Added to YB: 2026-08-20
Pitch date: 2026-06-05
TOYO [bearish]
TOYO Co., Ltd.
+72.91%
current return
Author Info
No bio for this author
Company Info
TOYO Co., Ltd. engages in the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and other stages of the solar power supply chain in Asia and the United States.
Market Cap
$244.4M
Pitch Price
$16.00
Price Target
6.00 (+38%)
Dividend
N/A
EV/EBITDA
2.16
P/E
2.76
EV/Sales
0.59
Sector
Semiconductors and Semiconductor Equipment
Category
special_situation
TOYO Co., Ltd. - $TOYO (short)
TOYO (short): Cayman solar cell maker, 200% YTD on sponsored research/Russell inclusion. Core short: June 11-12 Commerce likely initiates First Solar's 781(b) anti-circumvention case (5-for-5 record) on Ethiopian cells, attaching ~254% duties that freeze US off-take. Also: going-concern, $156M WC deficit, parent Abalance TSE fraud enforcement, no product warranty, 76% rev from 2 customers, CEO exit day SEC insider rules tightened + $30M ATM = engineered insider distribution. Base case ~$6 (60-65% down), tail $0-2. 6.9% SI, uncrowded. Risk: Houston/45X, squeeze on 8.7M float.
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