It is no secret that the bitcoin mining industry is being battle-tested in the wake of the fourth halving. Hash price (revenue per terrahash) has reached historic lows as bitcoin’s block subsidy has been slashed. Meanwhile, the post-halving mempool frenzy has waned, adding fuel to the fire on already strained mining operators. Nangeng Zhang, Founder…
“The institutions are coming.” Anyone who’s been in the Bitcoin space for any significant period of time has heard some prominent figure within the space utter this phrase. In August 2020, when MicroStrategy, an American-based business software company, announced it would be purchasing bitcoin to add it to its treasury, many thought that was the…
Justin Paget/DigitalVision via Getty Images The 10yr minus 3mo Treasury rate, called the Yield Curve, is moving higher at a rapid pace as investors adjust their inflation thinking to being more persistent in the 3-4% range. At the moment, T-Bills priced at 5.25% remained roughly stable, giving a Real rate of return of close to…
JasonDoiy The following segment was excerpted from this fund letter. PayPal (NASDAQ:PYPL) PayPal has been a long-standing holding for Wedgewood, since 2015. After taking some of our gains around the company’s COVID-19-fueled peak in 2021, we have been adding to the stock slowly over the past two years, taking it back to a significant position…
Palto/iStock via Getty Images Investment Thesis fuboTV Inc. (NYSE:FUBO) was once a high-flying stock with a massive shareholder following. Today, it’s a shadow of its former self. And even though the stock is down significantly from its all-time highs, I argue that not only is this stock not undervalued, but it’s actually likely to sell…
Morsa Images Investment summary My recommendation for Marvell Technology (NASDAQ:MRVL) is a buy rating. I believe the worst of the cycle is over for MRVL, and it should start to enter the upcycle as early as 2H25, which should drive strong growth acceleration in FY26. Over the long term, I am also bullish on MRVL’s…
baranozdemir Accuray (NASDAQ:ARAY) is certainly in the running for being one of the most frustrating stocks I’ve followed. While the company has made a lot of smart moves to improve its product portfolio and boost its growth prospects, market share has been frustratingly slow to follow and the stock has languished for years as the…
Cooper Neill/Getty Images Sport Amazon.com, Inc. (NASDAQ:AMZN) seemingly does not get as much attention as other mega-cap tech names recently, due to avoiding the extremes on both fundamental performance and valuation. AMZN is not the cheapest mega-cap name, especially based on near-term financial metrics, and is seeing more moderate top-line growth courtesy of its large…
JHVEPhoto Shares of RH (NYSE:RH), formerly known as Restoration Hardware, are up 23% from a year ago, but this hides what a bumpy ride it has been. Shares closed Wednesday about 25% below their 52-week high. After giving encouraging guidance, shares rallied by 8% past $320 Wednesday after hours. Even after this move, shares have…
burcu onter/iStock via Getty Images Closer Stereotaxis Coverage Coming In this article I will review the “Open EP Robotic Lab” presentation Stereotaxis (NYSE:STXS) gave on March 1st in which it revealed the results from the EU Magic human trial and the March 4th Q4 earnings report. I will continue covering Stereotaxis on a quarter-by-quarter basis…
Baloncici/iStock Editorial via Getty Images Tesco PLC (OTCPK:TSCDF)(OTCPK:TSCDY) is probably one of Britain’s most recognisable brands. In typical UK fashion, they do half-year reporting, but we got a trading update that tells us what we need to know about the coming year. In all, performance has been great. Prices are down and loyalty benefits are…
golibo In my previous coverage of the leading digital advertising company, Taboola (NASDAQ:TBLA), in June 2023 last year, I shared my buy thesis on how TBLA’s fundamentals and market leadership could pave the way to share price appreciation. Today, my call is proven to be right. TBLA is now trading at $4.36, an almost 50%…
stephanie phillips/E+ via Getty Images Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund (CEF) market activity from both the bottom-up – highlighting individual fund news and events – as well as the top-down – providing an overview of the broader market. We also try to provide some historical…
georgeclerk/E+ via Getty Images Return Reaches Extreme The Thursday 105 point rally in the S&P 500 (SP500) pushed the collective returns over periods of 12.5, 25, 50, 100 and 200 trading days to an extreme percentile of 0.992. This level has only been reached 0.8% of the time in the last 20 years. It’s certainly…
Houston Chronicle/Hearst Newspapers via Getty Images/Hearst Newspapers via Getty Images Homebuilder stocks have been among the top-performing names in the S&P 500 since the summer of 2022. The SPDR S&P Homebuilders ETF (XHB) has returned nearly 80% in the past 20 months while the iShares U.S. Home Construction ETF (ITB) has almost doubled in that…
Javier Ghersi/Moment via Getty Images Nvidia’s (NVDA) weighting in the various indices/ETFs: S&P 500: 4.25% Nasdaq 100 (QQQ): 5.21% Semiconductor ETF (SMH): 25% Recent analyst target price changes: 2/16/24: Loop Capital starts NVDA with a target price of $1,200 2/15/24: Piper Sandler $620 to $850 2/13/24: UBS from $580 to $850 Nvidia reports Wednesday, 2/21/24…
Liliboas/E+ via Getty Images The Q4 earnings season has done an about-face after starting out a little rough with disappointing banking results. Better-than-expected reports in the last two weeks have been driving US stocks to new highs. On Thursday, the S&P 500® crossed the 5,000 mark for the first time ever in intraday trading. Last…
ozgurdonmaz Apple (NASDAQ:AAPL) reported its Q1 FY24 results on February 1st, 2023, after the market close. I provided a ‘Buy’ rating in my previous coverage, highlighting the growth momentum in their service business. Their service revenue grew by 11.3% in the quarter, reaching an all-time record. I maintain a “Buy” rating with a fair value…
RiverNorthPhotography Shares of Fifth Third Bancorp (NASDAQ:FITB) have underperformed the market meaningfully over the past year, but they have recovered nearly all of their losses in the wake of last winter’s regional banking crisis, which significantly increased funding costs. In September, I argued that shares were a hold at $28 and would be a buy…
Vertigo3d One of the main stories, if not the story of 2023 for the investing world, has been the advent of large language models (“LLMs”), their usage as the engine of generative AI (GenAI) and how, slowly but surely, GenAI has begun to rewrite life as we know it. Understandably, in a period of high…
deepblue4you I find it quite amusing that the market believes inflation is tied to rates – the propagandists at the Fed did their job there. Distract while creating bank reserves (print money) out of plain sight. The Monetary Base is up over 7% since March. M2 is also a bit higher. This is why the…
e-crow Introduction Last year presented a checkered landscape for the oilfield equipment and services industry, with the U.S. market experiencing notable weaknesses, contrasted by robustness in international and offshore sectors. Despite these challenges, NOV Inc. (NYSE:NOV) didn’t just hold its ground; it thrived, as its earnings were buoyed by solid international and offshore demand —…
marekuliasz Based on the behavior of various proven leading economic indicators, we have been warning about a major US recession coming, as we did here. Three of the best leading economic indicators — all of which are being ignored by the Fed and most investors — are the money supply, the yield curve and The…
wallix Dear readers/followers, In this article, I’ll update on Siemens Energy (OTCPK:SMEGF), a company that I’ve reviewed a few times in the past. The reason why I owned shares is that I was actually assigned a small stake when Siemens Energy was spun off. I made a very impressive profit in the short term, which…
Originally posted on Unlimited Hangout. One of the oddest and most mysterious relationships that emerged out of the collapse of FTX last year was Alameda Research’s unusual relationship with Farmington State Bank, one of the smallest, rural banks in the United States that came under the control of Jean Chalopin in 2020. Chalopin is best…
airdone I know I’ve brought it up a lot lately, but I positively love mortgage REITs (mREITs). They’re easy to understand, fun to analyze, and offer well above market average returns. I also caught a persuasive recent article about how the economic environment is expected to improve for REITs in general. Naturally, I figured it…
Mike Coppola Introduction I initiated coverage of Verizon Communications Inc. (NYSE:VZ) stock in July 2023 with a ‘Buy’ rating, when one share cost $34. Since then, probably against the backdrop of heightened market expectations about the imminent Fed rate cut, the stock has followed the market rally and outperformed it by almost three times, taking…
carterdayne Investment Thesis BlueLinx Holdings Inc. (NYSE:BXC) is a cyclical company. BXC did not achieve any revenue growth over the 2005 to 2023 peak-to-peak Housing Starts cycle. Nevertheless, the company is fundamentally sound with improving margins and returns. I consider it a cash cow. The Housing Starts currently is at the long-term annual average level….
With the US inflation having eased without significant unemployment, the Fed unanimously agreed to hold the borrowing rate between 5.25 and 5.5 percent for the third consecutive time. The United States stock market recorded a profitable day led by the Dow Jones Industrial Average (DJIA) and the S&P 500, after several high-impact news released by…
Bryan Bedder Co-produced by Austin Rogers. It was not that long ago that the market believed the Federal Reserve’s narrative of “higher for longer” interest rates. Over and over again on financial media, pundits parroted the Fed’s narrative, helping them do their job of setting the market’s expectations. In contrast, we have been saying for…
BlackRock and Grayscale recently met with the Securities and Exchange Commission (SEC), presumably to discuss the approval requirements for their spot Bitcoin ETF applications. Coinbase, which offers both Bitcoin custody and Bitcoin brokerage products, has emerged as the proposed custodian for the Bitcoin assets of several ETF applicants. Mike Belshe, CEO of BitGo, recently raised…
Khosrork Is a stock market correction coming before the Santa Claus rally at the end of the year? It is a fascinating turn in sentiment, given that investors were convinced of the bear market’s return just a month ago. Now, investors are “making their list and checking it twice.” Given the 10% advance over the…
AndreyPopov Tiptree Q3 Update: Tiptree (NASDAQ:TIPT) reported another sensational operating quarter last night (11/1). GAAP earnings came in at $2.1 million or $0.04 per share. GAAP net income, as I’ve discussed in previous write ups, is weighed down by accounting treatment of amortization related to Warburg’s minority interest investment in Fortegra and unrealized losses in…
Olemedia Bitcoin (BTC-USD) has garnered recent widespread investor attention after the decision by the SEC not to challenge the ruling, paving the way for a Bitcoin Spot ETF to enter the marketplace. The significance of the initial ruling and the subsequent decision by the SEC to not tempt fate again cannot be understated. A Spot…
imaginima Snap-on Incorporated (NYSE:SNA) manufactures equipment and system solutions. SNA recently announced decent Q3 FY23 results. I believe SNA has everything, and it can be rewarding in the coming times. Its margins are solid; it has a low valuation, a healthy balance sheet, and a perfect technical setup. Hence, I assign a buy rating on…
izusek/E+ via Getty Images Co-authored by Treading Softly A common mistake that people make is assuming that this is the first time something has ever occurred. We often hear people say that “this has never happened before” or that there are no historical analogs for what is occurring. Unfortunately, a massive part of the human…
Diy13 Ray Dalio predicts doom and gloom for the US economy thanks to the mounting debt load. The country’s debt levels surpassed $33 trillion for the first time last month. My fellow Seeking Alpha contributor wrote a very well-thought-out article on portfolio protection if the debt crisis really comes. But the main focus of my…
KanawatTH Co-produced by Austin Rogers. There is always a lot of noise in the financial media about the state of the economy, but most of it is, to quote Shakespeare, “sound and fury signifying nothing.” So, let’s look at some data points to try to gain clarity on the state of the economy and specifically…
Kamil Krzaczynski Shares of Molson Coors Beverage Company (NYSE:TAP) have seen a setback as of late after enthusiasm around the stock topped in the summer, due to self-inflicted troubles at its major peer Anheuser-Busch InBev SA/NV (BUD). Given that development, I cheered for Molson after Budweiser had its own hangover, after a major mistake by…
Justin Sullivan The following commentary is from the October 1st issue of my Short Seller’s Journal. Housing market update – The highest mortgage rates in 20 years, the worst level of affordability since 1984 and increasingly tight household finances are starting to torpedo housing market activity. After rising slightly in three of the previous five…
Yesterday marks coming up to the finishing line after almost four years of work. Assumeutxo was merged into the Bitcoin Core master branch by Andrew Chow yesterday. This is the first major non-consensus update to the Bitcoin reference implementation in quite a while, and is going to have a lot of interesting implications for users…
Ethereum co-founder Vitalik Buterin also raised concern regarding the concentration of Ethereum’s liquid staking providers. In his recent blog post, Ethereum co-founder Vitalik Buterin shared his opinion on adding some protocols to the Ethereum blockchain code. He also touched upon the most important part which is the concentration of liquid staking service providers. Vitalik Buterin…
The blocksize war marked a pivotal chapter in Bitcoin’s nascent history, illuminating the ability of node operators to withstand systemic changes that could undermine the network’s foundational principles of decentralization and censorship resistance. At the crux of the controversy was the issue of scaling Bitcoin to accommodate growing transaction volumes. While one camp advocated sacrificing…
Brandon Bell Exxon Mobil (NYSE:XOM) experienced a sharp drop-off in free cash flow in the second fiscal quarter which is related to the decline in price realizations in end markets. Exxon Mobil still generated a solid $5B in free cash flow in the second quarter but may face improved prospects for earnings and free cash…
haveblue/iStock via Getty Images Although already in demise by the late 1960’s, America’s once efficient and proud rail passenger system folded into a scattered semblance by the decades end, as I stated in my previous article, “the last straw being thrown by Lyndon Johnson with his canceling of the lucrative 1st class mail contracts.” The…
In a recent appearance on Fox Business, Anthony “Pomp” Pompliano suggested that a significant Bitcoin bull run is on the horizon. Pompliano, a well-known figure in the Bitcoin space, shared his insights on the future of Bitcoin and why he believes it is primed for another surge. Pompliano began the discussion by highlighting the recent volatility in…
Zero-knowledge (ZK) rollups are coming to Bitcoin. Recently, two different projects took turnkey steps into turning this development into a reality for the original cryptocurrency, an advancement that could help Bitcoin scale even more and also provide additional privacy assurances to users that decide to use it. Chainway last week announced the open-sourcing of their…
On the occasion of the G20 summit, India said that it is willing to closely cooperate with all member nations to work on a clear regulatory framework for crypto. In the upcoming months, India is planning to decide its own position and stand on digital assets after proper analysis and consultations. India would obviously consider…
Miyako Nakamura/E+ via Getty Images Arcturus Therapeutics (NASDAQ:ARCT) has made great progress in advancing its pipeline thus far. Especially, when you consider that it has a near-term catalyst for investors to look forward to. That’s because in the coming months [2nd half of 2023] it is expected that it will release results from the phase…
laurence soulez The Copper Investment Thesis Seems Uncertain In The Face Of Over Supply We previously compared Freeport-McMoRan (NYSE:FCX) and Southern Copper Corporation (NYSE:SCCO) in April 2023, discussing the critical role of copper in the electrification and decarbonization cadence over the next few decades, attributed to the global net zero ambitions by 2050. With copper…