06 — Market data

Section role

This section is the trading-side mirror of 05_financials. Where the financials section covers accounting truth (revenue, opex, balance sheet, raises), the market-data section covers how the market is positioned in POET stock — insider activity, institutional ownership, short interest, options structure, price tape, share-count progression, and the implied cost-of-capital from the equity raise schedule (POET has zero public debt).

POET’s market-data profile is structurally different from US-domestic peers because POET is a foreign private issuer (FPI):

• No Form 4 / Form 5 insider filings. POET’s Section-16 exemption means insider-transaction disclosure flows through SEC Form 144 (proposed sales by affiliates) and Canadian SEDI / SEDAR+. Insider-trading data is structurally less granular than for US-domestic comps.
• No senior notes outstanding. POET has zero public debt — the file credit market positioning documents this explicitly and pivots to the implied cost of capital from the recent equity raise schedule.
• Microcap option liquidity. Options exist on POET but with structurally limited open interest at most strikes. The options-chain file flags this and notes where data is unreliable.

What’s here

• Insider history — POET’s FPI insider-disclosure regime, Form 144 ledger, Schedule 13G/A filers, and the Canadian SEDI cross-reference. Documents why Form 4 does NOT apply.
• Institutional holders — Schedule 13G filers + aggregator cross-check. The MM Asset Management 9.99% block is the load-bearing institutional position.
• Short interest history — bi-weekly NASDAQ short-interest cadence over the past 12 months; populated by update_finra.py.
• Stock price history — long-term price tape with 2025–2026 catalyst annotations. 52w high $15.50 / low $3.78.
• Options chain — front-month + long-dated options snapshot where data available. Microcap option-chain liquidity flagged.
• Share count + dilution progression — quarter-by-quarter share count, cumulative dilution from the 2025–2026 raise sequence.
• Credit market positioning — POET has NO public debt. File documents that explicitly and computes the implied cost of capital from the average price-per-share of recent raises.

Reading order

• 5-minute positioning read: stock_price_history → short_interest_history → share_count_dilution. You will know what the market knows about POET.
• Ownership / sponsorship work: institutional_holders → insider_history. The MM Asset Management 9.99% concentration is the active variable; FPI Form-144 ledger is structurally thin.
• Capital-cost read: credit_market_positioning → recent capital raises. With no debt, the equity raise schedule is the only market readout.

Discipline reminder

POET’s market-data files inherit the FPI-regime caveats. Insider-transaction data for POET is structurally less complete than for US-domestic comparables because Form 4 does not apply. Where US-domestic comps would have a 5-year, 100+ Form-4-filing record, POET has a single Form 144 in the past 12 months (Riley Family Trust, ~$51K proposed sale). The KB documents this transparently and does not over-extrapolate from thin data.

Cross-section pointers

• overview — leadership equity context and corporate history (DenseLight 2016/2019 + PTS Singapore 2019 + PTM Malaysia 2025).
• recent capital raises — the load-bearing dilution exhibit; pairs with share_count_dilution on the trading side.
• financials summary — analyst snapshot.
• overview — events priced into the data here.
• overview — data-vendor catalog.