Crypto, Media, Oxygen & Vegan
Reversal of Fortunes; temporary or not? It's nonetheless been a torrid week of vertigo-defying proportions affecting the value of the world’s cryptocurrencies, with some Crypto counters roughly tripling and more this year. Sector leader BTC momentarily reached $64863 and crashed 50% at one point due in some part to an unexpected tweet tantrum from billionaire Elon Musk, a vocal crypto evangelist who’s suddenly soured on BTC.
However, in larger part, it was due to Chinese regulators led by the Peoples Bank of China [PBOC] announcing a very public determination to regulate Cryptocurrencies.
That didn't stop Michael Saylor on May 18th from buying another 229 coins for MicroStrategy [MSTR], catching the proverbial 'falling knife' for $43663 a coin, only for BTC to continue plummeting to around $30000 on Wednesday, May 19th.
AT&T unveiled the demerging of its Warner Media interests to Discovery in a $43 billion cash/debt and stock deal that will combine HBO, CNN, Warner Bros with Discovery Inc.’s lifestyle, travel, Animal Planet, and reality TV networks.
The resulting combine will see AT&T owning 71% and Discovery 29% of the as yet to be named assemblage that will be a forceful competitor to Disney & Netflix in the fast-moving streaming industry.
The merger is still subject to regulatory approval but is expected to close next year.
Diffusion Pharmaceuticals traded around 70 cents and is a biotechnology and life sciences company based in Charlottesville, Virginia. With just ten employees and a market cap of $76 million, it is a 'speculative' minnow.
The two professors heading the company, John Gainer and David Kalergis, are pioneers in oxygen diffusion enhancing compounds including trans sodium crocetinate [TSC], which increases the rate at which oxygen moves through blood plasma through diffusion.
What makes this intriguing is that during the Covid era, Oxygen has been a frequently mentioned component to save lives, given the lack of it in many locations. While no claims are made that DFFN has any answers, the fact that they are working in this field could, given recent media hype within the healthcare sector, draw attention to the company. Having traded as high as $1.85 and as low as $0.60 in the past 12 months, it could provide an interesting investment.
Oatly will be closely watched as it debuts to test the recent unreceptive appetite for new issues in general, particularly energy/environmental, solar, and tech sectors.
The original oat drink company for the 'post milk' generation and much like 'Beyond Meat' [BYND], captured the Zeitgeist and imagination last year but now languishes near its 12-month low of $108 after October 2020 highs of $221. Oatly [OTLY] launched at $17 a share on the Nasdaq on Thursday, May 20th, with an offering of ADR [American Depositary Receipts] to raise $1.43 billion to value the Malmo headquartered, Swedish based company at around $10 billion. A successful issue closing its first day of trading at $20.63 after trading as high as $22.74.
The pioneer of 'substitute milk' in the 1990s from researchers at Lund University and now the largest seller of Oat-based milk in the world, with clients from Dunkin Donuts to Starbucks, is sure to gain a global following among Vegans and Dairy wary consumers with its lactose-free benefits.
Selling in 32,000 coffee shops, 60,000 locations across 20 countries with Walmart, Kroger's, Whole Foods, and Target among its USA retail customers, this could be a franchise to follow long term as it continues aggressive global expansion.