Sarepta Therapeutics (SRPT) is presented as a compelling long-term investment, with a price target of $50 to $60 based on its undervalued drug revenue potential. Conversely, a strong bearish conviction suggests the entire quantum computing sector is worthless and presents a significant shorting opportunity. Specific high-conviction shorts within this theme include D-Wave (QBTS), Rigetti (RGTI), and IonQ (IONQ). Other stocks identified as promising shorts with high conviction are Anavex (AVXL) and Capricorn Therapeutics (CAPR). For a simple bullish position, Rocket Pharmaceuticals (RCKT) is highlighted as a trusted company to consider.

Sarepta Therapeutics (SRPT)

• The speaker is actively trading SRPT, mentioning he sold some shares at $28 and was looking to buy them back.
• He expresses a bullish long-term view, stating he is confident the stock is worth $50, maybe $60.
• The valuation is based on specific revenue projections:
  • A $500 million bare minimum in sales for their drug Elevidys.
  • $900 million for their PMO drugs.
  • This totals $1.4 billion in high-margin revenue.
• He believes that once the "dust clears," the company could be valued by private equity at at least five times sales.
• He notes that the company is licensing out some drugs they are no longer working on, which he describes as "perfectly good drugs" available "on the cheap" for someone willing to build a company around them.
• He also points out a potential management change, suggesting the current CEO may be on his way out after the CFO was promoted to COO.

Takeaways

• The speaker sees significant upside in SRPT, with a potential price target of $50-$60 per share.
• This bullish thesis is based on a belief that the market is undervaluing the company's $1.4 billion in high-margin revenue potential from its key drug franchises.
• The investment may require patience, as he notes it could take a year for the "dust to clear." This is presented as a long-term value investment opportunity.

Quantum Computing (Sector)

• The speaker is extremely bearish on the entire quantum computing sector.
• He states, "quantum's all going to zero" and "I'd say quantum's worthless."
• His core thesis is that the technology is not commercially viable and will not be for a long time, predicting "No revenue in quantum for 10 years."
• He has multiple short positions in the sector, including D-Wave (QBTS), Rigetti (RGTI), and IonQ (IONQ). He notes that if he had never shorted quantum stocks, his portfolio would be up significantly.
• He believes the SEC needs to get involved in the quantum sector, implying fraudulent activity.

Takeaways

• The speaker has a high-conviction short thesis on the quantum computing sector as a whole.
• Investors should be extremely cautious with stocks in this space, as the speaker believes they are fundamentally worthless with no near-term revenue prospects.
• This is a strong contrarian view against the general market hype for quantum technology.

D-Wave Quantum (QBTS)

• The speaker is extremely bearish and actively shorting QBTS. It is his single biggest losing position in the tracked portfolio, down 30%.
• He calls the company's product "stupid shit" and questions whether it works or is even truly quantum, referencing a negative research paper from "Ulic."
• A major part of his bearish thesis is the company's lack of accessibility. He notes that unlike competitors IonQ and Rigetti, D-Wave does not provide easy access for people to use its machines, requiring a lengthy approval process. He speculates this is because they are hiding the fact that the product doesn't work.
• He believes the orthodox opinion on Wall Street is that "D-Wave is a huge scam."

Takeaways

• This is a high-conviction short idea. The speaker believes the company is a "scam" with a non-functional product.
• The difficulty in getting access to D-Wave's machines is presented as a major red flag, suggesting the company may be hiding performance issues.
• Investors should avoid this stock due to the severe risks and skepticism presented.

Rigetti Computing (RGTI)

• The speaker is bearish and holds a significant short position in RGTI. It is his biggest position by size and his second-biggest loser in the portfolio, down 19%.
• He mentions shorting the stock after what he called a "bullshit press release," expecting the price to fall back down, but it did not.
• He contrasts Rigetti's open access model with D-Wave's, noting that anyone can use Rigetti's machines.

Takeaways

• This is a bearish call. The speaker is actively shorting the stock, viewing recent price appreciation as unfounded.
• While he believes the entire quantum sector is a short, he has singled out RGTI as his largest position, indicating a high level of conviction in its eventual decline.

IonQ (IONQ)

• The speaker is bearish on IONQ as part of his broader short thesis on the quantum sector.
• He is short the stock, and it is a losing position in his portfolio (down 4%).
• He mentions that someone on social media believes they can hurt him financially by getting IONQ to $100, highlighting the retail momentum behind the stock.
• He notes that, unlike D-Wave, "Anybody can use IonQ," as they do not have a restrictive approval process.

Takeaways

• This is a bearish call, consistent with the negative view on the entire quantum computing space.
• Investors should be aware that this stock has strong retail interest, which can lead to price movements that are disconnected from fundamentals.

Rocket Pharmaceuticals (RCKT)

• The speaker expressed a clear and simple bullish sentiment.
• He stated, "I like Rocket. I like Rocket. I trust." He made sure to clarify he meant Rocket Pharma, not Rocket Lab.

Takeaways

• This is a straightforward bullish mention. While no detailed thesis was provided, the speaker's conviction was clear. Investors might consider this a signal to conduct further research into the company.

Other Stock Mentions

• ASPI: The speaker stated, "ASPI is probably a good short." No further details were provided.
• Anavex Life Sciences (AVXL): He is short the stock and believes "AVXL will be a big profit too. Just trust."
• Capricorn Therapeutics (CAPR): He is short the stock and expressed regret for not having a larger position, stating it "got smoked." He is confident his position "will be a profit."
• Johnson & Johnson (JNJ): He has a neutral-to-negative view, stating their "pipeline is pretty weak" and medical device growth is slow. He speculates they may spin off their MedTech division.
• General Electric (GE): He is interested in researching GE primarily because a respected fund, TCI, has a long position in it.
• Inmune (INMB): This was mentioned as his biggest winner in the portfolio, up 44% on the trade. This reflects a past successful bullish call.
• Lucid (LCID): He was dismissive, saying it "doesn't seem that interesting" despite being actively traded.