Selena Gomez went to Mexico and after she leaves the cartels burn down the Costco. I like her music too but man that seems like an over reaction.
Iran still exists. Though the rial doesn’t. The conversion rate of the rial to dollars went from 1:40,000 to 1:1,000,000.
Trump tweeted over the weekend he was raising tariffs from 10% to 15%. But, I think everyone predicted it. I babysat a friend’s girlfriends (ex Mormon) kids once. The youngest I put to bed and when I checked on him he was sitting, quietly watching tv. Since, he wasn’t technically out bed I just let him. When I was walking away I realized he looked dirty. So I went back and upon further investigation I discovered not only was he dirty. So was the TV and the bed. And the ceiling. And it wasn’t dirt. It was poo. That kid is Trump. And he is just flinging poo everywhere.
But, really all that matters is Nvidia (NASDAQ:$NVDA) earnings on Wednesday after-the-close. My hunch is earnings are fine. I don’t think AI implodes until after this Summer or into 2027. The election might take out the market long before the Oracle/OpenAI bonds do.
XBI 0.00%↑ was nice and stable with bid pressure today. I have no idea if this was due to the recent FDA shift or if this is rotation out of tech-tech into biotech.
Gossamer Bio, whose CEO is named Erick Goss, crashed on late phase results. First, this was far above the channel yesterday. Second, it was a binary late-phase trial (yellow yield sign.) I know they have an option to license an approved medication for getting erections but Seralutinib is their only drug in trials currently. Third, and most importantly as I have said before, if a company’s CEO more time focussed on naming the company then it’s likely the intent of the company is to just market and sell shares.
Is this company dead? No, likely not. No debt and they already have a plan to market new shares for sale through the new drug. But, they have to issue more shares and I feel they need a reverse split first.
Compare Gossamer to Inhibikase Therapeutics NASDAQ:$IKT a direct competitor. It is trading in the channel. Much lower share count and has a retarded name only a scientist would think is cool. This too is a binary. But, it’s pre any late-phase run. To compare directly line look at Gossamer’s chart when it was in the channel.
We own Inkihibase and it’s marked accrue. So I will be adding on weakness. If you are investing in biotechs I presume you can analyze pharmacology from here.
As always, if you think there are spelling errors update your dictionary to the latest version. Happy speculation!
— AJ
Event Horizon Tools
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