Friday, August 23, 3034

FRIDAY, AUGUST 23, 2024

Good Morning! On this day in 1305, William Wallace, one of Scotland’s greatest national heroes and the chief inspiration for Scottish resistance to the English king Edward I, was indicted, condemned to death, and executed.

Here’s some sparkling news: A 2,492-carat diamond was found in Botswana, the biggest diamond discovered in over a century. Read more about it in our Et Cetera section.

Our report Thursday on Democratic vice-presidential nominee Tim Walz was inaccurate. His military unit was deployed to Iraq, not Afghanistan.

We hope you enjoyed reading today’s Flyover. Let us know how we’re doing by replying to this email.

We’re sponsored today by Monogram, the Austin-based company known for its autonomous robotic surgical systems. Check out their investment opportunities today.

Kamala Harris Accepts Nomination

Vice President Kamala Harris accepted the Democratic nomination for president Thursday night, giving a roughly 40-minute speech promising to unite the nation while heavily criticizing former President Donald Trump.

Harris was frequently interrupted by cheers and applause from the delegates as she highlighted her policy positions on health care, voting rights, and social security and promised a middle-class tax cut for 100 million Americans.

In the area of foreign policy, Harris stated her support for Ukraine, NATO, and Israel while also backing Palestine’s right to exist.

Throughout the speech, Harris attacked former President Trump for his policies while repeatedly calling for unity and describing the country as ready to move forward.

Canada Rail Strike Threatens U.S.

A rail labor dispute in Canada has shut down freight traffic on the country’s two largest railways, threatening crucial supply chains across North America.

The shutdown, which began after a failed negotiation with the Teamsters union, has disrupted the transport of over $1 billion in goods daily and affected more than 30,000 commuters in major Canadian cities.

The prolonged dispute could have significant economic impacts on Canada and the U.S., potentially disrupting shipments of goods ranging from grains and beans to potash, coal, and timber.

List: Largest Source of Tax Revenue by State

A list of each state’s largest source of tax revenue shows that a majority of states rely on sales taxes, while the rest depend on state income taxes. You can see a state-by-state map here.

Florida relied on sales taxes for over 64% of its state tax revenue, making it the state most dependent on that source in the nation.

For states with high median resident incomes, such as California, New York, Utah, and Massachusetts, personal income taxes represent the largest source of tax revenue.

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➤ The Supreme Court agreed to partially revive Arizona’s law requiring proof of citizenship for voter registration on Thursday but blocked enforcement of a provision requiring proof in order to vote. (More)

➤ Independent presidential candidate Robert F. Kennedy Jr.’s overall support has declined, but he has more support among Republicans than Democrats, according to a new poll. (More)

➤ The FBI has launched an investigation into whether maggots were deliberately placed in a delegation breakfast at the DNC, according to officials. No consumption of contaminated food was reported. (More)

Flying together with our sponsor

Monogram (Nasdaq: MGRM), the Austin-based company known for its autonomous robotic surgical systems, completed a crowd-funded public offering and NASDAQ Listing last year. What’s next? They just filed for FDA approval to market and commercialize their patented AI joint replacement tech. By the year 2027, 50% of knee replacement surgeries will be robotic – up from 12% today.

Monogram actually made history in the Lonestar State last year, successfully completing the first fully remote demonstration surgery between New York and Austin. Now, Monogram’s opened a unique opportunity for investors. They are selling preferred shares in their company. This isn’t the same stock trading on the Nasdaq. These shares feature:

Dividends: The preferred shares pay an 8% annual dividend (in cash or kind)
Warrants: Each preferred share comes with a warrant for future shares of common stock
Conversion: Preferred shares can be converted 1:1 into common shares

MGRM public shares closed as high as $3.32 within the past month, but these unlisted preferred shares are available for $2.25. Monogram currently plans to close the Series D Preferred offering on September 12, 2024. Learn more on their website.

* ^{This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to ^{read the prospectus supplement and accompanying base prospectus} carefully for a more complete understanding of the issuer and the offering.}

^{The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over-the-counter market.}

^{DealMaker Securities LLC, a registered broker-dealer and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA’s BrokerCheck.}

➤ Veteran first baseman Joey Votto announced his retirement from baseball on Wednesday, ending a 17-year career that saw the former Cincinnati Reds star win an MVP award and make six All-Star teams. (More)

➤ The Denver Broncos have named rookie first-rounder Bo Nix as their starting quarterback for the upcoming NFL season. Nix completed 76% of his preseason passes, throwing zero interceptions. (More)

➤ The Atlanta Falcons have signed AJ Terrell to a four-year $81 million contract, making him the second-highest-paid cornerback in NFL history. (More)

Today’s election section is brought to you by:

Election Countdown: 75 Days

A new poll revealed that Senator Ted Cruz leads Rep. Colin Allred by 46.6% to 44.5% in the Senate race, while former President Trump is ahead with 49.5% to 44.6% over Vice President Harris in Texas’ presidential matchup. (More)

Former Speaker Nancy Pelosi drew attention walking to the podium Wednesday night at the Democratic convention when something fluttered to the stage out of her pants leg. (See Video)

Democratic Senator John Hickenlooper announced on Wednesday that he will seek reelection only once and limit himself to two terms. (More)

Flying together with our sponsor

Weight loss is made easy with a prescription for semaglutide. There’s a reason why everyone is talking about semaglutide. It works. On average, people on Ozempic or Wegovy lose 15% of their weight in a year or less. (See it here)

Daily Market Report 08/22/2024

▼	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	17,619.35	-1.67%
▼	SPX S&P 500	5,570.64	-0.89%
▼	DJI Dow Jones Industrial Average	40,712.78	-0.43%
▼	BTC Bitcoin	$60,540.44	-1.04%
▲	GOLD Per Ounce	$2,520.60	+0.49%
▼	AAP Advance Auto Parts	$51.10	-17.47%

➤ Big Stock Move: Advance Auto Parts stock dropped 17% Thursday on news that it missed expectations for the second quarter and lowered its guidance for the full year. (More)

➤ Brown-Forman Corp, the maker of Jack Daniel’s whiskey, said it would pull back on its diversity initiatives rather than face a boycott effort on social media. (More)

➤ Monthly mortgage payments declined slightly in the past month for the first time in four years, following a modest decline in mortgage interest rates. (See Details)

➤ Peloton announced Thursday that it will start charging new subscribers a one-time $95 activation fee if they bought their Peloton equipment on the second-hand used market. (More)

Flying together with our sponsor

➤ Did you know some credit cards can actually help you get out of debt faster? Yes, it sounds crazy. But it’s true. The secret: Find a card with a “0% intro APR” period for balance transfers. Then, transfer your debt balance and pay it down as much as possible during the intro period. No interest means you could pay off the debt faster. Check out the full list of cards you can use to do this here.

Flying together with our sponsor

Elite investors often get special deals that aren’t available to the public. Take Warren Buffett, for example. When he invested $10B in Occidental Petroleum, he didn’t buy the publicly traded stock. He got preferred stock, paying an 8% dividend.

While you won’t be investing alongside Warren Buffett, Texas-based Monogram is offering you preferred stock with an 8% dividend (in cash or shares of MGRM) that’s convertible to its common stock.

Monogram’s common stock (MGRM) closed at $3.32 earlier this week, but the unlisted preferred stock (which is convertible into one share of common) is available for $2.25 per share. This opportunity is planned to come to an end on September 12, 2024.

^{* This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to read the prospectus supplement and accompanying base prospectus carefully for a more complete understanding of the issuer and the offering.}

➤ Scientists have observed humpback whales creating and manipulating “bubble nets” to hunt prey, potentially demonstrating considerable intelligence and tool use. (More)

➤ Two Ohio businessmen partnered with the city of Cleveland and produced “Stella,” a road-painting robot to help reduce costs and improve worker safety in road marking operations. (See Video)

➤ Tesla is recruiting workers to train its humanoid Optimus robot, using motion capture technology to replicate actions that the robot will perform. (See Photo)

Flying together with our sponsor

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➤ Nineteen Afghan women, banned from medical studies by the Taliban, will complete education in Scotland thanks to a foundation that arranged their visas and university places. (More)

➤ In Japan, pig cafes have been gaining popularity. Visitors pay $15 to cuddle with Corgi-sized micropigs. (See Photos)

➤ “Libraries were our internet.” A dad’s viral video showcasing his 1980s childhood experiences to his 8-year-old son has sparked nostalgia among Gen X viewers. (Watch Video)

➤ A California hospital mistakenly told a woman’s family she had checked out when, in reality, she had died. Her body was found a year later in hospital storage. (See Details)

➤ The largest diamond discovered in over a century, weighing 2,492 carats, has been unearthed at a mine in Botswana. (More)

➤ Legendary Cuban singer Celia Cruz has become the first Afro-Latina to appear on a U.S. quarter, with the coin featuring her smiling face and signature catchphrase “¡AZÚCAR!” (See Coin)

Flying together with our sponsor

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