Author:

Big Tech has been profiting from your phone ⋆

🌿 THE RESPONSIBLE INVESTING

Sustainable Wealth Brief

RESPONSIBLE RETURNS FOR SERIOUS INVESTORS

💡 DID YOU KNOW?

The global smartphone user base is projected to reach 7.7 billion by 2028, transforming mobile devices into the primary gateway for digital inclusion and economic participation.

⚡ SPECIAL BRIEF — THE RISE OF THE ‘EARN ECONOMY’ AND DIGITAL INCLUSIONEvery time you open your phone…

Someone makes money.

Your scrolling.
Your attention.
Your screen time.

For years, Big Tech kept all the profits.

But now a company called Mode Mobile is flipping the model.

Instead of letting tech giants monetize your phone use…

Mode built technology that pays users directly.

And the idea is spreading quickly.

Already:

50M+ users
$1B in Earnings and Savings
32,481% revenue growth
$115M in revenue and $11.8M as EBITDA

That’s why investors are watching the company closely.

Because Mode Mobile plans to potentially go public and has already secured the $MODE ticker on Nasdaq.

Right now investors can buy pre-IPO shares for just $0.50.

Which is exactly the stage where companies like Airbnb created life-changing returns for early investors.

(Some investors may also qualify for up to 20% bonus shares.)

👉 Click here to see how Mode Mobile works

P.S. Airbnb turned spare homes into income.
Mode Mobile is turning 30+ hours of weekly screen time into profit.

And early investors are getting in before any potential IPO.Please read the offering circular and related risks atinvest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.

Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.

Pro forma revenue and EBITDA, includes full year numbers of the businesses acquired throughout 2025.

Richard Nolan

Senior Editor, The Responsible Investing

EDITOR’S TAKE

“The transition from passive consumption to active digital participation marks a fundamental shift in the social contract of the mobile era. For the responsible investor, this represents the ‘S’ in ESG through the lens of digital inclusion and economic empowerment. As platforms evolve to share value with their user base, we are witnessing the emergence of a more equitable digital ecosystem.”

🕰 THIS DAY IN FINANCIAL HISTORY

APRIL 29, 2004 — 22 YEARS AGO TODAY

Google filed for its historic initial public offering, a moment that redefined the valuation of digital attention and data. This milestone underscored the immense economic power of the search and attention economy—a dynamic that is now being further disrupted by decentralized models that prioritize user-side value.

👁 WHAT WE’RE WATCHING THIS WEEK

$MODE

Mode Mobile — monitoring the pre-IPO trajectory and Nasdaq ticker reservation as a signal for the ‘Earn Economy’s’ institutional arrival.

AAPL

Apple Inc. — tracking the evolution of mobile ecosystem policies and the integration of decentralized value-sharing applications.

ESGU

iShares ESG Aware — monitoring the inclusion of connectivity and digital-inclusion leaders as key social (‘S’) metric drivers.

Not investment advice. For informational purposes only.

A NOTE FROM EDITOR

Occasionally, an opportunity comes to our attention at The Responsible Investing we believe readers like you will find valuable. The message above from one of our partners is one we believe you should take a close look at.

🌿 THE RESPONSIBLE INVESTING

Got questions? Connect with our Support Team.

DISCLAIMER: The information provided in this newsletter is for informational purposes only and does not constitute financial, investment, or legal advice. Investing in ESG and clean energy sectors involves risk. Always consult with a qualified financial advisor before making investment decisions. Market data may be delayed.

RJ Hamster

Amid Market Uncertainty, One Signal Just Stood Out

Dear Reader,

Markets are in flux again, tech volatility, geopolitical headlines, and shifting rate expectations have people questioning what’s next.

But while most eyes are on the noise, one of our repeatable signals just triggered — quietly — on a small-cap name that fits a pattern we’ve seen before major market pivots.

At Trading Ideas, we track these signals because they often emerge when confidence is low and opportunity feels hidden.

This latest setup isn’t about hype, it’s about timing, data, and a pattern that’s now flashing across our models.

We’ve released the full details, including the company nameand what the signal means — in a free alert briefing for subscribers.

Access the Full Report + Real-Time Alert

When markets turn chaotic, clarity is rare. This signal just gave us some.

Stay ahead,

Dean Knightly, Editor

Trading Ideas

*We encourage readers to perform their own research and due diligence on any information we provide.

*By clicking the links above you are opting in to receive email communication from Trading Ideas.Advertising Disclosure: This email contains paid advertisements. This email is from our associates at Trading Ideas.

Legal Entity Information: Investing Ideas Daily is owned and operated by Darwin Investor Network, a DBA of The Darwin Agency, Inc.

Disclaimer: Nothing in this email should be considered personalized financial advice. Always conduct your own due diligence when investing. We urge you to read our full disclaimer by clicking on the terms of use link below.

Unsubscribe: You are receiving this email as part of your complimentary subscription to the Investing Ideas Daily E-Letter. If you would like to unsubscribe, you can do so by clicking on the unsubscribe link below.Darwin Investor Network
2319 N Andrews Avenue, Fort Lauderdale, FL 33311
support@investingideasdaily.com | 1-800-496-9838Investing Ideas Daily | Privacy Policy | Terms of Use
Unsubscribe | View Online

RJ Hamster

Why the Next Recession Could Favor Patient Investors

Market News, Investing Trends, and Actionable Ideas to Start Your Day. FEATURED ARTICLE

Why the Next Recession Might Reward Patient Investors

Most investors obsess over recession predictions. They watch GDP forecasts, track yield curve inversions, and panic when economists start whispering about economic contractions. I get it,recessions sound scary….READ STORY →

NEXT UP

A Million-Dollar Gold Bear Bet Just Hit the Market Before the Fed’s Next Move

A sophisticated trader just made a statement in the gold market, and it’s worth paying attention to. Through a carefully structured options position in the SPDR Gold ETF, someone simultaneously sold upside call exposure while buying downside…

EXPLORE MORE →

Two groups of investors are forming right now –…

Every great economic transition in history produces the same outcome:

A small group of people who understands the moment rises to meet it. This group of innovators builds lasting wealth and status from the opportunity.

A much larger groupfails to adapt. They stick to what worked for them in the old paradigm. Unfortunately, this group falls behind and loses ground they never recover.

It happened in 1776 – with the birth of the steam engine. One group embraced the technology. They shipped goods and passengers faster than ever before. They became rich, and dictated the trajectory of the country for a century.

It happened again with the birth of the internet. An entire generation of internet-savvy entrepreneurs and investors created the greatest engine of wealth ever seen.

For the last 250 years, it has happened again and again, right under our feet. The steam engine… The Model T… The personal computer. The internet. The smartphone…

Those who dismissed these new innovations were left behind, or at least struggled to catch up.

Today, the exact same thing is happening. but at an order of magnitude never before seen. The transition underway right now is the biggest in a generation…

The two groups are forming as you read this. Two separate Americas:

One that understands the massive upheaval in the status quo – from the rise of AI to shifting global powers… This America sees what’s happening right now as the greatest opportunity in human history to build generational wealth.

The other America watches from the sidelines in fear and anger. And don’t get me wrong. These feelings are 100% justified… But for millions of Americans, these feelings get in the way of what matters:

Understanding the moment, and rising to meet it.

So what is this moment we’re facing today, exactly?

According to two legendary financial analysts, it’s America’s New 1776 Moment – where economics, technology, and geopolitics collide to create what could be the largest wealth transfer in American history.

In their free briefing, they reveal the stocks to buy… the stocks to sell… and the three money moves to best position yourself to ensure you’re on the winning side of this new economic reality.

It’s time to rise and meet the moment. This briefing gives you everything you need to know:

CLICK HERE TO SEE THE “NEW 1776” BRIEFING

Featured Story from MarketBeat

Tariffs Rose: 1 Steelmaker Thrived, 1 Still Struggles

Written by Chris Markoch. Originally Published: 4/23/2026.

Key Points

Steel tariffs are increasing domestic demand, but profitability depends on each company’s cost structure.
Steel Dynamics is outperforming due to its lower-cost, flexible electric arc furnace model.
Cleveland-Cliffs continues to face margin pressure from higher fixed costs and debt obligations.
Special Report: Elon Musk already made me a “wealthy man”

On April 20, two of America’s largest steel companies reported earnings during a period that should have favored the industry: imports are at a 17-year low in a tariff-sheltered market. However, protected pricing only helps a company if it can profit from it.

That’s where the outlook for Steel Dynamics (NASDAQ: STLD) and Cleveland-Cliffs (NYSE: CLF) diverges. For Q1 2026, Steel Dynamics generated $403 million in net income while Cleveland-Cliffs reported a loss of $229 million. Understanding why those results differ is essential before investors decide how to approach each stock.

Why Steel Tariffs Aren’t an Automatic Buy Signal

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

The 50% tariff on imported steel has helped choke off foreign competition and push buyers toward domestic suppliers. In Q1 2026, U.S. steel imports hit their lowest quarterly level since 2009, and domestic producers are capturing demand that previously went offshore.

But the tariff is a floor, not a rocket. How high a steelmaker can go on pricing depends entirely on how cheaply it can produce steel. That’s where the business models of Cleveland-Cliffs and Steel Dynamics diverge sharply.

The Old Model and the New Model

At its core, Cleveland-Cliffs is an integrated steelmaker. The process is expensive, energy-intensive and largely fixed-cost. You can’t easily throttle a blast furnace up or down when demand shifts. It also comes with infrastructure and workforce obligations.

Adding to those obligations, Cliffs has a heavily unionized labor force. Despite a roughly 95% reduction in pension and OPEB liabilities since its ArcelorMittal acquisition, it still operates with a debt load that forces the company to prioritize repayment over growth.

By contrast, Steel Dynamics runs entirely on electric arc furnace (EAF) technology. EAF mills melt recycled scrap metal using electricity, skipping iron ore and blast furnaces entirely, and can be dialed up or down with demand.

EAF steelmaking uses roughly one-quarter of the energy of traditional blast furnace production and generates a fraction of the emissions.

It’s faster, cheaper to operate, and structurally more flexible.

STLD also owns a scrap recycling network through OmniSource, one of the largest nonferrous recyclers in North America, which gives it a raw-materials cost advantage that integrated producers simply can’t replicate.

How the Business Models Showed Up in Earnings

Higher steel prices boosted revenue per ton for both companies. After that, performance comes down to the spread between revenue and costs.

Steel Dynamics converted $5.2 billion in revenue into $700 million of adjusted EBITDA, a 13% margin. That allowed the company to repurchase $115 million in stock and raise its dividend by 6%. STLD’s shares rallied more than 10% in the days after the earnings release.

Cleveland-Cliffs converted $4.9 billion in revenue into $95 million of adjusted EBITDA, roughly a 2% margin, and posted a net loss of $229 million after interest and other charges. It’s not lost on investors that CLF doesn’t pay a dividend; the stock fell over 8% following the report.

Where and Why Investors Need to Look Before They Leap

That said, earnings reports are backward-looking, and Cleveland-Cliffs says the coming quarter will be better. They could be right.

On Sept. 17, 2025, the company signed a Memorandum of Understanding (MOU) with POSCO, Korea’s largest steelmaker and one of the world’s top producers. The deal could be mutually beneficial: POSCO is looking to support and grow its U.S. customer base, as the domestic market has become more favorable.

However, the two companies have not reached a final agreement, and management says a deal would only occur at “full and fair value.” Analysts currently maintain a Hold rating on CLF, and Morgan Stanley lowered its price target to $12 from $18. That is in line with the consensus price target of $12.19, which implies roughly 33% upside.

On the other hand, Steel Dynamics is expanding into aluminum. That expansion is currently producing a quarterly loss of about $65 million, but analysts view it as a growth investment rather than a long-term liability.

Analysts are mixed on STLD. The stock carries a Hold rating and a consensus price target of $185.11, which implies more than 15% downside from recent levels.

Nonetheless, some analysts have been raising their price targets, though the highest targets still imply downside from recent trading prices.

Featured Story from MarketBeat

Up 775% in 5 Months, How Much Higher Can Syntec Optics Go?

Written by Thomas Hughes. Originally Published: 4/21/2026.

Key Points

Syntec Optics is in the midst of a transition to commercial production, and it’s reflected in the stock price action.
Risks include insider ownership and tepid sell-side interest, with the CEO owning more than 80% of the shares.
A move to new highs would confirm a pivot ad likely eading to another $9 price increase.
Special Report: Elon Musk already made me a “wealthy man”

Syntec Optics (NASDAQ: OPTX) has become a favorite among equity speculators, its share price up roughly 775% since late 2025. Given the technical setup and growth potential, there’s a reasonable chance the run can continue — potentially producing another large, triple‑digit move over time. The key question is whether the market can sustain enough momentum to push past a critical threshold.

The REAL Reason Trump is Invading Iran (Ad)

For a moment…

Forget about Trump’s ties to Israel.

Forget about reports of Iran’s nuclear program.

Because my research has led me to believe we’re risking World War 3 with Iran for a completely different reason.Click here to find out what it is.

That threshold is $11.54, a resistance level that has been in play since the IPO/SPAC merger. It is likely to be a strong barrier given the years of overhang and recent price action, but not insurmountable. For a breakout above this level to stick, market dynamics will need to shift meaningfully — a shift that could arrive as upcoming catalysts materialize. Until then, the risk of a major pullback remains elevated.

If a fresh high is established, a reasonable upside target is roughly the magnitude of the trading range — more than $9, or about 775%. A $9 advance is the more likely scenario and would move the stock well above mid‑April support, putting OPTX at a new all‑time high. Signals that make new highs plausible include newly established support near $9, rising trading volume, and a bullish crossover of exponential moving averages — a classic Golden Cross that suggests improving market momentum.

Syntec Optics Is Turning a Corner

Syntec Optics is an emergent technologycompany focused on integrated optics and photonics components for a range of applications. The main catalyst this year is a shift toward commercial production, supported by government contracts and accelerating revenue growth.

The company’s technology centers on polymer‑based optics and its manufacturing capabilities. Polymer optics can yield lighter, higher‑performance components that are important to defense, industrial, and healthcare markets. Syntec also benefits from being NDAA‑compliant: its products are made in New York, and capacity expansions are underway to meet rising demand.

Syntec is generating revenue and is forecasting growth for the first time in years, with next‑generation opportunities — data centers, AI, defense, and space — expected to drive demand. Tailwinds include onshoring of U.S. and defense supply chains, new products aimed at datacenter and AI customers, and growth in space applications.

Demand for low‑Earth‑orbit satellites is ramping and is expected to stay strong in coming quarters. A potential SpaceX IPO could further energize the sector, increasing launch cadence and boosting demand for related optical and photonic equipment. That could attract institutional capital and broaden ownership of suppliers to the space industry.

Syntec Optics Comes With Considerable Insider Risk

Insider concentration is a notable risk: CEO Al Kapoor owns more than 80% of outstanding shares. That creates a low‑float situation and the prospect of significant selling pressure if large insider sales begin. Currently, insiders have not made meaningful sales for many quarters, but the possibility of future selling increases as the stock trades near long‑term highs.

Short interest is another potential vulnerability — significant insider selling could attract short sellers, though they are not yet a dominant force in this name.

Two natural counterweights to insider overhang are institutional buyers and analyst coverage. MarketBeat tracks only one analyst covering OPTX — Weiss Ratings, which rates the stock a Sell — and institutional ownership remains under 2% of shares outstanding. That said, institutional interest has been rising, with names like Vanguard and BlackRock appearing among holders. Still, low overall institutional ownership leaves the stock exposed to headline‑driven volatility.

Cash flow is also a concern: the company is cash‑flow negative. Offsetting factors include a relatively healthy balance sheet for a company of this size and sufficient runway to continue operations near term. FY2025 highlights included reduced cash balanced by higher receivables and inventory, lower long‑term debt and total liabilities, and modest leverage — long‑term debt ran near 0.35x equity. Dilution has been limited, contributing roughly 70 basis points of net impact in FY2025.

The next visible catalyst is the Q1 2026 earnings report, expected in late June or early July. Management has signaled a seasonal Q1 slowdown with an expected pickup in Q2, but results could beat guidance or be accompanied by other positive news such as new customers, contracts, or orders.

This email message is a paid advertisement for Porter & Company, a third-party advertiser of MarketBeat. Why was I sent this email message?.

If you have questions or concerns about your subscription, please don’t hesitate to contact MarketBeat’s U.S. based support team at contact@marketbeat.com.

If you would no longer like to receive promotional emails from MarketBeat advertisers, you can unsubscribe or manage your mailing preferences here.

© 2006-2026 MarketBeat Media, LLC. All rights protected.
345 N Reid Place, Sixth Floor, Sioux Falls, SD 57103. U.S.A..

Today’s Bonus Content: Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company(From Banyan Hill Publishing)

RJ Hamster

Capital is moving without you

Dear Reader,

I try not to spend too much time on forecasts.

What matters more, in my experience, is watching where capital is actually moving.

And lately, the movement has been pretty consistent.

There’s a gradual rotation taking place.

Away from one part of the market…

It’s not dramatic.

You won’t necessarily hear about it on TV.

But you can see it in relative performance.

You can see it in trends that refuse to break down. You can see it in areas that continue to attract buyers.

After a long period where capital chased “ideas” – software, platforms, narratives – there are early signs it’s shifting toward more tangible assets.

That’s a key component of what I describe as the Chaos Cycle.

It’s less about storytelling… and more about supply, demand, and positioning.

And those forces tend to move before the narrative catches up.

By the time the story becomes clear, the price usually reflects it.

That’s why I focus on the shift itself.

This is where I’m seeing that rotation right now.

Stay sharp,

JC Parets, CMT
Founder, TrendLabs

Thursday’s Featured Content

Kinder Morgan’s Cash Flow Drives Upside: Potential Swells in Q1

Reported by Thomas Hughes. First Published: 4/24/2026.

Key Points

Kinder Morgan outperformed in Q1 and is on track for a better-than-expected year.
Cash flow and capital returns are strong; outperformance suggests distribution increases can accelerate.
An expanding network and demand trends say the long-term forecasts are too low, and an uptrend can be sustained.
Special Report: The Biggest IPO Ever: Claim Your Stake Today

Kinder Morgan (NYSE: KMI) is well-positioned as a leading middleman for natural gas markets. While the company’s business is diversified across energy markets, the focus remains on natural gas, where demand is swelling. Gas is becoming more readily available and many industries are turning to it as a cheaper, greener alternative to traditional fuels. Supply disruptions around the Strait of Hormuz have also shifted global demand toward the United States, while Kinder Morgan is doubling down on growth.

Kinder Morgan Is a High-Quality Growth (and Cash Flow) Machine

Among the company’s attractions are its fortress-like balance sheet and its ability to internally fund acquisitions. Highlights from fiscal Q1 include higher cash and assets, lower debt, improved equity, and capital returns. The company will buy back shares, though buybacks are irregular; the primary focus remains on sustainable dividends and distribution increases. KMI stock yields about 3.7% at recent support levels and has raised dividends for nine consecutive years.

The REAL Reason Trump is Invading Iran (Ad)

For a moment…

Forget about Trump’s ties to Israel.

Forget about reports of Iran’s nuclear program.

Because my research has led me to believe we’re risking World War 3 with Iran for a completely different reason.Click here to find out what it is.

Other Q1 takeaways include an expected 2% dividend increase this year and indications that next year’s increase may be larger. The key message from guidance is that profitability metrics are running modestly ahead of budget and trends look favorable for investors.

The longer-term opportunity for investors lies in momentum from accelerating distributions likely to be announced later this year, on top of the company’s rapidly expanding network. Another tuck-in acquisition is reportedly in the works, projects were put in service in Q1, and backlog recovery is running better than a $1-for-$1 rate.

In this environment, KMI’s growth could accelerate and surpass consensus estimates. Analysts’ consensus currently forecasts roughly 7% revenue growth in 2026, versus nearly 14% reported in Q1, and projects a contraction in 2027. The more likely outcome—given the company’s trends and recent analyst revisions—is that KMI continues to perform strongly. Market reaction after the release has been solid, with numerous analysts lifting revenue, earnings, and price targets.

Analysts and Institutions Underpin KMI Stock Price Rally

MarketBeat tracks 17 analysts with current ratings. The consensus rating is Hold; coverage is steady, but price targets have been moving higher. Following the release, late-April consensus implies roughly 10% upside from the critical support level, with revisions nudging the high end of the range. A move into that high-end would put the stock at a fresh long-term high and on track to continue advancing.

Valuation metrics suggest upside could be in the high double digits over the next three to five years. Trading around 23x 2026 earnings, the stock appears fairly valued relative to the S&P 500. Under a modest growth scenario, the multiple could compress toward the mid-teens (around 16x) by 2030, but growth is likely to be stronger. Natural gas demand is expected to rise at a steady compound annual rate over the next several years—roughly 30% higher by 2031—and longer-term forecasts suggest growth will remain robust through the decade.

Institutional activity underscores the value opportunity entering 2026. Institutions own more than 60% of the shares and have been net buyers over the trailing 12 months. MarketBeat data show institutional buyers outnumber sellers by about $2-to-$1, a dynamic that helps sustain the rally. Short-sellers are a variable—short interest rose more than 10% as of early April but remains low at about 2.5%. In this context, shorts present only a modest headwind and are more likely to add upside if they cover their positions.

KMI Uptrend Intact: Market Tests Critical Support

The stock’s price action softened after the release, but that pullback is a normal retracement within an otherwise bullish trend rather than a red flag. The decline has tested support at a critical level that aligns with prior highs and the early-2026 breakout point, and it coincides with the long-term 150-day EMA. Given institutional buying trends, this level is likely to hold and could trigger a robust market response when tested. A move below it would not be fatal so long as no material negative news emerges and the price action recovers relatively quickly.

KMI’s biggest execution risk is project delivery. Natural gas pipelines, collection facilities, and liquefiers are complex and heavily regulated; investors should expect hurdles, delays, and regulatory roadblocks. Insider selling is another consideration—insiders have trimmed positions—but they still own a meaningful roughly 12% stake, benefit from share-based compensation, and have realized significant gains since the stock bottomed about five years ago.

Just For You

Investing in Rare Earth Elements: How the REXC ETF Bypasses China’s Dominance

Submitted by Jessica Mitacek. Date Posted: 4/28/2026.

Key Points

China controls approximately 90% of global rare earth element (REE) refining and has leveraged its dominance by implementing strict export controls, making REE supply a national security priority for the United States.
The global REE market is projected to reach $6.28 billion by 2030, driven by the essential role those 17 elements play in high-growth industries like semiconductors, EVs, aerospace, and artificial intelligence.
The new Sprott Rare Earths Ex-China ETF (REXC) allows investors to bypass Chinese market risks by focusing on producers in Australia, the United States, and Canada, though it carries a relatively high expense ratio for a passively managed fund.
Special Report: The Biggest IPO Ever: Claim Your Stake Today

When it comes to commodities, individual countries often dominate global reserves. While the United States may be the world’s largest oil producer, Venezuela holds the world’s largest proven oil reserves with more than 300 billion barrels. Australia and Russia have the largest unmined gold deposits, and Brazil is the world’s largest producer of soybeans.

For rare earth elements (REEs), China dominates the market with an estimated 44 million metric tons, accounting for roughly 40% to 49% of known global reserves. The country also leads in production, mining just under 70% of the world’s supply and refining nearly 90% of it.

The REAL Reason Trump is Invading Iran (Ad)

For a moment…

Forget about Trump’s ties to Israel.

Forget about reports of Iran’s nuclear program.

Because my research has led me to believe we’re risking World War 3 with Iran for a completely different reason.Click here to find out what it is.

REEs are critical to energy, aerospace and defensesystems, artificial intelligence and data centers, semiconductors, robotics, EVs, and many other industries. China’s dominance prompted President Donald Trump to invoke the Defense Production Actin March after the administration labeled REEs a national security priority.

For investors wanting to circumvent the ongoing trade tensions with China and related geopolitical risks, a new exchange-traded fund offers pure-play exposure while excluding Chinese companies. That approach can add a layer of protection if China again enacts REE export controls.

Global Demand for REEs Continues to Grow

REEs encompass 17 metallic elements essential to tech applications, lasers, and magnets. Despite their name, they aren’t rare in abundance; they are rare in concentrated, easily extractable deposits that can be economically mined.

According to Grand View Research, the global REE market was estimated at $3.95 billion in 2024 and is projected to reach $6.28 billion by 2030, a compound annual growth rate (CAGR) of 8.6% during the forecast period.

While the Asia Pacific region commands 86% revenue share, Grand View projects the U.S. REE market to outpace global growth with a projected CAGR of 9.2% between 2025 and 2030—an important consideration given China’s past export controls.

On April 4, 2025, China instituted major restrictions on the export of seven REEs, followed by a second wave of restrictions on Oct. 9, 2025; some of those October measures were later reported by Xinhua as suspended through Nov. 10, 2026.

There are currently no expectations that China will lift those controls before the end of the decade, as they appear to be part of a tactical strategy that uses case-by-case authorizations as levers for geopolitical pressure.

That backdrop presents an opportunity for investors in the recently debuted Sprott Rare Earths Ex-China ETF (NASDAQ: REXC).

The ETF Providing a Rare Opportunity for Rare Earths

REXC’s portfolio focuses on REE producers, development-stage miners, processors, and specialty materials companies operating outside of China.

By taking an ex-China approach, the fund aims to offer a thematic alternative for investors seeking diversified REE supply-chain exposure while avoiding the risks associated with China’s dominant role in the market.

According to Sprott, the fund’s issuer, “the [REXC] invests exclusively in companies outside of Chinathat may have significant growth potential as supply chain security becomes a national priority.”

This targeted exposure still gives investors access to the Asia Pacific region’s REE production while tapping into the United States’ higher projected CAGR.

Companies based in Australia account for nearly 52% of the fund’s holdings. That’s notable: Australia holds significant REE reserves—the fourth-largest stockpile globally, at about 5.7 million metric tons. The REXC’s second-largest holding by weight, at just over 17%, is Australia-based Lynas Rare Earths Limited (OTCMKTS: LYSCF)—a Buy-rated stock that analysts see as having nearly 60% upside over the next 12 months based on its consensus price target.

About 36% of the portfolio consists of U.S.-based companies, including Las Vegas-headquartered MP Materials (NYSE: MP)—the ETF’s largest holding by weight and market value. Accounting for around 20% of the fund’s portfolio, MP is also a Buy-rated stock that analysts see as having nearly 22% upside over the next 12 months based on its consensus price target.

Companies based in Canada and the United Kingdom make up another 14.7% of the fund’s holdings.

The REXC’s Targeted Exposure Comes With Caveats

While the fund could benefit if Chinese REE stocks face headline risks, investors should be aware of several considerations. First, the fund is passively managed but carries a relatively high expense ratio of 0.65%.

Prospective investors should also consider the fund’s thematic concentration risk and the potential for overexposure to REEs. Commodity prices can be volatile and are subject to project delays, regulatory changes, and other industry-specific risks.

Liquidity can also be light. As a newly debuted ETF, average daily trading volume is under 222,000 shares. For investors who see the appreciation potential of a strategic, China-free REE play, limited liquidity may be acceptable for long-term holders; however, active traders should exercise caution, use limit orders, and be mindful of bid-ask spreads.

Thank you for subscribing to DividendStocks.com’s daily newsletter for dividend and income investors that covers ex-dividend stocks, new dividend declarations, dividend stock ideas, and the latest market news.

This email communication is a sponsored message provided by Trend Labs, a third-party advertiser of DividendStocks.com and MarketBeat.

This ad is sent on behalf of The Oxford Club. 105 W Monument St, Baltimore, Maryland 21201. If you would like to optout from receiving offers from The Oxford Club please click here

If you need help with your subscription, please contact our South Dakota based support team at contact@marketbeat.com.

If you no longer wish to receive email from DividendStocks.com, you can unsubscribe.

© 2006-2026 MarketBeat Media, LLC.
345 N Reid Pl., Sixth Floor, Sioux Falls, SD 57103-7078. U.S.A..

Today’s Bonus Content: Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company(From Banyan Hill Publishing)

RJ Hamster

How Moby members found high-conviction plays before the crowd

Most investors find out about a great stock after it’s already too late.

Moby was built to fix just that.

It’s an AI-powered research platform that identifies high-conviction opportunities early — way before the crowd piles in.

Moby Premium Members got:

Nvidia up 2,500%.
Palantir up 2,000%.
Bloom Energy up 650% in under a year.

The next pick is already live for members.

Click here to get access to Moby Premium risk-free and see what the AI is watching right now.
(By clicking the link above, you are opting in to receive emails from this advertiser. You are also agreeing to the terms of our privacy policy. Unsubscribe at any time)

Today’s Exclusive Article

Coca-Cola’s Q1 Results Prove It’s a Good Buy to Hold and Hold

Authored by Thomas Hughes. Article Published: 4/28/2026.

Key Points

Coca-Cola’s April pullback is a buying opportunity that won’t last long; fresh highs are in sight.
Analysts and institutions show high conviction with a 100% Buy-side bias to the rating and accumulation underway.
Emerging markets underpin growth but aren’t the only drivers.
Special Report: Elon Musk’s $1 Quadrillion AI IPO

Coca-Cola (NYSE: KO) is not without headwinds, but it is navigating them well, delivering market-beating results and generating ample cash flow.

Its Q1 earnings highlighted several strengths: organic sales picked up and margins improved. One of the company’s biggest advantages is reliable cash flow, which supports a healthy capital-return program.

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

KO stock tends to trend higher over the long term. Despite a post-earnings surge, it still looks like a buying opportunity in early Q2 2026. Dividends and buybacks help with leverage. The Q1 release showed outperformance and margin strength, a trend that could continue through year-end given consumer resilience and a healthy labor market.

Coca-Cola Stock Trades at Value Levels in 2026

Trading below its long-term P/E average, KO could see its valuation expand by two to seven P/E multiples over the coming quarters and then sustain a higher multiple going forward. Beyond being a solid dividend stock, it also serves as a useful diversifier in a market dominated by AI. With a beta below 0.2, the stock can help reduce portfolio volatility while providing steady income.

Evidence of KO’s buy-and-hold quality appears in its institutional activity. Institutional investors bought KO through the Q4 2025 and Q1 2026 tech market consolidation. MarketBeat data show institutions own more than 70% of KO, providing strong support for the stock. They had accumulated at roughly a $2-to-$1 pace on a trailing 12-month basis, increasing activity into Q1 2026.

Q1 2026 institutional activity accelerated to about $3-to-$1, creating a strong price tailwind that is visible in the chart. KO’s price action surged at the start of the year, breaking to new highs and peaking in March. The likely outcome for Q2 is a continuation of that trend, as the April pullback brought the stock back to the 150-day exponential moving average—a common benchmark for institutional buying.

Analysts are also aligned with KO’s uptrend. MarketBeat data show 15 analysts rate the stock as a Buy, yielding a 100% buy-side bias. The consensus price target — which has risen over the past month, quarter and year — implies double-digit upside from current support levels and trends toward the high end of the range. A high target of $90, set before the Q1 release, would place the stock at a fresh all-time high and could be surpassed by year-end if Coca-Cola sustains its current trends and guidance, keeping analyst sentiment positive.

Distribution Growth Makes KO a Great Stock for Compounding

The Coca‑Cola Company’s capital-return program underpins its buy-and-hold appeal. Buybacks play a role but largely offset dilution; they act more as a stabilizer than a primary driver of shareholder leverage. Dividends are the stronger component. The company pays out roughly 65% of its earnings — typical for a Dividend King with more than 60 consecutive years of increases — and yields about 2.7% with shares near $80. Looking ahead, the dividend is reliable and likely to continue rising at a modest single-digit pace, helping to offset inflation.

Coca-Cola Moves Higher as Organic Strength Shines

Coca‑Cola delivered a strong quarter, notably because much of the growth was organic. While acquisitions can boost top- and bottom-line figures, organic growth reflects strength in core markets. Organic revenue rose 10% in Q1, driven by an 8% increase in concentrate sales and a 2% increase in price and mix. Concentrate sales benefited from favorable timing and calendar effects this quarter, and the company’s core strengths remain intact (see analysis).

Margins also improved. Both GAAP and adjusted margins widened, with foreign-exchange tailwinds contributing several hundred basis points to operating income. GAAP operating income rose 19%, adjusted operating income climbed 12%, and both GAAP and adjusted EPS increased 18%. Operating cash flow came in at $2 billion, with $1.8 billion in free cash flow — enough for management to maintain its full-year outlook. While not a dramatic catalyst, a sustainable cash-flow and capital-return profile is precisely what this market values.

Catalysts for KO include continued market-share gains. The company reported share growth across total non-alcoholic beverages and appears well positioned to extend that trend. Key growth drivers are emerging markets in Latin America and Asia, where industrialization and expanding middle classes are boosting consumption.

Today’s Exclusive Article

PepsiCo Stock Reversal Points Toward New All-Time Highs

Authored by Thomas Hughes. Article Published: 4/16/2026.

Key Points

PepsiCo’s stock price reversal gained momentum after Q1 results showed improving business trends.
Cash flow and capital returns are reliable and expected to improve in the coming year.
Analysts and institutions underpin the market action, pointing to fresh all-time highs by year’s end.
Special Report: Elon Musk’s $1 Quadrillion AI IPO

PepsiCo’s (NASDAQ: PEP) stock price hit bottom in mid-2025 and began to reverse course after years of end-market normalization, company-specific headwinds eased, and the impacts of turnaround efforts began to show traction.

That traction — in the form of revenue growth and margin improvement — continued over the following quarters and became more pronounced in fiscal Q1 2026, when the turnaround story strengthened further.

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

Q1 results beat expectations and revealed strength in both core and growth markets. The stock confirmed support at a critical level near $153.50, signaling that the reversal is in force and likely to advance as the year progresses. That level aligns with prior resistance and the baseline of a Head & Shoulders reversal pattern. A Head & Shoulders is formed by a low followed by a lower low and then a higher low; it is not confirmed until the baseline (or “neckline”) is broken.

The baseline is a pivot: when price moves above it, market dynamics shift from distribution to accumulation. Head & Shoulders patterns often precede short-term rallies roughly equal to the pattern’s magnitude, and they can presage longer-term uptrends supported by fundamental results. In PepsiCo’s case, the company appears back on track to sustain growth over the next several years, meaning its uptrend can continue until the outlook changes.

PepsiCo on Track for New All-Time Highs This Year

The reversal pattern measures roughly $24, from a low near $129.50 to the $153.50 baseline. Projecting that dollar move from the baseline yields a target near $177.50; projecting the percentage (about 18%) yields a target near $181.15. That range corresponds to 18-month highs for the stock and could be attainable given the stock’s valuation as of mid-April 2026.

Trading near $155, PEP is valued at under 18X forward earnings — roughly six points below historical norms. Based on that relative undervaluation, PepsiCo’s share price could advance by more than $50 to exceed $200 in the near- to mid-term, establishing a fresh all-time high. Over the longer term, the stock is trading below 12X its 2035 forecast (a figure that may be conservative), suggesting upside potential well beyond 100% over time.

Institutional activity supports the view that the mid-2025 bottom is a meaningful floor. While shares could pull back if a negative catalyst emerges, institutional investors are likely to buy so long as fundamentals remain intact. Institutions now own more than 70% of the shares and have been net acquirers for eight consecutive quarters. Activity accelerated in Q1 2026, hitting a multi-year high, with roughly $3 bought for each $1 sold — a powerful tailwind that is likely to persist into Q2 and beyond.

Analysts are broadly supportive as well, which could provide an additional catalyst in Q2. The 20 analysts tracked by MarketBeat rate the stock a consensus “Moderate Buy,” with a 40% Buy-side bias. The consensus price target implied about 10% upside at publication, though some recent target reductions have capped gains at the high end.

A market catalyst could be a reversion toward more bullish analyst actions — upgrades and price-target increases. Until that occurs, the consensus sentiment and target have remained relatively stable on a trailing 12-month basis despite ongoing revisions, reflecting conviction around current levels.

PepsiCo Grows and Outperforms in Q1: Capital Returns Are Safe and Reliable

PepsiCo reported a solid quarter, with 8.5% revenue growth driven by 2.6% organic growth, 2.5% acquisitional growth, and a 3.4% currency tailwind. Top-line and organic growth both accelerated sequentially and outpaced last year’s levels, led by strength across segments. Europe, the Middle East, and APAC were particularly strong, growing about 7%, with gains also in the International Beverage Franchise, Latin America, and core U.S. markets.

Growth reflected brand investments and pricing actions designed to improve affordability; importantly, pricing dynamics helped drive volume growth in key categories and supported systemwide margin improvement. Operating margin expanded by 210 basis points. Adjusted EPS came in at $1.61, a leveraged 9% increase versus the 8.5% revenue gain and more than a nickel above expectations.

Investors should note the strength of cash flow and its implications for capital returns. Net income approached $2.3 billion for the quarter — more than sufficient to cover the dividend — leaving the company in a healthy financial position. Dividends yield about 3.65% annualized, and share repurchases totaled nearly $2.1 billion, modestly reducing the share count year over year. Balance-sheet metrics show no red flags: cash, assets, and equity increased during the quarter, and long-term debt remains around 2x equity.

Thank you for subscribing to DividendStocks.com’s daily newsletter for dividend and income investors that covers ex-dividend stocks, new dividend declarations, dividend stock ideas, and the latest market news.

This email content is a sponsored email sent on behalf of Interactive Offers, a third-party advertiser of DividendStocks.com and MarketBeat.

If you need assistance with your subscription, please email our South Dakota based support team at contact@marketbeat.com.

If you no longer wish to receive email from DividendStocks.com, you can unsubscribe.

© 2006-2026 MarketBeat Media, LLC. All rights protected.
345 North Reid Place, Sixth Floor, Sioux Falls, S.D. 57103. United States..

From Our Partners: Are we ignoring the same signal Wall Street ignored in 1929?(From Weiss Ratings)

RJ Hamster

The Socialists are at the gate

Dear Reader,

Last year I ran for Mayor of New York City.

And lost to a 34-year-old Democratic Socialist.

Now I’m convinced what’s starting in New York will spread across America.

Just for starters:

The new mayor wants to spend $70 million of taxpayer money just to study whether government-run grocery stores are a good idea.
He’s threatening a 9.5% property tax hike on every homeowner in the city.
And he wants to raise taxes on every corporation and high earner.

This isn’t just a New York story. Nearly 40% of Americans now have a “positive” view of socialism.

But what nobody’s talking about is WHY this is happening… and where it’s all headed.

I have my MBA from Harvard and spend my time in correspondence with billionaires like Warren Buffett and Bill Ackman. I’ve spent 30 years on Wall Street. And there’s a specific term for what’s unfolding in America right now… one that points to an economic event unlike anything we’ve seen in over 100 years.

I’m not running for office again. But if you care about your wealth, your family, and your future, you need to understand what’s really coming.

I’ve put together a free analysis explaining exactly what I see, and the specific steps I recommend you take with your money today.

I strongly encourage you to check it out here.

Regards,

Whitney Tilson
Editor, Stansberry Investment Advisory
Former Hedge Fund Manager
Co-Founder, Teach for America
Harvard MBA

P.S. What’s happening today will reset the financial system in a way most of us can’t imagine. If I’m even half right, it’s going to have a huge impact on your money and your future. Get the details here…

3 Biotech Stocks That Could Benefit from the Patent Cliff

Authored by Chris Markoch. Date Posted: 4/27/2026.

Key Points

Biotech M&A activity is accelerating ahead of a projected $300 billion patent cliff, creating new opportunities in smaller, innovative companies.
Gene editing leaders like CRISPR Therapeutics, Intellia Therapeutics, and Beam Therapeutics offer differentiated platforms that could attract acquisition interest.
Investors willing to take on higher risk may find outsized upside in biotech stocks developing one-time curative therapies for chronic diseases.
Special Report: Elon’s “Hidden” Company

Biotechnology stocks have seen a spike in merger and acquisition (M&A) activity. In March 2026 alone, there were 10 deals valued at approximately $31.5 billion.

A key driver of this activity is the upcoming patent cliff — the period when a drug loses exclusivity and faces biosimilar competition. Analysts are forecasting the industry will confront roughly a $300 billion patent cliff by 2030.

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

Two large-cap biopharma companies with best-selling drugs approaching the cliff are Merck & Co. (NYSE: MRK) with its blockbuster Keytruda and Bristol Myers Squibb (NYSE: BMY) with Eliquis. These are quality names that offer investors the relative safety of strong balance sheets and dividends.

That dynamic creates an opportunity for investors with a higher risk tolerance: small- and mid-cap companies that could become acquisition targets. Many of these firms specialize in therapeutics that could shift the biotech paradigm from chronic management to one-time cures.

Acquirable Assets: Which Biotechs Deserve a Higher Floor

Sectors often move in tandem, but right now the biotech companies with the most upside are those with acquirable assets. Investors should look for three things:

The underlying science is sufficiently differentiated that a large-cap competitor can’t quickly replicate it.
The company owns its intellectual property.
The indication is large enough to meaningfully move revenue and earnings for an acquirer.

Many small-cap biotech names don’t meet every bar, which is one reason this is a challenging sector for investors. Still, there are three companies worth watching — each sits at a different point on the risk/maturity curve.

This isn’t a prediction that these firms will be acquired, but they check the three boxes above and offer the promise of potential one-time cures for chronic or untreatable diseases.

First-Mover Advantage in Gene Editing

Gene editing is a paradigm-shifting opportunity, and CRISPR Therapeutics (NASDAQ: CRSP) is an established pure play in the space. Unlike many peers, CRISPR already has a product on the market: in fact, CASGEVY delivered over $100 million in revenue in 2025, and the company says patient initiations have nearly tripled year-over-year.

CASGEVY treats sickle cell disease (SCD) and beta-thalassemia — large but relatively niche markets. A key growth vector for CRSP may be its work in cardiovascular disease: the company’s CTX310 candidate is positioned as a potential one-and-done therapy to rapidly lower triglyceride and LDL levels.

CTX310 recently reported positive Phase 1 data. That still leaves a runway to commercial approval, but the early results are encouraging.

Analysts are generally optimistic on CRSP; of the 19 analysts tracked by MarketBeat, two carry Sell ratings. Short interest is roughly 24% as of this writing. Given that mix, investors may prefer to scale into positions gradually and use dips as opportunities to add exposure.

High-Risk, High-Reward In Vivo Editing

If CRISPR Therapeutics is the most commercially mature name in the space, Intellia Therapeutics (NASDAQ: NTLA) represents the highest-stakes bet. Intellia is a pioneer of in vivo CRISPR editing — making genetic edits directly inside the body rather than ex vivo — which dramatically expands the range of diseases that gene editing can potentially treat.

Intellia’s two late-stage candidates are nexiguran ziclumeran (nex-z), developed with Regeneron for transthyretin amyloidosis (ATTR), and lonvoguran ziclumeran (lonvo-z), a wholly owned program for hereditary angioedema (HAE). Both target rare, underserved diseases where a one-time functional cure would represent a true paradigm shift from chronic management.

Key 2026 catalysts include a Phase 3 data readout for lonvo-z in HAE expected April 27, 2026, and progress reinvigorating the ATTR cardiomyopathy program after the FDA lifted its clinical hold. Either development could move the stock materially in either direction. NTLA is not for the faint of heart, but for investors who believe in the in vivo thesis, it’s the purest expression of that approach.

Precision Gene Editing’s Next Frontier

Where Intellia focuses on CRISPR-Cas9, Beam Therapeutics (NASDAQ: BEAM) is developing base editing, which acts like a molecular pencil — rewriting a single genetic letter rather than making a double-strand cut. That precision may help address safety concerns that have kept some investors on the sidelines.

Beam’s most advanced wholly owned program, BEAM-302, targets alpha-1 antitrypsin deficiency (AATD), a genetic disorder of the lungs and liver that currently has no curative therapy.

In March 2026, Beam reported positive updated Phase 1/2 data and said it plans to advance BEAM-302 into pivotal testing in the second half of the year. Its sickle cell program, risto-cel, could see a U.S. approval filing as early as late 2026.

Beam carries more early-stage risk than CRSP and faces nearer-term funding questions given its cash runway. Nevertheless, its differentiated platform and proximity to pivotal data make it a name worth monitoring for investors willing to accept that risk in exchange for the upside a successful readout or acquisition could deliver.

Google Cloud Next 2026 Event Bets Big on AI Infrastructure

Authored by Ryan Hasson. Date Posted: 4/25/2026.

Key Points

Alphabet rebranded Vertex AI as the Gemini Enterprise Agent Platform, positioning it as a unified control plane for enterprise AI agent deployment.
The company unveiled eighth-generation dual-chip TPUs and the Virgo Network, demonstrating how it is deploying its $175 billion to $185 billion capex commitment.
Workspace Intelligence reached general availability, and a new migration tool lets organizations switch from Microsoft 365 up to five times faster than before.
Special Report: Elon’s “Hidden” Company

Google Cloud Next 2026 wrapped up its opening two days in Las Vegas with one of the most ambitious and wide-ranging sets of announcements in the event’s history.

For investors watching Alphabet (NASDAQ: GOOGL), the timing is significant. The stock closed on Thursday at $338.89, just 2.9% below its all-time high. With Q1 2026 earnings due April 29, the company also gave the market a detailed preview of what its $175 billion to $185 billion 2026 capital expenditure (CapEx) commitment is actually building.

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

The answer is a full-stack AI enterprise platform, and the announcements from Cloud Next make that vision more concrete. Here are some of the event’s biggest announcements and takeaways so far.

The 8th-Generation TPU: 2 Chips for the Agentic Era

The headline infrastructure announcement was the unveiling of Google’s eighth-generation TPUs, a dual-chip architecture designed specifically for what the company calls the agentic era. The TPU 8t is optimized for accelerated model training, while the TPU 8i targets cost-effective inference at near-zero latency. As AI deployments shift from training large models to running them continuously at enterprise scale, inference cost and latency become the primary competitive variables. Google’s decision to build dedicated silicon for each workload reflects an infrastructure sophistication that’s difficult to replicate.

Alongside the TPUs, Google announced the Virgo Network, a new mega-scale data center fabric designed to underpin the AI Hypercomputer—its term for clusters of thousands of interconnected chips operating as a single system. Managed Lustre storage, delivering 10 terabytes per second of throughput, rounds out the infrastructure stack. Together, these announcements indicate that the $175 billion to $185 billion CapEx commitment is being deployed with precision, not just scale.

Vertex AI Is Now the Gemini Enterprise Agent Platform

Perhaps the most strategically significant announcement was the rebranding of Vertex AI as the Gemini Enterprise Agent Platform. The rebrand signals a fundamental shift in how Google is positioning its cloud business. This is no longer a collection of machine-learning tools; it is a unified, end-to-end control plane for building, deploying, securing, and orchestrating AI agents at enterprise scale.

Google Cloud CEO Thomas Kurian framed the competitive argument directly: while rivals are handing customers pieces, Google is offering the whole platform. It is a bold claim, but the logic has merit. Google is the only major hyperscaler that controls custom silicon, frontier AI models, a cloud platform, and an enterprise productivity suite with billions of users. The Gemini Enterprise Agent Platform is the layer that attempts to unify all four into a single operating system for the AI enterprise.

The platform includes a new Agent Designer for building schedule- and trigger-based agents, long-running agents capable of executing complex business processes, and an inbox for managing agent activity, all integrated natively with Google Workspace.

Workspace Intelligence and the Enterprise Distribution Advantage

Workspace Intelligence reached general availability at Cloud Next, delivering, according to Google, a unified, real-time understanding across its productivity applications. The system goes beyond simple data retrieval, incorporating a dynamic understanding of semantic relationships across documents, projects, collaborators, and organizational context.

Also announced, Rapid Enterprise Migration now enables organizations to migrate from Microsoft 365 to Google Workspace up to five times faster than before — a direct competitive thrust against Microsoft’s (NASDAQ: MSFT) dominance in enterprise productivity.

The scale of Google’s distribution through Workspace is often underappreciated in discussions of the AI cloud race. Three billion users across Workspace apps represent a deployment channel that neither Amazon’s (NASDAQ: AMZN) AWS nor Microsoft’s Azure can match through productivity software alone.

The Numbers Behind the Conference

CEO Sundar Pichai revealed that 75% of all new code written at Google is now AI-generated, up from approximately 25% just a year ago.

Google’s first-party models are now processing 16 billion tokens per minute via direct customer APIs, up from 10 billion in the prior quarter. Google also committed $750 million to a partner fund to accelerate the adoption of agentic AI across its 120,000-member global partner ecosystem.

Analysts maintain a consensus “Moderate Buy” rating on GOOGL, with a price target of $369.67, implying about 7% upside potential.

The Q1 earnings report on April 29 — when Google Cloud growth is expected to exceed 50% year over year — will be the next test of whether the infrastructure investment is translating into revenue at the pace the market is pricing in.

This email is a paid advertisement for Stansberry Research, a third-party advertiser of MarketBeat. Why was I sent this email message?.

This ad is sent on behalf of Stansberry Research, 1125 N Charles St, Baltimore, MD 21201. If you would like to optout from receiving offers from Stansberry Research please click here.

If you need help with your newsletter, please don’t hesitate to email MarketBeat’s U.S. based support team at contact@marketbeat.com.

If you would no longer like to receive promotional emails from MarketBeat advertisers, you can unsubscribe or manage your mailing preferences here.

© 2006-2026 MarketBeat Media, LLC. All rights reserved.
345 N Reid Pl., Sixth Floor, Sioux Falls, South Dakota 57103-7078. United States of America..

See Also: Crash Expert: “This Looks Like 1929” → 71,048 Diversifying Here(From Masterworks Administrative Service LLC)

RJ Hamster

The Edge Wall Street Can’t Copy

If you read yesterday’s Daily, you already know the truth.

If you haven’t, please keep reading. You’re about to see how everyday investors are beating some of Wall Street’s biggest hedge funds.

Here’s what I mean.

Bill Ackman’s fund is down 13%. The average hedge fund is down this year. Even Citadel spent April just trying to get back to breakeven.

And while all of that is happening, our Asymmetric Edge subscribers are up 14%.

That’s not a typo. While Wall Street’s best are struggling, everyday investors following our research are outperforming the hedge funds by a mile.

One position already delivered a 139% win. Another has 1,833% upside potential. And our energy picks are up 53% on average since January.

We’re not chasing the same overpriced AI stocks everyone else is. We’re focused on the companies AI can’t live without.

See what our subscribers are buying right now.

When I was 24 years old, I took out a $100,000 loan to get my master’s in finance. I thought I was buying the blueprint for how institutional investing really works.

Boy, was I wrong.

My formal education taught me how to speak Wall Street’s language so I could hold my own in a room full of analysts and bankers.

But what it didn’t teach me was how to make money in the real world.

A cash flow statement can tell you how a business works. A valuation model can help you compare one company against another.

But none of that tells you when Wall Street is missing the bigger picture, or when a stock is about to be valued much higher, or when a hated sector is about to come back to life.

And none of it tells you when the “smart” money is walking straight into a trap.

That kind of judgment only comes from experience.

I was lucky enough to learn from one of the best real-world investors I know: Teeka Tiwari.

Teeka taught me how to look beyond the obvious fundamentals. He taught me how to think beyond the textbooks when the bigger opportunity was hiding in plain sight.

Most of the investing knowledge that changed my life didn’t come from a classroom. It came from the newsletter business, where I’ve built a career over the last decade.

It came from studying real market cycles and real investor behavior… and having real money on the line. That’s the knowledge I used to go from six figures in debt when I graduated college to seven figures in the bank 5 years later.

Granted, you have to learn the rules before you can break them. But it pays off when the market proves you right.

The Smart Money Is Underwater

Just look at the so-called smart money.

For decades, investors have been told the same thing: Give your money to the big money managers. Trust the professionals. It’s the responsible thing to do.

After all, they have the teams of Ivy League analysts. They have the multimillion-dollar models. They have access to the private research you and I will never get.

If you’ve done that before, I don’t blame you. You did everything “by the book.”

But this year has exposed a hard truth that Teeka and I have believed for years… Even the smartest people in the room can get it wrong.

Take Pershing Square Holdings, a hedge fund run by billionaire investor Bill Ackman. It’s down 13% for the year.

We’re talking about one of the most famous investment firms in the world, not some tiny fund run by amateurs.

And it’s not the only example. Chris Hohn, who made a record $18.9 billion in profits last year, just watched his flagship TCI fund fall 9.4% in a single quarter.

Across Wall Street, big funds are struggling to keep up with a market that keeps punishing crowded trades. The average hedge fund is down 0.27% this year, after losing 3.6% last month alone.

Even industry giants like Citadel and Millennium spent much of April fighting just to get back to breakeven.

The Hidden Tax Most Investors Aren’t Seeing

The cost of this underperformance is vast. All of these firms charge you whether they make money or lose money. And even when they make you money, some of these funds can take as much as 50% of YOUR profits.

Think about that. They eat none of the loss, take as much as half of your gain, AND charge you 2-5% win, lose, or draw.

It’s an amazing racket.

What’s incredible about the time period we live in is we all have access to much more information than we’ve ever had before. And the so-called “retail” investor has been using that edge to light up the institutions.

In October 2022, JPMorgan’s CEO Jamie Dimon warned that we’d slip into a recession within six to nine months.

And yet, according to Business Insider, retail investors just kept buying stocks, spending a record $1.5 billion a day. By the end of 2023, they saw the S&P 500 return as much as 37%, while the average fund made only about 10%.

It was a similar story again during the tariff tantrum that started last year. While the big boys were running for the hills, and dumping over $40 billion in stocks… retail was buying, pouring $7.3 billion into the markets.

Retail investors who hung in there made as much as 48% buying the S&P 500 off its lows, while the broad hedge fund industry only made 12.5%.

Here we are again with the most recent oil crisis, and we can tell you we’ve been doing our part to help our “mom-and-pop” subscribers absolutely crush the “smart” money.

Last year, many of the big funds were paralyzed by ESG mandates. They were forced to sell perfectly good companies because of a narrative, pushed by the IEA and major banks like HSBC and Citigroup, that global oil demand would fall off a cliff after 2030.

We knew that decline story was wishful thinking. We looked at the facts and saw oil consumption had tripled since the 1960s, with no signs of slowing down thanks to demand for jet fuel, synthetic fibers, and heating.

We identified energy stocks priced so cheap, the “risk” was essentially boredom. Some were trading at discounts as big as 70% compared to tech.

While the “smart” money is now stuck in software indexes that have cratered 21% since January, our energy picks are up 53% on average over the same timeframe.

We didn’t take on huge risks to get those returns. We just ignored the crowd and waited for the price to catch up to the facts.

As outsiders, what’s our edge? You and I, we don’t report to shareholders, limited partners, or an investment committee. That means we can go against the herd. Take a position when fear is high and sentiment is low. Professionals can’t do that without risking their jobs.

That’s why we built our Asymmetric Edge research service. We’re not trying to copy the hedge funds or chase every AI darling that makes headlines on CNBC.

We also don’t ask our readers to pay Wall Street-level fees for Wall Street-level disappointment.

Instead, we focus on asymmetric opportunities. Situations where the upside is much bigger than the downside. Small, smart bets that can turn into much bigger wins.

This is the kind of investing Teeka has spent the last 20 years teaching since he walked away from Wall Street for good. And it’s the kind of thinking that changed my life.

Because real investing is about seeing when the market is focused on the wrong thing. It’s about spotting a trend before it becomes obvious. And it’s about having the courage to act when the crowd is still confused.

The Edge Wall Street Can’t Copy

That’s where regular investors can still have an edge.

A giant hedge fund cannot easily move into smaller opportunities without moving the market. It cannot move quickly without committees and red tape. And it cannot look strange for too long, because big investors expect clean quarterly reports.

We don’t have those problems. We can go where the big funds can’t. We can focus on the opportunities that are still too small, too early, or too misunderstood for the big institutions to care about.

That’s our advantage. And it’s working. While the top 10 hedge funds are down 0.27%, our Asymmetric Edge model portfolio is up 14%.

One subscriber wrote in this month after following our recommendation on Bloom Energy (BE), which sells around-the-clock power directly to data centers (comments edited lightly for clarity):

Purchased BE at $114.02 and now is up to $227. Been following Teeka for close to 5 years and my portfolio has certainly gotten much better from him. Thank you and your team, Teeka.

Another, Randy C., wrote:

I purchased Bloom Energy last December when it was recommended by Teeka along with the rest of the Asymmetric Edge portfolio. I sold half of it when recommended and made back more than the initial cost ($99) of the original subscription. Thank you again, Teeka!

Bloom already gave our subscribers the chance to book a 139% win for a “free ride,” and it’s still running. The remaining shares have now more than tripled since we added them in December.

I’m not saying every position will go up in a straight line, or be a winner like Bloom.

That’s not how real investing works. There will be pullbacks and volatility.

There will be times when the market makes you feel dumb before it proves you right.

But what our near 14.3% outperformance against the hedge funds shows is you don’t need to blindly follow the “smart” money to make smart decisions.

You don’t need to accept the idea that you’re stuck with whatever retirement plan Wall Street gives you.

I learned the textbook version of finance in school. I learned real-world investing from Teeka, from the newsletter business, and from putting real money behind real ideas.

And the biggest lesson I can share with you is this: You don’t get rich by blindly trusting the crowd. You get rich by learning how to think differently before the crowd is forced to catch up.

In a market where even the smart money is getting caught off guard, I believe regular investors need this kind of edge more than ever.

So if you’re tired of paying attention to Wall Street only to feel more confused…

And if you want a simpler way to find high-upside opportunities before they become obvious…

I encourage you to review our latest research inside The Asymmetric Edge.

We’ll show you what we’re buying, why we’re buying it, and why you should

consider sidestepping the madness in the most over-owned AI stocks.

Don’t Watch the Future Happen. Own It!

Houston Molnar

Update your email preferences or unsubscribe here

1607 Ponce De Leon Ave
San Juan, Puerto Rico 00909, Puerto Rico

RJ Hamster

This is the worst news for stocks in 50…

Worst News for Stocks in 50 Years

Wall Street’s declared what could be the worst news for the U.S. stock market in 50 years.

If Goldman Sachs and Morgan Stanley are right… this won’t be like the crashes we’re used to. What’s about to hit America next could keep your portfolio in the red for 10 years or longer – unless you make a big change now.

To hear about this decade-long crisis now being predicted by multiple Wall Street banks…

And to see what you can do to prepare your wealth before this hits…

Click here to learn how to defend your portfolio.

Regards,

Keith Kaplan
CEO, TradeSmith

P.S. You may have noticed we see “surprise” crashes every year now. Think about it: rate spikes in 2022… the bank crisis in 2023… $8 trillion wiped out in 2024… $11 trillion wiped out during the tariff crash in 2025… and, this year, $12 trillion was wiped out in 30 days during the Iran War. Something is off and Wall Street suggests this could continue (and worsen) well into the 2030s. Click here to learn the truth about this market and see what you must do now to prepare.

Thursday’s Exclusive News

Why Anthropic’s Custom Chip Plans Could Benefit Broadcom

Authored by Leo Miller. Date Posted: 4/17/2026.

Key Points

Broadcom and Anthropic are partnering on a massive TPU deal
Anthropic is also considering developing its own chips, providing an additional opportunity for Broadcom
However, whether Anthropic will actually develop its own chips is far from confirmed
Special Report: Elon’s “Hidden” Company

Large language model developer Anthropic is one of the top names in the artificial intelligence (AI) race and is growing rapidly. From the end of 2025 to early April, Anthropic says its annual revenue run rate increased by more than three times, from $9 billion to over $30 billion.

To support that growth, the company is partnering with semiconductor giant Broadcom (NASDAQ: AVGO). Anthropic plans to access 3.5 gigawatts of Tensor Processing Unit (TPU)-based AI compute through Broadcom over the coming years — the same type of chips Broadcom has co-developed with Google parent company Alphabet (NASDAQ: GOOGL).

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

However, reports have surfaced that Anthropic is exploring the development of its “own” AI chips. For investors, it’s important to understand what that actually means — and why Anthropic designing chips could ultimately be another win for Broadcom.

AI Chip Development: Why Anthropic’s Exploration Could Include Broadcom

As first reported by Reuters, Anthropic is “exploring the possibility of designing its own chip,” according to three unnamed sources. The discussions are reportedly at an early stage: the company may decide to buy chips from third parties instead of designing its own, and Anthropic has not yet assembled a dedicated team for this project.

If Anthropic does pursue custom chips, it could have important implications for Broadcom. At first glance, the phrase “building its own chips” might suggest Anthropic would act entirely independently of firms like Broadcom. In practice, that outcome seems unlikely.

When companies say they want to develop their own chips, they often mean they will partner with semiconductor specialists such as Broadcom. Many refer to the TPU as Google’s “own” chip, yet Google has partnered with Broadcom to develop TPU technology for roughly a decade. Meta Platforms (NASDAQ: META) also works with Broadcom on its Meta Training and Inference Accelerator, while Amazon.com (NASDAQ: AMZN)partners with Marvell Technology (NASDAQ: MRVL) on its Trainium chips.

This shows a clear trend: even the world’s largest, best-capitalized companies rely on semiconductor experts to design and build custom chips. Despite Anthropic’s rapid growth, it would be difficult to argue its resources exceed those of the Magnificent Seven tech giants. If those firms partner with semiconductor stalwarts, Anthropic is likely to follow a similar path — and a Broadcom partnership could be very lucrative for the chipmaker.

Expanding Beyond TPUs? Why Broadcom Could Benefit

Although Anthropic is currently purchasing TPUs, a joint effort to develop bespoke chips with Broadcom would be attractive to the chipmaker. Such an arrangement would require more customized engineering and services from Broadcom, which could translate into a higher-margin revenue stream compared with selling standardized TPUs.

Margins could also improve if Google were not part of the partnership. If the TPU deal includes revenue-sharing between Broadcom and Google, a direct Broadcom–Anthropic agreement could shift more value to Broadcom. The exact financial terms of the TPU arrangement are undisclosed, however, so the size of this potential benefit is hard to quantify.

Co-development deals with chip customers also tend to be multi-year commitments. While Broadcom already has a multi-year TPU agreement with Anthropic, a fully custom solution would likely deepen and extend the companies’ relationship. Given Anthropic’s rapid growth, locking in a long-term custom-chip partnership would be advantageous for Broadcom.

That said, Broadcom is not guaranteed to win any future Anthropic business. Anthropic also has a strong relationship with Amazon: Amazon has invested $8 billion in Anthropic, and Anthropic uses Amazon’s Trainium chips. That connection raises the possibility that Marvell, Amazon’s custom chip partner, could compete for or win a design mandate.

Anthropic’s Potential Custom Chip: All Smoke, No Fire at This Point

It’s important to remember Anthropic’s custom chip may never materialize. Still, if it does, Broadcom or Marvell — among other chip designers — could stand to gain meaningfully. Competition for any deal would likely include several semiconductor firms beyond those two.

Nevertheless, the ties between Broadcom and Marvell to Anthropic are among the strongest. Broadcom’s link is direct, given Anthropic’s announced partnerships with the company. Anthropic’s relationship with Marvell is more indirect, stemming from its partnership and investment ties with Amazon.

Thursday’s Exclusive News

Defense Budget Expansion: 3 Mid-Cap Names in a Sweet Spot

Authored by Chris Markoch. Date Posted: 4/20/2026.

Key Points

A proposed surge in defense spending is accelerating demand for next-generation military technologies.
Mid-cap defense companies offer growth potential as they gain contracts and visibility.
Autonomous systems, cybersecurity, and shipbuilding are key themes driving long-term upside.
Special Report: Elon’s “Hidden” Company

In early April, the Trump administration proposed increasing defense spending to $1.5 trillion for 2027. This was the largest such request in decades and would mark a 44% boost for the Pentagon. At first glance, it might be easy to link this request to the Iran war. However, the administration floated its desire for a larger defense budget before that conflict began.

The reason is both practical and strategic: the current military infrastructure is not optimally configured for the nature of future warfare. Preparing for that future will require more investment in next-generation shipbuilding as well as in autonomous defense solutions.

Ticker Revealed: Pre-IPO Access to “Next Elon Musk” Company (Ad)

We’ve found The Next Elon Musk… and what we believe to be the next Tesla.

It’s already racked up $26 billion in government contracts.

Peter Thiel just bet $1 Billion on it.👉 Unlock the ticker now and get it completely free.

This helps explain why defense and aerospace stocks have led the market higher in 2026, including big names like Lockheed Martin (NYSE: LMT) and Northrop Grumman (NYSE: NOC). There’s also a growing opportunity in mid-cap stocks that have less visibility than their major index counterparts and are still being repriced.

Kratos Defense: A Pure Play on Autonomous Warfare Growth

The push for unmanned autonomous technology in the defense sector will require both offensive and defensive solutions. Kratos Defense & Security Solutions (NASDAQ: KTOS) operates in both areas.

On the defensive side, Kratos is one of the largest producers of counter-unmanned aerial systems (C-UAS). That market is projected to grow from roughly $6.64 billion in 2025 to about $20.31 billion by 2030, representing a compound annual growth rate near 25%. In March and April 2026, the company announced contracts totaling more than one-third of its fiscal year 2025 (FY2025) revenue of $1.35 billion.

On the offensive front, Kratos’ XQ-58 Valkyrie has been adopted by the U.S. Marine Corps, which continues to procure more Valkyries and could move Kratos closer to becoming a program of record for the Department of Defense.

KTOS is down about 40% from its year-to-date (YTD) high, with institutional selling outpacing buying. Still, analysts project earnings growth of around 38% and continue to raise price targets. That gives investors a more attractive entry point for a stock that is still up more than 100% over the past 12 months.

Leidos: Software and Cybersecurity Powering Modern Defense

The need for offensive and defensive solutions applies to software as well as hardware. Leidos (NYSE: LDOS) represents the software side of the modern defense industry. The company focuses on modernizing U.S. government IT systems, cybersecurity, engineering and professional services, along with offerings in IT, analytics and mission-critical systems.

In 2025, Leidos was awarded a multi-year contract with the U.S. Transportation Security Administration. Investors felt the near-term impact of that contract in the company’s Q4 2025 earnings report.

Leidos missed revenue expectations largely because of the six-week government shutdown in 2025. Looking ahead, management has pointed to the Golden Dome project as a potential catalyst in 2026 and beyond. The company is also expected to triple capital expenditures to $350 million, which appears to be a prudent investment to expand production capacity and upgrade classified facilities.

That said, LDOS is down about 20% from its YTD high amid concerns that advances in artificial intelligence could disrupt cybersecurity companies, and some analysts have trimmed price targets. Still, the consensus price target for LDOS is $208.27, more than 30% above the stock’s mid-April level.

Huntington Ingalls: Shipbuilding Strength Meets Next-Gen Tech

Huntington Ingalls (NYSE: HII) blends traditional shipbuilding expertise with next-generation technologies. The company’s shipbuilding capabilities align well with the America’s Maritime Action Plan (MAP), a sweeping blueprint to update and expand U.S. shipbuilding capacity.

Even before the MAP announcement, Huntington Ingalls forecasted up to $50 billion in new government contracts over the next 24 months. For context, the company generated just over $12 billion in revenue in 2025.

Huntington Ingalls is also growing a Mission Technologies segment that includes AI, cyber defense and unmanned systems. That segment accounted for roughly a quarter of the company’s revenue in 2025 and is expected to expand in the coming years.

HII is the momentum pick in this group. The stock is up about 15% in 2026 and is trading slightly above its consensus price target of $383.22. Analysts have been raising price targets ahead of the company’s May 7 earnings report, suggesting there may be additional upside for a stock that is drawing significant interest from institutional investors.

This ad is sent on behalf of TradeSmith at 1125 N. Charles Street, Baltimore, Maryland 21201. If you’re not interested in this opportunity, please click here.

If you have questions or concerns about your newsletter, please don’t hesitate to contact MarketBeat’s U.S. based support team at contact@marketbeat.com.

If you no longer wish to receive email from DividendStocks.com, you can unsubscribe.

Copyright 2006-2026 MarketBeat Media, LLC. All rights reserved.
345 North Reid Place, Sixth Floor, Sioux Falls, S.D. 57103-7078. USA..

See Also: Crash Expert: “This Looks Like 1929” → 71,048 Diversifying Here(From Masterworks Administrative Service LLC)

RJ Hamster

Silver is down 3%. The deficit didn’t move.

April 30, 2026 ● REGIME READ: ACCUMULATION ●

GOLDENMY

THE DISPATCH · WEALTH PROTECTION INTELLIGENCEAu $4,523·Ag $72.81·DXY 99.40

The Dispatch

SILVER BRIEF · THREE INPUTS, ONE MORNING

Three macro inputs are resolving inside a twelve-hour window this morning, and they are not telling the same story. At 8:30 a.m. ET, the Bureau of Economic Analysis releases the Q1 2026 GDP advance estimate — the first official confirmation of whether the Hormuz oil shock has pushed U.S. growth into stagflation territory. At the same moment, COMEX May silver hits First Notice Day: the point at which holders of paper contracts must declare whether they intend to take physical delivery or roll their position. And yesterday, in what should have been a routine hold, the Federal Open Market Committee voted 8–4 to keep rates at 3.50–3.75% — the most internally divided Fed meeting since October 1992, per the Federal Reserve’s own release. The headline was a hold. The vote told a different story.

Three of the four dissenters — Cleveland’s Hammack, Minneapolis’ Kashkari, and Dallas’ Logan — voted to remove the easing bias from the statement entirely, signaling they see no path to rate cuts in this cycle. The fourth dissenter, Governor Miran, wanted an immediate cut. Kevin Warsh walks into the Fed chair on May 15 inheriting a committee that is simultaneously arguing for tighter policy and looser policy at the same table. The Atlanta Fed’s GDPNow model sat at 1.24% annualized as of April 29 — its final nowcast before this morning’s BEA print, per FRED. That is not a contraction. It is not growth. It is the number that appears on the growth side of a stagflation confirmation: output barely moving, inflation at 3.3% year-over-year per the March BLS report, and oil above $106 a barrel keeping both conditions locked in place.THE REGISTRYCOMEX May silver open interest: 134.8 million ounces as of April 27, per CME Group futures data. Registered silver physically available for delivery in approved vaults: 77–80 million ounces. Coverage ratio: approximately 13–14% — below the 15% historical stress threshold for six consecutive months, per CME Group data tracked by goldsilver.ai. FOMC dissents: 4 — highest since October 1992, per the Federal Reserve’s April 29, 2026 statement. GDPNow final Q1 nowcast: 1.24% annualized (Atlanta Fed, April 29). Three numbers. Three separate markets. All pointing at the same underlying tension.

Silver closed at $72.81 yesterday — down more than 3% on a session driven by Hormuz rate fears. First Notice Day does not move on Hormuz headlines. It moves on how many holders of those 134.8 million paper ounces actually want the metal.

The Backdrop

JANUARY 1980 · WHEN THE COVERAGE RATIO BECAME THE STORY

The financial press will spend this morning parsing the GDP headline number. That is the right number to watch for what it tells you about the macro narrative — whether the word stagflation graduates from analyst commentary to official data. It is the wrong number to watch for what it tells you about silver’s physical market. The GDP print moves futures prices in Chicago. It repositions managed money. It adjusts rate-cut probabilities on trading screens. None of that changes how many ounces of registered silver sit in COMEX-approved vaults this morning. That number was determined weeks ago by miners, refiners, and vault holders who made their registration decisions before the GDP data existed. The paper market and the physical market are answering different questions today, and conflating them is how investors misread the signal.

The anchor is January 1980. Silver had run from roughly $16/oz in October 1979 to $49.45 on COMEX by January 21, partly driven by the Hunt Brothers’ accumulation of physical positions the paper market had not priced. When the COMEX imposed Silver Rule 7 that January — restricting new long positions to liquidation-only — the corner broke and silver collapsed to $10.80 by end of March. The lesson most people take from 1980 is about leverage and cornering. The lesson that matters for today is about the coverage ratio: when the gap between paper obligations and deliverable physical gets thin enough, the settlement mechanics themselves become the price-determining event, not the macro news cycle. The World Silver Survey 2026, published April 15 by the Silver Institute and Metals Focus, confirms that 762 million troy ounceshave been drawn from above-ground silver stocks across five straight annual deficit years. The sixth consecutive deficit — projected at 46.3 million ounces — is running now. That structural drawdown does not pause for a GDP print.THE REGISTRYFive consecutive annual deficits totaling 762 million troy ouncesdrawn from above-ground silver stocks, per the World Silver Survey 2026 (Silver Institute & Metals Focus, April 15, 2026). Sixth deficit projected at 46.3 million ounces. COMEX registered coverage ratio below 15% for six consecutive months. In October 2025, during the London silver liquidity squeeze, approximately 83% of LBMA vault silver was tied to exchange-traded products and unavailable to support physical settlement — per the Silver Institute, which formally described it as an “unprecedented liquidity squeeze.” That event proved what a low coverage ratio looks like when it becomes the settlement problem rather than a monitoring statistic. The monitoring statistic is still below that threshold today.

Silver’s dual nature is what makes today’s setup specific. The paper price is being driven down by the monetary side: Hormuz keeps oil elevated, elevated oil keeps inflation above the Fed’s target, above-target inflation keeps rates higher for longer, and higher rates make non-yielding paper silver less attractive to futures traders. That chain is real and it is operating right now. What it does not touch is the industrial side of silver demand — the manufacturers of solar panels, medical devices, and defense electronics who buy silver because their production schedules require it, not because the futures curve is favorable. China’s silver imports ran 173% above the 10-year seasonal average in March 2026, per trade data, driven simultaneously by retail buyers priced out of gold and industrial buyers accelerating purchases ahead of a domestic policy deadline. Two entirely separate buyer groups arrived in the same month. The paper selloff did not reach them.

The futures price tells you what traders think silver is worth this morning. The coverage ratio tells you how much physical metal is actually available to settle those opinions. At 13–14%, there is less room between those two numbers than at any point in the last six months.

The Protection

THE SILVER BRIEF

What the informed holder reads in this morning’s setup that the paper trader does not: the Hormuz-driven rate fear and the structural silver deficit are operating on separate timelines. The rate fear is a daily repricing — it moves with each diplomatic headline, each Fed speaker, each oil tick. The deficit is a multi-year accumulation that the World Silver Survey documents annually and that no single rate cycle has reversed since it began in 2021. When a daily repricing pushes the price below where the multi-year math suggests it should trade, that gap is not a market correction. It is a dislocation. Dislocations in physical commodity markets tend to close on the physical market’s timeline, not the paper market’s. A holder of allocated silver in a named vault is not exposed to the Hormuz rate-fear timeline. They hold through it — the same way a sovereign treasury desk holds through a four-day paper selloff because its purchase mandate runs on a four-year horizon, not a four-day one.

At $72.81, the paper market is offering physical silver at a price the supply-demand math does not independently generate. The sixth consecutive annual deficit is running. The coverage ratio has been below the stress threshold for half a year. China’s industrial and retail buyers arrived simultaneously in March. That gap between the paper price and the structural picture closes one of two ways: the paper market is right that rate fears will suppress demand long enough to close the physical deficit, or the physical market is right that 762 million ounces of cumulative drawdown and a 13% coverage ratio eventually reassert themselves against the futures price. Those two outcomes are not equally supported by the evidence currently on the tape.WEALTH CHECKThe gold-to-silver ratio sits at approximately 62:1 this morning — one ounce of gold buys 62 ounces of silver. The modern-era mean is roughly 47:1. If gold holds at $4,523 and the ratio reverts to that historical average, silver prices to approximately $96. That arithmetic — forward check: $4,523 ÷ 47 = $96.23; reverse check: $96 × 47 = $4,512, within rounding — is not a price target. It is what mean reversion looks like in this ratio when the physical supply-demand picture is running six consecutive deficit years and a 13% coverage ratio simultaneously. Anyone holding physical silver through this paper selloff is holding through the paper market’s timeline toward the physical market’s.

The coverage ratio on Friday, May 1 — after this morning’s First Notice Day activity fully clears — is the number worth checking. If it held at 13–14%, the structural picture is unchanged. If it shrank, the paper-to-physical gap narrowed by one more delivery month.

The Watchlist

THREE SIGNALS ON THE TAPEMONEY REGIME■■■Yesterday’s 8–4 FOMC split — the most dissents since October 1992, per the Federal Reserve’s official release — is being reported as a dramatic hold. The more important read is what it hands Warsh: a committee where three members believe cuts are off the table entirely and one believes a cut was needed yesterday. That is not a divided Fed on the margin. That is a divided Fed on the direction of the next move. The last time the FOMC was this internally fractured, gold was below $350. Warsh takes the chair May 15 with no working consensus on what policy should do next. A new chair who cannot establish internal committee alignment cannot establish external market credibility. Market credibility is what makes tighter policy possible. This is the institutional risk that does not appear in the rate-hold headline.SOVEREIGN BID■■■Gold fell roughly 4% this week on paper selling driven by Hormuz rate fears. Central bank purchase mandates do not reprice on a four-day paper move. Poland’s target is 700 tonnes; it sits at 570. Korea re-entered the gold market this quarter for the first time since 2013. The World Gold Council projects 850+ tonnes of sovereign purchases for 2026. None of those mandates were revised when gold touched $4,523 yesterday. When paper creates a lower price than the structural bid is running at, sovereign treasury desks tend to view it as a calendar event, not a crisis. That is not the same story repeating. That is the story expanding its perimeter.PHYSICAL LEDGER■■■COMEX gold registered stocks held at 15.7 million ounces through April 24, per CME Group daily warehouse reports, even as the paper price fell nearly $200 from its April high. The physical inventory did not follow the paper selloff into the vaults — which is the relevant observation. When paper sells hard and registered inventory holds steady, the selling is in the futures market, not in the physical market where the metal lives. The question for June — when May open interest rolls forward — is whether delivery pressure migrates into the next contract or dissipates. If it migrates, the gap between paper price and physical availability shows up one contract later.

The informed act first.

— M. THORNE · GOLD MARKETS STRATEGIST —

Forward the dispatch to someone
who values intelligence over noise.

Update your email preferences or unsubscribe here

228 Park Ave S, #29976, New York, New York 10003, United StatesTerms of Service

Author:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Tariffs Rose: 1 Steelmaker Thrived, 1 Still Struggles

Key Points

Why Steel Tariffs Aren’t an Automatic Buy Signal

The Old Model and the New Model

How the Business Models Showed Up in Earnings

Where and Why Investors Need to Look Before They Leap

Up 775% in 5 Months, How Much Higher Can Syntec Optics Go?

Key Points

Syntec Optics Is Turning a Corner

Syntec Optics Comes With Considerable Insider Risk

Share this:

Like this:

Kinder Morgan’s Cash Flow Drives Upside: Potential Swells in Q1

Key Points

Kinder Morgan Is a High-Quality Growth (and Cash Flow) Machine

Analysts and Institutions Underpin KMI Stock Price Rally

KMI Uptrend Intact: Market Tests Critical Support

Investing in Rare Earth Elements: How the REXC ETF Bypasses China’s Dominance

Key Points

Global Demand for REEs Continues to Grow

The ETF Providing a Rare Opportunity for Rare Earths

The REXC’s Targeted Exposure Comes With Caveats

Share this:

Like this:

Coca-Cola’s Q1 Results Prove It’s a Good Buy to Hold and Hold

Key Points

Coca-Cola Stock Trades at Value Levels in 2026

Distribution Growth Makes KO a Great Stock for Compounding

Coca-Cola Moves Higher as Organic Strength Shines

PepsiCo Stock Reversal Points Toward New All-Time Highs

Key Points

PepsiCo on Track for New All-Time Highs This Year

PepsiCo Grows and Outperforms in Q1: Capital Returns Are Safe and Reliable

Share this:

Like this:

3 Biotech Stocks That Could Benefit from the Patent Cliff

Key Points

Acquirable Assets: Which Biotechs Deserve a Higher Floor

First-Mover Advantage in Gene Editing

High-Risk, High-Reward In Vivo Editing

Precision Gene Editing’s Next Frontier

Google Cloud Next 2026 Event Bets Big on AI Infrastructure

Key Points

The 8th-Generation TPU: 2 Chips for the Agentic Era

Vertex AI Is Now the Gemini Enterprise Agent Platform

Workspace Intelligence and the Enterprise Distribution Advantage

The Numbers Behind the Conference

Share this:

Like this:

Share this:

Like this:

Worst News for Stocks in 50 Years

Why Anthropic’s Custom Chip Plans Could Benefit Broadcom

Key Points

AI Chip Development: Why Anthropic’s Exploration Could Include Broadcom

Expanding Beyond TPUs? Why Broadcom Could Benefit

Anthropic’s Potential Custom Chip: All Smoke, No Fire at This Point

Defense Budget Expansion: 3 Mid-Cap Names in a Sweet Spot

Key Points

Kratos Defense: A Pure Play on Autonomous Warfare Growth

Leidos: Software and Cybersecurity Powering Modern Defense

Huntington Ingalls: Shipbuilding Strength Meets Next-Gen Tech

Share this:

Like this:

Share this:

Like this: