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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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

2 Small-Cap Stocks Worth Your Attention and 1 Facing Challenges

GES 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. Keeping that in mind, here are two small-cap stocks that could be the next 100 baggers and one best left ignored.

One Small-Cap Stock to Sell:

Guess (GES)

Market Cap: $648.1 million

Flexing the iconic upside-down triangle logo with a question mark, Guess (NYSE: GES) is a global fashion brand known for its trendy clothing, accessories, and denim wear.

Why Should You Dump GES?

  1. Sales trends were unexciting over the last five years as its 4.9% annual growth was below the typical consumer discretionary company
  2. Poor free cash flow margin of 3.9% for the last two years limits its freedom to invest in growth initiatives, execute share buybacks, or pay dividends
  3. Short cash runway increases the probability of a capital raise that dilutes existing shareholders

Guess’s stock price of $12.46 implies a valuation ratio of 7.6x forward P/E. To fully understand why you should be careful with GES, check out our full research report (it’s free).

Two Small-Cap Stocks to Buy:

Armstrong World (AWI)

Market Cap: $8.16 billion

Started as a two-man shop dating back to the 1860s, Armstrong (NYSE: AWI) provides ceiling and wall products to commercial and residential spaces.

Why Are We Bullish on AWI?

  1. Annual revenue growth of 11.1% over the past two years was outstanding, reflecting market share gains this cycle
  2. Excellent operating margin of 24.7% highlights the efficiency of its business model, and its rise over the last five years was fueled by some leverage on its fixed costs
  3. Share buybacks catapulted its annual earnings per share growth to 19.5%, which outperformed its revenue gains over the last two years

At $188.52 per share, Armstrong World trades at 25.4x forward P/E. Is now the right time to buy? See for yourself in our comprehensive research report, it’s free.

Amalgamated Financial (AMAL)

Market Cap: $867.1 million

Founded in 1923 by labor unions seeking a financial institution aligned with worker values, Amalgamated Financial (NASDAQGM:AMAL) operates a values-oriented bank that provides commercial banking, trust services, and investment management to socially responsible organizations and individuals.

Why Will AMAL Beat the Market?

  1. Unique value proposition resonates with borrowers, as seen in its above-market 10% annual net interest income growth over the last five years
  2. Additional sales over the last two years increased its profitability as the 8% annual growth in its earnings per share outpaced its revenue
  3. Balance sheet strength has increased this cycle as its 20.4% annual tangible book value per share growth over the last two years was exceptional

Amalgamated Financial is trading at $28.51 per share, or 1.1x forward P/B. Is now the time to initiate a position? Find out in our full research report, it’s free.

Stocks We Like Even More

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 5 Strong Momentum 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.

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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