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ADVANCED INHALATION RITUALS CEO STUART BRAZIER
Recorded: Dec. 22, 2025 Duration: 1:12:15Space Recording
Short Summary
In a recent discussion, experts highlighted the potential for significant growth in the crypto market, driven by bullish sentiment and strategic partnerships, particularly with OpenAI's anticipated funding. The conversation also touched on emerging trends, including the January effect and the impact of AI advancements on market dynamics.
Full Transcription
Thank you. What is up everyone? Happy Monday.
Holiday week, 22nd of December.
Low, low volume action this morning.
Floating higher, though.
Just made a new high of day on the S&P.
Small caps are just off of high of day,
and tech is not doing anything today. Everything's
kind of just doing something different. There's pockets of the market that are absolutely flying.
There's pockets of the market that are pulling back. Most things green though. Third gap up
day in a row since last week. We've got up what Thursday, Friday, and again today. And here we are.
Everyone talking about the Santa rally.
Is Santa coming? Is he here?
Is seasonality still playing into effect?
I don't know. All good questions.
We have some smart people that can talk about all those things here.
We are going to dive into it a little bit here.
We'll see what kind of crowd we have, obviously, people with holidays and stuff like that,
doing different things here and there.
And either way, we're still going to talk stocks, talk markets, talk macro and individual
picks, thematics, things like that.
There's several things that I'm excited to have an update on from
Ben and some of the crew up here as well. So appreciate you tuning in. Without further ado,
we'll dive into it a little bit. We do have a great conversation coming up in the back half
of the show today. So we'll go ahead and dive into it a little bit. I do think we have some
people traveling today, so we'll get to focus in on some nice things here.
Ben, there's been some connection issues on this app this morning, apparently.
But Ben, I want to get a mic check, make sure that you're up here with us.
Yeah, can you hear me?
Gotcha, gotcha. How are you, sir? You sound a little under the weather.
Oh, wow, you can hear that with just a couple words. I am, yes. Thank you.
Yeah, since Friday, but I'll get over it, so
I'll make it through this. Anyway,
those of you who are tuned in
today are in for a treat,
I gotta say, because there's fewer
speakers here, and I'm gonna take
a little extra time to talk about
some of our story trading process
and philosophy, which is gonna be a lot of fun.
Godfather Knows is on sabbatical for a couple months.
Did he reach out to you, Wolf, M?
Yeah, I got a message that said he was, what,
taking a couple months or so away.
Didn't share a whole lot of details, of course,
and I won't share any of the details that he shared with me
unless you know him better.
But yeah, he's taking a little break just in general.
Nothing alarming or anything was the way I got the message, so I don't want anybody to worry. know him better but yeah no no i think it's taking a little break um just in general nothing uh
nothing alarming or anything was the way i got the message so i don't want anybody to
to worry just enjoying his enjoying his life you know enjoying his life enjoying all his profits
but in any case um you know maybe we'll get laptop travel to replace him for a couple months i think
he was on the show here before maybe you have someone to replace him whatever a couple months. I think he was on the show here before. Maybe you have someone to replace him, whatever works.
It's fine with us here.
So, look, let's start with a macro.
And, you know, this is really one of my favorite weeks.
Yeah, it is one of my favorite weeks, if not my favorite week of the entire year.
And it's more than just, you know, people talking about the Santa rally.
For me, I don't really care about the Santa rally.
I'm looking at something different.
There's two things I just love about this week.
One is it's a holiday-shortened week, which tends to be really, really good for retail-oriented names and small caps because folks are on vacation.
Hedge funds are on vacation, especially the ones that attack small companies and they're sitting there shorting stuff. They're not around as much. So those retail names behave better on holiday
shortened weeks. Another great week is Thanksgiving and Black Friday week. It's like clockwork.
Almost every year it's like this during these two weeks. July 4th, maybe not as much. It
depends how the holiday falls out. But in any case, that's one reason I love this holiday week.
The other thing is everyone talks about the Santa Rally,
but I get so excited and we prepare big for what we call the January effect.
Now, I've heard other people mentioning the January effect.
It's just a broad, vague thing about how small caps outperform big caps, and they
call that the January effect.
We look at it very differently.
You know, at story trading, I'm looking at our four pillars, which is catalyst, sentiment,
fundamentals, and technicals.
So I look at everything through those lenses and through that lens.
And when it comes to the January effect, I'm not just looking at price action and outperformance of small cap versus large caps.
There's a few really interesting things going on here.
One of them starts with the tax law selling, which disproportionately impacts small caps and probably is the reason for what everyone talks about in general the out performance of
small caps versus large caps because small caps generally out underperform year after year after
year right so when it comes to mid mid to late november uh those small caps are sold off um
you got to wait for that 30-day wash sale rule and then that um people start buying back this week
and so you see the zenith of that tax loss
selling this week and it's just a great time to add these January effect stocks.
But I'm looking at it not just from a perspective of the tax loss selling but
then we put in our other pillars of story trading which is sentiment, catalysts,
and fundamentals. So as I'm identifying what stocks can do great between this week and mid-January, I'm also looking for, growth names, things like that, where people have
a recent memory of the stock doing really well, but they're disappointed that this year it didn't
do well. So then you get that hope from the retail crowd that, oh, hopefully now it's going to be
there. It jumps up again. You also have a positive sentiment just in terms of it's New Year's. And
people have a positive mentality. This is going to be my year mentality this is going to be my year this is going to be my
year for my little shitty small cap that didn't do well in the prior year this is going to be the
year breaks out it's kind of like a new year's resolution so it's like a new year's resolution
for the stock so there's a lot of like psychological sentiment things going on that make these few
weeks good and then there's also catalysts um year end there's a lot of deals that are closing
uh first week of the year there's a lot of deals that are closing first week of the year. There's a lot of deals that may be closed prior that are launching and product launches.
So you tend to get a lot of press releases in the first couple weeks of the year, including just company updates and management updates and letters to shareholders, all kinds of stuff that could be catalysts that can light a fire under that.
Really, the core starting reason is the undervaluation because of tax law selling.
So we spent the last three weeks every Sunday night at 8 p.m. going on Zoom
and putting together a list of stocks.
Last year, we chose 10 stocks.
Nine out of 10 of them just absolutely exploded.
The top one was TMDX, which I usually do the January effect with call options unless it's like if the stock trading under three or four or five dollars, I do common shares.
But if it's more than that, I usually call options.
So Transmedic's call options last year was up over a thousand percent.
And there were a lot of things like that.
It was absolutely my favorite time of the year.
I forgot to talk about the quick macro.
I mean, I covered a lot of it there because a lot of this is seasonality. But last week, we had the
light CPI. We had the major, major blowout earnings from MU, which we predicted. And
I'm still in some call options I bought before. The MU earnings, actually, they're up right now
316%.
I want to hang on to some of those, see how high those can go.
So we had the light CPI, we had MU, and then we have this chatter that OpenAI might raise $100 billion.
And combined, those three things came together to kind of put the bottom in, leading into this positive seasonal week.
And that's why we're seeing the bid in all the indices right now.
So I couldn't be any more bullish for right now on small caps between now and the end of the year.
And honestly, for select small caps like this January effect stocks into the middle of January,
come the end of this year, honestly, I might take some hedge. I might do Q puts or something like
that, because then you have the
inverse of tax all selling. You have tax deferral. So there may be some 2025 winners people are
holding on to and then you'll see them sell off on January 2nd. So also I'd be on an individual
stock basis. I would look at that to see if like any of you are like crazy high flyers. They're
just like not selling off. What the hell's going on? This is so crazy. It's going up so much.
Well, part of it might be tax deferral behavior
and you might see a big red candle on January 2nd.
So those are my macro thoughts.
I love the macro thoughts there.
I would love to even dive in deeper
to how you kind of approach the January fact.
I've heard a lot about it. I've heard some pieces of it over, over time.
I remember last year listening in a little bit about that, but definitely exciting times,
you know, obviously with anemic price action,
but there are some very interesting underlying mechanical things like that,
that Ben sort of trading that you guys are all over over there.
So money, Mark joined us up here.
I want to make sure we get over to him and get the,
some macro thoughts over there. Then Money Mark joined us up here. I want to make sure we get over to him and get some macro thoughts over there. Then we'll come back and we'll get Dougie Fresh involved.
Then we'll get if we have any picks or anything. And then of course, about the 30 minute mark,
we'll have a guest joining us for a good conversation there as well. So Money Mark,
glad to have you here on this Monday. How are you, sir?
Doing well, man. Good to be back. I think we took
the week off last week and we're coming up on the end of the year. Ben just gave, I mean,
that was a great overview, traders, sentiment, year end. I mean, it's just a great history lesson
overall there. As most of you know, I am more of a valuation purist of average 40% a year for the last 30 years using that approach,
but increasingly taking on some aspects of what Ben and Doug E. Fresh do that actually,
and it has been very helpful in augmenting returns, having my best year in a long time as a result. But staying true to that fundamental picture,
we remain in yellow alert, yawn boring. I've been saying it for quite some time.
What's really interesting is if you look in particular, already we have the NASDAQ and the
S&P 500 have reached long-term trend lines in terms of top-level valuation that I look for.
So that's not technical analysis. That's fundamental valuations. So those are at
all-time high levels with the exception of the internet bubble and the 1920s bubble. Dow Jones 30 is just about there as
well. It is right now, right on the cusp of hitting the level that it hit during the internet bubble
on the trend line, the fundamental trend line going all the way back to 1915, which I have here.
trend line going all the way back to 1915, which I have here. Interestingly enough,
that line is sitting almost exactly at 50,000. So it'll be really interesting to see what happens
if and when we get to that level. And I do have optimism that we get there because we have
an economy that remains pretty strong, all things being equal. It has its weak spots,
but overall is what really matters, and it's doing pretty well. The Trump administration
has policies that tend to be bullish for equities, brings liquidity into the equation.
Of course, come May, we're going to have a completely new look Fed, which should also provide tailwinds to the stock market. And of course, the market will
be starting to bake that in ahead of time. Whether or not that tailwind will be strong enough to
fight any headwinds, well, that's always the moving parts that we need to keep our eyes on.
That's always the, you know, the moving parts that we need to keep our eyes on.
And then finally, AI, right?
My area of expertise, technology, going back to the early 90s, we're starting to see productivity
gains.
We're starting to see the corporate surveys show higher success rates.
You know, you hear the doomsday, 90% of corporate AI projects are failing.
That's not happening so much anymore.
It's quickly, very quickly moving in the other direction.
You are seeing productivity gains.
And yes, there will be some job losses.
But if you look at what you're seeing out there, I would argue that we're actually seeing net job gains from AI
more so than the losses. You've got different sectors benefiting, of course, construction,
utilities, things like that, even as something like your neighborhood receptionist might get
replaced by the technology from Crescendo CXDO that I've talked about in the past.
But so far, there's no evidence that it's a net negative. Also, because of that productivity,
you can have growth without inflation being commensurate. So in that environment,
if you have an administration that's pushing the accelerator on liquidity,
willing to devalue the dollar further or lower interest rates further, et cetera, et cetera,
you can have a kind of bubblicious situation where the markets can go higher than they're
supposed to. So really what I've been saying for quite some time remains intact. Be cautious
because valuations are elevated. But within the markets themselves, I've continued to give you guys stock picks
because there's always companies that remain undervalued in any market. So that's where you
should really remain focused instead of playing the market or guessing where the market's going
to go next. Just stay focused on what the best plays are. And we'll talk about that in the second half of the show.
Appreciate those thoughts, Money Mark.
Great to have you back on with us.
Always really enjoy your in-depth look at some of the things here.
It's very refreshing, both of you guys.
This show does such a good job of bringing in the fundamental picture of things and the real story behind what's moving different
things out there. Obviously there's macro, there's catalysts or things like that, but then
understanding, uh, come to the fundamental side of things, I think is where, uh, I think that's
why a lot of us tune in. I mean, I I'm, I'm lucky to be here hosting, uh, and just getting to hear
this stuff each and every week, but either way, just wanted to shout out you guys for that. And we've got about 12 minutes, 15 minutes or so here.
Let's jump into a little bit more pick stuff after we hear Dougie Fresh's thoughts. Dougie Fresh,
big picture stuff. What's sticking out to you right now?
And I'm the complete opposite. I'm just technical. So yeah, they're amazing at fundamentals. And I can just tell you what a chart looks like. And I don't really know many fundamentals. But I'll tell you what, I've learned a lot about the January effect. Thanks to Ben. Ben, that was great at the beginning of the show. And us discorders are lucky that we got to sit in on them Zoom meetings because I'm telling you, that list is crazy that Ben put together. And yeah, he's got a lot of insight into the January fact.
I wasn't really that into it until now.
And yeah, what a beauty that is.
So anyway, going on, how about cannabis getting rescheduled there?
That made the cannabis sector go flying.
But that price was already priced in early because people knew that news was coming.
So of course, they drew back.
But of course, the sector will go back up so you're just watching for them opportunities
in the cannabis sector then your aerospace and your space sector they went crazy recently
and uh the rest of the market honestly doesn't look bad your queues are up a little bit your
spies up a little today and your iwm crypto looking pretty good bitcoin staying into that
bullish channel it's it was
struggling there for a couple days but it worked its way back up to the 20 right now looks pretty
strong rolling off so we should finally get through that 20 again get into the channel and
get through to 50 and then it should be trying to get rolling so bitcoin looks pretty good looks
strong right there for crypto and yeah the market overall does look strong going into this holiday week.
It is a fun week because like Ben explained, not many big guys are short in the market
right now.
So things tend to like to pop up here.
So you do see a lot of poppers happening.
And yeah, that's what's happening here as we go into our Christmas week.
And I know we have an interview, so I'll keep it short.
And right back to you, Em.
Absolutely.
I'm going to take that and just pass it right back over to Ben
because, Ben, I'm excited to see if there's any picks,
any updates, anything that you've got for us.
Yeah, well, I think I'll just maybe give one example
of a January Effect play.
And it's one I've talked about before. It's gonna be
Webull. So if you look at the chart here you'll see they had earnings on
November 20th and as far as I'm concerned it was an inflection earnings report
report and that's another thing it's kind of like the X factor I look at so
we you know I look at the four pillars but really I guess it's kind of like the X factor I look at. So, you know, I look at the four pillars, but really I guess it's captured in a sentiment pillar, right?
When you have an inflection in earnings towards profitability
or you're just like growth accelerating or, you know,
things like that that you've been waiting for.
So that happened with Webull in a pretty big way on November 20th.
And, you know, valuation-wise the multiples are a lot lower than Robinhood.
And you can see it did well initially. But this sell-off here from December 10th to December 18th,
in my opinion, you know, one of the things I look for to kind of validate our list
after we initially make our January effect list is when we see this kind of late weakness and it's not late, I mean late in December, and it's not reacting well to a catalyst, it's not holding its gains.
To me, that's just validation that that's tax law selling pressure over here.
And that makes the pick even stronger.
It's like you're holding this balloon down underwater type of thing that's happening.
It's like you're holding this, you know, balloon down underwater type of thing that's happening.
So you can see that visually in the chart with the tax law selling going on with Webull.
And I talked about the fundamentals here, the valuation, the sentiment inflection.
The other thing we look for now, I don't know of any particular catalyst that's supposed
to happen on Webull.
We do have certain other stocks on our list that we know of catalysts coming in the first week of January. That makes
it an even stronger January effect play. We'll save that for a Discord. But, you know, that's
what we're looking for is Q4 catalyst, late catalyst that the stock just cannot react to
because there's so much tax law selling pressure.
And with Webull, just looking at the chart, and by the way, I tend to see historically,
we looked at our data, and it seems that most gains come from between tomorrow end of day.
So take tomorrow's close, the day before Christmas Eve day.
Take tomorrow's close close and you go out
about the first 10 days in December there's something a very tight period of
about three weeks and that's where you can see like very large gains in
individuals in these individual stocks you're talking like 10 15 20 30 40
percent type of gains and because we're timing, it really lends itself towards options.
So just looking at the chart here, you know, I wouldn't be surprised to see Webull trading
at the proximal high of $10.37 pretty quickly once you get into the first five to 10 days
of January. So that's just one example of a pick we have on our list for January 5th.
I love the detailed thoughts there for sure.
Ben, I would love to be able to check in on that webinar that you do with all that.
That sounds really interesting there as well.
Let's go to MoneyMark and see MoneyMark.
What are you looking at in these markets right now?
Where are you finding value out there near all-time highs? Yeah, I'll give you an update on one of my largest positions,
maybe my largest position now, and then a new name that I've started discussing. First on the
existing name, we've got gold hitting an all-time high. We've got copper hitting an all-time high.
And we have Geodrill, G-E-O on the Toronto. G-E-O-D-F for us Americans is the symbol.
And this is the company that allows, if you think you have gold in the ground,
if you think you have copper in the ground,
you call these guys up and they assist
with the drilling exploration
to find out what you've really got going on there.
And so they've been around for decades,
40% of the company owned by its founder.
He's never raised money since being a public company. He's built the
company off of cash flow, bringing cash flow, buy another drill, bringing cash flow, buy another
drill. And over time, they've gotten better and bigger customers, Newmont Mining, the major
players in the gold industry now have signed them to multi-year contracts for accessing their capabilities when it comes
to utilizing these drills to find gold and copper. 80% of their revenue comes from gold exploration
assisting. They don't own the gold mines. They just assist the gold miners. And then the other
20% from copper. So it's the perfect mix of what's going on out there.
The stock has been slowly moving up, but now getting a lot more orders. We're seeing actually
an acceleration in revenue growth for a company where the CEO, who I've known for several years,
stated that, you know, I think somewhere in the future, Mark, if we get up to 100 drills, that's when I'll sell the company because I don't think I'll be able to grow it very fast from that level.
I'm not going to stick around to grow a company 5% a year.
Well, here we are at 100 drills and growth is accelerating and is in the teens, perhaps even the 20s as we speak.
teens, perhaps even the 20s as we speak. So the thing that I will update you on is that because
we always want to see what is going to happen in exploration. Well, what's interesting is
despite all of the prices of gold and copper being at all-time highs,
gold exploration and funding has not followed yet. So we haven't even gotten to the point where
all of these gold miners out there have spent a ton of money on finding new gold to pull out of the ground. Okay, so it's still very early
in the cycle, which to me sounds bullish for if you like gold itself. But I like focusing on
individual companies and looking at Geodrill, what we have seen recently, last quarter, the highest amount of new investment into exploration since the peak back in 2012.
Okay.
Now, that money has yet to be deployed.
That's just money that's been given out, right?
These are investors saying, yes, we will invest in your exploration activities.
We will invest in your exploration activities.
And now these explorers, these gold miners are going to take that money once they receive
it and deploy it out in the field.
Well, what's going to happen, obviously, is they're going to call up GeoDrill and say,
hey, we've got lots of money that's been invested by investors.
And we want to go out into the field and look for more gold because we're at all time highs.
So I've spoken to the company. We are
looking at a tremendous Q1 ahead. Q4, I believe, is going to be stronger than Q3, but Q1 is going
to be absolutely lights out with all this new funding coming in. So that's Geodrill, G-E-O-D-F.
Interestingly enough, the company went through a restructuring in early 24,
which took the stock down quite a bit. It's been recovering since then,
just finally recovered to its 2023 highs recently. That was $3.63 Canadian. It's only 10% above that
now. The stock should be much higher. I think the stock should be about 50% higher than where it is
right now and continue higher as it continues to grow. And as a result of that valuation and
the restructuring they did, you're still getting the stock for less than the book value of its
drills. So you get a company that's growing in the high teens, low 20s, but you're only paying
book value. And they are, of course,
very profitable. So that's that one. And then real quick, new name that I'm talking about
is Birch Tech, ticker symbol B-C-H-T. And this is a company with a $78 million market cap as we speak,
but they were just awarded $78 million by coincidence in a patent infringement lawsuit.
This has been going on for six and a half years. And finally, we're getting to final resolution of
this patent infringement suit where, and look, it's not $78 million with $78 million of cash
coming in. The $78 million award, you got to pay taxes, fees, blah, blah, blah. Net, though, they should have over $50 million of cash on the balance sheet once this award is paid out.
That leaves us with an enterprise value of about $28 million for a company that has three things going on.
Number one, the patent infringement that we saw
is because of their technology,
a patented technology that enables these coal plants
to purify their air, right?
So it's a pollution control technology.
It generates $18 million of recurring revenue each year
for their technology and licensing the
patents that they have along those technology. There were several plants that were infringing.
And as you see, we have an award for one of those infringements. There are still a couple of
outstanding infringers out there. They will settle now, not for this amount of money, by the way, but that is a path to
additional revenue from the additional plants out there that are going to say, okay, you won that
case, you're going to beat us too, so let's just settle. So that's one thing. Two, obviously
continued movement in their air purification business. You know, coal plants are still running
strong, whether you like it or not, and maintaining the pollution is important. And then the third thing is the entrance into
the water purification business because their patented technology appears to be ideal for these
PFASs, PFAS. So if you know the stock Permafix, P-E-S-I, that stock has been on a nice run.
PFAS has been a very hot topic recently in the marketplace. You see all these different things
talking about our water being very tainted. You've got things like nonstick pans, waterproof clothing, food packaging,
firefighting foams, all have these things in it that over a long period of time, we're ingesting
as human beings. And now it's finally being acknowledged by the EPA as being a major problem.
And so this is something where we can see BirchTech BCHT,
they plan to enter that market. I think that could double their existing business.
So you've got a business that's on the cusp of profitability, can double its business by moving
from water purification into, I mean, air purification to water purification. And we're just given an award
that will give them $50 million of cash. So now you're paying basically a $28 million
valuation for a company that has a $78 million market cap. So plenty of upside potential there.
Wall Street, there's one, Lake Street has a $3 price target on this company.
And they've had that price target on there for a while, but I was waiting to see the award.
I'm not one to flip coins on binary events, especially a patent lawsuit. People who flip
the coin on that have been waiting for six years. Well, now we finally have a firm decision, very little avenue for the defendants to try to get that knocked down.
So here we are on the cusp, and so this is a great time for BCHT.
That's it for this week.
All right, thank you, Mark.
Empa, are you still there?
Still here, and I saw we got Stuart up here with us. I'm excited for this interview.
We do. We'll see you on the other side of it. Dougie, if there's still time, if you want,
you can hang on for this segment. I don't want to get to you on the individual picks,
but hang on if you'd like. And also, I got my colleague over at Story Trading Spotlight here.
A colleague over at Story Trading Spotlight here.
Rhett, you there?
Rhett?
Okay.
Yeah, yeah, I'm here.
Can you hear me?
Sorry.
Good, good.
Just make sure.
Rhett may be part of this discussion, too, along with Dougie or Mark, whoever's here.
Feel free to step in whenever you'd like.
Em, do you want to make the intro?
Yeah, absolutely. I just want to make the intro? Absolutely.
I just want to thank Stuart for coming on.
Again, he's the CEO of Advanced Inhalation Rituals.
Of course, quick disclaimer,
this is a paid segment here on our WolfX spaces
and not a recommendation to buy or sell any security
or any instrument.
Of course, as always, please do your due diligence.
But we are excited to have Stuart joining us today. And Stuart, if you want to go ahead and jump in, give us a quick,
I'm going to fix that title, but let me have you jump in, give us a quick introduction,
remind us, remind the audience, maybe some new members out there that didn't get to hear about
you guys last time. So we'd love to hear your introduction on you and advanced inhalation rituals. Thank you very much indeed. Firstly, can I just sound check? Can you hear me?
Yes, sir. Got you loud and clear. Excellent. Great. Well, good morning, everyone.
Great to be back again. So I'm the CEO of Advanced Inhalation Rituals, or AIR, and we are the largest manufacturer of flavoured hookah, or shisha molasses, in the world.
We produce the most out of anybody. We also own the largest hookah brand, which is called Alphaja.
It's a category that's actually defined by flavors and these flavors
are proprietary. So you've got to think a little bit about Coca-Cola and sort of the secret sauce.
We sell our products in over 90 markets around the world and we're known for our quality and longevity of the experience.
Last year, in 2024, we had revenues for the core business of $374 million.
And that drove an adjusted EBITDA of $148 million.
And probably most impressively, our net cash generated from operating activities was $150 million. So like any tobacco business,
it's really, really cash generative. And, you know, we've been around for over 25 years now,
but we haven't sat on our laurels. We have been investing in our future,
and we've invested heavily in innovation over the last few years and that's now allowing us to introduce new
products to the market. The first of these was or is a product called Ooka and
shisha molasses or hookah molasses is about 600 years old. Nothing's really changed in the
category and this was the first big
revolution in the category. And basically, it's a way of enjoying hookah without using the charcoal.
So a little bit like an espresso machine or a Keurig machine for coffee, we use capsules with
our hookah machine. And it allows you to load the capsule and it's it's heated with an oven and after five
minutes of heating you can sit there and enjoy your hooker experience without needing to keep
running around and putting the charcoals back on so that's a little bit of a summary of a about us
and what we do uh great thank you Stuart and just to remind the audience here this is a SPAC
deal version of Canada Fitzgerald's CAEP is the ticker symbol Cancer Equity Partners 3 ticker
symbol CAEP. It was just recently announced and the ticker symbol when the deal is done is going to be A-I-R-E.
Is that correct, Stuart?
A-I-I-R.
Oh, A-I-I-R.
Okay.
And just a quick update on the timeline.
When do you expect that to happen?
Yeah, we're still expecting that to happen in the first half of 2026.
Okay.
All right. Okay.
All right, great.
So, you know, the thing that's always captured my attention here,
obviously, it's a very interesting topic, and I'm sure, you know,
Rhett and Dougie will have some questions for you.
But the thing that, like, captures my interest is that it's very unusual
for a SPAC candidate that's merging a SPAC target to be profitable. So I'm just
very interested in watching to see how this turns out, you know, once the deal is done
in terms of how it's received by the market and the price action and everything. It's
definitely a very unique thing. You don't really see this every day merging with a company
that's actually profitable. So that's going to be very interesting. That's why I'm keeping very close tabs on the story here myself.
So since last time we talked with you,
are there any new updates you want to let us know about?
We've been, I think, yeah, about a week ago or a couple of weeks ago,
we announced a bolt-on acquisition that we've made.
announced a bolt-on acquisition that we made.
You know, around the world, as I say,
we are the largest hooker manufacturer
or hooker molasses manufacturer.
And our competition, we don't have any global competition.
Our competitors tend to be regional or local.
That means we're as big as the next four competitors
combined. But it also means that if we watch the market and we see smaller competitors doing well
with particular flavors or particular products, that we're then able to talk to them and
you know in some cases actually acquire them at levels
that's going to be accretive to our business.
So a couple of weeks back, we announced the acquisition of a brand called Nameless, which
is very, very popular in Germany.
And what we'll do is we will take that brand and we'll, through our worldwide distribution, begin to share that with other markets other than Germany.
And obviously, we plan for that to accelerate our growth.
So that was the main announcement.
Okay, great.
And I'll start with just one question I have, and then I'll turn it over to my colleagues in case I have any.
But this UCA, sorry, a little under the weather here, but it's very interesting because you're trying to revolutionize this before in terms of the kind of this cultural or social expectation or the social behavior that may need to change in order to kind of accept this new methodology of HOKA that has a lot of upside in terms of being less messy.
You know, but I'm curious if, you know, people resist it just because it's it's new and maybe maybe people like the messy
right so do you have any data or focus groups or anything any kind of data you can point to
of early reception and how people are welcoming this yeah you're right i mean you know it really
is sort of first to world and as i said earlier something that's been around for for 600 years
And as I said earlier, something that's been around for 600 years.
And when you're trying to change that, of course, there's early adopters who jump hold of anything that's new and interesting.
But you're right.
People are used to putting charcoal on top of their molasses and drawing the heat and it vaporizes.
It's an activity which is
occasional. It's social. People do it with family, with friends. They sit down, they share stories.
It's time to relax, a little akin to having a cup of coffee or having a tea or having a drink
with friends. So they're used to that. And then we introduce something that's,
you know, innovative, high tech, new, different, a slightly different experience as well, of course,
because you're taking the charcoal out of it. And, you know, sometimes if you're drawing the heat,
you can you can taste a little bit of the charcoal. So I suppose really the, you know,
the best comparison is like thinking about somebody who's got one of really the you know the best comparison is is like thinking about somebody
who's got one of those you know ten ten thousand dollar coffee machines at home and they're
grinding the beans and they're making the special coffee for you and then moving um across to uh an
espresso or a currant machine so the the experience is is slightly different um but for the hookah, it's actually a much cleaner experience.
And many people enjoy the fact that it is a cleaner experience.
Many people enjoy the fact that it is convenient, easy to use.
having a dinner party and you want to enjoy hookah afterwards, rather than spending 25
minutes putting it together and getting all messy and eating the charcoal, you can now
just pull out this rather beautifully designed machine, stick it on the table, put in the
pod, press the button, and then five or six minutes later, you're able to enjoy it. So it is very different. It's portable as well.
I live in Dubai and a lot of people in this part of the world, when they go on holiday,
they actually like to take their hookah pipes with them. And so we cater for that as well.
And we have an hookah backpack. So it's easy for people to take with them on the plane and take on holiday and
they can enjoy it on the on the beach or enjoy it by the pool uh where wherever they want so
you know the the game is because it's new um is is obviously over time raising people raising
people's awareness of this getting feedback as well as to what the experience is like, what people like,
what they think could be better, how could it be improved. And of course, over time,
we will further develop and reiterate it. But everybody loves the idea of it. And there
certainly seems to be a consumer need out there. And I'm very confident that over time,
we can build a larger and larger following
uh for our ukra device is this being distributed inside hookah bars or it's just like an online
purchase how do people become aware of this yeah so so the category is it's um off trade and on
trade right so on trade in in lounges in in, we have a version which is called the Uka Pro.
And for at home use or off trade, we have the normal Uka.
And I think the best comparison to make is if you think about a running machine.
So when you go to a gym, it's a commercial running machine. It's being used all day.
It's heavy duty. Whereas when you buy commercial running machine it's being used all day it's it's heavy duty whereas
when you buy a running machine for home it's a little lighter duty because it's not going to get
the same amount of use so the the pro version has a much larger battery pack can charge for longer
and you know is good for like six or seven sessions so that if you know a cafe owner is is um you know allowing a table to
use it once it's finished it's ready to go to the next table whereas at home you're not really going
to need uh six or seven sessions uh an evening but so we we cater for both at home um and and on
trade with this device and sorry this is my last question before I let some of my colleagues speak.
So what's the status of that distribution?
Are you doing it like country by country, state by state?
Like where is it available?
Like how many lounges is it available in right now?
Yeah, it's still in pretty early days.
So it's available in lounges in the UAae where i am in the united arab emirates
uh it's also available in um in germany in cities in germany and uh in the u.s actually uh there are
there are lounges um cafes in miami um where it's it's also available so So for the US, it would be a city bike.
Oh, money works in Miami. By the way, I don't know if you're still on the speaker, you're
showing his listener. If you are, you got to try to find out where that is, give that
a try and let us know money works.
Well, if you go to the Four Seasons, I think it's in, is it Brickale? Am I pronouncing
that right? In Miami?
Yep, correct. Brickle.
Yeah, Brickle.
You'll find it available in there.
And for the US, we'll take a city-by-city approach and gradually get the word out there.
All right, cool.
Let me turn over to EMP and then Rhett.
And by the way, Moneymark, you always are welcome to hop in and ask your financial questions and be the tough guy in the room, which I love. So Amp, I'll turn over to you for now.
with the updates and everything, I just want to clarify for the opportunity here, if people are
interested, as far as the roadmap for investing, where can people look to invest in this? What's
the timeline on that and all those pieces there just to function there? Yeah, so we're looking to close the deal in the first half of 2026.
So it will probably be in Q2 that we're targeting.
The ticker will be AIIR, and that will be trading as soon as the deal is closed.
And again, to just talk a little bit more about the business we have this tremendously strong
cash generative core business and the core business is this hooker molasses
as I say we're the global leader we're distributed all over the world over the
last five years we've been able to
consistently i think the cag over the last five years for top line growth on the core businesses
is five percent for the adjusted EBITDA it's it's eight percent over that same period
uh and we're able to grow this business because it's it's actually a growing category. It's becoming more popular
in Western markets like the US and Europe because it is a relaxing social thing to do,
an occasional social thing to do with your friends, as I say. And in this part of the
world, in the Middle East, you've got Africa and Asia, you have these demographic tailwinds that are also increasing demand over time.
So the category is growing. We're the leader in the category. We also continue to grow our share in our core markets.
in our core markets. And also the TAM, the total TAM of this category is actually much larger than
people would think. So the annual TAM is between 15 to 19 billion dollars. That's how much people
spend, consumers spend every year on this category. And when you think about it, you know, a lot of
that or the lion's share of that is actually spent in lounges.
And in some places, particularly in a place like Dubai, people pay over $100 to sit down and enjoy a shisha with their friends.
So there's pricing opportunity as well for us because the manufacturer's time is much smaller than that 15 to 19 billion. So as
manufacturers, we know that further down the supply chain, there's good money being made.
And therefore, as a product, it's not very price elastic for us as manufacturers. So year on year,
we're able to take incremental pricing, we can grow share and also as the category evolves we
see different pockets or sub-segments emerging in the total category and that allows us to
innovate and introduce new products to those consumers.
So there's innovation, there's premiumization, there's pricing, there's share gains, and there's also category growth that allow our core business to grow.
Something else we're doing as well is we're shifting more and more of our business from offline to online.
Because being online allows us to go direct to our consumers, therefore increasing our margins.
But it also allows us to launch new products directly to them as well.
And very recently in the US, we actually launched a new product in collaboration with Snoop Dogg.
So, you know, Snoop has been following the category for some time.
So, you know, Snoop has been following the category for some time.
He's out.
We spend a lot of time out in clubs with people, loves music, loves a crowd and has watched how this whole hooker culture has evolved.
And we're able to to get together and collaborate on on some really, really exciting flavors, which have now, you know, now available in the US have been available for a couple of
months now. And that's really, really exciting for the for the category as a whole. So that's
the core business, as I say, core business growing, lots of opportunity to keep growing into the
future. And I mentioned earlier about the fact that we were now built this capability to innovate. I've talked about Uka, but also the Alfaka brand.
We are able to stretch that Alfaka brand into other nicotine adjacencies.
So we're just in the process of launching vapes for Alfaka.
And we've launched what's called Crown Switch in Germany.
We launched that about a month
ago. That's our first market for Crown Switch and we will look to drive that across the European
geographies first and then once we've gone through the right regulatory steps in the US,
launch in the US. And we also have Alphaka nicotinees as well, which we have launched in the Middle East.
I don't know if you guys are familiar with these, if you've heard about Zinn and Velo and Alf.
But given that we have many millions of consumers around the world who will be testing and trying these other nicotine categories,
we thought it was only right to offer our quality standard and our brand in those
categories as well. So these are also exciting TAMs and large TAMs that we're beginning to step
into. So if you think about the hooker TAM, our core business, we've got lots of room to grow there.
And now we're beginning to put products into adjacent TAMs which are also sizable.
I mean the vape TAM is now about 30 billion dollars, nicotine pouch TAM is about 9 billion
dollars and growing at a CAGR of around 13-14% year on year. So very very exciting time for the
business, lots of growth opportunities ahead.
And that's why we're really excited to go public and give people the chance to join in this journey with us.
I appreciate that, Stuart.
There's some really great pieces there.
And you hit perfectly on my follow-up question, too.
So I'll go ahead and pass the mic.
I don't know, Ben, do we want to go over to ret next uh or yeah let's uh right go ahead you got any thoughts hey stewart how's it
going yeah i would just like to follow up on the crown switch and your the initial feedback you
guys have been getting so far from that over in germany because i know that's the first launch of
that product so far yeah well we we've we've hit our selling targets right so i mean um you know the the vape business is a is a really uh really competitive space there's
lots of products out there you want to try and differentiate yourself uh our product uh obviously
carries the the alfaca name the alfaca brand um and also um you know crown switch but but also
it's a really high-tech product actually um in that product there's something called a quantum chip
and it's the first vaping device that doesn't use a coil and wick? And some people might be familiar with how vaping works. But literally,
it's a coil that gets heated. And there's a wick. And on that wick, you have some ceramics.
And it flashes the liquid and it vaporizes it. And sometimes in that process, you can
get some heavy metals or ceramic particles, which are obviously
undesirable. But what this quantum chip does is it allows you to vape without using the coil or
the wick and therefore takes out the risk of heavy metals or ceramic particles. So again, it's a
really, really clean vape experience
or vaping experience. And also the molecules are much smaller than in traditional vapes.
So the whole experience, again, should be much cleaner and much more effective. So we're
very, very excited about this product as well.
That's awesome. And then my other-up question to that is with the vamp
products how is that going for you guys i actually ordered a couple of the pods but i don't know
am i able to did you yes i did i got the focus the focus ones but i haven't been able to try
them yet because i forgot to order the actual uh the part that you put the device yeah okay like it yeah good so yeah so so that feeds very nicely
on from the on from the vapes and and and you're right this product vant which we're actually just
testing uh in market at the moment so you're right you're obviously uh you know we're testing
it in new york and we're testing it in madrid in spain and again this uses this quantum chip
New York and we tested it in Madrid in Spain.
And again, this uses this quantum chip.
And as I said, this quantum chip actually produces
a lot smaller particle size or molecule size
than traditional vapes.
And that allows you to inhale effectively
for the first time some different products.
You talked about focus.
So Vant actually caters for different needs, right?
One of the products is to,
I need to help you sort of relax before sleeping.
And in this product,
you're able to inhale things like chamomile,
valerian root, passion flower.
So the sort of things that many of us take as pills
before we're going to sleep to try and relax the brain
or clear the head.
Now you're able to have these in a vape form.
There's also caffeine available,
which is designed to give you energy, obviously.
And then focus.
And focus is interesting because it contains a product
called axorin which isn't very common but it's it gives you a kind of a different focus
from the focus that you might get from from nicotine and the last of the products is called
zen which which contains cbd and that's designed again to make you relax.
So we're testing those.
We're getting different feedback.
I mean, in Spain, early signs are actually the CBD ones, pretty popular.
But we're also testing different messages with consumers to see what sort of sticks.
And of course, if you say to someone, do you
have trouble sleeping or do you need help with with sleeping? A lot of people say they do.
So next time you're ordering, try to get one of the the, you know, the sleep ones to see if that
if that helps you. Awesome. We'll do. And then another question in terms of that, what are you
guys doing in terms of affiliate marketing
to really like spread the word out there on social medias?
Are you guys doing any affiliate marketing
or are you guys just doing partnerships
with like Snoop Dogg?
Yeah, at the moment,
we've got this collaboration with Snoop.
We've also got a collaboration with Cookies.
I don't know if you guys are familiar with that brand,
but they're certainly large in California california uh and and really we're we're doing this because we do see different people
coming into the category and i talked about alfaca earlier alfaca is a brand that's that's known
for single flavors um and two apple is its its biggest largest and best known flavor. But what we've seen as other people
are coming into the category, they're not just looking for single flavors, they're looking for
cocktail flavors or mixes. And so this is why we're introducing these mixes in these collaborations
with some of these names like Snoop and Cookies, because these consumers or these newer consumers can be more familiar with these people and obviously encourage them to trial our flavours.
So that's what we're working on at the moment. I say early days on the Snoop collaboration, uh very very positive um response uh so far
thank you for that i appreciate it doug you want to hop in here yes stuart a quick question you
mentioned that you have a location in the four seasons in miami so would the four seasons be a
company that you would like to uh you could work? Because that seems like it would be a great partnership with you guys.
I know I have a Four Seasons right in the Philadelphia area.
It's a beautiful location, the bar area.
So how's the Miami setup?
Is the lounge right by the bar area?
How is that set up?
Could you explain that?
Yeah, I'm not too familiar with the Four Seasons in Miami, but I believe there's a
particular lounge there. I can't think of the name off the top of my head, but somewhere where
you can sit outside. I've seen a video of it, actually. I just can't think of the name.
But you're right, Dougie. Things start like this, right? You go to cities, you get collaborations with a particular place.
If it's successful, you can then, you know, move on to regional accounts and ultimately you can move on to global accounts.
And that's what we'll aim to do over time.
So, you know, four seasons here, four seasons there. And it's also something for people to share on their Instagram.
So, you know, four seasons here, four seasons there.
The thing about this category is because you're sitting down with friends, people love to take pictures of them having a hookah or having an hookah and then sharing it on Instagram.
And that obviously helps get the word out and about uh begins to get more and more people interested
yeah no i think that's a great idea because i could see the four seasons in philly especially
not maybe so much in the winter time but in the summertime i could see it being a big deal
obviously miami's a little bit warmer so great for uh all year round but yeah i could definitely
see in the philadelphia four seasons i know that location
and the four seasons really well over there i could see them having a little hookah lounge out
there it's just right right across from love park it's beautiful so yeah it's awesome they got those
winter heaters out there dougie you know now you see these sort of electric heaters so that people
can sit out in the winter yeah no we have them all over in
this area especially during they came out during covet they forced everybody to sit outside so all
the restaurants just kind of kept them out since covet and uh people do enjoy outside in the winter
around here so yeah definitely very interesting and i would like to keep up on that maybe money
mark and shoot over to the four seasons in miami he's in that area and let us know what the hookah lounge looks like and how
that is.
Absolutely.
Please give it a go,
mom.
Give it a go.
You got it.
All right.
Friday live stream,
Mark.
We're going to need to see you on stream.
Just Tom Stewart sent you over to check it out.
They should take really good care of you, I would think.
I look forward to hearing about it. Fantastic.
Thank you for your support,
gents.
All right. Amp, you got any
final thoughts?
I'm good on my side.
Stewart, I guess the final thing I always love to ask people when they come on is just,
is there one thing that maybe we didn't mention here that you want to make sure and get across
to the audience today?
No, look, I say I think the key message about this business is, you know, we're very, very strong in the space, which is our core business.
We're the global leader. As we said at the outset, we've got growing revenues.
We're very cash generative. That has allowed us to, over the years, invest in building our capabilities,
in building our innovations, in building our innovations,
in protecting those innovations with appropriate patents.
And now we're in a position
where we're beginning to roll those innovations
out to the market.
So exciting times ahead for the business.
The timing for us to go public couldn't be better.
We are IPO ready.
And we're really, really excited about listing on the NASDAQ in the very near future.
Great to talk to everybody.
And thank you so much for your time.
And let me wish everybody a happy Christmas.
Great.
Thank you so much.
So we're looking forward to seeing your progress. And Merry Christmas. And Happy Holidays to everyone Christmas. Great. Thank you so much, Stuart. Looking forward to seeing your progress.
And Merry Christmas and Happy Holidays to everyone here as well.
Cheers. Thanks a lot.
Bye now.
I would not let me unmute for those last few moments here i appreciate stewart coming on uh i just love that people come on transparently and just give updates give what they're doing
what they're thinking about put something on my radar it's a whole new industry that i have to
look into and kind of learn about a little bit here and it sounds like a deep moat sounds very
interesting of course once again not a recommendation to go in buy anything make an to look into and kind of learn about a little bit here. And it sounds like a deep moat. Sounds very interesting.
Of course, once again, not a recommendation to go in,
buy anything, make an investment or anything like that.
But we do love to put things on your radar
and we love bringing on people
that will actually give us a deep dive information into stuff.
So shout out to the Story Trading Team
for bringing on Stuart
and putting this on all of our radars here.
Dougie Fresh, I know we're a little bit over time,
but we didn't get to hear any maybe of your picks
or anything that you're watching.
So before we close up, I just want to give you a shot here.
Real quick, here you go.
Hertz is looking good.
HTZ, that one's actually up today, like 13%,
but getting ready to run up some more.
And UAMY looking really nice right now.
So I'll just stick with them two and
them two look really nice they continue running up both of them are up today and obviously the
market's looking pretty healthy for a lot of things to start running up this week so there's
two right there that are looking good for you and uh and everybody have a happy holiday and enjoy
your christmas and everything else and thanks for having us on. Dougie, I'll give you a challenge before you leave.
Take a look at FJET and tell me how high that stock's going today.
FJET?
Oh, that thing was crazy this morning.
Come on, give us a number.
Let's see.
Hold on, let me take a quick look at it real quick.
FJET, that 22 looks like it's definitely in play right there.
Let me see on this one real quick.
Hold on.
Yeah, it's at 20, and it looks like, oh, man, that thing is crazy.
Let me see.
By the end of the day right here, it's spiking up.
It's trying to get into the top, and I think it's just a little healthy pullback.
It's going to continue.
I do.
I think you're going to see that 21, 22.
It's at 20.06 right now, do i think you're going to see that 21 22 it's at 20 0 6 right now
and i think you might get to there because i don't think it's coming out of the top right here to top
out i i mean maybe i would wait like three minutes and just make sure it doesn't pull back big but
yeah i think you might see 21 22 on that today yeah it's been cruising all day i know that i
saw it this morning i don't know why i didn't jump into that that's a 195 right now wow oh yeah i think uh like i said it's
just pulling back a hair i don't i still think it's going to jump up some more here then
all right that's what it looks like space ipo perfect timing for that all right emp over to you
Space IPO, perfect timing for that.
All right, Emp, over to you.
Oh, wait, Emp.
Well, I don't know if you had any last thoughts or anything,
but we're not in a big time crunch on a slow market day.
We didn't do the stock picking show last Monday.
So are we making that a two-week competition,
or are you all going to go find the data from last week?
How am I doing, Lee? what is easier for you to do easier is to just make it today because the formula is there
make it two weeks for yeah yeah i'm i'm good with that and we'll just give a disclaimer um all right
see what happens i mean yeah it was kind of weird because we thought we were going to be able to run
the show but we were traveling around puerto rico and yeah it just wasn kind of weird because we thought we were going to be able to run the show, but we were traveling around Puerto Rico.
Yeah.
It just wasn't going to happen.
We had too much stuff going on.
But, I mean, if it's more favorable for the previous whatever, I don't know.
We can kind of wing it and see what's going on.
But we're going to run the Stockpick show after being off last week.
And being off, we missed this show last week. So I missed hearing from all you guys. We had a great trip and all,
but I tell you what, I just felt unplugged. I came back to the market and was like,
what did I miss? And of course, a pullback I'd been looking for finally came to fruition there.
So that was a little interesting. But yeah, we'll have stock pick show today 5 p.m eastern you'll see uh ben hopefully uh is feeling well enough to come by and hang out with
us for that and we'll um we'll do uh another round of picks we'll call them the santa rally
picks for the january effect oh wait a second what are we doing the picks for the year and
what is that happening because we have the year oh, oh, look at that. Look, as of now, I'm first place for the year-long picks.
And the, dude, I got to get a prize.
I'm first place on the second half of the year picks too
and the year-long picks.
So anyway, we got to do that and then have the new picks.
So let us know when we're doing that.
Wow, look at that.
We'll go over that.
We'll hit that on the show tonight for sure.
And then we'll plan out, let's see, probably January 5th will be the first Monday of the year.
So we'll probably do the year-long picks on the 5th.
So we'll have one more show between now and then.
But we'll definitely go over
uh today the update of everything ben just crushing it your long picks and the second
half so we did for those that aren't aware come join the show tonight we'll tell you all about it
but your long picks uh from january and then we did a second half uh kind of six month pick here
that uh pins just crushing on both of these.
Andrew almost beat me with Pim's loss.
I thought I lost it after that cannabis hype.
Oh, this pullback saved you.
Yeah, exactly.
He got into first place, and then, yeah, it was disappointing EO, and thank God.
Well, the pullback on Berkshire also helped a lot because Gav had Hood that was doing so well.
Yeah, Gav's a good stock picker, man.
Yeah.
He really is.
His autopilot's doing well.
All right, Ben, appreciate you.
Appreciate Rhett joining us up here.
You see that other story, Trading Spotlight account.
You can give them a follow as well, bringing on a lot of CEO insights,
which I think is a really, really cool thing,
something that I'm glad that we get to be a part of as well, bringing on a lot of CEO insights, which I think is a really, really cool thing. Something that I'm glad that we get to be a part of as well, putting things on the radar
for the audience.
Dougie Fresh still hanging out with us.
Money Mark, giving some of his thoughts in Alpha as always.
Shout out to the Story Trading crew.
There's a great Discord going on there.
I'm not telling you that you have to be in it.
I'm not telling you like, go buy it right away, but go check it out because there's
some really great minds in there.
What you get here for an hour, hour and a half is I'll just be I'll be nice and say it's about 18 hours a day over there throughout the week, at least Sunday notes, all kinds of stuff there as well.
Workshops, you heard some of that stuff earlier.
So shout out to the story trading team up here with some great thoughts joining the small cap show each and
every Monday, 1 PM Eastern. We run this show. You can see the full schedule, of course, as our
pinned tweet over on the Wolf main page. And with that, I'm going to close this out. It was recorded.
If you missed any of the thoughts at the beginning, or if you want to hear that interview, if you
maybe missed some pieces of it, want to listen back to it, you can there in the second half of
the show, about 30 minute mark, we get started with Stuart and had a really good deep dive into some homework
that I need to really dive into. I said I was going to do it last time. I wrote down some notes.
I have sticky notes or whatever, virtual sticky notes on my computer of just things I got to go
back to. And that's one of them I'm going to bump up a little bit in the list because it's a really
interesting opportunity, really interesting market to check out there. So shout out to that. Shout out to all
of you. Appreciate the audience tuning in. I'll be on stream for the next little bit. We have
Stocks on Spaces coming up and then of course Stock Picks for the week. And we'll do these,
we'll give some updates on here. We'll give Ben some flowers here and see if he can hold on for
six more trading days or so. I think he's got it in the bag, but
we'll see. All right. Appreciate you
Ben, Rhett, Dougie Fresh. We'll check
everyone here in just a little bit.
Take care, all. Take care.
Have a good one, guys.
Thank you. Take care, everyone.
There was a tweet from
NVIDIA about Rivian a while
ago on Autonomy Day,
and there's some kind of drone news
going off right now.
All right.
I'm leaving you with that.
Bye-bye. Thank you.
Insights
P
