Dear New World Investor:

On April 11, a dad and his five children were in their second-story apartment in Queens while he was charging his e-bike in the vestibule. Suddenly, the battery exploded in flames. As the fire raced through the building, he and three of the kids jumped to safety. His 7-year-old son and 19-year-old daughter burned to death. They were the fourth and fifth deaths in the 59 e-bike fire incidents in New York City so far this year. Last year, six people died and hundreds were injured in over 200 e-bike fires in NYC.

As the FDNY Chief of Department said: “We were here in approximately three minutes, so we got here very quickly. And if this was not an e-bike fire, most likely we would have been able to put this fire out without incident. But the way these fires occur, it’s like an explosion of fire. The occupants have very little chance of escaping.”

Last December, the Consumer Product Safety Commission said fires from lithium-ion batteries in e-bikes have reached a crisis level. The problem is that any damage to a Li-ion battery can start a fire, and the lithium cobalt oxide cathode (LiCoO₂) releases its own oxygen, accelerating the fire and making it very hard to extinguish. That’s what happened to this Tesla.

And don’t forget the Samsung Galaxy Note 7 disaster, when the FAA banned the phone from all flights due to battery fires and the recall cost over $5 billion.

Lithium-ion rechargeable batteries use the reversible reduction of lithium ions to store energy. The anode (negative electrode) of a conventional lithium-ion cell typically is graphite made from carbon. The cathode (positive electrode) is a metal oxide. The electrolyte is a lithium salt in an organic solvent.

They are used in portable consumer electronics, electric vehicles, grid-scale energy storage, and military/aerospace applications. Handheld electronics mostly use lithium polymer batteries, which have a polymer gel as the electrolyte, a lithium cobalt oxide cathode, and a graphite anode to provide a high energy density.

Lithium iron phosphate (LiFePO₄), lithium manganese oxide (LiMn2O₄), and especially lithium nickel manganese cobalt oxide (LiNiMnCoO₂) have longer lives and are widely used in EVs. By 2026, Li-ion batteries for cell phones and other mobile devices will be about an $11 billion market, plus a $4 billion market for laptops and computing, and an $8 billion market for use in Internet of Things devices. A $23 billion total available market is a mighty attractive target for new battery technologies.

Before I go any further, I should warn you that my last battery recommendation 25 years ago went bust when the technology didn’t work. Hail Mary technology advances in batteries tend to fail. But I’ve found a company making an incremental technology advance that makes a huge difference in battery performance, chaired by an engineer I’ve known and invested in for a very long time. They have a top-notch management team, plenty of money, and can be a 10x investment.

Buy Enovix

Enovix (ENVX) uses a 100% silicon anode than can store over twice the lithium in the anode as graphite. They use a completely different flat architecture instead of the conventional wound cell.

Click for larger graphic

They used the flat architecture to create what they call a unique BrakeFlow structure to dramatically increase battery capacity while eliminating fire risk. It provides a 10x improvement in cell internal temperature gradient, can be charged from 0% to 80% in five minutes and 12 seconds, and has a 10+ year projected life. It can be used for EV batteries, which Morgan Stanley projects to be a $101 billion market in 2025 and a $523 billion market by 2040.

They already have $669 million in design wins and active designs for end products. They just signed a deal to build a second fabrication facility in Malaysia, which will allow them to produce 9.5 million to 18.9 million units per production line, depending on cell size. They can scale production by putting additional lines in Fab 2, as well as placing lines at customer sites. They expect to do joint ventures or licensing for the EV market – are you listening, Elon?

Enovix has a very experienced management team.

Click for larger graphic

There are two crucial additions to that management team. The Chairman is Dr. T.J. Rogers, who founded Cypress Semiconductor in 1982, took it public in 1986. and stepped down after 34 years in 2016. But he led a successful proxy fight in 2017 to replace two directors and the company was sold to Infineon in 2020.

I recommended Cypress in my California Technology Stock Letter and made a lot of money with TJ. In January 2017, he invested $5 million in Enphase Energy (ENPH), the renewable energy company specializing in solar micro-inverters and energy management. He’s on the Board of Bloom Energy. TJ is a moneymaker. Here he is explaining the BrakeFlow technology and Enovix’s advantage.

If you want more TJ, here’s the special shareholders presentation from January explaining why the stock is depressed with his usual refreshing bluntness. If you want to find out how a tech company really works, it’s worth every one of the 117 minutes:

There are 25.4 million shares sold short – 21.75% of the float. The company closed a $150 million 3% convertible note sale today, which included another $10 million from TJ and another $10 million from John Doerr, the Chairman of venture firm Kleiner Perkins and a fellow fan of TJ. The company will report their March quarter results next Wednesday. I’ve been hoping to buy ENVX under $12, but that looks less likely with the convert done and the Malaysia Fab 2 announced. So I want you to Buy ENVX under $13 for a $100+ target by 2027.

Click for larger graphic

Market Outlook

The three-month Treasury bill is above 5% for the first time in 16 years. The probability of a 25 basis points hike on May 3 is now around 90%. And if the Fed hikes on May 3 to 5.00%-5.25%, the probability of another 25 bps hike at the June 14 meeting to 5.25%-5.50% moved from 0% to 25% in one day.

Retail sales dropped 1.0% in March, more than the 0.4% expected, as consumers cut back on purchases of cars, trucks, and other big-ticket items. The economy slowed at the end of the first quarter because of higher interest rates.

The Atlanta Fed’s GDPNow model forecast for the March quarter is unchanged at +2.5%, still above the 1.5% estimate of the Blue Chip consensus.

Click for larger graphic

With the labor market cooling, retail sales are likely to remain weak. Ebbing demand for goods is undercutting production at factories, with other data showing manufacturing production declining last month.

I think we are headed into a shallow recession that will cause a mild earnings contraction – milder than the hedge fund bears are expecting. This chart shows that gold typically fares best of the selected assets shown after a recession starts, followed by US Treasurys and corporate debt. Equities and commodities (the Bloomberg Commodity index) come off worst in the six months after the recession begins.

Click for larger graphic

Treasuries may not deliver the same degree of protection this time, with longer-duration bonds in particular riskier than normal if the Fed keeps hiking. Equities may not face the same downside as they have in past recessions if it is as shallow as I expect.

Gold and silver have already been rallying. They are already sniffing out that this will not be a garden-variety recession, but one through which inflation potentially rises and for which Treasuries are an inadequate hedge. Commodities also should perform better than their recession average as real assets are best placed to weather inflation likely to prove more persistent than the consensus expects.

The S&P 500 lost 0.4% since last Thursday but still is up 7.6% year-to-date. Climbing a wall of worry is one thing, but scaling the towering monolith of skepticism that currently comprises Wall Street’s view of markets is dramatic. The S&P has now spent more than 25 weeks above its 200-week moving average. Since 1950, there are zero instances of the 500 making a new low once it has recovered above its 200-week moving average and spent at least 15 weeks there.

The Nasdaq Composite lost 0.9% but still is up 15.2% for the year. The small-cap Russell 2000 dropped 0.3% and is up just 0.2% in 2023.

Volatility is the toll we pay to invest. Seven times a year stocks dip 3%. Three times a year there’s a 5% mild correction About once a year there’s a 10% correction. Every 1 ½ years expect a 15% severe correction. And every 2.7 years is a bear market.

The fractal dimension still is moving towards identifying a new uptrend, although another white candle would have been very helpful. Maybe next week, as Big Tech earnings roll in.

Top 5

Changes this week: Moved GBTC from Near-Term to Long-Term

Near-Term – chronological order
EQT EQT –natural gas price rebound
OIL iPath Pure Beta Crude Oil Exchange-Traded Note – crude should rise quickly
BLPH Phase 3 results mid-2023
VLD Velo3D – Rapid revenue growth; low market cap

Long-Term – alphabetical order
EQT EQT – largest US natural gas company
NVTA Invitae – the winner-take-most of genetic testing
META Meta – a (the?) leader in the metaverse
RKLB Rocket Lab – #2 to SpaceX in space
VLD Velo3D – Return manufacturing to the US
GBTC Grayscale Bitcoin Trust – Bitcoin is headed for $100,000

Coming Events
All times below are ET, and most presentations and slides are archived on the companies’ websites so you can listen to them.

Friday, April 21
AKBA – Akebia Therapeutics – 8:00am – Stockholder Information Session to Persuade You to Vote for Reverse Stock Split
FCX – Freeport McMoRan – 10:00am – Earnings conference call

Tuesday, April 25
GLW – Corning – 8:30am – Earnings conference call
MDNA – Medicenna – 3:30pm – Bloom Burton Healthcare Investor Conference
Short Interest – After the close

Wednesday, April 26
ACRDF – Acreage Holdings – Through 4/28 – MJ Unpacked
EQT – EQT – After the close – Earnings release; call tomorrow
ENVX – Enovix – 5:00pm – Earnings conference call
META – Meta – 5:00pm – Earnings conference call

Thursday, April 27
March Quarter GDP – 8:30am – First estimate
EQT – EQT – 10:00am – Earnings conference call
GLW – Corning – 12:00pm – Annual meeting
GILD – Gilead Sciences – 4:30pm – Earnings conference call

Friday, April 28
Personal Consumption Expenditures Index – 8:30am

The $20-For-$1 Stocks

Say you put $2,000 into a stock that goes from 50¢ a share to $10. The $2,000 turns into $40,000. Then you put the $40,000 into another stock that goes from 50¢ to $10. That turns the $40,000 into $800,000. You did it with two stocks and never risked going negative more than $2,000. (Not that you won’t be mad at me if the first one works and then the second one doesn’t, taking your $40,000 to Money Heaven.)

If you can afford it – and it would not be too big a position in your portfolio – putting $2,000 into each of these speculative biotechs might be a good way to start. Buying these out-of-favor, fallen, or forgotten companies that can get important products through the FDA at very low market capitalizations seems like a good strategy to me.

Risks

Development-stage biotechs are subject to investor sentiment swings from wildly optimistic to excessively pessimistic – mostly the latter recently. After the Primary Risk for each company, I’ve added the clinical stage of their lead product, the probable time of their first FDA approval, and the probable time of their next financing.

As always, you need to think about an appropriate position size. You could buy a full position upfront and then just hold on, or buy some upfront and leave room to add more on the inevitable financings, transient clinical trial setbacks, and the like.

Compass Pathways (CMPS – $9.49) presented at the Needham Virtual Healthcare Conference (VIDEO HERE and SLIDES HERE). Although it was just a basic survey of where the company is, it was well done. Treatment-resistant depression is a very big problem:

Click for larger graphic

COMP360 (the 25-milligram blue line) worked well in the Phase 2b trial. It had a rapid onset that persisted.

Click for larger graphic

Two Phase 3 trials are underway. COMP360 also is ready to enter Phase 2 for anorexia and PTSD. The company has other drugs in preclinical development. CMPS is a Buy under $20 for a very long-term hold to a 10x.
Primary Risk: Their drugs fail in the clinic.
   Clinical stage of lead product: Phase 2
   Probable time of first FDA approval: 2025
   Probable time of next financing: Late 2023

Inovio (INO – $0.83) presented new data from the Phase 1b trial evaluating INO-4201 as an Ebola booster vaccine candidate for Ervebo at the 33rd European Congress of Clinical Microbiology and Infectious Diseases (ECCCMID). They showed new humoral and cellular response data that indicates the potential of INO-4201 to restore antibody titers to levels thought to be required to provide protection against Zaire Ebola virus infection. The new data included the assessment of binding antibodies showing that all 36 vaccine recipients responded to the boost. INO is a Buy under $7 for a very long-term hold.
Primary Risk: Their drugs fail in the clinic.
   Clinical stage of lead product: Phase 3
   Probable time of first FDA approval: 2023
   Probable time of next financing: Mid-2024

Medicenna (MDNA – $0.62) will present next Tuesday at 3:30pm ET at the Bloom Burton Healthcare Investor Conference. Buy MDNA under $3 for a first target of $20, then maybe $40.
Primary Risk: Their drugs fail in the clinic.
   Clinical stage of lead product: Entering Phase 3
   Probable time of first FDA approval: 2024
   Probable time of next financing: March 2024

Biotech MegaShift

Akebia Therapeutics (AKBA- $0.66) will host a “Stockholder Information Session” tomorrow morning at 8:00am ET to try to persuade you to vote for a reverse stock split. They invited advance questions, so I commented: “Reverse splits virtually always lower the market capitalization of the company, sometimes dramatically, and always to the shareholders detriment. Go to the pink sheets and grow the company. The stock will take care of itself.”

We shall see. AKBA is a Hold for the results of the FDA appeal on vadadustat.
Primary Risk: Vadadustat not approved.
   Clinical stage of lead product: Vadadustat NDA filed; CRL
   Probable time of next FDA approval: Unknown
   Probable time of next financing: Unknown

TG Therapeutics (TGTX – $21.39) target price was raised by Wainwright from $24 to $28. They reiterated their Buy Rating. Hold TGTX for a target price in a buyout of $25 or more now that the MS drug is approved.
Primary Risk:Briumvi, the MS drug, fails to sell.
   Clinical stage of lead product: Approved
   Probable time of next FDA approval: NM
   Probable time of next financing: Second half of 2023

Biotech & Digital Dominators MegaShift
There are at least four ways to make money in the stocks of these large, growing, dominant companies. You can:
* * Buy a stock and hold it
* * Buy a stock and write a call option against it
* * With a Level IV options account, write an out-of-the-money put option
* * With a Level IV options account, write an out-of-the-money put option and use part of the premium to buy an out-of-the-money call option

Apple (AAPL – $165.65) reports their March quarter results on May 4, and one of the most important numbers will be their stock buyback plans for this fiscal year. In each of the last two years, they committed $90 billion to buybacks, and a repeat of that budget would be a positive sign.

Apple Card introduced a 4.15% savings account, a rate that’s more than 10x the national average, with no fees, no minimum deposits, and no minimum balance requirements. Users can easily set up and manage their savings account directly from Apple Card in Wallet.

The company opened their first Indian store in Mumbai on Tuesday and the second in New Delhi today. India is a huge opportunity for Apple in both production and sales of iPhones. AAPL is a Buy under $150 for new iPhone rollouts and augmented/virtual reality products.

Corning (GLW – $33.98) reports next Tuesday morning. Analysts expect revenues to fall 10.5% from last year to $3.35 billion with earnings down 27.8% to 39¢. Both seem like low bars for Corning to beat. GLW is a Buy under $33 for the 5G cellular buildout, followed by the smartphone upgrade to use 5G services. My target is $60 in 2023 .

Gilead Sciences (GILD – $84.69) reports next Thursday after the close. The consensus expects revenues to fall 4.4% from last year to $6.3 billion with earnings down 27.4% to $1.54. Gilead should come close to that and may beat. GILD is a Long-Term Buy under $80 for a first target of $120.

Meta Platforms (META – $213.07) reports next Wednesday. Wall Street is looking for earnings to fall 25.7% from last year to $2.02 with revenues down 1.1% to $27.6 billion. I think Zuck will beat on the bottom line. He’s been very aggressive about laying off people, including another 4,000 yesterday. Another round in May will be up to 6,000 jobs.

I still think the metaverse is going to be huge, especially in education. At Japan’s N and S high schools, the largest online high schools in the country, more than 6,000 students learn in VR using Meta Quest 2 headsets. Their teachers report that this enhances the learning experience and enables students to nurture social skills even when they are physically far away.

Rowan Street Capital wrote a good SeekingAlpha article on Meta. META is a Buy under $150 for a $400 target in 2024.

Other Tech

PagerDuty (PD – $34.12) got a bullish article on SeekingAlpha, citing the company’s “solid execution” even in a tough environment. Word. PD is a Buy up to $30 for a 2- to 5-year hold as their digital operations management Software-As-A-Service gains market share.
Primary Risk: Digital operations management is a competitive area.

Rocket Lab USA (RKLB – $3.95) is taking the next major step in evolving the Electron launch vehicle into a reusable rocket by launching a pre-flown Rutherford engine. The 3D-printed engine, previously flown on a mission launched in May 2022, has undergone extensive qualification and acceptance testing to certify it for re-flight, including multiple full mission duration hot fires where the pre-flown engine performed flawlessly and on par with a new Rutherford engine.

They also introduced the HASTE rocket (Hypersonic Accelerator Suborbital Test Electron), a suborbital testbed launch vehicle derived from the Electron rocket. HASTE provides reliable, high-cadence flight test opportunities needed to advance hypersonic system technology development, with the inaugural launch scheduled to take place in the first half of 2023 for a confidential customer.

Now, who is interested in hypersonic flight development?

Naw, just the DoD. RKLB is a Buy up to $13 for my $30+ target as low earth orbit satellites and space exploration grow.
Primary Risk: A new competitor emerges.

Velo3D (VLD – $2.14) added eight more events in Asia and Europe to its 2023 “Proof is in the Printing” workshops tour. They added Augsburg, Germany; Midlands, UK; Stavanger, Norway; Toulouse, France; Tokyo, Japan; Busan, Korea; Augsburg again; and Bern, Switzerland. VLD is a Buy up to $6 for my $50 target as Velo3D’s high-tolerance metal parts printing business grows.
Primary Risk:A new 3D metal printing competitor emerges.

Inflation MegaShift

Gold ($2,016.40) dips below $2,000 and bounces right back. There was a lot of gold buying in the two years leading up to the August 2021 peak. Gold exchange-traded fund holdings peaked in 2020. Recently, prices have moved up while holdings haven’t changed measurably. We may be about to see major buying of ETFs.

Click for larger graphic

The fractal dimension moved deeper into trend territory – this could get explosive as the Commodity Trading Advisers pile on.

Miners & Related

First Majestic (AG – $7.24) produced 7.6 million silver equivalent ounces in the March quarter, consisting of 2.5 million silver ounces and 60,594 gold ounces. That was a 6% increase in total production compared to the first quarter of 2022 and a 1% increase compared to the December quarter. They cited strong production from the Mexican mines.

They began the 2023 exploration program by completing a total of 120,367 feet of drilling across all sites, a 128% increase over the December quarter. Throughout the quarter a total of 18 drill rigs were active, consisting of seven rigs at San Dimas, five rigs at Santa Elena, two rigs at La Encantada, and four rigs at Jerritt Canyon.

They’ll issue a press release on the financials on May 4. AG is a Buy under $11 for a $23 next target price as production increases and the price of silver rises.
Primary Risk: Prices of precious metals fall due to US dollar strength.

Sandstorm Gold (SAND – $5.85) CEO Nolan Watson did a thorough interview with Red Cloud TV, including why he is bullish on copper.

SAND is a Buy under $10 for a $25 target.
Primary Risk: Prices of precious metals fall due to US dollar strength.

Cryptocurrencies

Cryptocurrencies are a diversifying asset that offer a unique opportunity to make (or lose!) a lot of money quickly. You can easily buy bitcoin and other cryptocurrencies at Coinbase, Block, or Robinhood.

Bitcoin (BTC-USD on Yahoo – $28,234.94) probably will trade between $28,000 and $30,000 for a while, building the base for the next leg up.

Click for larger graphic

Brokerage firm Bernstein said FTX’s collapse was the catalyst for a new bullish cycle in cryptocurrency markets because it cleaned up the final tranche of “toxic crypto leverage” and taught digital-asset investors the importance of decentralization and self-custody wallets.

They said the macro catalysts are aligning for bitcoin with continued weakness in US regional banks and further deposit outflows toward money-market funds and the big four US banks all reflecting concerns about the “centralization of money.” “Any potential dislocation, whether on the bank’s credit side or on the sovereign side …positions bitcoin perfectly as a safe-haven asset alongside gold.”

They concluded: “The opportunity to build a new institutional financial stack on the blockchain remains a worthy goal, and serious participants remain focused on the long term,” adding that this will be the “first crypto cycle which will see participation from leading institutional investors.”

BTC-USD, ETH-USD, GBTC, and ETHE are Strong Buys.
Primary Risk: Bitcoin falls due to over-regulation or is surpassed by another cryptocurrency.

Grayscale Bitcoin Trust (GBTC- $15.82) is at a 38% discount to net asset value. Free money. GBTC is a Buy under net asset value.
Primary Risk: Bitcoin falls due to over-regulation or is surpassed by another cryptocurrency.

International & Other Recommendations
It is important to hold some non-US assets, especially in China. China’s activity data for March confirm the recovery following the reopening of the economy is strong and, as expected, driven by consumption. Retail sales volume has increased by more than 10% since December and 9% year-over-year, back to the 15-year average

Click for larger graphic h/t @PkZweifel

Overall real consumption spending rebounded by 7.5% quarter-over-quarter, driven by a spectacular jump in services, especially entertainment (>30% quarter-over-quarter) The other good news comes from the rebound in the real estate market, which points to a continuation of the rise in home prices. Production is up over 4% since December with a more moderate increase in March, but still comfortably above the pre-pandemic trend. Also, Chinese refineries processed the most crude oil on record in March, with runs surging to ~14.95 million barrels a day.

EMQQ Emerging Markets Internet & Ecommerce ETF (EMQQ – $30.24) is a Buy under $38 for a $66 target in 12 to 18 months.

KraneShares Bosera MSCI China A Share Fund (KBA – $25.84) is a Buy under $40 for a three- to five-year hold.

Morgan Stanley China A-Share Closed-End Fund (CAF – $14.04) is a Buy under $18 for a three- to five-year hold..

KraneShares CSI China Internet Exchange-Traded Fund (KWEB – $28.91) Buy under $40 for a double over the next three years.
Primary Risk of all four of these: China falls into a recession.

Commodities

Oil – $77.29

Oil slipped almost $5 from last week, even though the physical market is rapidly tightening. Last week saw a larger-than-expected crude draw of 2.675 million barrels, the third draw in four weeks, even though President Biden sold another 1.6 million barrels from the Strategic Petroleum Reserve. Gasoline stocks fell one million barrels and Distillates fell 1.9 million barrels.

The International Energy Agency said global demand will hit a record high this year on the back of a recovery in Chinese consumption. (As mentioned above, Chinese refineries processed the most crude oil on record in March.) The IEA warned that the deep output cuts announced by OPEC+ could exacerbate an oil supply deficit. Ya think?

Click for larger graphic

According to Bloomberg, the US-Saudi oil pact is breaking down as Russia grabs the upper hand. They said an empowered OPEC+ led by Saudi Arabia and Moscow is calling the shots on oil prices, boosting inflation and raising recession risks. This month’s OPEC+ decision to cut crude output, for the second time since Biden flew to Saudi Arabia last summer seeking an increase, may be just the start.

JPMorgan said oil prices are poised to rally soon as the Federal Reserve is expected to pause its rate hikes. Since 1988, the final increase in a tightening cycle has been followed by increases in the price of crude three months later by an average of 9%. Got OIL?

The July 2026 Crude Oil Futures (CLN26.NYM – $64.70) are a Buy under $65 for a $200+ target. Only buy futures for all cash; do not use margin.

The iPath Pure Beta Crude Oil Exchange-Traded Note (OIL – $29.49) is a Buy under $36 for an $80+ target.

EQT (EQT – $32.73) may be affected by the OPEC+ production cut. The higher oil prices go, the more oil wells are drilled – and 50% of US natural gas production is a byproduct of oil production – “associated gas.” But offsetting that is higher oil prices raise all energy prices, and natural gas is so much cleaner than oil and coal that it has an extra long-term demand factor.

Doomberg wrote: “The cleanest of the fossil fuels – a molecule in such high demand around the world that it traded hands at 50 times the current US benchmark price in Europe only months ago – is now available in certain parts of the US for energy-equivalent prices of less than $10 a barrel of oil. The wasteful handling of this vast bounty of energy is tragically departed from what could be done under a more practical energy policy regime.” Amen.

The company reports after the close next Wednesday, with the conference call Thursday morning. Analysts are looking for revenues to fall 20.8% from last year to $1.75 billion with earnings up 72.8% to $1.40. They could miss on the bottom line, but the Street is expecting June quarter guidance for only 12¢. EQT is a buy under $35 for a first target of $70 and a long-term hold for much higher prices.
Primary Risk:Natural gas prices fall.

Energy Fuels (UUUU – $5.15) got a good article on SeekingAlpha: Energy Fuels: Left For Dead, Unjustifiably. It had a two-part thesis:
* * Energy Fuels is predominantly a uranium story. When uranium reaches $60lbs, this stock will rapidly move higher
* * Energy Fuels has a clean balance sheet with no debt and more than $60 million of cash
UUUU is a buy under $8 for a $30 target.
Primary Risk: Uranium prices fall.

Freeport McMoRan (FCX – $41.36) is a very timely buy. On a 5-year and 10-year basis, copper exchange inventories have never been this low for early April. And don’t forget global copper consumption was 20 million metric tonnes per annum in 2012 and 25 million metric tonnes per annum in 2022, so the fact that we are at fresh 10-year lows means on a stock-flow basis we are at catastrophically low inventory levels

Click for larger graphic h/t @PauloMacro

FCX is a buy under $44 for a $65 target within two years.
Primary Risk: Copper prices fall.

* * * * *

After all the price cuts, Tesla now offers the cheapest EV sedan in the United States in the Model 3 standard after EV Tax credits and the second cheapest (by $1,000) SUV in the Model Y standard.

Click for larger graphic h/t @farzyness

* * * * *

This is the revised version 2.0 ChatGPT SuperPrompt that writes, rates, and runs your prompt. It will automatically generate a prompt for you on any subject.

https://twitter.com/BrianRoemmele/status/1647442652047212544

* * * * *

Your playing with the Hemingway app Editor,

Michael Murphy CFA
Founding Editor
New World Investor

All Recommendations

Check out the complete Portfolio page HERE.

Buys
These are the stocks everyone needs to own because transformative events are happening over the next year or two, and I expect to hold them long-term.

$20-for-$1
  Aptose Biosciences (APTO – $0.48) – Buy under $2.50, ultimate target $30
  Bellerophon Therapeutics (BLPH – $10.08) – Buy under $5, first target $30, then $100
  Compass Pathways (CMPS – $9.49) – Buy under $20, hold a long time for a 10x return
  Inovio (INO – $0.83) – Buy under $7, hold a long time
  Invitae (NVTA – $1.21) – Buy under $10, first target $50, then $100+
  Medicenna (MDNA – $0.62) – Buy under $3, first target $20, then maybe $40
  ScyNexis (SCYX – $3.14) – Buy under $2.50, target price $20, then $50

Tech Dominators
  Apple Computer (AAPL – $165.65 ) – Buy under $150 for new iPhones
  Corning (GLW – $33.98) – Buy under $33, target price $60
  Gilead Sciences (GILD – $84.69) – Buy under $80, target price $120
  Meta (META – $213.07) – Buy under $250, target price $400
  SoftBank (SFTBY – $18.85) – Buy under $25, target price $50

Other Tech
  First Trust NASDAQ Cybersecurity ETF (CIBR – $41.37) – Buy under $40; 3- to 5-year hold
  Fastly (FSLY – $16.32) – Buy under $20; 2- to 5-year hold to $80+
  PagerDuty (PD – $34.12) – Buy under $30; 2- to 5-year hold
  QuickLogic (QUIK – $5.66) – Buy under $10, target price $40
  Rocket Lab (RKLB – $3.95) – Buy under $13, target price $30+
  Velo3D (VLD – $2.14) – Buy under $6, target price $50

Inflation
  A Short-Sale or REO House – ($447,000) – Hold
  Bag of Junk Silver – ($25.37) – hold through silver bull market
  Sprott Gold Miners ETF (SGDM – $29.40) – Buy under $28, target price $50
  Sprott Junior Gold Miners ETF (SGDJ – $34.06) – Buy under $39, target price $100
  Sprott Physical Gold and Silver Trust (CEF – $19.43) – Buy under $18, target price $30
  Global X Silver Miners ETF (SIL – $30.70) – Buy under $30, target price $50
  Coeur Mining (CDE – $3.77) – Buy under $5, target price $20
  First Majestic Mining (AG – $7.24) – Buy under $11, next target price $23
  Paramount Gold Nevada (PZG – $0.35) – Buy under $1, first target price $10
  Sandstorm Gold (SAND – $5.85) – Buy under $10, target price $25
  Sprott Inc. (SII – $36.29) – Buy under $40, target price $70

Cryptocurrencies
  Bitcoin (BTC-USD – $28,234.94) – Buy
  Grayscale Bitcoin Trust (GBTC – $15.82) – Buy
  Ethereum (ETH-USD – $1,936.23) – Buy
  Grayscale Ethereum Trust (ETHE – $9.47) – Buy

International & Other Recommendations
  EMQQ Emerging Markets Internet & Ecommerce ETF (EMQQ – $30.24) – Buy under $38 for a $66 target in 12 to 18 months
  KraneShares Bosera MSCI China A Share Fund (KBA – $25.84) – Buy under $40 for a three- to five-year hold
  Morgan Stanley China A-Shares Fund (CAF – $14.04) – Buy under $18 for a three- to five-year hold
  KraneShares CSI China Internet ETF (KWEB – $28.91) – Buy under $40 for a double over the next three years
  Acreage Holdings (ACRDF – $0.69) – Buy under $2 for the Canopy Growth merger
  Mongolia Growth Group (MNGGF – $1.06) – Buy under $1.30; long-term hold

Commodities
  Crude Oil Futures – July 2026 (CLN26.NYM – $64.70) – Buy under $65; $200+ target
  iPath Pure Beta Crude Oil Exchange-Traded Note (OIL – $29.49) – Buy under $36; $80+ target
  EQT (EQT – $32.73) – Buy under $35; $70 first target
  Energy Fuels (UUUU – $5.15) – Buy under $8; $30 target
  Freeport McMoRan (FCX – $41.36) – Buy under $44; $65 target within two years

Holds
These are holds but not sells – yet. They could get moved back to one of the buy categories if their prices drop or outlook improves, or they could become sell recommendations in the future.
  Akebia Biotherapeutics (AKBA – $0.66) – Hold for FDA decision
  Arch Therapeutics (ARTH – $3.50) – Hold for buyout
  Graphite Bio (GRPH – $2.92) – Hold until they update their strategy
  TG Therapeutics (TGTX – $21.39) – Hold for buyout at $25+

Publisher: GwynRose LLC, 5348 Vegas Drive, Suite 868, Las Vegas, NV 89108

New World Investor does not act as a personal investment adviser or advocate the purchase or sale of any security or investment for any specific individual. The recommendations and analysis presented to members are for the exclusive use of members. Members should be aware that investment markets have inherent risks and there can be no guarantee of future profits. Likewise, past performance does not assure future results. Recommendations are subject to change at any time. Nothing in this presentation should be considered personalized investment advice. No communication to you by Michael Murphy or any of our employees or contractors should be deemed as personalized investment advice.

Copyright ©GwynRoseLLC 2023

New World Investor Mastermind Group

1. Post unto others as you would have them post unto you.
2. Keep it clean, like a 1950s family television show. Your alter ego can run free on Twitter.
3. NO PERSONAL ATTACKS! If you don’t like the stock, don’t trash the person. Everyone is responsible for their own due diligence and investments.
4. Don’t post here about politics or religion – you aren’t going to change anyone’s mind. Again, NO PERSONAL ATTACKS!
5. The investment implications of something going on in politics or religion is OK.
6. Of course, there’s never a reason to slur someone based on race, religion, gender, sexual orientation, or country of national origin.
7. Please, no snark!