Conservative Bank StartUp GloriFi Shutters After 3 Months
After less than three months in business, a bank startup funded by billionaire Donald Trump supporter Peter Thiel and marketed as "anti-woke" for "pro-freedom" Americans is closing its doors.
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The bank, GloriFi, burned through $50 million in investment funds, fired off the majority of its personnel on Monday, and informed employees that it would be closing down, according to the first story from The Wall Street Journal. Last Friday, hoped-for funds that would have kept the operation going fell through.
The website of GloriFi advised users that "We will be cancelling all accounts registered to date." Savings accounts closed on December 6, and checking accounts on Friday.
For customers who find Wall Street too liberal, GloriFi had been promoted as an alternative conservative banking system.
According to a Journal profile of the business earlier this year, Toby Neugebauer, an entrepreneur and significant GOP donor, and his business partner Nick Ayers, the chief of staff for former Vice President Mike Pence, claimed that a sizable market of plumbers, electricians, and police officers were fed up with big banks that didn't share their values.
According to the Journal, GloriFi promoted capitalism, family, law enforcement, and the freedom to "love of God and nation" along with offering bank accounts, credit cards, and plans to offer mortgages and insurance.
According to Rolling Stone, Neugebauer also promoted ideas like credit cards fashioned out of shell casings, reductions on homeowners insurance, and help with legal costs for people who use firearms for self-defense.
Candace Owens, a right-wing broadcaster, served as the company spokesman.
Along with Thiel, the business attracted investors including Ken Griffin, the founder of Citadel, and Kelly Loeffler, a former Georgia Republican senator.
However, within months, GloriFi missed launch dates, alleging poor technology and vendor issues, and, according to news accoun
ARKK’s Cathie Wood is ALL in on These 2 Stocks!
For those of you not familiar with Cathie Wood, she built her reputation on going against the grain, the norm and leading her ARK firm in the same manner. Her tech stock ETF, ARKK took a major hit during this market recession and is currently trading at 36.51. Recent market turns have done little to sway her however and continues to be the trailblazer scooping up these 2 stocks under $5 each. Let’s discuss.
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Welcome to Money Talk Sundayz. I'm your host Stevie Bee. For those tuning in via your favorite streaming platform hit that like and share button. You can also subscribe to the Money Talk Sundayz podcast. The link will be in the description box. For those viewing on YouTube, like, share, and subscribe. You can even hit the notification bell to receive the alerts of new videos dropping.
The great Cathie Wood has gone shopping in this heavily discounted market. Black Friday really has come early as she scoops up these 2 stocks under $5. Each one has a substantial upside potential.
The first stock is ATAI. ATAI is at the forefront of what could be a new paradigm in treating mental health disorders – it is testing the use of psychedelics for medicinal purposes.
The company’s business model is differentiated; it operates via a decentralized platform that purchases and runs clinical programs with small affiliate companies formed around the pipeline candidates. All can access shared funds, with the capital allocated per needs.
ATAI currently has 8 candidates aimed at treating depression, anxiety, schizophrenia and substance abuse.
Leading the way is PCN-101/R-ketamine, indicated as a therapy for treatment resistant depression (TRD). Then there is RL-007, which targets cognitive impairment associated with schizophrenia. Both of these drugs are currently in phase 2 studies.
Further back in development, the pipeline includes GRX-917 (deuterated etifoxine), which is being developed for generalized anxiety disorde
SPRO, AMPX, AIRT, GSUN, SHPH & More; Feds Rate Hike Rocks Markets
SPRO, AMPX, AIRT, GSUN, SHPH & More; Feds Rate Hike Rocks Markets
The feds aren’t backing down raising interest rates another 0.75 percent this past week in a bid to stifle inflation. The aggressive tactics are slowing down the economy stoking fears of an impending recession. This is the 5th time this year the fed has raised the interest rates increasing the possibility of recession, job losses, higher credit costs and other unknown consequences. With the Fed hitting the brakes on an overheated economy, the main question for many market watchers is how fast Fed Chair Jerome Powell will continue to raise rates and whether that spills over into a recession. Are you surprised? 40% of the US money was printed in the last 2 years. Let’s discuss.
Welcome to Money Talk Sundayz. I'm your host Stevie Bee. For those tuning in via your favorite streaming platform hit that like and share button. You can also subscribe to the Money Talk Sundayz podcast. The link will be in the description box. For those viewing on YouTube, like, share, and subscribe. You can even hit the notification bell to receive the alerts of new videos dropping.
With so much of our money having been printed over the course of the last 2 years to deal with the Covid pandemic and the business and economic slowdown, inflation has run unabated. To quell this free-for-all, the fed raised interest rates by another three-quarters of a point, the third time they’ve raised it by this much this year. The Federal Reserve has identified inflation as Public Enemy No. 1 and with this move, there are going to be winners and losers. On to last week’s biggest winners in the market.
Coming in at number 1 with a one-week change of 138.10% is Spero Therapeutics, Inc. SPRO, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States.
Spero closed out trading Friday at 1.97
How did you fare with MARK last week?
Remark Holdings (MARK) Craters During Trading; What's Next for MARK?
Remark did as expected albeit after a quick and short lived run up in pre-market Monday morning. On Sunday during the podcast I reported that it was trading at 2.86. By the next morning it was well into the $6 range. The perfect time to play the put option, just as I mentioned during that episode. Let’s discuss what exactly happened with MARK.
Welcome to Money Talk Sundayz. Thanks for tuning in. Hit that like button on your way in the door and lets get started.
MARK was the big question for Monday. Sources from all walks of life were swearing by this stock as the one. But the more in premarket it rose the more inevitable the pullback or correction. And the pullback game was strong. Within 48 hours of the last episode Mark was down from over $6 to dipping below $2.
Some of you asked what happened. Why did it fall so much? The answer is pretty simple, human emotion. This stock like so many others is viewed as a meme stock. Investors in meme stocks for the most part are in it for the short term gains. A run up like what happened Monday morning is exactly what investors are looking for. They cash in quick and fast while like many of you who weren’t already invested catch on too late and buy up the shares they are selling overvalued thereby driving the price down.
One user told me that she bought in at $7 and was down $1100 by Monday afternoon. That is the game. Buy the news, sell the hype. Too many bought the hype aka the run up not realizing a swift fall was coming.
After being burned this way on a number of occasions, I offered up a suggestion on the podcast. I recommended a put option play banking that what happened was indeed going to happen. And it did! By close of business Monday my put option was up over 80%. I’m at work with multiple browser tabs open and one of the tabs was glued to the price of MARK as it fell. I eventually took my profits on that option play Wednesday being up 115%. It felt good being able to read the play… and with time and expe
Vaxart Buries Investors Under Avalanche of B.S. Says Judge
Bros Nation, I know, I know. I said we were going to be off this week for my birthday this weekend but news came across my desk about one of my favorite stocks, VXRT. This is good news/bad news depending on how you look at it but news nonetheless. The ongoing lawsuit with VXRT continues despite a much anticipated Sept 30 resolution date. The judge overseeing the case deals a blow to VXRT and investors respond in kind. For more on this stay tuned.
Welcome to the Money Talk Sundayz podcast. I’m your Investment Bro Stevie Bee. Do the channel a solid and hit that like button. If you’re not already subscribed you can do so now or at the end of the video. Finally, if you have friends that are invested in Vaxart or VXRT share this video. The latest VXRT news leaves me with mixed feelings but still bullish.
On September 30, 2021 Judge Vince Chhabria called Vaxart out on their dismissal claims accusing the biotech company and controlling owner, hedge fund Armistice Capital LLC of burying investors in an “avalanche of bs”. The judge did not outright rule that the defense were guilty of what they were being accused of but did go so far as to say that the allegations made against them were “plausible”.
Quick background as to the nature of the lawsuit. VXRT and Armistice are being sued for multiple materially misleading statements in June 2020 that claimed it was partnering with Attwill Medical Solutions Sterilflow LP to produce "a billion or more" COVID-19 vaccine doses per year, even though Attwill wasn't certified to produce the vaccines. Vaxart also claimed a day later that its Covid-19 vaccine had been "selected for the U.S. Government's Operation Warp Speed.” That wasn’t the case at all.
During a hearing held via Zoom, Judge Chhabria said it appears that the investors have plausibly alleged that Vaxart Inc. and its majority stockholder and controlling owner, hedge fund Armistice Capital LLC, intended to artificially prop up the price of the penny sto
NFT Market Stalls; Are They Still Worth Buying?
Welcome to Money Talks with your Investment Bro Stevie Bee. I just have one question to ask my viewers today… Are NFTs finally seeing the door? You know, that new fad that hopped on the scene in the last year called non-fungible tokens. From the jump I was extremely skeptical of its lasting power. In my opinion it was almost as ludicrous as paying any amount of money for an invisibly sculpture or for a banana taped to a canvas… but when you have money all bets are off I guess. Despite my skepticism there has been good money that has changed hands and I would be remiss to not secure a piece of that exchange. So I invested in YVR. I did a swing trade on YVR, made a couple hundred dollars and bailed out. That is the extent of my NFT experience.
But now signals are pointing to what many predicted. According to CointeleGraph, data shows that a majority of the lower-priced NFTs and lesser-known projects in the market do not accrue value and this means that the sector is rather illiquid. Using data from OpenSea, a recent report from Bloomberg found that 73.1% of NFT assets had only one transaction in the past 90 days.
While this may only be just a snapshot of the overall NFT market, the data itself raises eyebrows given that investors looking to buy NFTs on average pay well over $100 to mint a new NFT and cover the fees needed to transfer the asset.
In comments to Bloomberg, Gauthier Zuppinger, the COO of Nonfungible, said that “maybe 90% of collections minted today are totally useless and meaningless.”
Regarding 'successful' NFT investing, Zuppinger:
“Ninety-nine percent is about being in the right circle, having the right information at the right time. In the NFT space, you live with this constant frustration that you have missed a chance to make $1 billion.”
The number of sales being made on marketplaces has cooled off from its August highs as well. The number of daily sales across all NFT marketplaces has declined from a high of 138,109 on Aug. 30 to 4
Ethereum Killer Solano; Next SOL Token on the Way!
It’s that time of the season again. The witching hour is among us. Open contracts come to a close and either money is made or lost but the reset button has been pressed. All eyes will be on the mother of all squeezes in AMC and other so-called meme stocks like GME and other retail investor favorites. In crypto news, the market as a whole is in a bit of a slump over the past few days. One coin that remains resilient through the choppiness is again Solana, but this coin is looking to be SOL 2.0. Are you ready?
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Welcome to another episode of Money Talk Sundayz. I’m your Investment bro, Stevie Bee. You know the drill, hit that like share and subscribe and let’s jump right into it.
Crypto is ablaze and last week’s coin of the week is still holding ground. As other major coins tear Solana is ripping at a fraction. The Ethereum challenger has been seeing more interest from institutional players according to Sam Bankman-Fried, CEO of FTX exchange.
Solana is an enterprise-grade blockchain, which was created by Anatoly Yakovenko. It is backed by Alameda Research and FTX Exchange, which all fall under the watchful eye of crypto billionaire Sam Bankman-Fried. According to Bankman-Fried, Solana’s compelling long-term roadmap as a blockchain means that it will be able to support industrial uses of crypto. According to Bankman-Fried, NFTs, decentralized finance, and the launch of the Pyth Network market-data feed has contributed, at least in part, to Solana’s popularity. Bankman-Fried is busy with the development of the Serum derivatives exchange on top of Solana’s network.
Solana’s SOL token has seen its value soar in recent weeks, surpassing Dogecoin, as of September 7, 2021. It now sits sixth, at the time of this writing, at $182.56, surpassing XRP, which has not performed well this week, due in part to legal troubles.
As good as Solana is doing, this coin seems poised to usurp the Ethereum killer. Pse
MMAT Price Jumps on Short Squeeze
Meta Materials (MMAT) is making moves bros nation. I was THIS close to missing the squeeze but thanks to one viewer by the name of Kathy I’m already on the train. The stock is up nearly 21% and rising. Back in May this stock was trading around the $3-4 range to surging up to a high of more than $21 in June. It has since pulled back but its rearing for another go. So what is MMAT? Is now a good time to jump in? Buy the rumor and sell the news! Let’s get to it.
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Welcome to Money Talkz. I’m your investment bro Stevie Bee and thanks for tuning in to another episode. Today we’re going to talk about Meta Materials. Make sure you hit that like button. Share with anyone you know that’s looking into MMAT. Subscribe to the podcast or the youtube channel so you can always be up on the latest. Again thank you to all the viewers, all the listeners. Your engagement and interaction is doing so much more than you realize so THANK YOU!
Meta Materials, ticket symbol MMAT, engages in the manufacture and development of functional materials servicing various sectors and industries. Its technology platform enables the global brands to deliver products to customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. With such a diverse output its no wonder the benefits of meta is finally coming to light.
Meta was founded by George Palikaras and Themos Kallos on the 15th of August 2011. It is based in Nova Scotia, Canada. The company delivers previously unachievable performance across a range of applications by inventing designing, developing, and manufacturing sustainable, highly functional materials. This producer of high-performance nanocomposites and functional materials has seen a boon as a result of a variety of factors.
Factor 1: MMAT has formed a scientific advisory board. This group of award-winning scientists will be a catalyst the company hopes will drive f
#BTX (Brooklyn ImmunoTherapeutics Inc) on Verge of GameStop #GME Rally
Brooklyn ImmunoTherapeutics Inc (BTX) is a clinical stage biopharmaceutical company. BTX stock is higher by 28.44% over the past week up 4.69% while the S&P 500 is down -0.09% as of 10:09 AM on Thursday, Aug 26. BTX had its gamestopping moment in April, rising nearly 20x. Within a month after the company arrived in the stock market, the stock went up 1800%, and this fetal stage company suddenly had a market cap of nearly $2bn… but can it make a Gamestop type comeback? Let’s find out.
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Welcome to Money Talkz, my midweek broadcast for Money Talk Sundayz. It’s your investment bro Stevie Bee. You know the rules… shoot me a like, share, and subscribe if you haven’t done so already. I want to give you guys a special shout out for making the podcast numbers double this week. I was looking at the metrics and was pleasantly surprised so thank you very much. Let’s keep that same energy going. As always if you have a request, please drop it in the comments or send me a message and I will definitely get to it asap. Finally hit that support link in the description box and we can keep it moving.
If you haven’t figured it out already I have a thing for biotech/biopharma stocks. I[ve said it previously. I work in IT supporting the healthcare field so I have almost an insider view to certain takeaways when it comes to these stocks. Today, I want to talk BTX, or Brooklyn ImmunoTherapeutics Inc. Earlier this year I jumped in on this stock and made $300 in the first 30 minutes and bounced. It pulled back and then went for a bigger run (which I jumped in on as well) before collapsing under the weight of the short squeeze. Since then, I’ve been monitoring and occasionally buying up more shares in anticipation of another rally. But the question is:
Is there another rally in store in the near future for BTX?
Let’s look at how BTX got started.
That first short squeeze started off with a Bloomberg article on April
Atossa (ATOS) Therapeutics: Good Time to Buy
What’s going on Bros Nation. I’m back again with another episode of Money Talkz. Today’s episode is by viewer request. We’re going to talk Atossa Therapeutics. Before we get into it you know the drill, show some love with that like share and subscribe. Click the link in the description box to support the channel. Let’s grow this channel and this community of marathoners and let’s get to it.
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Atossa Therapeutics, ticket symbol ATOS. I have shares of this stock. I started investing in this stock back on the first of June when it was 3.64. It is currently at 3.225 so I’m down just a tad…. But what is the outlook for this stock? What’s going on in the world with this stock? Who is Atossa Therapeutics?
Let’s tackle the who first. ATOS is a clin
ical-stage biotech company whose surge in 2021 soon proved to be unsustainable. It underwent a meteoric rise from $1.52 in April to a 52-week high of $9.80 in June. But now it’s back down to the $3.20 area.
According to Yahoo! Finance “Atossa Therapeutic … discovers and develops medicines in the areas of oncology and infectious diseases. The company’s lead program is Endoxifen, an active metabolite of tamoxifen, which is in Phase II clinical trials to treat and prevent breast cancer. It is also developing AT-301, a proprietary drug candidate for nasal administration in patients diagnosed with COVID-19; AT-H201, a drug candidate to improve lung function in COVID-19 patients; and immunotherapy/chimeric antigen receptor therapy programs for the treatment of breast cancer.”
This all sounds good and all but what is going on with the company? Good intentions aside is this a stock worth investing in?
Well, let’s take a look at a few factors.
ATOS is down 20% in a month. The company announced its Q2 2021 financial results and offered corporate updates on recent development.
In Q2, the company received final findings from the open-label Phase II clini
#Vaxart Vaccine Pill & Latest Earnings Report Status
What’s up Bros Nation. It’s your big bro Stevie Bee back with another episode of Money Talkz. I did not do a podcast yesterday for Money Talk Sundayz w/ the Investment Bros BUT I have some news for you today. It’s about none other than Vaxart (VXRT). Before we jump in, you know the drill and show some love. Hit that like button and don’t forget to subscribe. Support the channel by clicking the link in the description box. Finally, share the wealth with your peeps with that share button. Now let’s get to it.
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It’s Money Talkz! Drop the beat!
Welcome back again. Let’s talk VXRT. People have been reaching out after my last two videos on this stock and I definitely appreciate it. The exchange of information is a gold mine in and of itself. Keep it up! One user even put me onto game about some company movements that pushed me to go and look that up and indeed there are moves being made that we as shareholders should be aware of.
First off, earnings.
Vaxart raised $36.2 million in net proceeds from its $250 million at-the-market facility in the three months ended June 30, 2021. Vaxart last posted its quarterly earnings data on August 5th, 2021. The biotechnology company reported ($0.13) Earnings Per Share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Vaxart has generated ($0.36) earnings per share over the last year (($0.47) diluted earnings per share). Earnings for Vaxart are expected to grow in the coming year, from ($0.68) to ($0.65) per share. Vaxart has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Thursday, November 11th, 2021 based off prior year's report dates.
Vaxart ended the quarter with cash, cash equivalents, and available-for-sale debt securities of $198.9 million, compared to $177.3 million as of March 31, 2021. The increase was primarily due to net receipts of $36.2 million from the Company's $250 mill