With September Cool Comes Three Big Concerns
I’m looking forward to a break from the heat, but not to these economic worries that could add to already poor seasonality.
Tweet of the Day
Position: None
Back Short CoreWeave
I am back short CoreWeave ($CRWV) at $85.58.
Position: Short CRWV (VS)
New Disney Price Target After Morgan Stanley Update
The entertainment giant has a clear path to a share price increase, according to Morgan Stanley.
What’s Our Potential Pick-Up Point for Boeing?
Here are our thoughts on BA shares as Trump bumps up Canadian tariff prospects, raising uncertainty and potential inflation.
More on OpenAI and Shorting Nvidia
Per my “More Tales from Nvidia“ this morning, this excerpt is interesting too.
Again, I wonder how these things can go public and how auditors and bankers can sign off on this.
And look at what this implies about OpenAI’s valuation as it moves toward an IPO:
OpenAI’s equity — valued north of $850 billion — is functionally the junior tranche of a capital structure whose senior claims, the take-or-pay compute obligations, exceed any revenue path management itself has articulated.
On those numbers, the equity is effectively underwater, and the market has not priced it that way because it still treats those obligations as service agreements rather than what they are economically: debt.
The Teaser Period: Why The AI Boom Is Hitting A Reset Wall
I shorted Nvidia ($NVDA) on the early morning strength.
Position: Short NVDA (VS)
Adding to My Fave ETF Shorts
I have been steadily adding to my fave ETF shorts, $JOET and $GRNY.
Position: Short JOET (VS), GRNY (M)
I Just Added This Stock to My Shopping List Amid Sluggish Market Action
With poor seasonality and bond worries weighing on stocks, the job is to protect capital and build a shopping list.