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Β© 2023 TikTok

moby.co

Moby

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This is our favorite stock to buy right now πŸ‘‡

πŸš€ Get daily investing insights delivered straight to your phone with our free newsletter. Hit the link in our bio to sign up today and we’ll send you our top stock pick for 2023. β€”β€”β€” #investing #stocks #stockmarket #finance #money #wealth
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BREAKING NEWS
Bitcoin has surged over 7% thanks to the U.S. Court of Appeals in the D.C. Circuit siding with Grayscale over their lawsuit against the SEC. But there's a lot to unpack here.
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πŸ‘‹ Hey, hit the link in our bio to get our top stock pick for free.
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WHAT HAPPENED
The SEC blocked Grayscale from converting their Bitcoin Trust into an ETF a while back and Grayscale decided the best thing to do would be to take them to court. After an extended legal battle, this key appeals court has sided with Grayscale, saying "The Commission failed to adequately explain why it approved the listing of two bitcoin futures ETPs but not Grayscale’s proposed bitcoin ETP... In the absence of a coherent explanation, this, unlike regulatory treatment of like products is unlawful.”
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Legalese aside, this basically means that the SEC didn't give a good enough reason why there shouldn't be Bitcoin ETFs in the first place.
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CURRENT STATUS
The SEC can easily just appeal this decision, but the court system will simply refer back to this decision and eventually force the SEC to make more coherent guidelines on what is and is not a legal ETF that includes Bitcoin. So even if this doesn't lead to the SEC approving Bitcoin ETFs, it sets a pathway to one that follows more coherent rules.
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WHY IT MATTERS
The market has been waiting for a Bitcoin ETF as a diversified fund like that could potentially bring more institutional money into the crypto space. However, with bond yields still really high, big money may sit out all the risk that the crypto space has for now. We'd stay away from BTC in the short term while this trend materializes. The mania that hit after XRP was ruled to not be a security didn't last long. Regardless, Bitcoin is up over 7% today.
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#bitcoin #crypto #btc
BREAKING NEWS
Big pharma is flat today after the Biden administration released the first ten drugs that Medicare can collectively negotiate prices for. This is a huge deal.
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πŸ‘‹ Hey, hit the link in our bio to get our top stock pick for free.
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WHAT HAPPENED
The drugs Medicare will effectively reduce prices for are largely ones being overused by older Americans. They range from a diabetes medication made by Eli Lilly and Boehringer Ingelheim to a heart medication made by Novo Nortis.
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CURRENT STATUS
There isn't a single big pharma player that won't be affected by these new price negotiations. While companies like Merck and Pfizer are challenging the legal grounds for Medicare to negotiate drug prices, this program will likely stand and expand.
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WHY IT MATTERS
This is a huge pillar of Biden's Inflation Reduction Act and will largely reduce revenues for big pharma moving forward. The fact that the market isn't overreacting to this signals that there's enough investor confidence about the diversity of drug portfolios that this won't hammer returns too much. If everyone gets hit in the same way, then there's nowhere for capital to flow to. At the outset, this feels like a solid win.
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#investing #pharma #stocks #finance #stockmarket #money #wealth
BREAKING NEWS
Best Buy stock is rising mildly after beating their earnings expectations, but their outlook isn't so rosy.
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πŸ‘‹ Hey, hit the link in our bio to get our
top stock pick for free.
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WHAT HAPPENED
Best Buy smashed estimates, hitting $9.58 billion in revenue for Q2 and beat their EPS estimates by nearly 20%. Costs are getting under control, but the stock isn't rising too fast because Best Buy also reduced their sales guidance for the year.
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CURRENT STATUS
After the spending sprees in 2020 and 2021, demand for things like kitchen appliances and computer monitors has cratered. Best Buy management is describing the back half of 2023 as the 'low point' for tech demand. They see trends improving after this year, but their guidance has been lowered for the year.
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WHY IT MATTERS
This is honestly a great result given where retail writ-large has been. Best Buy has turned historically low retail interest into a solid beat thanks to great logistics. We're still unpacking how this will play out for the rest of the industry, but for now, we have a lot of confidence that Best Buy will be able to find strength in this environment. Best Buy stock rose just over 1% in trading this morning.
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#investing #stocks #stockmarket #finance #money #wealth #bestbuy
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