SES AI Corp

Analysis for Ticker: SES

SES AI Corp builds high-performance lithium-metal batteries for drones, robots, and data centers in Massachusetts. The business is an elaborate illusion where the founders own only 12% of the company but control 57,6% of the voting power. They have built a machine that has already burned through enough capital to create an accumulated deficit of 384$ million. It is like a lemonade stand where the children in charge keep selling all the lemons and cups to pay themselves, leaving the people who actually bought into the stand with nothing but a growing pile of debt and empty promises. The math is a disaster because the company spends two times as much money as it makes, and the only way it survives is by printing more paper to sell to unsuspecting outsiders. The machinery of this value extraction was set in motion long before the public noticed the decay. On 14/08/2025, the chief science officer, Gan Hong, established a pre-programmed trading plan to siphon liquidity from the market. By 12/11/2025, the chief legal officer, Kyle Pilkington, followed suit with his own automated exit strategy. These insiders created a trapdoor to convert their paper into cash regardless of how the actual battery business performed.