Data as of October 29, 2026. $HAWK closed at $14.21 on October 29, a market value of about $1.39 billion on 97.96 million basic shares, up 14% from the $12.44 close on the day Part 1 was published and 26% above the all-time intraday low of $11.25 set on October 23. Cash is about $500 million with no debt, roughly $5.10 a share. Enterprise value is about $890 million.
$HAWK Part 2: What a Cluster Costs, What It Earns, and Where the Profit Starts
A cluster costs about $12 million and earns about $14 million a year. We rebuilt the unit economics from the balance sheet, priced Kestrel, and found where the business funds itself.
