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What else is brewing
Neuralink, Elon Musk’s brain-implant company, received FDA approval to begin its first-in-human study.
The ChatGPT app topped 500,000 downloads in the first six days after it was released for iOS, according to data.ai. That’s the second-best app debut of the last two years after Trump’s Truth Social.
Whoops: Famed tech investor Cathie Wood sold off her entire Nvidia stake in early January, before the stock started ripping and added $560 billion in market value.
Germany slid into a recession as higher prices dampened consumer spending.
Tako, TikTok’s new AI chatbot, is getting a test run
Yesterday, the Supreme Court ruled to limit the EPA’s power to regulate wetlands—a move considered a win for property-rights advocates and a blow to environmentalists.
The property owners most immediately impacted are the Idaho couple who brought this case to court: They sued the EPA over a permit issue that prevented them from building a house on their property near Priest Lake. As a result of the Supreme Court’s ruling, the pair can get to work on their teal “Lake Days Are the Best Days” sign.
But the consequences, of course, extend beyond rural Idaho. As a result of the SCOTUS ruling, the EPA’s power over the nation’s wetlands will shrink like a pair of linen pants in the dryer: Roughly half of all wetlands and about 60% of streams in the US will lose federal protection.
It presents risks for the environment but opportunities for some industries—homebuilding and oil and gas, in particular—which no longer have to worry as much about complying with the Clean Water Act and its many permitting requirements (Section 401, iykyk).
Now, homebuilders will be able to fill wetlands and construct housing developments on or near them without the Army Corps of Engineers signing off.
Companies will be able to discharge pollutants into unprotected wetlands with no regulatory oversight.
This isn’t the first instance of the Supreme Court weakening environmental regulations recently. In June of last year, SCOTUS also limited the EPA’s power to regulate carbon emissions.—CC
Read down to the trivia answer
The Roaring Chips
As we outline in the news today, Nvidia’s stock has soared in 2023, largely thanks to how critical its products are in empowering ChatGPT and other services from healthcare to cloud to computer hardware.
Today, Nvidia is one of the most valuable companies in the world, with a market capitalization greater than Berkshire Hathaway, Meta, and Tesla.
After its earnings beat Wednesday, CEO and co-founder Jensen Huang said the company had seen “surging demand” for its data center products because their “chips” work seamlessly with AI.
In more scientific terms, a “chip” or semiconductor is defined as a substance that has a conductivity between an insulator and that of most metals, either due to the addition of any impurity or because of temperature effects.
Devices made of semiconductors, notably silicon, are essential components of most electronic circuits.
In simple terms, a semiconductor is a material that controls a flow of electricity.
It’s difficult to think of an aspect of our lives that doesn’t involve semiconductors. The device you’re using right now, the fridge in your kitchen, and the smart TV you might binge shows on are all made possible by finely etched bits of silicon.
It’s the most manufactured item in human history. But how did it come to be?
A New Jersey lab
The transistor, a miniature semiconductor, was born in New Jersey in December 1947, after World War II.
Three physicists at Bell Laboratories in Murray Hill, N.J., built the world’s first transistor.
William Shockley, John Bardeen, and William Brattain had been looking for a semiconductor amplifier to replace the vacuum tubes that made radios and other electronics so bulky, hot, and energy-requiring.
Once they made their lab discovery, they didn’t speak of it to anyone for six months. They wanted to experiment further and apply for patents before word got out.
On June 30, 1948, they held a press conference in New York City, showing off a transistor model and a TV and radio with transistors in place of the tubes.
Nobody was talking about computers, but it was a first look at the future. The immediate response? The New York Times mentioned it at the bottom of its "News of Radio" column on page 46.
A Bell Labs engineer said then, "The transistor in 1949 didn't seem like anything very revolutionary to me. It just seemed like another one of those crummy jobs that required one hell of a lot of overtime and a lot of guff from my wife."
Gradual improvement
Only 20% of the transistors worked and were hard to manufacture. But the technology kept improving.
It got its first consumer application in December 1952 in a hearing aid, where it replaced one of three tubes and lowered battery costs. By 1954 the transistor was in 97% of hearing aids, and sales of the devices were up 50%. That year the first transistor radio came out.
Then, in 1959, Texas Instruments’ Jack Kilby and Fairchild Semiconductor’s Robert Noyce combined a sequence of transistors on a single wafer of a silicon crystal.
This enabled mass production, laying the groundwork for the microprocessor, the computer on a chip, to form in the 1960s. Intel brought it to market in 1971, just before tech giants like Apple and Microsoft were founded to spark a revolution.
The brain
Now, investors realize microchips are the lifeblood of the modern economy, particularly an AI-driven economy.
Nvidia, for example, is the S&P 500’s top performer in 2023:
Last year, lawmakers passed the 2022 CHIPS Act to remake the U.S. into a semiconductor powerhouse, partly to reduce America’s reliance on foreign nations for these tiny chips that power everything from dishwashers to computers to cars.
The law included $39 billion to fund the construction of new and expanded semiconductor facilities. Some chips feature more than 50 billion tiny transistors that are 10,000 times smaller than the width of a human hair.
Tiny but powerful. More important, functional and critical to our modern world. That’s unlikely to change.
“People usually compare the computer to the head of the human being,” said Masayoshi Son, a Japanese billionaire technology entrepreneur. “I would say that hardware is the bone of the head, the skull. The semiconductor is the brain within the head. The software is the wisdom. And data is the knowledge.”
Dive deeper
For more on chips, check out the 2022 bestseller Chip War: The Fight for the World’s Most Critical Technology.
TRIVIA ANSWER
In 2021, almost 1.14 trillion chips were sold globally. That’s about 140 chips for every person on the planet, or 130 million per hour.
Solar Power Investment to Exceed Oil for First Time (FT)
Speaking of energy, solar power investment is set to exceed spending on oil production this year for the first time, the head of the International Energy Agency (IEA) said.
If the trend persists, it could help curb global emissions and spark continued growth in clean energy projects.
“If these clean energy investments continue to grow in line with what we have seen in the past few years?.?.?.?we will soon start to see a very different energy system emerging," the IEA’s executive director told The Financial Times.
In 2023, $1.7 trillion will be spent on clean tech vs. $1 trillion on fossil fuels. In 2018, the roughly $2 trillion in annual energy investment was split between fossil fuels and clean tech.
Why it matters:
A rebound in economic growth following the Covid-19 pandemic is driving increased spend on clean energy. Plus, concerns over the energy supply’s reliance on just a handful of countries, such as Russia, have also fueled the trend.
The U.S. Inflation Reduction Act, which provides $369 billion in subsidies and tax credits for clean energy technologies, also has helped.
Annual clean energy investment is expected to jump by 24% compared with 2021, while spending on fossil fuels will rise by 15%.
Solar power is the key theme in the coming decades. Total solar spending in 2023 could hit $380 billion, exceeding the $371 billion on oil production. Compare that with a decade ago, when oil production spending outpaced solar about five-fold.
Gas Prices Stay Low(er) Ahead of Summer Travel Season (NYT)
Memorial Day marks the start of the summer travel season in the U.S. Fortunately for Americans, gas prices have fallen way down from a year ago.
Credit a stronger oil supply and weaker-than-expected demand for why some families could save hundreds of dollars on Memorial Day road trips this weekend.
The national average price for regular gasoline is a full dollar a gallon lower than a year ago. Drivers paid over $4.60 in May 2022, and prices had reached $5 by the second week of June when inflation peaked. This week, they paid about $3.50 a gallon for regular gasoline, according to AAA.
Prices spiked last year after Russia invaded Ukraine in February. But the U.S. and other large countries released oil from their strategic reserves when prices surged, which has helped keep prices lower.
Why it matters:
Gas prices are posted on big colorful signs along major highways and in small towns. Thus, they can have a powerful psychological impact on consumers and their feelings about prices, inflation, and the overall economy.
Thanks to better-than-expected supply and relatively low demand, the U.S. benchmark oil price gradually fell from around $120 a barrel last summer to about $72 a barrel on Thursday.
Gas impacts millions of Americans, as AAA forecasts that Memorial Day road trips will be up 6% over last year, with more than 37 million Americans driving to their destinations.
In a notable shift, many people buy fuel at big-box retailers such as Costco, BJ’s, and Sam's Club, which often have lower prices than independent gas stations. They took market share as prices rose in 2021 and 2022 and might not relinquish it anytime soon.
Fancy Nvidia? You might like this one
WSJ’s Jacky Wong thinks Taiwan Semiconductor Manufacturing (NYSE:TSM) is a cheaper AI play than investing in Nvidia. TSM manufactures Nvidia’s chips and controls 90%+ of the advanced chip market.
The stock trades with a 17x price-to-earnings ratio — below its historical average and lower than Nvidia’s 68x, according to Morningstar.
Watch your step: TSM has been caught between China and Taiwan’s political tensions — leading to Warren Buffett selling nearly his entire stake.
Cruises are jam-packed and overbooked
Cruise operators are seeing occupancy rates above 100% — as passengers took advantage of deals late last year. For some, that’s nearly double the occupancy rate from 2022.
Jack, I’m flying! Cruise lines are slowly rebounding from their COVID lows when sales fell as much as 90%. Royal Caribbean (NYSE:RCL) is up 57% this year — seeing booking volumes higher than pre-COVID days.
ARTIFICIAL INTELLIGENCE
Public Hype vs. Internal Challenges: AI Company Struggles Behind the Scenes
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Following the craze in AI stocks? You’ve probably heard of C3.ai (NYSE:AI) — who won the stock ticker jackpot. And it only took three name changes:
2009 founding: C3 Energy (tracking emissions)
2016: C3 IoT (internet of things)
2019: Finally… C3.ai
Despite C3’s massive 153% gain this year, past employees interviewed by Bloomberg painted a troubling picture of the company:
Issues signing new customers with a micromanaging CEO Tom Siebel who impulsively fires people.
A habit of announcing unfinished products and running into delays in launching those products.
This year, Nvidia’s 160% rally is backed by strong demand for its AI chips. And Microsoft is benefiting from its investment in ChatGPT owner OpenAI.
While C3 mostly uses its tech to help other companies with analytics similar to Palantir (NYSE:PLTR), “There’s little fundamental reason to explain the recent [C3] rally,” — per Canaccord Genuity analyst Kingsley Crane.
Red flags at the company
1/ In April, Kerrisdale Capital accused C3 of inflating earnings to meet analyst estimates with a seriously overvalued stock — sending $AI down 37% in two days.
2/ Siebel used his connections to land early customers — “which drove many early wins,” but “is simply tapped out” — per Kerrisdale Capital.
3/ Baker Hughes made up 43% of C3’s sales in the recent quarter — who owned 12% of C3’s stock but has mostly sold. Baker’s CEO has also left C3’s board.
The summer season in the Northern Hemisphere starts this weekend—and already US air travel is near pre-pandemic levels as Americans head overseas. It’s not too late to book a Hamptons vacation: In fact, procrastinators might find a deal as the real estate frenzy on eastern Long Island cools off. And one popular post-pandemic holiday perk is “WFA,” in which employees at companies including American Express and Google
Earnings
Earnings spotlight: Tuesday, May 30 - HP (HPQ), Hewlett Packard Enterprise (HPE), Ambarella (AMBA), and Box (BOX).
Earnings spotlight: Wednesday, May 31 - Salesforce (CRM), CrowdStrike (CRWD), Chewy (CHWY), and NetApp (NTAP). Seeking Alpha analyst Vlad Deshkovich stated: "Estimates for Salesforce earnings have been revised upwards significantly (22.9%) in response to its most recent quarter but are still not too aggressive in terms of their assumptions."
Earnings spotlight: Thursday, June 1 - Broadcom (AVGO), Dollar General (DG), Lululemon Athletica (LULU), Dell Technologies (DELL), Macy's (M), and Zscaler (ZS). Seeking Alpha analyst Albert Anthony noted: "Today I am giving this stock a buy rating due to it being a leading brand in its sector, its stable and growing dividends, its success as a provider of infrastructure
DIGIT OF THE DAY
55% Of Gen Z Invests in Crypto
Part of growing old is realizing that the younger generation is going to be nothing like you.
According to FINRA’s Gen Z and Investing report:
Gen Zs are investing at a younger age — with nearly 25% saying they started before turning 18.
Top three goals are to save enough to travel, save for unexpected expenses and comfortably retire.
Major factors that influence the decision to start investing are the ability to invest with small amounts
I guess futures will go nuts either up or down, who knows.
The deal must have been made last night sometime around 8 Eastern
The Bitcoin immediately rallied about $300 and is creeping higher
The stock market participants have another 48 hours to sweat it out
First indications will be the index and bond futures markets at 8 Monday evening
You got that right
Up and down then back up which is typical of bankruptcy plays until they are delisted
------------------------DEBT CEILING DEAL------------
https://www.nbcnews.com/politics/congress/white-house-republicans-reach-tentative-debt-ceiling-deal-rcna86199
$REV I played that and made a really nice chunk
*****LXRX***
Share Statistics
Avg Vol (3 month) 3 800.55k
Avg Vol (10 day) 3 1.36M
Shares Outstanding 5 189.56M
Implied Shares Outstanding 6 N/A
Float 8 81.29M
% Held by Insiders 1 1.17%
% Held by Institutions 1 81.33%
Shares Short (May 15, 2023) 4 6.45M
Short Ratio (May 15, 2023) 4 5.72
Short % of Float (May 15, 2023) 4 6.98%
Short % of Shares Outstanding (May 15, 2023) 4 3.41%
Shares Short (prior month Apr 14, 2023) 4 4.2M
******LXRX***
Major HoldersCurrency in USD
Breakdown
1.17% % of Shares Held by All Insider
81.33% % of Shares Held by Institutions
82.29% % of Float Held by Institutions
155 Number of Institutions Holding Shares
Top Institutional Holders
Holder Shares Date Reported % Out Value
Artal Group S.A. 89,778,234
BVF Inc. 16,149,179
Blackrock Inc. 5,656,927
Vanguard Group, Inc. (The) 5,299,380
FMR, LLC 5,240,247
JP Morgan Chase & Company 3,305,991
Shaw D.E. & Co., Inc. 2,940,997
NEA Management Company, LLC 2,382,286
Pinnacle Associates, Ltd. 1,940,224
Betting on reverse splits has been a meme going back to last fall
Based on the current trend continuing for all of 2023 the total could reach 365 or one reverse split for each calendar day
Bankruptcy bets have been less prevalent
Hertz was the best during the Covid era
Bed Bath & Beyond was and is the star for 2023
Times change
All these nano cap and micro cap companies, most of which can be considered as still at the start up stage,
Simply can’t achieve any degree of sustained growth in revenues that exceed the operational expenses
That said, more Chapter 11 and Chapter 7 plays are in store for the remainder of 2023 and probably for the next few years
This list is derived from Friday’s Barchart new lows
All are priced under $1
ACB AKAN BBLN BODY BURU CGC DBD DTSS EMKR EXPR FLJ GBR CEI GLBS IRNT JG JT KSPN LFLY LSF MBRX MCOM MIMO MNTS NKLA OWLT FREQ GROM HYFM INVO NBY OGI PBLA SBIG SOPA
There remain hundreds of listed companies priced below a buck
Sorry but no OTCBBs or pinks on this board…
$IDEX could be next BK announcement, I have $2000 I bought Friday.. LOTTO play !!
BK stock list
https://www.bankruptcompanynews.com
When it comes to day flipping, I suppose we do
Lol don’t we all
You have a gambling problem
"The Patent news" not familiar with this, is it a service that provides info on new patents?
Chuckle
More bankruptcy plays ahead in 2023
I don’t concern myself with them
The issue isn’t the percent return until they disappear
The issue is how much money you put into them before they disappear
$1000
$10000
$100000
$1000000
Question mark
Gotcha I was looking, basically only saw this one
I just keep a list as I see PRs come across....this is the only ch11 play I have listed, I have about 8 tickers that are due to delist but they are not ch11/BK plays.
Where do I find a list of BK stocks?
$QTEK .27 monster, don't forget to trim a few
Saw it on the patent news, thx.
IRNT one to watch mark
$QTEK .24+ nice poke...
I poked at it lol
BK/Ch 11 plays are the best.....up 140%....lol
$QTEK .18, $TTOO .11
QTEK chapter 11 wouldn't touch it with a ten foot pole
$TTOO action in A/Hs as well, keep on watch
$QTEK .13 in A/Hs, could be Monday runner
LXRX..................a/h
$RGTI nice day up 100% for the week -- expecting 1.55 wall to be tested next week.
$EFSH could be next to return 100% !!!
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