A Veru Good Day

April 12, 2022 Good morning traders, Welcome back to The Daily Setup. Markets were down yesterday over concerns about inflation. Here’s what’s on the docket: - Veru has a covid testing breakthrough - Shopify is planning a 10-1 stock split - SailPoint Tech is being bought Odds are we’re in for another rough one with CPI figures being reported today, so buckle up and let’s get to work. Nick How'd the markets look? Market Outlook A Veru Good Day Biggest Mover [Activision Blizzard, Inc. ]( To say shares of Veru Inc. (ticker: VERU) started off the week hot would be a major understatement. The stock traded higher than your stoner friend on 4/20, was halted multiple times, and gained as much as [235%]( before closing up [182.3% to $12.28](. The catalyst for the move was overwhelmingly positive results from the company’s Phase 3 oral Covid drug trial. - [Veru’s drug sabizabulin](, which sounds like an island in the Mediterranean where rich people go to party, was tested on 150 hospitalized patients at high-risk for Acute Respiratory Distress Syndrome (ARDS). - [The company said](, “oral sabizabulin led to a ‘clinically and statistically meaningful’ 55% reduction in deaths.” The placebo group had a 45% mortality rate as compared to the 20% mortality rate of the treated group. - With no safety concerns noted from the trials, the Independent Data Safety Monitoring Committee suggested the trials be halted due to sabizabulin’s efficacy. Veru will meet with the FDA to discuss emergency authorization of the drug. Veru’s sabizabulin is just another weapon in the fight against Covid and should keep shares of Veru propped up for the foreseeable future. For much of the second half of 2021, VERU put in significant highs in the [$9.25-$10.25]( range. A pullback to those levels could be a low-risk way to get long the stock with a tight stop below the $9 price point. Keep your eyes and ears open for news of any FDA announcements related to sabizabulin. Shopify- Time to split Street Stories [Cycling Downhill] Shopify is planning to warm up, get a nice stretch in, and then perform a [10-1 stock split](. Shareholders need to approve the move first, but if they do the split will offer new, non-transferrable founder shares to CEO Tobi Lutke to increase his voting authority. The new shares, when combined with his already held Class B shares, would give Tobi 40% of the voting power. - On the news, Shopify shares fell 0.5%, and are now down 50% YTD. - Shopify joins some other big tech players in offering a recent stock split, including [Amazon, Alphabet, and Tesla](. - If approved, investors get 9 class A or B shares for every share of the opposite that they previously held. In my opinion, a stock split is good news for retail investors that want a piece of the Shopify pie. It’s clear Shopify is using the split to keep the CEO making all the calls when it comes to decision making, but we can’t quite rule out that they also want to get in on some of the meme-madness retail action. Bored yet? Token Talk [Token Talk] Just when we thought Morbius would be the worst movie we talked about this year, Bored Ape Yacht Club, (yes, the NFT project) [announced]( it would be filming a movie trilogy that no one asked for. Good news for Bored Ape owners, you won’t have to fund it. That honor falls to Coinbase, which will be testing out a new media department. Why they’re branching out into media is anybody’s guess, they must have seen how easy it is to get a Netflix special. - The first film is set to be released at NFT.NYC, which, presumably, is New York’s answer to Miami’s claim to the crypto crown. - Owners that want their Apes featured need to send a photo of their Ape, along with a character description, which will be reviewed by a casting director that actually gets paid to cast real movies. - Bored Apes aren’t alone, as Mutant Apes will also be creating a series of short films, further proving that creativity is dead and all that’s left are remakes. While many are left scratching their heads over Coinabase’s foray into the silver screen, Coinbase will be capitalizing on the releases. It will tie the new films to its NFT marketplace, which was [announced in October](, but has yet to launch. The films will also help Coinbase build its customer base, requiring users to have made a wallet in Coinbase before viewing the videos. Sailing Higher Deals and Rumors [Deals and Rumors] Shares of cybersecurity firm SailPoint Technologies (ticker: Sail) hit high tide yesterday for a [20.6%]( gain on news that they have agreed to be taken private by PE firm Thoma Bravo. The stock was already having a strong start to the year in comparison to the overall market, [up 2.6% YTD]( compared to the SPX, which was down 1.25% through Friday. The $6.9B deal (nice) [is expected to close]( in the second half of 2022. - Thoma Bravo, which last month closed a $10.7B takeover of software company Anaplan, will be paying a [48% premium for SailPoint]( based on the company's 90-day volume weighted average trading price. - [According to SailPoint CEO and founder Mark McClain](, “This transaction delivers significant immediate cash value to our stockholders and maximizes the value of their shares.” Just another stock I was not long before a deal was announced. That makes me 0-for-my lifetime. - The deal contains a go-shop period until May 16th where SailPoint can solicit other companies for a better deal. As is always the case, once a company is being taken private, the upside to continue trading that stock until the deal closes is minimal. This is just one of many cloud-related software companies that have been scooped up by PE firms since the start of the year. Citrix, Nielsen, and McAfee are some of the others. Keep an eye on the cloud-computing sector as PE firms seem to be eager to get their hands on these types of companies as remote-work environments look to be here for good. Link Roundup Other News + EV Companies Not Happy They Actually Have to Deliver Cars - NIO Warns of Delivery Delays ([link]() + I Just Discovered People Still Watch Shows on Discovery - Warner Bros. Discovery Opens at $24.08 in IPO Debut ([link]() + Talk About Kicking the Commies While They’re Down - Societe Generale to Exit Russia, Sell Rosbank ([link]() + Please Ignore the Fact We Were Delisted in the U.S. Over Security Concerns Chinese Oil Giant to Raise $4.4B in Shanghai Listing ([link]() + Elon Planning a Takeover? - Elon Musk Abandons Plan to Join Twitter Board ([link]() + Today might suck - The White House expects CPI numbers to be ‘extraordinarily elevated’ ([link]() Meme of the day I also, do not want a background check, [via @KennethDredd]( [other news] 62 Calef Hwy #233 Lee, New Hampshire 03861 United States Questions or concerns about our products? Email our team here support@thedailysetup.com © Copyright 2022, [RagingBull]( - [Refund Policy]( - [Privacy Policy]( - [Terms & Conditions]( SPONSORED AD PLACEMENT: This email contains an advertisement by a party that is unaffiliated with Raging Bull. 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