The biggest risk in speculative small caps might just be time
One thing I rarely see discussed with micro-cap catalyst plays is timeline risk.
Even if:
A transaction eventually closes. A listing eventually happens. A partnership eventually develops
If it takes much longer than expected, sentiment can completely fade before anything materializes.
Feels like a lot of investors price in outcomes without pricing in how long execution can realistically take.
Anyone else think timeline risk is massively underestimated in these setups?