Porter Stansberry – Porter & Co – TheAmericanDreams – MarketWise – ?I’m sorry if I missed anything here at Stockgumshoe about these entities, but what is all/any of this about?
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Porter says Boston will freeze without Putin’s LNG.
Porter Stansberry retired from Stansberry Research after selling it to a SPAC during the SPAC mania, so his former company (which he still owns a big chunk of) is now MarketWise (MKTW). It only took him a year or so of being retired to get him revved up about something else, so he started Porter & Co., which is separate from MarketWise and Stansberry Research but is starting to be pitched just about as aggressively as Porter’s old stuff.
His latest ads about the men destroying the world, and about the natural gas crisis, are all essentially pitching the same energy companies he’s been touting since last Spring, and they have been covered a few times in this space — most recently here: https://www.stockgumshoe.com/reviews/the-big-secret-on-wall-street-this-week/whats-porters-two-men-destroying-america-pitch-all-about/
Thank you Travis for all of that, very helpful..
This is not exactly on topic but it appears Porter is not happy with his former company. He wrote a letter last week to the Board of Directors of Marketwise demanding all of them resign save one, Van Simmons. So, it would seem that includes his boyhood friend Steve Sjuggerud. He’s also demanding a special meeting of the shareholders in lieu of a Board of Directors meeting scheduled for this week.
https://investors.marketwise.com/static-files/3d2a81fd-a7c2-41f4-a6cc-605dee7f06cf
Yes, from the interviews I’ve heard with him of late he’s quite livid — he thought he had a huge stake in a $3 billion company he had mostly built over 15 years or so… and whether nor not his idea of what it should have been worth was fair, it sure was a disappointing SPAC merger for him and other shareholders. Now the whole thing is only worth $75 million. I didn’t notice at the time, but Porter’s old friend Sjuggerud took over as interim CEO when Mark Arnold resigned in November… and he also came “back to work” as a pundit this month with some big new promos. I assume they’re still friendly, but who knows, maybe Sjug is one of the guys Porter thinks robbed him.
Apparently a newsletter business like MarketWise (MKTW) is not a giant whale that slowly eats subscribers and grows… it’s a shark that has to be constantly moving and eating just to survive.
An update on last night’s Steve Sjuggerud 2023 Market Warning. It was a pitch for True Wealth Systems, too rich for my blood. But his free pick was PayPal and his avoid stock is Kohl’s. With PYPL at a P/E of 43, I think I will pass.
Transcript is here: https://orders.stansberryresearch.com/?cid=MKT711641&eid=MKT714841&step=start&plcid=PLC168917&SNAID=SAC0000035723&encryptedSnaid=L5%20cwW%2FoeiYHQ65Z%20cjSmUUUHcRmC8uj1AxVLtMfv6s%3D&emailjobid=5293346&emailname=2023-0201-TWS-Dedicated-DIG&assetId=AST284180&page=2
The company I think you want to either dump immediately or avoid all together is Kohl’s Corporation (KSS).
The company is actually up more than 20% this year, but I suspect that’ll turn any day now.
You do not want to own this stock. It turns all of our screens red.
Did you know they’re actually charging customers a 15% restocking fee to return things now?
Their financials are just awful and I wouldn’t be surprised if we see more stores start closing soon.
They have 23 locations with leases expiring soon and I suspect they’ll shutter their doors as the stock falls.
And the stock to buy? It’s PayPal (PYPL).
They’re a global leader in digital payments and as hard as it is to believe, they’ve been around for over 20 years now.
And in that time, they’ve built an incredible trust with their users… a trust that’s really put them in a great position coming out of this bear market.
PayPal has 432 million accounts that on average do 50 transactions apiece. And in the most recent quarter, the company did $337 billion in payment volume.
The company’s grown like crazy throughout the pandemic, too.
Accounts are up 40%… transactions are up 56%… revenues and free cash both up 40%+. And the growth is just getting started.
Revenue and free cash should be up 14% and 17% over the next year.
So, this is exactly the kind of stock that we want to own today for this upcoming surge.
It has a strong growth profile and high profitability. However, just like a lot of the stocks out there, it absolutely crashed in 2022.
But that means we can buy it really cheap today…
It’s actually cheaper today than it was during its pandemic bottom. And to me, AND our system… that spells a HUGE opportunity.
I believe we could see PayPal soar more than 500% by the end of the decade.
Thank you so much, dfiel. You saved me at least an hour of tedious listening.