Paper trail

December 2025

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

WLFC—WILLIS LEASE FINANCE CORP

All industries

Then · 31 Dec 2025
Discovery Gap Very high (100/100)·AIR Constructive (61/100)
Now · 7 Oct 2026
Discovery Gap Very high (99/100)·AIR Constructive (65/100)·Still in top 5

Since then: Catalyst (16 Sep 2026)·Catalyst (24 Aug 2026)·Catalyst (4 Aug 2026)·Commercial traction (3 Aug 2026)·Catalyst (29 Jul 2026)·Commercial traction (10 Jul 2026)

DJT—Trump Media & Technology Group Corp.

Software / SaaS

Then · 31 Dec 2025
Discovery Gap Very high (99/100)·AIR Cautious (42/100)
Now · 7 Oct 2026
Discovery Gap Very high (76/100)·AIR Weak (37/100)·Left the top 5

Since then: Commercial traction (30 Sep 2026)·Catalyst (10 Aug 2026)·Competitive position (7 Aug 2026)·Management change (10 Jul 2026)·Catalyst (8 May 2026)·Catalyst (21 Apr 2026)

CELH—Celsius Holdings, Inc.

All industries

Then · 31 Dec 2025
Discovery Gap Very high (99/100)·AIR Neutral (60/100)
Now · 7 Oct 2026
Discovery Gap Very high (82/100)·AIR Cautious (49/100)·Left the top 5

Since then: Management change (10 Aug 2026)·Catalyst (6 Aug 2026)·Commercial traction (15 Jul 2026)·Catalyst (15 Jul 2026)·Catalyst (7 May 2026)·Catalyst (26 Feb 2026)

NEXT—NextDecade Corp

All industries

Then · 31 Dec 2025
Discovery Gap Very high (99/100)·AIR Weak (31/100)
Now · 7 Oct 2026
Discovery Gap Very high (90/100)·AIR Weak (35/100)·Left the top 5

Since then: Management change (29 Sep 2026)·Catalyst (2 Jul 2026)·Commercial traction (2 Jul 2026)·Catalyst (17 Jun 2026)·Commercial traction (17 Jun 2026)·Management change (3 Jun 2026)

FOUR—Shift4 Payments, Inc.

All industries

Then · 31 Dec 2025
Discovery Gap Very high (99/100)·AIR Neutral (51/100)
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)