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Design (Testphase)

Risk & Weakness

Going Concern (Distress Proxy)

9 Findings
July 15, 2026 last calculated

Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Market filter active: the list shows 9 hits from US

Going concern refers to serious doubt about whether a company can continue to operate. This scanner takes the classic warning signs: Altman Z″ in the distress zone (<1.1), interest coverage <1 (earnings don't cover interest), and negative operating cash flow (burning cash). Note: this is a quantitative proxy, NOT the actual auditor's note from the annual report — we could add that via an EDGAR text search ('substantial doubt … going concern').

Global filters: 10- and 30-day ADR must be ≥ 1% (too little movement gets cut); fundamentally healthy names (Piotroski ≥ 5 or Funda Rating ≥ +10) are excluded.

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Terms in This Scanner Explained

(17)
ADR (Average Daily Range)
The average daily swing of a stock in percent - measured over 10 or 30 trading days (columns "ADR 10D/30D"). An ADR of 5% means: on a normal day the gap between the intraday low and high runs about 5%. Traders look for movement - that is why stocks with an ADR under 1% are filtered out globally. Not to be confused with ADR meaning "American Depositary Receipt" (a US certificate for foreign shares) - here ADR always means the daily swing.
AI Classification
Our company-by-company assessment of the AI boom based on SEC filings (the last four quarterly 10-Q reports and two annual 10-K reports): "Sells AI" (AI is a revenue source), "Threatened" (AI is a concrete business risk), "Uses AI" (operational use), or "Neutral" (no material AI exposure). Every classification requires at least two direct quote citations - otherwise the column shows "-". Not a quality judgment or a buy recommendation; the full file is on the stock page, methodology at /stocks/ai-rating-methodology.
Altman Z-Score
A bankruptcy early-warning system developed by Edward Altman: several balance-sheet ratios are combined into one score. Values above 3 are considered a safe zone, values below about 1.1 a distress zone with elevated bankruptcy risk.
Analysis (Full Company Analysis)
If the Analysis column shows "Read," there is an in-depth Minnow Street company analysis for this stock: business model, scanner findings, quarterly results, evidence from SEC filings, plus opportunities and risks. One click opens it directly.
Avg/Yr 3Y (Average Annual Return)
The stock's average annual return over the past 3 years. Shows at a glance whether a stock delivers over the long run or just had a short hot streak.
Earnings Date
The date of the next quarterly earnings report. Price gaps in either direction are common around this date - that is why we color it red when it is 7 days away or less, and yellow when it is 14 days away or less: elevated risk for fresh positions.
EPS (Earnings per Share)
Quarterly earnings divided by the number of shares outstanding. The most important growth metric: if EPS rises strongly over several quarters, the company is earning more money per share.
Free Cash Flow (FCF)
Operating cash flow minus capital expenditures - the money left over for everything else (debt paydown, acquisitions, or buybacks). Consistently positive free cash flow is one of the most honest signs of a healthy business model.
Funda Rating (Fundamental Rating A+ to F)
Our proprietary fundamental rating from -100 to +100 with a school-grade rank from A+ to F. Every stock is scored against all others by percentile: growth in earnings and revenue, earnings surprises, analyst estimates, and quality criteria such as margins, cash flow, and balance-sheet strength. A/A+ are the fundamentally strongest stocks in the universe.
Going Concern
The assumption in a company's annual report that it can continue operating. If auditors raise "substantial doubt" about this, it is one of the sharpest warnings there is - the company could run out of cash.
Market Capitalization (Mkt Cap)
The market value of the company: share price x total shares outstanding, shown here in billions of dollars. Micro caps (< $0.3B) are small and volatile, mega caps (> $200B) are heavyweights. Our scanner universe is deliberately capped at $50B - we look for stocks with room to run.
Net Margin
How much of revenue is left as profit? Net income divided by revenue, in percent. A 20% margin means: out of every dollar of revenue, 20 cents is left as profit. Rising margins are a strong quality signal.
Operating Cash Flow (OCF)
The cash that actually flows into the company from day-to-day operations - without accounting effects such as depreciation. A company can report book profits while still burning cash; operating cash flow reveals that.
Piotroski F-Score
A balance-sheet health check developed by Joseph Piotroski: 9 yes/no criteria covering earnings, cash flow, leverage, and efficiency produce a score from 0 to 9. Scores of 7 or higher are considered financially very solid, scores under 3 a warning sign.
Sector & Industry
Two levels of industry classification: sector is broad (e.g., Technology), industry is narrow (e.g., Semiconductors). Many strategies watch industry strength, because strong stocks are almost always found in strong industries.
Stage (Weinstein Stages 1-4)
Stan Weinstein divides every price chart into four stages: Stage 1 = basing (sideways after a downtrend), Stage 2 = uptrend (the only buying stage), Stage 3 = topping, Stage 4 = downtrend (avoid, or short candidate). Measured against the 30-week line (150-day moving average) and its slope.
Stress RS (Strength on Stress Days)
A stress day is a day on which both the overall market and the stock's own sector fell at least 0.5%. Stress RS counts on how many of these days the stock still closed green (shown as "g/n" = green days out of n stress days) and turns that into a rating from 1 to 99. High values point to buyers stepping in even on weak days - often a sign of institutional accumulation.

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Going Concern (Distress Proxy)
Symbol Earnings Avg/Y 3Y Stress RS Stage Funda Rating Piotroski MktCap Industry AI Rating Deep Dive Deep-Dive Report Sector Price YTD 6 Mo. 1 Year Off High Price Target RS EPS Rating ADR 10D ADR 30D Beta P/E P/E (f) P/S P/B P/FCF PEG EV/EBITDA EBIT Margin Gross Margin Net Margin ROE ROA Debt/Eq Equity Ratio Sales +/Y Div. Yield Payout Ratio Altman Z Inst. % Short % Analysts
FIRY FIRY 08/06 Stage 2 C -7 4 von 9 0.0 Electronic Gaming & Multimedia Communication Services 8.00 $ +111.6 % 95 42 -9.1 37.8 %
RCUS Arcus Biosciences Inc 08/05 Stage 2 D -33 0 von 9 3.8 Biotechnology Healthcare 28.30 $ +18.3 % 93 42 1.0 72.4 %
TSHA Taysha Gene Therapies Inc 08/11 Stage 2 D -29 4 von 9 0.0 Biotechnology Healthcare 5.70 $ +24.7 % 93 50 0.4 95.8 %
FTRE Fortrea Holdings Inc. 08/05 Stage 2 D -28 4 von 9 1.6 Biotechnology Healthcare 18.00 $ -4.6 % 92 13 0.8 110.4 %
REPL Replimune Group Inc 07/02 Stage 3 D -35 1 von 9 0.9 Biotechnology Healthcare 9.90 $ +17.5 % 92 42 -8.4 96.9 %
CYTK Cytokinetics Inc 08/06 Stage 2 D -21 3 von 9 10.9 Biotechnology Healthcare 81.90 $ +25.9 % 88 42 -7.3 118.8 %
HURA TuHURA Biosciences Inc 08/13 Stage 3 E -61 3 von 9 0.2 Biotechnology Healthcare 2.40 $ +248.7 % 86 42 -16.0 15.0 %
SPCE Virgin Galactic Holdings Inc 08/05 Stage 1 D -21 3 von 9 0.3 Aerospace & Defense Industrials 2.60 $ -6.5 % 43 42 -10.8 15.8 %
SABR Sabre Corpo 08/06 Stage 3 C -7 4 von 9 0.8 Software - Infrastructure Technology 1.70 $ +28.7 % 36 6 0.0 90.2 %

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Quarterly Figures

No quarterly data available.

Frequently Asked Questions

Going concern refers to serious doubt about whether a company can continue to operate. This scanner takes the classic warning signs: Altman Z″ in the distress zone (<1.1), interest coverage <1 (earnings don't cover interest), and negative operating cash flow (burning cash).

All scanners are recalculated daily across the entire stock universe — most recently on 15. July 2026. The data basis is fundamental data and SEC filings (10-K annual reports and 10-Q quarterly reports).

Currently, 9 stocks pass this scanner's criteria (as of 15. July 2026).

Global filters: 10- and 30-day ADR must be ≥ 1% (too little movement gets cut); fundamentally healthy names (Piotroski ≥ 5 or Funda Rating ≥ +10) are excluded.

This scanner deliberately hunts for red flags — a hit is a finding, not a recommendation: like a smoke detector that beeps so you look in time. A hit is also not a bankruptcy verdict; most companies save themselves (say, through a capital raise, which dilutes existing shareholders). Portfolio owners use the list as an early-warning system, bargain hunters as an anti-shopping list, experienced traders as a watch list — it is never a buy or short recommendation.

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Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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