An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.
VERDICT
The label
Markup
read at $1.80
Coincheck Group N.V. holds its Markup at $1.80.
PHPhase · the trend structure carries the Markup label
INInsiders · no filings inside 60 days, left as found
POPositioning · no disclosures inside 60 days, left as found
OPOptions · no verdict drawn today, left as found
SCScreen · does not pass the values gate
edge confirmed
edge broken
edge forming
Each arm is one independent read. Conviction is not a single call, it is how many edges converge.
INVESTOR
The investor read · the season, not the day
As held on the ledger · 2026-05-18
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 17 days
Price
$1.80
Valuation
0.00 trailing · 0.00 forward price to earnings
Values screen
FAIL
Beta
N/A
OPPORTUNITY
The opportunity · what the numbers say it is worth
Price history & projections · where it has been, where the models see it going
Revenue growth
16.50%
Profit margin
0.01%
Debt to equity
0.10
Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.
SCREEN
The values screen, explained · five checks, plain English
This company is excluded by both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. It fails on both:
The common standard· AAOIFI Used by most halal investing apps✗ DOES NOT PASS
Our stricter standard· asset-based The one Titan applies✗ DOES NOT PASS
Why it fails. The problem is its business activity: conventional financial services. Because both standards agree on this, it is a clear exclusion, not a borderline case.
Business activityIts core business involves an activity the values screen does not clear.Fail
Debt loadInterest-bearing debt is 485.8% of its assets, above the one-third ceiling the screen allows.Fail
Interest-bearing cashInterest-bearing cash and securities are 3,694.8% of assets, above the one-third limit.Fail
ReceivablesMoney owed to the company is 0.0% of assets, under the 49% limit.Pass
Revenue purityOnly 0.0% of revenue comes from non-compliant sources — under the 5% line.Pass
Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.
PLAIN
The business, in plain words · what the numbers mean
Why it gives us pause
On our numbers, the price already runs ahead of the business.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
TRADE
Where & how to trade · wherever in the world you are
CNCK trades on Nasdaq. As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.
TRADER
The trader read · the latest dated commentary
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 68%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (2 analysts) rates it buy, with a mean price target of $3. Entered 2026-07-25 · Markup
JOURNAL
The dated journal · newest first, never edited
2026-07-25Markup$1.80+0.0%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 68%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (2 analysts) rates it buy, with a mean price target of $3.
2026-07-18Markup$1.80+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 68%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (2 analysts) rates it buy, with a mean price target of $3.
2026-07-03Markup$1.80+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$1.80Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
INSIDERS
The insider ledger · Form 4 filings, as filed
Most recent filings · CNCK
Date
Insider
Title
Type
Shares
Value
2026-05-15
ST.-JEAN PASCAL
Chief Executive Officer
711,216
·
2026-04-20
STONE MARC J
Officer
2,576
·
2026-04-20
KATSUYA TOSHIHIKO
Chief Operating Officer
1,701
·
2026-04-20
HASUO SATOSHI
Officer
2,919
·
2026-04-20
SANDBERG JASON
Chief Financial Officer
2,919
·
2024-12-10
GHISALLO CAPITAL MANAGEMENT LLC
Beneficial Owner of more than 10% of a Class of Security