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.

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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 Walking a Fine Line

WOW Cover Image

Small-cap stocks can be incredibly lucrative investments because their lack of analyst coverage leads to frequent mispricings. However, these businesses (and their stock prices) often stay small because their subscale operations make it harder to expand their competitive moats.

These trade-offs can cause headaches for even the most seasoned professionals, which is why we started StockStory - to help you separate the good companies from the bad. That said, here are three small-cap stocks to avoid and some other investments you should consider instead.

WideOpenWest (WOW)

Market Cap: $385.8 million

Initially started in Denver as a cable television provider, WideOpenWest (NYSE: WOW) provides high-speed internet, cable, and telephone services to the Midwest and Southeast regions of the U.S.

Why Are We Out on WOW?

  1. Demand for its offerings was relatively low as its number of subscribers has underwhelmed
  2. Waning returns on capital from an already weak starting point displays the inefficacy of management’s past and current investment decisions
  3. Short cash runway increases the probability of a capital raise that dilutes existing shareholders

WideOpenWest is trading at $4.70 per share, or 1.4x forward EV-to-EBITDA. Dive into our free research report to see why there are better opportunities than WOW.

BWX (BWXT)

Market Cap: $9.26 billion

Contributing components and materials to the famous Manhattan Project in the 1940s, BWX (NYSE: BWXT) is a manufacturer and service provider of nuclear components and fuel for government and commercial industries.

Why Does BWXT Give Us Pause?

  1. Muted 7.4% annual revenue growth over the last five years shows its demand lagged behind its industrials peers
  2. Earnings per share lagged its peers over the last two years as they only grew by 3.2% annually
  3. Eroding returns on capital suggest its historical profit centers are aging

At $101.51 per share, BWX trades at 29.2x forward price-to-earnings. If you’re considering BWXT for your portfolio, see our FREE research report to learn more.

TPI Composites (TPIC)

Market Cap: $55.7 million

Founded in 1968, TPI Composites (NASDAQ: TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems.

Why Is TPIC Risky?

  1. Customers had second thoughts about committing to its offerings over the past two years as its billings averaged 12.6% declines
  2. Diminishing returns on capital from an already low starting point show that neither management’s prior nor current bets are going as planned
  3. Unfavorable liquidity position could lead to additional equity financing that dilutes shareholders

TPI Composites’s stock price of $1.19 implies a valuation ratio of 0.7x forward EV-to-EBITDA. Check out our free in-depth research report to learn more about why TPIC doesn’t pass our bar.

Stocks We Like More


Put yourself in the driver’s seat by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years.

Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today for free.

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