BAT

Beat, raise, explore strategic options. All opinions sourced from much smarter ppl

[BAT @BATMongoose]

Hot take: Everything is cyclical, nothing is secular. There are only longer cycles and shorter cycles. At the end of THE GREAT CYCLE we are all dead and the Universe itself burns cold 🥁

[RTB 🚀 - AKA Mr Wen, Based Kitten @RaisingTheBAR47]

Hot take: a company who’s growth goes from 50% to 0% in recession is just as cyclical as a business who’s growth goes from 25% to -25% in a recession

Multiples reflect trend growth so only 2nd derivative

“Secular growth” favorites are actually extremely cyclical

#EFT

[BAT @BATMongoose]

@HarmonDann19141 What does that even mean? I would have expected it to take way longer to separate and initiate that process.

[BAT @BATMongoose]

Trulieve just uplisted. Legal changes to cannabis coming way faster than expected $MSOS

[Trulieve_IR @Trulieve_IR]

Trulieve Announces Uplist to NYSE $TCNNF $TRUL Soon to be TRLV! https://t.co/8SApchtLWx

[Stuart Buck @stuartbuck1]

@TECleveland @cremieuxrecueil I can see the DOGE tweet: "We canceled a contract for Panamanian screwworms, saving $165 million dollars!!!" [https://t.co/Bip6tKzkG1]

Meanwhile: "The slightest oversight could undo all the work that came before."

[BAT @BATMongoose]

@Biohazard3737 Everyone on Wall Street has an economic interest in making this work and is acting accordingly. Dimon of all ppl is pitching it to PWM clients.

Despite the size I'd say less than a typical IPO in a bubble market, maybe 20%.

[Sid Prabhu @sidprabhu]

This is how you know its a great deal...

[Blue Duck Cap - Analyst @BDC_Analyst]

Overheard someone saying Hikma is good but $LQDA still needs to prove obviousness.

DTX3 - On UTHR's May 2018 earnings call, Martine said, in response to a question about using Tyvaso for PH-ILD, that she was aware Dr. Waxman and other doctors used Tyvaso off-label to treat PH-ILD patients, and they told $UTHR that "this drug works" — even better in Group 3 PH (PH-ILD) than in PAH, specifically in improving exercise capacity.

This compounds actually. UTHR's own NEJM paper (the INCREASE publication) identifies Faria-Urbina and Agarwal as "pilot studies" that provided a reasonable expectation of success to run INCREASE.

UTHR's start witness also testified no company runs a Phase 3 trial like INCREASE without proof-of-concept pilot studies. So UTHR's own witness and own documents establish that the prior art gave both motivation and a reasonable expectation. Liquidia's opening brief opens with exactly this btw: "This drug works." — UTHR's CEO, 2018.

Thank you Dr. Rothblatt & Dr. Nathan for your service.

[BAT @BATMongoose]

Dystopian watching Elon buy off the entire financial industry.

Soon the same clowns that facilitated this "wHY aRe THa YOUNG ppl socialist"?

Can't have anything to do w/ you turning capitalism into a patronage system where the connected get to steal arbitrary amounts from ppl's retirement accounts while screaming "NO CRYING IN THE CASINO".

[*Walter Bloomberg @DeItaone]

GOLDMAN SEES SPACEX AI REVENUE EXPLODING TO $322B BY 2030

Goldman Sachs projects SpaceX AI revenue rising from $3.2B in 2025 to $322B by 2030, a ~100x increase, forming the core justification for its $1.78T IPO valuation. Total revenue is forecast to reach $474B, with Starlink at $144B and rockets at $8.3B.

AI segment growth is tied to aggressive market assumptions despite current losses and execution concerns around xAI. Overall EBITDA is seen surging to $352B by 2030.

[BAT @BATMongoose]

Tech bros have abandoned rule of law and gone all in on being able to buy one party rule forever.

[Brendan Pedersen @BrendanPedersen]

Scoop: The House Financial Services Committee will host a private, Republican-only roundtable on prediction markets tomorrow, per internal memo.

Guests: Kalshi’s Tarek Mansour, Polymarket’s Neal Kumar, Robinhood's JB Mackenzie and the American Gaming Association's Chris Cylke.

[BAT @BATMongoose]

And ... we're back $LQDA

[BAT @BATMongoose]

$LQDA and all of $XBI getting punished for this $ABVX nonsense

[AnnaF @AnnaFlorcia]

$LQDA Hikma wins SCOTUS trial. Andrews now has what he needs to end this long and painful 327 cloud over our heads.

I expect Andrews to move fast just like when PTAB killed 793.

[Clue Heywood @ClueHeywood]

@kylegriffin1 Blanche should face bar discipline over this. It was a complete sham on the Court and the American people. He was conflicted three times over. He authorized a settlement without a cognizable claim or damages. The fact he's dropping it like a hot potato shows he knows it's wrong.

[BAT @BATMongoose]

Volume in $ABVX fairly low for a blowup of this magnitude. Signals core holders still diamond hands and probably most of the damage in levered retail / pods/ other vol intolerant strats.

[Derek Thompson @DKThomp]

"Late Kakistocracy" is that phase of democratic decline where the regime starts running out of ppl who will work for it, and so the folks who aren't qualified for their current positions are promoted to even larger positions for which they are even more unqualified

[Hiroo Onoda @OnodaCapital]

I am genuinely disturbed that they convicted Andrew Left given the amount of highly visible, egregious financial crime and corruption happening everyday

[BAT @BATMongoose]

$LQDA and all of $XBI getting punished for this $ABVX nonsense

[BAT @BATMongoose]

Is that Park Heritage? Think that's actually on the lower side. At this point it all comes down to San Diego, King of Prussia, and whether tax assets are actually monetizable.

Think the 2028 is worst case - if this is for Mavericks entitlements should be easy (ish) to get right?

[BAT @BATMongoose]

Maybe $GOOG raise is just that the equity trades on <3% yield of PEAK cash flow and debt costs ~5%.

Can't spin it as a great sign for the equity but not quite end of the world.

[BAT @BATMongoose]

Bought $WOLF like a week ago in the low 60s. It is no longer a sexy momentum growth story. It is a grimy value special sit that will never deserve a bid. You’re welcome.

[BAT @BATMongoose]

NY had a chance to be America's darling for a glorious two week period but it was not to be.

The hearts of the nation are with San Antonio.