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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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 Russell 2000 Stocks in the Doghouse

PANL Cover Image

Small-cap stocks in the Russell 2000 (^RUT) can be a goldmine for investors looking beyond the usual large-cap names. But with less stability and fewer resources than their bigger counterparts, these companies face steeper challenges in scaling their businesses.

Navigating this part of the market can be tricky, which is why we built StockStory to help you separate the winners from the laggards. That said, here are three Russell 2000 stocks to avoid and better alternatives to consider.

Pangaea (PANL)

Market Cap: $337.3 million

Established in 1996, Pangaea Logistics (NASDAQ: PANL) specializes in global logistics and transportation services, focusing on the shipment of dry bulk cargoes.

Why Is PANL Risky?

  1. Annual sales declines of 5.5% for the past two years show its products and services struggled to connect with the market during this cycle
  2. Earnings per share have contracted by 33.9% annually over the last three years, a headwind for returns as stock prices often echo long-term EPS performance
  3. 9.1 percentage point decline in its free cash flow margin over the last five years reflects the company’s increased investments to defend its market position

Pangaea is trading at $5 per share, or 9.4x forward P/E. To fully understand why you should be careful with PANL, check out our full research report (it’s free).

Richardson Electronics (RELL)

Market Cap: $147.3 million

Founded in 1947, Richardson Electronics (NASDAQ: RELL) is a distributor of power grid and microwave tubes as well as consumables related to those products.

Why Do We Steer Clear of RELL?

  1. Customers postponed purchases of its products and services this cycle as its revenue declined by 12.3% annually over the last two years
  2. Earnings per share have dipped by 74.7% annually over the past two years, which is concerning because stock prices follow EPS over the long term
  3. Poor free cash flow margin of -0.4% for the last five years limits its freedom to invest in growth initiatives, execute share buybacks, or pay dividends

Richardson Electronics’s stock price of $10.39 implies a valuation ratio of 14.6x forward P/E. If you’re considering RELL for your portfolio, see our FREE research report to learn more.

Lake City Bank (LKFN)

Market Cap: $1.67 billion

Dating back to 1872 and deeply rooted in Indiana's communities, Lakeland Financial Corporation (NASDAQ: LKFN) operates Lake City Bank, providing commercial and consumer banking services throughout Northern and Central Indiana.

Why Do We Think Twice About LKFN?

  1. Net interest income trends were unexciting over the last four years as its 4.8% annual growth was below the typical bank company
  2. Net interest margin dropped by 21.3 basis points (100 basis points = 1 percentage point) over the last two years, implying the company’s spreads fell as competitors entered the market
  3. Annual tangible book value per share growth of 2.5% over the last five years was below our standards for the bank sector

At $64.87 per share, Lake City Bank trades at 2.2x forward P/B. Check out our free in-depth research report to learn more about why LKFN doesn’t pass our bar.

High-Quality Stocks for All Market Conditions

Market indices reached historic highs following Donald Trump’s presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth.

While this has caused many investors to adopt a "fearful" wait-and-see approach, we’re leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market 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 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 Exlservice (+354% 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

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