Sew one button, doesn't make u a tailor; cook one meal, doesn't make u a chef; but f* one horse and u r a horsef*er for all of history...

$EOSE | How I think about investing when confidence is disappearing. (1/4)🧵 I’ve been getting quite a few questions lately about $EOSE. People are frustrated, worried, losing confidence, or wondering whether they should sell now and buy back lower. I understand why. The stock is trading around $1.65, management keeps disappointing investors, and despite the progress the company is making, the market seems completely unimpressed. So I thought it might be useful to share how I think about investing. Not to convince anyone to buy, sell, or hold $EOSE. But because I think the way we deal with uncertainty, risk, and time has an enormous influence on our investment decisions. 1. The stock price is not the business. A falling stock price doesn’t automatically mean the business is deteriorating. Just as a rising stock price doesn’t necessarily mean things are going well. I try to separate those two things. When I look at Eos today, I see a company that has made enormous progress compared to where it was a few years ago. Manufacturing capabilities, production capacity, actual deliveries, revenue. The progress is real. And there’s something else worth considering. This isn’t just happening to $EOSE. I follow a lot of tickers, and a surprisingly large number of them are trading at or near their 52-week lows. That doesn’t automatically mean they’re all undervalued. But it does make me question how much of what we’re seeing is specific to Eos and how much reflects broader market sentiment. Because when a stock falls, it’s tempting to look at the company and assume something must be fundamentally wrong. Sometimes that’s true. Sometimes the market is simply repricing risk across an entire group of companies. Understanding the difference matters. Does all this mean Eos is worth more than its current market cap? That’s a separate question. But I don’t let the stock price tell me what to think about the business. 2. I have serious doubts about management. Let’s be clear about that. For years, management has repeatedly failed to deliver on its own expectations. They keep changing the numbers and metrics they emphasize, seemingly choosing whichever comparison looks best that particular quarter. And once again, we’re watching them gradually walk back guidance. I find that genuinely astonishing. You would think they’d have learned from previous mistakes by now. Sometimes I wonder whether they’re simply terrible at anticipating setbacks or whether they don’t fully understand the challenges they’re facing. Maybe those aren’t even two different things. So no, I don’t blindly trust management. But over the past decades , I’ve learned something important. My confidence in management and my confidence in the underlying opportunity are two very different things. They don’t always move in the same direction. I can have serious doubts about management while simultaneously recognizing enormous progress in the business. That doesn’t make management irrelevant. Especially not when execution and financial runway are so critical. But it does mean I refuse to let my frustration with management blind me to what’s actually happening.

$CRWV - *COREWEAVE CEO BLAMES SHARE DROP ON MARKET ACTING 'IRRATIONALLY'

$EOSE my average vacation in the last 3 years has $EOSE performance of about -25%, and $SPY of about -7%. Truly impressive consistency

Texas just froze new data center permits: - Its queue went from 63 GW to 474 GW in 18 months, more than 5x record peak demand - Only 9.5 GW is approved and about 4.3 GW is actually running - The rest is duplicates, speculation, and developers who have never plugged in a GPU a16z's @rmcentush on why the grid can't build for that many maybes: a16z.news/p/why-texas-is-mak…

*BIGGEST US GRID SUSPENDS PLAN FOR NEW DATA CENTER POWER AUCTION