Business
Harry’s Coterie owner Mammoth Brands grows amid IPO rumors
Mammoth Brands wants to take on traditional consumer packaged goods companies, armed with a portfolio of disruptors in the personal and baby care categories that have won over consumers and retailers alike.
For the last decade, upstarts like those owned by Mammoth have challenged the relevance and longstanding dominance of legacy giants like Procter & Gamble, Unilever and Kimberly-Clark. The trend has also played out across packaged food and beverage companies, like Poppi and Olipop taking on Coca-Cola and PepsiCo. Consumers’ loyalty no longer draws on just brand recognition. Newcomers can offer shoppers something different: better prices, higher quality or fewer ingredients that scare them.
“A lot of these companies call these smaller brands ‘ankle biters’ — tells you exactly what you need to know about how they view the threat,” said Nik Modi, co-head of global consumer and retailer research for RBC Capital Markets. “But I think that they’re taking it a lot more seriously. I think it’s gotten to a tipping point.”
With brands like Harry’s razors, Lume Deodorant and Coterie diapers, Mammoth is reshaping the consumer goods landscape, and it has ambitious plans.
“We’re trying to build a leading modern [consumer packaged goods] company, like if Procter & Gamble and Unilever were getting built today,” Mammoth co-founder and co-CEO Andy Katz-Mayfield told CNBC.
In 2024, Mammoth saw revenue of $835 million and almost $100 million in adjusted earnings before interest, taxes, depreciation and amortization, according to a statement from the company. While legacy consumer giants still dwarf the company with their tens of billions of dollars in annual revenue, Mammoth said it has seen a greater than 20% revenue compound annual growth rate over the prior five years through 2024.
Soon, a wider swath of investors could bet on the company’s vision. Mammoth is weighing an initial public offering as soon as the second half of this year, according to a Bloomberg report.
“Today, our private company, we make money, which is great, and we have opportunity to continue to invest in the brands in our portfolio,” said Mammoth’s other co-founder and co-CEO Jeff Raider. “We’ll continue to evaluate the right capital structure for the business over time to enable us to achieve that long-term outcome.”
In the meantime, Mammoth seems focused on challenging existing CPG giants.
Harry’s began as a razor brand but has expanded into a skincare and men’s personal care.
Source: Mammoth Brands
From start-up to Mammoth
The early seeds of Mammoth began in 2013, when Katz-Mayfield and Raider founded Harry’s. Katz-Mayfield came up with the idea for the startup based on his frustration with the status quo of buying $20 replacement razor blades.
“I called up Jeff,” Katz-Mayfield said. “We decided to build a men’s grooming brand that was a really high quality product at great value, a better overall experience, online led, and I really do think that’s really at the core of everything that guides Mammoth Brands.”
Katz-Mayfield and Raider had previously worked together at Charlesbank Capital Partners and Bain & Company. Before founding Harry’s, Raider co-founded Warby Parker.
Like the glasses startup, Harry’s began online, becoming another disruptor during the era of direct-to-consumer brands. By 2016, it had gained enough customers to land on Target shelves.
Harry’s DTC origins allowed it to tweak its razors and win over customers who were previously loyal to the traditional grooming giants.
Its DTC operating model also helped underscore who the company views as its core customer: the shopper. But traditional CPG companies typically view retailers as their customer, not the person that eventually buys and uses their products.
That perspective influences those companies’ innovation strategies, according to Katz-Mayfield. For example, a CPG company could make a few small tweaks to create a new SKU, or stock keeping unit, to replace an underperforming product SKU, allowing that brand to hold onto its existing shelf space and placate its retail customer, according to Katz-Mayfield.
“It’s not that some of those brands aren’t great and some of those products aren’t great, but … the innovation was driven by a strategy which is, the only way we can grow is to increase prices, and so on,” Katz-Mayfield said. “The only way we can justify price increases is to add bells and whistles that consumers don’t actually want.”
Harry’s made its way to more retailers after Target. The brand stuck to its DTC roots though, insisting on launching new products online first to get feedback from loyal customers.
In 2018, Harry’s launched Flamingo, a women’s shaving and body care brand with the same ethos.
Then the legacy giants came knocking.
In 2019, Schick owner Edgewell Personal Care announced it was buying Harry’s for $1.37 billion. Three years earlier, Unilever had bought Dollar Shave Club, another razor disruptor, for $1 billion. (In 2023, Unilever sold the razor brand to a private equity firm.)
Edgewell offered Harry’s the chance to use its expertise in the direct-to-consumer business model and apply it to the company’s brands, according to Raider. But the Federal Trade Commission sued to block the deal on antitrust grounds, which led Edgewell to walk away from the acquisition.
Still, Katz-Mayfield and Raider held onto their vision of helping other brands achieve success.
“The barriers to starting a brand are lower than they’ve ever been,” Katz-Mayfield said. “Our perspective is that really scaling and maintaining these brands is still really hard.”
Harry’s created an incubator lab, launching cat care brand Cat Person and haircare brand Headquarters. It has since sold Cat Person to Weruva and wound down Headquarters, teaching the Harry’s team the value of staying more focused on what it considers core personal care categories.
Harry’s Labs also invested in the seed round of Hims, but has since sold its minority stake.
“Investing is not really part of the strategy,” Katz-Mayfield said. “We did that at the time as we were testing and learning how we’re going to build the platform. It was a great outcome for us, because [Hims] had a lot of success and the investment was worth a lot.”
In 2021, the company bought Lume Deodorant, which sells sticks, tubes and spray that can be used all over the body. The brand is widely credited with establishing the whole-body deodorant segment. Within two years of the deal, Lume’s sales had more than doubled, according to Mammoth.
The Lume acquisition helped Mammoth learn more about selling on Amazon, where the brand had more experience than Harry’s and Flamingo did, according to Katz-Mayfield.
Building off of the Lume acquisition, Harry’s launched Mando deodorants in late 2022, marketing the same concept to men.
In April 2025, Harry’s Labs officially rebranded as Mammoth Brands. And its next acquisition further demonstrated its desire to be the next big CPG company.
Coterie’s range of premium diapers
Source: Mammoth Brands
Growing with a baby business
In late 2025, Mammoth bought Coterie, a high-end diaper brand founded in 2019 with celebrity investors like Karlie Kloss and Ashley Graham.
The deal was reportedly valued at over $1 billion and involved a mix of cash and stock. Mammoth said in October that Coterie surpassed $200 million in net revenue over the previous 12 months, a nearly 60% jump from the prior-year period.
Coterie’s premium diapers can cost as much as $1 per unit, a steep price for some parents. But the brand has found many consumers are willing to pay more for the product, which promises high absorbency without added fragrance, latex, rubber, parabens, pesticides or chlorine bleaching. Coterie has been “very profitable” over the last three years, according to the brand’s CEO Jess Jacobs.
“Seventy-four percent of parents are willing to pay more for better-for-you products,” she told CNBC. “Parents are looking for better and deserve better, and they’re questioning the status quo, just like we are as a brand and as a company.”
Forty-three percent of the brand’s new customers come from word of mouth alone, according to Coterie.
Under Mammoth, Coterie now has the advantages of being a part of a bigger company; it can learn from e-commerce strategies for Amazon that currently work for Mammoth’s brands. As Coterie broadens its retail exposure beyond higher-end grocers like Whole Foods and Erewhon, Mammoth can introduce it to more retailers. And diapers are complicated to manufacture, so Mammoth can help support that process as Coterie continues to create innovate on its diapers.
For example, Coterie is currently in talks to add more retail partners. And Mammoth sees bigger potential for the brand, too.
“Coterie is a brand that can really extend across baby care,” Katz-Mayfield said. “It’s not just a diaper brand.”
But Coterie’s success has caught the attention of legacy players, who are eager to adapt some of the upstart’s playbook.
Threat to legacy players
For decades, a handful of companies have dominated the household goods and family and personal care categories. Their portfolios are chock-full of iconic brands used every day by Americans, and their histories often stretch back more than a century.
In 1837, soap maker James Gamble and candlemaker William Procter became business partners, creating the company that still carries their names today.
Originally founded as a paper mill company in 1872, Kimberly-Clark now owns a host of brands like Kleenex, Huggies and Cottonelle. It went public nearly a century ago.
In 1930, a merger between a Dutch margarine producer and a British soap maker gave birth to Unilever.
While those massive companies competed with each other, it was nearly impossible for a newcomer to gain a foothold in their well-established categories. For a nascent company, launching a new product was pricey and difficult, as legacy brands held onto their shelf space with a death grip and retailers were reluctant to take a chance.
But over the last decade, these consumer giants have faced a new threat from upstarts.
“We are really seeing competition in CPG has fundamentally intensified, and it’s coming everywhere,” said Sally Lyons Wyatt, chief advisor for Circana’s consumer goods and foodservice insights division. “Small manufacturers are gaining share. Digital and social platforms are lowering the barrier for entry for a lot of these smaller brands.”
The rise of e-commerce meant launching a new consumer packaged good was not the daunting task it used to be. A successful direct-to-consumer business often leads retailers to come knocking on the newcomers’ doors.
“The big retailers have also made the case that they want these culturally relevant brands in their stores to bring in consumers,” RBC Capital Markets’ Modi said.
And social media has also transformed how consumers think about what products to buy.
“Cultural relevance is now equal to or superseded brand equity,” Modi said. “If you think about it, most of the big brands are not losing share to other big brands. They’re losing share to the smaller disruptive brands.”
Look no further than diapers, a $5.43 billion market in the U.S., according to Euromonitor International data.
In Procter & Gamble’s fiscal second quarter, which ended in December, its U.S. diaper volume shrank 2%. Its Pampers had fallen to second place in U.S. diaper sales, trailing Kimberly-Clark’s Huggies for the first time since 2021, according to Euromonitor data.
“I don’t want to gloss over the fact that we have work to do to recover share,” P&G CFO Andre Schulten told analysts on the company’s earnings conference call in January.
While Coterie is growing fast, it remains a much smaller diaper brand than Huggies and Pampers. Still, it looks like P&G has taken note of its success.
P&G had challenged Coterie’s claim that its diapers were up to four times more absorbent than leading brands. A year ago, the Better Business Bureau’s National Programs’ National Advertising Division recommended that Coterie stop using the claim, which the diaper brand followed.
In March, P&G launched Pampers Amore, a line of premium diapers that it touts as “microbiome compatible” and “hypoallergenic.” Most tellingly, the line’s own packaging directly pits it against Coterie; it claims that its liner keeps babies three times drier than Coterie.
“The reality is, they are chasing something that is already gone,” Coterie’s Jacobs said. “We carved out that premium category, we’ve grown it. It’s growing 20% since 2020 and 10% year over year. And they’re late. So it’s a question of, can they move faster? Can they be more nimble, and can they get ahead? And the reality is, at this point, and certainly in diaper, it does not seem like they can.”
Jacobs estimates that Coterie is roughly 18 months ahead of legacy diaper brands.
But CPG giants still have some advantages, according to Modi. For example, the war with Iran is complicating supply chains for key components like packaging materials. While still a headache for legacy brands, they are able to navigate the challenge more nimbly thanks to their size and bargaining power.
And then there is innovation. Modi said that he thinks that big brands still have better research and development teams, which should help them create the best product possible.
And Kimberly-Clark’s exposure to the very competitive Asian diaper market is fueling its innovation, CEO Michael Hsu said that Barclays Americas Select Conference in May.
“We’re going to go through these trial cycles where people are going to try these new things, and they’re like ‘Yeah, maybe I don’t like this as much,’” Modi said. “And they start switching back to some of the bigger brands where the products actually work.”
Rather than trying to beat them, some legacy players have decided to join the upstarts instead. Procter & Gamble bought Native deodorant for $100 million and turned it into one of the company’s dozens of billion dollar brands, by Modi’s estimate. Unilever has snapped up a number of challenger brands, like Gruns, the DTC supplement gummy brand, and Squatch, which sells personal care products aimed at men.
But those deals aren’t always a success for the buyer — or the seller. Sometimes their corporate cultures don’t mesh, or the new owner does not know how to incubate a smaller brand, according to Modi.
For many legacy players, Modi thinks that the best strategy is to create new brands, rather than trying to bring existing lines up to speed.
“It’s about how quickly they can move and how willing they are to be patient and develop a brand,” Modi said, adding that many companies lack the willingness to wait for a small brand to grow into one worth $1 billion.
Becoming a giant?
For its part, Mammoth is trying to prove itself as the kind of company with the ability to help upstarts become personal care powerhouses.
“We would rather have a small portfolio of large brands than a large portfolio of small brands,” Katz-Mayfield said.
Going forward, he and Raider want to add more brands in what they call the “everyday care and wellness” categories. They are looking to add more products to their portfolio that are in “consumable consumer categories,” barring human food and beverages.
“We’re really dogmatic about some of these things that we would never do M&A just to do M&A and buy scale and growth, because we’re not trying to flip these things. We’re trying to own them forever,” Katz-Mayfield said.
Unlike traditional consumer goods companies, Mammoth is less focused on entering specific categories to complement its overall portfolio and instead more interested in customer retention and its growth prospects across e-commerce and brick-and-mortar retail, according to Katz-Mayfield.
“We have to believe that something is online-led but has big omnichannel potential,” he said. “It can be a big $200, $300 million-plus brand because that’s where we’re going to add the most value, helping those brands scale on that journey.”
Mammoth has a team that tracks new brands, starting when they begin to gain traction on social media or Amazon. But every potential acquisition is likely also getting attention from legacy CPG companies or venture capital and private equity firms.
To founders, Mammoth gives its pitch as an owner that offers independence and autonomy, with the infrastructure and corporate support that can introduce upstarts to big retailers like Target. Mammoth also wants the founders and executive teams to stay on for a while.
“We kind of view ourselves as a little of a Goldilocks,” Katz-Mayfield said.
And a new acquisition is likely coming to Mammoth sooner rather than later. The company is primarily focused on growing its portfolio through dealmaking, according to Katz-Mayfield.
“For us, I think like one or two deals a year is probably the right pace,” he said, adding that he believes that Mammoth will have portfolio of eight to 10 brands within the next three or four years.
For all the focus on M&A, innovation hasn’t stopped at Mammoth’s existing brands. For example, Harry’s has been expanding its range of skincare for men.
“The way we think about it, these brands are still pretty early in their journey,” Katz-Mayfield said. “They all have tremendous potential.”
Mammoth still launches new products online first, demonstrating the company’s continued belief in the DTC business model, despite rumors of its demise. About half of Mammoth’s revenue still comes from online sales, according to the company.
“I think DTC is the single greatest place on the planet to build products and brands,” Raider said.
But the buzziest news for Mammoth will likely be its initial public offering, although the co-CEOs played coy about those potential plans.
“Don’t know where that came from,” Katz-Mayfield said when asked about the Bloomberg report about a potential IPO as soon as this year that identified four banks reportedly working on the deal.
“We’re fortunate that we make money as a company, and we’re able to use some of that cash flow,” he added. “We’ve always been sort of more agnostic to what the structure is, but we certainly want a set up that allows us to have access to capital, whether that’s privately or publicly, at some point in the future to pursue that strategy.”
WASHINGTON — The United States and Iran have reached a landmark agreement to end months of conflict, with President Donald Trump announcing the reopening of the strategically vital Strait of Hormuz and the lifting of the U.S. naval blockade on Iranian ports, offering significant relief to global energy markets and easing fears of prolonged regional instability.
The deal, mediated in part by Pakistan, is set to be formally signed in Switzerland as early as Friday, according to multiple reports. It includes an immediate ceasefire across all fronts, including operations in Lebanon, and paves the way for further negotiations on Iran’s nuclear program and sanctions relief. Oil prices fell sharply following the announcement as traders priced in the prospect of resumed flows through the critical waterway.
Trump confirmed the breakthrough on social media, stating the deal was complete and authorizing the immediate removal of the naval blockade. “Let the oil flow!” he wrote, emphasizing the economic benefits of restored shipping access.
Iranian officials framed the agreement as a victory for Tehran, with state media reporting that the text of a memorandum of understanding had been finalized. The country’s deputy foreign minister described it as a step toward broader regional stability, though details on nuclear material and long-term security arrangements remain subject to further talks.
Key Elements of the Agreement
The preliminary deal calls for the immediate and permanent termination of military operations, the reopening of the Strait of Hormuz to all shipping without tolls, and the lifting of the U.S. blockade imposed earlier in the conflict. Mediators from Pakistan and Qatar played key roles in brokering the understanding.
Questions persist over crucial issues, including the handling of Iran’s nuclear program, the status of frozen assets and the presence of Israeli forces in Lebanon. Israel has indicated that its operations there would continue independently, despite the broader ceasefire framework.
The agreement comes after more than three months of fighting that disrupted global shipping, drove up energy prices and raised fears of wider escalation involving multiple regional actors. The prospect of restored oil flows has already eased market concerns, with analysts noting “every chance of avoiding a prolonged energy shock.”
Reactions from Key Parties
In Iran, the deal has been portrayed as a strategic success against U.S. and Israeli pressure. Senior officials hailed the outcome as a demonstration of resilience, while cautioning that full implementation would require careful monitoring.
Lebanon welcomed the end to military operations, viewing it as a step toward de-escalation in a country long affected by cross-border tensions. However, Israeli statements underscored ongoing differences, with officials vowing to maintain security measures independently.
Global leaders have broadly welcomed the news, expressing hope that the agreement will stabilize energy markets and reduce humanitarian risks. European officials emphasized the importance of addressing nuclear concerns in subsequent talks to ensure long-term compliance.
Economic and Market Impact
The announcement triggered an immediate drop in oil prices, providing relief to consumers and industries worldwide. Energy analysts project increased supply through the Strait of Hormuz, which handles a significant portion of global seaborne oil trade, could help moderate prices in the coming weeks.
Stock markets reacted positively, with gains in transportation and consumer sectors as fears of supply disruptions eased. Broader financial markets also benefited from reduced geopolitical risk premium.
For the U.S. economy, lower energy costs could support consumer spending and help moderate inflation pressures. The agreement is expected to benefit American businesses reliant on stable international shipping routes.
Background and Path to Agreement
The conflict escalated earlier this year, leading to direct confrontations and a U.S. naval blockade that severely restricted Iranian oil exports. Diplomatic efforts, intensified through back-channel talks and mediation by regional partners, culminated in the current framework.
Pakistan’s prime minister announced that a final agreed text had been reached, with the signing ceremony planned for Geneva. The memorandum serves as an initial step, with 60 days allocated for deeper negotiations on nuclear issues and sanctions.
Both sides have expressed cautious optimism. Trump highlighted the deal as a major diplomatic achievement, while Iranian officials stressed their core demands had been addressed without compromising sovereignty.
Challenges Ahead
Significant hurdles remain in fully implementing and sustaining the agreement. Verification mechanisms for ceasefire compliance, timelines for sanctions relief and monitoring of nuclear activities will require robust international oversight. Differences between the U.S., Iran and Israel could complicate long-term stability.
Humanitarian concerns persist in affected regions, with calls for accelerated aid delivery and reconstruction efforts. The deal’s success will ultimately depend on sustained diplomatic engagement and mutual adherence to commitments.
Broader Regional and Global Implications
The agreement represents a significant de-escalation in one of the world’s most volatile regions, potentially opening pathways for broader diplomatic initiatives. It could influence dynamics involving other actors, including proxy groups and neighboring states.
For global energy security, restored access to the Strait of Hormuz reduces risks of supply shocks that have historically roiled markets. The development also underscores the role of diplomacy in resolving high-stakes conflicts amid complex alliances.
As details of the full text emerge, analysts will assess its durability and potential for expansion into a comprehensive regional framework. For now, the announcement brings cautious hope that months of conflict may give way to renewed stability and economic recovery.
The U.S.-Iran agreement marks a pivotal moment in international relations, demonstrating that even entrenched adversaries can find common ground when strategic interests align. Its implementation will be closely watched by markets, governments and citizens across the Middle East and beyond as the world assesses prospects for lasting peace.
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Prime Capital Financial CIO Will McGough discusses market reactions to the U.S.-Iran peace deal, causing oil prices to drop and airline stocks to soar.
Oil prices fell on Monday to the lowest levels since early March following the announcement of a preliminary agreement between the U.S. and Iran to end the war that has strained the energy market.
West Texas Intermediate (WTI) crude oil prices were down over 5% during Monday’s trading session on the news, trading just above $80 a barrel.
Despite that decline, prices for the U.S. oil benchmark remain well above their pre-war levels, as oil prices were between $60 and $70 a barrel in the month leading up to the beginning of the conflict.
Prices for Brent crude, the global benchmark, were down over 3.6% on Monday and were trading below $80 a barrel for the first time since early March.
US OIL RESERVES DROP TOWARDS REAGAN-ERA LOWS, ‘SIGNIFICANT IMPACT AT THE PUMP’ COMING, EXPERTS WARN
President Donald Trump said a deal with Iran has been signed and will take effect this week. (Fatemeh Bahrami/Anadolu Agency/Getty Images)
The decline in oil prices occurred after President Donald Trump said that he signed a memorandum of understanding with Iran that aims to end the war, which has disrupted the flow of oil shipped via tankers transiting the Strait of Hormuz.
The vital chokepoint has had tanker traffic reduced substantially during the war, pushing oil prices higher and raising supply concerns in regions with limited oil production.
“The deal’s all signed. And the Strait is already partially opened,” Trump said after he arrived in France for the G7 summit.
ZELDIN TOUTS US ENERGY FUTURE, SAYS INDO-PACIFIC NATIONS INCREASINGLY INTEREST IN AMERICAN SUPPLY
Oil prices remain above their pre-war levels. (Reuters/Todd Korol)
An official signing ceremony is planned for Friday in Geneva, which is about an hour away from the summit’s location in Evian-les-Bains in the French Alps.
Trump was asked about when the Iran memorandum will be published publicly and said, “I think pretty soon, I would say. I mean, I want it to be released because it’s a very powerful document. It’s not like the Obama document, which was just a terrible document.”
“So probably pretty soon, I would say sometime after Friday, because the Strait opens – it’s open now, but it opens completely, we’ll have all the mines knocked out for the most part. We have a lot of lanes right now,” Trump said.
The president added that the agreement is “really a behavioral thing” when it comes to Iran because if “they do what they’re supposed to do, that starts taking effect.”
The disruption of oil flows from the Middle East has pushed consumer prices higher in the U.S., driving a jump in inflation. (Giuseppe Cacace/AFP via Getty Images)
The deal to end the war with Iran is expected to ease pressure on the Federal Reserve to raise interest rates to curb inflation, which surged to a three-year high in May as gas prices hit consumers’ budgets.
BMO’s U.S. rates strategist, Vail Hartman, said that the “oil shock is not over, and we are not at the point of reviving hopes of interest rate cuts this year. We would need more concrete changes in the macro outlook.”
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Reuters contributed to this report.
Business
Stephen A. Smith Backs Rare Championship Ring Honor for Spike Lee After Knicks’ 2026 Title Triumph
NEW YORK — ESPN personality Stephen A. Smith has thrown his support behind awarding filmmaker Spike Lee a New York Knicks championship ring, praising the longtime season-ticket holder’s decades of unwavering loyalty following the franchise’s first NBA title in 53 years.
The Knicks defeated the San Antonio Spurs in the 2026 NBA Finals, ending a championship drought dating back to 1973. Lee, one of the team’s most recognizable fans, has occupied courtside seats at Madison Square Garden since 1985 — the same year Patrick Ewing was drafted. His passionate support through years of heartbreak and rebuilds has made him a cultural symbol of Knicks fandom.
Smith, a prominent Knicks supporter himself, publicly endorsed the idea of presenting Lee with a ring in recognition of his extraordinary commitment. “I completely support this for Spike Lee. No Knicks’ fan deserves this more than him,” Smith stated.
The suggestion has sparked debate about the boundaries between players, staff and dedicated fans in championship celebrations. While championship rings are traditionally reserved for those directly involved in on-court or organizational roles, Lee’s four-decade investment and public advocacy have elevated his status to something closer to an honorary team member in the eyes of many supporters.
Lee’s Enduring Knicks Legacy
Spike Lee became a Knicks season-ticket holder in 1985 and has rarely missed home games, even during the franchise’s most difficult periods. Reports estimate he has spent more than $10 million on courtside seats over the years, with annual costs averaging around $300,000 in recent seasons. His presence at games, often captured in broadcasts wearing iconic Knicks gear, has become part of the Madison Square Garden experience.
Lee’s fandom extends beyond attendance. The Oscar-nominated director has used his platform to celebrate the team, criticize management during lean years, and champion players through highs and lows. From the Ewing era to the recent resurgence led by Jalen Brunson, Lee has embodied the resilience of Knicks supporters.
The 2026 title run, capped by a hard-fought series victory over the Spurs, represented the payoff for generations of fans. Lee’s emotional reaction to the clinching win was widely shared, symbolizing the catharsis felt across New York.
Smith’s Endorsement and Fan Reaction
Stephen A. Smith’s comments added significant weight to the ring discussion. Known for his passionate Knicks commentary, Smith has long highlighted Lee’s dedication as exceptional. During Finals coverage, he noted that while he personally would not seek a ring as a broadcaster, Lee’s unique position warranted special consideration.
The proposal has resonated with fans, many of whom view Lee as an extension of the organization itself. Social media erupted with support, with hashtags celebrating the idea of honoring “the ultimate Knicks fan.” Others cautioned that rings should remain exclusive to contributors on the court and in the front office to preserve their meaning.
Knicks ownership and leadership have not publicly commented on the suggestion. However, the franchise has a history of recognizing super fans and longtime supporters through various honors, including banner raisings and ceremonial events.
Historical Context of Fan Honors in Sports
Championship rings carry deep symbolic value in professional sports, representing sacrifice, achievement and belonging. While rare, precedents exist for extending honors beyond players and staff. Some teams have presented customized rings or equivalent memorabilia to legendary broadcasters, longtime season-ticket holders and community icons.
In basketball, the NBA has occasionally recognized exceptional contributions through ceremonial gestures. Lee’s case stands out due to the length of his commitment and his role in shaping the public image of Knicks basketball. His courtside presence has become as much a part of game-day tradition as the Knicks City Dancers or the signature blue and orange color scheme.
Critics of the idea argue that creating such exceptions could diminish the exclusivity of championship rings. Supporters counter that Lee’s financial and emotional investment over 41 years represents a different but equally meaningful form of contribution to the franchise’s cultural fabric.
The Knicks’ Championship Journey
The 2026 title marked a triumphant return to glory for the Knicks. Led by Brunson’s Finals MVP performance and a balanced roster featuring stars like Mikal Bridges and Karl-Anthony Towns, the team overcame early-season doubts to deliver New York its first championship since the early 1970s.
The victory triggered massive celebrations across the city, with the Empire State Building lit in Knicks colors and parades planned. For Lee, who had witnessed numerous false starts and painful playoff exits, the moment carried particular significance. His visible joy during the clinching game became one of the defining images of the championship run.
Broader Implications for Fan Culture
The discussion around Lee highlights evolving perspectives on fan engagement in modern sports. As ticket prices rise and access to elite seating becomes more exclusive, superfans like Lee represent a bridge between the organization and its loyal base. Honoring such dedication could strengthen community ties and enhance the fan experience.
Sports franchises increasingly recognize the value of cultivating deep emotional connections with supporters. Whether through personalized experiences, Hall of Fame inductions for fans or symbolic gestures like a championship ring, these acknowledgments can boost loyalty and brand strength.
For the Knicks, presenting Lee with a ring — or a customized equivalent — would send a powerful message about the importance of sustained fandom. It would also generate positive publicity and reinforce the team’s identity as one deeply rooted in New York culture.
Looking Ahead
As the Knicks begin their title defense, attention will turn to roster moves and preparations for the new season. The ring debate for Spike Lee adds an engaging subplot to the championship aftermath, reflecting the passion that defines Knicks basketball.
Regardless of the final decision, Lee’s place in franchise lore is secure. His four decades of support through triumph and tribulation embody the spirit of New York sports fans. Stephen A. Smith’s endorsement has amplified the conversation, ensuring that one of the most visible symbols of Knicks resilience receives due consideration.
The 2026 championship already stands as a landmark achievement. Whether or not Spike Lee receives a physical ring, his legacy as one of the greatest fans in NBA history remains firmly intact, a testament to loyalty that helped carry the franchise through its longest championship drought.
Business
Dow Surges 634 Points to Record High as US-Iran Peace Deal Sparks Broad Market Relief Rally
NEW YORK — The Dow Jones Industrial Average soared more than 600 points on Monday, closing at a record 51,835.82 after gaining 633.56 points or 1.24%, as investors cheered the U.S.-Iran peace agreement and the reopening of the Strait of Hormuz, easing fears of prolonged energy disruptions and boosting confidence across global markets.
The sharp advance marked one of the strongest sessions of the year, driven by relief over de-escalation in the Middle East and expectations of steadier oil prices. The S&P 500 and Nasdaq Composite also posted solid gains, reflecting broad-based buying as geopolitical risk premium faded from asset prices.
President Donald Trump’s announcement that the deal with Iran is complete and the immediate lifting of the naval blockade triggered a swift positive reaction. The prospect of unrestricted shipping through the critical Strait of Hormuz removed a major overhang that had weighed on energy markets and broader economic sentiment in recent months.
Peace Deal Fuels Risk-On Sentiment
The agreement, set for formal signing in Switzerland, includes an end to military operations and technical talks on Iran’s nuclear program. Oil prices fell sharply on the news, providing relief to consumers and industries while supporting sectors sensitive to energy costs.
Financial stocks led the Dow’s advance, with major banks benefiting from improved economic outlook and lower volatility expectations. Technology and industrial shares also gained ground as investors rotated into cyclical names. Energy stocks showed mixed performance, with some producers trimming gains as crude prices moderated.
Market participants welcomed the development as a significant step toward regional stability. “This removes a major source of uncertainty that had been hanging over markets,” one senior trader noted in floor commentary. The Dow’s record close reflects growing optimism that the ceasefire can hold and lead to normalized trade flows.
Broader Economic Context
The rally comes amid a resilient U.S. economy showing steady growth despite earlier concerns over inflation and interest rates. Corporate earnings have largely met or exceeded expectations, with particular strength in technology and financial services. The Federal Reserve’s measured approach to policy has provided a supportive backdrop for equities.
Analysts highlighted the deal’s potential to stabilize energy prices, which could help moderate inflationary pressures and support consumer spending. Lower fuel costs benefit transportation, manufacturing and household budgets, creating positive ripple effects across the economy.
The session also reflected continued confidence in the Trump administration’s ability to deliver on major foreign policy initiatives. The timing, coinciding with other positive developments including strong corporate results and easing global tensions, amplified the positive momentum.
Sector and Stock Highlights
Industrial giants such as Boeing and Caterpillar posted notable gains, benefiting from expectations of improved global trade. Financial names including Goldman Sachs and JPMorgan Chase advanced on lower volatility and stronger economic growth prospects. Technology components like Apple and Microsoft contributed steadily to the index rise.
Energy majors showed more muted moves as the market digested falling oil prices. The broader materials and consumer discretionary sectors also participated in the advance, signaling widespread relief across the economy.
Smaller companies and the Russell 2000 index outperformed on the session, indicating that investors were embracing risk and betting on broader economic participation beyond mega-cap names.
Global Market Reactions
European and Asian markets followed Wall Street higher in subsequent trading, with gains in energy-sensitive and export-oriented shares. The euro and other currencies strengthened modestly against the dollar as risk sentiment improved.
Oil futures declined several percent, easing pressure on import-dependent economies and supporting global growth forecasts. Gold and other safe-haven assets saw modest pullbacks as investors reduced defensive positioning.
Analyst Perspectives
Market strategists described the move as a classic risk-on reaction to geopolitical de-escalation. “Removing the Hormuz uncertainty is a big positive for global growth expectations,” one chief investment strategist said. “It allows markets to focus more on fundamentals like earnings and monetary policy.”
Some cautioned that implementation details and verification mechanisms would be key to sustaining the rally. Questions remain around long-term nuclear arrangements and regional security, which could introduce renewed volatility if talks stall.
Nevertheless, the consensus leaned optimistic. The Dow’s ability to push to new highs demonstrates underlying strength in the U.S. economy and corporate sector. Year-to-date performance remains robust, with the index on track for strong annual returns if current momentum holds.
Historical Significance
Monday’s gain adds to a series of record closes for the Dow in 2026, reflecting the market’s resilience amid shifting geopolitical and economic landscapes. The index has benefited from corporate innovation, resilient consumer spending and periodic relief from international tensions.
The current environment contrasts with periods of heightened uncertainty earlier in the year. Sustained progress on trade, energy security and domestic policy could support further upside, according to many observers.
Investor Implications
For individual investors, the session reinforces the importance of maintaining diversified portfolios capable of navigating both risks and opportunities. Those with exposure to cyclical sectors and international markets likely benefited most from the relief rally.
Financial advisers recommend focusing on companies with strong balance sheets, pricing power and exposure to long-term growth themes such as energy transition and technology. While geopolitical developments can drive short-term moves, underlying fundamentals remain the primary driver over time.
The Dow’s performance also highlights the interconnected nature of global markets. Developments in the Middle East continue to influence U.S. equities, underscoring the need for awareness of international events.
Looking Ahead
Attention now turns to upcoming economic data releases, corporate earnings and any further details on the Iran agreement implementation. The Federal Reserve’s next policy meeting will also be closely watched for signals on interest rate trajectory.
As markets digest the latest geopolitical breakthrough, the focus remains on whether the positive momentum can be sustained. Strong corporate fundamentals and easing external risks provide a constructive backdrop, though volatility is likely to persist given the fluid nature of international relations.
Monday’s record close for the Dow Jones Industrial Average represents a vote of confidence in the resilience of the U.S. economy and the potential for reduced global tensions to support growth. Investors will continue monitoring developments in the Middle East and their implications for energy prices, inflation and broader market sentiment in the weeks ahead.
The session serves as a reminder of markets’ sensitivity to geopolitical headlines while also showcasing their capacity for rapid recovery when major risks recede. For now, the Dow’s milestone underscores a cautiously optimistic outlook as 2026 progresses.
JHVEPhoto/iStock Editorial via Getty Images
Fast Facts
REX NVDA Growth & Income ETF (NVII) is an actively managed ETF launched on 05/28/2025 with a primary objective of weekly income and a secondary objective of leveraged exposure to the common stock of NVIDIA Corporation (NVDA) with a daily factor between 1.05 and 1.5. NVII has a total expense ratio of 1.49% and an extremely high distribution rate: 48.12%. Distributions are paid on a weekly basis. NVII is a small but quite liquid ETF, with $102 million in assets under management and an average daily trading volume of $3.6 million. The fund’s issuer, REX Shares, specializes in alternative strategy ETFs and ETNs, in particular thematic, leveraged, and options income products.
Strategy
As described in the prospectus by REX Shares, the fund maintains notional exposure to the common stock of Nvidia between 105% and 150% of NAV using derivatives such as options, swap agreements, and leveraged ETFs on Nvidia, and may also hold the stock itself. The exact leverage factor may change based on real-time technical analysis. The portfolio is rebalanced on a daily basis to attain the targeted exposure every single day.
Additionally, the fund writes covered call options to generate income from premiums. These options may limit participation in the upside potential of the underlying stock. The fund also holds treasuries and cash equivalents as collateral for derivatives.
The fund may use a synthetic covered call strategy, with exposure in Nvidia obtained by a “synthetic long” using a combination of options designed to replicate the asset’s price return. A synthetic long consists of buying call options and selling put options on the underlying asset with the same expiration date and strike price.
There is no guarantee that the objectives of exposure and weekly distributions will be met. Distributions may have a high rate of ROC (return of capital), reducing NAV and therefore the amount of future distributions. Moreover, the daily rebalancing generates leveraged drift (“beta-slippage”), making unpredictable the leverage factor measured on a period longer than one day.
Portfolio
NVII has a 1.25 leverage factor, 120% of net asset value in cash equivalents and treasuries, and three positions in NVDA options, which currently are:
- A long call and a short put corresponding to a synthetic long expiring on 6/18/2026 with a strike price of 235.74.
- A short call (covered call) expiring the same day with a strike price of 208.97.
This is an example from 6/12/2026. Portfolio constituents and leverage may have changed by the time you read this and will, of course, change over time.
Fundamentals
Nvidia is the publicly traded company with the largest market capitalization in the world at the time of writing (about $5 trillion) and is classified by GICS in the Information Technology sector and in the Semiconductors industry. Its share price has been multiplied by 13 since January 2023, propelled by the company’s leadership in AI chips and market sentiment. Based on Seeking Alpha’s quantitative factor grades, NVDA has excellent growth and profitability characteristics, but stretched valuation.
NVDA quantitative factor grades (Seeking Alpha)
Seeking Alpha’s aggregate quantitative ranking puts NVDA in 28th position in its industry among 69 companies, with Micron Technology, Inc. (MU), Intel Corporation (INTC), and Advanced Micro Devices, Inc. (AMD) in the top ranks. As the tech environment changes, so can these rankings.
Historical Performance
Currently, NVII is 9% ahead of Nvidia in total return between its inception and 6/12/2026. It is encouraging, but the fund has a short history, and this gap may not be representative of its long-term potential.
NVII vs. NVDA total return (Seeking Alpha)
In this time frame, the share price is close to flat, all the gains coming from distributions.
NVII price return (Seeking Alpha)
The weekly distributions have been very variable, with an average of $0.26 per share, as plotted below.
Distribution history (Chart: author; data: REX Shares)
For 2026 until 6/12, distributions have been classified as 97.7% return of capital (“ROC”). High ROC may have a negative impact on a shareholder’s tax. For example, non-resident aliens (“NRA accounts”) may be initially submitted to withholding tax, with an adjustment at year-end that is not always automatic, depending on the broker. High return of capital over time can also indicate potential NAV decay.
NVII Vs. Competitors
The next table compares characteristics of NVII and four derivative income ETFs based on NVDA:
- YieldMax NVDA Option Income Strategy ETF (NVDY).
- Roundhill NVDA WeeklyPay™ ETF (NVDW).
- GraniteShares YieldBOOST NVDA ETF (NVYY).
- GraniteShares Autocallable NVDA ETF (ANV).
NVII has the highest expense ratio and the lowest yield, but the best total return.
Market Interest
The fund had a solid start in asset growth and investor interest, represented by outstanding shares and average volume on the next chart. As the popularity of the underlying (Nvidia) changes, this ETF could be affected. Waning investor interest would hurt NVII in terms of asset growth, and AUM could shrink. If implied volatility falls, this would diminish its income generation potential. Additionally, due to the leverage factor, price drops in Nvidia would be magnified.
Outstanding shares in million and 3-month average daily volume (Portfolio123)
Strengths And Risks
The strengths of NVII are:
- A very high yield.
- Weekly distributions.
- Sufficient liquidity.
- Outperformance compared to peers.
The risk factors of investing in the fund include:
- High expense ratio.
- Low AUM.
- Short history.
- Single stock exposure (company-specific risk).
- Active management (limited transparency).
Takeaway
NVII is best suited for investors who are bullish on Nvidia and seek to combine income and capital appreciation. The latter may only be achieved by reinvesting a part of distributions. Due to the risk factors listed above, this ETF is better used as a satellite rather than a core holding.
This article answers these three main questions about NVII:
- How does NVII incorporate income and Nvidia’s price action?
- How has NVII performed compared to its underlying stock and similar ETFs?
- What type of investor is NVII best suited for?
Editor’s note: This article is intended to provide a general overview of the ETF for educational purposes only and, unlike other articles on Seeking Alpha, does not offer an investment opinion about the ETF.
NEW YORK — The Nasdaq Composite climbed more than 600 points on Monday, closing at 26,498.53 after gaining 609.69 points or 2.36%, as investors embraced the US-Iran peace agreement and the reopening of the Strait of Hormuz, driving strong gains in technology and growth stocks amid reduced geopolitical uncertainty.
The session marked one of the strongest performances of the year for the tech-heavy index, reflecting broad relief that a potential prolonged energy crisis had been averted. Major technology companies led the advance, with semiconductor, software and internet stocks benefiting from improved risk sentiment and expectations of stable global economic conditions.
The US-Iran ceasefire announcement, which includes the immediate lifting of the naval blockade and reopening of the critical oil shipping lane, removed a significant overhang that had weighed on markets in recent weeks. President Donald Trump’s confirmation of the deal triggered a sharp positive reaction across equities, particularly in sectors sensitive to energy costs and global trade.
Tech Sector Powers Nasdaq Advance
Heavyweight technology names posted solid gains as lower oil prices eased inflationary concerns and supported spending on innovation and capital equipment. Companies with exposure to artificial intelligence, cloud computing and digital infrastructure were among the top performers, continuing a trend of strength in growth-oriented stocks.
The rally extended to broader growth names, with semiconductor manufacturers and electric vehicle-related shares advancing on expectations of steadier supply chains and consumer demand. The peace deal is seen as particularly beneficial for technology firms with global operations, reducing risks around international shipping and energy expenses.
Financial and industrial stocks also contributed meaningfully, rounding out a broad-based advance. The strong performance underscored the market’s sensitivity to geopolitical developments and its capacity for swift recovery when major risks recede.
Broader Market Context
The Nasdaq’s surge aligned with gains in the Dow Jones Industrial Average and S&P 500, creating a synchronized rally across major US indices. The move reflected improved global risk appetite following the diplomatic breakthrough, which analysts described as a significant de-escalation in one of the world’s most volatile regions.
Oil prices declined sharply on the news, providing relief to consumers and businesses while supporting corporate margins across multiple sectors. Lower energy costs are expected to help moderate inflationary pressures, potentially giving central banks more flexibility in future policy decisions.
The session came amid a resilient US economy showing steady growth and solid corporate earnings. Technology companies have been at the forefront of recent market gains, driven by advancements in artificial intelligence and strong demand for digital services. Monday’s performance reinforced confidence in the sector’s long-term growth prospects.
Analyst and Investor Perspectives
Market strategists viewed the rally as a classic risk-on response to geopolitical relief. “The removal of Hormuz-related uncertainty is a clear positive for global growth expectations and corporate profitability,” one chief market strategist noted. “Technology stocks, with their high sensitivity to economic conditions and global trade, stand to benefit disproportionately.”
Some observers cautioned that the sustainability of the gains would depend on the durability of the ceasefire and progress in subsequent nuclear negotiations. However, the immediate market reaction highlighted investors’ willingness to price in a more stable outlook.
Institutional investors appeared to add to positions in growth stocks, with inflows into technology-focused funds reported during the session. Retail participation was also strong, with trading volumes elevated as individual investors reacted to the positive headlines.
Economic and Policy Implications
The peace agreement could have meaningful implications for US monetary policy. Lower energy prices may help keep inflation in check, potentially supporting a more accommodative stance from the Federal Reserve. This environment generally favors growth stocks that dominate the Nasdaq.
Corporate America stands to benefit from reduced uncertainty around international operations and supply chains. Technology firms with significant overseas revenue and exposure to global markets are particularly well-positioned to capitalize on improved conditions.
The rally also reflected confidence in the broader economic outlook. Strong consumer spending, robust labor markets and continued innovation in key sectors provide a solid foundation for equities even as markets navigate periodic volatility.
Historical Perspective
Monday’s gain adds to the Nasdaq’s strong performance in 2026, as the index continues to benefit from technological innovation and corporate adaptability. The current environment contrasts with periods of heightened geopolitical tension earlier in the year, demonstrating markets’ resilience when major risks ease.
Technology-led rallies have been a defining feature of recent market cycles, driven by artificial intelligence, cloud computing and digital transformation trends. The Nasdaq’s ability to reach new highs underscores the sector’s enduring appeal to growth-oriented investors.
Investor Considerations
For individual investors, the session reinforces the importance of maintaining diversified portfolios capable of capturing opportunities across market conditions. Those with exposure to technology and growth stocks likely benefited most from Monday’s advance, while balanced allocations helped mitigate volatility.
Financial advisers recommend focusing on companies with strong competitive advantages, robust balance sheets and exposure to long-term secular trends. While geopolitical developments can drive short-term movements, underlying fundamentals and innovation cycles remain the primary drivers over time.
The Nasdaq’s performance also highlights the interconnected nature of global events and US equities. Investors are encouraged to stay informed about international developments while maintaining a long-term perspective.
Looking Ahead
Attention now shifts to upcoming economic data releases, corporate earnings reports and any further details on the implementation of the Iran agreement. The Federal Reserve’s communications and policy path will also be closely monitored for signals on interest rates.
As markets digest the latest geopolitical breakthrough, the focus remains on whether the positive momentum can be sustained. Strong corporate fundamentals, easing external risks and continued technological progress provide a constructive backdrop, though periodic volatility is likely given the fluid nature of international relations.
Monday’s strong close for the Nasdaq Composite represents a clear vote of confidence in the resilience of the US economy and the potential for reduced global tensions to support innovation and growth. Investors will continue monitoring developments in the Middle East and their implications for energy prices, inflation and broader market sentiment in the weeks ahead.
The session serves as a reminder of markets’ sensitivity to headline news while also showcasing their capacity for rapid recovery when major uncertainties diminish. For now, the Nasdaq’s performance underscores a cautiously optimistic outlook as 2026 continues to unfold.
Business
LARRY KUDLOW: Because We Never Trust Iran, That’s All the More Reason To Verify, Verify, Verify
FOX Business host Larry Kudlow discusses efforts to end the conflict in Iran on ‘Kudlow.’
Give at least a couple of cheers for coercive diplomacy, which is to say diplomacy through bombing. As the Prussian military strategist Carl von Clausewitz told us a couple hundred years ago, “war is the continuation of politics,” or diplomacy, “by other means.”
Last week’s bombing may well have finally pushed Iran and all their internal factions to at least signing a memo of understanding that represents at least the beginning of the end of the war.
President Trump is a master at coercive diplomacy. He’s also a master of psychological warfare diplomacy with his threats to destroy Iran’s infrastructure, such as power, bridges, water, etcetera. He even kept Kharg island, the apex of Iran’s energy industry, in play as well.
The full text of the memo might come at the end of the week with a formal signing ceremony, as Mr. Trump said today at the G-7 meeting in France.
After the Trump Iran Deal opens the Strait of Hormuz, markets rally & oil plunges to a 3-month low. Brian Brenberg, Dagen McDowell, Taylor Riggs, and David Bahnsen discuss economic implications, midterms, and business investment.
Asked by a reporter “when will the text of the MOU be released,” Mr. Trump replied: “I think pretty soon I would say I mean, I want it to be released because it’s a very powerful document. It’s not like the Obama document, which was just a terrible document. This is a very powerful document and I want it to be released. So probably pretty soon, I would say after sometime after Friday, of course, the Strait opens.”
And though we await all of the details, it seems that the president is keeping all his promises to the American people. And, for that matter, to the defeated and surrendering Iranians. They may never acknowledge their surrender, but they are surrendering.
Mr. Trump has said no nuclear weapons for Iran, and that’s in the deal. He has said that the nuclearized enriched uranium must be transferred out of Iran or destroyed altogether. White House sources maintain that’s in the deal.
He has promised a free navigation reopening of the Strait of Hormuz without any Iranian tolls, and that’s in the deal. Here’s what the president said today on Iranian nukes, again from the G-7 in France: “the main thing is that Iran will not have a nuclear weapon. They fully agreed to that with strong policing powers, and they won’t have a nuclear weapon, which is what it was all about, because they probably would have used it if they had it.”
Now Mr. Trump has also said no money for Iran unless and until they completely change their behavior. And there will be strict performance metrics for all these Trumpian red lines. Again, here’s the president earlier today on this point.
Mr. Trump was asked by a reporter whether the deal will “involve any sanctions relief for Iran?” and if so, “when would that go into effect?”
The president replied: “No it doesn’t. Well, they have to. It’s really a behavioral thing. If they do what they’re supposed to do, that starts taking effect.”
Now all the administration people keep talking about verification. Verify, verify, verify.
House Judiciary Committee Chairman Rep. Jim Jordan, R-Ohio, discusses concerns over high NFL streaming costs and President Donald Trump announcing that the deal with Iran is complete on ‘Varney & Co.’
I understand in all these areas the devil is in the operational details necessary to execute this memorandum of understanding. All that has to be worked out.
We all know Iran has absolutely no credibility on any of these points. That’s why I don’t think anyone can say the war is yet over. Yet I will amend Ronald Reagan, we never trust Iran. And that’s even more reason why we must verify, verify, and verify.
I also recognize that Israel, our great ally and comrade in arms, may still have a lot more work to do to defend its freedom.
Let’s step back a moment, though, and recognize that Mr. Trump has crushed Iran militarily through Epic Fury. Mr. Trump and the Treasury secretary, Scott Bessent, have crushed Iran financially through economic fury. And special mention to our United States Navy for their steel-door blockade of Iranian ports.
Lots of former presidents have railed against Iran. But no one has remotely done what Mr. Trump has done to curb the gruesome, diabolical, evil, radical Islamist outlaws that Mr. Trump has done. No one.
And that’s why I believe people of good faith who want to see freedom truly come to the middle east should support the Trumpian memorandum of understanding and turn that into an actual verifiable agreement.
Investing wisely does not have to be rocket science. It is about discipline and running the numbers. You don’t have to be like a grandmaster chess player playing the game twenty moves ahead of your opponent, you just need to understand how the pieces work.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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