AlphaScala Daily: NKE cluster buy, MU tops the model

Good morning.

Bitcoin clawed back to $60,584 overnight, up 1.87%, with ether tracking higher near $1,595 and gold slipping under $4,051. The signal tape is where it gets interesting: four Nike insiders bought a net $2.17M over the past 90 days, and Micron sits atop the AlphaScala model at 80/100, with Kinross Gold right behind at 79. Matthew Van Epps, meanwhile, sold all three of Alphabet, Amazon, and Apple. Here's what matters.

Markets

• XAU/USD 4,050.6 ▼ -0.74% (Gold)
• BTC/USD 60,583.61 ▲ +1.87% (BTC)
• ETH/USD 1,594.54 ▲ +1.43% (ETH)

Deal Flow

M&A

• FundBank Rebrands as IRACE Digital, Aims at Fiat-Crypto Bridge (CoinDesk) FundBank rebrands to IRACE Digital, acquires Cayman bank Tenet, hires ex-Zodia CEO John Cronin. The institutional banking play aims to unify fiat and crypto operations under one…
• SARCO wraps up regulatory procedures for waste stake (Argaam) SARCO completed regulatory procedures to acquire a stake in Global Waste Solutions. The deal expands the refiner's environmental services footprint.
• Nofoth signs MoU to acquire 70% stake in Al Waal Al Bari Beverages (Argaam) The non-binding MoU gives Nofoth a path into the Saudi beverage market. Due diligence and regulatory hurdles remain. Completion would add a new revenue stream.
• Kiwoom Eyes Bithumb Stake as Brokerages Race Into Crypto (CT) Kiwoom Securities is seeking to acquire a stake in crypto exchange Bithumb ahead of South Korea's July crypto regulation that could open the door for brokerages.
• TRMD: $25 Support and Q2 Earnings at Crossroads (SA) TORM shares test $25 support as Q2 earnings approach. Tanker rate trends and Hafnia merger uncertainty will determine if the premium returns. AlphaScala analysis covers the risk…

IPOs / Listings

• Securitize Set to Raise $400 Million as NYSE Listing Nears (Unchained) Securitize expects to close its SPAC merger July 1 and list on NYSE under SECZ on July 2. Fewer than 30% of CEPT shares were redeemed, locking in $400 million.

Funding Rounds

• Social Trading Platform Fomo Raises $75M at $550M Valuation (Forbes) Fomo raised $75M at a $550M valuation from Index Ventures, USV, and Benchmark. The social trading app combines multi-chain trading with a feed for following friends and public…

Funds

• Framework Ventures Raises $400M, Expands Into Frontier Tech (Bitcoin) Crypto-native VC Framework Ventures closes $400M fourth fund, oversubscribed, to deploy into frontier tech including AI and robotics. Also backs energy and blockchain bets.

Headline Roundup

Macro

• UK Father's Day micro peak adds £40m to online retail sales (Internetretailing) Father's Day on June 21 drove online sales up £40m in the UK, the latest micro peak in a retail calendar shifting from seasonal spikes to frequent short bursts.
• BIS Warns AI Spending Bust Could Spread to Broader Economy (Nakedcapitalism) The BIS warns Big Tech's $1 trillion AI spending binge risks ending in a bust that could rattle markets and damage the global economy. Margin debt and circular financing amplify…

Stocks

• Mumbai Procession Poison Plot Exposes Gaps in Chemical Oversight (Mint) A man distributed poisoned capsules at a Mumbai Muharram procession, police said. The case highlights event-security risks and gaps in chemical oversight.
• Malath shareholders reject SAR 2.54M board pay for 2025 (Argaam) Shareholders of Malath Cooperative Insurance rejected a SAR 2.54 million board remuneration proposal for 2025, a rare instance of pay pushback in Saudi insurance.
• Tam, IHR, Almujtama Medical, AME go ex-dividend June 29 (Argaam) Four Nomu-listed stocks trade ex-dividend today, June 29. Share prices adjust down by the dividend amount. Maharah and Almuneef also go ex-dividend. Existing holders receive the…
• First Mills shareholders reject ownership change bylaw (Argaam) First Mills shareholders rejected a proposal to add a bylaw provision restricting changes in share ownership at the Saudi flour miller's general assembly.
• Where You Retire: The Biggest Lever in Your FIRE Number (Madfientist) Sequence-of-returns risk can devastate early retirement. Geographic flexibility lets you cut spending without selling assets. Here's how much it can shave off your timeline.
• Neo Space Group activates first IFC on Saudia's Airbus A321XLR (English) Neo Space Group activated NSG Skywaves® connectivity aboard Saudia's first A321XLR, reaching 200 Mbps speeds. The PIF-backed company integrates satellite capacity, airborne tech…
• J.C. Flowers directors join Niyam reinsurance board (Reinsurancene) Two J.C. Flowers managing directors join Niyam Group's board, deepening the private-equity firm's backing of the Indian reinsurer based in GIFT City.
• Gulf Insurance Group hits 52-week high on TASI (Argaam) Gulf Insurance Group shares touched a 52-week high June 29. The Saudi insurer is riding sector growth and a strong TASI. Next up: earnings and volume confirmation.

Crypto

• Stablecoin supply stalls as payment rails outrun retail demand (CryptoSlate) Search volume for stablecoins fell 54% in June. Market cap dropped 2.5% to $313B. Visa and Stripe build payment rails while retail demand cools.
• FundBank Rebrands as IRACE Digital, Targets Fiat-Crypto Bridge (Crypto Briefing) FundBank Group rebrands as IRACE Digital, targeting institutional clients needing banking infrastructure across fiat and crypto. OCC license, Irish branch, Komainu partnership.
• MiCA Deadline Hits July 1: 83% of EU Crypto Firms Still Unlicensed (Crypto news) 83% of EU crypto firms still lack MiCA licences as the July 1 deadline hits. ESMA's register is public. Users on unlicensed platforms face service suspension and wind-downs.
• CLARITY Act's CBDC Ban Tilts Stablecoin Field Away from Sovereign Rival (Crypto news) The CLARITY Act's anti-CBDC provision bars a US digital dollar, directly protecting private stablecoins like USDC and RLUSD from a sovereign rival.
• Galaxy Research Cuts CLARITY Act Passage Odds to 50% (Cryip) Galaxy Research cut its CLARITY Act passage odds to 50% from 60%, citing a crowded Senate calendar and stalled legislative progress. The firm sees procedural hurdles outweighing…
• Geoswift, SKUx Debut Programmable Stablecoin Network (PYMNTS) Geoswift and SKUx launched a programmable stablecoin commerce network, aiming to bridge digital assets with merchant checkout via real-time settlement and embedded spending rules.
• August deadline: CLARITY Act's last chance before 2027 (Crypto news) Bipartisan support, closing calendar: CLARITY Act's fate hinges on Senate floor time before the August recess. Miss it and enactment slips to mid-2027.
• Bank of Thailand Advances 1:1 Baht Stablecoin Plan (Crypto Briefing) Thai central bank's baht stablecoin design study nears completion. Full-reserve requirement, public hearings by year-end, regulations in early 2027. Initial use limited to…

Forex / Commodities

• Infosys, HDFC Bank Lead Monday's Watchlist as Earnings Season Weighs (Economictimes) Infosys (Alpha Score 57), Wipro (46), and HDFC Bank (46) lead Monday's watchlist as earnings season tests whether IT and banking stocks have room to run or more downside ahead.
• Oil Edges Up as Iran Truce Leaves Strait Risk Open (Forex Live) Oil edges up 1% as Iran truce leaves Strait risk open. Tech futures bounce 1.3% ahead of holiday week. Gold slips 1.3% to $4,035. Fed Chair Warsh and payrolls loom.
• Rupee Falls 9 Paise to 94.54 After Iran Tensions Spook Markets (Hindu) The rupee erased an early gain to close at 94.54 after renewed US-Iran hostilities dented risk appetite and reversed positive flows from oil and foreign inflows.
• JPMorgan Keeps Overweight on Aura Minerals, Trims Target to $104 (Yahoo) JPMorgan cut its AUGO target to $104.50 but kept an Overweight rating. The project ramp and gold prices will resolve the gap with AlphaScala's Weak quant score.
• USD Index (Action Forex) The dollar eased from a one-year high on month-end profit-taking but the pullback stayed shallow. Focus shifts to May payrolls. Technical support at 100.60 could define the next…
• Ceasefire Holds, Oil Firms, Yields Rise, Dollar Consolidates (MarcToMarket) Oil climbs back above $69 after US-Iran truce. US 10-year yield bounces from 3-month low. Euro, sterling, yen hold narrow ranges. US jobs data ahead Thursday.
• Mexco Energy Net Income Falls 24% in Fiscal 2026 (Manilatimes) Mexco Energy (MXC) posted a 24% drop in fiscal 2026 net income to $1.3 million as oil prices fell. The Permian Basin driller plans 33 horizontal wells in the current fiscal year.
• Bunker Hill Ships First Concentrate in 45 Years, Faces Ramp-Up Test (Manilatimes) Bunker Hill Mining produced first concentrate from its Idaho mine after 45 years. The next test is reaching commercial production by year-end 2026, which will determine operating…

Smart Money

• Matthew Robert Van Epps (TN): SALE GOOGL
• Matthew Robert Van Epps (TN): SALE AMZN
• Matthew Robert Van Epps (TN): SALE AAPL
• Matthew Robert Van Epps (TN): SALE XOM
• Insider cluster: TSM: 10 insiders bought in last 30 days, net $45K (90d)
• Insider cluster: NKE: 4 insiders bought in last 30 days, net $2.17M (90d)
• Insider cluster: SPG: 3 insiders bought in last 30 days, net $139K (90d)

On the Radar

• Alpha Score top: MU (Micron Technology Inc.), Alpha Score 80/100, top of AlphaScala model. Alpha Score of 80 reflects strong overall profile with strong momentum, moderate value, strong quality, moderate sentiment.
• Alpha Score top: KGC (KINROSS GOLD CORP), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, strong value, strong quality, moderate sentiment.
• Alpha Score top: AKTS (Aktis Oncology, Inc.), Alpha Score 78/100, top of AlphaScala model. Alpha Score of 78 reflects strong overall profile with strong momentum, strong value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
• Alpha Score bottom: BJGPY (Beijing Geekplus Technology Co., Ltd./ADR), Alpha Score 0/100, bottom of AlphaScala model
• Alpha Score bottom: BRAI (Braiin Ltd), Alpha Score 0/100, bottom of AlphaScala model
• COT extreme: New Zealand Dollar (NZD): hedge funds net short 54,844 contracts, 53.1% of open interest
• COT extreme: Canadian Dollar (CAD): hedge funds net short 146,792 contracts, 42.8% of open interest
• COT extreme: Swiss Franc (CHF): hedge funds net short 41,094 contracts, 37.8% of open interest

This Week's Briefings

• Nasdaq: Nasdaq slides 4.4% as AI chip rout hits NVDA; MSFT and AAPL bounce late
• Sp500: SPY drops 2.1% as AI chip rout slams QQQ 4.4%; NVDA Alpha Score weakens
• Bitcoin: Bitcoin drops 5.95% to $60,144 as macro tightening squeezes stablecoin supply
• Crypto: BTC slides 4% alongside gold as QQQ dips just 0.45%; LAB short-squeeze jumps 28%
• Oil: Iran missile strike shoots Brent above $92; Strait of Hormuz risk returns

See you tomorrow before the bell.