Dear New World Investor:

It’s been a week of Tariff Tantrums and Inflation Fears. This morning’s Consumer Price Index report for March showed less inflationary pressures. The headline index was up 2.4% year-over-year (YoY), its lowest increase in four years, a tenth under the 2.5% consensus and better than February’s 2.8%. Month-over-month (MoM) it fell 0.1%, the first MoM drop since May 2020. That was below the consensus estimate for a 0.1% increase and below February’s 0.2%.

Click for larger graphic h/t Yahoo Finance

The more important (to the Fed, anyway) core index was up 2.8% YoY, also the lowest increase in four years, well below the 3.0% consensus and February’s 3.1%. Month-over-month (MoM) it increased 0.1%, below the 0.3% consensus and under February’s 0.2%. The lagging and therefore misleading core shelter index was up 4.0% YoY, its smallest increase since November 2021. It will continue to fall.

I still don’t think that’s enough to push the Fed to lower rates at the May 7 meeting, especially with tariff uncertainty. The June 18 meeting still is my best guess, unless the June quarter GDPNow forecast picks up substantially. The Fed doesn’t know how or even if tariffs will affect the economy or inflation measures, and the labor market doesn’t seem to be falling apart.

Last Friday’s payrolls report showed 228,000 new jobs were created in March, way more than the 140,000 expected by economists. It also was larger than February’s monthly job gains, originally reported as 151,000 jobs but revised quite a bit lower to 117,000. The initial report is still substantially overstating job creation. But in past recessions, like 2008 and 2001, job growth fell to 100,000 a month. Then it dropped into negative territory as the economic downturn unfolded. That’s not what we’re seeing today.

Click for larger graphic h/t Yahoo Finance

On the other hand, the Challenger Job Cuts report showed that US companies cut 257,240 jobs in March, the biggest jump in layoffs since the pandemic.

Click for larger graphic

In the Tariff Tantrum, the VIX Fear & Greed Index went over 45 last Friday and reached 57.96 on Wednesday morning. When the VIX has closed above 45 in the past, here’s what the S&P 500 did over the next few days:

Click for larger graphic h/t @TheMarketEar and @SubuTrade

At the lows this week, retail investors were in panic mode, also known on Wall Street as an opportunity to pick some low-hanging fruit. They still are feeling extreme fear.

Click for larger graphic h/t @CNN

Investors Intelligence sentiment of investment newsletter writers collapsed to 23.6%, the lowest level since December 2008.

Click fr larger graphic h/t @SubuTrade

And the American Association of Individual Investors survey remains overwhelmingly bearish.

Click for larger graphic h/t AAII

So there’s plenty of room for bears to turn positive and buy stocks.

Market Outlook

The S&P 500 lost 2.4% since last Thursday, which was the worst day for US stocks since June 2020, down 4.8%. Friday was even worse, with the S&P 500 down 6.0%. The Index fell 11% Thursday/Friday – the fifth-biggest two-day decline since 1950. The only worse two-day declines were Black Monday in 1987, the Great Financial Crisis in 2008, and the COVID lockdown crash of 2020. Check out the market’s returns one, three, and five years after each two-day crash. Stocks went substantially higher 100% of the time.

Click for larger graphic h/t @charliebilello and @Hedge_Your_Risk

After a 9.5% rally yesterday – the third best day since 1990 – and today’s 3.5% drop, the Index is down 10.4% year-to-date. The Nasdaq Composite lost 1.0%, mostly recovering from a 5.8% drop last Friday, and is down 15.1% for the year. The SPDR S&P Biotech Exchange-Traded Fund (XBI) fell 8.4%, even after a 7.3% spike on Wednesday. It hit a 52-week low Wednesday morning and is down 20.5% year-to-date. The small-cap Russell 2000 dropped 4.1% and is down 17.9% in 2025.

Last Friday’s wipeout doubled the length of the red weekly candle, but so far this is an up week. Even so, the fractal dimension fell a little and still is indicating a real downtrend is underway. This can last anywhere from a couple of weeks to a couple of months, depending on whether we rebuild the energy by more sharp price drops or just by boring churning for a while.

Click for larger graphic

Top 5

Changes this week: None

Near-Term – chronological order
AKBA Akebia Therapeutics – Vafseo launch
SCYX ScyNexis – Announce resolution of the manufacturing problem, lifting of clinical hold, restart of MARIO trial, maybe GSK files for hospital use approval
EQT EQT –natural gas price rebound
USL United States 12 Month Oil Fund, LP – crude should rise quickly
FCX Freeport McMoRan – copper shortage

Long-Term – alphabetical order
ABCL AbCelllera – Will become a huge pharma royalty company
UUUU Energy Focus – Domestic uranium supplier
EQT EQT – largest US natural gas company
IBIT iShares Bitcoin Trust – Bitcoin is headed for $150,000
META Meta – a (the?) leader in the metaverse
PLTR Palantir – a (the?) leader in AI applications software
RKLB Rocket Lab – #2 to SpaceX in space
SCYX ScyNexis –First new antifungal in 20 years

Economy

The Atlanta Fed’s GDPNow model still forecasts a negative real GDP number for the March quarter, although slightly less negative at -2.4%. . The alternative model forecast, which adjusts for imports and exports of gold as described HERE, is at -0.3%. The Blue Chip economists finally are getting the memo.

Click for larger graphic

To show you how panicked Wall Street is, at 12:57pm on Wednesday, Goldman Sachs called a US recession. 73 minutes later they rescinded it.

Click for larger graphic h/t Zero Hedge

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

Sunday, April 12
SCYX – ScyNexis – 6:00am – European Society of Clinical Microbiology and Infectious Diseases poster presentation on SCY-247

Tuesday, April 15
Tax Day!

INO – Inovio – 1:30pam – National HPV Conference oral presentation on INO-3107 and panel on RRP

Friday, April 18
Markets Closed – Good Friday

Big Tech: The 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 – $190.42) analyst Dan Ives of Wedbush, previously offering an unrelentingly bullish view on how AI will usher in a Fourth Industrial Revolution, panicked on Friday, warned of $3,500 iPhones, and wrote: “The concept of taking the US back to the 1980’s ‘manufacturing days’ with these tariffs is a bad science experiment that in the process will cause an economic Armageddon in our view and crush the tech trade, AI Revolution theme, and overall industry in the process.”

Tell me you’ve never read The Art of the Deal without telling me you’ve never read The Art of the Deal. AAPL is a Buy under $205.

Meta Platforms (META – $545.29) Llama 3 AI model can converse in eight languages, write high-quality computer code, and solve complex math problems. The company is about to release their new large language model, Llama 4. It is expected to copy certain technical aspects from DeepSeek, with at least one version using the machine-learning technique called mixture of experts method, which trains separate parts of models for specific tasks, making them experts in those areas. It should be especially strong in reasoning, math, and conducting human-like voice conversations. META is a Buy under $655 for a long-term hold.

Nvidia (NVDA – $107.57) reportedly will not face increased restrictions on exports of their H20 AI server chips to China. These are the most advanced AI processor legally available in China under US export controls. The Information reported that Chinese companies, including ByteDance, Alibaba, and Tencent, placed at least $16 billion in orders for H20s in the first quarter. Apparently, CEO Jensen Huang attended a Mar-a-Lago dinner last week and promised the Trump administration new US investments in AI data centers.

CEO Jensen Huang talked about innovation in business and beyond.

NVDA is a Buy under $125 for a $180 first target.

Palantir (PLTR – $88.59) is used by Selkirk Sport, the leading supplier to the rapidly-growing pickleball industry, to run the whole company:

PLTR is a Buy under $100 for a $150 target.

PayPal Holdings (PYPL – $60.56) is doubling down on Checkout and Pay Later with a $10 million sweepstakes – their biggest ever – and a new Will Ferrell campaign.

PYPL is a Buy under $68 for a double in three years.

Snap (SNAP – $7.83) is leveraging AI, Machine Learning, and automation to help advertisers drive better performance. Their automated Target Cost bidding strategy allows advertisers to set a target cost-per-action (tCPA) that they would like to achieve, and Snap’s systems will consistently deliver a CPA within a reasonable range of that bid. It’s a lower-risk way to reach Snapchat’s engaged global community of over 850 million people. SNAP is a Buy under $11 for a $17+ target.

SoftBank (SFTBY – $22.15) bought back another 2,711,800 shares in March. SFTBY is a Buy under $25 for a first target of $50 in the next two years.

Small Tech

Fastly (FSLY – $5.38) announced key updates to Fastly DDoS (Distributed Denial of Service) Protection that can mitigate attacks in seconds. Verifying DDoS attacks is often difficult, and incorrect rules can further disrupt services, leaving security and platform teams reluctant to use a tool’s blocking mode. That leaves their applications and APIs exposed. Fastly DDoS Protection addresses that challenge with rapid mitigation that helps keep legitimate traffic untouched while blocking malicious requests. FSLY is a Hold for March quarter results.
Primary Risk:Content and applications delivery networks are a competitive area.

PagerDuty (PD – $15.35) was named a Leader and an Outperformer in the 2025 GigaOm Radar for IT Incident Response Platforms report for the third consecutive year. 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.

ARK Venture Fund (ARKVX – $28.90), which holds SpaceX, should benefit as Phase 3 of the Space Force’s flagship National Security Space Launch procurement program assigned 54 missions through 2029. SpaceX won 28 of the missions for $5.9 billion. ULA, the joint venture of Boeing and Lockheed Martin that once dominated military and intelligence satellite launches, won $5.3 billion for 19 missions. Jeff Bezos’ Blue Origin got seven missions worth a combined $2.3 billion, with those planned for launch in a later year.

SpaceX said it will use its proven Falcon 9 and its more powerful Falcon Heavy – three Falcon cores strapped together – for the Phase 3 missions. In the $6 billion Phase 2, SpaceX won 40% of the missions while ULA got 60%. Some missions originally assigned to ULA under Phase 2 had to be transferred to SpaceX over development delays with ULA’s Vulcan rocket. Musk wrote: “Winning 60% of the missions may sound generous, but the reality is that all SpaceX competitors combined cannot currently deliver the other 40%! I hope they succeed, but they aren’t there yet.”

SpaceX plans to launch the Starship to Mars by the end of 2026, carrying Tesla Optimus explorer robots. These robots are expected to scout the Martian terrain, gather data, and prepare for future human missions. ARKVX is a Buy for the SpaceX IPO.
Primary Risk: Cathie sells the stock before the IPO.

Redwire (RDW – $9.37) and Ispace-U.S. will jointly pursue commercial lunar exploration and science missions for the NASA Commercial Lunar Payload Services (CLPS) initiative and other customers. The NASA CLPS contract is a multi-award indefinite delivery, indefinite quantity contract with a cumulative maximum contract value of $2.6 billion through 2028. Redwire is one of 14 prime contractors on CLPS. RDW is a Buy under $18 for a $36 first target as space exploration grows.
Primary Risk: A new competitor emerges.

Rocket Lab USA (RKLB – $19.63) introduced a family of customizable, next-generation solar arrays to meet the diverse power needs of satellites operating in any orbital conditions. They also introduced an expanded suite of Frontier radios, their space-grade radio frequency communications systems that have been going into space for over 13 years. 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.

Biotech MegaShift

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.

Biotech Market

The S&P Biotech Index percentage deviation from its 200-day moving average for this leg of its post-2021 bear market has cycled back to the -25% to -30% area, matching the lows during the Great Financial Crisis (-28%), the February 2016 low (-38%), the December 2018 low (-36%), and the Covid low (-35%). Deeper readings greater than -40% have occurred only three times (April 2001, July 2002 and May 2022), when the biotech sector swung from a disorderly blow-off top to a meltdown bottom.

Click for larger graphic h/t @EdenRahim

Medicenna (MDNAF – $0.65) presented at the Jones Healthcare and Technology Innovation Conference (AUDIO & SLIDES HERE). CEO Fahar Merchant gave the standard corporate backgrounder. They have a lot of data coming on MDNA11 this year.

Click for larger graphic

He said the fifth competitive IL-2 program just failed, and some of the failures were from multi-billion dollar acquisitions. MDNA11 has solved the side effects problem.

Click for larger graphic

In the coming weeks they will announce some results from the combination of MDNA11 with
Merck’s Keytruda. Buy MDNAF under $3 for a first target of $20.
Primary Risk: Their drugs fail in the clinic.
   Clinical stage of lead product: Entering Phase 3
   Probable time of first FDA approval: 2025
   Probable time of next financing: 2025

TG Therapeutics (TGTX – $35.98) will do a registration-directed trial to combine the currently approved Day 1 and Day 15 doses of Briumvi into a single 600 milligram dose on Day 1, and ultimately incorporate this regimen into the Briumvi label. Hold TGTX for a target price in a buyout of $40 or more.
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: Never

Inflation MegaShift

Gold ($3,166.00) soared to a new record high amid an ongoing flight from fiat currencies as the fake global trade war turns to a currency war and possible global devaluation. And gold miners finally are breaking out, but US investors still don’t own them. Next: They’re forced to buy at higher prices to chase relative outperformance. Precious metals are almost the only thing working right now, with amazing relative strength. This is the Van Eck Vectors Gold Miners Exchange-Traded Fund (GDX):

Click for larger graphic

Gold was caught in last Friday’s drop, which flipped the weekly candle from white to red. But this week’s strong performance meant last Friday just delayed the fractal dimension’s push to a new low. It is out of gas and this rally probably is going to pause, if not retrace.

Click for larger graphic

Miners & Related

First Majestic (AG – $6.02) produced 7.7 million silver equivalent ounces in the March quarter, including an all-time record 3.7 million silver ounces, 36,469 gold ounces, 12.5 million pounds of zinc, and 7.5 million pounds of lead.

They made a presentation at the recent Mining Forum Europe conference which is not available on their website. I found a Seeking Alpha transcript, but I think this is a violation of SEC Rule FD. I’m going to bring it to the company’s attention. 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 – $7.60) said March quarter revenues were above consensus expectations. They sold approximately 18,500 attributable gold equivalent ounces and realized record preliminary revenue of $50.1 million. Total sales, royalties, and income from other interests hit $54.1 million.

Their preliminary cost of sales was $6.9 million, resulting in record cash operating margins of approximately $2,507 per attributable gold equivalent ounce. During the quarter they bought back approximately 3.1 million shares for approximately $19.0 million. 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.

Bitcoin (BTC-USD on Yahoo – $79,888.71) gets pummeled or rockets higher depending on how the Tariff Tantrum is fairing, but it could be the biggest beneficiary of tariffs, according to Jeff Park, Head of Alpha Strategies at Bitwise.

Click for larger graphic

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

iShares Bitcoin Trust (IBIT- $45.17) remains the cheapest and easiest way to buy bitcoin. IBIT is a Buy for the 2028, 2032, and 2036 halvings.
Primary Risk:Bitcoin falls due to over-regulation or is surpassed by another cryptocurrency.

Ethereum (ETH-USD on Yahoo – $1,529.89) is the blockchain of choice for stablecoin transactions. Roughly $80 billion worth of stablecoins change hands every day, and over 60% of these transactions happen on ethereum and ethereum Layer 2 networks like Base and Arbitrum.

Think of stablecoins as the equivalent of a bank, and ethereum as the SWIFT payment network. Each time someone uses ethereum’s blockchain, they pay a fee for using the network. Last month, fees from stablecoin transactions generated more than $2 million in revenue for ethereum.

US dollar stablecoins are as good as US dollars, and they can be transferred anywhere around the world in seconds, 24/7/365. No banks. No waiting. No Western Union middlemen or the costs and delays associated with them. Stablecoins are the only way to send $10,000 to a friend halfway around the world in seconds, from your phone, for less than a penny. Stablecoins now process more transactions than Visa and MasterCard combined.

Click for larger graphic h/t stablepulse.org

Over the past five years, the number of stablecoins in circulation has soared from $4 billion to $230 billion:

Click for larger graphic h/t stablepulse.org

As stablecoin volumes continue their steady march higher, I expect revenues to ethereum from fees to surge. The Tariff Tantrum cut the price of ETH in half. ETH-USD is a Buy.
Primary Risk: Bitcoin extensions outperform Ethereum.

iShares Ethereum Trust (ETHA- $11.43) remains the cheapest and easiest way to buy ethereum. ETHA is a Buy for the coming explosion in token-funded start-ups.
Primary Risk: Ethereum falls due to over-regulation or is surpassed by another cryptocurrency.

Commodities

Oil – $60.23

Oil fell to a four-year low as commodity trading advisers went from 9% short to 73% short in a single day, following a surprise output increase by OPEC+ and the Tariff Tantrum that’s also rattling commodities markets from metals to gas. Eight OPEC+ countries unexpectedly agreed last Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day in May – triple the original plan. That might just be a temporary punishment for Iraq and other cheaters. It’s working!

Oil prices fell on expectations by those who have not read The Art of the Deal that economies will slump as China, Canada, and the European Union push back against the proposed tariffs. West Texas Intermediate between $65 and $75 barrel means returns are good enough to keep production flat, but prices aren’t high enough to drill Tier 2/3 wells to keep production flat. So the price drop forces capital spending reductions, which force production lower.

Canadian producers have been paying down debt, so they only need $51 oil to keep production flat and pay their planned dividends. But below $60, US shale producers don’t have enough cash flow to maintain production.

US Crude production slipped notably last week:

Click for larger graphic h/t Zero Hedge

And the Energy (Mis)Information Administration finally cut their US oil production forecast, but not enough. Stay tuned!

Click for larger graphic h/t @ZmansEnrgyBrain

As for what’s next:

Click for larger graphic h/t @chigrl

The July 2026 Crude Oil Futures (CLN26.NYM – $58.32) are a Buy under $70 for a $200+ target. Only buy futures for all cash; do not use margin.

The United States 12 Month Oil Fund, LP (USL – $32.93) is a Buy under $40 for a $100+ target.

Vermilion Energy (VET – $5.74) is a Canadian and international oil and gas producer. Even people who are bearish on oil can be bullish on Canadian energy stocks. When the storm passes, the twilight of US shale will cause a scarcity premium for companies with multi-decade inventories. VET is a buy under $11 for a target price of $24 or more.
Primary Risk: Oil prices fall.

Freeport McMoRan (FCX – $31.35) was hurt as the Tariff Tantrum pushed copper prices down to their lowest since January on fears of a global recession.

Click for larger graphic

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

* * * * *

The Secular Bull Market Isn’t Dead: Jim Paulsen on Why Tariffs Won’t Break It

* * * * *

Shadow & Jackie Raising Two Eaglets

* * * * *

Your Rational Optimist Editor,

Michael Murphy CFA
Founding Editor
New World Investor

All Recommendations

Priced 4/10/25. 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.

Tech Dominators
  Apple Computer (AAPL – $190.42) – Buy under $205
  Corning (GLW – $41.69) – Buy under $33, target price $60
  Gilead Sciences (GILD – $101.40) – Buy under $90, first target price $120
  Meta (META – $545.29) – Buy under $655 for a long-term hold
  Micron Technology (MU – $70.05) – Buy under $102, first target price $140
  Nvidia (NVDA – $107.57) – Buy under $125, first target price $180
  Onsemi (ON – $34.88) – Buy under $60, first target price $100
  Palantir (PLTR – $88.59) – Buy under $100, target price $150
  PayPal (PYPL – $60.56) – Buy under $68, target price $136
  Snap (SNAP – $7.83) – Buy under $11, target price $17+
  SoftBank (SFTBY – $22.15) – Buy under $25, target price $50

Small Tech
  Enovix (ENVX – $5.92) – Buy under $20; 4-year hold to $100+
  First Trust NASDAQ Cybersecurity ETF (CIBR – $61.66) – Buy under $60; 3- to 5-year hold
  PagerDuty (PD – $15.35) – Buy under $30; 2- to 5-year hold
  QuickLogic (QUIK – $5.06) – Buy under $10, target price $40
  Redwire (RDW – $9.37) – Buy under $18, first target price $36
  Rocket Lab (RKLB – $19.63) – Buy under $13, target price $30+
  ARK Venture Fund (ARKVX – $28.90) – Buy for SpaceX

$20-for-$1 Biotech
  AbCellera Biologics (ABCL – $2.07) – Buy under $6, target $30+
  Akebia Biotherapeutics (AKBA – $1.55) – Buy under $2, target $20
  Compass Pathways (CMPS – $2.70) – Buy under $20, hold a long time for a 10x return
  Editas Medicines (EDIT – $1.11) – Buy under $6 for a double in 12 months and a long-term hold to much higher prices
  Inovio (INO – $1.58) – Buy under $14, hold a long time
  Medicenna (MDNAF – $0.65) – Buy under $3, first target $20, then maybe $40
  ScyNexis (SCYX – $0.88) – Buy under $3, target price $20, then $50

Inflation
  A Short-Sale or REO House – ($415,400) – Hold
  Bag of Junk Silver – ($31.03) – hold through silver bull market
  Sprott Gold Miners ETF (SGDM – $39.25) – Buy under $28, target price $50
  Sprott Junior Gold Miners ETF (SGDJ – $42.66) – Buy under $39, target price $100
  Sprott Physical Gold and Silver Trust (CEF – $27.97) – Buy under $18, target price $30
  Global X Silver Miners ETF (SIL – $38.14) – Buy under $30, target price $50
  Coeur Mining (CDE – $5.49) – Buy under $5, target price $20
  Dakota Gold (DC – $2.77) – Buy under $2.50, target price $6
  First Majestic Mining (AG – $6.02) – Buy under $11, next target price $23
  Paramount Gold Nevada (PZG – $0.38) – Buy under $1, first target price $10
  Sandstorm Gold (SAND – $7.60) – Buy under $10, target price $25
  Sprott Inc. (SII – $44.01) – Buy under $40, target price $70

Cryptocurrencies
  Bitcoin (BTC-USD – $79,888.71) – Buy
  iShares Bitcoin Trust (IBIT – $45.17) – Buy
  Ethereum (ETH-USD – $1,529.89)– Buy
  iShares Ethereum Trust (ETHA- $11.43) – Buy

Commodities
  Crude Oil Futures – July 2026 (CLN26.NYM – $58.32) – Buy under $70; $200+ target
  United States 12 Month Oil Fund, LP (USL – $32.93) – Buy under $40; $100+ target
  Vermilion Energy (VET – $5.74) – Buy under $11; $24 target
  Energy Fuels (UUUU – $3.79) – Buy under $8; $30 target
  EQT (EQT – $48.49) – Buy under $35; $70 first target
  Freeport McMoRan (FCX – $31.35) – 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.
  Fastly (FSLY – $5.38) – Hold for March quarter results
  TG Therapeutics (TGTX – $35.98) – Hold for buyout at $40+

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.

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