Kadmon Holdings ($KDMN) – In the latest monstrous rise in share price, Kadmon Holdings popped 71.1% yesterday. Aside from being a meme stock, the only way to see that kind of a pop is an acquisition, and that’s exactly what happened. French pharma company Sanofi will purchase Kadmon for $1.9bn, a sizable premium to their market cap on Tuesday and still $400mm above yesterday’s close. Did somebody say arbitrage?

Constellation Brands ($STZ) – What products could possibly be better to sell than alcohol and weed? Nothing, as proved by Constellation yesterday. Shares rose 3.7% on the day as the firm slowly but surely corrects inventory issues triggered by supply chain woes due to the pandemic. In their presentation at the Barclays Consumer Staples Conference, $STZ showed off their supply chain management skills and broke things down nice and easy by saying “our demand has been outpacing our supply.”

Growth – RIP to the portfolios of all us risk-obsessed degenerates yesterday, as growth names had a tough day. Momentum, volatility, and, of course, growth stocks led U.S. indices downward as investors had a flashback to pre-pandemic reality, where valuations made somewhat sense. Experts say the “unlimited QE” unleashed by the Fed mixed with digital-first daily life during the pandemic are responsible for pushing those largely internet-based growth firms to sky high levels. Now, with both asset purchases and concern over the pandemic fading, the rotation to safety is on.

JPow’s Performance Review – The mac daddy of the U.S financial system is in the hot seat now, with President Joey B’s time to nominate a Fed chair coming up soon in early 2022. While economists and market participants are largely in favor of four more years of JPow’s reign, the non-partisan Fed has become a hugely partisan debate in D.C. Further left-leaning members of Congress want to see the Fed play a role in issues from climate change to racial equality while further right-leaning members are opposed to the extreme money printing done under Powell. As usual in politics, both sides are probably wrong, but at the end of the day, JPow’s job is in big dawg Joey B’s hands.