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📉 Down Goes Frazier

📉 Down Goes Frazier

So does $DJT, the overall market, and my golf game. But at least summer's here, right?

Charla Hojnacki
May 31, 2024

Happy Friday Zingernation! It’s that time of the year when I accept the fact that my baseball team won’t be winning the World Series, this won’t be the summer I break 80 on the golf course and the only way I’m getting that six-pack I wanted is if I hit the beer aisle at the grocery store. But hey, at least I might be able to afford a house someday after all.

—Aaron Bry & Nic Chahine

Plus, check out the company aiming to reshape the way we age.

MARKET SNAPSHOT

Yesterday: Another red day? Weaker-than-expected economic data brought stocks lower, despite treasury yields dropping, indicating future rate cuts are more likely.

On Our Radar: PCE day! The Fed’s favorite measure of inflation came out this morning at 8:30 AM ET. Time to play a good ol’ fashioned game of ‘hot or not.’

TOP STORY

Trump Found Guilty On All 34 Counts In Hush Money Criminal Trial

Basically: The multi-week criminal trial against former President Donald Trump has come to an end with a guilty verdict on 34 charges of falsified business records.

Some Context: After weeks of jury selection and 22 witnesses testifying on behalf of the prosecution and defense, the jury reached a verdict yesterday, as reported by NBC News.

Some Details: Closing arguments in the trial presented on Tuesday centered on Trump's former lawyer Michael Cohen, who testified in the case. The prosecution told the jury that Cohen and key witness Stormy Daniels may not be perfect people, but they could help corroborate how Trump knowingly was involved in falsifying business records ahead of the 2016 presidential election.

What’s Next: With a guilty verdict on all counts by the jury, Trump's team will likely appeal the verdict. Trump is unlikely to receive prison time due to having no criminal record.

The Price Action: $DJT shares traded at $46.50, down 11% in after-hours trading yesterday. The media company, which was co-founded by Trump, has been heavily volatile during the criminal trial proceedings.

Click here to read more.

PRESENTED BY TELOMIR

Anti-Aging In A Pill? Telomir Pharmaceuticals May Have The Answer With Its Telomeres Regeneration Therapy

Everyone wants to live healthier and longer lives. Longevity research leader Telomir Pharmaceuticals ($TELO) has a solution that could help — and it’s as simple as changing shoelaces.

Telomeres are protective caps found at the ends of our chromosomes, akin to the plastic tips on shoelaces that prevent fraying. With each cell division, these telomeres gradually shorten, a major contributor to the aging process.

To fight this, Telomir is testing its unique and innovative Telomir-1, the first and only age-reversal technology with the key to extending telomeres and reversing the negative effects of aging. As a non-toxic oral therapy, Telomir-1 offers a safe, patient-friendly alternative to existing treatments, ensuring maximum efficacy with minimal side effects.

Early preclinical studies indicate Telomir’s potential efficacy in telomere elongation and age reversal, and its addressable market exceeds $7.4 billion worldwide, positioning $TELO for unprecedented success.

With more milestones on the horizon, Telomir Pharmaceuticals is on the brink of a medical revolution. Join us in our quest to unlock the secrets of age reversal and transform lives around the world.

Invest in Telomir Pharmaceuticals today and be a part of history in the making!

And learn more about this revolutionary technology in our exclusive article: From Pets To Humans, Telomir Pharmaceuticals (NASDAQ: TELO) May Hold The Key To Extending Life, Reversing Aging

Disclosure: Not investment advice. Do your own due diligence. Investing involves risk.

FIVE ZINGERS

MongoDownBad: MongoDB’s stock got hammered yesterday after the developer data platform reported worse-than-expected earnings.

Who’s Who Of Coups: Sam Altman got fired (then rehired) by OpenAI. But he’s not the only founder to get fired from their own company.

Clash Of The Titans: NVIDIA CEO Jensen Huang, AMD CEO Lisa Su and more will convene at a tech fest in Taiwan. Here’s what you need to know.

Getting Technical: Waiting for Bitcoin to break out above $69k? Here’s what the technical analysts are saying about the king of crypto.

Can I Have This Dance? Paramount shares traded higher yesterday as the company’s board prepares to review an acquisition offer from Skydance Media.

ONE FOR THE ROAD

Bill Ackman Plans To Take Pershing Square Public By 2025, Following $10.5B Valuation Deal

Briefly: Bill Ackman is preparing to take his hedge-fund firm, Pershing Square, public by next year.

So Basically: Ackman is selling a stake in Pershing Square to investors in a funding round, valuing the firm at approximately $10.5 billion. The deal is expected to close soon.

So Then: The firm plans to attract billions more in assets, primarily holding a concentrated portfolio of undervalued large company stocks, including Chipotle Mexican Grill and Universal Music Group.

So What: Public listings of hedge funds are rare, especially after the 2008-09 financial crisis. Ackman aims to take Pershing Square public by late 2025 or early 2026. The firm has been transforming into an asset manager with durable capital, moving away from its activist roots.

What Next: Half of the $1 billion raised in the pre-IPO round will be invested in Pershing Square USA, expected to launch soon.

Click here to read more.