Who We Are
First Strike Research is an independent financial research firm focused on mispriced single-name equities, derivatives, and overlooked risks across capital markets. We combine financial analysis with investigative research to look beyond the numbers, test assumptions, and uncover facts that others may miss.
We are veteran-owned and operated, with experience in environments where mistakes could carry life-or-death consequences. Attention to detail and rigorous verification were essential then, and they remain at the core of our work today. We bring that same discipline to every investigation: follow the evidence, verify the facts, and draw conclusions we can support.
INVESTIGATE
We examine the businesses, people, and incentives behind the financials to understand what the market may be missing.
VERIFY
A compelling story is not enough. We check sources, challenge assumptions, and separate what we can establish from what remains uncertain.
INDEPENDENT
We do not accept issuer payments or publish sponsored coverage. We follow the evidence and report on the facts.
What We Do
Investigative Equity Research
We approach each company like a case, not just a ticker. Every report is built from primary documents, corroborated sources, and a clear chain of reasoning from facts to thesis. We specialize in going past the “balance sheet” and into the parts of a business most shops barely touch. Instead of stopping at management narratives and top‑level KPIs, we investigate line‑item by line‑item.
Risk-First Framework
Our work starts with downside: governance, incentives, capital structure, and operational fragility. We then size upside only after we understand how and where things can break.
Open-Source Intelligence (OSINT)
We systematically collect and analyze public records, litigation, regulatory actions, ownership webs, social media and other industry signals to surface risks and relationships that don't always materialize on slide decks.