The Microcap Playbook: Finding 10x Stocks Before They Get Discovered

The best opportunities in the market might be the ones no one is paying attention to — and that’s exactly where microcap investor Mathieu Martin is looking.On this episode of In the Money with Amber Kanwar, Amber sits down with Mathieu Martin, Portfolio Manager for the Rivemont MicroCap Fund, to break down one of the most underfollowed — and potentially most lucrative — corners of the market. Martin explains why microcaps, often ignored by institutions and analysts, offer a unique edge for investors willing to do the work. Drawing on his unconventional path from poker to portfolio management, he shares how he identifies high-conviction ideas, builds deep fundamental insight, and finds companies that can grow from under $100 million to multi-billion dollar success stories. He also walks through the mindset required to handle volatility, why liquidity cycles matter more than fundamentals in the short term, and how improving conditions could set the stage for a new wave of microcap outperformance.In the Mailbag, Martin weighs in on some of the most intriguing small-cap names investors are watching right now. He revisits the remarkable run of Kraken Robotics (PNG.TO), explaining why he’s trimmed but still holds a small position, breaks down the risks and rapid growth behind Hydreight Technologies (NURS), and outlines both the opportunity and recent “yellow flags” surrounding Kits Eyecare (KITS.TO). He also discusses ADF Group (DRX.TO) and its potential to benefit from Canadian infrastructure spending despite tariff headwinds, shares his cautious take on Poet Technologies (POET) amid a short squeeze, and gives his outlook on Cineplex (CGX.TO) as the box office recovery gains momentum.In Pro Picks, Martin leans into one of his highest-conviction — and most controversial — themes: cannabis microcaps. After a brutal industry shakeout that saw widespread bankruptcies, he believes a new class of profitable, fast-growing players is emerging. He highlights Cannara Biotech (LOVE.TO) as a standout, pointing to its low-cost production, dominant Quebec market share, and strong growth trajectory. He also makes the case for Auxly Cannabis (XLY.TO), a turnaround story with improving margins, strong brands like Back Forty, and backing from strategic investor Imperial Brands. Beyond cannabis, he rounds out his picks with D-BOX Technologies (DBO.TO) as a unique way to play the movie theatre recovery through high-margin royalty revenue.Timestamps00:00 Trailer02:20 Intro04:50 From poker to micro caps07:30 What’s the winning formula? 10:00 Investment process: Example: Kraken Robotics14:10 Is volatility expected in the micro cap market?17:10 Microcap commodities 19:40 ITM Mailbag: Kraken Robotics (PNG) 20:55 Hydreight Technologies (NURS) 22:50 KITS eyecare (KITS)30:10 ADF Group (DRX)34:30 Poet Technologies (POET) 38:20 Microcap SaaS stocks 39:50 Cineplex (CGX) 42:00 Mathieu’s Pro Picks, focus on marijuana stocks (DBO, LOVE, XLY)58:15 ETF Minute: CI’s New Asset Allocation ETFs Add a “Plus” to the Classic PortfolioSponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationETF Minute is sponsored by CI Global Asset Management. For more on CBAP, CEQP and CI’s portfolio management multi-asset strategies check out: CBAP: https://funds.cifinancial.com/en/funds/managed-solutions/CIBalancedPlusAssetAllocationETFFund.html?seriesId=48917&amp;classId=482&amp;currencySelector=1&amp;cid=inthemoney_podcast_fnd-en_CIGAMIntheMoneyPartnership2026  CEQP: https://funds.cifinancial.com/en/funds/managed-solutions/CIEquityPlusAssetAllocationETFFund.html?seriesId=48926&amp;classId=482&amp;currencySelector=1&amp;cid=inthemoney_podcast_fnd-en_CIGAMIntheMoneyPartnership2026 Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@inthemoneypod<a href="mailto:qu