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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Why retirement accounts are in danger…
Banks refusing to give people their cash. Forcing them to use digital money. Imagine going to your bank. Only to be told you can’t access the cash in your account. This is not a fantasy. It’s happening right now. |
Another great way to trade Bitcoin upside is with the ProShares Bitcoin Strategy ETF.
If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.
BITO is mimicking the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys but can instead invest through a broker they already use.”
| Could this be YOUR “life or death” in trading?! In a minute, you’ll see why using AI could eventually become a matter of “life or death” in the game of trading. I am sure that you have read a few articles about the recent strikes by the USA to avenge the attacks by Houthi militias on US soldiers. But did you know that the US used artificial intelligence to choose targets? |
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).
