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My name is Porter Stansberry. 

I’m the founder of one of the largest financial research firms in the world. Over the last 26 years we’ve helped investors navigate almost every major economic cycle. 

We’ve also been on the forefront of every big financial story from the rise of Bitcoin and MRNA vaccines to robotics and artificial intelligence – just to name a few. 

But today, I’m breaking the biggest story of my career…

An economic story the likes of which we’ve not seen in centuries. In fact, the last – and only time – this happened was in 1776. But now, on the eve of America’s 250th anniversary, it’s happening again. 

And as you’ll discover today, the aftershock of this event could “reset” not just your personal wealth, but the entire U.S. economic system: 

How you work, how you vote, how you protect and build your wealth… it’s all being turned upside down by what one famous Stanford economist says is: 

“The biggest change ever… bigger than electricity… bigger than the steam engine.” 

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To Trump’s strike on Venezuela… his deal with Greenland… his seemingly never-ending slew of executive orders… and increasingly centralized grip over the economy… 

All the way to the surging popularity of radical socialist politicians like Bernie Sanders, AOC, and Zohran Mamdani… 

It’s all deeply and inexorably intertwined in what is, without a doubt, the most consequential story of the year. 

A turning point that one Nobel Prize winner says is dividing not just the economy but our entire society.

And, as my guest and I explain, the financial decisions you make in the face of this New 1776 Moment… they could dictate whether you’re enriched, left stuck in the past, or potentially even impoverished by the seismic changes barreling down upon America.

The stocks to buy… the stocks to sell… and the three money moves to ensure you and your loved ones end up on the winning side of this new economic reality. 

It’s all laid out here for you…

Good investing, 

Porter Stansberry

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Special Report

Freeport-McMoRan’s Rally Is Over—But the Bull Case Isn’t

Authored by Chris Markoch. First Published: 3/6/2026. 

Key Points

• Freeport-McMoRan’s Grasberg restructuring secures operations through 2041 but reduces its economic ownership, creating both stability and lower earnings leverage.
• Rising copper demand from EVs, data centers, and electrification supports the long-term bull case for FCX stock.
• After an 80% rally in four months, technical indicators suggest FCX stock may pull back toward the $55–$57 range before its next move higher.
• Special Report: The biggest capital flow in American history (From Porter & Company)

Freeport-McMoRan Inc. (NYSE: FCX) entered 2026 riding strong bullish sentiment. The company is one of the world’s leading copper miners at a time when basic materials stocks, and mining stocks in particular, are viewed as relatively defensive investments.

After surging nearly 20% following its Jan. 22 earnings report, FCX has given back most of those gains. The stock recently closed near $62, hovering around its 50-day moving average of about $60.

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For investors who missed FCX’s November 2025 rally, this pullback may look puzzling.

A closer look, however, shows a more nuanced picture: the long-term bull case remains largely intact, which supports a buy-the-dip argument. That said, near-term valuation concerns and geopolitical complexity could push the stock lower before it resumes a sustained uptrend.

The Grasberg Factor: A Calculated Bet on Indonesia

The Grasberg mine in Papua, Indonesia, is among the world’s largest copper and gold operations, and it is central to the bull case for Freeport-McMoRan.

On Feb. 18, Freeport announced it had restructured its relationship with the Indonesian government. The company traded a majority economic stake in Grasberg to state-owned PT Indonesia Asahan Aluminium (Inalum) in exchange for operational continuity and a long-term contract of work.

The deal locked in Freeport’s right to operate through at least 2041, providing a long runway when you consider where copper demand is headed.

Investors rewarded the agreement, sending FCX to an all-time high within a week of the announcement.

As the stock has pulled back, some investors appear to be weighing the trade-off: Freeport now holds a minority economic interest in Grasberg rather than a majority, which reduces per-share earnings leverage from the mine’s output compared with its prior position.

Still, Grasberg’s ore body is vast and its copper and gold grades are rich, so even a minority interest will generate meaningful cash flow. The asset is not diminishing, and that cash flow should become more valuable as electrification increases demand for copper.

The Copper Demand Thesis Is Not Going Away

The long-term bull case for FCX ultimately rests on copper, and that story remains compelling. In 2022 the focus was on electric vehicles (EVs) and renewable energy infrastructure; by 2026 the narrative also includes grid-scale battery storage and data centers.

Copper demand is accelerating while supply is failing to keep pace for three main reasons:

1. New large copper deposits are increasingly rare.
2. Many remaining deposits are in geopolitically challenging regions.
3. Accessible mines still require years and billions of dollars to develop.

Freeport, with major assets in Arizona, Peru, and Indonesia, is among the few companies capable of supplying that demand at scale.

Analysts tracking the market broadly agree the structural deficit expected in the late 2020s hasn’t been fully priced in. Short-term macro noise—concerns about Chinese growth and the impact of higher interest rates on industrial demand—has weighed on sentiment, but the electrification tailwind is generational.

Gold Adds a Second Engine

Another element strengthening the FCX bull case is its exposure to gold. Grasberg is not a copper mine that happens to produce some gold; it is a true dual-commodity powerhouse.

That distinction matters now more than before. Gold is in a prolonged bull cycle driven by central bank buying, de-dollarization trends, geopolitical uncertainty, and investor demand for hard assets. Higher sustained gold prices make Grasberg’s gold output increasingly material to Freeport’s overall earnings.

Gold provides a partial hedge against copper price swings and adds a revenue stream that is less correlated with industrial demand. For long-term investors, that dual-commodity profile differentiates Freeport from many other major miners.

The Chart Is Sending a Warning Signal

The technical picture cautions against aggressive short-term positioning. FCX rallied from roughly $38 in October 2025 to just above $70 in early February 2026 — a gain of more than 80% in about four months — which typically requires a period of consolidation.

The MACD has turned bearish, with the MACD line moving below its signal line. Coupled with the stock breaking below its recent trading range, momentum currently favors further downside or, at best, a sideways grind before the next leg higher.

The 50-day moving average at $60.32 is the first meaningful support level. A sustained break below that would likely invite a test of the roughly $55 area, a prior consolidation zone on the way up.

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