What's going on moon gang, this is your dumb money update for today, wednesday november 17th. Now, in this particular update video, we will be covering quite a few things we'll be talking about how costly it is to get the naming rights to a basket hoops arena we'll be talking about the overall market, including crypto, and specifically one crypto project. That seems to be bucking the trend of the rest, we'll be talking about progenity, ticker, symbol p-r-o-g, because it is stirring up quite a bit of a buzz on social media. Recently we'll be talking about nvidia.

It just came out with its earnings report. That's definitely exciting and of course, we'll be doing a wrap-up on our two favorite moon stocks, both amc and gme. We have a couple important updates for you there. So with all that being said, let's hop right into it alrighty.

So apparently it is very expensive to get the naming rights to a basket hoops arena. Crypto.Com buys naming rights to lakers staples center in a 700 million dollar deal. This was announced today. The name chains will take effect on christmas day as the lakers host the brooklyn nets and the nba annual christmas day games.

The deal links crypto.com with one of the nba's top brands, offering crucial brand awareness as the cryptocurrency platform positions itself to capture market share. In the growing digital currency space i like this - i am a crypto bull and the more awareness we get out there. I think the better, but before we go into what's really going on with crypto, and all that i just wanted to point out how expensive this stuff is. So back in 1999, staples reportedly paid 116 for the naming of the arena for 20 years, and the current deal is the same time frame the next 20 years, except instead of 116.

We are now up to 700 million talk about inflation now with crypto. Recently, there's been a sell-off for many all-time highs to me, it's reasonable that we're seeing this right now, because we are running into three distinct headwinds regulations, talk in the u.s uh crypto, taxes that were stuck into the infrastructure bill and then a couple. Let's call them disparaging remarks from china as it relates to crypto, but really that's not new news when it comes to china's opinion on crypto, but anyway, bitcoin coming off of 69 000, currently trading at 60 ethereum coming off of pretty much 4 900 trading at 4. 200 and other ones also selling off.

This is the common pattern, but one of these is actually hitting a new all-time high and that's avax also known as avalanche, and this is some exciting news. Avalanche's avax token surges to all-time high after deloitte deal defying crypto trend, and that's exactly what it's doing. The token is up 85 percent in the past 30 days, pushing its market capitalization to 23 billion, with a b. What you need to know is that it was just announced yesterday from the founder of avalanche, that they are partnering with big4 accounting, firm deloitte to build more efficient disaster relief platforms using the avalanche blockchain.

So if you're excited about this, if you want to see what's going on, i implore you to do a little bit more dd on avalanche, but overall, it's a competitor to ethereum. It's running a smart contract, blockchain project and it's very focused on tokenization nfts. It is very much exciting things so for me, as i'm filming this, i do not own any avalanche but um as i'm personally learning more and more about it, i'm definitely tempted to kind of hop into this party. I would love to get your thoughts specifically on avax in a comment below so let's talk about the overall market kind of a boring day inside day for the s p 500, the high the low completely encapsulated within the high and the low of the previous day.

So no trend, it sounds like we're just kind of waiting for development, most likely on the political front. That's for 500 of the biggest companies in the u.s, the nasdaq 100, a little bit more tech heavy. We were looking pretty strong and then today the close in the open were essentially the same, so it was flat on the day the russell 2000, unfortunately a little bit more weak. Now, obviously, you could see a slight sloth.

We do have support at 234. The reason why i'm saying it's a bit unfortunate is because remember amc happens to be the biggest company within the russell 2000. So that's additional headwinds that our favorite movie theater chain is running into i'll, be talking about that more in just a second, but talking about other big things, headwinds uh, we know, elon, has been on a crazy twitter run recently really kind of calling out different senators And we know he left it up to a twitter poll to sell most people voted yes, and it seems about he's halfway through another day, another tesla stock sale for elon musk 8.8 billion over the past seven days. I think this is about halfway through uh is nearly halfway through his goal of selling 10 of his stake.

So remember with this he's not completely pulling the rip cord in reality, he's probably selling enough to cover the tax bill related to the options that he just exercised, but still, even with that 10, that's about 20 billion dollars we're at 8.8. So i don't expect this to really stop. I think, maybe next week the end of next week, he might be done by then, but uh looks like he's halfway through his goal, just so everyone's up to date there. Obviously, this is making a big impact on social media.

I mean he definitely knows how to use social media to his advantage, but in terms of what i've been seeing on social media recently, a lot of buzz around progenity p-r-o-g. This thing has been doing pretty well today, not the best day. A lot of people were excited early. This morning we were up above six dollars and we ended up closing closer to five dollars, four dollars and 88 cents, so based on the gap up.

Yes, it was still technically in the green, but it it did feel as if some of the wind was taken out of its sales. First of all, what i want to remind you is, i see a little bit of fun of people saying inside or selling did some insiders sell? Yes, a couple thousand shares don't forget a couple days ago the ceo bought like 1.4 1.5 million. So that's hey. I would rather take that net it's net positive for sure uh.

I just want to get that out there. So for me, am i long on this 100. I'm very excited to be along on it because i think it's upsetting and disrupting an entire important subset of the medical industry uh, namely the drug humera, met it's one of the most popular drugs on the planet. Right now the main form of administration is an injection.

Progenity has a patent for more of an oral method, so i think it's just disruptive to a 20 billion a year industry and right now, prague is valued at 800 million, with an m when you're disrupting a 20 billion a year industry. I just think it's undervalued and on top of it we have some exciting numbers in ortex, so short interest, estimated to be 27 costs to borrow 78 utilization 99.9 shares on loan around 36 million. I, like all those numbers, the average age of these shares on loan 27 days and that's quite a bit of time to be paying such a hefty cost to borrow fee on top of it. If you look at the nasdaq threshold list, prog is going to be on it.

That means that it has ftds for quite a while now quite a while from the most recent ftd report, i can bring this up for you. The spike is all the way up to 6 million, but the fact that it's on the threshold list right now tells me that there's still a serious amount of ftds. This is why i feel comfortable in speaking about this, because it tells me something potentially illegal illicit nefarious is going on in the background, because we're not supposed to see ftds, especially to this magnitude. So when i see a high short interest well, it tells me that the profiteers of the current system related to humira are not happy and they don't want this company to be successful.

And then, when we look at some of the numbers that are representative of what's going on in the background i.e these ftds, it tells me that something's happening that should not be happening and i'm more than happy to try to fight this fight because it's a company. That's trying to affect humanity in a positive way, with a drug that many many people need and hey. When i see that it's being abused like this, maybe i'm wrong. Maybe i'm right! These are my own opinions.

This is not a buyer sell signal. You got to be doing your own dd on this, but i like what we're seeing so the fud of people selling yeah they sold a little bit, but the net buying is much much more and i see a little bit of confusion about what's going on with Potential dilution. I want to talk about that. Can prague get diluted? The answer is yes to the tune of 13 million shares that is possible from a business perspective.

It's a bit silly because they're about to partner up with a bigger pharmaceutical player. So i don't see why they would want to do that now, but even if they did, let's be the devil's advocate just so. You know. The volume on prague today was 200 and almost 18 million 218.

The max solution is 13 million, so we're trading a volume. Almost 20 exit, which is crazy and then on top of it, if you look at the outstanding share, count it's around about 150 160 and the free flow is closer to 80 about half of that, so the numbers, even if we're playing devil's advocate, i want to Be very very clear: i don't think that they will, but even if they do, i just don't see how it's a game. Changer. It's not going to make me change my mind, but with all that being said, i implore you to look into the sec filings yourself.

Maybe you'll come up with a different conclusion, or maybe you'll see what i'm seeing one that's having a very exciting post market right now is nvidia. By far my favorite semiconductor company and also nancy pelosi's she's been able to make millions and millions and millions of dollars off of it right now, post market. It is crushing it it's currently up 3.6 as i'm filming this, and that's because it did very well on earnings, nvidia, ticker symbol, nvda easily beats earnings expectations on strong gaming and data center sales, and here are the numbers. The revenue was 7.1 billion, which beat the expectation of 6.8.

The earnings per share was 1.17, which beat the expectation of a dollar 11.. The gaming revenue was 3.22 billion, beating the expectation of 3.18 and the data center revenue was 2.94 billion, beating the expectation of 2.69. I want to point out that this last one, the data center revenue increase, was very strong, so right now in the world of these processing chips, nvidia is very much the gold standard. It very much destroys it in gaming, it's very strong in ai and data centers.

It's there, but people are saying: okay, other people are using things such as amd and intel i'd like to see this uptick that it is already dominating in two of the fields i like to see that nvidia is actually starting to gobble up additional market share in Data centers. I have said this many times before i love nvidia, i own nvidia, it's a long-term hold to me. I think the way technology is trending. I just don't see how nvidia doesn't win, especially when it's the gold standard, i'm very bullish on esports year over year, that is growing by billions of dollars same with ai same with data centers and nvidia could very much be the keystone to all of that.

So we are currently waiting for the call to go live but based on the numbers in the sec report about its earnings. It makes sense that this thing is currently going sky high in real time now. Let's talk about of our moon stocks and i have a particular, i guess news update for you just so. You know amc closed out the day at 42 13, which was a drop of 1.1 percent and jimin closed out the day at 210, which was a gain of 1.4 percent very happy about both of those in terms of ortex.

There was a net return again were in support of amc today of 2.53 million shares that puts the estimated short interest at 15.5 percent and in terms of gamestop there was a net borrow against gme today for 64 000 shares, which puts the estimated short interest at 8.84, very quickly, in a technical perspective, this is another fake out breakout for amc. We were very close, but we couldn't get it so i don't mind it because we are soaking up supply and we have support relatively close at 42 and additional support at 40.. I'm looking for that follow through. We just need to break and hold above this trendline and then hopefully 44 and some change and then we'll be testing the high from november 8th, which is around 46.

right now, when in doubt zoom out ever since. Really what i suppose february a pattern of nice higher lows. I completely understand emotionally how you can get it caught up in the minutia of singular day moves, but when in doubt, zoom out and just check out this pattern, look at this. We have higher lows.

We have this explosion, lower highs, we're in this pendant, and you can see this pennant is kind of going in the bulls, the apes favor, because we're still seeing higher lows and we're just soaking up the supply and fingers crossed. I can't guarantee anything, but i'm looking for this breakout, hopefully in the near term, gme somewhat of a similar situation recently broke out of its pendant same thing, higher lows: we were pushing an important level above 220. Today, uh we couldn't hold that we're currently at 210. I'm looking for the capture of 225 and i think, similar to amc that jimmy could easily be back off to the races.

One of the major things i'm paying attention to on gamestop is any fundamental updates related to loop ring and its nft marketplace. I think that could drive enthusiasm and the reason i'm talking about enthusiasm is because the volume has been low. Recently, i want enthusiasm to return, so we see more volume, more volatility and just more passion for this stock, but once again, amc gme well actually nvidia prague. All of them, i'm long on them, i'm personally excited about them just trying to be as transparent as i possibly can.

Now, for a little bit of a news update not too long ago, we saw marco hodis come onto the scene and discuss how one way we could potentially track end. The debate of are there naked shorts or not related to amc is to get crypto involved. Get a blockchain involved because, with the security and the validity of a ledger, you know who has what and you can track to see if there's shares out there synthetic shares that shouldn't be existing whatsoever. Well, gasparino charlie gasparino took that on national news and he said some bombastic things about mark cohodas that were clearly inaccurate and also just misstating.

What mark was trying to get across of hey as an owner which mark now is? We all deserve a legitimate count. We all deserve to know if this is being illegally shorted or not. Well, that became such a thing that gasparino had to go back on news today to his tone: completely changed completely changed and he just retracted it, and he was saying things that were basically his conversation with mark to explain what's going on here. But i want to make it explicitly clear: no matter what equity you're in you deserve the protection we deserve to know what is or isn't going on.

We basically deserve the truth. Well, the conclusion to this is basically today he walked back a lot of his statements, and he also announced that he will be going on air on wednesday nozet november 23rd with mark and then liz clayman will be kind of the moderator between the discussion of both Mark and uh gasparino here so just want to give you that update, i mean, make sure you're marking your calendar for wednesday november 23rd definitely get the popcorn ready. That's the update there and that's the update really for everything going on the major moves in the market. Today, i would love to get your thoughts on any of this below amc, jimmy progenity nvidia, just whatever thought you want to share, throw them in a comment below.

Obviously, that helps me out the youtube algorithm that type of engagement. If you want to drop a like and help get this video in front of other people who might be interested, that would be greatly appreciated and don't forget to join up with the moon gang by hitting that subscribe button. And until i catch you next time. For me and share best of luck in the markets,.