Stocks Bounce Back, NVIDIA Doesn’t (Time to Cash Out?)

[00:00:00] Speaker 1: Hello and welcome to MarketBeat Monday. We are so glad that you are here with us today. I'm excited to talk about a good green day in the market after last week's very red day in the market. Joining me, like usual, are MarketBeat analysts Chris Marcotch and Thomas Hughes. Guys, thanks so much for being here again today. Again, the main story of the day is this green heat map in pretty much every sector except that little red by NVIDIA. And we all know that's bad or that's due to some bad news for the company. So I think I want to start there. We had a couple of questions right away off the bat of people asking us to talk about the NVIDIA CEO headlines happening today. Thomas, let's start with you. What's your take on all of the Jensen Wong headlines [00:00:43] Thomas Hughes: that we're seeing today? Yeah, I think it's mostly noise. It's, you know, it's bad news. He had an affair. There's some spy allegations. It's not going to affect the company's business. It will affect politicians. We may have some stronger calls for regulation. But I think ultimately more regulation is a bonus for the industry. Regulation means barriers to entries. That builds a moat for these established, you know, first movers. So the businesses like NVIDIA that are already here established with AI and producing AI are strengthened by regulation. So I think that ultimately that is the [00:01:21] Speaker 1: outcome. Yeah, I think, like you said, it's not going to affect the business. The business is still the same. But I think the fear is, is there any chance that this this affair gets Jensen kicked out as CEO? And what impact could that have on the business? And that's the speculation I've been hearing lots of different people talking about today on different channels and things. Chris, any take on that? What are the chances one that he's out of CEO? And what kind of impact could that have? [00:01:48] Chris Marcotch: So if he's out of CEO, that's going to have a very significant impact on NVIDIA. But I wouldn't count on that happening anytime in the near future. Everything that I was hearing was saying that if that were even a possibility, you're probably not talking about something's going to happen until the first quarter of 2028. One of the reasons behind that bridge is because NVIDIA has no clear succession plan in front of it. Right now, the succession plan is children of Jensen Wang. That's the succession plan. And that's, so if there was going to be a succession plan, there would, I'm sorry, if Jensen Wang were going to be removed, there would probably have to be a viable succession plan put in place. That doesn't exist yet. I think I look at, I listened to what Thomas said. I don't necessarily think this is just noise, but I don't want to really comment on it until I know what it is. I think we have to find out. I don't care about the details of the affair. I care about what he may have shared that may have gone. Is there any way that NVIDIA has invested in ghost companies in China that we don't know about? Those are the things that's more important. I'm not optimistic at all that if we get this into Washington DC, that we're actually going to get those answers. And instead we're going to be wading into waters that we don't even want to get to. But that's the question for me as far as how it impacts the company. But as far as Jensen Wang himself, I believe he's the CEO for now, he's going to be the CEO for the foreseeable future. And to Thomas's point, this doesn't affect the performance of the NVIDIA product. It's still the gold standard. It's going to be the GPU that every company wants. Although I would have to think that [00:03:46] Speaker 1: Lisa Sue's a little happy today. That's definitely something I've heard somewhere else today, too, is that it's a really good day for AMD. And I'll get to that in just a minute. I've got NVIDIA's chart pulled up right now just to show it was a really bad day for NVIDIA after what's been a bad couple of weeks for the whole AI trade. And so even though the stock is only down just a little under five percent today, I'm curious if either of you think if it weren't for the incredible day the rest of the market had, do you think NVIDIA could have dropped even more? I think that maybe this bright green, diverse, big rebound we saw today kind of helped NVIDIA maybe not drop as much as it could [00:04:25] Thomas Hughes: have dropped. Do you think there's any truth to that? I don't know about that. Looking at the chart, it looks like the market was ready to buy NVIDIA. I mean, it did close with a decline of over four percent. But from the low of the session to the close, it only moved higher. That reflects buying. People were ready for this dip. I think NVIDIA's I think the bad news was just coincidental with the timing. I think the market was ready to start buying. I think what we're seeing is just a broad base validation of what I've been saying like for the last like two quarters, you know, the selling made people went away in the spring. They came back in the fall. There's been some buying and some positioning, but we've really been in this kind of limbo period waiting for the election. Now that the election is over and we've got some more clarity, what we're seeing now is to me is a pretty solid, you know, buy signal, a broad base buy signal across the market, across indices, across market caps, across sectors, just validating my long term bullish thesis. All right, let's talk about the rest of the [00:05:27] Speaker 1: market here because I think there's a lot to talk about. That bullish thesis really proving true this week. Somebody said in the comments earlier, and again, we're going to get to if you've not been to Market Beat Monday before, we're going to get to all the individual stocks that you want us to cover. There's a lot of great stocks already in the chat. Keep putting them there. We're going to get to those in just a minute. But I want to do one more broad look at this overall jump that we saw in the market. Somebody said if you had bought on Thursday, there was some fear about buying on Thursday because of the volatility that we've had. And volatility is really the only word for it, guys, because on Wednesday, we had a huge green rebound right after the election. Thursday, we had a major, major downfall, and everybody felt that pain. And then on Friday, we started to rebound again. And then today, that huge rebound continued. And so I think that the thing is, when do you know to buy? Because there's so much fear about, is this the bottom? You know, if you would have bought on Thursday, there was definitely fear that it was going to continue dropping on Friday. What are your takes on how to handle the kind of back and forth volatility we've continued to see, not just last [00:06:29] Thomas Hughes: week, the week before was kind of like that, too? Well, it's hard to know exactly where the bottom is. And most traders don't really try to call the exact bottom because you wait for the signal and then you wait for some confirmations to start piling into the trade. But in this regard, this is a situation, a market like for me personally, I've been watching for a long time. I've got a very bullish thesis on the market. The fundamentals are all still to me very clearly bullish. There is some shifting going on within the market. But with that in play, for me, the backdrop was bullish. So with that going on, these periods of uncertainty and fear and selling are the signals that I wait for. It's like if the market is bullish, you wait for those irrational periods of fear and selling to get into the market, because that's when you're going to get the best prices. I think what we saw last Thursday was just the final sell off in this current consolidation of the market just, you know, selling out of whatever it felt like needed to be sold. And then today, what we're seeing is just, you know, broad-based buying across sectors, maybe not all stocks necessarily, but all the stocks that are producing cash flow and have a good growth outlook or are actually truly critical for the AI build out. [00:07:40] Speaker 1: Yeah. All right. Let's get into some stocks. One other thing I wanted to do on the heat map while we were on the live stream here, you look at the one day, we've got a nice green seven day, still a lot of green in there, but we're starting to see more in the last week that are still in the red. And then if we look at the 30 day, I think we're going to see, oh, there is still a lot of green there. There's more of the tech sector that's still in the red on the 30 day. And so there's clearly still some room to buy the dip on a lot of these really big names. And that's some of the ones that we were seeing in the chat right now. So we're going to get into some of those stocks right now. I do have an exciting announcement though, for the first time ever, actually here, let me give your assignments and then I'll make my little announcement. Thomas, we have Redwire. Let's take a look at that one first. Look at our Redwire and then Dell is another name. And then Chris, I'm going to have you look at TGB and FLEX. Let's do those two first. Those were some of the earliest chats that we had coming on this live stream. And now for my little special announcement, we have a sponsor of our live stream to help make this possible every week. It's a really big deal for us. 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We're definitely well off the lows, but also still very near the lows of this current correction. What I see happening with this one is, one, it's part of the general market rebound that we had just been talking about. But the space industry got some good news. Yesterday over the weekend, NASA was giving information at an event and they said that they were going to be spending billions on lunar development, looking for moon bases and infrastructure to support that, which is good for all of the space-based infrastructure stocks. So Redwire, Intuitive Machines and some other names have all been moving higher because of that. [00:11:03] Speaker 1: Yeah, that's a significant one-day jump, especially to see a 12% rebound, which is great. Everyone knows the stock is still down significantly from the highs, but it is good to see that it's bouncing back. As far as what it could take to get this stock invigorated again, Thomas, I think that's the main question that investors have, is when are we going to get to this consensus price target level where the stock should be trading, according to analysts, around about $14 and we're well off of that target. What will it [00:11:31] Thomas Hughes: take to get there? It looks like we could be on track for that now with the rebound in place, the backlog is swelling. We're in execution phase, so the company is going to be ramping production and delivering product, hopefully better than expected and producing results. So over the next two to three quarters, be on the lookout for improving results and improving momentum. I think that with those in place, we can easily rebound and regain that consensus target. [00:11:58] Speaker 1: All right. And overall space sector, Thomas, do you think it's still a good time to buy the dip, even though we had this little one-day rebound? Is it an even better time to look at buying these stocks once they do have a nice rebound like this? [00:12:09] Thomas Hughes: So within the idea of it being a rebound, I would say that today is one of your signals that it is at the bottom and it's time to start buying the stock. Up until now, it was speculation. We have seen some other signs of it being the bottom. Haven't all necessarily played out, but this signal here is really confirming the low end of this range and showing the bottom. And with the signal being played out across the sector and the market in general, it just tells me that there's not just a shift today or a shift in the stock, but it's a shift in the entire market, which is what we've really been looking for, for all these sectors that we talk about. They've all got fundamentally good outlooks. They just had a bad market backdrop pressuring their stocks lower over the past few quarters. [00:12:57] Speaker 1: All right. Very good. Let's get into Dell now. A little bit of a different story for sure. I haven't looked recently. Was Dell hit harder than some of the other companies or did it hold its [00:13:06] Thomas Hughes: ground? Let's see. Oh, it looks like it's been hit pretty hard. It's down pretty good. So like 20, 25 percent, 30 percent. So it corrected pretty hard. Part of the AI fear. But another stock, another baby getting thrown out with the bathwater, the market shifting from the speculation of which AI stocks are important to the ones that actually are important. And Dell is one of the ones that's actually important. It's absolutely critical for delivering AI at scale. It's important to all the hyperscalers and enterprise AI, generally speaking. Right now at these levels, it's trading at an ultra deep value, only 13x its current year earnings. So to me, it could rise by almost 100 percent just based on valuation. But within this, the forward outlook puts it at an even deeper value. So we're looking at about 7x within five years. So to me, Dell is a deep value story along with some other AI names waiting for execution. So when we get those numbers coming in, showing growth and cash flow and earnings, the stock price is going to start moving higher again. We're going to see the valuation reinflate. I think that this one could easily be a multi-bagger over time. [00:14:17] Speaker 1: All right. Very good, Thomas. The next two I'm going to have you cover are COHR and then Qualcomm. Q-C-O-M. I'll have you look at those two next. And then, Chris, let's get into TGB. These are both, I'm assuming kind of smaller companies. What is TGB? [00:14:34] Chris Marcotch: OK, so TGB. TGB is a mid cap. It's just a mid cap. It's just a little bit over a $2 billion market cap. So this is a company, it's called Tseco Mines. Some people are, excuse me, it's Tricor Metals. Excuse me. Sorry. It was Tseco Mines. It changed its name in June at its annual meeting. So this is a copper miner that's located in British Columbia. And for years, the company was known for its Gibraltar product in British Columbia. That was the company's only mine that they had. That's changing because they have the Florence copper mine in Arizona. That has the distinction of being the first new U.S. copper mine in a greenfield project in 17 years. So that's huge. And it plays into the whole idea of the supply demand dynamic for copper has never been this skewed in favor of a miner like, you know, like Tricor that's trying to get copper out of the ground. The problem that showed up in the earnings report, if it's a problem per se, is the fact that Florence is behind schedule. It's running about three months behind its Wellfield plan. The company's cut its target for Florence to about 25 to 28 million pounds. And the company still has significant debt on its balance sheet. So here's a company that's mid cap, doesn't pay a dividend. Any of the cash it's got coming in or a lot of the cash it's got coming in, it's using to pay off significant debt doesn't mean that it's not an investment. It's just a speculative one. Investors have to be very careful when it comes to mining stocks in general, especially when you start getting into some of these mid cap mining names. If investors are looking for maybe a sure play on copper, you'd be looking at some of the bigger names like Southern Copper or Freeport Mac Moran, I understand the appeal of a company like like Tricor because it's it's mid cap and the idea is it's the risk reward dynamic skews in that favor. But you have to be careful. There's only about 17% institutional ownership. You're not going to see this stock being purchased by ETFs and different things. So it's going to be a retail only play. But you know, the supply demand dynamic works out very well, especially since the price of copper is supposed to be elevated still over through 2027. [00:17:09] Speaker 1: All right, very good. Let's take a look at Flex next. What is this company? [00:17:14] Chris Marcotch: Okay, so Flex is an infrastructure company. I will be honest, I was not familiar with this company before you told it to me. But what's interesting about this is Thomas made the comment at the beginning of this that, you know, what we're starting to see now is a separation between quality and quantity. And a lot of investors are now saying no, we're not going to invest in the entire AI field. We're looking and we're picking out some of the good names. That's where the story for Flex comes in. The engine that's driving this company right now is their cloud and power infrastructure division. It builds power and cooling gear inside AI data centers. That segment grew in its last quarter 54% to two and a half billion dollars with a operating margin of over 10%. Management expects to grow 70, that unit to grow 75 to 85% in the fiscal year. So, you know, it's got earnings coming up, I think in late November, if I remember seeing that correctly, double check that. No, I apologize doesn't actually this, this is one that doesn't report until they just reported at the end of October, so they're not going to report again until until the first of the year. But this is a company that if you're going to say there's a risk, the risk here is concentration risk, because a lot of their growth is coming from only a handful of cloud customers and it's going to rely on those customers continuing to spend. [00:18:46] Speaker 1: Yeah, this one's really interesting. I don't think it's a name we've seen too often. I know I've heard the ticker before, but never really, it's never been a top covered stock on the channel. And just looking at how much it's down right now, it's very close to the bottom of that 52 week range, looking at what analysts have to say. And even looking at the PE on this one for a tech stock, the PE of 28 is actually pretty interesting. And that's not even looking at the growth projections for the company. So are you interested in this as an interesting buy right now? Or is it still more of a show me story? Is that concentration risk too much for you to look at this as a good buy the dip [00:19:22] Chris Marcotch: opportunity? Um, it's, it's down, it's down 34% in the last month. It's down 35% last three months. I think there's, I think there's an opportunity here where it's at now it's trading down near just it's trading about 20% above it's, it's 52 week low. I think there's an opportunity here to get in. And you were mentioning about the PE ratio and it's 11 times forward earnings. And that's incredible. I mean, the whole market multiple has come down significantly just in the last, just in the two days last week, a lot of stocks that used to look very expensive, aren't looking quite as expensive. The 28 PE that looks a little expensive, but the 11, four, 11 times forward earnings doesn't look [00:20:13] Speaker 1: expensive at all. Yeah. It's also just interesting. You said it's, it's about 20% off of its lows. Well, 12% of that came today, right? That had a 12% jump today. And that's a lot of these names that we're going to cover today. Everybody had a good bounce and it's, it's nice to talk about, uh, what a day when, when everything is up a little bit, but many of them are still down off the high significantly. So still an interesting time. Okay. Let's give you another two stocks to look at here, Chris. I'm going to, I'm going to have you do USAR. I know it's a name that we've covered lots of times, but there's a lot happening in that critical materials sector right now. I think, um, it might be one of the exceptions of maybe they didn't bounce as much today. And I'd love to know why there's also a looming date to talk about. So we'll, we'll talk about USAR and then from Facebook, somebody watching on Facebook wants to hear about VEV, V E E V. So I'll have you look up those two. Okay. Okay. Thomas COHR. It's been a while since we've talked about this one. [00:21:06] Thomas Hughes: All right. Coherent. Yeah. Yeah. Um, the stock is down pretty good, but it's just suffering from all the same AI malaise as everybody else. Um, this company is absolutely critical to AI for optics and photonics. Uh, so what I'm seeing in the chart is just a natural market mechanic correction within this very robust rally setting up for, uh, for future upside. Uh, today's move was better than 16%. Definitely shows support confirmed support at long-term moving averages. Uh, the candle signal is a, a bullish attack pattern, which is a very strong pattern, uh, shows a very strong rebound in place. Um, I would expect to see this stock continue moving higher over the next couple of weeks. Um, probably alongside the rest of the AI complex. [00:21:53] Speaker 1: Yeah, this one's interesting for sure. Um, looking at, it looks like so many of the other AI stocks right now where we're down well below that consensus price target of where the analysts believe that these stocks should be going. And again, we've talked many times, not everybody pays attention to what analysts have to say, but I do think it's interesting information to look at in the last month, really, even in just November, we're having price targets, uh, multiple in the over $400 price target range. So many analysts do see a lot of upside for this [00:22:23] Thomas Hughes: company. Thoughts on that. Oh yeah. I just say, yeah, right. I mean, uh, the trends are, are very bullish, uh, but this market is one that's still kind of, you know, discovering where it's going and fleshing itself out. Uh, so if you assume that, you know, the price value, you know, rises in a straight line, fundamentally the market's going to move up above it and below it over time, you know, trying to front run the market, trying to front run growth, selling off at fear. And so somewhere in there, the average is where the actual value of the company is, uh, right now, all of the trends are, are pointing higher. Uh, so with that in play, uh, the stock price trend is going to be higher right now. What I'm seeing is just one of those pullbacks and overreactive pullback that has the market at an extreme low. So what we're looking for now is that rebound. And in this situation with, you know, volume steadily rising over the past eight quarters, uh, the subsequent rebound could be very, very strong, uh, move back to $400 is not out of the question and new all-time highs are probable based on the fundamental story within AI. Yeah. One thing I just noticed here was looking at [00:23:29] Speaker 1: the earnings report that came out on November 4th, it was a really solid earnings report, some really strong numbers there. And you look at what the stock did on November 4th. And we really, we had a downturn and we saw so much of that in the last couple of weeks of earnings during this whole AI scare. We had the election news in there that had a bunch of volatility, like you said, just kind of moving on mayhem is a good way to say what was happening with these stocks, even though it had such a strong earnings report. And we're now starting to see that rebound again, moving on more of sentiment rather than on the actual fundamentals of the company. All right. So the previous week, I would [00:24:05] Thomas Hughes: call that capitulation. Uh, the market was, was waiting for AI news. It got plenty of bad AI news, which was all the spending, but also plenty of good AI news, which was, uh, the swelling backlogs and the forecast for acceleration over the next couple of quarters. You know, so within that capitulation, the market sold off real hard, but it had a point where it was just sold off too much. And then it rebounded real strong on strong volume and that rebound is continuing today. Uh, so again, to me, that's a pretty strong signal. It might not be the very, very bottom, but it looks like a pretty, a pretty, uh, a pretty good guess that it is the actual bottom for the AI sell off. [00:24:42] Speaker 1: All right, perfect. Let's get onto the next one. You have Qualcomm next. Um, did that one bounce as much [00:24:48] Thomas Hughes: today? Q-Com. That one did rebound. Let me get the chart back up here. Only about 3%, it looks like. Yeah, right. Not quite as strongly. Um, this is well positioned, uh, for AI long-term, but it definitely has a near-term headwind. Uh, there's weakness in the handset market for, for mobile handsets, which is the company's primary business. And that's because the telecoms aren't offering the subsidies that they used to offer to attract new clients. So phone users like ourselves are keeping our phones longer and longer. There's slower sluggish phone sales that's being reflected in Q-Com's results. That's keeping the stock price down. Uh, but long-term, uh, Qualcomm is going to be leading AI at the edge. It's going to be the one that's putting AI in the palm of your hand with its edge processing. Uh, so this is an opportunity that's in development. We're just going to need to wait for the handset market to kind of catch up to what the opportunity is. And that could still be, you know, another year or two or longer, uh, just depends on how quickly it takes for the market to normalize, but also for the industry to start getting, um, the applications and the, the need, the pressing need for us to have that edge in our hands. Yeah. Oh, one thing I was going to say [00:26:02] Speaker 1: about Qualcomm is it's trading differently than the rest of the AI market. It's not necessarily trading along with a lot of AI stocks. It's more of that telecommunications. And if you look at the price action, yes, their chart, uh, over the last year does look like it has some ups and downs, but overall we're kind of a wash right now this year. Uh, it looks like year to date performance is about where it was last year. We haven't really had any gains, haven't really had a loss either. It's kind of right now at that kind of wash, right? Yeah. Just kind of treading water for the last two years or so. Right. Yeah. Not much happening with this one. Okay. Well, let's get onto a stock where there's a lot more happening. Thomas, I'm going to have you look at Intel next. That one's had some wild volatility recently. Um, so Intel, I think there's some insider buying on Intel. That would be good to look to talk about too. Um, and then the other one is a different company we haven't really talked about. It's called MOD is the ticker. And I think it's moding manufacturing is the name of the company. Um, so let's take a look at those two stocks next. Chris, let's talk about USAR. Uh, [00:27:01] Chris Marcotch: what did that stock do today? Well, it's, it, it's not what it did today. It's what it's doing right now. And it's, it's actually tumbling after hours. Um, it just, it just released earnings. Um, revenue came in as, um, as a miss, it came in with 3 million in revenue. The consensus estimate was for $6.5 million. Um, and of course the company's not profitable yet. That's not a huge story. Nobody expected it to be profitable. Um, so, uh, the gap net income was positive only because of $137 million gain on their financial instruments. So I think some investors are weighing this and saying it was a, it was a pretty bad report. Um, at a time when I think a lot of investors have very high hopes for [00:27:47] Speaker 1: this stock and this company. Yeah, that's a, the, the bad report is definitely a reason for the, the after hours tumbling right now. And that's, I mean, it had been, it had bounced today, which was good news for the company. That's really been in a strong downfall, but I don't want to make it sound. It's not, it's not just USAR. Anybody who trades in the rare earth sector knows this, this whole sector has been hit right now. And I think what's interesting, we had, I had an industry professional on the show a couple of times in the last couple of months talking about why this sector should have a major catalyst coming up. And that's that January 1st deadline, Chris, you want to talk about that a little bit. And do you think that that could have any impact on USAR in the future? [00:28:24] Chris Marcotch: I'm sorry, the January 1st deadline. That's, um, the Trump administration saying that [00:28:29] Speaker 1: as of January 1st, 2027, um, any defense contractors have to source critical materials from, from domestically. They can't, they can't be sourced from China. And that January 1st deadline is here. And even though an election happened, apparently this is an issue that has bipartisan support. Um, and so far we're not really seeing that fact, the fact that that, that date is coming in January, which is just a few weeks away now. Um, it doesn't seem to be making an impact on the stock. So maybe it's not enough, uh, of an impact to really, to really move these stock prices. [00:29:03] Chris Marcotch: Yeah. And I think really, I think the question is the, um, how much production they're going to be able to get in the United States right now. I mean, they're, they just broke ground on a facility in South Carolina that it's not expecting to be commissioned until 2028. Um, they're targeting annually, annualized market. Yeah. Say that annualized magnet marketing, marketing capacity of, uh, 600 metric tons at the Stillwater Oklahoma plant, but in the fourth quarter, but you know, we're, we're still in the early stages here. So I think the question is going to be how fast can this company get up to production? And then beyond that, whether or not they can turn the revenue that they're going to be getting into profitable operations because right now a lot of the funding they're getting is coming, came from the U S department of commerce. Right. So it's going to just be depending on whether they can generate enough gross profit from the sales they're making. Yeah. I think that's a good point. [00:30:01] Speaker 1: Overall, are you long-term bullish on the rare earth sector, Chris, uh, whether it's USAR or some of [00:30:06] Chris Marcotch: the other companies we talk about on the show? I am. And I think the good news for investors here is that, you know, these companies are still relatively small companies. Um, you know, you're talking about USAR has a, has a market cap of only $2 billion and you know, the, the company, the, this, these stocks aren't going to get away from you. So we've talked about this in the channel before. If you're, if you don't have a position yet, you haven't missed it. You're still very early. So you can start scaling into position now, keep your eye on the earnings reports as they come in and then build your position as the company's earnings convince you more and more that they're moving towards that profitability because really for a company like this, the magic moment is going to be when they can show that they're not only, um, sequentially beating on revenue, but when they're also becoming a profitable company, that's when the stock is going to really go to the races and we're not there right now. So you've got time to build a position and yes, I'm bullish on rare herbs. It's, it's as simply as a situation where we need them, we don't have them and we're desperately trying to wean ourselves away from China on that [00:31:15] Speaker 1: front. All right. Let's talk about Veve next quickly. We'll see what's going on with that stock right now. Um, this is a part of the AI build out story, right? Um, no, not, not, it's not [00:31:29] Chris Marcotch: AI infrastructure story. What it is, is it's, it's actually an AI company that runs a system software for pharmaceutical companies and the companies use them for clinical trials, regulatory filings, quality control sales. So, um, think of it like, um, every trial record, every safety report, every marketing claim has to hold up to a regulatory audit. And so Viva is a company that comes in with their software and they build pre-configured applications that apply those rules to companies' processes. And so that helps streamline that process for them. So it is an AI play, but it's a specific AI play that's helping this specific industry. Um, it had an investor day last week. It, um, it raised its estimated addressable market to about $30 billion. It was 20 billion. And most of that is because of the AI products it has. And it reaffirmed its, uh, target revenue of a $6 billion revenue run rate by 2030. That's up from about $3.7 billion today. So that's roughly 11 and a half percent annual growth. So it's, you know, um, you know, it's, that's, that explains the sentiment on the stock, which has been pretty bullish, not today, but pretty bullish over the last three months. [00:33:03] Speaker 1: Yeah. This chart to me is what really stands out about Viva systems. Chris is looking compared to the three month track record up 33% compared to every other AI stock out there that's down anywhere from 20 to 30% in the last month or three months. So it's definitely trading on more of that bullish software story. I remembered it now that you talked about it. Yes. The pharmacy software company using AI to help. I think that this is an interesting concept. Um, this tiny little pullback. Um, I know we have earnings coming up for this stock towards the end of the month. Um, do you think earnings could be, um, a bigger growth catalyst for this company? Yeah, I think so. I think as a matter of fact, [00:33:42] Chris Marcotch: it would seem to me that that's all the stock's really waiting for. I mean, I see some analysts have already been increasing their price targets just in the last week. And again, analysts price targets, aren't the be all on the end. All they're directional, but it says that they're starting to get behind it. And when you see analysts starting to maybe stick their neck out a little bit this far in advance of earnings, it suggests that they're probably expecting a good number. Remember, this is a company that's on that application side of AI. So what's on what's under pressure for AI right now is that infrastructure side, uh, how are we going to build it? This is working on the application side. That's not going to go away. And that's where companies are already starting to figure out how can they make AI work for them? That's where, that's what a company like Viva does. All right. Perfect. [00:34:29] Speaker 1: Well, let's stick with the pharmacy, uh, thesis and talk about some biotechs next for you, Chris. We had a lot of different biotech names. There's a long list from somebody talking about a number of these stocks are in phase three trials. I'm just going to pick one of those. There's another stock in the biotech sector too. So LXRX, uh, this is one of the list of stocks that are, have a phase three trials coming up or are in them. So LXRX is one. And then NRXP, this is a company that apparently just passed or finished its, uh, phase three trial. So look at those two next, Chris. Thomas, let's go on to Intel. This one has been an interesting one for sure. [00:35:07] Thomas Hughes: Yes. I think Intel suffered from some, uh, company specific woes amidst the greater AI, you know, stock price pullback. So it's price correction was a little bit exaggerated compared to some other companies, uh, down more than 50% from its highs. Some of those woes were just, uh, spending and negative cashflow, also weak guidance and a projection for a longer than expected slump in PC sales. Uh, that is absolutely a concern for this company. They make a lot of money based on PC sales, uh, but also sets it up for recovery down the road. Um, like with, um, the Qualcomm story, Intel's, uh, strengths has some AI strengths today, but more so down the road when we start putting AI and edge in the computers and PCs today, their story is a lot to do with, uh, the foundry business and semiconductor manufacturing for, uh, for AI data centers in general. Um, some of the news was an explosion at one of their facilities that cost them, you know, hundreds of millions of dollars in revenue played into the, the wheat guidance and just kind of affects the near-term outlook, uh, generally speaking. Um, but within all that, the company is still fairly strong. So the good outlook, we just saw a major price correction. Uh, so expect some price weakness in the near to midterm. Uh, but over time also expect to see, you know, fingers crossed that the company will start to recover from some of these company's specific issues, start to regain some more market confidence and see the stock price, you know, [00:36:39] Speaker 1: begin to move higher again. Yeah. Intel. Again, I keep saying it, it's an interesting story. I just can't believe that just a couple of months ago we were peaking at about 140 on the stock and now we're down below $60 again. Um, and I, I remember talking about Intel earlier this year when it was trading around 35, $40. Um, so it's been a crazy year for Intel. Do you think those moves were based on anything real or do you think that so much of Intel is moving on headlines? Like, um, I guess, I mean, what happened with the explosion that you talked about, that's a real thing. Um, and that's not just moving on a headline, but, um, do you think that the ups and downs that we've seen this year are based on sentiment based on a new theory for the company? I'm just curious what is behind all of the ups and downs on Intel and where does the real story lie here? Um, I think the story is, is in recovery, [00:37:27] Thomas Hughes: but that recovery story has got a lot of headwinds and some issues and hurdles. I think what happened is, uh, earlier this year, the market got real excited about the Intel recovery story, uh, rocketed higher and disconnected, struggled for a little bit of time until we started to see some of those headwinds emerge and then the stock price corrected. Uh, now it looks like we might be back down to a decent buying point. Um, we're showing some support at the long-term moving average. There was, um, a price or a volume spike in conjunction with the price action moving down to that level. Uh, I've also seen the CEO buying some shares recently. Uh, so there are some indications that the stock is viable down at these levels. Uh, but I would want to see some more, more positive signs of improvement and recovery and some bullish triggers before, before getting into the market. All right. Um, very good look at that one. [00:38:19] Speaker 1: Let's look at MOD. This is, I'm assuming a very different sector to look at right now. Yeah. MOD is [00:38:26] Thomas Hughes: another AI stock, but this is an equipment manufacturer. They're making heating and cooling systems. So they're part of the infrastructure build, not part of the actual AI computer itself. Uh, but its headwinds are the fact that costs are rising faster than it is ramping its data center business. It's impacting its profitability and that's being reflected in the stock price. Um, this market may also be near its bottom. Uh, but again, you're going to want to wait for a stronger bullish signal before starting to get into it. Uh, right now the signal that's forming, um, is a bearish Harami, which to me could keep the market either at or near the current lows or even lead to some lower lows. Uh, so this one is theoretically a good stock, but it's got some fundamental headwinds that are keeping the market from wanting to buy in. And you're going to want to wait for those signs to, uh, to improve and for the market to reflect a really clear buying signal. [00:39:22] Speaker 1: Okay. Interesting. Let's do, um, I want to take a look at a couple other charts and, and, and factors on this one. How was their last earnings reports? It looks like they did have a little bit of miss just a couple of weeks ago. Do you think that has anything to do with the price action that we've been seeing again? It had a nice bounce today of 10%, but this downtrend is a little concerning. [00:39:44] Thomas Hughes: All right. So the company is growing well, 35% outperforming on the top line, but missed significantly on the bottom line. So that's just, uh, those margin pressures that I was talking about. And those are the kinds of things that, uh, that keep, um, investors out of a market, uh, stocks like this, um, investors want to see cashflow and to keep the stock price moving higher. That cashflow needs to be improving when it's being impaired. That's an impairment for the stock price action. [00:40:10] Speaker 1: And that's what we see in the, in the chart. All right. Interesting. Let's move on. A lot of different stocks coming up in the chat, a lot of good names to look at. It's hard to pick on which ones to do. Again, a reminder, you can always do super chat. If there's something you really want Chris and Thomas to cover in the last little bit of this live stream, um, super chat's a great way to make sure that I noticed that that that stock above some of the others, but let's do for now, uh, pays is an interesting one. It also reported earnings tonight. So look up P A Y S and then Robinhood. There's been a couple of people recently just asking about Robinhood. So let's take a look at what anything happening there. All right, Chris, talking about some biotech names in these phase three [00:40:48] Chris Marcotch: trials, let's do LXRX. So LXRX, this is a lexicon pharmaceuticals. Um, so we're talking about a company that's, it's got a few drugs in, uh, that are, well, actually it looks like it's only got two drugs in clinical trial. I don't know, actually only one. It's got one drug in clinical trials. It's got three other candidates that are working towards that goal, but it's the, the big bet right now is a drug called, uh, I'm not even gonna try to pronounce it, but it's already approved for heart failure under the name in pefa, I N P E F A. Um, so it's in a, it is, as you just mentioned before we went here, it's, it's in a pivotal phase three study for a hypertrophic cardiomyopathy. It's a disease where the heart muscle thickens and soft and stiffens. Um, so right now the trial, um, it's enrolled about 542 patients. Um, so the main goal is that they, they need to show symptom improvement on a standard patient questionnaire after 26 weeks, they're expecting the first results to come in the first quarter of 2027. One thing that matters here for investors is that they're not going to be first to market. Even if they get through a phase three approvals, um, there's a company called cytokinetics who their drug, um, posted the first ever positive phase three trial in this non-obstructive HCM. And it plans to file for FDA approval this quarter, the quarter that we're in. So again, it's not going to be the first to market. Um, what Lexicon is hoping for is that their product may be considered, um, a simpler to use a more convenient product. Um, so, uh, their hope, the, the, um, Lexicon, their drug has, it's a simple daily pill that patients can take and they can take alongside any existing drugs they're taking. So that's sort of the, the upside. It looks like the company's got plenty of cash to make it to the finish line. Um, so, but this is going to be a binary choice right now. You're, if you're investing in it right now, you're believing that the, that the drug's going to successfully make its way through clinical trials and that it does have this competitive distinction that's going to be able to give it a bigger addressable market. All right. This one's [00:43:19] Speaker 1: interesting. I think, um, I'm, I'm standing on the, uh, analyst forecast because I think if you're an investor and you're just looking at numbers like that, or maybe looking for, for stocks that have a big potential upside, a lot of biotech stocks can often fit that, that bill. And this one looks like it has an upside of over 200% right now, which obviously seems attractive, but a reminder, there's barely any analyst actually covering that. And, um, let's just talk about before we get to the next biotech about the kind of volatility that these kinds of biotechs can see. One thing I saw in the comments earlier that I think it's important to point out, somebody was talking about, um, I can't remember something therapeutics. It's a, it's a biotech we've talked about on the show plenty of times and all the volatility that they've seen in that, where it's gone from 50 to 80 down to 15. Um, the volatility story can be very real, especially in biotechs. Talk about that a little [00:44:06] Chris Marcotch: bit more, Chris. It can be for the reason you were bringing up. It doesn't, it's not even so much that it doesn't have a lot of analyst coverage, but most of these companies don't have a lot of institutional ownership. That's something that's in lexicon's favor. Um, it has about 74% institutional ownership. So it's not, you know, it's not heavily invested. It's only had about $32.4 million invested in the last 12 months, but, uh, buyers outweigh sellers by over four to one. And it's one of those situations where it does. So there is some institutional interest. And when I look at the analyst names, sometimes when you see only five analysts, you're expecting that you're not going to see, um, you're not going to see a lot of heavy hitters, but you're seeing, uh, Tanner Fitzgerald, Citigroup, Piper Sandler, Needham. So it's got some exposure to some very significant names. And again, I think it's because you're looking at what the drug can treat. And I think that's something that analysts are looking at very favorably for the addressable market. [00:45:09] Speaker 1: Yeah. I think that's true too. All right. Let's move on to the next one. Our NRXP, um, did this one [00:45:17] Chris Marcotch: just have that, did it make it through the phase three? Uh, we do not know yet. Um, it's, it is, let's see, the trial was supposed to start in early this year. Um, it slipped since then as of late September. Um, I haven't seen any confirmation that patients had actually been enrolled. And, um, so it, and also it's, it's not a pure phase three trial. It's a phase two slash three trial. That means just means results are likely going to be years away, not, not coming in the next few quarters. Um, and this company has a problem with the fact that it's been burning cash. It's burning about $2.2 million a month. That's a big risk with some of these smaller cap biotechs is that if they don't have a strong cash base and it takes a lot of money to get these, uh, drugs through the clinical trial phase, one feather in this company's cap is that last month they got FDA approval of its preservative free ketamine. So that's going to mean that the company can probably start generating, um, at least, uh, at least a little bit more revenue. Cause right now they're generating virtually none. So if they can, if they can start generating some revenue there, maybe that will help with that, with that, um, with the funding problem, they're having the cash burn grabbing. So, um, you know, both of these are risks. Both of these are smaller names in the, in, in the biotech space, but I understand the attraction. Um, one of the things about the NRX is that the drug that they're, um, the drug that they're working on is it's an FDA approved depression treatment. So they're trying to compress, um, a course of treatment that would normally take weeks of daily sessions into a single day using a robotic system and pairing it with an oral drug. So, um, you know, it's something that, uh, the, the Pentagon is behind this drug, uh, which I think you can imagine because when you're taught, when you're dealing with depression, especially depression, which has suicidal ideation, as this company does, that's something that is dealt with in the military quite a bit. So that, so that is something that goes for this company, but again, we're dealing with companies that are just very small. This is $103 million company. It's just, it's, it's tiny. Yeah. It is [00:47:48] Speaker 1: very small for sure. Okay. Let's go on to, um, a couple of other space stocks, uh, people, I want to have you look at those next, Chris, ASTS and rocket lab RKLB. Um, I'll have you take a look at both of those and, and again, just do an overall view of the space sector. Um, Thomas, we're going to get to your stocks in just a second, but I want to remind people about our sponsor for a live stream. Again, we're excited to actually have a sponsor this time. And if you didn't, uh, take a look at this earlier, go ahead and scan the QR code. We're going to put the link in the chat one more time. This is a way to download a free investor's guide to learn about investing in gold and silver. Again, we talk about stocks all of the time. There was a couple of questions in here about whether you should invest in gold or gold miners right now. I saw that in the chat today. Well, this is a great way to look at how to invest in gold or silver or investing in a precious metals IRA. If you've never invested there before, or even if you've just dipped your toes and want to learn a little bit more about diversifying your investments through gold and silver, the U S gold Bureau is a great place to do that. You can again, scan the QR code or click the link down below. There's also a phone number you can call if you prefer that, and you can get your free investor's guide that breaks down all the potential benefits of diversifying with gold and silver. So you know exactly what you're getting into kind of like our Chris and Thomas, they'll, they'll, they'll break it down for you just like these guys do. And again, thank you to us gold Bureau for sponsoring the live stream today. Okay, Thomas, let's get on to pays. Apparently they just reported today. [00:49:17] Thomas Hughes: Okay. They did. Uh, pay sign is an interesting company. They're handling a lot of card services for some businesses in, uh, like pharma and healthcare. Uh, these are kind of, um, like prepaid cards and reward cards. Uh, so some of the things going for them are strong growth, outperformance, um, a robust balance sheet and profits and the profitability I think is real key here. This is a, a small cap stock, uh, borderline micro cap, and it's producing profits. Um, it's got, um, sufficient analyst coverage to, uh, have some conviction in the outlook. And, uh, I think they've been bullish on what I've been seeing. Let me double check that real fast. Um, but it looks like this company is fundamentally sound. It's just a small and kind of unusual fringe company. Uh, but what matters is that it has cashflow, what's producing profits. And that's what ultimately drives value for shareholders, uh, the kind of value that sticks. Let's see. Um, analysts say call it a buy a unanimous interest. We've got, um, you know, 25% institutional ownership. That's not really a whole lot, but it's a fair amount for such a small company. Uh, so there is some conviction in this one. Um, it's going to be volatile because of how small it is. Uh, but it does look like a growing growth company with a bullish fundamental outlook. Yeah, this is interesting. I don't think [00:50:54] Speaker 1: I've seen this one before, um, show up on the channel. Um, also just looking at their earnings report really quick here, Thomas, it looks like they had a decent earnings report that, um, that just came out today. I know you covered that at the beginning. Um, is this big enough for you? Um, do you think that there's good upside potential in a company like this? Again, the upside from analysts isn't huge. Is it worth, um, investors looking into it? Is there a good potential market? [00:51:18] Thomas Hughes: Um, it, it seems like it's a good market and I don't think they have too much competition. So this just could be one of those companies that quietly, you know, reaped its cash flow, you know, on the periphery of the market for an indefinite period. Um, it also looks like it could be a takeover target. Some other company that does fentec financial services, healthcare services may want to buy this company to acquire that growth, to acquire that cash flow. So I think that there is, um, multiple opportunities here. Uh, it just depends on how you want to play it. [00:51:48] Speaker 1: Okay. Interesting. I'm also looking at how much it's grown in the last year. And this has been a really explosive stock for people. So if anybody owned pays, uh, at the start of the year in the spring around, uh, around the couple of dollar mark, uh, let me know in the comments, have you had a really good payday on pays? I'd love to hear from people. That's interesting. Um, okay, let's get to hood. A lot of people want to hear about this company. Have they had their earnings yet? [00:52:15] Thomas Hughes: Oh, hang on. Um, I don't think so. I was looking at pays did a little bit on hood. Um, [00:52:25] Speaker 1: yeah, the chart, the chart's a little ugly for sure. Looking at it. [00:52:29] Thomas Hughes: Yeah. They report into last month. They missed top and bottom lines. They are producing growth, but they're slowing. That's never good for a company. It looks like earnings fell from last year. Um, they produce some losses. So, I mean, not knowing too much about the long-term outlook. They're forecasting growth, but it looks like the growth is not as strong as people wanted. It's been slowing. So, to me, that is a headwind for the market. Uh, look at the valuation. And it's got a high valuation. We're trading 39 times current year earnings. So, we still have a growth outlook that's going to support upward, you know, price momentum, but with, uh, sluggish growth, slowing growth upside is going to be limited with that price multiple, um, execution is going to be key. So, any hiccups or hurdles will be reflected in the stock price with a sell-off. But then, contrary to that, the long-term outlook is pretty robust. We're looking at a 7X multiple in 10 years. So, provided that we have execution, the company is able to grow into its outlook, um, investors will be rewarded. It's just a matter of holding on to the stock for some time and being prepared for some volatility. [00:53:47] Speaker 1: All right. Yeah, I think that's it. That's a good, good advice. Be prepared for volatility, uh, is the name of the game in a lot of these. Um, I think what you said about the, the valuation is important to keep in mind. Robinhood is a stock that so many people get excited about, but the valuation is a real deal. Um, also just looking at this chart, not a great story, not a great story for this company at all. And it really hasn't been for most of this year to, to be honest. So, that's a story for hood. Um, I'm, people always ask about this one too. So, I know it's a stock that a lot of people follow and continue, will continue to follow it too. Um, okay. So, that's the last for you too. Let me get you, um, maybe one more stock to cover and that is, oh gosh, what are we going to do? Let's do, um, if you can find it, um, somebody asked a couple of times and I heard more than one person ask about in the gaming sector company called Take Two. Do you know Take Two stock? I do. All right. Take a look at that one really quick. All right. All right. And Chris, let's get to space. Uh, ASTS, one of my favorite concepts. How's the stock doing? Up 14% today. I like it. [00:54:57] Chris Marcotch: It's up 14% today, but that doesn't include what's, and it's holding onto those gains. It looks a little bit in the after hours, but it didn't, uh, both ASTS and Rocket Lab, which you asked me to do, they both reported earnings today, right? As we, as we've been on. So ASTS missed on the top line. Uh, they came in with 42.3 billion. That's a little light. Uh, you know, we're expecting 46 million. Um, let's see. In May, the company targeted about 45 satellites in orbit during 2026, but that new target for that number is mid 2027. Um, let's see. Uh, it's last week it announced black lift, which is it's partially reusable rocket with firefly engines. They, they, that's targeting a late 2028 debut, um, stocks down, you know, as, as we've been seeing it, it's down pretty significantly, uh, 50, almost 50% year to date. And that's part of the general, I think space issue here, but, um, you know, AST has a window right now, uh, for both of these companies, they're kind of start, uh, SpaceX is an issue. It's probably more of an issue with ASTS, but they've got some, some contracts lined up right now, which is great. Um, but you know, they've probably got until about the end of 2028 or middle of 2028 when, um, when Starlink's broadband comes online. [00:56:33] Speaker 1: All right. Very good. Let's go to, um, uh, I'm sorry. I want to go to, um, rocket lab too, just to see, did anything else come out in their earnings? One thing that I noticed when I was looking at ASTS was that their earnings was a big miss and that they've got a new earnings report coming up. So their last one back in August was, it was a pretty big miss. Um, do you think that there's a lot riding on earnings or does everybody just understand these are pre-revenue companies? They're, they're working at a loss right now. What do you think about that? Is there as much [00:57:02] Chris Marcotch: pressure on an earnings report? Um, not, not for earnings per share, but definitely for revenue. I mean, yeah, everybody understands these companies are going to be, they're not going to be profitable right away. Um, rocket lab growing earnings in that trend. It looks like, um, from what I'm seeing, that trend continued this quarter, they, they came in with 267.83 million, which basically was just a shade above where the expectation was. And it's, um, it's significantly higher on a year over year basis. Um, the quarterly loss in terms of adjusted earnings per share was about 12 cents per share. That's significantly higher than the 3 cents where it was. I'm not that worried about that. Um, I think what the company, um, the company did announce is that I, uh, let's see, uh, where did I have that note? Customers signed more than $515 million in neutron contracts last quarter. That's what they announced in their earnings report today. That takes its backlog to 16 missions before the first neutron rocket has ever flown. And as we've talked about in the channel before, neutron is the company's larger payload rocket that they haven't, that they haven't, um, started launching yet. But the fact that now you've got a bigger backlog for this is raising the revenue and the earnings outlook for them. [00:58:32] Speaker 1: Okay. Interesting. All right. We've got to get one more in. Let's do on this for you, Chris, really quick. I know we're getting towards the wire here, but ONDS, uh, do a quick look at that one. Thomas, we're going to look at yours next, which is take two. What's the ticker for that? [00:58:45] Thomas Hughes: That's TTWO. So they just reported earnings. And they had a miss. They missed on the top or a mix. It was mixed results. They missed on the top line. They beat on the bottom line. Gap results was a loss. It was not good. Uh, but the real story is anticipation for a new release. Grand theft auto six is coming out and I think it starts downloading or being reload preloaded onto devices like this weekend tonight, this weekend. And then next week it'll be, it'll be available for play. But what they reported today was a record setting pre-orders, uh, over 750 million in sales already, setting the company up for multi-year booking strength. Uh, execs forecasted, uh, one of the strongest years ever. Uh, so we're looking for very bullish results. Uh, but this is a catalyst that's unfolding now. The results didn't really provide the catalyst. It'll come in the next report. Uh, so price action could be mixed between now and then. Um, it looks like the uptrend is intact. The market may drift up to the 240, 260 region, uh, before the next results. Uh, but assuming the next results are good, I would think this stock would continue moving higher and set new highs. Interesting. Yeah. That earnings call is underway [01:00:03] Speaker 1: right now. For those of you who are interested, you can listen in on those earnings calls on market beats website. Um, that is quite a big miss though. Um, but it's interesting in extended training right now, it seems to be going up in extended trading. What do you think about that, Thomas? Uh, let's see. It looks like it's up about 4% in extended hours. That's, that's not the rear [01:00:24] Thomas Hughes: looking action. That's the forward looking action. We're not concerned so much with what happened in the past quarter because we knew it was going to be weak. They don't have, you know, fresh titles. Uh, this market reaction is looking forward to the grand theft auto release. Uh, these pre-order figures are pointing to some strength, uh, which is what the company needs to, to, to see what the investors want to see. Uh, so like I said, I think the market could drift higher over the next few weeks, two to three months. Uh, but we're really going to be waiting for that next report, uh, to really trigger, uh, what this market can do. And assuming we get a good report based on these pre-orders, uh, I see, I see new, new highs for the stock. Awesome. Thank you for that. Let's take one [01:01:05] Speaker 1: last look at Ondas, O-N-D-S. Uh, Thomas, feel free to chime in on this one too. This one, I can't believe we're trading at, uh, still under $6 even after it bounced 11%. This stock was up much higher [01:01:17] Chris Marcotch: than this not long ago. Well, investors are concerned because the company's been growing, but a lot of that growth has been coming through acquisition. So it, the it's full year revenue guidance, by the way, they report earnings. I think it's Thursday of this week. Um, and they've posted full year revenue guys to 525, 550 million, which sounds impressive because it's like more than 10 times their 2025 revenue. But again, a lot of that growth has been coming through acquisition. And so now investors are kind of, uh, okay, are you, what's going to happen? Are we going to be able to convert that revenue and, and turn this into a profitable company, which it's not? Um, obviously you're going to have the, you, you've got weighing on this company as it's, it does a lot of business with the defense industry. And we're still, uh, we're still, we're going to be going through endless, uh, round of probably negotiation of, as far as how the Pentagon budget's going to get approved. Certainly on this would stand to benefit from some of that because they are in that area of the drone, the autonomous drones, that that's where the Pentagon wants to move in terms of future growth. But who knows when that's going to actually get approved. So, uh, big, big news for the company would be that they've got the earnings report this week. Investors would probably want to be hearing a lot [01:02:37] Speaker 1: more than yeah. So interesting. Again, this is more of that sector wide story of the whole drone sector kind of struggling right now. One thing that I noticed, you look at the analyst forecast on this one, there's a ton of upside. And if you look at any drone stock right now, we've talked about red, red, red cat and Kratos and lots of other names that were very, very bullish on early at the start of the year. They're all down significantly, but the analysts are still very bullish. And if you're looking at on this and what the analysts say, we've got new buy ratings from Goldman Sachs and Citigroup in the last month, um, other buy ratings have it at 15, 19, over $20. Um, so there's a lot of bullishness on this company. We just haven't seen it play out yet. So is there any hope that it could, could this earnings be a turning point at all, Chris? [01:03:20] Chris Marcotch: I, it can be, but I'm going to be, I think I'm going to be very realistic. I think some of those expectations are based on the fact that stock has 44% short interest. Yes. So if they, if they come up with any sort of good news on this, on this earnings report, you could see a bounce come in because of short positions that have to cover because the stock's been, so that's been, so, uh, it's been beaten down here. I mean, it's, it's down to what, over 38% year to date. Uh, so yeah, I mean, if, if it, if, if you, if it delivers strong earnings, you could see short positions have to cover 44%. That's, that's not the reason to buy the stock. I think the reason to buy the stock is the industry it's in and the belief that once we do get a final verdict on the Pentagon funding on this should be a benefactor of that. Yeah. All right, guys, thank you so much for [01:04:09] Speaker 1: staying a little bit late today. I'm going to keep you even later because I have a burning question. So many people keep chiming in asking about Jensen. We're all still concerned about the NVIDIA news. Um, do you think this time next week when we're back here for our live stream next week, there could be some further developments in that NVIDIA story? Well, there will probably be further developments, [01:04:28] Thomas Hughes: but to touch base back to what Chris was saying, I don't think Jensen Huang is going to get fired. There's no way they could do it. AI comes from him. He's the, he's, he's the source of it. He's the source of the, of the, of the GPUs and the technology and the ecosystem construction. Um, if they pull him out, somebody can step in and continue the work, but it won't be the same. Um, so don't expect him to be cut out of his position. Uh, but be ready for some volatility. Yeah. Anything you're watching Chris [01:04:58] Chris Marcotch: between now and next week? No, I, I think to me, to be honest with you, by this time next week, the story's probably going to quiet down a little bit, because I think again, you've heard the news. The news is the news. The news isn't going to change in a week. And now it's really just a question of it's we've, they've got to go through the whole discovery process about what, what, what was revealed, when was it revealed and all that. And it's just, it's, it's just going to be a mess, but Jensen's in place. He's going to be in place. I think he'll be a lot quieter and that might be as good for the, [01:05:29] Speaker 1: that might be good for the AI trade overall. Yeah. Thank you guys so much for weighing in on that. And thank you everyone for joining us live every week. We love our audience here. We had a couple of new viewers today from all around the world. Thank you all for joining us. And as always, happy investing. We'll see you right here next week again at Market Close.