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- Biopharma Stock More Than Doubles Today
Biopharma Stock More Than Doubles Today
Adam Garcia
December 23, 2024
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Luxury Assets
Bank of America, UBS, and JP Morgan are pouring billions into an asset class you’d least expect: fine art.
This $2.1 trillion market has become a powerhouse for diversification, with blue-chip contemporary art outperforming the S&P 500 by 64% since 1995.
Once reserved for the ultra-wealthy, this lucrative market is now opening its doors to everyday investors looking for unique growth opportunities.
As Wall Street bets big, the question is—will you join them?
* The content is not intended to provide legal, tax, or investment advice.
No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.
“Net Annualized Return” refers to the annualized internal rate of return net of all fees and expenses, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. For additional information regarding the calculation of IRR for a particular investment in an artwork that has been sold, a reconciliation will be filed as an exhibit to Form 1-U and will be available on the SEC’s website. Masterworks has realized illustrative annualized net returns of 17.6% (1067 days held), 17.8% (672 days held), and 21.5% (638 days held) on 13 works held longer than one year (not inclusive of works held less than one year and unsold works).
Correlation data based on repeat-sales index of historical Post-War & Contemporary Art market prices and S&P 500 annualized return (includes dividends reinvested) from 1995 to 2024, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index.
See important Reg A disclosures at masterworks.com/cd.
Markets 📈
U.S. indexes had a pretty good day, with the Dow Jones scraping together a win near the closing bell. The Nasdaq Composite grew the most, adding just shy of 200 points to its total.
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Market-Moving News 📈
Software
MicroStrategy Buys $561 Million in Bitcoin as Nasdaq 100 Entry Approaches
MicroStrategy has made another significant Bitcoin purchase, adding $561 million worth to its holdings at the coin’s near-record highs. This purchase comes as the company prepares to join the Nasdaq 100 Index, marking a milestone in its ongoing strategy to leverage Bitcoin as its primary asset. Over the past week, MicroStrategy acquired over 5,200 Bitcoin, bringing its total stock to more than 150,000.
This marks the seventh consecutive week of Bitcoin acquisitions for the company, which is pushing forward with plans to raise $42 billion over the next three years through stock and debt offerings, aimed at funding additional Bitcoin purchases. Despite some initial skepticism about the company’s ambitious goals, analysts are now noting that MicroStrategy is on track to meet its targets well ahead of schedule.
However, the company’s stock has been volatile, reflecting the fluctuations in Bitcoin’s price. Recent price dips in Bitcoin, triggered by shifts in the Federal Reserve’s rate outlook, have had a direct impact on MicroStrategy’s stock performance, underscoring the risks tied to its Bitcoin-heavy strategy. While the company’s success is closely tied to the cryptocurrency's price, its ability to continue raising capital suggests confidence in its long-term approach.
Retail
Nordstrom to Transition to Private Ownership in Family-Led Deal
Nordstrom, a well-established department store with over a century of history, is set to transition into private ownership. This move is driven by a collaboration between members of the Nordstrom family and a prominent Mexican retail group. Shareholders will receive a significant cash payout as part of the agreement, reflecting a notable premium compared to earlier stock values.
The proposed transaction has been fully endorsed by the company's board of directors, ensuring a smooth progression toward finalization. Upon completion, the Nordstrom family will hold a majority ownership stake, reinforcing their deep-rooted connection to the business. The fourth-generation leaders of the company, Erik and Pete Nordstrom, played pivotal roles in shaping this transition, though they abstained from board voting to maintain impartiality.
Nordstrom has experienced considerable activity in 2024, with an expansion of its retail footprint through the addition of new locations. Despite shifts in ownership, the company remains focused on delivering strong financial results, as evidenced by its recent performance. This milestone marks a significant chapter for the iconic retailer, blending legacy with strategic growth initiatives.
Retail
Party City’s Collapse Linked to Disputed Inventory Valuation
Party City’s downfall has been years in the making, but recent developments sealed its fate. The retailer faced a major setback when the value of its inventory was unexpectedly reassessed downward, triggering financial pressure that proved insurmountable. This valuation led lenders to demand the company set aside a substantial reserve, significantly depleting its cash reserves and leaving it with limited financial flexibility.
To address these challenges, Party City brought in experts to reassess its inventory value, but the damage was already done. The initial appraisal caused lenders to impose stricter financial requirements, forcing the company into a precarious position. Despite efforts to secure new investment and funding, potential investors and stakeholders were unwilling to commit.
Struggling to manage its obligations, Party City cut back on operations, halting inventory orders and deferring payments to landlords and suppliers. These steps weren’t enough to keep the business afloat. By mid-December, the company’s cash reserves fell below critical levels, ultimately leading to preparations for its latest Chapter 11 filing.
The once-popular party supply retailer’s story underscores the challenges of navigating financial pressures and the critical role of inventory management in retail operations.
2025 Stock Watch
With Trump back in the spotlight, certain industries are primed for significant growth.
From domestic oil companies set to benefit from his "drill, baby, drill" mantra to energy firms powering AI and cryptocurrencies rallying on renewed optimism, the stage is set for strategic investment opportunities.
This free report highlights five stocks uniquely positioned to capitalize on these trends and drive exceptional growth into 2025.
Top Winners and Losers 🔥
Traws Pharma Inc [TRAW] $12.57 (+150.40%)
Traws Pharma skyrocketed after sharing positive progress on its trial for a bird flu treatment.
Rumble Inc [RUM] $13.03 (+81.22%)
Rumble saw huge gains today, thanks to a $775 million investment from crypto company Tether.
Anavex Life Sciences Corp [AVXL] $11.18 (+29.55%)
Anavex Life Sciences boasted several highlights in its Q4 earnings report and an update on future business dealings, all leading to a jump in share price.
TeraWulf Inc [WULF] $5.81 (-12.10%)
TeraWulf made plans to deliver more than 70 Megawatts of data center infrastructure to U.S. operations, yet shares fell.
Energy Services of America Corp [ESOA] $14.10 (-11.87%)
Energy Services of America is down significantly today, just one week after reporting positive results for its fourth-quarter financials.
SoundHound AI Inc [SOUN] $20.43 (-6.09%)
SoundHound stock trended downward today even after analysts upped price targets for the company.
Technology
Most hearing aids have one processor. These bad boys have two. They process speech and noise separately.
What does this mean? It means speech gets clearer and crisper – more than ever before. Conversations and listening become effortless.
Oh, and they’re so tiny, they’re practically invisible. No wonder over 425,000 customers love them.
*This is a paid advertisement for Hear.com.
That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!
Thanks for reading. I'll see you at the next open!
Best Regards,
— Adam G.
Elite Trade Club
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