Right now, you can buy a dollar's worth of gold for about 36 cents.

That sounds impossible. Here's how it's real.

The major gold miners are throwing off record cash flow — even after gold's recent pullback. The four largest have never had this much free cash on hand. Ever. At today's gold price, they're running margins as high as 75% — the most profitable they have ever been.

Which hands them a problem.

Go here to see the problem — and why the majors are about to go on a shopping spree for the ages.

When a major gold miner makes record profits, it does one of two things: hand the cash back to shareholders, or buy the best junior mining assets to secure future production.

And here's the piece the market is missing:

The best junior assets are still priced as if gold were stuck at $1,800 an ounce — not north of $4,000, where it trades today.

So the majors are staring at their own future production shrinking, sitting on record cash, looking at top-tier junior assets trading at a fraction of what that gold is worth at today's price.

They don't have a choice. They buy — or their output keeps shrinking until they're out of business.

That's how you buy a dollar of gold for 36 cents: you own the junior before the major is forced to pay up for it.

The gap between what these assets are worth and what they trade for has a name. I call it the Golden Anomaly. It only appears early in a gold bull market, and it closes fast — usually the moment the majors start writing cheques.

So you can pay full price after the gap closes…

Or buy the dollar for 36 cents while the Anomaly still exists.

My name is Garrett Goggin, CFA, CMT, and it's why Porter Stansberry recently called me:

"THE most knowledgeable gold investor in the world."

Go here to see my Golden Anomaly portfolio — and the three names next on the majors' shopping list.

Best,

Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio

Sandisk’s Margins Look Like Software. Can They Last?

Author: Sam Quirke. Published: 8/14/2026.

As with death and taxes, there are two inalienable truths in investing: hardware businesses earn thin margins and software businesses earn fat ones. Making physical things is costly, while selling code that can be copied endlessly is, comparatively speaking, not.

Every so often, though, a company scrambles that neat distinction, and few are doing it more clearly than SanDisk Corporation (NASDAQ: SNDK). The maker of physical flash memory chips recently posted margin numbers that look almost too good for its industry.

Thanks in large part to revenue soaring more than 370% in its earnings report earlier this month, SanDisk’s gross margins hit 85%. For context, that’s higher than the 78% gross margin reported by software giant Salesforce Inc (NYSE: CRM), which doesn’t physically manufacture so much as a paperclip.

That combination of explosive growth and software-like margins is extraordinarily rare in hardware, and it raises a tantalizing question: Has SanDisk stumbled onto one of the most profitable growth stories in the entire technology sector, and if so, can it last?

A Margin Profile That Defies the Category

To appreciate how unusual SanDisk’s profitability is, it helps to compare it with that of its peers. Traditional storage rivals like Western Digital Corporation (NASDAQ: WDC) and Seagate Technology (NASDAQ: STX) typically report gross margins in the 40% to 50% range, while the broader hardware sector often posts much lower figures.

With margins at 85%, SanDisk is in a different league entirely, which helps explain why its stock is up 540% for the year, compared with gains of 180% for Western Digital and 230% for Seagate.

The Secret Behind the Software-Like Economics

The driver behind these dream-like margins is how SanDisk sells its products. Rather than relying on the notoriously volatile spot market for memory, where prices swing wildly with supply and demand, the company has been locking its biggest customers into multiyear, largely fixed-price contracts.

These agreements have transformed the business. SanDisk now has tens of billions of dollars in minimum contracted revenue stretching years into the future, covering a large portion of its expected output. That gives it something the memory industry has often sought but rarely received: predictable, annuity-like revenue that behaves more like a software subscription than a one-time sale.

Underpinning it all is the voracious appetite for storage created by the artificial intelligence (AI) boom. Demand for memory continues to outstrip supply, and that imbalance is expected to persist, giving SanDisk the pricing power to sign these lucrative deals in the first place.

Wall Street Is Taking Notice

That transformation has not been lost on the analyst community. Argus recently upgraded its rating on SanDisk to a Buy, assigning a hefty $1,600 price target to the stock after the recent bout of profit-taking left the shares looking heavily oversold.

The team pointed to accelerating demand, the company’s leadership in NAND flash memory and its push deeper into the lucrative data center market as reasons to expect those enviable margins to keep expanding.

Why the Bears Are Not Buying It

For all the excitement, some investors still urge caution. The most pointed concern is that those same fixed-price contracts, so prized for their visibility, may also cap how much higher margins can climb. Indeed, the company’s own guidance for the current quarter implies that margins will hold steady or even tick down slightly from their recent peak.

A second worry centers on how SanDisk got there. The bears note that much of the surge came from rising prices rather than from shipping substantially more product, and price-led booms tend to fade once a shortage eases. Demonstrating durable growth in actual volumes, they argue, is the real test of whether these margins can endure.

Where the Real Test Lies

So which side has it right? Bulls and bears are looking at the same eye-watering numbers and drawing opposite conclusions about what they mean for the stock. It’s easy to get excited about the bulls’ argument and embrace the structural shift taking place, with contracted revenue and AI-driven demand turning a cyclical business into something steadier. However, the bears’ view that this is a price-driven spike destined to fade is hard to ignore.

The share price reflects that uncertainty. While SanDisk shares are up more than 540% so far this year, the ride has been anything but smooth. The stock fell more than 50% during an industry-wide sell-off in July before rebounding almost 40% over the past fortnight.

In many ways, that kind of volatility is to be expected for a stock whose future is so hotly contested, and anyone thinking about getting involved needs to be ready for more periods like it.

Dear Reader,

In a few short months, the US government could make a sweeping change to bank accounts nationwide.

It will give them unprecedented powers to control your bank account.

They could closely track every transaction... even freeze it.

Fortunately, there are 4 simple steps you can take today that could safeguard your savings.

Discover these 4 simple steps here.

Good luck and God bless!

Martin D. Weiss, PhD
Weiss Ratings Founder

Moderna’s 177% Surge Has Investors Asking What Comes Next

Submitted by Sam Quirke. Article Published: 8/21/2026.

It's not every day that a company already worth billions sees its shares nearly triple in a single trading session. Welcome to the world of biotech, because that's exactly what happened to Moderna Inc. (NASDAQ: MRNA) on Wednesday, after the Massachusetts-based company stunned the market with a breakthrough that sent its stock rocketing to a multiyear high.

The catalyst was a set of results from a closely watched trial of an experimental skin cancer vaccine. The numbers were dramatic enough to reprice the company instantly. Shares closed up a remarkable 177% in a single day, adding to a rally that has seen the stock climb about 465% so far this year.

For a company whose fortunes had faded badly since its pandemic-era heyday, this is a stunning turn of events. So what exactly did Moderna announce, why has it electrified investors and, crucially, how much further might the shares have to run?

The Breakthrough Behind the Surge

At the heart of the excitement is a personalized cancer vaccine developed by Moderna in partnership with pharmaceutical giant Merck & Co. Inc. (NYSE: MRK). The treatment is designed to combat melanoma, a serious form of skin cancer, and uses the same messenger RNA (mRNA) technology that underpinned Moderna's COVID-19 vaccine.

The results themselves were seriously impressive. In a large late-stage trial involving more than 1,100 high-risk patients, the vaccine, used in combination with Merck's blockbuster immunotherapy drug, meaningfully outperformed Merck's drug when used on its own. It reduced the risk of cancer returning and slowed its spread, marking the first time a late-stage trial has improved on the established treatment in this setting.

That last point is what makes the news so significant. The existing drug is already a hugely successful therapy, so beating it is no small feat. For the many patients who undergo surgery for melanoma only to live in fear of a recurrence, a treatment that measurably lowers that risk represents a meaningful advance.

Why the Stock Reacted as It Did

The sheer scale of the share-price move suggests the market saw this as far more than a single promising drug. The most important reason is that the result strongly validates Moderna's broader approach to fighting cancer with mRNA technology.

This is the crux of the bull case. The company has a whole pipeline of similar vaccines in development, targeting cancers of the lung, kidney and bladder, among others. A convincing win in melanoma raises hopes that the same underlying technology could succeed across other programs, opening up a vast potential market far beyond this one disease.

The Short Squeeze That Poured Fuel on the Fire

Powerful as the science is, it doesn't fully explain the scale of the single-session move. For that, you have to understand who was standing on the other side of the trade. Moderna had become a favorite target of short sellers—investors who borrow and sell a stock in the hope of buying it back at a lower price, profiting if the stock falls.

In recent weeks, as much as 12% of Moderna’s entire float was held by short sellers. So when the trial news broke and the stock erupted, those bearish positions were suddenly deep underwater. The only way to stop the losses from mounting was to buy the shares back—and fast.

That stampede to exit their short positions, or to “cover,” turned Wednesday's big rally into an explosive one. As short sellers scrambled to buy, their purchases pushed the price higher still, forcing even more of them to capitulate in a self-reinforcing spiral known as a short squeeze. By the end of the session, those betting against the company were reportedly sitting on paper losses approaching $5 billion—a brutal reminder of how quickly a crowded short position can unravel.

How Much Further Could It Go

After a move of this magnitude, the natural question is whether the shares have further to climb, and here, some caution is warranted. The full trial data have yet to be presented, and the treatment must still clear the lengthy path to regulatory approval, something management hopes could happen as early as 2027. A great deal of optimism appears to be baked into the price now, too.

Indeed, Moderna shares were trading lower in Thursday's premarket session, a sign that some investors may be starting to take profits. For those on the sidelines, the sensible course may be to watch how this plays out in the coming weeks and perhaps wait for the stock to consolidate before jumping in. Whatever way they play it, investors must remember that biotech stocks can be brutally binary—capable of soaring on a single trial result like this one, but just as capable of slumping on the next.

I wish this wasn’t the case…

But it’s happening, exactly as I predicted.

I first warned my readers of this threat months ago. Many disregarded it.

Now it’s accelerating and unless you prepare now you could be blindsided by an event two Nobel Prize winners have warned of… an event that you cannot ignore.

The clock is ticking. Just take a look:

In a single month, March of this year, U.S. employers announced 60,620 job cuts. That's a 25% jump from February. And one force was named as the reason why.

Then the floodgates really opened.

Meta announced it's laying off roughly 8,000 employees – 10% of its workforce – and quietly killing another 6,000 unfilled roles.

The same week, Microsoft offered "voluntary separation" to 7% of its U.S. workers — more than 8,500 people.

Translation: quit on your terms, or we'll fire you on ours.

And they're not alone. Not by a long shot.

Amazon cut 16,000 corporate jobs… Block cut 40% of its workforce…. Salesforce eliminated 44% of its support team... Oracle is reportedly axing up to 30,000 roles.

IBM, Snap, Pinterest, Klarna… the list grows by the week.

Almost 80,000 tech jobs evaporated in the first three months of 2026 alone.

Although most people think this is about AI… it’s not. The story goes far deeper and is far more consequential. It’s something that I’ve been warning off for months now.

And I’m not the only one.

Two Nobel Prize winners have warned of this Final Displacement.

Because they know, as I do, this event could trigger a once-in-a-generation wealth shift.

A transfer of wealth that’s already begun with Goldman Sachs estimating 12,400 Americans are being financially destroyed every day… while others grow richer than ever before.

Which side you’re on could depend on what you do next.

Because for those who understand what’s unfolding, this could be one of the greatest wealth-building phenomena of their lives.

But for those who bury their head in the sand… this force threatens to wipe out years of investment returns and could even destroy their financial future.

Here’s the full story for you.

26 years ago, I started telling friends, family, and anyone who would listen about an unprecedented societal shift that was barreling down on us.

I’d discovered that a new technology was about to unleash massive, almost unimaginable, changes. I likened the impact to the railroad boom, the Industrial Revolution, and the rise of personal computing.

At the time, I was working as an investment analyst for an elite research group, but my colleagues and bosses refused to listen to me.

No matter what I said, they simply would not acknowledge the sands shifting beneath their feet.

The legendary Dr. Kurt Richebächer – one of the world’s leading Austrian economists – even called me and my ideas “radical.”

But I was certain this new technology would trigger a transformation that was simply unfathomable to most people… and those on the frontier could reap financial returns unlike any the world had ever seen before.

So, I decided to put my entire career – not to mention every cent I had – on the line to spread the story myself.

I left my job as a research analyst… went home to my third-floor apartment in one of Baltimore’s worst neighborhoods… and with a borrowed laptop, I wrote my first financial prophecy.

And in an investment paper that’s now been read by more than one hundred thousand people…

I explained how the endless miles of new fiber optic cables being laid was creating a new railroad across America.

And that this new “railroad” was going to upend the telecommunications industry and pave the way for a new internet economy.

I also warned it would decimate some of America's most dominant companies like AT&T.

At the time, this was an outlandish idea, with analysts calling AT&T “dominant”, “unstoppable”, and “the giant that no other company can topple.”

But those who were willing to open their minds to my so-called “radical” ideas were not only able to sell these companies before they collapsed…

They also had the chance to get in early on the firms that would go on to command this new internet economy:

Amazon, Adobe, Qualcomm, SunMicrosystems, Uniphase, Texas Instruments… These are household names now, but when I first recommended them in the late 90s, they were complete unknowns.

Since then, I’ve issued a number of other financial prophecies, many of which have come to pass precisely as I predicted.

But today, I’m stepping forward with a new exposé that I believe could surpass anything I’ve ever done…

It’s an investigation into what I call The Final Displacement… and I don’t think we will ever again see a story that rivals the magnitude of this during my lifetime.

I’m not talking about AI… quantum computing… augmented reality… the blockchain… or anything else you might be thinking of.

No. This is far bigger than them all. In fact…

It’s the cornerstone that all our recent technological innovations have been built upon and the future will be built upon too.

Yet you’ve likely never heard of it before.

Outside of the labs in the world’s most prestigious universities and tech companies, almost nobody has.

But those who have… those who can see the writing on the wall… they’re investing billions of dollars, as they know this will transform everything.

Marc Andreessen… Ben Horowitz… Elon Musk… Jeff Bezos… Mark Zuckerberg…Jensen Huang… Bill Gates… the list goes on and on.

They know, as I do, that in a few years from now, we will not recognize the world we live in.

How we work, live, communicate, transact… it will all be completely upended by what’s coming next.

Today, I’m going to share it all with you… and I promise you’ve never heard anything like this before.

You see, despite the magnitude of this story, nobody is openly and freely discussing this turning point. And that deeply concerns me, because I believe its emergence will draw an indelible demarcation line in society.

On one side, you’ll have those who understand it, invest in it, and who are greatly enriched by it.

On the other side… you’ll have those who underestimate it, turn a blind eye and are unfortunately impoverished by the sweeping changes it ushers in.

I know what side I’ll be on.

And I know what side I want you to be on.

So go here to watch my full investigation into this story.

Including the names of the companies to buy and sell if you want to capitalize on the impending multi-trillion-dollar displacement.

Good investing,

Porter Stansberry

Why Lowe’s Could Be a Bargain Before Housing Recovers

Authored by Thomas Hughes. Date Posted: 8/19/2026.

Lowe’s (NYSE: LOW) continues to face headwinds in 2026; however, the stock’s valuation, capital returns and long-term catalysts make for a compelling setup. Trading in the low $200s, LOW is near multi-year lows and at the bottom end of its historical price-to-earnings (P/E) range, setting the stage for a significant rebound.

Until then, the dividend is reliable and market-beating, yielding 2.3% compared with the low-1% range for most S&P 500 stocks. It is also a growing distribution. Lowe’s is a Dividend King, with more than 50 years of consecutive increases to its credit and the capacity to continue raising the dividend annually for years to come.

Lowe’s Has Near-Term and Long-Term Catalysts

Lowe’s has many near-term catalysts, including its Pro pivot, capital allocation and the potential for housing markets to unstick. The Pro pivot—Lowe’s strategic shift toward professional customers such as contractors, remodelers and builders, rather than DIY weekend shoppers—helps sustain growth and margins today. It is also supported by an aggressive acquisition strategy in 2025.

Additions such as Foundation Building Materials and Artisan Design Group have not only strengthened Lowe’s position in Pro markets but also expanded its offerings and created cross-selling opportunities.

Capital allocation is critical, as the company paused its aggressive buyback plans to fund acquisitions and, now, to reduce debt. Capital allocation could provide a triple catalyst: the dividend outlook is strengthening, the balance sheet is improving and a path to future share reductions is emerging. As it stands, it will take a few more quarters for debt reduction to take effect, but the shareholder deficit is falling sharply, providing evidence that the company’s strategy is working.

As for housing markets, when they unstick is anybody’s guess, with oil prices running high, inflation following suit and the FOMC on track to hold, if not hike, rates. The takeaway, however, is that Lowe’s is positioning itself for success today and accelerated growth and profitability when housing markets improve. Between then and now, investors can take advantage of low stock prices to build a position and reap the dividend.

Lowe’s Mixed Results Overshadow Inherent Strength

Lowe’s had a tough Q2, with revenue of $26 billion falling slightly short of consensus estimates. The miss was attributed to persistent weakness in DIY projects, the company’s core driver. However tepid the result, the weakness was relative, with revenue up 8.3% year over year and analysts expecting worse.

Data shows that 100% of analysts lowered their targets after the quarter began, with most looking for results at the low end of the range, well below the consensus. Internally, growth was underpinned by a 0.2% comparable-store gain and strength in the Pro business linked to acquisitions. Digital was another critical component, rising 15.7% year over year and contributing to the comparable-store strength.

Margin news was good, although the IEEPA tariff refund affected results. Key details for investors include $2.4 billion in net income and $4.40 in adjusted earnings per share (EPS), which grew marginally from the prior year and outpaced MarketBeat’s consensus by a nickel. Looking ahead, the company expects persistent DIY weakness to weigh on its full-year outlook and guidance, but less than the market feared. The new target assumes results at the low end of the prior range, which would be enough for year-over-year growth, healthy profits and continued execution of the strategy.

Analysts Expected Worse for Lowe’s—The Bottom Is In

The good news is that analysts had already trimmed expectations ahead of the release and were expecting worse news. In this scenario, sentiment trends remain steady and supportive for the market.

MarketBeat tracks 36 analysts rating LOW as a consensus Moderate Buy, with about 64% buy-side bias and 20% upside to the consensus.

The range of recent targets is wide, suggesting some uncertainty among the group, but it centers around the consensus figure, providing a moderate level of conviction in the outlook. A move to the consensus target of $262 would put the stock at the high end of its trading range, within easy reach of its all-time high.

Institutional activity suggests the downside is limited now that Lowe’s stock has sold off. The group owns nearly 75% of the shares and has bought aggressively over the trailing 12 months (TTM). Institutions sold shares in Q1 2026, but overall, they bought $2 for every $1 sold during the TTM.

The likely outcome is that this group will continue to underpin support at the low end of Lowe’s trading range until sufficient catalysts emerge for the stock to regain traction.