Kyle Dennis is a trader & educator at RagingBull.com and owner of Biotech Breakouts. Yeah, here we go another stock trading millionaire selling a newsletter. Biotech Breakouts teaches people how to profit from trading biotech stocks. It’s well known the biotech sector is extremely volatile and unpredictable. Shares can soar or crash solely based on the results of FDA approvals.
Kyle is a former student of Jason Bond and now an instructor at Raging Bull. RagingBull.com are currently under investigation by the FTC for alleged fraud and Kyle has been named as a defendant in the case. As a result of the lawsuit, Biotech Breakouts is on pause and no longer accepting new students. The FTC have made some huge accusations against the company that could potentially put them out of business.
On his website, Mr Dennis claims to have made over $10 million through his “unique background in biotechnology, finance, and technical charting”. Obviously, these types of profits are outrageous but there’s limited proof that this story is 100% true. There are hundreds of traders on the internet taking photos beside rented Porsches, claiming they’ve made millions trading. This is why I’m skeptical no matter how many positive reviews I see.
From browsing through his website, it’s clear he understands how to market himself effectively. In a video on the homepage, he details his journey from heavily indebted college student to millionaire day trader. After graduating from UCLA he had no idea what career he would pursue.
Kyle took a low-paying job as a Real Estate Analyst for $35,000 per year. Sick of the 9-to-5 grind, he turned to stock trading to turn his life around. The first year of trading was rough and decided he needed a mentor to shorten his learning curve. Discovering Jason Bond Picks was cited as a critical turning point. Over the next two years day trading, he made $800,000, enough money to leave his job and trade full-time. Once Kyle surpassed $1 million in profits, Jason Bond awarded him a brand new Porsche as a present for becoming his first millionaire student.
Trading Profits over the last four years:
- 2017 – $1.3 million
- 2018 – $2.4 million
- 2019 – $1.4 million
- 2020 YTD – $3.5 million
Hundreds of beginner traders were keen to learn Kyle Dennis’ “secret” biotech strategies that have made him millions. Because of such high demand, he started an educational service, biotechbreakouts.com. Kyle claims he wants to give back to the community by teaching others how to trade. In reality, Kyle is an entrepreneur and understands there is money to be made selling subscriptions.
Since launching in 2016, thousands of people have signed up. Thousands paying $129 per month is a nice passive income stream. Teaching is hugely lucrative and Kyle is already a self-made millionaire with an estimated net worth of $10 million. Biotechbreakouts.com has three different programs – Sniper Report, Trade With Kyle and Dollar Ace.
The Sniper Report is an “elite trading service” providing high quality trade signals from the man himself. Allegedly only the top 1% of his trades make it into the report and have the power to make over 100% on each trade. For $199 per year you get trade recommendations spammed to your inbox and includes:
- Entry Price Alerts
- Initial Stop & Loss Target Price
- Exit Price Alert
- Daily Trade Updates
- The Reason Behind the Trade
Trade With Kyle
In this service Kyle shares his 3-step process to find trades with massive upside potential weeks before they surge. Trade with Kyle recommendations mainly have 1-4 week holding periods and are more suited for those with full-time jobs.
3-Step Biotech Catalyst Swing Trading Strategy
- The first step is to identify potential catalyst events that will positively impact share prices. These catalysts are typical results of clinical trials for drugs treating various illnesses. You can use BioPharmCatalyst.com to discover hot biotech stocks with big upcoming news.
- The second step is matching this event with a bullish chart pattern in a particular stock.
- The last step is fundamental research to find suitable buy and sell zones based on the risk involved. The ultimate aim is finding situations where the risk-to-reward ratio is favourable. Strong risk management skills are required as mistakes could destroy your trading account. Holding stocks hoping to recover losses is not a good strategy especially in the explosive biotech sector.
Dollar Ace is the options trading program that focuses on option contracts $1 and under that can get you “monumental gains”. Perfect for those with small accounts, Dollar Ace tracks down the biggest winners through a proprietary scanner that finds “insider information”, allowing you to score massive returns regardless of how the market is performing. Reading the sales copy for this page highlights why the FTC is pressing charges. The cost for Dollar Ace is $1,499 per year and a lifetime membership is $2,499.
Biotech Breakouts vs Jason Bond Picks
While Kyle started off as a student of Jason Bond in the Millionaire Roadmap program, he eventually broke away to form his own online business. The structure of Kyle’s service is very similar to Jason Bonds. Both teach via video lessons, chat rooms, webinars, daily watch lists and real-time alerts. Their marketing strategies are identical and charge similar prices. The main difference is Kyle specializes in healthcare stocks while Jason focuses on companies in every industry.
At the bottom of his homepage, there are multiple positive reviews from current subscribers. While this looks great, there is no evidence to suggest that these success stories are real. If you read the disclaimer, it states the testimonials aren’t audited or verified. They could be real but who the hell really knows! It’s difficult to find any honest opinions, all of them seem biased. On trustpilot.com, out of 456 reviews, 88% of customers rated it five stars. I would like to see more honest opinions that weigh the pros and cons.
Kyle’s story appeals to middle class guys in their twenties who can relate to the scenario of being dead-broke after university. The whole purpose of these sales’ techniques is to create a connection with his target market and sell subscriptions. Just because he makes money from teaching it doesn’t make him a scam. There’s nothing wrong with monetizing your knowledge but the prices are insane and complaints are piling up! With the pending FTC lawsuit, it’ll be interesting to see how it impacts Mr Dennis. He might have to pay out a large fine, serve prison time or be banned from selling programs.
Let us know in the comment section if you’ve tried out any of Kyle’s services in the past!