This Psychedelic Biotech Play Could See a Leg Up After Encouraging LSD Trials
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Surge of FOMO Takes Hold as AI Trade Comes Back to Life
Poor positioning and FOMO are driving this more than lower oil and rates.
This Legacy Tech Name Is Suddenly of the Cheapest AI Plays Around
Earnings growth better than 50%, a forward multiple around 12 and an analyst target roughly a third higher.
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Investors Turn Bullish on This Biotech Stock Heading Into Catalyst
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Rising rates and capex fears hit at the same time, but the rotation is limiting the damage.
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The news is hitting and there is some knee-jerk selling.
Things I Did Today
Here are today’s things:
* Covered my index shorts very early (4:30 AM) premarket: $SPY at $746.05, $QQQ at $703.66 and $IWM at $295.66
* Shorted $GRNY at $37.58
* Added to cannabis: $TRLV at $8.67 and $MSOX at $2.51
* Shorted more $JOET at $45.29
* Sold some $PG long at $150.31
Position: Long TRLV (S), MSOX (VS), PG (VS); Short JOET (S), GRNY (L)
Early Morning Trading (4:30 AM)
With S&P futures -23 handles and Nasdaq futures -225 handIes I covered my index shorts for a profit:
* $SPY $746.05
* $QQQ $703.66
* $IWM $295.66
From yesterday:
(An Updated) Things I Did Today
Here are today’s things:
* Shorted SPY at $748.67, QQQ at $709.06 and IWM at $295.97(all very small)
* In cannabis land, I added to these longs: GTBIF at $7.10, TRLV at $8.79 and VRNO at $5.69
* Added to PEP long at $134.57
* Shorted GRNY at $27.52 and JOET at $45.28
Position: Long PEP (S), GTBIF (S), TRLV (S), VRNO (S); Short SPY (VS), QQQ (VS), IWM (VS) GRNY (M), JOET (S)
BY Doug Kass · Jul 21, 2026, 2:30 PM EDT
Position: None
(An Updated) Things I Did Today
Here are today’s things:
* Shorted $SPY at $748.67, $QQQ at $709.06 and $IWM at $295.97(all very small)
* In cannabis land, I added to these longs: $GTBIF at $7.10, $TRLV at $8.79 and $VRNO at $5.69
* Added to $PEP long at $134.57
* Shorted $GRNY at $27.52 and $JOET at $45.28
Position: Long PEP (S), GTBIF (S), TRLV (S), VRNO (S); Short SPY (VS), QQQ (VS), IWM (VS) GRNY (M), JOET (S)