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Stock impact report

Mike Novogratz Says Iran's Hormuz Bluff 'Only Works Once,' But Prediction Markets Disagree [Yahoo! Finance]

Galaxy Digital Inc. - Class A common stock (GLXY) 
Company Research Source: Yahoo! Finance
“You can only bluff people about the Strait of Hormuz once,” the Galaxy Digital CEO said on the All Things Markets podcast with Anthony Scaramucci Gulf States Planning Massive Infrastructure Response Now that markets know Hormuz can be closed and will be closed, Novogratz expects a massive infrastructure buildout in pipelines and potentially even a canal to bypass the chokepoint, in an effort to become “Hormuz-free.” Saudi Aramco has already taken emergency measures, converting its East-West Pipeline to full 7-million-barrel-per-day capacity, rerouting crude from the Gulf coast to Red Sea ports at Yanbu. Don't Miss: Most Americans underestimate what they'll need to retire. Take a quick quiz to see if you're prepared. Explore the Fire-Safe Energy Storage Company With $185M in Contracted Revenue But the existing infrastructure was designed for a short disruption, not a structural rerouting. The UAE's Habshan-Fujairah pipeline runs just 248 miles and carries 1.5 million Show less Read more
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