As you likely know, one of the primary functions of the Federal Reserve is to manage the United States’ monetary supply.
And right now, it’s hard at work creating a next-gen digital dollar.
It’s a new form of digital money that could one day replace the paper money in your wallet.
This new currency is called a central bank digital currency, or CBDC for short.
And whether you like the idea of a completely digital currency replacing your dollars or not, it’s coming soon.
In today’s video, I discuss these CBDCs and highlight their pros and cons.
It’s shocking there are cons, I know. But there are.
(If you’d prefer to read a transcript, click here.)
Research Analyst, Strategic Fortunes
From open till noon Eastern time.
Turning Point Therapeutics Inc. (Nasdaq: TPTX) designs and develops therapies that target genetic drivers of cancer. The stock jumped an incredible 116% this morning on the news that Turning Point is being acquired by biopharmaceutical giant Bristol Myers Squibb in a deal worth $3.77 billion.
Amylyx Pharmaceuticals Inc. (Nasdaq: AMLX) develops therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. It is up 21% after the FDA alerted Amylyx of an extension to the review timeline for the New Drug Application for its ALS treatment.
Sprague Resources LP (NYSE: SRLP) engages in the purchase, storage, distribution and sale of refined petroleum products and natural gas. The stock climbed 19% after the company announced that it is being bought out by an affiliate of Hartree Partners LP.
Iovance Biotherapeutics Inc. (Nasdaq: IOVA) develops and commercializes cancer immunotherapy products that leverage the power of the immune system to eradicate cancer cells. It is up 15% on the news that one of its directors bought up more shares in the company.
Calavo Growers Inc. (Nasdaq: CVGW) markets and distributes avocados, prepared avocados and other perishable foods to retail grocery and food-service customers. The stock rose 12% after the company managed to beat both top- and bottom-line estimates for the second quarter.
C3.ai Inc. (NYSE: AI) operates as an enterprise artificial intelligence (AI) software company. The stock is up 10% on a rebound after plunging Thursday when it reported disappointing fourth-quarter results.
StoneCo Ltd. (Nasdaq: STNE) provides financial technology solutions to merchants to conduct e-commerce across in-store, online and mobile channels. It is up 9% after the company reported accelerating growth and record revenues for the first quarter.
Quanex Building Products Corp. (NYSE: NX) provides building products and components for the fenestration industry. The stock is up 8% after the company beat expectations for the second quarter and raised its guidance for the year.
Zai Lab Ltd. (Nasdaq: ZLAB) develops and commercializes therapies to treat oncology, autoimmune disorders and infectious diseases. The stock rose 7% after the company released results from a study of tumor treating fields on patients with gastric adenocarcinoma.
Okta Inc. (Nasdaq: OKTA) provides identity solutions for businesses, universities, nonprofits and government agencies. It is up 7% after the company reported strong first-quarter results and raised its revenue outlook.