Mostly Biotech 🧬

BREAKING: Apollo has capped redemptions from one of its largest private credit funds after today’s withdrawal requests exceeded 11% of outstanding shares. Cracks in the private credit market seem to be spreading.

This is unprecedented: Short positions in Brent crude oil futures by producers, merchants, processors, and commercial users are up to a record $193 billion. These are the companies that physically produce, refine, trade, and consume oil, from major producers and refineries to shipping firms and industrial users. Short positions have DOUBLED since the start of the year. By comparison, the 2022 energy crisis peak was ~$155 billion. By selling futures contracts at today's prices, producers are agreeing to sell their future oil at ~$100+ per barrel, even if the market price falls by the time they actually pump it. This guarantees their revenue regardless of where prices go next, protecting their margins when prices normalize. Oil producers are seeing unprecedented profitability.

@WassimLaroussi3 The most important thing is to have a good product.. the rest is just a marketing and sales job which is an easy fix! Plus, KURAs drug was just approved (end of November)! I would give them 1-2 quarters for marketing.

$KURA vs $SNDX While Kura's drug has more potential to move frontline (based on safety profile) - it's still lagging in "Marketing" and Commercialization. Prescribers would most likely look (google) for the drug by drug name, while consumers would look for the brand name. Google Trends $KURA looking very attractive at current valuation, but they need to change the way they are commercializing their product.

@monaco_biotech @Citrini7 💯 exactly

@Citrini7 At some point, we’ll reach a point where a Taco no longer elicits any reaction at all. That’s just how it is with things that are overused to cover up lies.

I can’t be the only one noticing the seeming diminishing returns of a TACO

KALSHI TO BLOCK ATHLETES, POLITICIANS FROM TRADING: AXIOS

Trump: you have 48 hours to comply Iran: nobody cares Trump: you have a week

$SRPT having a good day!

Trading is a little different now...

THE STRAIT OF HORMUZ IS DOTTED WITH ABOUT A DOZEN IRANIAN MINES - CBS

They may manipulate the stock market, but they can't fool the bond market! $TNX #US10Y

5 minutes before Trump’s announcement: * $1.5B notional worth of S&P500 (ES) futures are bought in a single clip. * $192M notional of oil futures (CL) sold. More than 4x-6x any other trade size during the market close. Insiders profited from his lies in broad daylight!

EXPLOSIONS REPORTED AT U.S BASES IN KUWAIT - BBG

After saying we had productive talks with Iran (still don’t know who we were even talking to), Trump says maybe he himself would control the Strait of Hormuz… Can’t make this up, there is no plan

IRAN'S REVOLUTIONARY GUARDS SAY THEY LAUNCHED A NEW ATTACK ON TARGETS IN ISRAEL, US BASE IN THE REGION

$PYPL just made Venmo a lot more interesting! The headline is simple: Venmo users can now send money to PayPal users across 90 markets. But the real move here is bigger than cross-border P2P. It pushes Venmo further away from being just a U.S. social payments app and closer to a global money network. That matters because PayPal has spent years sitting on one of the strongest consumer payment brands in the world without fully monetizing the asset base. Venmo was always the obvious first-mover advantage, and product moves like this are the closest thing to actually compounding that advantage instead of just talking about it. From an investor angle, this is the kind of update that can help rebuild the narrative around $PYPL: better engagement, a broader network, and more optionality on monetization if management keeps shipping. It is still early, but the direction is interesting.

🚨 $PYPL expands its stablecoin PYUSD into 70 markets $CRCL is valued at $32 billion while $PYPL at $40 billion. That’s really crazy considering PayPal has Venmo, Stablecoin, Braintree, PayPal branded checkout and PayPal Advertising Business encompassing 400 million users !! And market today is valuing none of those business fully !! And add a 15% buyback yield to it !!

$ARDX 🏅Trading at the LOWEST multiples in its entire commercial-stage non-oncology biotech peer group with best-in-class gross margins 📈for FY2025, rock-solid fundamentals, and a management team that has executed after past miscues. Shoutout to Night_Owl_Biotech👏🏻

@LmMacro_ @KobeissiLetter That ship has sailed! 🚢

@KobeissiLetter Announcing detailed concessions before Iran confirms anything just weakens your own negotiating position.

BREAKING: President Trump says his envoys Steve Witkoff and Jared Kushner have spoken with a senior Iranian official, with potential "deal" terms emerging, per Axios. President Trump on potential deal terms: 1. Iran committed not to pursue nuclear weapons or to enrich uranium, and to hand over its existing stockpiles 2. Iran agreed to be "low key on the missiles" 3. Iran also agreed to reopen the strait of Hormuz 4. "If they carry through with that it will end the conflict. They want to make a deal. We want to make a deal too. If this happens it is a great start for Iran to build itself back," Trump said The US notified Israel on Monday about the peace talks with Iran. We await comment from Iran.

$SRPT (Sarepta) PT🎯 to $30 Jefferies reiterates Buy 📝Analyst sees regulatory catalysts and Elevidys rebound potential driving upside, with pipeline data adding further optionality.