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Forum Markets Incorporated (FRMM) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

$3.27 -5.22% NASDAQ β€’ Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $3.23

Forum Markets Incorporated (FRMM) carries a Roarable Rating of E (Strong Sell) with 25/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E β€’ RED ALERT Cap $45.5M
πŸ“€ Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
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πŸ€– Mara Quenwick β€’ AI Quant Lead (Click for Instant Brief) Is FRMM stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
β–Ό

As of 2026-11-03, Forum Markets Incorporated (NASDAQ: FRMM) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 25/100 at a spot price of $3.27 (-5.22% 1D, market cap $45.5M). Pillar breakdown: Fundamental Cash Engine 4/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 7/20, and Executive Insider Alignment 3/20. Across 1097 tracked Financials issuers, FRMM ranks #1063 in composite RQD confidence.

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πŸ€– Ellis Vennor β€’ AI Peer & Flow Quant (Click for Instant Brief) How does FRMM compare to NCTY and STEX in the Financials sector?
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Within the Financials sector (Finance: Consumer Services), FRMM carries a Roarable E (25/100 RQD), trailing P/E of N/A, gross margin of β€”, and ROIC of -35.0%. By comparison, NCTY (The9 Limited American Depository Shares) holds a E grade (18/100 RQD, P/E N/A, ROIC -35.0%, cap $45.7M) and STEX (Streamex Corp.) posts a E grade (30/100 RQD, P/E N/A, ROIC -35.0%, cap $45.2M). Among the 5-stock peer group, FRMM leads on earnings multiple (N/A) while AVX leads on capital efficiency (-10.4% ROIC).

βœ“ Pre-computed one-to-many AI Quant brief
πŸ€– Gideon Ashmere β€’ AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for FRMM?
β–Ό

Per FRMM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001690080), Forum Markets Incorporated generated $6.5M in revenue (-47.1% YoY), -$450.5M in net income, and -$26.1M in free cash flow against $306.3M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

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INTERACTIVE SCENARIO DECK:
πŸ›‘οΈ Portfolio Crash X-Ray
EXT / AFTER-HRS: $3.23 (-1.13%)🧬 Dilution Drag (+1.28% YoY Shares)βš™οΈ Cash Engine: 4/20 (E) β€’ 0% FCF Margin
Verify 90D Bucket Audit β†’
πŸ“Š Historical Track Record Warning: Scores below 50 (25/100 Β· E) historically underperformed SPY in 71% of rolling 90-day windows (-10.7% avg 90D alpha vs SPY β€’ 29.0% hit rate).
Audit Bucket Track Record β†’
RQD QUANT TACHOMETERRED ALERT β€’ E
025507510025
3-of-3 Quant Analysts Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) β€” not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw E Β· Rk D-
Cash (4)Whales (3)SEC (8)Macro (7)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-15% Base Target
$20 Bull$3 Base$2 Bear
πŸ“¬ FREE FRMM RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: β€” (No Active Options Snapshot on file for FRMM)Realized 20D OHLCV Swing Band: Β±12.5%
Deterministic 5-Pillar Attribution (25/100 Composite)
πŸ” WHY FRMM SCORES 25/100 (E) β€” TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
β–² #1 Bullish Driver: SEC 10-K Forensic Risk+8/20 pts (32% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) β€’ Piotroski F-Score 1/9

β–² #2 Bullish Driver: Macro Regime Fit+7/20 pts (28% of score)

FRED Regime Γ— Technicals: 9% of 52W Range β€’ RSI-14 at 38.6 (NEUTRAL RANGE)

β–Ό #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+1.28% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

πŸ“ˆ PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 β†’ Q2 β†’ Q3 β†’ Current
Q1 (-3Q)
33
Grade E$4.19-22.4% Next Q
Q2 (-2Q)
30
Grade E$3.25+7.4% Next Q
Q3 (-1Q)
28
Grade E$3.49-6.3% Next Q
Current
25
Grade E$3.27-10.7% Hist 90D Ξ±
Trajectory: E (33) β†’ E (25)Full Audit β†’
βš”οΈ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

βš”οΈ Adversarial Opposing Case: What Could Spark a FRMM Turnaround Squeeze

Gideon Ashmere Forensic Desk β†’

While FRMM currently carries a cautious 25/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

πŸš€ Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

πŸš€ Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($4.52) and Max Pain ($3.43) forces dealer call-delta covering toward $20.42.

πŸš€ Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+1.28% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $FRMMβ€’ $2.4M Crowd Pool β€’ Kalshi / Polymarket Composite
Contract: β€œFRMM Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 25%NO 75%Trade / Inspect Odds β†’
SEC FORM 4 Γ— 13F HEDGE FUNDS Γ— CONGRESSIONAL STOCK ACT

FRMM Smart-Money Thermometer: NET EXECUTIVE TRIMMING / PROFIT-TAKING

Explore All 13F & Congress Whales β†’
β–² Disclosed Buys: 0 ($0)β–Ό Disclosed Sales: 0 ($0)

Wide-Open SEC Form 4, 13F & Congressional Disclosure Ledger (FRMM)

No recent open-market Form 4 cluster sales or emergency dumps flagged on FRMM. Visit the Global 13F & Congressional Whale Ledger for cross-market smart-money filings.

ON-DEMAND RQD QUANT WORKSHOP β€’ SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring FRMM)

  • βœ“Walkthrough of FRMM's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • βœ“3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
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FRMM // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -40.44%β–Ό DESCENDING CHANNEL
2026-11-03O $3.71H $3.71L $3.27C $3.27VOL 76.7K
RES: $4.12SUP: $2.69SMA50: $4.52SMA200: $4.49
$15.95$12.46$8.96$5.46$1.96RES $4.12SUP $2.69$3.272026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

FRMM Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

πŸ¦‹ FRMM Butterfly Map β†’ + Track FRMM β†’
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. -47.1% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on FRMM today. View full Setup Ledger β†’

πŸ¦‹ Documented & Second-Order Butterfly Connections Open Graph β†’

No direct multi-tier Butterfly edges indexed yet for FRMM. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for FRMM today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk β†’
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT β€’ SEC EDGAR XBRL Γ— RQD PEER BENCHMARK

πŸ“Š Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (FRMM)

Financials Rank #1063 of 1097 βš”οΈ NCTY vs FRMM Full Matrix β†’

1. Head-to-Head Financials Peer Comparison (FRMM vs. NCTY, STEX, AVX, AVAT)

Industry: Finance: Consumer Services (156 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, Forum Markets Incorporated (FRMM) ranks #1063 by composite RQD confidence (25/100, grade E) and #1016 by equity capitalization ($45.5M). Within this direct 5-issuer industry benchmark cohort, FRMM leads on earnings valuation at N/A trailing P/E, while AVX leads on capital efficiency and profitability with -10.4% ROIC and β€” gross margin. AVAT currently holds the highest overall quantitative score in the immediate peer group at 44/100 (D) compared with FRMM at 25/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
FRMM ACTIVE
Forum Markets Incorporated
E 25/100 β€” β€” -35.0% -5.22% $45.5M Benchmark Subject
NCTY
The9 Limited American Depository Shares
E 18/100 β€” β€” -35.0% -10.70% $45.7M /ncty-vs-frmm β†’
STEX
Streamex Corp.
E 30/100 β€” β€” -35.0% -3.97% $45.2M /stex-vs-frmm β†’
AVX
Avax One Technology Ltd.
E 29/100 β€” β€” -10.4% -2.88% $45.1M /avx-vs-frmm β†’
AVAT
Avalanche Treasury Corporation (Class A)
D 44/100 β€” β€” β€” -14.55% $45.0M /avat-vs-frmm β†’

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K β€’ FILED 2025-12-31 β€’ CIK 0001690080 β†—

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Forum Markets Incorporated (FRMM) reported GAAP revenue of $6.5M (-47.1% vs. FY2024 revenue of $12.4M , and -82.7% cumulative change since FY2023) , GAAP net income of -$450.5M, operating cash flow of -$26.1M, and free cash flow of -$26.1M (-2124.8% YoY). On the balance sheet, FRMM closed FY2025 with $306.3M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 1/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $6.5M -$450.5M -$26.1M -$26.1M $306.3M β€”
FY2024 (FY) 2024-12-31 $12.4M -$6.2M -$1.2M -$1.2M $12.8M β€”
FY2023 (FY) 2023-12-31 $37.7M -$19.9M -$10.9M -$10.9M β€” β€”

3. FRMM Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

βœ“ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is FRMM stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Forum Markets Incorporated (NASDAQ: FRMM) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 25/100 at a spot price of $3.27 (-5.22% 1D, market cap $45.5M). Pillar breakdown: Fundamental Cash Engine 4/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 7/20, and Executive Insider Alignment 3/20. Across 1097 tracked Financials issuers, FRMM ranks #1063 in composite RQD confidence.

How does FRMM compare to NCTY and STEX in the Financials sector?

Within the Financials sector (Finance: Consumer Services), FRMM carries a Roarable E (25/100 RQD), trailing P/E of N/A, gross margin of β€”, and ROIC of -35.0%. By comparison, NCTY (The9 Limited American Depository Shares) holds a E grade (18/100 RQD, P/E N/A, ROIC -35.0%, cap $45.7M) and STEX (Streamex Corp.) posts a E grade (30/100 RQD, P/E N/A, ROIC -35.0%, cap $45.2M). Among the 5-stock peer group, FRMM leads on earnings multiple (N/A) while AVX leads on capital efficiency (-10.4% ROIC).

What are the biggest fundamental strengths and SEC risk factors for FRMM?

Per FRMM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001690080), Forum Markets Incorporated generated $6.5M in revenue (-47.1% YoY), -$450.5M in net income, and -$26.1M in free cash flow against $306.3M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is FRMM trading relative to its 50-day, 200-day, and 52-week technical levels?

FRMM last traded at $3.27 (-5.22% on volume of 87,795 shares), positioning the stock -27.65% below its 50-day simple moving average ($4.52) and -27.17% below its 200-day simple moving average ($4.49). Across its 52-week range of $1.76 to $19.45, FRMM sits at the 8.5% percentile with a 14-day RSI of 38.6 (NEUTRAL RANGE) and an implied next-earnings move of Β±12.5% ($2.86 to $3.68).

Direct Sub-Reports: FRMM RQD Cockpit FRMM 12M Forecast FRMM Earnings & Move FRMM Dividends & DRIP FRMM Insiders & 13F FRMM Whale Options FRMM Profit Sankey FRMM News & Why
ROARABLE RATING BRIEF β€’ RQD 25/100 (E) βœ“ SEC XBRL & RQD VERIFIED

FRMM β€” Forum Markets Incorporated: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Forum Markets Incorporated (FRMM) earns a live Roarable RQD composite score of 25/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $3.27 (-5.22% 1D, market capitalization $45.5M).

  • Fundamental Cash Engine (4/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of β€”, operating margin of -60.0%, and free cash flow yield of β€”.
  • Whale 13F & Options Flow (3/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (7/20) + Forensic Balance Sheet (8/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 1/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Forum Markets Incorporated (FRMM) is listed on NASDAQ and classified under the Financials sector, Finance: Consumer Services industry. Revenue is reported at $6.5M for FY 2025 .

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Forum Markets Incorporated (FRMM) reported $6.5M in annual revenue (up from $12.4M in FY2024, -47.1% YoY) and -$450.5M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($37.7M revenue, -$19.9M net income) through FY2025, FRMM scaled operating cash flow to -$26.1M and free cash flow to -$26.1M, backed by $306.3M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • πŸ‚ Primary Bull Case (E β€’ RQD 25/100): Established market leader in Financials with deep daily trading liquidity. Free cash flow yield of β€” and institutional whale pillar of 3/20. With Fundamental Cash Engine at 4/20 and Institutional Whale Flow at 3/20, sustained execution supports upside toward the upper end of the $1.76 – $19.45 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -60.0% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Upstream suppliers, downstream customers, and sector correlations therefore cannot be mapped from the source data. A prospective investor should watch whether the announced compute agreement converts into reported revenue in future filings, since FY 2025 revenue of $6.5M is the only recorded top-line evidence.

  • Key Question #1: Can FRMM sustain or expand its -60.0% operating margin and -35.0% ROIC against Finance: Consumer Services peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $6.5M and free cash flow of -$26.1M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is FRMM's equity valuation to Financials capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

FRMM Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Forum Markets Incorporated (FRMM) β€’ Click "Debate This Headline" to argue it in the Roar Pit below

πŸ’¬ Jump to FRMM Debate Forum (3) ↓
πŸ”₯ THE ROAR PIT β€’ LIVE COMMUNITY DEBATE 3 Active Posts & Replies

FRMM Bull vs. Bear Conversation Board β€” What's Your Call at $3.27?

πŸ‚ 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON FRMM 🐻 33% BEARISH CONVICTION
1. Pick Your Side on FRMM:
πŸ’‘ Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
QU QuantViper RQD DEBATE OPENER β€’ Systematic Momentum Desk πŸ‚ BULLISH 🎯 Target: $4.28 (+24.1%)
πŸ“Œ Pinned Debate

The announced $94.4 Million AI cloud compute agreement with Fireworks could, if converted into revenue, materially lift the $6.5M FY 20

Here is why I am bullish on FRMM here at $3.45: The announced $94.4 Million AI cloud compute agreement with Fireworks could, if converted into revenue, materially lift the $6.5M FY 2025 top line.. Compare FRMM's -60.0% operating margin and -35.0% ROIC against the rest of Finance: Consumer Services. As long as cash conversion holds up, dips toward $3.28 are getting bought.

VolSurface_Trader πŸ‚ BULL

Both sides have a point here β€” FRMM's 8/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

FO ForensicBear RQD DEBATE OPENER β€’ 10-K Footnote Auditor 🐻 BEARISH 🎯 Target: $2.83 (-18.0%)
Spot @ $3.45

A 0% FCF yield, -35% ROIC, and FY 2025 net loss of -$450.5M against $6.5M revenue leave the forensic and cash-engine pillars scoring 8/

A 0% FCF yield, -35% ROIC, and FY 2025 net loss of -$450.5M against $6.5M revenue leave the forensic and cash-engine pillars scoring 8/20 and 4/20.. Look at the math on FRMM: paying current EV/EBITDA multiples for -35.0% ROIC and -60.0% operating margins leaves zero margin of safety if Finance: Consumer Services demand softens. I'd wait for a retest of $3.04 before getting long.

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