Daily Brief United States: Myshell, SK Growth Opportunities , Gold, Bitcoin, Globalstar Inc, Wheaton Precious Metals and more

• Ethan is the co-founder of Myshell, a company focused on AI technology in various sectors such as computer vision, deep learning, and robotics
• Myshell aims to empower creators on their platform to use multiple AI models to create unique and personalized experiences for users
• The company offers a diverse range of chatbot characters with unique personalities and voices, allowing creators to engage with users in a more interactive and personalized way.

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• On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma enterprise value of about $7.3 billion. 
• WeBull had 4.3 million funded accounts and  $8.2bn in assets under custody at end of 2023. In comparison, Robinhood had 23.4mn funded accounts and $102.6bn in assets under custody. 
• Given the numerous material concerns about this deal, we would avoid it. There are no financials including income statement and balance sheet of WeBull in the prospectus. 

• Gold price has rallied to new highs, but market cap of US’s biggest gold ETF has shrunk
• Push higher driven by quick money inflows, fundamental/ETF inflows, safe haven bid, technical drivers, FOMO
• Physical demand from central banks and Chinese retail buyers has been strong, but recent rally seems driven by financial quick money inflows

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• This week is off to a great start.
• Bitcoin surged past $70,000, and Ethereum exceeded $4,000 today, marking a new all-time high for Bitcoin and Ethereum’s first breach of this level in over two years.
• At the office, there is a running joke that the crypto bull run has made me overly confident, leading my colleagues to secretly hope for a downturn.

• GSAT is a telecom infrastructure provider with two core businesses: Mobile Satellite Services and spectrum holdings
• Despite progress and validation from companies like Apple and Qualcomm, the stock price does not reflect the value of the assets
• Recent developments, including partnerships and leadership changes, indicate a promising future for GSAT, despite past challenges and skepticism from institutional investors

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

On 20 February, Wheaton Precious Metals (WPM) announced that it had produced 14,615oz (15.2%) and sold 18,618oz (19.3%) more gold than our prior expectations for Q423, and produced 326koz (7.8%) and sold 530koz (20.0%) more silver. As a result, ahead of Q423/FY23 results scheduled for 14 March, we have increased our EPS forecast for Q423 by 25.3%, to close to the top of the range of market expectations for both the quarter and the full year.