“If things are not what they seem – and we are forever reminded that this is the case – then it must also be observed that enough of us ignore this truth to keep the world from collapsing.” – Thomas Ligotti, Author
A deep quote to start a Friday show, but maybe an appropriate thought when analyzing the latest happening in today’s markets.
Cryptocurrencies hit all-time highs again off the back of a Bitcoin (BTC) ETF going public. The ProShares Bitcoin Strategy ETF (BITO) rose almost 5% to close at $41.94 in its debut. The fund tracks CME bitcoin futures, or contracts speculating on the future price of bitcoin, rather than the crypto itself. The questions behind the tangibility and confidence of bitcoin still trouble many, while speculators and Millenials have made millions acting on that doubt.
The Fed banned top officials from investing activities as it has been proven senior policymakers are actively trading securities they can influence. Clearly this sparked an ethics uproar and highlights a tier divided system of market manipulation and insider trading.
When it comes to listening to a companies investment thesis, it is important to always dive deeper than the narrative. A companies capital structure usually tells the story as to why a great-sounding company, with a great product, can never get off the ground when looking at its price action. Do your due diligence.
So what is as it seems? The realness and truthfulness of the Midas Letter RAW show and the three interviews we have on deck today:
NuRAN is a leading mobile and broadband wireless infrastructure solutions supplier. The company is changing people’s lives by providing connectivity to the most remote places on the planet. NuRAN is bridging the digital divide while disrupting the network-as-a-service (NaaS) billion-dollar industry with its recurring revenue model. NuRAN’s first site in partnership with Orange S.A. (NYSE:ORAN) went live in Cameroon recently and generated a 46% penetration rate on its first day – almost 100% higher than estimates. The company also announced it is now debt-free, which should help them secure more contracts with Tier 1 telecom companies and commercial banks in the future.
Real Luck Group is a pure-play esports betting company that offers real-money betting, live streams, and statistics on esports and most traditional sports. Thomas Rosander was promoted from Chief Customer Officer to CEO this quarter and has guided the company to be shortlisted for two EGR Marketing and Innovation Awards. In addition, Real Luck Group has added wagering to its platform, wagering added to Luckbox platform, built an in-house content marketing studio, and is currently exploring further licensing opportunities.
Eat Beyond has capitalized on the growth of the alternative-meat market. The company has been focusing on investing in companies that will deliver access to the best future food opportunities. With new CEO Michael Aucoin at the helm, EATS will now narrow its focus on technical innovation, research, and investments in capacity-building projects. A couple of its portfolio companies have gone public themselves, and some companies have come out with big news regarding the distribution of their products.
Original article: Things Aren’t What They Seem | Midas Letter RAW ft NUR, EATS, LUCK
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