Are Prediction Markets Legal? The Kalshi Lawsuit and What It Means for Investors

**Justin Klein** (0:00)
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**SPEAKER_2** (1:13)
This is Invest Talk from KPP Financial, helping investors make sense of the markets one day at a time. Here's your host, Justin Klein.

**Justin Klein** (1:28)
Good afternoon, fellow investors and welcome back to another edition of Invest Talk. This is our Tuesday, August 4th, 2026 edition. We'll have to unpack in this hour another nice move in markets overall. A lot to really look at from the rotation of markets that is getting a little bit of counter trend bounce currently. Will that stick? You have big earnings announcements after hours from the likes of SpaceX and others. And earnings season is slowly winding down.
We're mostly through it. But geopolitical headlines continue to bounce around the market.
And a lot of economic headlines are kind of buried. So we're going to dig into what really matters in markets today and hopefully give you a better sense of what matters. To your particular situation, how to make good decisions by filtering out the noise and focusing on the realities on the ground. That's what we are here to help you with. And we're going to bring you a lot of topics that we think are important, but your topics are the most important. So I encourage you to give me a call at 888-99-CHART. Now, in just a bit, we'll talk about today's Mark Performance and run down the show Topics for the Hour. But as usual, we'll tackle this first call of question now.

**SPEAKER_3** (3:06)
Just a quick question about Modine, MOD.
Just been watching it for a while. I know it peaked a lot of text back in June, and I just wanted to know if it was a good time to get into it now with its recent pullback. We'll be listening on the show. Thank you.

**Justin Klein** (3:25)
All right, looking at Modine Manufacturing, MOD is the symbol. This is the name, the manufacturing cells, heat transfer systems and components for thermal management products.
So as you might know, maybe you don't, but AI data centers produce a lot of heat, running all those chips for hours on end, 24, 7, 365, produces a lot of heat. The heat of the electricity has to go somewhere and it tends to potentially overheat the systems and damage the chips, damage the infrastructure, et cetera. So it's important for heat to transfer away from those those chips so that those products can last longer. So that's where Modine comes in and that's why their business has boomed. They only made $1.23 in 2021, then nearly $2 in 2022, three in chain, three and a quarter in 2023, $4 in 2024, then $5 last year and supposed to make $7.64 and then $11.18 this year.
Now, the stock is at 201
So based on forward-looking earnings, you're talking high-teens multiple, which for companies revenue growth is in the mid to high-teens. I actually think this is a reasonable value. Another reason I'm kind of okay with it is it's market cap. It's about $10 billion, very little debt in their balance sheet, so very clean balance sheet. Now, their free cash flow, it did peak in 2024, or sorry, end of 2023 So beginning of 2020, we're up for about $155 billion. It's cash from operations at $262 million, though, which is an all-time high. So they're obviously spending on manufacturing their own capex to fulfill the demand for the AI space. So I don't necessarily dislike that. They are issuing more shares. They're not buying back shares. I would like to see them do that, especially since they don't pay a dividend. But I do think you are at pretty decent support. It's come down from 320 Now we're at 201, like I said. I think there's another level down to 165, where if you get another like lower, that's probably an area I would probably want to pick this up. This is where it broke out back from the fall last year. So I kind of like the name. I like the business, although the return equity is 13%.