Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.31, read 2026-10-28
Ethical does not pass the values gate
Price9.85 USD
Fair value11.16
Ethical score30.0/100
Our investment reviews on this name
2026-10-18Read Markdown9.47+4.0% to today Accumulation gives way to Markdown after a 33% slide in 2 weeks
2026-10-02Read Accumulation14.09-30.1% to today Markup gives way to Accumulation after a 16% rise in 3 weeks
2026-09-10Read Markup12.18-19.1% to today Markdown gives way to Markup after a 79% rise in 5 weeks
2026-08-09Read Markdown6.81+44.6% to today Markup gives way to Markdown after a 22% slide in 5 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Hyperliquid Strategies Inc. holds its Markdown at $9.85. The statistical read favours the sellers, held for 14 days.
As held on the ledger · 2026-10-27
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 14 days
Price at the screen
$9.85
Valuation
3.07 trailing · 26.62 forward price to earnings
Values screen
FAIL· score 30.0
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: financial services
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Hyperliquid Strategies does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-29. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when PURR's ethical verdict changes
Today PURR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-27 screen. The gold marker is the market price at the same screen. A 13.4% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus None. The average target sits +93% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-27 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Crypto Treasury Pitch Collides With Ethical Barrier
Picture a firm whose sole purpose is to accumulate, stake and optimise yield on one volatile token for outside investors. That is the entire business model on offer. We pass immediately because the ethical screen flags the financial services sector outright.
The forward multiple of 2.7 times earnings looks eye-catching next to zero profit margins and an unknown competitive position. Three analysts offer a median target of eleven dollars against the current six sixty eight price, yet none of those numbers overcome the sector prohibition.
Currency, regulatory and token-price swings add further layers of uncertainty on top of the ethical red line. This remains a clear avoid regardless of any apparent valuation gap. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PURR trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-30Markdown$9.85+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Markdown$9.85+4.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 4.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$9.47+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10.
2026-10-18Markdown · changed$9.47-32.8%Entry 8
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 32.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10.
2026-10-11Accumulation$14.09+0.0%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. 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 excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 15.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10. Since the last review it its composite score eased.
2026-09-10Markup · changed$12.18+78.9%Entry 5
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 78.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10.
2026-08-09Markdown · changed$6.81-21.7%Entry 4
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 21.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10.
2026-07-18Markup$8.70+0.0%Entry 3
Our analysis 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 excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 54%. The street (3 analysts) rates it strong buy, with a mean price target of $10.
2026-07-03Markup$8.70+0.0%Entry 2
Our analysis 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 excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.