Insider Buys & Red Flags: Week of Jan 5

Happy New Year.

I spent the holidays doing something I rarely allow myself: stepping back. Not from the work, but from the noise. I wanted to get clear on what this newsletter should actually be, and what it shouldn't.

Here's where I landed: We're rebranding. Small Cap Newsroom is now Blank Capital Research.

The name change reflects a sharper focus. We're not trying to be a high-volume newsroom chasing every headline. What we do best is dig, institutional-quality research on stocks that most of Wall Street ignores. That's the work. Finding the best opportunities and helping you act on them.

What stays the same: The Sunday evening newsletter isn't going anywhere. You'll still get the week's curated headlines, what to watch for in the days ahead, insider buy signals, and the red flag radar.

What's new: We're launching a subscription tier for readers who want the deep dives—the full forensic analysis, the footnotes nobody else reads.

January will be busy as we build this out. In the meantime, we have a new home: www.blankcapitalresearch.com. Take a look. Tell me what you think.

Here's to building your best portfolio this year.

Enjoy this week's newsletter.

-Marques Blank

Quick Hits ⚡

Keeping you updated with the headlines moving the market this week.

The Exit: DigitalBridge Group (DBRG) surged ~32% on Monday after agreeing to be acquired by SoftBank for $4.0 billion. The $16/share all-cash offer validates the thesis that "AI plumbing" remains the most strategic asset class, with institutions now paying a premium for physical infrastructure.

The Reversal: Sable Offshore (SOC) rallied ~20% on Friday after the 9th Circuit Court of Appeals denied the final motion to block its Santa Ynez pipeline restart. The ruling clears the path for production in Q1 2026—a binary outcome that the market had priced as "unlikely" until this week.

The Winner: Cytokinetics (CYTK) enters the new year with momentum following the late-December FDA approval of aficamten. With the "clinical risk" finally off the table, the narrative shifts purely to commercial execution, or more likely, a buyout by a major pharma suitor.

Follow The Money 💰

(What the Smart Money is doing right now. Add these to your watchlist.)

TriplePoint Venture Growth (TPVG) | The Book Value Defense

The Signal: CEO James Labe & President Sajal Srivastava bought $670,000 combined.
Why It Matters: This BDC lends to venture-backed startups. The market fears 2026 defaults, but the executives who wrote the loans are betting $670k of their own cash that the portfolio is sound.
The Move: Aggressive Long. Captures a 14% yield with 50% upside to Net Asset Value.

Nike (NKE) | The "Turnaround" Cluster

The Signal: A massive $4M+ combined purchase by the new CEO and a key Director.
- Director (and Apple CEO) Tim Cook bought ~$3,000,000 in stock.
- CEO Elliott Hill bought ~$1,000,000 in stock.
Why It Matters: This is the definition of a "bottom signal." Nike has been battered by competition (On, Hoka) and poor earnings. Tim Cook rarely buys open-market shares of the boards he sits on. For him to deploy $3M, combined with the new CEO putting his own "skin in the game," suggests they believe the bad news is fully priced in and the 2026 turnaround strategy is valid.
The Move: Long / Leaps. Bet on the brand recovery.

F&G Annuities & Life (FG) | The High-Conviction Breakout

The Signal: CEO Christopher Blunt bought ~$148,000 worth of stock on Jan 2, 2026 (Friday).
Why It Matters: Most insiders buy when a stock crashes (to prop it up). It is rare to see a CEO buy when a stock is performing well or near highs. This signals "momentum." F&G is an insurance play benefiting from higher-for-longer annuity demand. The CEO buying here suggests he expects the next earnings print to beat expectations significantly.
The Move: Trend Following. Buy strength.

4. LGL Group (LGL) | The "Superinvestor" Pocket Pick

The Signal: Legendary value investor Mario Gabelli (via his funds and personal stake) bought $453,000 worth of stock on Dec 30, 2025.
Why It Matters: LGL is a tiny defense/industrial components manufacturer. Gabelli is famous for spotting undervalued assets that eventually get sold or taken private. When a "Superinvestor" increases their stake in a micro-cap by nearly half a million dollars during a holiday week, they are positioning for a specific corporate event or value realization.
The Move: Watchlist/Speculative Long. Follow the "smart money" whale.

The Red Flag Radar 🚩

(Hidden risks in the fine print. These are your sell signals.)

Corcept Therapeutics (CORT) | The Regulatory Guillotine

The Signal: The FDA issued a "Complete Response Letter" (a rejection) for their key drug relacorilant on Dec 31, 2025.
Why It Matters: This is the worst-case scenario for a biotech. Investors were pricing in approval; instead, the FDA demanded more data, which likely means another expensive, multi-year clinical trial. The growth thesis is effectively paused indefinitely.
The Move: Avoid/Sell. The stock has already collapsed ~50%, but "dead money" stays dead for a long time after a rejection like this.

New Era Energy (NUAI) | The "Shell Game" Investigation

The Signal: A securities fraud investigation was announced on Dec 30, 2025, following a lawsuit by the New Mexico Attorney General alleging a fraudulent oil-and-gas scheme.
Why It Matters: The allegations are severe—claiming the company used shell entities to dodge environmental liabilities and that insiders enriched themselves while the stock plummeted. The stock dropped 41% in a single day (Dec 29). When a State AG gets involved, the equity often goes to zero.
The Move: Hard Sell. Do not try to catch the falling knife.

UiPath (PATH) | The Founder's Fade

The Signal: Co-founder & CEO Daniel Dines sold ~$740,000 worth of stock on Jan 2, 2026.
Why It Matters: While not a massive amount for a billionaire, selling shares in the first trading days of the new year sends a weak signal to the market. Growth stocks like UiPath rely entirely on confidence; when the founder chips away at his stake immediately after the holidays, it suggests he sees better opportunities for his cash elsewhere.
The Move: Watch Closely. If the stock breaks technical support, this insider selling will be cited as the catalyst.