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    There’s Still Time to Buy Into these Two Monster Rallies - 3/2

    Dylan Jovine
    Saturday, March 2, 20243 min read
    There’s Still Time to Buy Into these Two Monster Rallies - 3/2

    Morning.  Hope this finds you well.

    Not to beat a dead horse, we wanted to mention Viking Therapeutics (VKTX) again.  After mentioning it earlier this week – as it traded at $69.79 – it’s now up to $90.69. All thanks to its obesity treatment news, and growing speculation it could be acquired. Also, we’re sure you’ve seen Bitcoin. After crossing $61,100, it’s on fire ahead of a Bitcoin halving, and on the fear of missing out (FOMO) rally. We can see FOMO with retail traders jumping into Bitcoin ETFs. For example, according to CNBC: “The iShares Bitcoin Trust (IBIT) had already seen more than 61 million shares change hands by early afternoon on Wednesday, according to FactSet. That is well above its previous record high of roughly 43 million shares, which came on Tuesday. Another multi-billion-dollar fund, the Fidelity Wise Origin Bitcoin Fund (FBTC), already had more than 14 million shares change hands on Wednesday, putting it on track to surpass the 16.8 million traded on Jan. 11, its first day of trading.”

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    Uranium stocks and ETFs look interesting on dips, too. Uranium prices are at a 16-year high. All after one of the world’s biggest producers of uranium, Kazatomprom warned it’s likely to fall short of production targets. According to the Kazakh uranium mining company on February 1, “It will produce only 80% of its permitted maximum uranium output allowed under Kazakh subsoil usage contracts, instead of the previously announced 90% level, due to difficulties procuring sufficient levels of sulfuric acid, a key ingredient in the company's in-situ uranium mining process,” as noted by S&PGlobal.com. The company had warned in a Jan. 12 statement about the potential to not meet the previously indicated 90% level due to the sulfuric acid issue and delays in completing construction works at newly developed [uranium] deposits. Some interesting uranium stocks to consider are Cameco (CCJ), Energy Fuels (UUUU), and ETFs such as the Global X Uranium ETF (URA).  

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    Written by Dylan Jovine

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