A Message From Porter & Company

Editor’s Note: Make time for this today – Porter’s explosive new documentary exposes the President’s plans to replace the U.S. dollar. If you have retirement savings, a stock portfolio, or a family depending on you financially, you need to watch it right now.

In the early 19th century, whale oil was among the most valuable commodities on Earth.

It lit the lamps of America. It lubricated the machines of the Industrial Revolution. Entire coastal economies like New Bedford, Nantucket, and New London thrived because of it.

The scarcity was real. Whales were finite after all – and the expertise to hunt them, process them, and bring the oil to market took decades to develop.

That scarcity underpinned an entire monetary ecosystem.

Then in 1859, Edwin Drake struck oil in Titusville, Pennsylvania.

Kerosene arrived. It was cheaper, more abundant, and much more powerful.

The whalers didn't disappear overnight. The compression was gradual – and then suddenly catastrophic. Within two decades, the whaling industry had effectively collapsed.

The scarcity hadn't disappeared. It had migrated. And the fortunes built on whale oil migrated with it – to the men who understood where scarcity had moved.

This is what a great repricing looks like.

A friend of mine, financial writer Garrett Baldwin, has a phrase for what happens to the people who don't move in time. He calls it the "flooding layer."

The idea is simple – every time the scarcity underpinning an entire industry evaporates, it creates two groups of people:

Those who own the new chokepoint. And those standing in the flooding layer – watching everything they built get washed away.

The brutal truth is that the people in the flooding layer almost never see it coming. Not until the compression is irreversible.

For a more recent example, let’s look at Kodak.

In 1988, Eastman Kodak employed nearly 150,000 people.

It was one of the most valuable companies in America. Its business was built on a form of scarcity that seemed unassailable – the chemistry, the film, the paper, the processing infrastructure required to capture and develop a photograph.

That scarcity evaporated when the smartphone put a camera in every pocket.

Kodak didn't fail because folks stopped taking pictures – it failed because the scarcity that underpinned its entire business model migrated.

In 2012, Kodak filed for bankruptcy.

That same year, Facebook acquired Instagram – a company with 13 employees – for $1 billion. Instagram had captured the value that Kodak lost.

The scarcity had migrated from chemistry to connectivity and the people who understood that got very rich. Those left standing in Kodak's flood plain did not.

Today I’d like to show you that we’re living through another great repricing – one that is already making millions of dollars for those who understand where the scarcity is migrating once again.

To understand what’s unfolding we have to rewind to a secret deal that’s profoundly shaped everything about our lives, for more than half a century.

Kissinger’s Dollar Reset

In July 1974, Treasury Secretary William Simon boarded a secret flight to Saudi Arabia.

Under the orders of Nixon’s top national-security advisor Henry Kissinger, what he proposed to King Faisal in the coastal city of Jeddah would become the greatest financial arrangement in the history of the world.

Saudi Arabia would price its oil in dollars.

Within a year, every other OPEC nation followed suit. The U.S. dollar was now backstopped by the one commodity the entire modern world could not function without.

That scarcity minted fortunes on an almost unimaginable scale – creating an environment that allowed America to spend trillions, with the rest of the world picking up the tab.

And for the companies at the chokepoints of the petrodollar, it was like rocketfuel.

ExxonMobil up 9,700%. JPMorgan up 6,000%. Lockheed Martin up 14,400%. Microsoft up 479,000%. America transformed from a nation of 180,000 millionaires in 1974 to nearly 24 million today.

But the petrodollar arrangement – Kissinger's deal in the desert – officially expired without fanfare in June 2024.

China has slashed its U.S. Treasury holdings by more than 45% from the peak. The BRICS nations dumped $47 billion in a single month. Central banks are swapping dollars for gold at the fastest pace since the Cold War.

Ray Dalio – founder of the world’s largest hedge fund – calls it the "breakdown of the monetary order."

The flooding layer has shifted again.

And millions of Americans are standing in it right now – in cash, in the wrong stocks, in retirement funds built for a monetary order that is being quietly dismantled beneath their feet.

Trump’s New Order

While most Americans have been distracted by the tariffs, UFO memes, and the war in Iran, Trump has been quietly assembling the most ambitious monetary reset in half a century.

Bypassing Congress, away from the mainstream press, Trump is executing his audacious repricing through a series of executive orders and bilateral deals most people have never heard of…

Channelling more than $3 trillion in public and private capital toward a single strategic objective:

Securing the physical foundation that makes artificial intelligence possible.

I’m talking about the priceless minerals, chips, energy, and infrastructure without which no AI model runs, no data center operates, no breakthrough is possible.

This is where scarcity is migrating.

And over the past few years, the companies sitting at the chokepoints of this new order are already soaring:

Vertiv – up more than 500%.

GE Vernova – up nearly 700%.

Arista Networks – up more than 750%.

Taseko Mines – up 370%.

The titans of industry who understood that kerosene would reprice energy got rich.

As did the investors who understood that the petrodollar would send a wave of capital into a specific band of stocks sitting at the chokepoints.

The ones who didn't understand this found themselves stranded on the flood plains of history – wondering how they missed it.

I want to help you avoid that fate.

I've spent months identifying the companies I believe sit at the narrowest chokepoints of what I'm calling Trump’s Silicon Dollar.

In my new briefing I lay out the full story and how it could impact your money.

I'll show you why Trump has declared a national emergency to secure the most critical AI resources – and why every move he's made, from his obsession with Greenland to the war in Iran to his trip to Beijing, connects back to it.

I’ll also reveal the name and ticker of one asset you can buy today to get immediate exposure to what's unfolding.

And details on five stocks sitting at the chokepoints of Trump's plan – positioned to do what ExxonMobil and Lockheed Martin did for the investors who understood the petrodollar.

You’ll also discover why a critical event this year could accelerate the wealth divide this great repricing is already creating.

Get the full story here.

Good investing,

Porter Stansberry

3 Small-Cap Stocks With Catalysts That Could Put Them in the Spotlight

Reported by Nathan Reiff. Published: 10/5/2026.

Small-cap companies are accustomed to living in the shadow of mega-cap tech firms, but there are signs that the market backdrop could be changing for some of these businesses. Investors have been looking beyond the Magnificent Seven for growth opportunities, and smaller companies with improving fundamentals, unique business models, or other noteworthy catalysts may finally have an opportunity to attract investor attention.

As interest rates have recently risen, contrarian investors may have an opportunity to buy in before economic conditions improve further for small companies seeking financing. At the same time, the valuation gap between large- and small-cap stocks remains atypically wide, creating potential opportunities to rotate into smaller names if the risk environment improves. Of course, small-caps still come with their share of risks, including volatility, operational concerns, cash flow challenges, and more. With all this in mind, the three companies below stand out for their fundamentals and unique catalysts that could support future growth.

An Oncology Biotech Poised for a Commercial Breakthrough

Ascentage Pharma Group International (NASDAQ: AAPG) is transitioning from a clinical-stage biotech company into a more established commercial oncology business thanks to its primary commercial product, olverembatinib, which is used to treat certain types of leukemia. The company has also expanded its pipeline, with hematology and oncology candidates in various stages of clinical development.

For the first half of 2026, revenue climbed more than 29% year over year (YOY) to $44.5 million, fueled by $41.6 million in product sales. The company's reach is global, although its business has been particularly strong in China. At the same time, it maintained more than $279 million in cash and equivalents as of midyear, providing a runway through the end of 2027.

Ascentage carries many of the typical risks and opportunities associated with growth-stage biotech firms. It remains unprofitable and is spending cash quickly, as R&D costs increased by nearly a third YOY in the first half of 2026. The company also anticipates significant capital needs to support commercialization going forward. Its success hinges in part on key trial results and regulatory approvals for its pipeline.

Nonetheless, the fact that commercial revenue is scaling and the company has promising drug candidates in development has earned it a unanimous Buy rating from 10 analysts, along with a price target of $46.43.

Multiple Promising Drug Candidates and Strong Financials for Maze

Another biotech company with upcoming clinical milestones that could drive growth, Maze Therapeutics (NASDAQ: MAZE) focuses on genetically driven diseases. Its primary drug candidate is MZE829, which targets APOL1-mediated kidney disease (AMKD), a condition affecting more than 1 million people in the United States alone. Maze reported positive topline data from a Phase 2 trial of MZE829 in March 2026, a critical step toward potential approval and eventual commercialization.

The company also stands out because of its additional drug candidates. Additional Phase 2 studies for other drugs in development are expected in the coming quarters. While the results of these pending trials are uncertain, the company's more diversified pipeline helps it stand out from some of its competitors.

Maze also distinguishes itself through its financial position: the company had about $528 million in cash and equivalents as of its most recent earnings report, thanks to a successful capital raise. This should provide sufficient runway to extend operations into 2029 while limiting near-term financing risks. The combination of relatively stable finances and promising drugs in development has led analysts to overwhelmingly rate MAZE shares a Buy. As with AAPG, Wall Street expects MAZE shares to more than double.

Pagaya's Volumes and Profitability Could Win Over Skeptics

Fintech firm Pagaya Technologies Ltd. (NASDAQ: PGY) has successfully integrated AI and data analytics to help lenders make credit decisions. The company delivered strong revenue growth of about 19% YOY in the latest quarter, while GAAP net income surged more than 180% over the same period.

The company is performing well on multiple fronts: Partners have sent more volume, revenue from fees less production costs is soaring, and expenses have remained stable. With Pagaya earning up to about 5% in net fees per loan issued, the company can maintain an asset-light model that supports profitability. In addition, increased volume has helped ease lingering concerns that Pagaya may not have enough investors willing to take on the loans.

To be sure, Pagaya remains a riskier play than some other fintech names because of its size, risks in the broader funding market, the potential for a macroeconomic slowdown, and more. However, Wall Street analysts are heavily bullish on PGY shares and have assigned a fairly lofty consensus price target of $31.25 per share.

A Message From Stansberry Research

Dear Reader,

I believe Elon Musk is about to launch a new device that could kill the iPhone.

It's rumored to be thinner... have longer battery life... and sell for much cheaper...

It could also be usable worldwide without cell towers... and run on one of the most powerful AI-based platforms in existence.

I call it "Starphone" (see why here)...

And I'm convinced this new device could quickly unlock some of the biggest Elon gains you've ever seen.

This marks the third major mobile phone prediction of my career...

In 2004, I told Congress the smartphone was about to transform the world – years before the iPhone was first announced.

Had you bought $1,500 worth of Apple shares back then, they'd now be worth million.

A few years later, as a hedge fund trader, I told Steve Cohen at SAC Capital that Apple wouldn't sell 1.2 million phones like every other analyst was predicting... but 1 billion phones.

Both predictions came true.

Now, I'm sharing all the evidence proving why I believe Elon is working on a new device...

One that could not only change your life and our society... but potentially make you 50 times your money as it hits shelves.

Just know that this story is already starting to hit the mainstream.

Just last week, the FCC gave Elon a major green light to move ahead with his mobile plans.

That means your window to move your money is NOW — before the official debut.

Get the full story and see all the government filings and deals here.

Regards,

Josh Baylin
Frmr. Bloomberg Reporter
Frmr. SAC Capital
Senior Tech Expert, Stansberry Research

P.S. I'm also sharing the name and ticker of a stock at the very heart of this huge story. It's 100% free, on this page here.

3 Beaten-Down Biotech Stocks With Triple-Digit Upside and Big Catalysts Ahead

Submitted by Jessica Mitacek. Date Posted: 10/10/2026.

Small-cap stocks tend to fly under the radar. Often in the startup stage, these companies may lack analyst coverage, be overlooked by institutional investors and remain illiquid because of low average trading volume.

But occasionally, some small capspresent investment theses that are so compelling they begin to command attention.

Three biotech companies—Inventiva (NASDAQ: IVA), Larimar Therapeutics (NASDAQ: LRMR) and Ascentage Pharma Group International (NASDAQ: AAPG)—have catalysts that could put them on more investors' radars.

Each is developing treatments for serious diseases with significant unmet medical needs, and all three carry consensus analyst price targets suggesting triple-digit upside. While clinical, regulatory and financial risks remain substantial, upcoming drug-development milestones could help determine whether Wall Street's optimism is justified.

Inventiva's Phase 3 MASH Results Could Be a Major Stock Catalyst

Headquartered in France, Inventiva is a clinical-stage pharmaceutical company developing an investigational oral therapy for metabolic dysfunction-associated steatohepatitis (MASH), a serious liver disease associated with metabolic disorders.

Inventiva’s most promising product, lanifibranor, is an investigational pan-peroxisome proliferator-activated receptor (pan-PPAR) agonist that simultaneously activates all three PPAR subtypes.

The drug is currently being evaluated in the company's Phase 3 NATiV3 trial, with topline results expected in Q4 2026. Positive results could support a potential U.S. regulatory submission in the first half of 2027, making the upcoming readout a significant catalyst for investors.

While MASH affects approximately 5% of adults globally, an estimated 9 million to 15 million U.S. adults suffer from the disease. Its prevalence is forecast to rise substantially because of increasing rates of obesity, insulin resistance, type 2 diabetes and metabolic syndrome.

As a clinical-stage biopharma with no approved commercial products, Inventiva is pre-revenue. While lanifibranor works its way through the pipeline, the company has seen its net losses mount, increasing annually from $34 million in 2019 to $416 million in 2025.

Shares are down more than 58% from their one-year high, but the stock carries an analyst consensus Buy rating, and its $15.86 price target indicates more than 400% upside potential.

Larimar Moves Closer to FDA Approval for Its Lead Drug

Larimar Therapeutics is a clinical-stage biotech company focused on developing treatments for rare diseases caused by deficiencies in mitochondrial proteins.

Its lead drug candidate, nomlabofusp, is an engineered fusion protein designed to deliver frataxin to mitochondria. It is being developed primarily to treat Friedreich’s ataxia, a rare, inherited neurodegenerative disorder.

Larimar’s approach uses a cell-penetrating peptide to transport frataxin into cells and mitochondria, aiming to address an underlying cause of the disease rather than merely treating its symptoms.

Because its therapies remain in the development stage, Larimar is also pre-revenue. As a result, the company’s net losses have been increasing, from $35 million in 2022 to $166 million in 2025.

On June 29, Larimar announced that it submitted the first module of its rolling Biologics License Application to the U.S. Food and Drug Administration for accelerated approval of nomlabofusp. The remaining modules are expected to be submitted before the end of 2026.

Shares are down 58% from their one-year high, and short interest of 13.93% of the float remains a concern. However, analysts have given LRMR a consensus Buy rating and assigned it a $10.33 price target, which implies more than 280% potential upside.

Ascentage's China Success Sets the Stage for U.S. Expansion

Of the three stocks on this list, shares of Ascentage Pharma Group International have fared the worst over the past year, having fallen nearly 64% from their one-year high.

The commercial-stage pharmaceutical company focuses on developing therapies that target mechanisms involved in programmed cell death, or apoptosis, primarily for cancer and other serious diseases. Its pipeline includes small-molecule drug candidates designed to inhibit proteins that help cancer cells survive.

Two of its leading candidates are lisaftoclax and APG-115. Lisaftoclax is a BCL-2 inhibitor already approved in China for certain previously treated patients with chronic lymphocytic leukemia and small lymphocytic lymphoma, with additional clinical trials underway in other hematologic malignancies. APG-115 is an MDM2-p53 inhibitor under evaluation for oncology applications.

Ascentage has also developed candidates targeting inhibitor-of-apoptosis proteins, along with other treatments relevant to cancer care.

The company conducts research and clinical-development activities in China and has pursued international development and regulatory opportunities, including in the United States. While some of its drugs are already approved in China, others remain subject to clinical testing and regulatory review, and approved uses may vary by geography.

It is important to note that, unlike the other two companies, Ascentage generates commercial revenue.

In its Aug. 19 H1 2026 earnings release, which covers the first six months of 2026, the company reported revenue of $44.5 million, up 29% year over year. The increase was primarily driven by sales of its oncology drugs, including olverembatinib and lisaftoclax.

The stock carries a consensus Buy rating from analysts, who have given AAPG a $44.75 price target, suggesting more than 200% potential upside.