TXG
10x Genomics, Inc. develops and sells instruments, consumables, and software for analyzing biological systems in the United States, rest of the Americas, Europe, the Middle East, Africa, China, and th...
Why We’re Backing Exultant Mining (ASX: 10X)
We’re backing Exultant Mining (ASX: 10X) with our own money, and adding it to the Equities Club portfolio.
At a $7 million market cap with $4.3 million in cash, the market is valuing 10X’s projects at roughly $2.7 million. That looks too cheap to us.
The early-stage explorer listed on the ASX at 20 cents in December 2025. No fanfare. No hype cycle. No crowded register full of day-one flippers.
Multiple Australian projects chasing gold, silver and copper in proven districts, all loaded with high-grade historical hits that nobody has gone back to test with modern gear. Drilling starts in weeks.
Since then, gold is up 18%. Silver is up 24%. Copper is up 9%. But the share price has drifted the other way, down to 18.5 cents.
That disconnect caught our eye.
Most of the risk feels like it's already baked into the price. The next 6 to 12 months of drilling could change how this company is valued entirely.
Why Our Analyst Turned Bullish on TXG After a Three-Year Downcycle
Hedgeye analyst Tom Tobin turned bullish on 10x Genomics (TXG) after a three-year downcycle. The stock has rallied significantly since his long call in June 2025. The bullish thesis is based on several factors: the stock was trading near cash value, the NIH Tracker projected a turn in funding dynamics, and the spatial genomics market is showing signs of acceleration. The macro environment is also becoming more favorable for the healthcare sector. Tobin believes the cycle for spatial genomics will be a decade or more, and the company has significant upside potential.