Earnings Highlights & A Huge Upcoming Catalyst For Viking Therapeutics, Mark This Date.
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00:00All right, let's move on to Viking Therapeutics. Of course, we know Viking has exploded this year
00:08based on the weight loss drugs. The company did report earnings yesterday, but we do have some
00:12upcoming data in a couple of weeks as well. Viking Therapeutics Gap EPS, a loss of $0.22.
00:20That beat the estimates by $0.03. Let's see. We also had earnings, which are meaningless. It's
00:30all about the commentary for the November 3rd release of the data that we're looking for.
00:37We've got data coming on the evening. It's supposed to be coming on the evening of November
00:41the 3rd. Write that on your calendar. This is obviously on their weight loss oral pill.
00:49Tolerancy was very good. The CEO or whoever it was, I'm not sure it was CEO, but the commentary
00:54from the conference call was the tolerability seems to be really good. They think this pill's
01:01going to be a game changer because right now everybody's got to get the shot, right? Like,
01:04bang, you're hitting yourself. You're hitting yourself all the time. Imagine just being able
01:07to pop a pill. It sounds pretty good. It sounds like it's going to, if they can get it, obviously,
01:14to get FDA approval. We're still a long ways away. We're phase two awaiting phase three.
01:20We're still a long ways away here. They're obviously burning cash as they try to get there,
01:24but they have a pretty good cash order here too. I firmly believe I'm long Viking Therapeutics,
01:30full disclosure. I've been long it for a while. I've been trading it in and out, but I'm long
01:33it right now. I believe that I think somebody's going to come and buy it at the phase three trial.
01:41I think they're going to be like, okay, we're through phase three. This looks for real.
01:45You got Pfizer sitting there with nothing. You got Merck sitting there with nothing.
01:51You got Bristol-Myers sitting there with nothing and you got Lilly just killing it. It's like,
01:55how do we get in this game? Here's Viking Therapeutics trading. What's the market cap,
02:00AB? Can you go look that up, please? The market cap for Viking Therapeutics is $6.7 billion.
02:06Would you pay $10, $12 billion if you were one of those companies and you're hurting for growth
02:10and you're trying to get in this weight loss game? I would. That's why I'm holding a core
02:15position of Viking Therapeutics. I continue to trade it all the time. It dips, I buy it,
02:20I flip it out and sell it when it rips again, but I'm holding a core position,
02:24similar to what I've been doing with Tesla. Go ahead, AB.
02:29I was going to say, if the election is on November 5th and that's a Tuesday,
02:34let me look at my calendar real quick. The data is going to come out on November 3rd,
02:37which is a Sunday I'm seeing. Is that right? Is there a conference? I've got the date from
02:44multiple places. Is it like a JP Morgan healthcare conference or something?
02:48I don't know if there's a conference or what it is, but it's supposed to be coming out on
02:51the evening of November 3rd. Can anybody else verify that? Ryan Faluna says yes.
02:56Yes. I believe it's November 3rd on the evening. Who was it, or is it you, Dennis,
03:02that talks about owning IBB over the weekend?
03:05XBI, not IBB. The trade, again, to clarify that is, I do it every single Friday. It's
03:11the Friday to Monday trade. That's for acquisitions, not that.
03:15I don't think anybody talks about this trade except me. I've been doing it for two years.
03:20It doesn't work 100% of the time, but it works a lot of the time. What's that quote from Anchorman?
03:2560% of the time, it works every time. Something like that. Anyways, that's the XBI trade.
03:32I'll give it to you again. It's not IBB because IBB is all the big ones. They're the ones that
03:35are doing the acquiring. The XBI is the small ones. You never know what the hell is going to
03:41happen, but typically, and this is a big strategy here, so listen up, folks, if you haven't heard
03:46me say this one before. Typically, small biotech stocks get bought on the Monday because they're
03:52working together over the weekend. They're getting eyes down, the T's crossed, and they
03:55get announced on the Monday morning. Why I do XBI on the Friday night trade
04:00is because you often get that. If there's one of these companies and there's 150 stocks on the XBI,
04:07if one of them gets bought out, you often see that 1% pop on the XBI.
04:12You're getting exposure for the potential of buyouts all the time. You don't usually see it
04:16on a Wednesday. You don't usually see it on a Thursday. My trade has been, I've been long VKTX
04:22every weekend. I've been long XBI every weekend. I've been doing this trade, the VKTX one, for a
04:28long time. I'm long VKTX overall, but I buy more on the Friday night. It's like, what if they announce
04:33it Monday? What if this is VKTX day? They don't announce it, I try to get out. They don't announce
04:38them, there's no big merger XBI, I get out. I get out on the Monday morning. Again, holding VKTX
04:42in the long position, not trading that one, but in and out of the VKTX weekend trade because I think
04:49eventually, I think, I don't know anything. If I knew everything, I would be the richest man in
04:54the world. I think eventually, somebody is going to buy it. The odds are, it's probably going to
04:59be announced on a Monday morning. I get more exposure. I don't have to take the risk through
05:03the week. You often see it even pop up sometimes even in the after hours session where people are
05:07just getting excited. Maybe you could flip out for a quick profit on that too. That's the trade.
05:13I don't know anybody else that's ever talked about that trade before. I created it for myself
05:18just out of observation. I know overall, I make money with it. If you want to try that trade,
05:24again, don't get married. I hedge it. XBI hedge with IWM because if markets get killed
05:31over the weekend, IWM and XBI are loosely correlated. Jobless claims.