May 2025

The five widest Discovery Gaps at the end of May 2025, revisited today from the same public filings. Descriptive, not predictive.

APLD—Applied Digital Corp.

Software / SaaS

Then · 31 May 2025: Discovery Gap Very high (99/100)·AIR Cautious (49/100)
Now · 7 Oct 2026: Discovery Gap Very high (98/100)·AIR Cautious (48/100)·Left the top 5

Since then: Catalyst (27 Jul 2026)·Catalyst (26 Jun 2026)·Catalyst (26 Jun 2026)·Commercial traction (26 Jun 2026)·Commercial traction (16 Jun 2026)·Catalyst (16 Jun 2026)

ORKA—Oruka Therapeutics, Inc.

Biotech

Then · 31 May 2025: Discovery Gap Very high (99/100)·AIR Cautious (45/100)
Now · 7 Oct 2026: Discovery Gap High (28/100)·AIR Neutral (59/100)·Left the top 5

Since then: Management change (24 Aug 2026)·Catalyst (10 Aug 2026)·Catalyst (29 May 2026)·Catalyst (27 Apr 2026)·Catalyst (27 Apr 2026)·Catalyst (27 Apr 2026)

VCTR—Victory Capital Holdings, Inc.

All industries

Then · 31 May 2025: Discovery Gap Very high (98/100)·AIR Cautious (49/100)
Now · 7 Oct 2026: Discovery Gap Very high (84/100)·AIR Attractive (71/100)·Left the top 5

Since then: Catalyst (11 Sep 2026)·Catalyst (26 Aug 2026)·Catalyst (25 Aug 2026)·Commercial traction (25 Aug 2026)·Catalyst (12 Aug 2026)·Catalyst (5 Aug 2026)

FOUR—Shift4 Payments, Inc.

All industries

Then · 31 May 2025: Discovery Gap Very high (98/100)·AIR Neutral (58/100)
Now · 7 Oct 2026: Discovery Gap Very high (80/100)·AIR Cautious (48/100)·Left the top 5

Since then: Catalyst (6 Aug 2026)·Catalyst (8 Jul 2026)·Commercial traction (8 Jul 2026)·Catalyst (7 May 2026)·Management change (3 Mar 2026)·Catalyst (26 Feb 2026)

QXO—QXO, Inc.

All industries

Then · 31 May 2025: Discovery Gap Very high (98/100)·AIR Cautious (49/100)
Now · 7 Oct 2026: Discovery Gap Very high (99/100)·AIR Neutral (52/100)·Left the top 5

Since then: Catalyst (21 Aug 2026)·Management change (21 Aug 2026)·Catalyst (13 Aug 2026)·Catalyst (23 Jul 2026)·Catalyst (1 Jul 2026)·Management change (1 Jul 2026)