, the business itself is real, scalable, and increasingly valuable.
Real revenue. Real product. Real potential. This is the meat and potatoes.
This is not financial advice, I am not a financial advisor and this is not a paid article. Due your own due diligence and always protect your capital.
XO,
Penny Queen
If you think I have made an errors or omission, feel free to reach out to [Penny@8digitspeedrun.com](mailto:Penny@8digitspeedrun.com)
Here is my most recent interview on the company from Friday: [https://youtu.be/9aigmiM7sak?si=AjNEUP-eE7LIBYgD](https://youtu.be/9aigmiM7sak?si=AjNEUP-eE7LIBYgD)

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