Market Signal Briefing

Array Digital Infrastructure delivers wireless services and device sales to consumers, businesses, and government clients nationwide.

On February 17, 2026, Newtyn Management disclosed a buy of 350,000 shares of Array Digital Infrastructure (AD 2.13%), an estimated $17.3 million trade based on quarterly average pricing.

What happenedAccording to an SEC filing dated February 17, 2026, Newtyn Management increased its position in Array Digital Infrastructure (AD 2.13%) by 350,000 shares. The estimated transaction value was $17.3 million, calculated using the average closing price during the quarter. The fund’s quarter-end stake stood at 1,700,000 shares, with the value rising $23.6 million from the previous period, which includes both trading activity and stock price fluctuations.

What else to knowTop holdings after the filing:NYSE: AD: $91.15 million (9.7% of AUM)NASDAQ: INDV: $90.94 million (9.7% of AUM)NASDAQ: QDEL: $86.10 million (9.1% of AUM)NYSE: NVRI: $82.42 million (8.8% of AUM)NASDAQ: TBPH: $80.45 million (8.5% of AUM)As of February 17, 2026, shares were priced at $51.24, down about 25% over the past year.Company overviewMetricValuePrice (as of market close February 17, 2026)$51.24Market capitalization$4.41 billionRevenue (TTM)$3.77 billionCompany snapshotArray Digital offers wireless telecommunications services, including voice, messaging, data, and a range of wireless devices and accessories; also provides tower rental and roaming services.The firm generates revenue through direct and third-party retail sales, device installment contracts, and service subscriptions across consumer, business, and government segments.It serves a broad customer base encompassing individual consumers, businesses, and government agencies throughout the United States.Array Digital Infrastructure is a leading wireless telecommunications provider with significant scale, serving diverse customer segments through multiple distribution channels. The company leverages its extensive network infrastructure and product portfolio to drive recurring service revenues and capitalize on device sales. Strategic focus on both direct and partner-driven sales channels supports broad market reach and competitive positioning in the U.S. telecommunications sector.

What this transaction means for investorsNewtyn is shifting capital toward a business that just reinvented itself and is finally showing operating leverage. After divesting its wireless operations and monetizing spectrum, Array is now a focused tower company with cleaner earnings and visible cash flow.

Fourth-quarter revenue from continuing operations jumped to $60.3 million from $26.1 million a year ago, while full-year revenue climbed 58% to $163 million. Net income from continuing operations reached $172 million for 2025, or $1.94 per diluted share, a sharp swing from the prior year’s loss. Site rental revenue rose 51%, and tower tenancy ticked up to 1.03 across 4,450 towers. Management is guiding to $200 million to $215 million in revenue for 2026, with adjusted EBITDA of $200 million to $215 million.

Yes, the stock is still down about 25% over the past year, but the capital return story is real. The company paid a $23 special dividend in 2025 and another $10.25 in early 2026 after closing spectrum transactions.

Within a portfolio tilted toward healthcare and special situations, this 8.8% position stands out as an infrastructure play with contractual revenue, improving margins, and tangible cash generation. Long-term investors should watch tenancy growth and capital discipline more than short-term price swings.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends QuidelOrtho. The Motley Fool has a disclosure policy.

Vistance Networks delivers connectivity and network solutions for telecom, data centers, and enterprise clients worldwide.

On February 17, 2026, Newtyn Management bought 1.6 million shares of Vistance Networks (VISN +2.32%) in the fourth quarter.

What happenedAccording to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Newtyn Management bought 1.6 million shares of Vistance Networks in the fourth quarter. The quarter-end position value was $40.23 million, up from $9.29 million in the previous quarter.

What else to knowTop five holdings after the quarter:NYSE: AD: $91.15 million (9.7% of AUM)NASDAQ: INDV: $90.94 million (9.7% of AUM)NASDAQ: QDEL: $86.10 million (9.1% of AUM)NYSE: NVRI: $82.42 million (8.8% of AUM)NASDAQ: TBPH: $80.45 million (8.5% of AUM)As of February 17, 2026, shares of VISN were priced at $19.10, up 250% over the past year and well outperforming the S&P 500’s roughly 13% gain in the same period.Company overviewMetricValuePrice (as of market close February 17, 2026)$19.10Market capitalization$4.23 billionRevenue (TTM)$4.21 billionNet income (TTM)($287.60 million)Company snapshotVistance Networks provides fiber optic and copper connectivity, cable solutions, cellular and Wi-Fi network equipment, IoT platforms, security software, and access network infrastructure for telecom, data center, and entertainment networks.The firm generates revenue through product sales, software licensing, and cloud-based services delivered via direct sales, distributors, resellers, and OEM partnerships.It serves telecommunications operators, cable television providers, data center managers, multi-system operators, and enterprise customers worldwide.Vistance Networks is a leading provider of communications infrastructure solutions with a global presence and a diversified product portfolio. The company leverages its scale and engineering expertise to serve critical connectivity needs across telecommunications, data centers, and enterprise networks. Its integrated approach and broad customer base support its competitive positioning in the communications equipment industry.

What this transaction means for investorsNewtyn is making a big bet on a company that just shed its legacy baggage and is emerging as a more focused network infrastructure player. After selling its Connectivity and Cable Solutions segment to Amphenol, the parent rebranded as Vistance Networks and now centers on Access Networks and RUCKUS. The divestiture is expected to eliminate outstanding debt and preferred equity, with management signaling a dividend of at least $10 per share following the close.

Before the rebrand, the business delivered serious momentum. Third quarter 2025 consolidated net sales rose 50.6% year over year to $1.63 billion, with GAAP income from continuing operations of $106.9 million. Meanwhile, RemainCo adjusted EBITDA nearly doubled to $90.6 million. That operating leverage helps explain why the stock has surged 250% over the past year.

Compared to Newtyn’s other holdings, this communications infrastructure name offers cyclical exposure tied to broadband and enterprise upgrades. It is not a sleepy telecom utility, but a post-transaction story with improving margins, a cleaner capital structure, and potential shareholder returns. Long-term investors should watch execution in ANS and RUCKUS and how management allocates the expected excess cash after the divestiture closes.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends QuidelOrtho. The Motley Fool has a disclosure policy.

The company's upcoming earnings report will likely offer significant insight into its plans for 2026.

After the market closes on Wednesday, Feb. 25, the artificial intelligence (AI) chip giant Nvidia (NVDA +0.94%) will report its 2026 fiscal fourth-quarter and full-year earnings, followed by a conference call between CEO Jensen Huang, other members of Nvidia's management team, and Wall Street analysts. These events are pure cinema for market watchers, who have seen Nvidia carry the stock market higher in recent years.

Earnings reports are always a massive event for Nvidia, as investors view them as a gauge of the entire AI market. Here are three important things to watch for.

Image source: Nvidia.

1. Data center revenue and AI demand On Nvidia's last earnings call, the company guided for $65 billion in total revenue in the fourth quarter, so meeting or exceeding this number is always the first question on investors' minds, with guidance for the next quarter also top of mind.

Most of Nvidia's revenue comes from its data center division, which supplies the key hardware, including graphics processing units (GPUs) and servers, to data centers that the hyperscalers depend on to run their AI models and solutions.

Investors will be looking at factors within this division to gauge broader AI demand. For instance, what is sentiment and demand like for Nvidia's most powerful GPUs, called Blackwell, and how effective has the new technology been at training AI models? Will the extraordinary demand that management has claimed historically be reflected in the numbers?

Last quarter, Nvidia CFO Colette Kress said Nvidia sees a $500 billion opportunity between last quarter and the end of 2026 for Blackwell and its next GPU model, called Rubin, and that future aggregate demand will likely increase. Investors will be monitoring whether this has come true, as well as management's language and excitement around the potential opportunity.

2. Pricing power Pricing power is important to investors because it indicates a company's competitive position in a specific market. Nvidia has dominated the chip and AI hardware space, leading to incredible margins. However, other companies, including the hyperscalers, are designing their own chips, and some investors are concerned about Nvidia's competitive position.

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In the nine months ending Oct. 27, 2024, Nvidia generated an operating gross margin of over 76%. But for the same time period in 2025, that number fell to 69.5%, as the company dealt with higher input costs. However, Nvidia showed improvement more recently, generating an operating gross margin of 73.6% at the end of last quarter. Management's goal is to exit its fiscal year 2026 in the mid-70s.

Naturally, investors will be looking at whether the company achieved this and what management's guidance is for margins in the upcoming fiscal year.

3. What's going on in China? Another big aspect of Nvidia's business that investors will be looking for an update on is its operations in China. For much of 2025, the company could not sell older versions of its chips to businesses in China due to U.S. government restrictions. Huang has spent time lobbying in Washington, D.C., and appears to have made progress, though the news seems to change constantly.

In December, Huang appeared to have struck a deal with the Trump administration that would allow the company to sell its H200 chips in China, where there has been significant demand in the past. The U.S. government would receive a quarter of the money made from the sales.

But as of early February, the administration was still conducting a national security review of the deals and the customers Nvidia would be selling to in China. Meanwhile, Chinese regulators are also expected to have some conditions regarding the sales, if the U.S. approves them.

Last August, Huang said the Chinese market would have been a $50 billion annual opportunity for Nvidia last year, had it been fully open. He also said he could see this opportunity growing 50% per year. Nvidia is currently not assuming any revenue from China in its fiscal 2026 fourth-quarter guidance, so it's easy to see how big it would be for Nvidia if the company could reopen its operations there.

Kirby Corporation moves petrochemicals and refined products by barge, serving vital U.S. energy and industrial supply chains.

On February 17, 2026, Atlantic Investment Management, Inc. disclosed a new position in Kirby Corporation (KEX +1.96%), acquiring 223,000 shares in an estimated $24.57 million trade based on quarterly average pricing.

What happenedAccording to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Atlantic Investment Management, Inc. established a new position in Kirby Corporation (KEX +1.96%) by purchasing 223,000 shares. The fund’s quarter-end position in Kirby Corporation was valued at $24.57 million, reflecting both the share purchase and stock price movement during the period.

What else to knowThis was a new position for the fund, making up 13.8% of 13F reportable assets under management after the trade.Top five holdings after the filing:NYSE:AXTA: $33.09 million (18.6% of AUM)NYSE:KEX: $24.57 million (13.8% of AUM)NYSE:FLS: $21.79 million (12.3% of AUM)NYSE:APTV: $21.00 million (11.8% of AUM)NYSE:OSK: $19.42 million (10.9% of AUM)As of February 17, 2026, shares of Kirby Corporation were priced at $126.68, up 20% over the past year and well outperforming the S&P 500’s roughly 13% gain in the same period.Company overviewMetricValueRevenue (TTM)$3.36 billionNet income (TTM)$354.57 millionMarket capitalization$7.07 billionPrice (as of market close February 17, 2026)$126.68Company snapshotKirby offers marine transportation services via tank barges and towboats, transporting petrochemicals, black oil, refined petroleum products, and agricultural chemicals; it also provides distribution and services for engines, transmissions, and energy storage equipment.The firm generates revenue primarily through transportation of bulk liquid products across U.S. inland and coastal waterways, as well as through sales, rentals, and aftermarket services for marine and industrial equipment.It serves industrial companies, oilfield operators, and the U.S. government, with a focus on the U.S. inland waterway system and coastal trade.Kirby Corporation is a leading provider of marine transportation and distribution services in the United States, operating a large fleet of tank barges and towboats. The company leverages its scale and expertise to serve critical energy and chemical supply chains across major waterways. Kirby's integrated business model and broad customer base support its position as a key logistics partner in the marine shipping industry.

What this transaction means for investorsThis move matters because it plants real capital behind a business already operating at record earnings with improving fundamentals, not just cyclical hope.

Kirby just delivered $6.33 in diluted EPS for 2025 on $3.36 billion in revenue, up from $4.91 a year ago, with fourth-quarter EPS of $1.68. Marine transportation posted a 20.8% operating margin in Q4, while distribution and services grew operating income and continues to benefit from power generation demand that rose 47% year over year in the quarter.

The position now represents 14% of reported assets, a meaningful allocation alongside other concentrated industrial names like Axalta and Flowserve. That signals conviction in a steady, asset-heavy operator tied to energy logistics and infrastructure rather than high-beta growth.

Inland utilization is already trending into the low 90% range, pricing appears to be firming, and management expects earnings in 2026 to be flat to up 12% year over year. Ultimately, for long-term investors, the story is operational leverage.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aptiv. The Motley Fool recommends Flowserve. The Motley Fool has a disclosure policy.

New York, New York--(Newsfile Corp. - February 22, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of CoreWeave, Inc. (NASDAQ: CRWV) between March 28, 2025 and December 15, 2025, both dates inclusive (the "Class Period"), of the important March 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased CoreWeave securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the CoreWeave class action, go to https://rosenlegal.com/submit-form/?case_id=50571 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants had overstated CoreWeave's ability to meet customer demand for its service; (2) defendants materially understated the scope and severity of the risk that CoreWeave's reliance on a single third-party data center supplier presented for CoreWeave's ability to meet customer demand for its services; (3) the foregoing was reasonably likely to have a material negative impact on CoreWeave's revenue; (4) as a result, CoreWeave's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the CoreWeave class action, go to https://rosenlegal.com/submit-form/?case_id=50571 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284687

Source: The Rosen Law Firm PA

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TLDR: Ethereum’s RWA market surpassed $15B in 2025, marking more than 3x growth within a single calendar year. Tether Gold and Paxos Gold combined to add over $4B in new tokenized gold value on-chain this year. BlackRock BUIDL, Ondo USDY, and WisdomTree posted triple to four-digit growth in Treasury-backed products. Syrup USDC and USDT scaled to $2.3B combined, proving strong demand for yield on idle stablecoins. RWAs on Ethereum have crossed the $15 billion mark, reflecting more than triple growth within a single year. The surge is largely driven by tokenized funds, gold products, and yield-bearing stablecoins.

Institutions are no longer testing the waters — they are committing real capital. This shift marks a turning point for on-chain finance, as real-world asset tokenization moves from concept to active deployment across major financial players.

Tokenized Gold and Treasury Products Lead the Charge Tokenized gold has scaled at an aggressive pace over the past year. Tether Gold grew from roughly $500 million to $2.7 billion during this period.

Paxos Gold also climbed to around $2.3 billion in total value. Together, gold products alone added over $4 billion in new on-chain value.

Treasury-backed products followed a similar trajectory. Ondo USDY, BlackRock BUIDL, Janus Henderson, Superstate, and WisdomTree all posted triple- to four-digit growth rates.

These are not small or speculative positions—institutions are directing meaningful capital toward these products. The numbers reflect a structural shift, not a temporary trend.

Crypto analyst Ted, posting under the handle @TedPillows, noted the pace of this growth. He wrote that RWAs on Ethereum “just crossed $15B” and described it as “more than 3x growth in a single year.”

His observation pointed to tokenized funds and short-duration U.S. Treasuries as the primary catalysts behind the move.

I’ve been watching RWAs closely this year.

And the growth is getting hard to ignore.

RWAs on $ETH just crossed $15B.

That’s more than 3x growth in a single year.

What’s driving it? Tokenized funds.

Mainly short-duration U.S. Treasuries and money market-style products, real…

— Ted (@TedPillows) February 22, 2026

The appeal of Treasury products lies in their familiarity and yield. These instruments offer stable returns while settling on-chain with full transparency.

As a result, they attract both traditional finance firms and crypto-native protocols seeking low-risk allocations.

Yield Products and DeFi Integration Expand the RWA Market New yield products have also contributed to the RWA market’s expansion. Syrup USDC and USDT scaled to approximately $2.3 billion combined within a short period. The speed of that growth points to strong existing demand for yield on idle stablecoins.

These products work because they plug directly into decentralized finance as collateral. Stablecoins parked in RWA-backed instruments can earn returns that were previously unavailable on-chain. This creates a practical use case that goes beyond speculation.

Ethereum continues to hold around 60% of the RWA market share. Stablecoins on Ethereum alone exceed $160 billion, which means RWAs at $15 billion still represent a relatively small portion of the broader base. There is room for continued expansion as more assets come on-chain.

Ted framed it plainly: “This is no longer pilots or experiments.” Settlement is transparent, programmable, and increasingly efficient.

The infrastructure supporting RWAs on Ethereum is maturing, and capital flows are following that maturity in real time.

Journalist

Posted: February 23, 2026

Aave gave long-term investors a glimmer of hope with the price action of the past two weeks.

Since making a low of $92.25 on Friday, the 6th of February, the DeFi protocol token’s price has rallied 29.7%.

Source: AAVE/USDT on TradingView

It was trading at $119.64 at the time of writing, but the long-term trend remained firmly bearish.

Moreover, the 3-day chart above highlights the series of lower highs and lower lows AAVE has made since the final week of September.

In the summer of 2024, the $117.57 level had been an obstacle to bulls’ attempts at recovery. They overcame the resistance in August 2024, kickstarting a rally that nearly reached $400 by the end of that year.

This was the same long-term level that AAVE was trading at once again.

In fact, the Fixed Range Volume Profile tool was used from August 2024, when the S/R flip occurred, to the present.

It showed that the Value Area Low (dotted blue) was at $121.2. The Point of Control (red) was at $168. The FRVP highlighted the long-term bearish pressure on AAVE. The bulls simply have to defend the $80-$100 demand zone if they want to prevent a slide to $50 later this year.

The OBV was above the April 2025 lows, which was a hopeful sign for the bulls. The protocol’s revenue-generating capacity remained strong, noted an AMBCrypto report.

The bearish warning signs for Aave The Total Value Locked briefly climbed to $27.7 billion, but over the past ten days, it has receded to $26.3 billion. News that BGD Labs, one of the top service providers to the Aave DAO, would quit by early April highlighted the Aave ecosystem division.

Source: AAVE/USDT on TradingView

The 4-hour chart reflected the market sentiment behind the altcoin. The $130 area has been a key supply zone in February. The repeated attempts to breach it suggested that some Bitcoin [BTC] bullish momentum could be enough to send AAVE beyond the local resistance.

To the north, the $148.6 was a pivotal resistance. Given the longer-term downtrend, a bearish continuation from this level is expected. On the other hand, a breakout past $163.9 would signal a bullish swing structure shift and the potential for recovery.

Final Summary The Aave price action remained firmly bearish, but short-term gains up to $148 appeared likely in the coming days. A bearish continuation at the $150 resistance, or a breakout past $164, would determine the next trend for the altcoin. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

On Sunday, Anthony Scaramucci said he believes markets have slipped into a bear phase and argued the real issue is duration, not whether the downturn exists. He has also urged investors to keep building positions in Bitcoin (CRYPTO: BTC), a stance reflected in accumulate don't speculate messaging tied to his long-running role as a high-profile crypto promoter.

In this week’s edition of weekly recap, XRP Ledger activated a members-only decentralized exchange for regulated institutions, Strategy reported its fourth-largest Bitcoin purchase of the year and Animoca Brands obtained regulatory approval in Dubai.

Summary

XRPL enables permissioned DEX for regulated institutional trading. Strategy buys 2,500 BTC using preferred share proceeds. Animoca secures Dubai VASP license for crypto operations. XRP Ledger enables institutional-only trading The XRP network has activated a new “Permissioned DEX” amendment designed to allow regulated institutions to trade on XRPL without opening markets to unrestricted participation. The technical upgrade, known as XLS-81, enables creation of permissioned decentralized exchanges functioning similarly to XRPL’s existing built-in DEX but with controlled access restrictions. Strategy acquires Bitcoin with preferred share proceeds The treasury company reported Tuesday its fourth-largest Bitcoin (BTC) purchase of 2025, acquiring 2,500 BTC for $168 million last week. Total holdings increased to approximately 717,100 Bitcoin following the acquisition. Animoca obtains Dubai regulatory authorization The digital asset venture capital company received Monday a Virtual Asset Service Provider license from Dubai’s regulatory authority governing the digital asset industry. The licensing approval enables Animoca to operate cryptocurrency-related services within the Emirate’s regulatory framework. Logan Paul’s Pikachu card sets auction record The YouTuber and entrepreneur sold his PSA-10 Pikachu Illustrator card for $16,492,000 in an auction conducted by Goldin. Guinness World Records confirmed the sale establishes the rare Pokémon card as the most expensive Pokémon card ever sold. Gemini implements senior leadership changes The cryptocurrency exchange disclosed Tuesday plans for restructuring that will see Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade depart effective February 17. Form 8-K filings indicate the company plans separation agreements potentially allowing temporary retention to assist transitions, during which executives would receive base salary and benefits without additional bonuses. Nevada regulators pursue Kalshi enforcement The Nevada Gaming Control Board filed civil enforcement action against KalshiEX LLC in Carson City District Court, accusing the federally regulated prediction market of offering unlicensed wagering. Regulators argue Kalshi’s sports-linked “event contracts” constitute gambling under Nevada law. Hyperliquid establishes Washington advocacy group The decentralized perpetual futures exchange launched a new advocacy organization to advance clearer decentralized finance regulations in Congress. The Hyperliquid Policy Center will be “dedicated to advancing a clear, regulated path for decentralized finance to thrive in the United States” according to February 18 announcements. BitMine accumulates Ethereum near recent lows The treasury company purchased 45,759 Ethereum (ETH) for approximately $91 million near $2,000 pricing, roughly 62% below the 2025 peak exceeding $5,000. Total holdings reached 4.37 million Ethereum with 3.04 million staked. UAE government reportedly holds $700M Bitcoin Blockchain analytics firm Arkham Intelligence stated the United Arab Emirates has accumulated approximately $700 million worth of Bitcoin through state-linked mining operations. On-chain research identified wallets controlled by the UAE government holding around 6,300 Bitcoin. Polymarket acquires prediction market infrastructure Polymarket purchased Dome, a Y Combinator-backed startup building unified API solutions for developers to access and build across multiple prediction market platforms. This acquisition provides Polymarket with infrastructure allowing broader developer ecosystem participation and cross-platform integration capabilities. SEC reduces stablecoin capital requirements The Securities and Exchange Commission quietly reduced the capital “haircut” on qualifying payment stablecoins for broker-dealers from 100% to 2%. This regulatory adjustment means $100 of approved stablecoins can now count as $98 toward a firm’s net capital. Tether discontinues offshore yuan stablecoin The company announced it will cease support for CNH₮, its offshore yuan stablecoin, citing low demand and limited community adoption. All new token issuances will end immediately, while redemption support will terminate one year from the announcement date following prior reminder notices.

Former Strategy CEO Michael Saylor has teased yet another Bitcoin purchase on his social media profile. 

The influential executive has announced an "orange century," seemingly expecting complete hyperbitconization to occur within the next several decades. 

In the meantime, Strategy's total Bitcoin holdings are steadily approaching the 750,000 BTC mark, according to the most recent data. 

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Strategy's total Bitcoin holdings currently stand at 717,131, according to the most recent data. 

On Feb. 17, the company announced an additional Bitcoin purchase of roughly $168 million. 

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The company's average purchase price currently stands at $76,000, which is way above the current market price. According to CoinGecko data, BTC is currently changing hands at $67,359, which is way above the current market price.

Undeterred by crypto winter Despite being underwater with steep unrealized losses, Strategy appears to be unfazed, and Saylor is willing to expand the company's Bitcoin coffers. 

As reported by U.Today, the Strategy boss recently stated that Bitcoin is ultimately going to $1 million if it does not go to zero. 

At the same time, Saylor recently admitted that the industry was in the middle of a full-blown crypto winter, with Bitcoin losing nearly half of its price after reaching its record peak of $126,080 in October. 

That said, Saylor expects this crypto winter to be relatively mild and short compared to the previous drawdowns. This bearish cycle is different due to political support as well as the institutional money that is entering crypto. 

TLDR: XRP has dropped 69% from its recent all-time high of $3.66 and is currently trading around $1.39. The $0.66 price level is a critical support threshold — a weekly close below it invalidates the bullish outlook. Santiment data recorded $1.93B in weekly realized losses, the largest spike for XRP since November 2022. Analysts cite upside targets of $2, $3, $5, and $10-plus if XRP holds above its key accumulation zone. XRP is trading around $1.39 after recording a 69% correction from its recent all-time high of $3.66. The asset has posted a -3.76% decline in the last 24 hours and an -8.78% drop over the past seven days.

Trading volume stands at approximately $1.43 billion within the same 24-hour window. The token is currently testing a historically significant demand zone that analysts say previously served as a multi-year accumulation area.

XRP Retests Multi-Year Accumulation Zone After Sharp Decline The current price action places XRP at a technically important level. The token broke below the $2 support zone and is now retesting what analysts describe as a high-timeframe demand area.

This zone previously acted as the upper boundary of a multi-year accumulation range before the 835% rally.

Crypto analyst Crypto Patel noted on social media that the current structure mirrors a classic breakout-retest setup. The price tested this same support region before the prior explosive move. That historical parallel has drawn attention from traders watching the $0.86–$0.66 range closely.

$XRP Crashed 69% And Everyone Is Panicking: Last Time This Happened It Pumped 835%#XRP Is Trading Around $1.39 After Breaking Down From $2 Support Zone. Currently Retesting The HTF Demand Level Which Previously Acted As Multi-Year Accumulation Zone Upper Boundary.

Already… pic.twitter.com/ZVKY1nwLD4

— Crypto Patel (@CryptoPatel) February 22, 2026

According to the analysis, the $0.66 level acts as the key line for bullish continuation. A weekly close below that price would technically invalidate the bullish outlook. For now, XRP remains above that threshold while sentiment stays cautious.

The confluence of the multi-year breakout retest and the accumulation zone creates what analysts see as a strong demand area. Whether price holds or breaks lower from here will likely set the tone for the next major move.

On-Chain Data Shows Largest Realized Loss Spike Since November 2022 On-chain data from Santiment recorded $1.93 billion in weekly realized losses among XRP holders. This marks the largest spike of this kind since November 2022. The data point reflects a notable capitulation event among market participants.

Crypto Patel referenced the Santiment figures in a post on X, pointing out that extreme capitulation events have historically coincided with local price bottoms.

The November 2022 comparison is relevant because that period also preceded a recovery phase for many digital assets.

Realized losses occur when holders sell at prices lower than their cost basis. A spike of this size shows that a large portion of the market exited positions at a loss. Such behavior often marks a shift from weak hands to stronger holders.

Upside targets cited in the analysis range from $2 to $3, extending further to $5 and beyond $10 from the accumulation zone.

These levels represent potential resistance points if buyers step in and the price recovers. The next major confirmation will come from how XRP closes on a weekly basis near current levels.

Journalist

Posted: February 23, 2026

Bitcoin [BTC] and Ethereum [ETH] didn’t have much to brag about this week, with 3.5% and 5% drops. The market mood looks a lot less confident.

But while they were busy stumbling, the rest of the market was doing its usual mix of panicking, surprising, and stealing the spotlight. So, who actually survived the week… and who didn’t?

Grab a coffee and take a seat. Here’s a look at a few select market movers from the week gone by.

Stable [STABLE] pushes up with pace Stable [STABLE] posted a commanding 25% weekly gain, rising from around $0.023 to $0.029 after a breakout mid-week. The rally was supported by rising volume and a change in buyer activity.

Source: TradingView

The RSI showed healthy demand without overbought conditions, while the MACD remained in bullish territory.

Price was consolidating near $0.029 at the time of writing, with immediate support around $0.026 and resistance near the $0.033 level.

Morpho [MORPHO] buyers regain control Morpho [MORPHO] saw a 23% gain over the past week, going from $1.33 to nearly $1.66 before settling near $1.63. After a brief pullback, bulls stepped back in, pushing price toward weekly highs again.

RSI showed strong demand and approached overbought territory. Meanwhile, the CMF was positive at 0.06—capital was flowing into the asset.

Source: X

Beyond price action, Morpho also ranks among the top liquid staking projects by developer activity over the past 30 days. That builder interest may be helping investor confidence.

Decred [DCR] makes a decent rebound Decred [DCR] gained around 10% over the past week, reaching up from $24.7 to $26.9 after recovering from a brief dip near $22.

There was a clear bounce in the second half of the week; this recovery helped DCR reclaim lost ground and return to its recent trading range.

The RSI moved up to around 58, so there may be room for upside if buying continues. Meanwhile, the OBV indicated that buying was getting steady after a time of decline.

If demand holds, Decred could attempt to stabilize above $26.

Other notable winners Lesser-cap tokens like Injective [INJ] and Trump-backed World Liberty Financial [WLFI] both posted solid 10% gains. Meanwhile, Memecore [M] climbed 4%, extending its trend.

Weekly losers Dogecoin [DOGE] slips as engine fails

20h05 ▪ 4 min read ▪ by Ifeoluwa O.

Summarize this article with:

Uniswap Labs has unveiled seven open-source artificial intelligence modules designed to enable AI-driven agents to handle key decentralized exchange operations on its platform. The update aims to simplify how automated agents interact with the protocol while enhancing execution standards. By reducing coding hurdles, limiting failed trades, and offering tighter control over slippage, the framework makes AI-powered trading more reliable and efficient.

In Brief Uniswap Labs introduces seven open-source AI modules that streamline protocol interactions and enhance trade execution. Automated agents can now manage token swaps, liquidity positions, and create new pools with structured workflows. Developers can easily access the full framework through a simple GitHub installation, encouraging wider adoption. Streamlining Uniswap Protocol Actions with AI The Uniswap team shared details of the rollout on X, explaining that the newly launched AI “Skills” provide organized pathways to essential protocol actions. These modules allow automated systems to carry out token swaps, oversee liquidity positions, and establish new pools using a defined structure.

The AI modules offer a consistent way for agents to connect with the exchange infrastructure, reducing fragmented development and enabling more scalable integrations. Beyond easing interactions, they pave the way for wider AI participation in decentralized finance, improving both reliability and operational efficiency.

Breakdown of the Seven AI Modules Each module targets a specific operational need within the Uniswap ecosystem:

The v4-security-foundations module enhances the safety of developing hooks in the latest protocol version, while Configurator assists in creating pools and adjusting key parameters, helping the protocol operate reliably. The deployer manages the deployment of smart contracts and new liquidity pools, providing a dependable framework for essential exchange components. Viem integration ensures seamless connectivity with Ethereum Virtual Machine environments, and Swap integration supports smooth token exchange processes. The liquidity planner oversees how funds are allocated in pools, while the swap planner improves trade strategies, including time-weighted average pricing and splitting larger orders for better outcomes. Together, these tools enhance technical precision and execution efficiency for automated systems on the exchange, with the full toolkit available to developers via a simple command-line installation from the project’s GitHub repository.

The rollout has drawn strong community endorsement, with one user noting that the system helps agents plan, test, and coordinate transactions, viewing it as a meaningful step forward for automated trading.

This reception aligns with broader insights that structured AI toolkits can reduce trade errors and better manage price slippage in algorithmic trading. Unlike previous AI-DeFi integration attempts, which often struggled with inefficient routing and mistimed executions, Uniswap Labs has implemented defined connection protocols to stabilize automated activity and improve execution consistency across the platform.

Since its launch in 2018, Uniswap Labs has processed over $1 trillion in cumulative decentralized exchange volume, establishing itself as a leading platform in DeFi. Its native token, UNI, has risen around 2% in the past 24 hours, reflecting sustained market engagement.

With these new AI modules, Uniswap Labs reinforces its position at the intersection of decentralized trading and AI-driven execution, aiming to raise performance standards as automation becomes central to DeFi markets.

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Ifeoluwa O.

Ifeoluwa specializes in Web3 writing and marketing, with over 5 years of experience creating insightful and strategic content. Beyond this, he trades crypto and is skilled at conducting technical, fundamental, and on-chain analyses.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Combining real estate with Bitcoin could redefine investment strategies and boost cash flow.

Key Takeaways Combining real estate with Bitcoin creates a distinct financial asset that competitors struggle to replicate. Grant Cardone plans to sell his Bitcoin holdings if it reaches a million dollars. The number of units in real estate is crucial for determining business success. Rent increases significantly impact revenue, especially with a large number of units. Cardone integrates Bitcoin into real estate investments by allocating funds based on real estate costs. He views market downturns as opportunities to acquire more Bitcoin. Combining real estate with Bitcoin can enhance cash flow and asset value. Most new investors in Cardone’s ventures are more interested in real estate than Bitcoin. Bitcoin’s utility gives it an edge over treasury companies. Scaling in the crypto space is more challenging than many investors anticipate. Real estate offers a stable investment alternative to Bitcoin’s volatility. Current US laws are unfair to non-accredited investors, limiting their access to better opportunities. Tracking transactions for tax purposes in decentralized markets is complex. Government restrictions on investments should be reduced to allow more personal financial freedom. Raising funds from non-accredited investors is more challenging than from accredited ones. Guest intro Grant Cardone is CEO of Cardone Capital, a private equity real estate firm managing a multifamily portfolio worth over 5 billion dollars, and founder of Cardone Training Technologies, which has trained over 850,000 individuals and businesses globally. He has raised over 1.88 billion dollars in equity through social media crowdfunding and is a New York Times bestselling author whose 10X Rule established the 10X Global Movement. With a net worth estimated at 600 million dollars built through real estate investing, sales training, and entrepreneurship, Cardone brings deep experience in converting real estate assets into alternative investments.

The unique financial vehicle of real estate and Bitcoin “The combination of real estate and Bitcoin creates a unique financial vehicle that competitors cannot replicate.” – Grant Cardone Cardone’s strategy involves using Bitcoin as a differentiator in the real estate market. “The real estate and the bitcoin combined is gonna become a bit of a biological transformation financial vehicle esto esto dude.” – Grant Cardone This approach positions Cardone’s investments as innovative and competitive. Real estate and Bitcoin together offer a new asset class that traditional investors can’t easily mimic. Cardone’s hybrid model leverages the strengths of both real estate and Bitcoin. The integration of Bitcoin into real estate investments provides a hedge against market volatility. Cardone’s approach is designed to capture value from both real estate stability and Bitcoin’s growth potential. The importance of unit count in real estate “The most important number in business is the number of units in real estate.” – Grant Cardone Unit count directly correlates with potential income in real estate investments. Increasing rent by even a small amount can lead to significant revenue gains. “Every time rent goes up $25 I make $80,000,000 for sure if it goes up $250 I make 800,000,000.” – Grant Cardone This principle underscores the scalability of real estate investments. Cardone emphasizes the importance of maximizing unit count for revenue growth. The strategy focuses on acquiring properties that can accommodate rent increases. Real estate investors should prioritize unit expansion to enhance cash flow. Integrating Bitcoin into real estate investments Cardone explains his formula for integrating Bitcoin into real estate investments. “My formula is whatever the real estate cost to bill less what I paid is my bitcoin allocation.” – Grant Cardone This strategy allows for strategic allocation of Bitcoin based on real estate costs. Cardone views market downturns as opportunities to acquire more Bitcoin. “I want more… the number never feels good but I love it.” – Grant Cardone His approach reflects a contrarian investment strategy, viewing dips as buying opportunities. This integration offers a diversified investment portfolio, balancing risk and reward. Cardone’s strategy is designed to capitalize on both real estate stability and Bitcoin’s growth. Enhancing value and cash flow with Bitcoin Combining real estate investments with Bitcoin can enhance value and cash flow. “I’m trying to combine the thievery… converting the discount to bitcoin I end up with something that could actually go you know parabolic.” – Grant Cardone This strategy leverages Bitcoin’s potential for exponential growth. Most new investors are real estate-focused, not Bitcoin enthusiasts. “None of them are at this conference… they’re real estate investors that want cash flow and are willing to take a hope note.” – Grant Cardone The approach appeals to traditional investors seeking stable returns with potential upside. Cardone’s strategy positions real estate as a stable foundation with Bitcoin as a growth catalyst. This model offers a unique investment opportunity that combines stability and potential high returns. Bitcoin’s competitive edge over treasury companies Bitcoin cannot be beaten by treasury companies that lack utility. “You can’t beat bitcoin with bitcoin… there needs to be you can’t take bitcoin where where you’re you have a challenge utility already the world already challenges the utility of it.” – Grant Cardone Cardone emphasizes the importance of utility in maintaining Bitcoin’s competitive edge. Investors often underestimate the difficulty of scaling in the crypto space. “I think people just got… underestimated how difficult it really is to scale and they underestimate you know the noise on the way down.” – Grant Cardone This insight highlights the challenges of growth in the crypto industry. Real estate provides a more stable investment compared to Bitcoin’s volatility. “You don’t have a 40% gain in real estate ever… very gradual over long periods of time very boring.” – Grant Cardone The evolving perception of treasury companies The term ‘treasury company’ will become negatively connotated in the future. “I said no I do not wanna be called a treasury company… I know there will be a day when the word treasury company will be it’s like a four letter word yeah like you know like an std.” – Grant Cardone Cardone predicts a shift in perception, viewing treasury companies as risky. Real estate asset value is determined by rental income and location. “The value of that asset is the people that are paying me rent right and the location of that asset in the surrounding neighborhood.” – Grant Cardone This insight emphasizes the importance of cash flow and location in real estate valuation. Cardone’s perspective challenges traditional views on asset valuation. The focus is on sustainable income rather than speculative gains. The impact of US investment laws on non-accredited investors Current US laws are unfair to non-accredited investors who need access to better investment opportunities. “I can just tell you that the laws in this country are terrible for the nonaccredited investor… 98% of America is not accredited which who needs the best the better investments.” – Grant Cardone This insight highlights issues of accessibility and equity in the financial system. Tracking transactions for tax purposes in a decentralized market is a major challenge. “You’re gonna have one token let’s say if if we got down to $1 tokens could be traded five times in one day how how can I possibly keep up with that.” – Grant Cardone The complexity of compliance in a rapidly changing market is a significant concern. These challenges underscore the need for regulatory clarity and innovation. Cardone advocates for more inclusive investment opportunities for all investors. Advocating for personal financial freedom The government should allow individuals to invest their money freely without restrictions. “I just wish they would get out of the way… let me invest if I wanna invest my last thousand dollars with you I should be able to do it.” – Grant Cardone Cardone expresses a desire for reduced government intervention in personal investments. The biggest problem in the country is that people do not work hard enough to earn money. “The biggest problem in this country is people rip themselves off because they don’t work hard enough to earn enough money to have anything to get ripped off for.” – Grant Cardone This viewpoint emphasizes individual responsibility over systemic issues. Raising money from non-accredited investors is significantly more challenging. “The fastest way to raise money is from accredited for people with big checks… the nonaccredited money just doesn’t come in.” – Grant Cardone The future of real estate and Bitcoin as a financial asset The combination of real estate and Bitcoin will create a new financial asset over time. “The real play for me with the real estate bitcoin hybrid is I’m gonna create… a new financial asset over time… the real estate and the bitcoin combined is gonna become a bit of a biological kinda transformation financial vehicle.” – Grant Cardone This insight presents a vision for the future of financial assets by merging two markets. Large real estate investment trusts (REITs) cannot replicate this hybrid model. “The reits that I compete with can never do this… this is my perfect moat they can never do this.” – Grant Cardone Cardone identifies a strategic advantage in his approach, creating a competitive moat. The recent decline in Bitcoin offers a window to build the hybrid model without competition. “I think I’m gonna have at least two or three years to build this out… they were like I’m gonna go let let’s go play on the cardone the the hybrid bitcoin real estate thing… and then they saw this thing fall apart.” – Grant Cardone Predictions for Bitcoin’s price trajectory Bitcoin could reach $10,000 in two to three years. “I think I can do that in two or three years 10,000 bitcoin two years that in two or two or three years.” – Grant Cardone This prediction is based on Cardone’s analysis of market trends. Real estate syndicators typically do not make as much money as it appears on paper. “Real estate syndicators really don’t make that much money and I know it looks good on paper.” – Grant Cardone This statement challenges common perceptions of profitability in real estate syndication. Selling Bitcoin at a high price allows for significant profit without starting over in real estate. “If that bitcoin 2,000 bitcoin goes to a million dollars tomorrow guarantee you I’m gonna sell that bitcoin.” – Grant Cardone

XRP on-chain pain has drawn fresh attention this week. Realized losses surged to nearly $2 billion over a one-week span. That kind of move grabs traders’ eyes because it often marks a clearing out of weaker holders.

Santiment Shows Heavy Realized Losses According to Santiment, the spike is the biggest since 2022. Realized losses happen when people sell for less than what they paid. It is a measure of capitulation. In past cycles, similar spikes happened near major lows and were followed by strong rallies.

📉 BREAKING: XRP has seen its largest on-chain realized loss spike since 2022. When the previous weekly milestone of -1.93B in realized losses occurred 39 months ago, $XRP proceeded to jump +114% over the next 8 months.

💸 Significant realized losses happen when a large number… pic.twitter.com/gPUU8fYfiY

— Santiment (@santimentfeed) February 21, 2026

One historical episode that traders point to saw a big loss week before a 114% climb over roughly eight months. Still, that outcome came from a specific set of market conditions that are not guaranteed to reappear.

When Many Small Holders Leave The recent spike in realized losses has drawn attention from market participants. When investors sell at a loss, the metric rises, reflecting the scale of coins changing hands below their purchase price. Analysts often monitor this data to assess shifts in supply and demand.

XRPUSD currently trading at $1.39. Chart: TradingView Realized profit and loss figures are commonly used to track market behavior during periods of sharp price movement. While the data highlights the level of losses being locked in, price direction typically depends on broader trading activity, liquidity conditions, and overall market trends.

Price Moves And Market Tone XRP traded near $1.45 at the time of these reports, up about 1.50% over 24 hours but down roughly 24% for the month. The token moved mostly in step with Bitcoin during a broader market bounce.

Short-term strength like that can be a start. It can also be a brief reprieve inside a longer correction. Traders watching the charts want to see more volume and clear levels taken before calling a trend change.

My #XRP price targets for the next three months:

March $13
April $27
May $70

— CryptoBull (@CryptoBull2020) February 21, 2026

Why Some Forecasts Stretch Reality Analyst targets running into double and triple digits have circulated online. CryptoBull’s calls for $13, $27, and $70 in a matter of months are extreme and would require dramatic new capital flows.

Market cap math shows those moves need far larger demand than casual optimism provides. Other analysts used prior cycle lows to estimate a possible macro floor between $0.75 and $0.85 by applying a roughly 2.8x multiple.

A Good Signal Taken together, the data has revived discussion around a rare on-chain signal that in the past came before a 114% advance.

Santiment’s latest figures show realized losses reaching levels not seen since 2022, placing the metric back in focus for traders tracking cycle behavior.

Whether history repeats will depend on incoming demand, broader crypto sentiment, and sustained buying pressure in the weeks ahead. For now, the signal has flashed again, and the market is watching to see what follows.

Featured image from Pexels, chart from TradingView

NEW YORK, Feb. 22, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Ultragenyx securities between August 3, 2023 and December 26, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/RARE.

Ultragenyx Case Details

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:
      (1)   defendants created the false impression that they possessed reliable information pertaining to the effects of setrusumab on patients with variable types of Osteogenesis Imperfecta (“OI”), while also minimizing risk that patients in Ultragenyx’ Phase III Orbit study would fail to achieve a statistically significant reduction in annualized fracture rate (“AFR”), such that the second interim analysis could be performed and presented to the investing public; and
      (2)   in truth, Ultragenyx’ optimism in the Phase III Orbit study’s results and interim analysis benchmark were misplaced because Ultragenyx failed to convey the risk associated with basing such threshold figures on Phase II results that had no placebo control group for appropriate comparison and thus had not ruled out that the reduction in AFR from that study could merely be triggered by an increased standard of care and the placebo effect of being provided a novel treatment.

What's Next for Ultragenyx Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/RARE. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Ultragenyx you have until April 6, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Ultragenyx Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Ultragenyx Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

The Direxion Daily Financial Bear 3X Shares is still useful for some traders, but don't expect it to act like 2008 is back.

Lost in the commotion of the Global Financial Crisis was the fact that, back then, exchange-traded funds (ETFs) were young. They still are in financial market terms, but in 2008, the State Street SPDR® S&P 500 ETF Trust, which was the first ETF to trade in U.S., was just 15 years old.

Yet even with that relative youth, one of the "stars" of the crisis was an ETF: The Direxion Daily Financial Bear 3X Shares (FAZ 1.76%). That fund and its bullish counterpart, the Direxion Daily Financial Bull 3X Shares (FAS +1.80%), rose to prominence during the crisis, to the point that they were bandied about in mainstream financial media by their tickers alone.

This famous ETF is a contrarian bet against the financial services sector. Image source: Getty Images.

That stardom happened even though those leveraged ETFs debuted in November 2008, at the tail end of the worst crisis-induced market conditions. Indeed, the Direxion inverse ETF was a shooting star, more than doubling in value in the first three weeks on the market.

With FAZ, history matters "Shooting star" is an appropriate way to describe this ETF because, as we learned in middle school science class, shooting stars ultimately burn out. The bearish financial services ETF did so too, closing 2008 with a 50% loss.

That's why I'm dredging up ancient history here. It's a reminder that geared ETFs do what they're supposed to do over the course of a day or a few days, but holding these products for weeks or months on end is highly risky and potentially ruinous.

As for what this Direxion ETF is supposed to do, it aims to deliver 300% of the daily inverse performance of the S&P Financial Select Sector index, a basket of financial services companies in the S&P 500. One way of looking at this inverse ETF is that it's an interesting idea for traders who don't want to short individual stocks directly and for those with bearish views on financial services, while avoiding the homework of finding the best short candidates.

NYSEMKT: FAZDirexion Shares ETF Trust - Direxion Daily Financial Bear 3x Shares

Today's Change

(

-1.76

%) $

-0.78

Current Price

$

43.61

That's fine, as long as end users remember that leveraged ETFs are trades, not long-term instruments. The reason for this is that issuers of these products, including Direxion, rebalance these ETFs daily using swaps to accomplish that objective. Due to daily resets, a product like this bearish Direxion fund is likely to behave as expected over a day or a few days.

Still, when holding periods extend to weeks or months, the results can deviate wildly from the underlying index. Traders who don't acknowledge the daily resets can turn into bag holders, and that's never fun.

For traders, this ETF has value The Direxion Daily Financial Bear 3X Shares is obviously a contrarian bet against financial stocks. For that wager to pay off, bank and insurance stocks must decline. The trick is figuring out when that's going to happen. That leads into how to use an ETF like this one. One use case is for ultra-temporary protection of long positions in financial stocks.

Additionally, the inverse fund could be profitable during bank earnings season, provided the updates are disappointing, or if the Federal Reserve does something unexpected, in a bad way, with interest rates. Bottom line: This Direxion ETF is fine for nimble traders, but if that's not you, leave it alone.

Tom Yeung here with your Sunday Digest. 

Last week, I warned that insiders in two key industries were selling unusual amounts of their company’s stock. 

Data centers. The phenomenal growth story is now facing margin compression as cloud customers begin to cut back. Insiders at Oracle Corp. (ORCL) and CoreWeave Inc. (CRWV) sold an unusual number of shares, and we learned this week that Berkshire Hathaway Inc. (BRK) dumped 75% of its Amazon.com Inc. (AMZN) holdings last quarter.  Airlines. American consumers might finally be pulling back. Several executives at Delta Air Lines Inc. (DAL) sold large chunks of stock in early February, a historically bearish signal. After all, airline tickets are often bought well in advance.  Shares of the three firms have since fallen 4% on average, compared to a slight gain in the S&P 500 index. 

Insider sales have continued this week. Market fears are spreading to other industries, and many “smart money” investors are getting out while they still can. Rolling 90-day buy-sell ratios among insiders have further declined to 0.30, down from 0.32 last week. (That means for every seller, there are now only 0.3 buyers.)

That’s why I’d like to remind you that Wall Street legend Marc Chaikin is presenting a free live broadcast where he outlines his predictions going into a volatile March-April period. 

He believes markets are ready to rupture, and that only a tiny portion of companies will be spared from a deep selloff.  

Some of these fears are already proving true. On Wednesday, shares of the Magnificent 7 stocks briefly dipped below their 200-day moving average, a psychological level that traders increasingly care about. Then on Thursday, Walmart Inc. (WMT) cut its guidance for 2026, citing an uneven K-shaped recovery among customers. Delta Airlines nosedived 5% in response, validating the insider sales reported here last week. 

To get the details, you’ll have to tune into Marc’s presentation, which will be available until Monday, February 23. 

In the meantime, I’d like to highlight another eight companies where insiders are selling. 

And show why today’s market might not be as robust as some believe… 

Another Canary in the Consumer-Demand Coalmine  Much like airlines, cruise operators can “see” future demand with unusual clarity. Most cruise companies aim to sell tickets 6 to 18 months in advance, so future customer demand shows up long before hard numbers are officially reported to investors. 

Besides, high-priced vacation spending is entirely discretionary. If a family is short on cash, then their $5,000 Bahamas cruise might be the first thing to get axed. 

That’s why recent insider sales at Royal Caribbean Cruises Ltd. (RCL) are so worrying. Over the past two weeks, we’ve seen: 

CEO: Sold 7,854 shares  2 Directors: Sold 281,385 shares  Chief Accounting Officer: Sold 4,442 shares  Chief Financial Officer: Sold 51,131 shares  2 other executives: 54 shares  Each share of Royal Caribbean is worth over $300, meaning that these sales amounted to an astounding $166 million. The sums getting liquidated are enormous. 

Now, some of the selling could be motivated by price. My own calculations show that RCL is roughly 30% overvalued after its 150% surge over the past two years. Some might even point out that cheaper rivals Carnival Corp. (CCL) and Norwegian Cruise Line Holdings Ltd. (NCLH) have seen no recent insider selling. 

But these explanations are not particularly satisfying. Royal Caribbean insiders didn’t sell when valuations were even higher last summer. Something is different this time around. And as for Carnival and Norwegian… both are in pre-earnings “quiet periods” that prohibit insiders from getting out.  

In addition, a recent Bank of America study found that middle-income families are now falling down the bottom leg of America’s “K-shaped” recovery. While upper-income household spending rose 2.5% in January, spending increases among middle-income and lower-income families rose just 1% and 0.3%, respectively.  

That’s bad news for companies that serve America’s middle class. Tightening wallets not only means less demand… but also more competition from rivals dropping prices. And if insider sales at Delta Air Lines and Royal Caribbean are any guide, investors should tread carefully as more American households join the bottom leg of the K-shaped recovery. 

Trucking: Coming to a Rolling Stop  Shares of trucking companies have been on a tear in recent months. Truck maker PACCAR Inc. (PCAR) is up 26% since October, while trucking firm Ryder System Inc. (R) is up 30%. 

There are two reasons for the jump: 

1. Emissions Standards. Last week, the Trump administration rescinded a key policy that previously allowed the U.S. Environmental Protection Agency (EPA) to regulate motor vehicle greenhouse gas emission standards under the Clean Air Act. As the EPA stated in its official press release: 

As a result of these changes, engine and vehicle manufacturers no longer have any future obligations for the measurement, control, and reporting of GHG emissions for any highway engine and vehicle, including model years manufactured prior to this final rule. 

This removes the federal EV mandate for Class 8 trucks, meaning that diesel equipment can remain in place. (A separate 2027 NOx emission standard will remain in effect.) 

2. Improving Trucking Demand. The industry is now digging out of a terrible 2025, where sales of Class 8 trucks plummeted 13.4% as buyers waited to see the effects of tariffs and the upcoming 2027 NOx emissions rules. The industry should see a return to 5% growth this year thanks to catch-up demand. 

However, insiders seem to believe that the good news is now baked into prices. Over the past two weeks, insider sales at Ryder have included: 

Director: Sold 32,230 shares  Chief Marketing Officer: Sold 6,000 shares  EVP: Sold 871 shares  Three other insiders sold their stock options immediately after they vested.  

Meanwhile, PACCAR insiders sold a combined 166,000 shares across 10 separate transactions by cashing out of vesting stock units. This includes sales by the CFO, several presidents, and a director. 

I see this as a strong sign to get out. By my calculations, shares of Ryder now sell 30% above their justified long-term value, while PACCAR trades 50% higher. Trucking is a highly cyclical market, and both firms have historically underperformed after reaching new peaks. (By their very nature, cyclical stocks that go up must eventually come back down.)  

And so, trucking executives are cashing in their chips despite Wall Street bullishness. You should consider it, too. 

Artificial Intelligence: Separating Winners from Losers  Three weeks ago, I recommended investors buy shares of two beaten-down software companies: 

Thomson Reuters Corp. (TRI)  ServiceNow Inc. (NOW)  Both firms were pummeled by “SaaSpocalyspe” fears that AI would destroy their businesses… and I believed the selloff had finally gone too far. ServiceNow has seen early signs of a stock recovery, while Reuters has stopped falling. 

However, not every software company is safe from AI – a point InvestorPlace tech stock analyst Luke Lango highlighted in a recent Hypergrowth Investing article: 

For 15 years, the Software-as-a-Service business model was like the ultimate profit hack. Build an attractive dashboard, connect it to a database, and charge companies $30 to $100 per month, per human, to use it.  

The more workers those client companies hired, the more money SaaS providers made. 

But now, the market has realized that AI is beginning to erode the human input in that cash equation – and it’s happening faster than most investors expected. 

He identifies several “Red Zone” companies at particular risk. These include firms that either compete directly with AI agents or have business models that are sensitive to AI competition.  

For instance, project management software firm Monday.com Ltd. (MNDY) is already seeing do-it-yourself customers move to chatbot alternatives. In fact, CNBC reporters managed to build a working Monday.com clone in under an hour using Anthropic’s Claude Code AI tool earlier this month. 

It should therefore come as no surprise that insiders at several of these “Red Zone” firms have been liquidating shares. Some sales in the past two months include: 

Salesforce Inc. (CRM) Director: Sold 3,893 shares  Unity Software Inc. (U) Director: Sold roughly 174,000 shares  Pegasystems Inc. (PEGA) Chief Product Officer: Sold 7,000 shares  GitLab Inc. (GTLB) Director: Sold 334,827 shares  Teradata Corp. (TDC) 10% Owner: Sold 61,990 shares  That’s particularly concerning because insiders are selling on the way down instead of buying the dip as they previously did. That’s a very negative sign that suggests margins still have a long way to fall. The 20%-plus return on equity (ROEs) percentages commonly seen in the SaaS business might soon become a thing of the past. 

And so, I highly recommend you examine your software holdings to see which ones are seeing insider sales… and which are getting bought up by “smart money” investors. 

The Illusion of an Unbreakable Business  The divergence between “Green Zone” and “Red Zone” software stocks can be illustrated by a story that Marc Chaikin wrote last year. 

In that piece, he noted how Barneys New York was once seen as an unbreakable business. The store often featured in the hit HBO series Sex and the City, whose lead character, Carrie Bradshaw (played by Sarah Jessica Parker), considered Barneys one of her favorite places to shop. 

But on February 23, 2020, Barneys New York closed… 

And so did the company’s other stores in New York, along with those in San Francisco and Beverly Hills. All its branches closed, all on the same day. 

The reason was simple:  

The internet came along, and “direct to consumer” shopping took off.  

Brands could use the internet to sell products directly to their customers, cutting out middlemen like Barneys. The Carrie Bradshaws of today use their phones to buy clothing, order food, and hail an Uber ride somewhere besides an upscale department store. 

Software companies are now facing the same reckoning. 

Formerly “unbreakable” businesses like Salesforce and GitLab are now facing an existential threat from artificial intelligence. Their fat margins are under attack from a product that’s almost free… and insiders are selling even as shares go down.  

Not all of them, but many of these “Red Zone” firms will disappear just like Barneys New York.  

Marc Chaikin calls this a part of a rupture that will shake markets this year. 

However, he believes a select group of companies will survive… and even thrive in this new reality. 

To learn more about these elite companies he’s identified, you can rewatch his free presentation here for a limited time. 

I’ll see you here next week, 

Thomas Yeung, CFA 

Market Analyst, InvestorPlace 

Thomas Yeung is a market analyst and portfolio manager of the Omnia Portfolio, the highest-tier subscription at InvestorPlace. He is the former editor of Tom Yeung’s Profit & Protection, a free e-letter about investing to profit in good times and protecting gains during the bad.

Alphabet (GOOGL +3.95%) (GOOG +3.66%) was slow out of the gate when it comes to artificial intelligence. Over the past year, though, the tech giant has roared back, staking its claim to be a leader in AI development. That has driven the stock to new heights, briefly making the company the second-largest in the world by market capitalization behind only Nvidia (NVDA +1.02%).

Yet as longtime investors know, history is filled with companies that briefly flared to brilliance only to burn up and fall back to Earth. For Alphabet CEO Sundar Pichai to avoid the same fate, he'll have to lead the company forward in directions that will open up even more opportunities for growth. In this third and final article on Alphabet for the Voyager Portfolio, you'll see more about Pichai's plans for AI dominance and whether the tech giant can get the job done.

Image source: Getty Images.

Alphabet's top priorities right now Alphabet's February conference call provided an excellent summary of where Pichai is taking the company. From a big-picture standpoint, Alphabet's various businesses are looking strong. Core search revenue was up 17% year over year, and YouTube saw revenue for the year climb above the $60 billion mark, combining both ad sales and subscription revenue. Between YouTube Premium, Google One, and other consumer services, Alphabet boasted over 325 million paid subscriptions, which contribute valuable recurring revenue for the company.

As you'd expect, Pichai played up all of Alphabet's AI accomplishments. Over 750 million monthly active users are taking advantage of its Gemini app. Alphabet has sold more than 8 million paid seats for the enterprise version of Gemini, despite its having been available for just four months. And with the December launch of Gemini 3, user engagement metrics have been climbing rapidly.

A three-part strategy for AI maximization In particular, Pichai sees three key aspects of making the most of AI. First, the company has worked hard to bolster its AI infrastructure, which includes not only GPUs from Nvidia but also its own proprietary tensor processing units that are designed to optimize performance for AI-specific workloads. Alphabet is taking pride from not only boosting capacity but also becoming more efficient, lower serving-unit costs for Gemini by more than three-quarters during 2025 alone.

Second, research into AI models and tooling has taken off. Gemini 3 Pro is the most visible manifestation of Alphabet's work, with triple the token use from its previous Gemini 2.5 Pro offering. More than 1.5 million weekly active users are on the Antigravity development platform after just two months. Alphabet boasts leadership in areas from text, vision, and image-to-video processing.

Lastly, Alphabet knows that AI tools aren't useful if they aren't accessible. The company has therefore launched AI-powered capabilities across its extensive product spectrum, from AI Mode search capability to AI-enhanced Gmail and Chrome functionality. A new open standard for agentic AI commerce could revolutionize shopping in time, and incorporating AI into its Android and Pixel devices has been a top priority that is close to fruition. YouTube creation is benefiting from AI tools, and advances in technology are supporting the Waymo self-driving vehicle business as well.

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Can Alphabet keep growing? The next question Alphabet will have to answer is whether AI strength will bring more growth to its broader cloud computing services segment. Pichai said that new customers are coming in faster. Cloud infrastructure can involve high switching costs that will make it hard for Alphabet to woo customers using rival services, but if it can do so, those costs will make it likelier for new clients to stick around.

With a high allocation within major index ETFs and separate positions elsewhere among my holdings, Alphabet doesn't warrant a place in the Voyager Portfolio. However, the company has done a great job of proving naysayers wrong in past years. If interest in AI keeps accelerating, Alphabet is likely to be one of the biggest winners from the ongoing trend.

This latest purchase offers Druckenmiller another AI winner.

Stanley Druckenmiller, who oversees $4.4 billion at the Duquesne Family Office, owned Nvidia (NVDA +1.02%) stock, but sold all of his shares in 2024. At the time, he considered the AI giant richly valued, though he did express some regret about his move -- and said he would consider buying the stock again at a lower valuation.

Since that time, Nvidia's valuation has dropped considerably. It now trades for about 24x forward earnings estimates -- back in 2024, it traded for more than 48x estimates.

Still, Druckenmiller hasn't returned to Nvidia stock yet. Instead, showing a focus on value, the billionaire recently bought shares of the following player, one that's been among the cheapest of the Magnificent Seven tech stocks.

Image source: Getty Images.

Proven expertise Investors keep a close eye on Druckenmiller's moves because he's proven his expertise over the long term. This top investor ran Duquesne Capital Management for three decades and delivered an average annual return of 30% without any years of losing money. After retiring, he went on to run the Duquesne Family Office -- as he files quarterly 13F filings with regulators, a requirement for all managers of more than $100 million, we continue to get frequent glimpses into this investing expert's strategy.

As mentioned, Druckenmiller benefited from part of Nvidia's growth story but sold the shares as they gained in valuation. Nvidia has been one of the most prominent AI companies since it's the designer of the world's most popular AI chips. Customers flock to them for their speed and efficiency, and that's resulted in explosive earnings growth for the AI giant. Nvidia's earnings reports show us that this demand and growth continue, and general forecasts for an AI market on track to reach into the trillions of dollars in a few years suggest Nvidia's strength may be long-lasting.

Still, Druckenmiller didn't purchase Nvidia stock in the fourth quarter of last year. It's important to remember that Nvidia shares weren't as cheap then as they are today. At that time, they traded for about 39x forward earnings estimates. Instead, he bought shares of Alphabet (GOOGL +3.95%) (GOOG +3.66%), which at the time was the second-cheapest of the Magnificent Seven stocks.

NVDA PE Ratio (Forward) data by YCharts

Druckenmiller increases his holding Druckenmiller already held Alphabet shares but increased his position by 276% and now owns 385,000 shares. This represents more than 2.6% of his portfolio.

Alphabet is also a key player in the AI revolution, and like Nvidia, already is generating revenue growth. The company offers AI products -- such as AI chips -- and services to customers through its Google Cloud business, and in the recent quarter, this unit saw revenue jump 48% to more than $17 billion. Google Cloud has been delivering solid growth quarter after quarter, driven by demand for AI infrastructure and solutions. And this is likely to continue as the AI boom unfolds.

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We don't know the exact reason behind Druckenmiller's purchase of Alphabet, but it's fair to say that the move offered him a strong AI player at a bargain price.

So, should you follow this famous investor and get in on Alphabet shares right now? The stock is about the same valuation levels today, but other Magnificent Seven stocks have become considerably cheaper. Today, for example, Nvidia is less expensive than Alphabet.

NVDA PE Ratio (Forward) data by YCharts

Your decision about which AI stocks to buy may depend on your risk tolerance. If you're a cautious investor, you might prefer buying shares of Alphabet or Amazon, for example, as they're less dependent on AI than a company like Nvidia. AI does come with some risk because, though it seems promising, we still don't know for sure to what extent it will be used several years down the road -- and which companies will benefit the most.

But, if you don't mind a bit of risk today, you might pick up a few shares of Nvidia at this dirt cheap price -- and keep an eye on Stanley Druckenmiller's moves in the coming quarters to see if he does the same.

The company's years of beating the market aren't over yet.

Intuitive Surgical (ISRG +0.86%) has faced challenges over the past year. President Donald Trump's aggressive tariffs are impacting its financial results, and it's now facing more competition than it has arguably ever had in the market for robotic surgery, among other issues.

Despite all that, Intuitive Surgical's long-term outlook remains bright. Here's why the stock could deliver superior returns over the next decade.

Image source: Getty Images.

Moats matter There is one key reason Intuitive Surgical can overcome the obstacles -- the company benefits from a wide moat, based on multiple factors.

One is that its famous, market-leading da Vinci system is expensive, requires a steep learning curve, and has been incorporated in many programs to train surgical residents and fellows. The da Vinci system is deeply entrenched in many medical facilities, making it hard for them to switch to a competing device without losing the heavy up-front investment they made to acquire it or the countless hours medical staff invested in training on it. That's one significant advantage.

Another is that the da Vinci system has been on the market for over two decades, and there is a wealth of data demonstrating its efficacy and improved patient outcomes across a range of indications. Newcomers to the field may have aced clinical trials to earn clearance, but the real-world data isn't easy to replicate, and grants Intuitive Surgical a leg up.

We can also highlight the medical device specialist's innovative capabilities. In 2024, it launched the fifth version of the da Vinci system, with new and improved features.

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The future is bright Intuitive Surgical can leverage these advantages to mitigate the effects of tariffs -- perhaps by raising prices slightly, something it can afford to do without losing many customers, thanks to its market leadership. So its installed base should continue growing.

Meanwhile, the company should also secure new approvals for the da Vinci system. These label expansions will help increase the device's addressable market. With an expanding installed base and more indications under its belt, its procedure volume should also move in the right direction and help boost revenue and profits.

Even with mounting competition, Intuitive Surgical should be fine, especially considering that the market for robotic-assisted surgery is underpenetrated. And over the next decade, we should also see an aging population, which will drive growing demand for many of the procedures handled by the da Vinci system.

All these factors (and more) make Intuitive Surgical's prospects strong. Despite the challenges it's faced, the stock remains an excellent pick to hold for the next 10 years.

Prosper Junior Bakiny has positions in Intuitive Surgical. The Motley Fool has positions in and recommends Intuitive Surgical. The Motley Fool recommends the following options: long January 2028 $520 calls on Intuitive Surgical and short January 2028 $530 calls on Intuitive Surgical. The Motley Fool has a disclosure policy.

President Donald Trump said in a social media post Saturday that Netflix will “pay the consequences” if it doesn’t fire Susan Rice, who has served as the company’s board of directors since 2018.

Trump’s comments came after Rice — a former ambassador to the United Nations who held diplomatic and advisory roles in the Obama and Biden administrations — appeared on the “Stay Tuned with Preet” podcast hosted by Preet Bhara and predicted that corporations that “take a knee” to Trump will be “held accountable” when Democrats return to power.

“If these corporations think that the Democrats, when they come back in power, are going to, you know, play by the old rules, and […] say, ‘Oh, never mind. We’ll forgive you for all the people you fired, all the policies and principles you’ve violated, all, you know, the laws you’ve skirted,’ I think they’ve got another thing coming,” Rice said.

In response, Trump posted on his social network Truth Social, “Netflix should fire racist, Trump Deranged Susan Rice, IMMEDIATELY, or pay the consequences. She’s got no talent or skills – Purely a political hack! HER POWER IS GONE, AND WILL NEVER BE BACK. How much is she being paid, and for what???”

Trump’s post also includes a screenshot of a post from far-right activist Laura Loomer criticizing Rice’s comments and claiming, “The Netflix-Warner Bros. merger would result in a streaming monopoly, which the Obamas will have a significant stake in” due to the deal between Netflix and the Obamas’ production company Higher Ground.

While Trump’s post does not mention specific consequences, Netflix’s massive Warner Bros. acquisition will need to be approved by federal regulators. The streaming company’s co-CEO Ted Sarandos reportedly met with Trump before the deal was announced, with Trump subsequently saying that Netflix is a “great company […] but it’s a lot of market share, so we’ll have to see what happens.”

Last fall, Trump published a similar post demanding that Microsoft fire its president of global affairs Lisa Monaco, who was also the target of Loomer’s criticism. Monaco is still at Microsoft.

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Anthony Ha is TechCrunch’s weekend editor. Previously, he worked as a tech reporter at Adweek, a senior editor at VentureBeat, a local government reporter at the Hollister Free Lance, and vice president of content at a VC firm. He lives in New York City.

You can contact or verify outreach from Anthony by emailing [email protected].

Vertiv is well positioned to benefit from the growing demand for data center infrastructure. The company has seen exceptional growth in its orders, and its backlog has more than doubled over the past year to $15 billion.

This clinical-stage biotech develops targeted cancer therapies, leveraging bispecific antibodies and strategic industry partnerships.

Redmile Group disclosed a significant reduction in its Zymeworks (ZYME 2.57%) position in a February 17, 2026, SEC filing, selling an estimated $70.10 million in shares based on quarterly average pricing.

What happenedAccording to a February 17, 2026, SEC filing, Redmile Group reduced its stake in Zymeworks by 3,214,096 shares, with the estimated transaction value totaling $70.10 million based on the average closing price during the fourth quarter of 2025. The quarter-end value of the position decreased by $50.35 million, a result of both share sales and stock price movements.

What else to knowPost-sale, Zymeworks accounts for 0.95% of Redmile’s reportable 13F AUM.Top holdings after the filing:NASDAQ:SRRK: $229.98 million (16.9% of AUM)NASDAQ:KRYS: $167.08 million (12.3% of AUM)NASDAQ:NRIX: $153.54 million (11.3% of AUM)NASDAQ:STOK: $128.04 million (9.4% of AUM)NASDAQ:IMNM: $122.83 million (9.0% of AUM)As of February 17, 2026, shares of Zymeworks were priced at $23.07, up roughly 60% over the past year and outperforming the S&P 500’s roughly 13% gain in the same period.Company overviewMetricValuePrice (as of market close 2026-02-17)$23.07Market Capitalization$1.74 billionRevenue (TTM)$134.48 millionNet Income (TTM)($63.43 million)Company snapshotZymeworks develops and commercializes biotherapeutics for cancer, with lead candidates including zanidatamab (a bispecific antibody in Phase 1/2 trials) and ZW49 (an antibody-drug conjugate in Phase 1 trials).The firm operates a clinical-stage biopharmaceutical model, generating revenue primarily through licensing agreements, research collaborations, and milestone payments from strategic partners.It targets pharmaceutical companies and healthcare providers focused on oncology, addressing unmet medical needs in cancer treatment.Zymeworks is a clinical-stage biotechnology company specializing in the discovery and development of innovative cancer therapies, leveraging a robust pipeline and strategic partnerships with major pharmaceutical firms. The company’s focus on bispecific antibodies and antibody-drug conjugates positions it at the forefront of targeted oncology therapeutics. Zymeworks’ collaborative business model and proprietary technology platforms provide a competitive edge in advancing next-generation cancer treatments.

What this transaction means for investorsWhen a top biotech holder cuts a position to under 1% of assets after a sharp rally, that shift is worth noting, particularly since Zymeworks entered 2026 with tangible momentum. Positive Phase 3 HERIZON-GEA-01 data for zanidatamab in first-line HER2-positive gastroesophageal cancer showed a statistically significant progression-free survival benefit and a median overall survival exceeding two years in combination therapy. The company is eligible for up to $440 million in regulatory milestone payments tied to approvals in major markets. It also ended 2025 with approximately $270.6 million in cash and marketable securities, and has a $125 million share repurchase authorization in place.

Against that backdrop, trimming into strength looks more like capital recycling than a loss of faith. This fund still runs a concentrated biotech portfolio, with double-digit allocations to other clinical names.

Shares are up roughly 60% over the past year, far outpacing the broader market. Ultimately, however, Zymeworks now sits in a transition phase, balancing royalty aggregation, internal R&D, and capital returns, and position sizing reflects that evolving risk profile.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Krystal Biotech. The Motley Fool has a disclosure policy.

This clinical-stage biotech develops antibody therapies for cancer and infectious diseases, leveraging proprietary discovery platforms.

On February 17, 2026, Redmile Group disclosed a buy of 695,000 shares of Immunome (IMNM 3.16%), an estimated $12.20 million trade based on quarterly average pricing.

What happenedAccording to a February 17, 2026, SEC filing, Redmile Group increased its position in Immunome (IMNM 3.16%) by 695,000 shares during the fourth quarter of 2025. The estimated transaction value, calculated using the quarter’s average closing price, was approximately $12.20 million. The total position value at quarter-end grew by $64.01 million, a figure that includes both the new shares and changes in Immunome’s stock price.

What else to knowThis buy activity lifts the Immunome stake to 9.05% of Redmile Group, LLC’s 13F assets under management as of December 31, 2025.Top five holdings after the filing:NASDAQ:SRRK: $229.98 million (16.9% of AUM)NASDAQ:KRYS: $167.08 million (12.3% of AUM)NASDAQ:NRIX: $153.54 million (11.3% of AUM)NASDAQ:STOK: $128.04 million (9.4% of AUM)NASDAQ:IMNM: $122.83 million (9.0% of AUM)As of February 17, 2026, Immunome shares were priced at $22.69, up a staggering 120% over the past year and well outperforming the S&P 500’s roughly 13% gain in the same period.Company overviewMetricValuePrice (as of market close February 17, 2026)$22.69Market capitalization$2.09 billionRevenue (TTM)$9.68 millionNet income (TTM)($222.74 million)Company snapshotImmunome develops antibody therapeutics targeting oncology and infectious diseases, with lead programs including IMM-ONC-01 for cancer immunotherapy and IMM-BCP-01 for SARS-CoV-2 treatment.The company operates a research-driven biopharmaceutical business model.It focuses on leveraging proprietary discovery platforms to address unmet medical needs in complex disease areas.Immunome is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapies for oncology and infectious diseases. The company’s competitive advantage lies in its differentiated pipeline and expertise in antibody engineering for complex disease targets.

What this transaction means for investorsImmunome is no longer just a clinical-stage story. In December, the company priced a 18.6 million share offering at $21.50, raising roughly $400 million in gross proceeds to fund its oncology pipeline. Around the same time, it reported positive Phase 3 RINGSIDE results for varegacestat in desmoid tumors, cutting the risk of progression or death by 84% versus placebo and posting a 56% response rate. A New Drug Application is planned for the second quarter of 2026.

Against that backdrop, adding shares after a 120% one-year gain signals belief that this is not just a momentum trade but a pipeline platform story. The position now represents more than 9% of assets, alongside other concentrated biotech bets.

Long-term investors should understand what this is. It is a capital-intensive, binary-risk business, but one now backed by fresh cash and late-stage data. If varegacestat moves toward approval, the valuation debate shifts from probability to commercialization. That is a different conversation entirely.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Krystal Biotech. The Motley Fool has a disclosure policy.