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 That Fall Short

PATH Cover Image

Investors looking for hidden gems should keep an eye on small-cap stocks because they’re frequently overlooked by Wall Street. Many opportunities exist in this part of the market, but it is also a high-risk, high-reward environment due to the lack of reliable analyst price targets.

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

UiPath (PATH)

Market Cap: $5.94 billion

Started in 2005 in Romania as a tech outsourcing company, UiPath (NYSE: PATH) makes software that helps companies automate repetitive computer tasks.

Why Does PATH Fall Short?

  1. Customers had second thoughts about committing to its platform over the last year as its average billings growth of 4.2% underwhelmed
  2. Customer acquisition costs take a while to recoup, making it difficult to justify sales and marketing investments that could increase revenue
  3. Persistent operating margin losses suggest the business manages its expenses poorly

UiPath’s stock price of $11.15 implies a valuation ratio of 3.9x forward price-to-sales. Read our free research report to see why you should think twice about including PATH in your portfolio.

Array (ARRY)

Market Cap: $924.4 million

Going public in October 2020, Array (NASDAQ: ARRY) is a global manufacturer of ground-mounting tracking systems for utility and distributed generation solar energy projects.

Why Is ARRY Risky?

  1. Flat unit sales over the past two years indicate demand is soft and that the company may need to revise its strategy
  2. Cash-burning history makes us doubt the long-term viability of its business model
  3. Eroding returns on capital from an already low base indicate that management’s recent investments are destroying value

At $6.08 per share, Array trades at 9.4x forward P/E. Check out our free in-depth research report to learn more about why ARRY doesn’t pass our bar.

WesBanco (WSBC)

Market Cap: $2.83 billion

Tracing its roots back to 1870 in West Virginia, WesBanco (NASDAQ: WSBC) is a bank holding company that provides retail and commercial banking, trust services, insurance, and investment products through its subsidiaries across several Midwestern and Mid-Atlantic states.

Why Does WSBC Worry Us?

  1. Net interest margin of 3.1% is well below other banks, signaling its loans aren’t very profitable
  2. Flat tangible book value per share over the last five years suggest it must find different ways to enhance shareholder value during this cycle
  3. ROE of 6.7% reflects management’s challenges in identifying attractive investment opportunities

WesBanco is trading at $29.51 per share, or 0.7x forward P/B. Dive into our free research report to see why there are better opportunities than WSBC.

Stocks We Like 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 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-micro-cap company Tecnoglass (+1,754% 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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