Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Small-Cap Stocks We Think Twice About

REAL Cover Image

Many small-cap stocks have limited Wall Street coverage, giving savvy investors the chance to act before everyone else catches on. But the flip side is that these businesses have increased downside risk because they lack the scale and staying power of their larger competitors.

Luckily for you, our mission at StockStory is to help you make money and avoid losses by sorting the winners from the losers. That said, here are three small-cap stocks to avoid and some other investments you should consider instead.

The RealReal (REAL)

Market Cap: $1.22 billion

Founded by consignment store aficionado Julie Wainwright, The RealReal (NASDAQ: REAL) is an online marketplace for buying and selling secondhand luxury goods.

Why Do We Think Twice About REAL?

  1. Lackluster 4.1% annual revenue growth over the last three years indicates the company is losing ground to competitors
  2. Decision to emphasize platform growth over monetization has contributed to 11.7% annual declines in its average revenue per user
  3. Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders

The RealReal is trading at $10.75 per share, or 35.1x forward EV/EBITDA. To fully understand why you should be careful with REAL, check out our full research report (it’s free).

Dillard's (DDS)

Market Cap: $9.59 billion

With stores located largely in the Southern and Western US, Dillard’s (NYSE: DDS) is a department store chain that sells clothing, cosmetics, accessories, and home goods.

Why Is DDS Not Exciting?

  1. Dearth of new stores suggests management is prioritizing the optimization of its existing locations over growth
  2. Weak same-store sales trends over the past two years suggest there may be few opportunities in its core markets to open new locations
  3. Projected sales decline of 2.1% for the next 12 months points to an even tougher demand environment ahead

At $613.76 per share, Dillard's trades at 23.2x forward P/E. Check out our free in-depth research report to learn more about why DDS doesn’t pass our bar.

Covenant Logistics (CVLG)

Market Cap: $541.9 million

Started with 25 trucks and 50 trailers, Covenant Logistics (NASDAQ: CVLG) is a provider of expedited long haul freight services, offering a range of logistics solutions.

Why Should You Dump CVLG?

  1. Sales stagnated over the last two years and signal the need for new growth strategies
  2. Free cash flow margin shrank by 20.4 percentage points over the last five years, suggesting the company is consuming more capital to stay competitive
  3. Waning returns on capital imply its previous profit engines are losing steam

Covenant Logistics’s stock price of $21.66 implies a valuation ratio of 10.6x forward EV-to-EBITDA. Read our free research report to see why you should think twice about including CVLG in your portfolio.

High-Quality Stocks for All Market Conditions

When Trump unveiled his aggressive tariff plan in April 2025, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that’s already erased most losses.

Don’t let fear keep you from great opportunities and take a look at Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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