DBGI fundamentals are awful and they've now had a the equivalent of a 1 for 2500 reverse split in the past 10 months alone. Too funny !

DBGI +7.05 to 15.57 in pre-market on heavy volume of 1.2M. No news that I could find, but something must be spiking the stock higher !

Congratulations, are you taking some quick profits ?

VFS +18 to 87, the insanity continues .... options started trading today and the PUT premiums are astronomic. At the money PUTs expiring on 9/15 cost over 50% of the stock price !

ELTK +.26 to 8.45, I added a few shares this morning and placed a few GTC orders at lower prices ....

Wade: I'm not a market timer .... if I were, I would have missed out on lots of bull markets. There's always something to worry about, but usually the market goes up. Right now I'm about 85% in stocks and 15% in SGOV. Typically I'm around 95% invested and in the old days going back 20 years I was always 10% to 20% on margin.

VFS valuation is incredible -

Fortune Magazine -

VinFast Auto skirted the usual rigor of a conventional IPO in favor of an easier path to market via SPAC.

The Vietnamese startup that sold a grand total of 18,700 EVs in its six-year existence—some so poorly built they now are compensating angry customers—cleverly engineered its August listing to ensure there is barely any free float.

This disrupts the market’s traditional role as an instrument of price discovery, enabling VinFast to achieve on paper a $120 billion market cap that ranks it as the world’s third most valuable carmaker behind only Tesla and Toyota.

In the process, founder and chairman Pham Nhat Vuong’s net worth has skyrocketed virtually overnight. According to Forbes, he is now the 28th richest person on earth, right behind Nvidia CEO Jensen Huang.

NVDA is risky at $458 ..... reminds me of TSLA at $414 back in November 2021, nearly two years ago. TSLA is a great company but the valuation got too high. TSLA is now at $238, down 43% the past 21 months. Gross margins are under pressure from the competition. The same fate awaits NVDA, it's only a matter of time. AMD, GOOG. MSFT and AMZN are all working on AI chip design and they have deep pockets. The actual manufacturing is outsourced to semiconductor giant TSM, based in Taiwan, China.

VFS +11.40 to 60.40 on heavy early volume of 3.2M ..... the day traders are on a joyride, but it's a game of musical chairs some will become bag holders.

Even the classic IHUB view has been degraded over the years. I don't know who's doing the website design, but they need to hire someone else, ASAP.

Strasburg to retire due to injuries ..... that's the risk of these HUGE money contracts .... one never knows how long the pitcher will last. In this case, sadly it was just 31 innings !

He signed a seven-year, $245 million contract in December 2019, which was a record-high deal for a pitcher at the time. Since then, he has pitched just 31 1/3 innings. He most recently pitched on June 9, 2022, his only appearance of last season.

During the summer of 2020, Strasburg had season-ending carpal tunnel surgery to address tingling and numbness in his hand. He was later diagnosed with a rare condition, which might have been causing those symptoms.

Strasburg underwent surgery for thoracic outlet syndrome in 2021. The condition manifests when pressures in the space between the collarbone (clavicle) and the first rib increase to the point of impinging vessels or nerves. Strasburg was reportedly unable to get back to form after the procedure, which included the removal of a rib and two neck muscles.

https://www.yahoo.com/sports/report-nationals-stephen-strasburg-world-series-mvp-to-retire-due-to-rare-condition-183351951.html

Jim Cramer ETF to close after sharply underperforming the S&P500 and failing to attract funds - as of this morning, LJIM is up a mere 1.7% since inception on 3/1/23 compared to a gain of 12.8% for the S&P500, including dividends.

https://www.etf.com/sections/daily-etf-watch/long-jim-cramer-etf-closes-after-13m-inflows

LJIM
SJIM

Wade - no, they're different - GERN evidently did not meet criteria for priority review -

https://www.fda.gov/patients/learn-about-drug-and-device-approvals/fast-track-breakthrough-therapy-accelerated-approval-priority-review

VFS +19.47 to 37.05, glad I couldn't find any shares to short this morning. Yikes ! The day traders are going crazy with this stock.

CUBI -1.02 to 34.03, wish I had sold more recently in the $40's. The momentum has shifted and I think it might be heading back below $30 where it was just 6 weeks ago. At that point I might start buying back shares .... I'm also think the broader market could correct more in the coming 10 weeks. 'Tis the season ! So I've been doing more selling than buying recently.

GERN - the June 16th PDUFA date pretty much guarantees that Geron will be doing a capital raise before then .... more dilution on the way, probably in Q1 '24 .... not good news.

GERN announced it in a PR this morning .... how did you miss it ? The FDA doesn't have to wait 75 days to announce the PDUFA date.

Geron Corporation (Nasdaq: GERN), a late-stage clinical biopharmaceutical company, today announced that the United States Food and Drug Administration (FDA) has assigned a standard review and a Prescription Drug User Fee Act (PDUFA) action date of June 16, 2024 for Geron’s New Drug Application (NDA) for imetelstat for the treatment of transfusion-dependent anemia in patients with lower risk myelodysplastic syndromes (MDS). In addition, the FDA informed the Company that it is currently planning to hold an advisory committee meeting as part of the NDA review.

“We look forward to working with the FDA to complete the NDA review process on a timely basis,” said John A. Scarlett, M.D., Geron’s Chairman and Chief Executive Officer. “With the PDUFA date now set, we continue to expect an imetelstat launch in the United States by the end of the first half of 2024, subject to FDA approval.”

https://finance.yahoo.com/news/geron-announces-pdufa-date-imetelstat-120000799.html

GERN - an FDA priority review is within 6 months, a standard review is 10 months. The assigned PUDFA date is 10 months away.

GERN being hit because the FDA did not grant a priority review - so the PDUFA date is not until next June 16th. A long time to wait. Seems like the FDA is not enthusiastic about Imetelstat. This clearly leaked out a few days ago and caused the initial selloff.

fly -

Geron:FDA assigns standard review, PDUFA action date June 16 for imetelstat NDA

Geron announced that the United States Food and Drug Administration, FDA, has assigned a standard review and a Prescription Drug User Fee Act, PDUFA, action date of June 16 for Geron's New Drug Application NDA for imetelstat for the treatment of transfusion-dependent anemia in patients with lower risk myelodysplastic syndromes, MDS . In addition, the FDA informed the Company that it is currently planning to hold an advisory committee meeting as part of the NDA review. "We look forward to working with the FDA to complete the NDA review process on a timely basis," said John A. Scarlett, M.D., Geron's Chairman and Chief Executive Officer. "With the PDUFA date now set, we continue to expect an imetelstat launch in the United States by the end of the first half of 2024, subject to FDA approval."

VFS +3.85 to 21.43, I'd like to re-short, but no shares available at IB or Ameritrade ..... hardly surprising.

GERN -.15 to 2.48, if it retests the April low around $2, I'll probably pick up a few shares, but strictly for a trade. I remain skeptical about the company's long term prospects.

GERN -.10 to 2.51 despite announcing FDA acceptance of its NDA .... what's behind this ongoing selloff ?

https://finance.yahoo.com/news/geron-announces-fda-acceptance-drug-120000177.html

ELTK +1.19 to 8.85 after posting another strong quarter. Q2 EPS of $0.22 vs $0.13 y/y.

https://finance.yahoo.com/news/eltek-ltd-reports-2023-second-110000061.html

GTEC +.17 to 1.75 in pre-market after posting Q2 EPS of $0.18 versus $0.13 y/y. The stock sure looks cheap by historic standards. A year ago it was around $3.50 and two years ago around $6.

MPW now halted as they respond to the WSJ article -

Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today responded to the most recent of several false and misleading articles published by the Wall Street Journal, in this case related to the Company’s May 23, 2023 transaction with Prospect Medical Holdings (“Prospect”).

While MPT engaged with the author, Jonathan Weil, to ensure full awareness of all the facts surrounding this transaction and the Company’s investment in PHP Holdings LLC (“PHP”), Mr. Weil decided to wholly disregard this information in the article that was published. Importantly, the Wall Street Journal proceeded with publication before Prospect was able to provide necessary clarifications, even though Prospect indicated it intended to do so and the article itself acknowledging the extraordinary disruption and distraction that Prospect is currently dealing with following a ransomware attack.

As such, MPT believes it is important to clarify the following facts for the investment community:

The California Department of Managed Health Care’s (“DMHC”) hold sent to Prospect on July 20, 2023 is a standard, expected, and non-controversial part of the approval process for this transaction.
This hold indicates that certain additional information is required prior to the issuance of final approval from the DMHC, which the Company fully expects to obtain in due course as it has been advised it is highly unlikely the regulators would not approve a transaction following receipt of all required information.
In the unlikely event that the regulator does not grant approval for the transaction, MPT’s investment in PHP would remain a convertible note with identical economics to equity ownership.
As a result, DMHC’s request was deemed immaterial to MPT’s financials and thus did not require disclosure.
The Company’s recording of its $68 million equity investment as revenue in the second quarter was fully consistent with accounting requirements and was entirely unrelated to the DMHC approval process. Mr. Weil’s attempt to conflate the two matters has no basis in fact.
Amid a continued chorus of intentionally deceptive claims being perpetuated by individuals with a clear financial incentive to do so, MPT also believes it is notable that the publication of this article coincides with both market hours and the expiration of equity put options which settle on the third Friday of every month. MPT remains focused on creating long-term value for shareholders through its investments in hospital real estate and refuses to be distracted by the continued spread of misinformation.

MPW -1.08 to 6.42, continuing to get pummeled as more bad news hits - they'll likely have to suspend the dividend entirely until they emerge from this financial distress.

A California state regulator on July 20 ordered that the transaction between MPT and Prospect Medical Holdings be put on hold, according to the order that the regulator sent to Prospect. MPT didn’t disclose the regulator’s order when it reported second-quarter results, or in its quarterly report filed the next day with the Securities and Exchange Commission.

https://www.wsj.com/business/deals/cracks-deepen-for-americas-biggest-hospital-landlord-struggling-tenants-a-bailout-on-hold-21e3294c?st=8xrym4sm2zdaqny&reflink=desktopwebshare_permalink

VFS -6.10 to 13.90, I just covered at 13.81 ..... I think this will go under $5 in the long term, but it's also very volatile and might get back to $20 in the next few days. Very tough to borrow shares though .... IB currently has no shares available and the latest borrow rate is 75% annualized. I'd like to re-short at higher prices, but shares may not be available.

CVS -5.92 to 66.80, bouncing back from the morning low of 64,62 after the company reaffirmed 2023 adj EPS guidance of $8.50 to $8.70 and expects immaterial impact to long term outlook. The risk is that Blue Cross in other states will follow California's new model, but that remains to be seen. Even so, CVS may have to make some pricing concessions.

I added some shares in the $65's, hedged with covered calls. My cost basis gets lower each week as I roll over the calls.

8K -

CVS Health Corporation (“CVS Health,” the “Company,” “we” or “our”) understands that Blue Shield of California has announced today, as part of a new pharmacy care model, that it will use a number of pharmacy service providers beginning in 2024. CVS Caremark will continue to provide specialty pharmacy services. The financial impact associated with the partial termination of the Blue Shield of California contract is not expected to have an impact to our previously issued 2023 guidance and is expected to have an immaterial impact on our longer-term outlook. CVS Caremark remains the leading pharmacy benefit manager in the United States, serving more Americans and more health plans today than any of our competitors. CVS Health believes customers choose CVS Caremark because of its ability to seamlessly administer complex pharmacy and specialty pharmacy benefits with high levels of customer service and satisfaction, as well as our leading cost position. We are pleased to continue to serve Blue Shield of California customers for their specialty pharmaceutical needs. Specialty pharmacy spend now represents over 50% of pharmacy benefit spend in the marketplace. We remain confident in the value that CVS Caremark provides to our customers and that our integrated solutions will continue to resonate in the marketplace as we deliver our leading cost position and service excellence to our customers.

CVS Health reaffirms its 2023 full year GAAP diluted earnings per share (“EPS”) guidance range of $6.53 to $6.75, adjusted EPS range of $8.50 to $8.70 and cash flow from operations range of $12.5 billion to $13.5 billion.

VFS (20.00) I shorted a few shares today at IB. Wish they'd had some available yesterday when it traded over $30. A big haircut already. It's not worth more than Ford or GM !

GCT (11.95) - I missed the buying opportunity Wednesday morning in the low $10's, but it's on my watchlist for potential purchase on a pullback -

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172597110&txt2find=gct

GERN -.14 to 2.56, are you considering adding more shares ? Or too worried that the FDA rumor might actually be true ?

CI and UNH also down in sympathy with CVS -

WSJ -

The PBM business, which negotiates drug prices and offers other services like mail-order pharmacies, is highly profitable and largely controlled by just three companies: CVS, Cigna and UnitedHealth Group. Any sign those long-term profits are potentially at risk can send jitters through Wall Street.

Shares of Cigna and UnitedHealth also fell Thursday.

CVS deservedly getting hit, but I don't think many analysts saw Blue Shield of California dropping them .... it's out of the blue ! Presumably some analyst downgrades will be forthcoming, but whether Blue Shield will really be saving money by parceling out the pharmacy process remains to be seen. Sounds like "California Math" to me. jmho

CVS -5.02 to 67.70 in pre-market after Blue Shield of California drops them -

https://www.wsj.com/health/healthcare/a-big-health-insurer-is-ripping-up-the-playbook-on-drug-pricing-ec152227?st=wzt08k7gn3lgors&reflink=desktopwebshare_permalink

I bought some SPXS yesterday and added to it today .... I think this correction is picking up some momentum and has further to go. I'm guessing a 5% to 10% pullback, but maybe even more ?

Burry's Scion Fund has done rather well over the past 3 years according to the article -

While one big payoff doesn’t guarantee future returns, Burry does have a strong investment record. Traders following the investments disclosed by Scion’s over the last 3 years (between May of 2020 and May 2023) would have made annualized returns of 56% according to an analysis by Sure Dividend. Over the same period, the S&P 500 had annualized returns of about 12%.

Burry bets $1.6B on a market crash -

https://www.yahoo.com/finance/news/michael-burry-big-short-fame-162713259.html

GERN -.19 to 2.79, interesting, sounds like a manipulative false rumor, but maybe not. We'll see what happens. Good luck.

PYPL +.49 to 59.96, I added some shares this morning .... hedged with covered calls that I roll over weekly. Decent premiums on the calls. The stock is very near it's 52wk and multi year low which I think will provide technical support, so I think it's a very good buy in the $59's. jmho

VFS seems grossly overvalued .... hopefully shares for shorting will soon be available - check out the valuation cited in this article -

https://www.reuters.com/business/autos-transportation/ev-maker-vinfasts-shares-rise-premarket-trade-before-nasdaq-debut-2023-08-15/

Fidelity is confirmed down as evidenced by 5000 complaints in the past 30 minutes on Downdetector -

https://downdetector.com/status/fidelity/