Space company fined millions by the SEC

The SPAC beating continues...
Yesterday's news regarding the latest marijuana legalization bill wasn't what investors were looking for...

And apparently, cannabis has a tougher road ahead than many assumed.

Traders loaded up on pot stocks the day before - you know, to get in "early" - only to be disappointed as they fell further.

Like clockwork, the headlines read as if the drug and its associated industries were hopeless...

...That's always a signal to buy.

And as you buy it up, be sure to check out Dr. Moors newest Spy Tale about the wild "course" he completed while training for his role as an intelligence officer... Could you get through it?

Read more at the link below.

Keep moving,
Did you buy at the wrong time, or at the wrong price? Both factors are essential when it comes to trading options.

Options Coach Chris Hood shows you what to look for so you can buy options at a discount.
WORD ON THE STREET
Shares of Yoga Pants, SPAC(e) Spanking, No Weed for Joe

  • Tight Fit IPO - Actress Kate Hudson could be swimming in greenbacks soon as new reports show that athletic apparel brand Fabletics is looking to raise close to $500 million in an initial public offering. The IPO is slated to give the company a $5 billion valuation with the who's who of Big Banking - Morgan Stanley (MS), Goldman Sachs (GS), Barclays (), and Bank of America (BAC) - as the supporting cast. Who needs The Black Crowes when you've got chick-flicks and spandex?

  • Inquiries Turn into Investigations - Regulators aren't pleased with blank-check Stable Road Acquisition (SRAC) and its merger target Momentus. Both the space transportation and satellite start-up and Stable Road Acquisition along with the SPAC's CEO Brian Kabot have agreed to pay $8 million for misleading investors. Adding to the claims alleged by the SEC is the concern over national security risks due to former Momentus CEO Mikhail Kokorich whose lawyer stated they would be going to court to fight the charges. Luckily, all investors will be able to get their investments back.
  • WEED - Pot stocks were iffy during the Wednesday trading session after the White House stated that the Biden Administration still wasn't supportive of the new cannabis legalization bill just moments after it was presented by Senate Majority Leader Chuck Schumer. Press Secretary Jen Psaki told the media that "nothing has changed." Many analysts found this to be of no surprise as President Biden has been opposed to recreational use of the drug for some time. Sorry folks, they tried.

  • Streaming Earnings Blowout (Not Netflix) - Micro-cap streaming TV and digital marketing company Cinedigm (CIDM) turned heads on Wednesday after market close when the company reported preliminary Q4 earnings. The company shocked investors when CEO Chris McGurk commented that Cinedigm saw a 331% year-over-year increase in ad-supported revenues and a 197% increase in streaming channel revenues. If that wasn't enough, the company announced reaching an agreement with AMC Entertainment (AMC) for sales of legacy digital equipment worth $10.8 million through 2023. Still never heard of it.
Did you miss Options Coach Chris Hood's landmark event? Chris does a deep dive into his cornerstone strategy that has been paying him every week for years...

Click below to watch now.
HOT SPOTS: What's Going on in Geopolitics

  • US COVID-19 Cases Double Over Three Weeks - Here we go again? The number of new cases in the United States has roughly doubled over the last three weeks. The highly contagious "Delta" variant is to blame. On June 23, there were just 11,300 confirmed infections in the USA. Earlier this week, that number was 23,600.

  • China Begins Military Flights From South China Sea Bases - Two islands in the South China Sea are still being disputed by several powers. However, that hasn't stopped China from beginning military flights from these areas. This includes using both helicopters and other aircraft. American officials say this violates a 2018 pledge made by China - but does anyone think the People's Republic is going to care?

  • President George W. Bush Condemns Afghan Pullout - Former president George W. Bush, the man who began the Afghan intervention, said that the consequences of a pullout from Afghanistan will be "unbelievably bad." "It seems like they're just going to be left behind to be slaughtered by these very brutal people," the former president said of Afghans who had backed the Americans and their likely fate at the hands of the Taliban. The Taliban continues to claim territory, capturing a border station with Pakistan.
CUTTING EDGE: What's Happening In Tech

  • Chip Shortage Leading To Massive Fraud - The computer chip shortage is still plaguing the global economy, and there are no signs it will end anytime soon. The results are predictable. 3-D printers and others who are sourcing microchips are getting parts that don't work. The chaos will only add to the already crippling supply shortages.

  • AI Working On Veggie Burgers - Vegetarian "hamburgers" are spreading quickly due to positive media and concerns about climate change. But... sometimes they just don't capture the taste. Firmenich, a Swiss group, is using Artificial Intelligence to recreate the sensation of tasting beef. Algorithms can generate thousands of possibilities... even before the first test is brought before a chef. Uh, I'll just take a salad.

  • Tarantula Venom Turned Into Pain Reliver - I'd love to have been at the first meeting discussing this. Researchers at UC Davis are turning peptides created by tarantula venom into a new pain reliever. "We expect it to be a game-changer really," research team member Phuong Nguyens said. Some data suggest it could be as potent as morphine without the side effects of opioids.
Daww, don't you trust this little guy to take away all your pains?
FOR YOUR CONSIDERATION

"IOC was one of the toughest things I have ever done. It was not only because it was physical. Rather, it was worse, playing on your mind and emotions."

Thrown into a prison cell. Tortured. Interrogated. Those counterintelligence agents who work in the field need to know how to survive such conditions. The Internal Operations Course teaches people how to do just that. Dr. Kent Moors tells the story in this week's Spy Tale.

BEFORE THE BELL
Delta Air Lines (DAL) and other airlines have been on everyone's radar for some time since the pandemic hit, but I'm wondering if we're beginning to feel a sense of deja vu because of - oddly enough - the delta variant.

DAL presents a head-and-shoulders pattern and is now trading under the 200-day simple moving average (green) and you can see the pattern drawn out in white. The white, dotted trendline shows the recent break of the neckline.

Now, to the left of the neckline is a gray bubble showing a sizable gap at the ~$32.00-$34.00 level.

If the share price can regain the recent support close to ~$43.00, it could continue moving up before hitting more resistance.

However, if it fails, the next stop is ~$37.50 with potentially more pain below it.

-Corey

(Disclosure: I hold no position in DAL.)
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