Reality has become so bizarre that I can not even attempt to create fiction which will surpass the equity markets, our government, and those promoting the nonsense they offer on a daily basis.
As the Mag 7 continue their circle jerk financing, the average American continues to believe they can beat the experts and speculate in garbage stocks and companies that make no money and produce no viable product.
Yet here we are.
Potentially near a very major market inflection point and the bullcrap gambling on trash continues.
Consider tonight’s example:
A $116 million dollar market cap stock
That traded 753 million shares today to become the most active NASDAQ stock
That has -1.58 earnings per share
And in one day advanced 368.57%
This after a recent one day move of 550%
But it’s not a bubble if one watches financial television.
But why did this stock advance so dramatically, over 500% in one day?
Because as an unprofitable biotech firm it needed some flare and they decided to do what to become a speculator magnet?
By transforming this biotech company into a “digital asset treasury company” that focuses on transactions using ZCcash, a no-name cryptocurrency pushed by guess who (from TheStreet via YahooFinance):
Winklevoss-backed stock halted multiple times after wild 550% rally
Excerpt:
Following the investment, Leap Therapeutics is going to transform into a crypto treasury firm called Cypherpunk Technologies Inc. and focus on accumulating Zcash’s native coin, ZEC.
So a money losing stock provided with funding from the brothers who lost to the geek Zuckerberg to pump up a garbage biotech firm into a “crypto treasury company” to accumulate a no-name cryptocurrency is now leading the charge on the NASDAQ.
This is not 2000 .com vibes boys and girls.
It’s late stage 1929 vibes.
Your mileage might vary.
