Tim Beyers

So, cracks in the price, but not cracks in the business.

Fair enough.

I mean, look, I think connected TV has changed everything, and logged-in experiences for all entertainment is a big boon for companies like the Trade Desk.

But let's go back to healthcare.

I mean, Carl, Bristol-Myers Squibb.

Bristol-Myers Squibb is one of these companies, by the way, that does not seem like it's been around.

I think people would be shocked about how long it has been around.

Tell me what you think here.

Why is this one a broken breaker?

Is it possible that that multiple expands once we start to see?

Because if I heard you correctly, and I think I did, the idea is that they, I mean, look, they're facing a giant patent cliff, but it's not like they've stopped innovating and they are building a backlog of drugs.

This is the old dog that's cooking up new drugs.

Sorry, I made it sound way too much like Walter White there.

I didn't mean to do that, but you know what I mean.

There's a big backlog here, and if that backlog starts to show promise, that multiple could expand quite quickly.

All right.

So, not just dark clouds, storm clouds.

Fair enough.

I'm going to take Progeny and Progeny ticker PGNY.

I've talked about this before.