The answer
Verdict. A call option, not an easy 2x. P(double,12mo) 0.23 vs P(halve,12mo) 0.48; 5x 0.07, 10x 0.025. ~205M shares unlock ~10 Nov into an ~80M float (Arnold/Centaurus among them). Cape first power 0.52, 500MW Google PPA 0.27, beats-QQQ 0.34. Starter size only; size for the lockup.
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Fervo Energy (FRVO) — Axion Equity Dossier (geothermal IPO, lockup + 10x)
Verdict. A call option, not an easy 2x. P(double,12mo) 0.23 vs P(halve,12mo) 0.48; 5x 0.07, 10x 0.025. ~205M shares unlock ~10 Nov into an ~80M float (Arnold/Centaurus among them). Cape first power 0.52, 500MW Google PPA 0.27, beats-QQQ 0.34. Starter size only; size for the lockup.
Full published report: https://frvo-dossier.us-east-1.gists.org
Read the full report on frvo-dossier.us-east-1.gists.org ↗
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- Revision 1 · Jun 21, 2026
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