Market Commentary / Industry / Investing News

#DeletePayPal, It May Cost You Otherwise

This Newsletter is brought to you by…

Source: technical420

Cardiol Therapeutics (Nasdaq: CRDL) (TSXV: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapy for the treatment of cardiovascular disease (“CVD”).

Recently, Cardiol provided some promising results regarding its lead product candidate CardiolRX™:

🧬 The study results showed that the active pharmaceutical ingredient (API) in CardiolRx inhibits and promotes the reversal of mechanisms found in fibrotic cardiovascular disease.

💪 The authors concluded that CardiolRx protects cardiac function and exhibits an anti-fibrotic effect.

❤️ Cardiol’s Chief Medical Officer, Dr. Andrew Hamer explained, “These results, together with previously reported pre-clinical in vivo data demonstrating the anti-inflammatory activity, underpin our plan to advance the development of a novel subcutaneous formulation of CardiolRx™ for use in heart failure.”

If you are curious to learn more about Cardiol Therapeutics, check out its Investor Relations page by clicking the link.

A Quick Market Recap

What the F&%#! Inflation!

To many investors’ dismay, the US’s monthly CPI report came in hotter than expected with inflation hitting 8.2% in September.

Although this is a modest decline of 10 basis points from August’s 8.3%, this is far from the Federal Reserve’s goal of 2%.

Not only that but core inflation, which excludes food and energy, returned to a four-decade high, accelerating to a 6.6% and 0.6% jump from the previous month.

With the devaluing of the US dollar as potent as ever, most analysts are expecting one thing…

Another 75 basis point rate hike.

To add to the pain, a US 30-year fixed mortgage is now at 7.04%, a 20-year high.

When will the madness end?!

Here is how major indexes performed this week:

🚨 If you enjoy our newsletter, please like & share so that we may deliver more value to our investment community. Thank you for your continued Support!


Top News

PayPal ($PYPL) tanks over policy disaster

Ooof, this did not go according to plan.

In a recent policy update, the payment system company, PayPal sought to fine consumers $2,500 who “sent, posted, or published any content promoting misinformation or presented a risk to user safety or wellbeing.”

❌ Upon the news, Google searches for “how to cancel PayPal”, “cancel PayPal account”, “delete PayPal account”, and “how do I delete a PayPal account”, surged after the company update was discovered by users.

💥 For example, Google searches for “delete PayPal” spiked 1,392% after the acceptable use policy (AUP) announcement and the company’s subsequent apology.

🤬 In addition, “BoycottPayPal” was trending on Twitter with figures like Elon Musk, David Marcus (former PayPal president), and Congresswoman Lauren Boebert commenting on the matter.

😅 A PayPal spokesperson clarified that, “PayPal [will] not fine people for misinformation, and the language was never intended to be inserted into our policy,” and that the updated policy was published in error.

📉 $PYPL is down 10.30% this week, trading at a P/E of 46.79, and a market cap of $93.61 billion.

Source: STAT News

Moderna ($MRNA) and Merck ($MRK) join forces to develop a cancer vaccine

This may be the best combo since peanut butter and jelly!

With two of the biggest biotech companies focusing their efforts on tackling cancer, it is exciting to see what becomes of this life-changing vaccine.

🧪 Moderna’s messenger RNA vaccine is being studied in combination with Merck’s Keytruda to treat patients with high-risk melanoma, the deadliest form of skin cancer, in a phase two trial.

🧫 Moderna’s vaccine is designed to deploy killer T cells that target the specific mutations of a patient’s tumor, while Merck’s Keytruda is a monoclonal antibody, that prevents certain cell proteins from stopping T cells from going on the attack.

🤝 Both companies originally entered the agreement in 2016, but Merck is now exercising its option through a $250 million payment to Moderna.

💊 Currently, Moderna’s only commercially available product is its Covid vaccine which is expected to generate $21 billion in sales this year; the Company is under pressure from shareholders to demonstrate its messenger RNA technology against other diseases.

🔬 Merck’s Keytruda is its biggest drug, making up $5.1 billion (35%) of its Q2 sales.

🚨 Hey there! We just dropped an article on one of the best small-cap biotech stocks available in the market. Check it out here.

Beyond Meat ($BYND) to cut 19% of its workforce

It has been a wild ride for the once-beloved plant-based food company, Beyond Meat.

With major drama happening at its executive level and slowing demand due to high inflation and a contracting economy, the business is searching for something positive, and fast!

🍔 In a regulatory filing released this morning, Beyond Meat announced that it intends to cut 19% of its workforce, about 200 employees.

🌯 The cuts will be completed by the end of this year and are an effort to achieve cash flow-positive operations by H2, 2023.

🥗 The plant-based foods company has yet to reach positive cash flows in its six-year tenure as a publicly traded company, losing $416.6 million TTM.

🍕 Beyond Meat also revealed that multiple executives are leaving the company including COO, Doug Ramsey (arrested for allegedly biting a man’s nose), Chief Growth Officer, Deanna Jurgens (as part of the broader layoffs), and CFO, Phillip Hardin (pursuing another opportunity).

🍟 $BYND is down 79.33% YTD and is trading at a market cap of $857.73 million. 

🚨 See what our IG community had to say!


The longest bear market lasted 33 months

As we are now in the midst of a bear market and a technical recession, here is a look at history’s longest bear markets and their economic landscapes.

For context, today’s bear market first began on June 13, 2022, when the S&P 500 fell more than 20% from its peak in January.

As we stand, the Bear Market Length is 4 months, Peak US Unemployment was 3.7% in August, and the S&P 500 is down 25.07% from its high of 4796.56 points.

Here are the Top 5 longest bear markets:

Sep 1929 to Jun 1932

1. When: Sep 1929 to Jun 1932; Length: 33 months; S&P Start: 32; S&P End: 4; Change: -86%

2. When: Mar 2000 to Oct 2002; Length: 31 months; S&P Start: 1553; S&P End: 769; Change: -51%

3. When: Nov 1980 to Aug 1982; Length: 22 months; S&P Start: 142; S&P End: 102; Change: -28%

4. When: Jan 1973 to Oct 1974; Length: 21 months; S&P Start: 122; S&P End: 61; Change: -50%

5. When: Jul 1933 to Mar 1935; Length: 20 months; S&P Start: 12; S&P End: 8; Change: -34%

How long will the bear market last?






We are not brokers, investment, or financial advisers; you should not rely on the information herein as investment advice. If you are seeking personalized investment advice, please contact a qualified and registered broker, investment adviser, or financial adviser. You should not make any investment decisions based on our communications. Our stock profiles are intended to highlight certain companies for YOUR further investigation; they are NOT recommendations. The securities issued by the companies we profile should be considered high risk and, if you do invest, you may lose your entire investment. Please do your own research before investing, including reading the companies’ public filings, press releases, and risk disclosures. The company provided information in this profile, extracted from public filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it. The commentary and opinions in this article are our own, so please do your own research.
Copyright © 2023 Edge Investments, All rights reserved.

Leave a Comment

Get 30+ hours of analyst research directly in your inbox weekly. Sign-up today to stay on top of the market.