Why LUNA Crashed 99.99999999999%
Are stablecoins even stable anymore?
That’s the question many crypto investors are asking right now.
Stablecoins have been in the news this week due to the blowup in the UST coin.
The LUNA crypto plunged from over $100 to less than a penny.
That’s a 99.99999999999% crash!
In today’s video, I explain what’s going on with stablecoins right now.
(If you’d prefer to read a transcript, click here.)
Editor, Strategic Fortunes
From open till noon Eastern time.
Veru Inc. (Nasdaq: VERU) is a biopharmaceutical company that primarily focuses on developing medicines for the management of cancers. The stock jumped 41% after analysts at Jeffries raised their price target on the stock citing a favorable response from the FDA regrading Veru’s COVID-19 therapy.
Inotiv Inc. (Nasdaq: NOTV) provides drug discovery and development services to the pharmaceutical, chemical and medical device industries. The stock rose 40% after the company reported second-quarter results and raised its full-year outlook thanks to its recent acquisitions.
Duolingo Inc. (Nasdaq: DUOL) develops and operates a language-learning website and mobile app with courses on over 40 different languages. It is up 36% after reporting strong first-quarter results and raising its guidance thanks to record bookings and accelerating user growth.
Filo Mining Corp. (OTC: FLMMF) engages in the acquisition, exploration and development of mineral properties in South America. The stock climbed up 34% after it revealed that it is expanding its exploration and mining operations thanks to recent funding from the BHP Group.
Payoneer Global Inc. (Nasdaq: PAYO) operates a payments technology and commerce-enabling platform that facilitates marketplaces and serves online-merchants. The stock is up 33% after it delivered results on a great first-quarter that was driven by strong customer acquisitions.
Indie Semiconductor Inc. (Nasdaq: INDI) provides automotive semiconductors and software solutions for advanced driver assistance systems. The stock rose 32% after several analysts upgraded the stock and raised its price target following its first-quarter report.
Expensify Inc. (Nasdaq: EXFY) provides a cloud-based expense management software platform for individuals, small businesses and corporations. It is up 31% after the company exceeded expectations for the first quarter and announced a share repurchase program.
Amyris Inc. (Nasdaq: AMRS) is a synthetic biotechnology company that operates in the clean health, beauty, flavors and fragrance markets. The stock is up 31% on a rebound following a sharp sell-off earlier in the week when it reported results for the first quarter.
Viridian Therapeutics Inc. (Nasdaq: VRDN) is a biotechnology company that develops treatments for patients suffering from various serious diseases. The stock rose 27% after the company reported first-quarter results and shared positive updates from its ongoing drug trials.
Affirm Holdings Inc. (Nasdaq: AFRM) operates a platform for digital and mobile-first commerce. It is up 27% after it reported better-than-expected third-quarter results that finally started to show the benefits of the deals it struck with Amazon and Shopify last year.
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.