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- $BSEM | July 11th, 2024
$BSEM | July 11th, 2024
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Today's insights are provided by BioStem, this rising Medtech stock just got validated in a breakthrough study!
| Market | Day | Month | Year |
|---|---|---|---|
| Dow | ▲1.09% | ▲1.31% | ▲15.37% |
| S&P | ▲1.02% | ▲4.41% | ▲26.30% |
| Nasdaq | ▲1.18% | ▲7.88% | ▲34.42% |
| Bitcoin | ▲2.38% | ▼16.48% | ▲89.53% |
| 10-Year | ▲0.13% | ▲1.38% | ▼1.26% |
GOOD MORNING
Here's everything you need to know today: While the S&P 500 was surging to a close over 56,000 points for the first time on Wednesday, Moby had our eyes on other areas of these persistently locomotive markets.
Microsoft and Apple both decided to not have non-voting seats on OpenAI’s board, sending signals that they were more than happy with how Sam Altman is operating his second go at running his AI startup to end all startups. But they are also playing a not-so-subtle game of regulatory peekaboo with FTC Chair Lina Khan, and her opposite numbers in the UK and EU, who see the relationship between the three as an antitrust unholy trinity of Big Tech.
Elsewhere, a New Jersey politician raised our eyebrows for his financial behavior. No, it wasn’t Robert Menendez this time, it was Rep. Josh Gottheimer, who took some healthy positions on Apple and Broadcom stock, despite or because his House committee assignments have some direct impact on how those companies operate.
And Bitcoin ETFs are seeing a tsunami of net inflows as election season is turning the old and ephemeral narrative of Bitcoin being a hedge against inflation, and making it somehow more realistic.
Let’s dive into more detail below.
ARTIFICIAL INTELLIGENCE
Microsoft and Apple Step Back From OpenAI Board For… Reasons
Microsoft and Apple Step Back From OpenAI Board In Show of Confidence, and Also Maybe Because Antitrust Regulators Are Knocking On Their Doors
BREAKING NEWS
Things are going so well at OpenAI during the second reign of Sam Altman that Apple and Microsoft have just bailed on the OpenAI board. Well, that, and maybe also because the two most powerful tech companies in the world having a direct impact on what might become the most powerful company in the world has regulators thinking maybe that’s, like, a glaring antitrust violation.
WHAT HAPPENED
On Wednesday, Microsoft confirmed that it has relinquished its non-voting seat on OpenAI’s board of directors after just eight months. Apple, which reportedly had plans to join the board, has apparently decided to… not. Both companies have apparently signaled that they’re confident in OpenAI’s board as currently constituted, which is nice because they have some considerable skin in the game.
Microsoft dropped a cool billion on OpenAI back in 2019 and about $10 billion it total since then, investing in promises of AI-powered cloud goodness for its Azure AI platforms. Since then, CEO Satya Nadella has played a very Shakespearean role in OpenAI’s drama, offering to scoop up Altman and some of his loyalists during his short-lived ouster last year, forcing the non-profit(?) firm to let Altman back in and hand him the keys.
In a letter to the OpenAI board, Microsoft wrote “Over the past eight months we have witnessed significant progress from the newly formed board and are confident in the company's direction."
Apple announced just last month that OpenAI software would power the new operating systems of its next line of products, a push into the AI arms race that has become a huge focus and major investment from those hip nerds in Cupertino. The fact that Apple, notoriously tight-lipped, in control, and always a step ahead, is happy letting Altman and his board do what they want while also being a key cog in the future of Apple’s most important new initiative is… interesting.
 | Is The Medtech Sector Overlooked? |
In the world of medical technology, it’s never been harder to navigate the next wave of big players.
So, what’s the biggest hurdle? The Regulatory Process.
A company called BioStem Technologies Inc. (OTC: BSEM) may have figured it out. BSEM’s mission is to discover, develop, and produce the most effective regenerative medicine products in the world.
BioStem Technologies Inc. just released its Q1 earnings which shocked the market. Here is why the stock is up almost 60% this year:
Revenue topped $41 Million in the first quarter, nearly a 71-fold increase over the year-ago period
They also posted the first positive net income reading in a quarter by earning just over $4.4 million
The company announced that the US Patent Office has prioritized the examination of the patent for BioREtain processing technology
A research tool named ZACKSTrade just increased its price target for the third time in the last few months to $23.25.
Take a look at what $BSEM has been doing in the Medtech space!
POLITICAL TRADING
Congressman Josh Gottheimer of New Jersey Timely Tech Investments Raise Red Flags
D-NJ 5TH DISTRICT
Gottheimer’s committee roles intersect with many of his stock picks, raising questions about insider knowledge and ethical boundaries
BREAKING NEWS
Congressman Josh Gottheimer is barely in the top 30 wealthiest members of Congress, but the man has aspirations.
Recently disclosed stock purchases dated July 9, 2024, include investments in Apple and Broadcom. Both buys are valued at between $1,001 and $15,000.
Interestingly, Gottheimer is not the first politician of note to have recently invested in Broadcom. Senator Nancy Pelosi purchased between $1,000,001 and $5,000,000 worth of Broadcom shares on June 24.
WHAT HAPPENED
Broadcom and Apple were just two of the ten stocks Congressman Josh Gottheimer was interested in. But when it comes to market sectors of interest, the honorable gentleman from New Jersey is all about tech.
Gottheimer’s other buys included Microsoft, Nvidia, and Advanced Energy Industries. AEIS provides power systems and thermal measurement instruments for semiconductor manufacturing, flat panel displays, and data storage products. A real blue-chipper.
Perhaps what is most striking is just how much Gottheimer, a member of the House Committee on Financial Services among others, traded throughout June and July. While the people of The Garden State's 5th district went about their lives, Gottheimer sold over 100 stocks, including Salesforce, Deere, and Meta.
One can imagine Gottheimer hunched over his desk, blasting Bruce Springsteen and refreshing his Robinhood page with his phone beside the receiver, dreading whether his panic selling was too early or too late.
CRYPTOCURRENCY
Bitcoin ETFs See Almost $300 Million Inflow in One Day
Political and economic factors could be driving Bitcoin ETF inflows, reflecting voter interest in Bitcoin as an inflation hedge
BREAKING NEWS
Bitcoin ETF investment funds appear to be buying the recent dip in Bitcoin and crypto markets, resulting in nearly $300 million in net inflows on July 8th.
This marks the highest inflows since early June, with BlackRock’s BTC ETF alone attracting almost $190 million.
On July 9th, six ETFs added 4,601 BTC, equating to an impressive $263.36 million.
WHAT HAPPENED
The iShares Bitcoin Trust (BlackRock) led the inflows, with a one-day addition of 3,324 BTC and a seven-day net inflow of 3,492 BTC, bringing its total holdings to 310,470 BTC.
Fidelity Wise Origin Bitcoin Fund followed, adding 1,093 BTC in one day and 3,367 BTC over the week, totaling 171,857 BTC.
Other significant contributors included the ARK 21Shares Bitcoin ETF with a one-day net inflow of 196 BTC and a seven-day net inflow of 621 BTC, Bitwise Bitcoin ETF with 534 BTC added in one day and 1,079 BTC over the week, and the Invesco Galaxy Bitcoin ETF with 151 BTC said in one day and 85 BTC over the week. The Vaneck Bitcoin Trust added 226 BTC in one day and 368 BTC over the week, bringing its total holdings to 10,295 BTC.
Grayscale Bitcoin Trust was the only one that appeared to be bearish on the crypto king, with a 1D Net Inflow of -540 BTC and -1,562 BTC on the 7D.
This influx contrasts with recent price weakness prompted by selling pressure from Mt. Gox and the German government, suggesting buyers see this moment as an opportunity rather than a time to panic.
YESTERDAY | Here’s what you missed |
1. Chipotle's Executive Transition and S&P Record Close
Chipotle Mexican Grill (CMG) undergoes an executive transition as the S&P 500 reaches a record close. The change in leadership aims to sustain the company's growth and align with market performance.
2. Albertsons and Kroger Announce Store Divestitures in Merger
Albertsons and Kroger release a list of stores to be sold to C&S Wholesale as part of their proposed merger, impacting their market presence and competition.
3. Tesla's EV Market Share Drops Below 50% in the US
Tesla's share of the US electric vehicle market falls below 50% for the first time, signaling increased competition and shifting consumer preferences in the EV sector.
4. Samsung Union Workers Launch Indefinite Strike
Samsung Electronics faces a significant challenge as its largest union initiates an indefinite strike, disrupting chip production and impacting the company's operations.
5. TSMC Q2 Revenue Surpasses Market Forecasts
Taiwan Semiconductor Manufacturing Company (TSMC) reports a 40% increase in second-quarter revenue, driven by strong demand for AI infrastructure, significantly exceeding market expectations.
6. Big Bank Earnings Kickoff This Week
Major banks such as JPMorgan Chase, Wells Fargo, and Citigroup are set to release their second-quarter earnings, with investors closely watching for insights into the financial sector's health.
7. Bill Ackman Launches New US Fund
Billionaire investor Bill Ackman starts fundraising for a new US-listed fund aiming to raise up to $20 billion, to be traded on the New York Stock Exchange, marking a significant financial move.
8. Nvidia's Record Stock Performance
Nvidia's stock continues to climb, driven by strong demand for AI chips, with expectations of sustained growth, making it a key player in the tech industry's current boom.
9. Microsoft and Apple Exit OpenAI Board Amid Scrutiny
Microsoft and Apple step down from their observer roles on OpenAI's board due to regulatory scrutiny, reflecting the increasing oversight on AI-related corporate governance.
10. Volkswagen Considers Brussels Plant Closure
Volkswagen's shares drop after announcing potential closure of its Brussels plant due to weak demand for the Audi Q8 e-tron, highlighting the challenges in the electric vehicle market.
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Today's insights are provided by BioStem, this rising Medtech stock just got validated in a breakthrough study!
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