Stock Market Manager Weekly Update: July 10th, 2023

Weekly UpdateJuly 10th, 2023

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Breaking News

Nasdaq rebalance is coming July 24th, but what does it all mean??? The magnificent 7 which makes up 55% of the index (Microsoft, Apple, Nvidia, Tesla, Google ,Meta and Amazon) have led anything good that has happened in recent times in the NASDAQ 100, so the powers that be will now clip their weighting wings in the hopes that the index will be more representative of what’s happening across the broader NASDAQ 100.  This doesn’t change anything about what’s really happening in the market however, and your p[portfolio won’t be worse or better off.

That could be why your performance seems to lag the indexes however.

Stocks overall are mixed and overshadowed by Inflation data. The S&P 500 (^GSPC) slipped below the flatline, while the Dow Jones Industrial Average (^DJI) traded up 0.4%, or more than 130 points. The tech-heavy Nasdaq Composite (^IXIC) fell 0.24%.

Wall Street is looking ahead to US consumer and producer inflation reports due later this week, expected to show that price pressures are easing. That could nudge the Federal Reserve into easing up on rate rises later this year, though it’s still seen as likely to hike in July even after some cooling in the June jobs report.

Nasdaq 100 Plans Special Rebalance To Curb Dominance Of ‘Magnificent Seven’

The Invesco QQQ ETF (QQQ), which tracks the big-cap Nasdaq index, was up 37.5% in 2023 through July 7. The First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW), which gives an equal weight to all 100 stocks, is up just 18.8%.

This largely reflects massive moves by megacaps this year. NVDA stock has nearly tripled (191%). META stock has soared 141% while TSLA stock is up 123%. AMZN stock has leapt 54.5%. AAPL stock has run up 47% and MSFT stock nearly 41%. Google stock is up a still-robust 35%.

Check it out here

Corporate News

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6-29/-23 Antibe Therapeutics, Inc. (OTCQX ATBPF)
Year-End Results and Business Highlights

ompleted transition to otenaproxesul’s new formulation; tablet manufacturing underway
– PK/PD study results expected in calendar Q4 2023 with Phase II initiation in Q1 2024
– Ended year with $38.9 million in cash and equivalents

TORONTO, June 29, 2023–(BUSINESS WIRE)–Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical-stage company leveraging its hydrogen sulfide platform to develop next-generation therapies to target inflammation, has filed its financial and operating results for the fiscal year ended March 31, 2023.

“We made excellent progress in the year, much of it behind the scenes,” commented Dan Legault, Antibe’s CEO. “Foremost is the successful transition to otenaproxesul’s faster-absorbing formulation, a significant step that involved launching a new production process in a new plant. With comprehensive liver safety modeling in hand, we’re making final preparations for a short PK/PD study to finalize dose selection for the Phase II bunionectomy trial. We also completed candidate selection and a patent application filing for our IBD program and identified a new family of promising anti-inflammatory compounds. With our strong balance sheet, we’re poised to deliver shareholder value in the coming year.”

Read Complete Release

4-19-2023 Can B Corp. (OTC CANB)
Reports Growth of 45% to Company All-Time High $6.7 Million Annual Revenue

Led by Significant Increase in Duramed

Adjusted EBITDA Loss Decreased by 25% to $2.1 Million

HICKSVILLE, NY, April 19, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, today announced the Company’s financial results for the twelve months ended December 31, 2022.

Key Financial Highlights for 2022

  • Revenue increased 45% to $6.7 million.
  • Gross profit decreased 13% to $2.6 million.
  • Gross margin decreased to 39.1%, due to a higher revenue percentage mix from Duramed.
  • Adjusted EBITDA loss decreased by 25% to $2.1 million.
  • Accounts receivable at $6.6 million.
  • Inventory at $2.0 million.
  • Total assets at $15.6 million.
  • Total stockholders’ equity at $2.7 million.

Read Complete Release

Coeptis Therapeutics Holdings, Inc. NASDAQ (COEP)
Coeptis Therapeutics Signs Agreement to Acquire Allogeneic Immuno-Oncology NK Platform in Phase 1 Clinical Trials from Deverra Therapeutics

Proposed transaction would provide Coeptis with two clinical stage assets leveraging NK cell therapies in relapsed or refractory acute myeloid leukemia (AML) and hospitalized respiratory infections, as well as preclinical programs for hematologic and solid tumors

Clinical data from AML Clinical Trial Expected during 2H 2023

WEXFORD, Pa. , April 18, 2023 /PRNewswire/ — Coeptis Therapeutics Holdings, Inc. (NASDAQ: COEP) (“Coeptis” or “the Company”), a biopharmaceutical company developing innovative cell therapy platforms for cancer, announced it has entered into a binding term sheet with Deverra Therapeutics, Inc. (“Deverra Therapeutics”) pursuant to which it has obtained an exclusive right, until August 31, 2023, to negotiate towards the acquisition or license of assets from Deverra Therapeutics related to its proprietary allogeneic stem cell expansion and directed differentiation platform for the generation of multiple distinct immune effector cell types, including natural killer (NK) and monocyte/macrophages. Deverra Therapeutics is currently advancing clinical programs investigating these technologies in relapsed/refractory acute myeloid leukemia (AML) or high-risk myelodysplastic syndrome (MDS) and patients hospitalized with respiratory viral infections.

Read Complete Release

3-15-2023 Can B Corp. (OTC CANB)

Can B Corp. Completes Corporate Debt Restructuring to Position for Uplisting to National Securities Exchange

HICKSVILLE, NY, March 15, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products and durable medical devices, is pleased to announce it has successfully completed a corporate debt restructuring.

Through the restructuring, Can B raised $1.55 million of new capital and extended previously due notes payable totaling $7.0 million to September 1, 2023, and December 31, 2024.  Specifically, three Promissory Notes issued to three funds in early 2022 and three Promissory Notes issued to three private investors in late 2022 were restructured to extend maturity dates to late in 2023 to give the Company an additional window to deploy the capital from the new raise.

Read Complete Release

3-6-2023 International Food and Beverage (OTC IFBC)

See the latest investor package. Dino is really getting traction.

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July 10, 2023
Coeptis Therapeutics, Inc. Ecrid, Inc (ECDD)   Profile        
Antibe Therapeutics, Inc (ATBPF)  Profile 11/11/2018 News
Can B Corp (CANB) Profile News
Endurance Exploration Group, Ltd (EXPL)  Profile   03-26/19 News
International Food and Beverage Profile

How Have Expert Stock Selection ETFs Performed in this Decade Thus Far?
June 26, 2023 by Herb Blank

Throughout my career, I’ve heard professional investors assert that index funds are fine for bull markets but in volatile-to-down markets, active management will outperform.  SPIVA (S&P vs. Global) published research available from S&P Global has demonstrated that this was not true for actively managed mutual funds for 2022, and less true for the 2020-2022 period.  I take that with a grain of salt because it compares an index to traditional mutual funds that have a costly structure.  

In my article available on the ValuEngine website, I explain why the redeem-at-distributor model costs investors in the average equity mutual fund more than 2.0% in return per year.  I believe the fair comparison is actively managed ETFs to an efficient S&P 500 ETF such as iShares’ IVV or Vanguard’s VOO.  Once the structure issue is neutralized, then it is a fair comparison.  Although actively managed ETFs are one of the two fastest growth areas in the industry, many have short histories as the trend toward well-known managers providing active selection in the ETF structure did not really get going until the last few years.  Prior to that, a few “smart stock selection” ETFs “indexized” expert stock selection.  This week, we look at two of those ETFs along with two actively managed ETFs that follow quantitative disciplines.  The common theme is expert stock selection.

Read complete report here

 ValuEngine new strategies, Podcast introduction
ValuEngine Capital Management LLC (VECM) is pleased to announce the addition of Jordan Kimmel to the team as the new Chief Equity Strategist and portfolio manager. VECM is a Registered Investment Advisor (RIA) that invests based on the proprietary, quantitative research produced by ValuEngine Inc. It is an important partnership between two companies: ValuEngine conducts research, and ValuEngine Capital Management LLC actively trades client funds using this research.



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