Buy CAPR by Aug 4, 2028.

Been going through the sub $10 FDA calendar this week and something jumped out that I don't think I've seen this badly since 2022. There are 257 biotechs under $10 with a dated catalyst ahead, 624 catalysts total, 50 of them inside 90 days. Ten of those companies are now trading below the cash sitting on their balance sheet. Not cheap on a DCF, not cheap on some pipeline model. The market is paying less than the bank account, and …