The Glass Monopoly, Part 3: There is an activist already in the boardroom

Part 2 said eighteen months. The market took three weeks. The first LIDE production order lands in June.

Part 1 said LPKF was a four-tool monopolist on glass-substrate AI packaging hiding inside a 50-year-old German laser shop. Part 2 said the market had eighteen months before it figured that out, and named the single phrase to listen for on the April 30 earnings call.

April 30 came. The company said the phrase. The stock did not wait eighteen months. It went up roughly two and a half times year to date and re-rated past every published analyst target inside three weeks.

This is the part where I tell you what I got right, what I got wrong, what the company actually disclosed line by line, and the one thing neither Part 1 nor Part 2 mentioned at all: there is an activist investor already sitting on the LPKF supervisory board, and the chief financial officer has been buying stock in the open market with his own money.

Let's go.