1.5M Users and NASDAQ Ticker Reserved

When Google, Meta, and Microsoft all partner with the same pre-IPO startup, investors pay attention.

But that's not the only reason over 7,000+ pre-IPO retail investors are backing Immersed.

This company is changing the game in AR/VR, developing the Meta Quest store's most popular productivity app. 1.5 million people already use it, many up to 60 hours a week.

Their soon-to-be-released Visor headset has 2M more pixels than Apple's Vision Pro for 70% less cost and weight. No wonder they're projecting $71M in sales.

While their NASDAQ ticker $IMRS is reserved, you have an opportunity to invest pre-IPO in Immersed right now.

Invest Before the Pre-IPO Round Closes

BREAKING NEWS

📉 $406 Million Lost. $871,000 Earned. Do The Math.

$DJT just reported its Q1 2026 earnings. Here are the numbers in plain English. The company lost $406 million in one quarter while bringing in just $871,200 in actual revenue. That is not a typo. The losses are nearly 500 times bigger than the revenue.

Before you panic, most of that loss is not cash walking out the door. The bulk of it came from $244 million in paper losses on Bitcoin holdings and $108 million in investment losses, because the company bought Bitcoin near last summer's peak at around $108,000 per coin and crypto prices fell hard in Q1.

Now the ownership picture. Trump personally owns about 65% of the company. At today's price that stake is worth roughly $1 billion. At the peak of the 2024 euphoria it was worth over $4 billion. He has lost $3 billion on paper since the high. Here is the part that stings for everyday investors though. Insiders got their shares at near-zero cost when the company went public. Retail investors who chased the headlines paid full market price and have absorbed almost all the downside. The stock is down over 85% from its peak. The founders are fine. The people who bought at $60 are not.

📈 The Bull Case:

• Trump Media is merging with TAE Technologies, a nuclear fusion company, in a deal valued at over $6 billion. If that closes, this is a completely different business.

• The company actually generated positive operating cash flow for four consecutive quarters. The underlying operations are not bleeding cash the way the headline number suggests.

• Bitcoin is recovering. Those crypto losses were unrealised, meaning they are paper losses that reverse if Bitcoin climbs back.

📉 The Bear Case:

• The core media business generated $810,000 in advertising and subscription revenue in a full quarter. For context, Reddit made $663 million in the same period. Truth Social is not a real media business.

• The stock is down over 90% from its peak and 32% this year alone. The trend is not friendly.

• A nuclear fusion merger is either visionary or a distraction. The market has chosen the latter, for now.

The Munch Take: This is one of the strangest publicly traded companies in existence. The core business makes almost no money. The balance sheet is loaded with volatile crypto. The CEO just quit. And the company is now pivoting into nuclear fusion. None of that is normal. The crypto losses will reverse if Bitcoin recovers. The fusion deal might actually be interesting. But right now you are buying a social media company that earns less per quarter than a decent restaurant. My wife earns more selling old furniture on Facebook Marketplace. Possibly not by much.

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STOCK OF THE DAY

🍟 The Greatest Brand in Fast Food. The Stock Has Gone Nowhere.

The $1 coffee at McDonald's Canada is the best deal in fast food right now. I buy one every single morning. Clearly, that is not enough to keep this stock afloat.

$MCD is down nearly 17% from its February peak and is now trading at its lowest price since 2024. The stock has gone essentially nowhere in five years while the rest of the market is ripping. That is a painful combination of brand excellence and stock mediocrity.

Here is the thing. The business itself is not broken. Q1 earnings actually beat expectations. Revenue rose 9% to $6.52 billion and global same-store sales grew 3.8%. So why is the stock getting destroyed? The CEO said on the earnings call that the consumer environment is "not improving and may be getting a little worse." With gas at $4.54 a gallon, low-income customers are thinking twice about driving to McDonald's. That is a real problem when your entire value proposition is cheap and convenient.

📈 The Bull Case:

• McDonald's has raised its dividend for nearly 50 consecutive years. That’s incredible. You get paid to wait.

• Of 38 analysts covering the stock, the average price target is around $345. That is roughly 21% upside from where it sits today.

• The brand is genuinely world-class. 40,000 locations. Recognizable in every country on earth. That moat does not disappear because gas is expensive.

📉 The Bear Case:

• Low-income traffic is still declining and the CEO flagged Q2 will be weaker as it faces tough comparisons to last year's Minecraft movie promotion.

• Company-operated restaurant margins are, in the CEO's own words, "not acceptable." That is an unusual level of candour, and it is not bullish.

• Five years of going nowhere while the S&P doubled is not a short-term blip. It is a pattern.

The Munch Take: McDonald's is one of the greatest businesses ever built. The franchise model is a cash machine, the brand is bulletproof, and the dividend has been growing for half a century. But the stock has been a terrible investment for five years and the macro setup is not helping. Gas at $4.54 means the people who love McDonald's most are cutting back on the drive there. My $1 coffee habit is apparently not moving the needle. Maybe I need to go to three coffees a day to help.

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