The Hidden Champions of 2025: Puma, Sranan Gold and AMD – Where it might be worth getting in

Puma – The rocky road back to the top

The current situation at Puma is challenging. The second quarter brought a currency-adjusted decline in revenue and an operating loss. This was driven by weak demand in core markets such as North America and China, lower margins, and the burden of US special tariffs. As a result, the management board has drastically lowered its forecast for 2025 and now expects an operating loss. The stock market has already punished this development.

But this is precisely where the opportunity for a turnaround lies. Management is not sitting idly by. Under new CEO Arthur Hoeld, a rigorous efficiency program is being implemented that cuts investments and reduces inventories to preserve liquidity. At the same time, the strategy is being realigned. High-margin direct sales are being promoted in order to become less dependent on the turbulent wholesale market. This "reset year" is intended to lay the foundation for more sustainable growth from 2026 onwards.

Analysts remain divided. While some are downgrading the stock due to its short-term weakness, others recognize the long-term potential of the realignment. The latest news that major shareholder Artemis considers its 29% stake to be "non-strategic" and is reviewing all options is also fueling speculation about a possible change of ownership. These takeover hopes could quickly have a positive effect on the share price. The majority of analysts advise patience. The turnaround depends on whether the new strategic levers can be consistently leveraged. The stock is currently trading at EUR 19.22.

Sranan Gold - Exploration successes underscore potential in Suriname

Sranan Gold is advancing the exploration of its Tapanahony project in Suriname at a noticeable pace. The property lies within the mineral-rich Guiana Shield, a well-established mining region supported by a stable legal framework based on Dutch law. Recent results from the ongoing trenching program provide further evidence of the potential extent of mineralization. A 5 m section averaging 8.9 g/t gold underscores the continuity of the corridor known as the "Randy Trend." Peak values of 18.78 g/t were found. These values confirm earlier findings announced on August 7, when a sample returned 36.7 g/t gold just 150 m south of Randy's Pit.

This near-surface work, which is being conducted in parallel with a diamond drilling program, aims to systematically map the mineralized zone and prepare it for future resource estimates. The geological signature confirms the complexity of the system. The mineralization occurs in northeast-trending, sheared felsic rocks, a structure often associated with high-grade gold deposits in the region. The similarity to neighboring zones, where values of up to 57 g/t have already been documented, is a strong indication of the scalable potential of the entire trend. Methodically advancing this systematic expansion of known zones through trenching and drilling is a sign of professional exploration.

Another significant step was the recent submission of an independent technical report in accordance with NI 43-101. This document forms the crucial basis for the evaluation and further development of the 29,000 ha project. This creates transparency and reliability for investors. The Company also has a solid liquidity position to carry out the 10,000 m drilling program without immediate financing pressure, thereby continuously generating value appreciation. The stock has not recently benefited from the gold discoveries and is currently trading at CAD 0.46.

AMD – Why the AI underdog could shine in the shadow of Nvidia

While Nvidia dominates the headlines, AMD often stands as the second-best player away from the spotlight. But this perception could distort the bigger picture. Analysts increasingly believe that the AI market is divided into two phases: training and inference. While Nvidia clearly dominates model training, the far greater opportunity lies in operational use, or inference. This is where AMD could score with its more cost-efficient and specialized chips, as executing already trained models requires less computing power but more efficiency.

Another often overlooked point is software. Although Nvidia has set a powerful standard with CUDA, AMD's open-source platform ROCm is gaining momentum. ROCm is increasingly being used, especially by hyperscalers such as Microsoft and Meta, which have huge engineering teams. Their interest is clear: they do not want to be dependent on a single provider. This strategic push by the tech giants could give AMD the boost it needs to establish itself as a serious alternative.

Despite a high price-to-earnings ratio, many do not consider AMD to be overpriced, but rather undervalued in terms of growth potential. The expectation is that the inference market will explode, and AMD, with its hardware and software strategy, is perfectly positioned to benefit. If the Company captures even a small portion of the AI market dominated by Nvidia, the current valuations would be more than justified. The key lies in expanding profitability by shifting toward AI products with higher margins. The stock is currently trading at around USD 161.

For investors willing to question established narratives, these hidden champions offer a fascinating risk-reward profile. Puma is tackling its challenging turnaround with a rigorous efficiency program and strategic realignment. Sranan Gold is underpinning the scalable potential of its gold project in Suriname through systematic exploration and excellent discoveries. AMD is skillfully positioning itself as a cost-efficient alternative in the AI inference market, fueled by the open-source ROCm software strategy embraced by tech giants. Diversifying across these three promising niches could pay off.