Netlist (NLST) filed a US$95.76 million shelf registration covering up to 33,600,000 common shares tied to an employee stock ownership-related offering. The stock has returned 101.33% over the past 90 days and delivered a 371.95% total shareholder return over one year, even as it remains loss-making with a net loss of US$6.69 million. On revenue of $264.55 million, the shares trade at a 3.8x price-to-sales ratio, above the broader US Electronic industry average of 2.9x and an estimated fair P/S of 1.2x, according to Simply Wall St.