@spreads_fi

The dips are here... Will the stocks keep ripping back to highs again? What will you do anon? Buy now on Spreads. https://t.co/YeKSOc2iDH

Robinhood is back above $100. On March 30, $HOOD traded at $65.16. That was the 52 week low. 11 weeks later: $107. Up 65%. One of the best performing US stocks since the start of Q2. Why HOOD turned: • Crypto rally pulled trading volume back. Equity and options volumes followed • Bitstamp acquisition closed and integrated. Robinhood now runs one of the oldest crypto exchanges in Europe • Prediction markets product launched and scaled into the election cycle • Robinhood Gold subscribers passed 3 million, recurring revenue keeps growing • Tokenized stocks launched in the EU. Same architecture that powers Spreads xStocks • Q1 earnings beat on revenue and EPS. Margin expansion came earlier than the street modeled • Wealth management and futures rolling out for retirement accounts Why it matters: Robinhood is becoming a full retail financial stack. Spot crypto, equities, options, futures, prediction markets, retirement, debit, savings. The model the market priced as a meme stock business in 2021 has quietly turned into one of the highest growth fintechs on the tape. The comeback isn't priced in yet. The 52 week high is still $152. That's where it was last October. HOOD is on Spreads.

Pharma led this week. Six of the top twelve movers on Spreads were healthcare names. Here's the deeper read on five biotech names worth knowing. $NVO Novo Nordisk. The GLP1 incumbent. • Wegovy and Ozempic franchise • SELECT trial: 20% lower heart attack and stroke risk in non diabetic patients • Oral semaglutide moving to higher doses • CagriSema combination drug as the next gen weight loss candidate • $1T global obesity market, under 5% penetrated • Stock sits well off highs while LLY took the headlines • Classic value rerate setup inside a growth sector $HIMS Hims & Hers. The AI native pharmacy. • Subscription pharma model growing 40 to 50% year over year • AI prescribing flow handles millions of consults at a tenth of clinic cost • Started with ED, now covers weight loss, mental health, hair, derm, hormones, longevity • Compounded GLP1 business proved the unit economics • Becoming the DTC pharma front door for a whole generation $LLY Eli Lilly. The obesity leader. • Mounjaro and Zepbound (tirzepatide) took the lead from NVO • Retatrutide: triple agonist, over 24% weight loss in trials • Orforglipron: oral GLP1 with late stage data coming • Donanemab already approved for Alzheimer's • Largest pharma by market cap • Closest thing to a category killer the sector has $ABBV AbbVie. The post Humira success story. • Replaced Humira revenue with Rinvoq and Skyrizi (rare in pharma) • Deep immunology and oncology pipeline • Allergan aesthetics business adds optionality • Dividend yield north of 3% gives you carry while you wait • Reasonable multiple in a sector finally getting a tailwind $MRK Merck. The oncology king with a setup. • Keytruda is the highest revenue oncology drug ever sold ($30B plus annually) • 2028 patent cliff worry largely priced in • Subcutaneous Keytruda coming for easier dosing • MK1084: KRAS inhibitor for hard to treat cancers • AI designed candidates in early stage trials • Weak stock in 2025 and 2026 with real long term catalysts Five names. One thesis. Rate cuts. AI. Proven GLP1 economics. NVO, HIMS, LLY, ABBV, MRK. All on Spreads.

Last week on Spreads (1 → 8 June): 1. MRVLx +31% - Jensen Huang's trillion-dollar nod 2. ABBVx, LLYx, MRKx, UNHx, JNJx, ABTx - pharma everywhere, is this the beginning of a biotech/pharma rally? 3. JPMx, BACx - big banks bid 4. PGx, WMTx, LINx - staples + industrial gas When the leaderboard tilts this defensive, capital is repositioning behind the headlines.

On Wednesday, the largest quantum computing IPO in history starts trading on Nasdaq. Ticker: QNT (Quantinuum). Target valuation: up to $14.5B. Most retail doesn't know who owns it. Honeywell (HONx on Spreads) owns ~48.1% of Quantinuum post-IPO. That's roughly $7B of quantum exposure already sitting inside a $148B industrial conglomerate and almost nobody is modelling HON that way. The math: · QNT IPO valuation: up to $14.5B · HON's post-IPO stake: 48.1% (Class A + Class B voting power per the S-1) · Implied HON stake value: $7B · HON's current market cap: $148B · So roughly 1 in every 21 dollars of HON's market cap is already a Quantinuum bet Why Quantinuum is the marquee quantum name: · World-record Quantum Volume: 33.5 million orders of magnitude beyond IBM's best published number · Microsoft Azure Quantum's lead hardware partner · Trapped-ion architecture with 99.921% two-qubit fidelity best-in-class · Helios system (Nov 2025): 98 physical qubits, 48 logical qubits Why the math matters: Pure-play quantum names (IONQ, RGTI, QBTS, QUBT) trade at huge revenue multiples on quantum narrative usually with smaller, lower-fidelity hardware. QNT will be the largest, most institutional public quantum company by an order of magnitude. If QNT trades at any premium to its $14.5B IPO price (every recent quantum listing has), HON's stake immediately re-rates even though sell-side still models HON as a boring industrial. HONx is on Spreads. The quantum exposure is already there. Most people just haven't done the math yet.