E Robots

white robot near brown wall

Image Source: Unsplash

The inevitable reversal of markets grabbed hold today and the Dow Jones, the S&P 500, and above all the Nasdaq indexes dropped. Another casualty appears to be cryptocurrencies which fell over the weekend. Bellwether foreign markets like Hong Kong and London were mixed, mainly because a new IPO for Ant may or may not becoming. It all depends on how Jack Ma, now in the China dog house, plays his stake in Alibaba. For what it is worth, your editor has essentially exited the internet leaders in China, because of politics. Unlike many enthusiasts, I can recall Chairman Mao and his lady because when I was in college I dated a Jewish Communist who backed China over Russia because there was less antisemitism there. That intellectuals like him might be attacked seems to have not occurred to him. These days I can sniff the gunpowder meant for me from 70 paces.

India, the other Asian market thriller, is down after it was barred for travel by the former imperium, Britain. PM Boris Johnson canceled his trip there today.

Drug dealers

*Teva of Israel is suffering from fear of the legal risks of its opioid misselling which is overriding good news of its newer drugs. Last week TEVA reported data to the American Academy of Neurology (virtually) showing that its migraine drug Ajovy cuts the days sufferers have headaches by 46.2% if they receive the drug every 3 months and by 66.2% for those getting it every 6 months. The opioid drug trial opens in California, however so Teva fell 1.56%. Now it is down 1.72% to $10.56. It has lost 80% or so in value in the past 5 years, although I own it for longer and am ahead, having discovered the share first in Israel in the 1960s because its CFO was the son of a German-born classmate of my father's, and then thanks to an Edmond de Rothschild analyst in Paris. I cannot afford to sell because my gains are in 4 figures.

*Ladies are under fire today. First of all, Zymeworks is losing its female Chief Medical Officer Diana Hausmann, MD. She will advise the board and be replaced by a man. This has chopped the ZYME price by 9.51% at the open and it is now down 10.15%. ZYME will present at the Bloom Burton Healthcare Investor conference starting tomorrow.

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William K. 3 weeks ago Member's comment

As always his article is both informative and enjoyable. A very good writer who is able to share and be interesting at the same time. And evidently quite an expert in an area of expertise far from my area of expertise. Thus a great source of insights. Thanks for being V.L. But I do not see where the title "Robots" applies here.