Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.65, read 2026-10-27
Ethical does not pass the values gate
Price11.32 USD
Fair value22.64
Ethical score30.0/100
Our investment reviews on this name
2026-10-11Read Markdown15.09-25.0% to today ✓Accumulation gives way to Markdown first Markdown read since September
2026-10-02Read Accumulation15.09-25.0% to today Markdown gives way to Accumulation after a 14% slide in 6 weeks
2026-08-18Read Markdown17.62-35.7% to today ✓Accumulation gives way to Markdown after a 32% slide in 7 weeks
2026-07-02Read Accumulation26.06-56.6% to today First review on file: Accumulation
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.
TeraWulf Inc holds its Markdown at $11.32. Elevated stress, defensive posture warranted, held for 2 days.
As held on the ledger · 2026-10-23
Phase
Markdown · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 2 days
Price at the screen
$11.32
Valuation
N/A trailing · -17.49 forward price to earnings
Values screen
FAIL· score 30.0
Beta
4.25
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Capital Markets
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Capital Markets
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
TeraWulf 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 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when WULF's ethical verdict changes
Today WULF 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.
Free, no account needed. Every email has a link to stop.
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 100.0% margin of safety to the base estimate.
Third-party analyst targets: 25 covering, consensus Strong Buy. The average target sits +174% 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 2026-10-23 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
Bitcoin miner trips every screen at once
Picture a facility chewing power just to mint coins that swing with every tweet. TeraWulf lands in an excluded sector and the numbers give no reason to stretch the rules. Revenue is already shrinking, margins sit at zero and return on equity has collapsed past two thousand percent negative, so the ethical block is not the only reason we pass.
A forward multiple above ninety times on fading sales leaves almost no margin of safety at the current price. The narrow moat and complete absence of profits turn the strong-buy chorus from seventeen analysts into noise rather than signal. Opportunity rating stays at none for a reason.
Currency and energy swings could still move the shares, yet the combination of sector exclusion and broken fundamentals keeps any position off limits. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
WULF 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
2026-10-25Markdown$11.68+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 D. Technically it is momentum reading oversold. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
2026-10-18Markdown$11.68-22.6%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 22.6% 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 holding around 72% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
2026-10-11Markdown · changed$15.09+0.0%Entry 7
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 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 holding around 72% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 6.5% 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 holding around 72% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
2026-09-17Markdown$16.14-8.4%Entry 5
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.4% 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 holding around 72% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
2026-08-18Markdown · changed$17.62-32.4%Entry 4
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 32.4% 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 holding around 72% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
2026-07-18Accumulation$26.06+0.0%Entry 3
Our 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 C. Technically it is holding around 72% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 413%. Our forward projection puts the odds of a 10% gain over the next month near 46%. The street (16 analysts) rates it strong buy, with a mean price target of $36.
2026-07-03Accumulation$26.06+0.0%Entry 2
Our 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.
2026-07-02Accumulation$26.06Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. 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.
