We issued an alert yesterday for MIcrosoft (MSFT) and closed it out today for a gain of 25%. Markets continue a daily rollercoaster ride up and down on all sorts of news and concerns. Most recently, the turmoil seems to stem from concerns over trade wars brewing as a result of Trump tariffs.
It is very concerning that people are so easily deceived. We say this in response to the breaking news today that Elizabeth Holmes, the CEO of Theranos, has been charged with “massive fraud.” She founded Theranos on the concept that she could develop commercially-ready portable "blood analyzer” that could perform many lab tests cheaply, only using a small blood sample. In fact, she convinced people, according to what we have read, to invest $700 million between 2013 and 2015 in the company. The SEC investigation resulted in Theranos’ license to be revoked and Holmes will pay a $500,000 penalty, as well as being banned from holding an executive role at any publicly traded company for ten (10) years. She also has to return nearly 19 million shares.
Many leading and well regarded news companies were also fooled.
According to USA Today, Holmes, 34, was hailed as the “next Steve Jobs” by Inc. Holmes founded Theranos in 2003 at age 19 after dropping out of Stanford University.
Really? Pumping $700 million into a 19 year old! Maybe for an app that drives millions of users. But for a major scientific breakthrough? Really! Were the investors so stupid that no one hired a consultant to review any of the claims prior to committing millions? I want to mention at this time I have a son that is 20 and has a concept to cure all cancer - he needs only $1 billion (a little more than $700 million) to make it happen. There's no need to review anything. If you invested in Theranos we are especially interested in talking to you. Make the checks payable to CASH (Cancer Annihilation System of Healing). I want to mention that I also own Yellowstone National Park it has unlimited oil reserves and I am taking offers we will do the transaction in BItcoin as it is safe.