Short interest for Reddit gives investors a sense of the degree to which investors are betting on the decline of Reddit's stock. Short interest data is updated every two weeks.

Reddit Stock (NYSE:RDDT), Short Interest Report

Reddit

Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.

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A known blockchain advocate, Alexis Ohanian, co-founder of social media platform Reddit Inc. (NYSE:RDDT), highlighted the Democrats who crossed party lines to support a pro-crypto legislation in the Senate Thursday.

Reddit Co-Founder Alexis Ohanian Highlights Democrats, Including Chuck Schumer, Who Crossed Party Line To Support Pro-Crypto Law

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Dow achieved a historic milestone by surpassing 40,000 points. This was the thirteenth positive session out of the last fifteen for blue-chip stocks

Reddit, GameStop, Take-Two Interactive, Applied Materials, Tesla On Investors&#39; Radars As Dow Hits Historic 40K Milestone

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Reddit and OpenAI announced a partnership that will give OpenAI&#39;s ChatGPT access to Reddit threads and enable Reddit users to use new AI-powered features. The two companies will also collaborate on advertising.

Reddit Stock Pops On Partnership With OpenAI: The Details

Reddit Inc

RADIENT TECH INC ORD by Radient Technologies Inc

Radient Technologies Inc

The soaring stock of Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has led to restrictions on single-stock exposure for some investors, potentially forcing them to seek alternative investments.
What Happened: TSMC&#8217;s shares have surged by 42% in Taipei this year, largely due to its dominant position in the production of advanced chips for artificial intelligence, <a href="https://www.bloomberg.com/news/articles/2024-05-16/tsmc-s-42-stock-surge-leads-to-weighting-limits-for-some-funds">reported</a> Bloomberg. 
"The tricky part is that the size of the company is now so big in our benchmark that we cannot meaningfully overweight it, especially funds subject to UCITS which cap single stock exposure to 10%," said Zhikai Chen, head of Asian and Global EM Equities at BNP Paribas Asset Management. "It's prompting us to look at some other names that's currently one or two generations behind TSMC's technology to get more active exposures."
This has made TSMC a popular choice among fund managers. However, due to restrictions on single stock exposure, some funds may have to sell TSMC shares.
UCITS stands for "Undertakings for the Collective Investment in Transferable Securities," which is the regulatory framework set by the European Commission for managing and selling mutual funds within the region. Typically, a UCITS fund restricts investment in any single asset to 10%.
This has prompted investors to consider other companies in the sector, which are currently one or two generations behind TSMC&#8217;s technology, to maintain active exposure.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38839620/bidens-new-tariffs-on-chinese-imports-are-a-clear-giveaway-to-these-two-tesla-rivals-jim-cramer-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden&#8217;s New Tariffs On Chinese Imports Are A &#8216;Clear Giveaway&#8217; To These Two Tesla Rivals, Jim Cramer Says: &#8216;I Like This Policy&#8217;</a>
Why It Matters: TSMC&#8217;s stock surge is attributed to its strong position in the <a href="https://www.benzinga.com/markets/asia/24/05/38808546/key-apple-suppliers-stock-gets-14-upgrades-in-2-weeks-amid-soaring-demand-whats-going-on">AI chip market</a>. The company has seen a surge in analyst upgrades as the demand for AI chips continues to rise.
As many as 14 analysts have upgraded TSMC in the <a href="https://www.benzinga.com/markets/asia/24/05/38808546/key-apple-suppliers-stock-gets-14-upgrades-in-2-weeks-amid-soaring-demand-whats-going-on">past two weeks</a>. The company's stock has witnessed a 35% increase since the start of the year and a 60% rise over the past year.
However, the company has also <a href="https://www.benzinga.com/news/24/05/38842448/taiwan-semi-flags-high-costs-of-asmls-latest-chip-machines">expressed concerns</a> about the high costs of new advanced chip machines, which could impact its future growth. Additionally, the global supply of high-performance memory chips is expected to remain constrained throughout 2024, driven by the soaring demand for AI technology, which could further impact TSMC&#8217;s future performance.
Despite these challenges, TSMC is making significant moves to expand its operations, including the recent announcement of an $11 billion <a href="https://www.benzinga.com/government/24/05/38824316/taiwan-semi-set-to-build-11b-chip-plant-in-germany-aiming-for-2027-production-start">chip plant in Germany</a>, which is expected to start production in 2027.
Price Action: TSM closed Thursday at $152.23, marking a 2.15% decline. Nonetheless, it remains up 49.94% year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. 
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38837557/faraday-future-basking-in-the-glory-of-gamestops-amc-heres-what-ev-makers-100-jump-in-pre-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Faraday Future Basking In The Glory Of GameStop, AMC? Here&#8217;s What EV Maker&#8217;s 100% Jump In Pre-Market Indicates</a>
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Global

Key Apple Supplier TSMC's 42% Stock Surge Prompts Weighting Limits For Some Funds: What You Need To Know

A known blockchain advocate, Alexis Ohanian, co-founder of social media platform Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), highlighted the Democrats who crossed party lines to support a pro-crypto legislation in the Senate Thursday.
What Happened: The U.S. Senate joined the House of Representatives <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">in repealing a controversial SEC directive</a> that would prevent highly regulated financial firms from custodying Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). The legislation was passed by a 2/3rd majority vote.
Interestingly, a dozen Democrats defied the party's hardening anti-crypto stance in supporting the resolution.
Apart from Senate Majority Leader Chuck Schumer (D), Sens. Kirsten Gillibrand (D), Gary Peters (D), Bob Casey (D), Jacky Rosen (D), Jon Tester (D), John Hickenlooper (D), Mark Kelly (D), Cory Booker (D), Ben Ray Luján (D), Ron Wyden (D), and Michael Bennet (D) voted in favor.
Ohanian amplified a post from global cryptocurrency advocacy firm Bankless thanking the 12 Democrats, and pledging his support for the cause of cryptocurrencies in the country.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<a class="twitter-timeline" data-width="500" data-height="750" data-dnt="true" href="https://twitter.com/alexisohanian?ref_src=twsrc%5Etfw">Tweets by alexisohanian</a></div></figure>
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Why It Matters: Ohanian has used public forums to extend his support for cryptocurrencies, even comparing the King Crypto with gold. Ohanian also took an early gamble with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), grabbing 50,000 of them during the asset's presale in 2014.
As far as Reddit was concerned, the social media giant <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37278939/reddit-reveals-bitcoin-ethereum-investment-as-social-giant-files-for-5b-ipo">allocated a part of its excess cash</a> reserves in Bitcoin and Ether. It also purchased Ether and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) to use them to pay for virtual goods.&nbsp;
The company's shares shot up 10% after the market <a href="https://www.benzinga.com/news/24/05/38885171/reddit-stock-pops-on-partnership-with-openai-the-details">on its new partnership with</a> OpenAI, allowing Reddit users to use ChatGPT. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $65,402.52, following a 0.8% pullback in the last 24 hours. Reddit shares were seen trading 11.05% higher in the after-hours session at $62.61 after closing 5.45% lower at $56.38 in regular trading, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Asatur Yesayants on Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38885171/reddit-stock-pops-on-partnership-with-openai-the-details">Reddit Stock Pops On Partnership With OpenAI: The Details</a>

Walt Disney Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and&nbsp;Airbnb, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) have joined forces to offer fans a unique experience. Starting May 24, guests can stay in a recreation of the iconic Edna Mode house from the Pixar film &#8220;The Incredibles.&#8221;
What Happened: On Thursday, Airbnb CEO Brian Chesky took to X, formerly Twitter, and shared some images of this unique experience.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We've created the Incredibles' house <a href="https://t.co/n2G0NxK7cJ">pic.twitter.com/n2G0NxK7cJ</a>
&mdash; Brian Chesky (@bchesky) <a href="https://twitter.com/bchesky/status/1791161877277573576?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here's the listing: <a href="https://t.co/Y6SYrw6qrX">https://t.co/Y6SYrw6qrX</a>
&mdash; Brian Chesky (@bchesky) <a href="https://twitter.com/bchesky/status/1791162151903875394?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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The house, located in Los Angeles near the Sunset Strip, will be open for visits but not overnight stays. Guests will have the opportunity to explore the space and receive a personalized suit consultation.
The house&#8217;s modern exterior reflects the architecture seen in the first &#8220;Incredibles&#8221; film, released in November 2004. The interior features&nbsp;a full rack of Mode&#8217;s&nbsp;signature glasses and a display of the suits she&#8217;s created. The listing is written in Mode&#8217;s distinctive tone.
Why It Matters: The announcement comes after Airbnb <a href="https://www.benzinga.com/news/24/05/38713550/airbnb-q1-earnings-revenue-beat-eps-beat-gross-booking-value-up-12-and-more">reported strong financial results</a> earlier this month. Airbnb saw an 18% year-over-year rise in revenue to $2.14 billion in the first quarter, surpassing the consensus estimate of $2.06 billion. The company attributed its robust revenue growth to sustained travel demand and the Easter timing.
&#8220;Looking ahead to the peak Summer travel season, we are already experiencing robust demand for travel around international events such as the Olympics and Euro Cup. Due in part to the strength of our Summer backlog, we expect year-over-year revenue growth to accelerate in Q3 2024 compared to Q2 2024,&#8221; the company stated at the time.
Photo Courtesy: Shutterstock
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38814718/happy-40-zuckerberg-if-you-invested-1000-in-meta-platforms-stock-when-mark-zuckerberg-turned-30-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Happy 40, Zuckerberg! If You Invested $1000 In Meta Platforms Stock When Mark Zuckerberg Turned 30, Here&#8217;s How Much You&#8217;d Have</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Entertainment

ABNB

Disney and Airbnb Team Up For 'The Incredibles' Experience: Here's A Look Inside And How To Book Your Stay, Shared By Brian Chesky

On Thursday, the Dow Jones Industrial Average achieved a historic milestone by surpassing 40,000 points. This was the thirteenth positive session out of the last fifteen for blue-chip stocks, continuing the bull market that started in October and resulting in a 24% rally. By the end of Thursday&#8217;s trading, the Dow Jones Industrial Average had dipped 0.1% to 39,869.38, the S&amp;P 500 had declined by 0.2% to 5,297.10, and the tech-heavy Nasdaq had decreased by 0.26% to 16,698.32.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>)
Reddit shares closed down 5.45% at $56.38, after hitting an intraday high of $60.46 and a low of $56.29. Notably, the stock popped 11.05% in the after-hours trading. The Reddit stocks&#8217; 52-week high is $74.9 and the low is $37.35. The company announced <a href="https://www.benzinga.com/news/24/05/38885171/reddit-stock-pops-on-partnership-with-openai-the-details">a new partnership</a> with OpenAI, which will give OpenAI's ChatGPT access to Reddit threads and enable Reddit users to use new AI-powered features. The two companies will also collaborate on advertising. 
GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop shares plunged 30.04% to close at $27.67, after hitting an intraday high of $35.24 and a low of $27.59. The stock&#8217;s 52-week high is $64.83 and the low is $9.95. Citron Research founder and short seller Andrew Left revealed that he is once again <a href="https://www.benzinga.com/top-stories/24/05/38880117/exclusive-citron-researchs-andrew-left-is-short-gamestop-again">betting against GameStop</a> with the recent increase in the share price. 
See Also: <a href="https://www.benzinga.com/markets/asia/24/05/38837883/teslas-top-rival-byd-reveals-starting-price-of-hybrid-electric-pickup-in-mexico-launch-yes-its-a-lot?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Top Rival BYD Reveals Starting Price Of Hybrid Electric Pickup In Mexico Launch — Yes, It&#8217;s A Lot</a>
Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>)
Take-Two Interactive shares dropped 1.35% to close at $146.08, after hitting an intraday high of $148.97 and a low of $145.5. The stock&#8217;s 52-week high is $171.59 and the low is $121.72. The company reported its <a href="https://www.benzinga.com/news/earnings/24/05/38883991/take-two-interactive-shares-fall-after-q4-results-fy-2025-outlook">fourth-quarter financial results</a>, beating the $1.299 billion analyst consensus estimate with quarterly sales of $1.399 billion. 
Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)
Applied Materials shares fell 1.53% to close at $214.17, after hitting an intraday high of $218.75 and a low of $213.92. The stock&#8217;s 52-week high is $218.75 and the low is $120.18. The company reported financial <a href="https://www.benzinga.com/news/earnings/24/05/38883690/applied-materials-q2-earnings-revenue-beat-eps-beat-positioned-for-growth-in-ai-evs-clean-energy-an">results for the second quarter</a>, beating the consensus estimate of $6.537 billion with total revenue of $6.646 billion. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose 0.51% to close at $174.87, after hitting an intraday high of $175.79 and a low of $171.43. The stock&#8217;s 52-week high is $299.29 and the low is $138.8. The company has been asked to confront a <a href="https://www.benzinga.com/news/24/05/38871331/tesla-told-to-face-autopilot-lawsuit-in-the-wake-of-safety-probes-report">proposed class-action lawsuit</a> claiming it misled consumers regarding its cars&#8217; self-driving capabilities. 
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/news/24/05/38882423/if-you-made-70-000-when-trump-was-elected-youd-need-90-000-today-to-keep-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Made $70,000 When Trump Was Elected, You&#8217;d Need $90,000 Today To Keep Up</a>
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Reddit, GameStop, Take-Two Interactive, Applied Materials, Tesla On Investors' Radars As Dow Hits Historic 40K Milestone

London Mayor Sadiq Khan has publicly denounced Donald Trump, labeling him as racist, sexist, and homophobic. Khan is calling on his Labour Party to adopt a firmer position against the potential second-term U.S. President.
What Happened: Khan&#8217;s apprehensions about Trump&#8217;s possible re-election. Despite Labour&#8217;s recent efforts to foster diplomatic relations with key Republicans, Khan&#8217;s criticism of Trump remains steadfast, <a href="https://www.politico.eu/article/sadiq-khan-donald-trump-racist-labour-call-him-out-united-kingdom/">reported</a> Politico.
&#8220;He's a racist. He's a sexist. He's a homophobe. And it's very important, particularly when you've got a special relationship, that you treat them as a best mate,&#8221; said Khan on the ex-president.
"If my best mate was a racist, or a sexist or a homophobe, I'd call him out and I'd explain to him why those views are wrong."
The London Mayor said, &#8220;I worry about a Donald Trump presidency.&#8221;
Khan, who enjoys greater liberty to voice his opinions, told Politico that Trump&#8217;s actions and behavior are not misunderstood. He stressed the need to call out unacceptable behavior, even if it emanates from a close ally like the U.S.
See Also: <a href="https://www.benzinga.com/news/24/05/38808903/elon-musk-says-the-more-unfair-attacks-on-trump-seem-the-higher-he-will-rise-in-polls-after-gop-hous?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says The More Unfair Attacks On Trump Seem &#8216;The Higher He Will Rise In Polls&#8217; After GOP House C</a>
While Khan acknowledges the potential necessity of collaborating with a possible second Trump administration, he expressed his concerns about a Trump presidency and its potential impact on international relations.
Khan and Trump have a history of public disputes, which began in 2015. The London Mayor, fresh off his third consecutive win, continues to openly criticize the U.S. President.
Why It Matters: Trump recently made <a href="https://www.benzinga.com/news/24/05/38603980/trump-says-london-paris-no-longer-recognizable-we-cant-let-that-happen-here">controversial comments</a> about London and Paris. He said the two European cities were becoming "unrecognizable" due to their acceptance of "jihad.&#8221; 
Trump&#8217;s also commented about <a href="https://www.benzinga.com/news/24/04/38135314/trump-wants-immigrants-from-nice-countries-like-denmark-and-switzerland-over-nations-that-are-a-disa">preferring immigrants</a> from "nice" countries like Denmark and Switzerland over nations he described as a &#8220;disaster&#8221; further fueled the conflict.
The former president has also accused his successor Joe Biden of <a href="https://www.benzinga.com/news/24/03/37499694/trump-accuses-biden-of-plotting-to-collapse-the-american-system-amid-immigration-rhetoric-surge">plotting to &#8220;collapse the American system</a>&#8221; amid a surge in anti-immigration rhetoric.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38836381/anthony-scaramucci-says-trump-may-campaign-with-ankle-bracelet-from-mar-a-lago-as-former-white-house?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Trump May Campaign With Ankle Bracelet From Mar-A-Lago As Former White House Aide</a>
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 Shivdeep Dhaliwal</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
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Politics

General

London Mayor Worried About Second Trump Presidency: 'He's A Racist. He's A Sexist. He's A Homophobe'

Renowned investor Stanley Druckenmiller has significantly reduced his stake in NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), indicating a shift in his investment strategy.
What Happened: Druckenmiller&#8217;s Duquense Family Office sold off 441,551 shares of Nvidia in the first quarter, amounting to a 72% reduction in his holdings, according to a 13F filing with the Securities and Exchange Commission, <a href="https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-trims-nvidia-stake-copper-exposure-13f-q1-duquense-2024-5">reported</a> Business Insider. 
Despite the significant reduction, Nvidia remains the seventh-largest position in the portfolio, with a value of approximately $159 million.
Druckenmiller also liquidated all of his call options in Nvidia, which were acquired in the previous quarter for a total value of about $242 million. This move was likely another significant win, given Nvidia&#8217;s 82% surge in the first quarter to record highs.
Druckenmiller&#8217;s other significant trades include a $664 million investment in small-cap stocks through call options on the Russell 2000. This position is Duquense&#8217;s largest, followed by its holdings in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) valued at $468 million and South Korean e-commerce firm Coupang Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), worth approximately $400 million.
Another notable trade was Druckenmiller&#8217;s near-tripling of his position in copper miner Freeport McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), now valued at about $65 million. This could indicate a bullish outlook on the broader U.S. economy.
See Also: <a href="https://www.benzinga.com/government/24/05/38781945/chuck-schumer-says-trump-might-be-hosting-dinners-for-big-oil-execs-but-ftc-should-side-with-consume?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Might Be &#8216;Hosting Dinners For Big Oil Execs&#8217; But FTC Should Side With Consumers On $53B Chevron-Hess Merger</a>
Why It Matters: Druckenmiller&#8217;s decision to reduce his Nvidia stake comes at a time when the company&#8217;s future is being questioned. A recent <a href="https://www.benzinga.com/markets/equities/24/05/38863095/nvidia-stock-faces-decline-in-coming-years-as-ai-chip-demand-softens-warns-analyst-were-looking-">warning from an analyst</a> suggests that Nvidia&#8217;s stock might not be able to sustain its recent rise due to a potential decline in demand for its GPUs.
Druckenmiller&#8217;s move also follows a similar decision by his former boss, George Soros, who <a href="https://www.benzinga.com/top-stories/24/05/38679782/george-soros-ex-employee-just-sold-a-large-nvidia-stake-druckenmiller-says-it-was-a-hell-of-a-run">sold a large portion</a> of his Nvidia stake, citing the AI revolution as having progressed too rapidly.
Despite these concerns, Nvidia&#8217;s stock has been on a <a href="https://www.benzinga.com/trading-ideas/24/05/38569426/nvidias-roller-coaster-ride-through-early-2024-sets-the-stage-for-a-potential-market-shakeup-as-inv">roller-coaster ride</a> in 2024, experiencing a 96% bull rally in the first quarter. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38818809/meme-stock-surge-bothers-former-sec-chair-as-gamestop-amc-shares-rise-nearly-80-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Stock Surge &#8216;Bothers&#8217; Former SEC Chair As GameStop, AMC Shares Rise Nearly 80% On Tuesday: &#8216;A Lot Closer To Gambling…Certainly Not Investing&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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CPNG

MSFT

NVDA

Stanley Druckenmiller Sells Off 72% Of Nvidia Stake, Bets Big On These Type Of Stocks

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has announced a groundbreaking set of accessibility features that will allow users to control iPhones and iPads with their eyes.
What Happened: On Thursday, Apple CEO&nbsp;Tim Cook&nbsp;took to X, formerly Twitter, and unveiled the new accessibility features, including eye tracking, which uses artificial intelligence to help people with physical disabilities navigate iOS and iPadOS more easily.
These features are expected to be integrated into iOS and iPadOS 18, with the official release date set for later this year, just ahead of the Worldwide Developers Conference or WWDC event in June.
Other features include &#8220;music haptics,&#8221; which uses the iPhone&#8217;s Taptic Engine to create vibrations in sync with Apple Music tracks, and a motion sickness reduction feature for users who experience discomfort when using their devices in moving vehicles.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38814718/happy-40-zuckerberg-if-you-invested-1000-in-meta-platforms-stock-when-mark-zuckerberg-turned-30-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Happy 40, Zuckerberg! If You Invested $1000 In Meta Platforms Stock When Mark Zuckerberg Turned 30, Here&#8217;s How Much You&#8217;d Have</a>
These new accessibility options are&nbsp;designed to work across iOS&nbsp;and iPadOS apps without the need for additional hardware or accessories. The company also plans to introduce vocal shortcuts and a &#8220;Listen for Atypical Speech&#8221; feature, which&nbsp;uses machine learning to recognize&nbsp;unique speech patterns.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For nearly 40 years, Apple has worked to make technology more accessible to everyone. We're thrilled to announce powerful new features that provide users with even more ways to communicate, control their devices, and enjoy the music they love. <a href="https://twitter.com/hashtag/GAAD?src=hash&amp;ref_src=twsrc%5Etfw">#GAAD</a> <a href="https://t.co/09qVLxA0rg">https://t.co/09qVLxA0rg</a>
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1791176745577746853?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This move comes shortly after the company&#8217;s&nbsp;<a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">second-quarter earnings beat</a>&nbsp;muted forecasts, with a year-over-year revenue decline. The introduction of these features could potentially attract a new segment of users and contribute to the company&#8217;s future growth.
Apple&#8217;s focus on accessibility also aligns with its latest product launches, such as the&nbsp;<a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">new iPad Pro and iPad Air 6</a>, which aim to provide more powerful and versatile options for users.
Moreover, the incorporation of AI and machine learning in these accessibility features further supports the prediction that Apple&#8217;s upcoming software platforms will <a href="https://www.benzinga.com/news/24/03/37950220/apples-wwdc-2024-event-to-be-generative-ai-launch-party-predicts-gene-munster">heavily feature AI-powered capabilities</a>.
Photo courtesy: Shutterstock
Check out more of&nbsp;Benzinga's&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38806678/elon-musk-shrugs-off-openais-latest-announcement-after-x-user-says-that-99-of-the-economy-will-be-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shrugs Off OpenAI&#8217;s Latest Announcement After X User Says That 99% Of The Economy Will Be AI Chatbots Talking To Each Other: &#8216;Not At This Ridiculously Slow Bit Rate&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

AAPL

Tim Cook Touts 'Powerful New Features' As Apple Introduces Ways For Users To Control iPhones By Simply Moving Their Eyes

Leading cryptocurrencies witnessed a correction Thursday, even as the Senate followed the House in passing a pro-crypto legislation.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.31%</td>
<td>$65,411.27</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>-2.80%</td>
<td>$2,945.89</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-4.15%</td>
<td>$0.1498</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin gave some of its gains clocked during the relief rally the previous day as it sank below %66,000. The second-largest cryptocurrency, Ethereum, also fell below the $3,000 zone.
The pullback caused $119 million worth of futures positions to be wiped out in the last 24 hours, with long liquidations accounting for $83 million. Bitcoin led the pack with more than $31 million in liquidations.
The drop also led to an increase in traders betting on Bitcoin's price decline vis à vis those bullish on the crypto, as evidenced by a drop in Longs/Shorts Ratio.
On an otherwise good day for the industry, the U.S. Senate passed legislation overturning SEC's controversial rule preventing highly regulated financial firms from custodying Bitcoin, a week after the House of Representatives voted in favor. 
The market may be reacting to the potential of President Joe Biden vetoing the resolution, as he previously threatened.&nbsp;
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Chainlink (FLOKI)</td>
<td>+12.58%</td>
<td>$15.60</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>+10.89%</td>
<td>$1.89</td>
</tr>
<tr>
<td>Ondo (ONDO)</td>
<td>+4.56%</td>
<td>$0.8793</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap fell 1.57% to $2.36 trillion over the past 24 hours.
Stocks closed lower Thursday, even though some blue-chip indices briefly rose to their all-time highs . The Dow Jones Industrial Average fell 38.62 points, or 0.10%, to close at 39,869.38, after crossing 40,000 for the first time earlier in the day. The S&amp;P 500 ended at 5,297.10, following losses of 0.21%. The tech-heavy Nasdaq Composite dropped by 44.07 points, or 0.26%, to finish at 16,698.32.
Earlier in the day, Richmond Federal Reserve Tom Barkin told CNBC that though the inflation data has been encouraging, it"ll take a bit more time to align with the central bank's goal of 2% inflation.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: On-chain analytics firm Santiment remarked that the rise in stablecoin market caps could validate the possibility of a sustained uptrend in the market.
"Pay attention to which direction these marketcaps go from here, as they will likely help foreshadow whether Bitcoin pushes toward a new AllTimeHigh or takes another lap below $60K," Santiment informed
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4ca; With <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> prices back on the rise, a good validation that this bounce may continue would be if <a href="https://twitter.com/hashtag/stablecoin?src=hash&amp;ref_src=twsrc%5Etfw">#stablecoin</a> marketcaps resume the growth they saw from mid-October to mid-April. During that stretch, the combined caps of <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a>, <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a>, <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAI</a>, <a href="https://twitter.com/search?q=%24BUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BUSD</a>, <a href="https://twitter.com/search?q=%24USDP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDP</a>, and <a href="https://twitter.com/search?q=%24TUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TUSD</a> soared by… <a href="https://t.co/yNJhsczEbk">pic.twitter.com/yNJhsczEbk</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1791189262186185105?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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</figure>
Well-followed analyst, Kevin, noted that with Bitcoin's rise, altcoin holders have started to rotate capital into the King Crypto.
"This is very very bullish overall as it provides evidence to us that we're entering into stage 3 of the bull market. Still need more data but looking really good right now," the analyst stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> holders are capitulating into <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> just as we expected with the current rise in dominance. This is very very bullish overall as it provides evidence to us that we're entering into stage 3 of the bull market. Still need more data but looking really good right now.
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1791119900318064796?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Photo by Avi Rozen on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">Senate Votes To Overturn Controversial SEC Crypto Rule, But Will Biden Veto It?</a>

Trading Ideas

$DOGE

Bitcoin, Ethereum, Dogecoin Witness Pullback After Strong Rally: Analyst Says Stablecoin Growth Key To Bitcoin Hitting New All-Time Highs

To enhance data privacy for educators and students,&nbsp;Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google is set to introduce its Gemini AI to schools. The tech giant has assured that it will not use the&nbsp;data for AI model training&nbsp;or share it with any third parties.
What Happened: Google will integrate the additional Gemini data privacy protections into&nbsp;Workspace for Education accounts at&nbsp;no extra cost. However, this means&nbsp;relying on the older Gemini&nbsp;1.0 Pro model instead of&nbsp;newer, more updated models like&nbsp;Gemini 1.5 Pro or Flash,&nbsp;which are&nbsp;designed to provide more accurate&nbsp;answers, <a href="https://www.theverge.com/2024/5/16/24158484/google-gemini-ai-workspace-education-school-privacy-accessibility-chromebook">reported</a> The Verge.
The Gemini for Google Workspace will be launched on May 23 and will be available&nbsp;in two packages for institutions.&nbsp;The first is the lower-cost&nbsp;Gemini Education, which has a&nbsp;monthly usage limit, and the&nbsp;second tier is Education Premium, which offers&nbsp;full access to Workspace AI&nbsp;tools and&nbsp;additional features like AI notes/summaries for Google Meet and data loss prevention.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38867599/tim-cook-hyped-thinnest-apple-product-ever-at-recent-ipad-event-but-cupertinos-newest-gadget-flunks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tim Cook Hyped &#8216;Thinnest Apple Product Ever&#8217; At Recent iPad Event, But Cupertino&#8217;s Newest Gadget Flunks Durability Test In &#8216;Catastrophic Failure&#8217;</a>
Additionally, Chromebooks, which are popular in the education sector, will receive new accessibility features in the coming months. The&nbsp;Screen magnifier on Chromebooks will&nbsp;gain the ability to follow&nbsp;along with the words as&nbsp;they are read&nbsp;out loud when used in&nbsp;combination with Select to Speak.&nbsp;Users can also&nbsp;make the cursor bigger and&nbsp;turn off the blinking text&nbsp;indicator.
Why It Matters: The introduction of the Gemini AI model for schools comes after Google announced the&nbsp;<a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">new Gemini models</a>&nbsp;at the Google I/O 2024. The tech giant has previously revealed that over one and a half million developers are using Gemini to build and debug code, get insights, and build AI applications.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Last month,&nbsp;Alphabet CEO Sundar Pichai&nbsp;expressed <a href="https://www.benzinga.com/news/24/04/38450195/alphabet-ceo-sundar-pichai-lauds-progress-despite-controversies-surrounding-google-gemini-developer">satisfaction with the development</a> of the company&#8217;s Gemini AI despite <a href="https://www.benzinga.com/news/24/02/37258050/elon-musk-pushes-xais-grok-ai-chatbot-after-google-gemini-comes-under-fire-truth-never-been-more-ess">controversies surrounding the</a> chatbot. He highlighted the significant advancements made in the development of the Gemini AI and other models during the company&#8217;s first-quarter earnings call.
&#8220;We are also pleased with the progress we are seeing with Gemini and Gemini Advanced through the Gemini app on Android and the Google app on iOS,&#8221; he said at the time.
Photo Courtesy: Shutterstock.com
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38873639/elon-musk-reacts-after-doge-designer-says-meta-would-be-trillionaires-by-now-if-they-had-a-dollar-fo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Doge Designer Says Meta &#8216;Would Be Trillionaires By Now&#8217; If They Had A Dollar For Every Child Safety Investigation</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Media

GOOG

GOOGL

Google Seeks To Repeat Chromebook Success In Education By Rolling Out 'Gemini' AI For Schools, Promises Enhanced Data Privacy

Rep. Nancy Pelosi (D-Calif.), the former speaker of the House of Representatives, has publicly urged the World Health Organization to reinstate Taiwan&#8217;s observer status in the upcoming World Health Assembly.
What Happened: In a post on X, formerly Twitter, on Thursday, Pelosi expressed her strong support for Taiwan&#8217;s meaningful participation in global health collaboration. She emphasized that reinstating Taiwan&#8217;s observer status would benefit not only Taiwan but also the world, leveraging Taiwan&#8217;s capabilities and expertise.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Taiwan is a flourishing democracy, which has demonstrated exceptional governance in response to global challenges from security to COVID to clean energy.  It is cowardly that Beijing continues to seek to isolate Taiwan from the rest of the free world.
&mdash; Nancy Pelosi (@SpeakerPelosi) <a href="https://twitter.com/SpeakerPelosi/status/1791255498819567766?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/05/38882423/if-you-made-70-000-when-trump-was-elected-youd-need-90-000-today-to-keep-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Made $70,000 When Trump Was Elected, You&#8217;d Need $90,000 Today To Keep Up</a>
Pelosi praised Taiwan as a flourishing democracy, highlighting its exceptional governance in response to global challenges, including security, COVID, and clean energy.
She said, &#8220;It is cowardly that Beijing continues to seek to isolate Taiwan from the rest of the free world.&#8221;
Why It Matters: Taiwan&#8217;s participation in the WHO&#8217;s annual assembly has been uncertain despite the <a href="https://www.benzinga.com/news/24/05/38574814/us-backs-taiwans-who-assembly-participation-amid-chinas-objections">United States&#8217; support</a>. China&#8217;s objections, based on its claim over Taiwan as its territory, have been a significant hurdle. Taiwan had observer status at the World Health Assembly from 2009 to 2016, but China blocked Taiwan&#8217;s participation after President Tsai Ing-wen assumed office in 2017.
Pelosi, a longtime critic of China and a human rights advocate, has previously <a href="https://www.benzinga.com/news/22/08/28325252/nancy-pelosi-says-we-come-in-peace-and-wont-abandon-taiwan-as-chinese-jets-invade-taipei">expressed her support</a> for Taiwan. During a high-stakes visit to Taiwan in 2022, she made it &#8220;unequivocally clear&#8221; that the U.S. would not &#8220;abandon&#8221; the island. Beijing reacted to her visit by dispatching warships and military aircraft to the waters surrounding the self-ruled island.
Photo By Gage Skidmore Via Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/news/24/05/38822521/michael-cohens-testimony-wins-over-political-experts-this-is-the-day-that-donald-trump-looked-most-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Cohen's Testimony Wins Over Political Experts: ‘This Is The Day That Donald Trump Looked Most Lik</a>
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Nancy Pelosi Presses For Reinstatement Of 'Observer' Status At WHO For Taipei: 'Cowardly That Beijing Continues To Seek To Isolate Taiwan'

On Thursday, Rep. Thomas Massie (R-Ky.) introduced a bill aimed at abolishing the Federal Reserve, following a poll of his followers on X, formerly Twitter.
What Happened: The Kentucky Republican announced the introduction of the &#8220;End the Fed&#8221; bill, officially known as the Federal Reserve Board Abolition Act, HR 8421. Massie stated, &#8220;Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just introduced "End the Fed"   Title: Federal Reserve Board Abolition Act, HR 8421 Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation.<a href="https://t.co/JWSaCssAJB">https://t.co/JWSaCssAJB</a> <a href="https://t.co/z8IDQ139Yc">pic.twitter.com/z8IDQ139Yc</a>
&mdash; Thomas Massie (@RepThomasMassie) <a href="https://twitter.com/RepThomasMassie/status/1791216728728346721?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/05/38863297/marjorie-taylor-greene-ally-thomas-massie-polls-x-users-on-whether-he-should-introduce-a-bill-to-abo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Ally Thomas Massie Polls X Users On Whether He Should Introduce A Bill To Abolish</a>
Prior to this announcement, Massie had <a href="https://www.benzinga.com/news/24/05/38863297/marjorie-taylor-greene-ally-thomas-massie-polls-x-users-on-whether-he-should-introduce-a-bill-to-abo">conducted a poll</a> among his nearly 780,000 followers on whether he should propose a bill to abolish the Federal Reserve. At the conclusion of the poll, an overwhelming 86.6% of Massie&#8217;s nearly 115,000 voters said the wanted to &#8220;End the Fed&#8221; while 2.8% voted in favor of keeping the institution intact.
Why It Matters: The Federal Reserve Board Abolition Act, aims to dismantle the Federal Reserve System by abolishing its Board of Governors and banks, and repealing the 1913 Federal Reserve Act. Highlighting the impact of the Fed&#8217;s policies, Massie stated, &#8220;Americans are suffering under crippling inflation, and the Federal Reserve is to blame,&#8221; according to a statement seen by Benzinga.
The introduction of this bill follows a period of heightened concern about inflation in the United States. In April, U.S. inflation data came in line with analyst estimates, breaking a <a href="https://www.benzinga.com/markets/equities/24/05/38842603/us-inflation-falls-as-expected-in-april-bolsters-fed-rate-cut-bets">three-month streak</a> of higher-than-expected readings. This reignited hopes for a return to the Federal Reserve's 2% inflation target. However, Massie&#8217;s bill suggests a more drastic approach to addressing these economic concerns.
Notably, Massie <a href="https://www.benzinga.com/news/24/04/38284071/marjorie-taylor-greene-bid-to-oust-speaker-mike-johnson-joined-by-thomas-massie-its-a-clusterf-k">aligned</a> with Rep. Marjorie Taylor Greene (R-Ga.) in her efforts to unseat House Speaker Mike Johnson (R-La.) recently.
Photo via Shutterstock
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38836000/macro-guru-raoul-pal-says-fresh-gamestop-led-meme-stock-frenzy-has-nothing-to-do-wi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Macro Guru Raoul Pal Says Fresh GameStop-Led Meme Stock Frenzy Has Nothing To Do With Interest Rates: &#8216;Clock Is Ticking On The 25-40-Year-Olds&#8217;</a>
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Economics

Marjorie Taylor Greene Ally Thomas Massie Introduces 'End The Fed' Bill To Abolish The US Central Bank: 'Americans Are Suffering Under Crippling Inflation'

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Are you intrigued by the idea of camping but can&#8217;t quite commit to the whole sleeping-on-the-ground thing? Well, let&#8217;s talk glamping! It's like camping's cooler, comfier cousin, where you get to snuggle into real beds and enjoy some home comforts, all while soaking in the beauty of nature. 
Glamping offers a luxurious twist on the traditional camping experience, blending the rustic charm of the wild with the comforts of a cosy cabin or a well-appointed tent. It's the perfect compromise for a family getaway. 
Here are six premium glamping destinations across the US that promise loads of fun for the whole family!
<h3 class="wp-block-heading">1. Huttopia</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114455/glamping-in-the-US-1-1024x575.jpeg" alt="At all Huttopia locations, you'll find tents and cabins equipped with electricity, bathrooms, and kitchenettes. Image: Huttopia" class="wp-image-339793" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114455/glamping-in-the-US-1-1024x575.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114455/glamping-in-the-US-1-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114455/glamping-in-the-US-1-768x431.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114455/glamping-in-the-US-1.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">At all Huttopia locations, you&#8217;ll find tents and cabins equipped with electricity, bathrooms, and kitchenettes. Image: Huttopia</figcaption></figure>
With sites in the Adirondacks, Paradise Springs in California, Southern Maine, the White Mountains of New Hampshire, and California&#8217;s Wine Country, Huttopia blends into the natural surroundings of forests, lakes, and ponds. You&#8217;ll find tents and cabins equipped with electricity, bathrooms, and kitchenettes. To sweeten the deal, each location boasts a swimming pool, an on-site bistro and cafe, and tons of family-friendly activities.
<h3 class="wp-block-heading">2. AutoCamp</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114656/glamping-in-the-US-2-1024x576.jpeg" alt="Each AutoCamp site features a Clubhouse with lounge and work spaces, board games, a kitchen, a general store, free bikes and a lot more. Image: AutoCamp" class="wp-image-339800" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114656/glamping-in-the-US-2-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114656/glamping-in-the-US-2-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114656/glamping-in-the-US-2-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114656/glamping-in-the-US-2.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">AutoCamp sites feature a Clubhouse with lounge and work spaces, board games, a general store, free bikes and more. Image: AutoCamp</figcaption></figure>
AutoCamp invites you to stylish Airstreams, luxury tents, and cabins at nine US locations, including Asheville, Cape Cod, the Catskills, and more. A family recently enjoyed their stay at Zion AutoCamp, fitting all their baby essentials comfortably. The clubhouse at each site offers lounge spaces, games, a kitchen, a general store, free bikes, WiFi, and coffee, making every family&#8217;s stay a breeze.
<h3 class="wp-block-heading">3. Desolation Hotel Hope Valley</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114833/glamping-in-the-US-3-1024x576.jpeg" alt="This site, originally known as Sorensen's Resort, offers 28 cabins to choose from. Image: Desolation Hotels" class="wp-image-339805" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114833/glamping-in-the-US-3-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114833/glamping-in-the-US-3-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114833/glamping-in-the-US-3-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15114833/glamping-in-the-US-3.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">This site, originally known as Sorensen&#8217;s Resort, offers 28 cabins to choose from. Image: Desolation Hotels</figcaption></figure>
In South Lake Tahoe, the eco-conscious Desolation Hotel offers a delightful glamping experience. With 28 cabins and luxe yurts outfitted with high-end kitchen appliances and custom furnishings. Guests enjoy amenities like a wood-fired sauna, telescopes for stargazing, fire pits, and lawn games, with seasonal outdoor gear available for adventurous spirits.
<h3 class="wp-block-heading">4. Beverly Wilshire</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115610/glamping-in-the-US-4-1024x576.jpeg" alt="For those who think a five-star hotel is roughing it, the Beverly Wilshire Hotel offers a glamorous rooftop tenting experience. Image: Four Seasons" class="wp-image-339825" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115610/glamping-in-the-US-4-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115610/glamping-in-the-US-4-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115610/glamping-in-the-US-4-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115610/glamping-in-the-US-4.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">For those who think a five-star hotel is roughing it, the Beverly Wilshire Hotel offers a glamorous tenting experience. Image: Four Seasons</figcaption></figure>
For those who equate camping with luxury, the Beverly Wilshire Hotel presents an unforgettable urban glamping setup on its rooftop. Complete with a chandelier and a sumptuous Four Seasons bed overlooking Rodeo Drive, this spot offers an exclusive escape with gold-dusted s&#8217;mores and vintage Champagne.
<h3 class="wp-block-heading">5. The Vintages Trailer Resort</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115746/glamping-in-the-US-5-1024x576.jpeg" alt="The Vintages Trailer Resort offers Airstream glamping in Oregon's Willamette Valley. Image: The Vintages Trailer Resort" class="wp-image-339836" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115746/glamping-in-the-US-5-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115746/glamping-in-the-US-5-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115746/glamping-in-the-US-5-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115746/glamping-in-the-US-5.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Vintages Trailer Resort offers Airstream glamping in Oregon&#8217;s Willamette Valley. Image: The Vintages Trailer Resort</figcaption></figure>
This unique resort features 36 exquisitely restored vintage trailers decked out with fine linens, local wines, and specialty coffee. Each trailer boasts modern amenities like flat-screen TVs with Roku and outdoor soaking tubs. Set along a beautifully lit tree-lined road, the resort recently added a full-sized heated outdoor pool to its attractions.
<h3 class="wp-block-heading">6. Camp Long Creek</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115844/glamping-in-the-US-6-1024x576.jpg" alt="Camp Long Creek offers luxurious glamping accommodations on the banks of Table Rock Lake. Image: Big Cedar Lodge" class="wp-image-339840" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115844/glamping-in-the-US-6-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115844/glamping-in-the-US-6-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115844/glamping-in-the-US-6-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15115844/glamping-in-the-US-6.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Camp Long Creek offers luxurious glamping accommodations on the banks of Table Rock Lake. Image: Big Cedar Lodge</figcaption></figure>
Just minutes from Big Cedar Lodge, Camp Long Creek offers serene glamping by the shores of Table Rock Lake. Enjoy luxury accommodations with king-size beds, outdoor tubs, and fire pits. Each family unit includes a kid-sized tent in the courtyard. With its own pool, marina, and Airstream food truck, you might find all the fun you need without ever leaving the site, although the main property's amenities are just a stone&#8217;s throw away.

Travel

6 US Glamping Spots That Offer Tons Of Family Fun Without Skimping Those Hotel Comforts

Former Trump lawyer Michael Cohen was back on the stand Thursday, marking his third day of testimony in a criminal trial against former President Donald Trump <a href="https://www.benzinga.com/general/politics/24/04/38251447/trump-hush-money-trial-preview-key-witnesses-2024-campaign-impact-prison-time-trump-could-face-i">alleging falsified business records.</a>
Here's what Cohen said in court Thursday.
What Happened: Cohen testified throughout the week <a href="https://www.benzinga.com/general/politics/24/05/38803382/trumps-erstwhile-lawyer-testifies-to-former-presidents-involvement-in-hush-money-payment-dont-wo">connecting hush money payments</a> made to adult actress Stormy Daniels being ordered and facilitated by Trump.
On Thursday, Trump's defense attorneys tried to paint Cohen as a liar and criminal in a potential attempt to dissuade the jury from his testimony, as <a href="https://www.nbcnews.com/politics/donald-trump/live-blog/trump-hush-money-trial-day-18-michael-cohen-live-updates-rcna151900">shared </a>by NBC News.
In a potential win for the defense, Cohen testified Trump was initially worried about the alleged affair with Karen McDougal was set to come out. Cohen said Trump was anxious about his wife and children being hurt by the story.
This could undermine the prosecution's notion in the case that the hush money payments were made to impact the 2016 presidential election.
Cohen was questioned about his relationships with several members of the media. The former Trump lawyer said he was pitched stories by journalists often and would take the ideas to Trump before responding. Cohen said this was a best practice of checking with Trump over just speaking freely with reporters for two reasons.
The former Trump lawyer said he did not ask for a pardon from Trump, but had expressed interest to his lawyer to look into the matter.
"One, it would cause him to blow up at me, and two, it would probably be the end of my job," Cohen said.
Trump's attorney Todd Blanche also tried to paint Cohen as a revenge seeker in the trial after not receiving a role in the White House when Trump was elected. Cohen said previously in testimony that he was hurt not being asked to be involved after the election in the White House. &nbsp;
Cohen said Thursday that ABC offered cash for Daniels' story. Daniels' former lawyer said earlier in the trial that ABC offered the adult actress a post on "Dancing With the Stars" previously.
Cohen also shared Thursday that the nondisclosure agreement with Daniels was never signed by Trump.
Related Link: <a href="https://www.benzinga.com/news/24/05/38822521/michael-cohens-testimony-wins-over-political-experts-this-is-the-day-that-donald-trump-looked-most-l">Michael Cohen&#8217;s Testimony Wins Over Political Experts: &#8216;This Is The Day That Donald Trump Looked Most Like A Criminal&#8217;</a>
 What's Next: Cohen will take the stand again on Monday for cross-examination. The trial will not be in session Friday due to Trump attending his son Barron's high school graduation.
Blanche said his plan is to finish with Cohen&#8217;s examination on Monday before the morning break.
Trump's lawyer would not rule out calling Trump or a mystery witness to the stand on Tuesday.
The multi-week trial began with jury selection April 15 and could last until the end of May, something that Judge Juan Merchan stressed in speed of getting through items on Thursday. Merchan mentioned starting earlier and ending later on some upcoming days.
Similar to other days in the trial this week, Trump was joined by several key supporters including Rep. Matt Gaetz (R-Fla.) and Rep. Lauren Boebert (R-Colo.).
Ahead of Thursday's day in court, Trump again lashed out at the criminal trial being unneeded with "no case, no crime."
"It's a shame what they're doing, what they're doing in terms of suppression and election interference has never been anything like that," Trump said.
Trump told reporters that the trial was "unfair" and that he should be out campaigning for the 2024 presidential election.
Read Next: <a href="https://www.benzinga.com/general/politics/24/05/38626165/hope-hicks-testifies-on-trumps-ex-lawyer-michael-cohens-mr-fix-it-moniker-only-because-he-broke-">Hope Hicks Testifies On Trump&#8217;s Ex-Lawyer Michael Cohen&#8217;s &#8216;Mr. Fix It&#8217; Moniker: &#8216;Only Because He Broke It First&#8217;</a>
Image created using artificial intelligence MidJourney

Legal

Michael Cohen Says He Never Asked For A Pardon From Trump, Stormy Daniels NDA Never Signed In Third Day Of His Testimony

Intchains Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NASDAQ">ICG</a>) reported quarterly losses of $(0.04) per ADS. This is a 300 percent decrease over earnings of $0.02 per ADS from the same period last year. The company reported $3.36 million in sales this quarter. This is a 11.30 percent decrease over sales of $3.79 million the same period last year.

Earnings

Intchains Gr Q1 Earnings Per ADS $(0.04) Down From $0.02 YoY, Sales $3.36M Down From $3.79M YoY

Offerings

AES Reports Pricing Of $950M Fixed-To-Fixed Rate Reset Junior Subordinated Green Notes In Public Offering

Significant tax benefits are anticipated for the cannabis industry, following President Joe Biden&#39;s confirmation of the administration&#39;s intent to <a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps">reschedule cannabis from Schedule I to Schedule III</a>. This move could alleviate the burdens of IRS tax code 280e, which has prevented cannabis companies from deducting normal business expenses. Which&nbsp;cannabis companies will&nbsp;benefit the most?
<h2>Leading The Pack In Tax Payments</h2>
Rescheduling cannabis will eliminate the burdensome 280E tax code, potentially freeing up over a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38657697/post-cannabis-rescheduling-whats-next-for-marijuana-giants-potential-1-1b-cash-flow">billion dollars in tax breaks</a> for the industry. Among the companies <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482521/curaleaf-and-trulieve-lead-the-pack-in-tax-payments-a-look-at-16-cannabis-msos-liab">poised to benefit the most</a> are Curaleaf (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) and Trulieve (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>), given their significant tax contributions.
According to Pablo Zuanic, a senior analyst from Zuanic &amp; Associates, these tax savings could lead to<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34153665/cannabis-tax-changes-could-trigger-504-cash-flow-leap-which-industry-players-will-b"> enhanced cash flows</a>, enabling these companies to reinvest in growth and expansion.
Zuanic has consistently highlighted the disparity between current market valuations and the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38803783/will-pharma-and-healthcare-have-competitive-edge-in-cannabis-post-rescheduling-data">potential upside</a>, particularly if federal legalization occurs. He emphasizes that immediate cash flow improvements could lead to&nbsp;substantial revaluation of these companies. By enabling the deduction of ordinary business expenses, the financial statements of these companies would more accurately reflect their true profitability.
<h3>Curaleaf&#39;s Financial Landscape</h3>
Beacon Securities&#39; Russell Stanley <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38772876/cannabis-reports-highlight-339m-and-297-6m-revenue-insights-in-curaleaf-and-truliev">notes</a>&nbsp;that&nbsp;Curaleaf&#39;s operating cash flow management, which facilitated a debt repurchase post-quarter, improving its financial stability. The expected rescheduling of cannabis and potential enactment of the SAFER Banking Act would&nbsp;create a financial landscape for Curaleaf, potentially increasing the company&#39;s operating cash flow by 92% and free cash flow by 188%.
Wedbush Securities released a<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38828563/largest-cannabis-co-curaleafs-1-5b-projected-revenue-for-2025-analyst-raises-rating"> report</a> on Curaleaf, raising the stock&#39;s 12-month price target to $7.00 from $6.00 and maintaining a buy recommendation. Their report notes Curaleaf&#39;s performance in key domestic markets such as Connecticut, Arizona, Maryland, and New York, anticipating revenue to increase to $1.50 billion in 2025&nbsp;with improvements in profitability.
<h3>Trulieve&#39;s Growth Potential</h3>
Needham&#39;s Matt McGinley<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38772876/cannabis-reports-highlight-339m-and-297-6m-revenue-insights-in-curaleaf-and-truliev"> highlights </a>Trulieve for its operational efficiency, noting that the company achieved the highest gross margin and EBITDA rates observed in over two years. He points to significant potential for growth in revenue stemming from legislative advancements in key markets like Florida and Pennsylvania, which may transition to adult-use cannabis.
<h3>Analyst Outlook On Industry Impact</h3>
Viridian Capital Advisors also provides an outlook, noting that ten MSOs surpassed EBITDA estimates by $37 million in the first quarter of 2024. This performance indicates that initial projections may have been<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38805354/analysts-may-need-to-revise-cannabis-stock-projections-for-2024-10-companies-surpas"> too conservative</a>. Analysts from Viridian highlight that Curaleaf and Trulieve, among others, are positioned to benefit from the financial changes resulting from the <a href="https://www.benzinga.com/markets/cannabis/24/05/38603896/credit-check-what-does-dea-rescheduling-mean-for-cannabis-credit-ratings-big-companies-risk-retu">removal of 280E</a>.
&ldquo;We are long-term bullish. Just on the US market alone, we could justify over $110 billion valuations by around 2030 assuming federal legalization,&rdquo;&nbsp;Zuanic <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38657697/post-cannabis-rescheduling-whats-next-for-marijuana-giants-potential-1-1b-cash-flow">said</a>.&nbsp;&ldquo;The tax savings would flow straight to the bottom line. If we take 10x on those savings, the upside for most stocks would be significant; in most cases, the value creation would be greater than the respective stocks&rsquo; market cap.&quot;
To learn more about the cannabis business and how to invest in the sector,&nbsp;don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
<h2>Deep Dive: Key Data On Curaleaf And Trulieve</h2>
<h3>Curaleaf Holdings, Inc.</h3>
The <a href="https://www.benzinga.com/markets/cannabis/24/05/38748891/curaleaf-reports-q1-2024-revenue-of-339m-48-gross-margin-amid-strategic-global-expansion">latest earnings reports</a> and data from Benzinga Pro reveal the following key metrics for Curaleaf Holdings, Inc.:
<ul>
<li>Market capitalization: $4.161 billion</li>
<li>Q1 2024 revenue: $339 million</li>
<li>Adjusted gross margin: 48%</li>
<li>Net loss: $48.3 million</li>
<li>Adjusted EBITDA: $77 million</li>
<li>Total assets: $3.083 billion</li>
<li>Total liabilities: $1.948 billion</li>
<li>Long-term debt: $475.627 million</li>
<li>Current ratio: 0.719</li>
<li>Free cash flow for the quarter: $25.675 million</li>
<li>Revenue over the trailing twelve months (TTM): $1.353 billion</li>
<li>Gross profit margin: 47.47%</li>
</ul>
<h3>Trulieve Cannabis Corp.</h3>
The <a href="https://www.benzinga.com/markets/cannabis/24/05/38730627/medical-marijuana-giant-trulieve-backer-of-floridas-recreational-cannabis-ballot-narrows-loss-re">latest earnings reports</a> and data from Benzinga Pro reveal the following key metrics for Trulieve Cannabis Corp.:
<ul>
<li>Market capitalization: $2.232 billion</li>
<li>Q1 2024 revenue: $298 million</li>
<li>Gross profit margin: 58.4%</li>
<li>Net loss: $23 million</li>
<li>Adjusted EBITDA: $106 million</li>
<li>Total assets: $2.819 billion</li>
<li>Total liabilities: $1.428 billion</li>
<li>Long-term debt: $478.614 million</li>
<li>Current ratio: 4.994</li>
<li>Free cash flow for the quarter: $118.652 million</li>
<li>Revenue over the trailing twelve months (TTM): $1.142 billion</li>
</ul>
Photo: AI-Generated Image.&nbsp;

Cannabis

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Market Summary

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Business Insider's Emily Stewart may not have just written the Peloton Interactive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) <a href="https://www.businessinsider.com/peloton-earnings-stock-price-problems-ceo-leaves-layoffs-fitness-fads-2024-5">obituary</a>, but her assessment indicates that the exercise bike company is about to <a href="https://www.benzinga.com/news/earnings/24/05/38595998/peloton-stock-falls-after-worse-than-expected-q3-results-new-co-ceos-restructuring-plan">kick the bucket</a>.
What Happened: Stewart&#8217;s article, which came out on Wednesday, outlines why the workout equipment maker is headed "to the fitness fad graveyard." Now, it's no secret that Peloton's stock has struggled. While the SPDR S&amp;P 500 Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and overall market hit new <a href="https://www.benzinga.com/markets/asia/24/05/38880380/dow-jones-hits-40-000-chinese-tech-stocks-jump-to-15-month-highs-bloodbath-on-meme-stocks-whats-driv">all-time highs this week</a>, Peloton's stock traded down more than 97% from its highs and more than 83% lower than what it opened at in the fall of 2019.&nbsp;
Stewart, a Peloton user herself, points out that some of the company's problems were brought on by unfortunate circumstances. 
Work-from-home and at-home workouts created a pull-forward effect for Peloton. But bike demand subsided quicker than the company could ramp up production. The fitness industry also has a habit of welcoming one workout trend after another. Eventually, they become fads. As Stewart puts it: Jazzercise, Zumba, CrossFit, Pilates, Cardio Barre, &#8220;or, well, you get the point&#8230; Fitness is a lot like fashion."
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38884870/major-indexes-close-in-the-red-dow-falls-below-40-000-as-investors-make-u-turn-on-economic-outlo">Major Indexes Close In The Red, Dow Falls Below 40,000 As Investors Make U-Turn On Economic Outlook</a> Why It Matters: Peloton&#8217;s market capitalization currently hovers at around $1.44 billion (it was $49.3 billion in January 2021). That may be concerning for the private equity suitors that are reportedly circling the struggling company. 
Another concern is the fact that the CEO tasked with turning the company around, Barry McCarthy, is <a href="https://www.benzinga.com/news/24/05/38583550/peloton-ceo-barry-mccarthy-resigns-as-company-decides-to-downsize-by-15-no-other-way-to-bring-its-sp">already leaving</a> after joining in 2022.
Whether it's failing to <a href="https://www.benzinga.com/23/08/34077528/peloton-falls-short-as-it-continues-to-work-on-rebranding-and-expanding">attract new customers</a>, cut into market share with new products, or keep legacy users engaged, Peloton clearly has some growth issues outside of its valuation and stock performance.
Price Action: The New York-based company&#8217;s share price closed Thursday at $3.89, down 4.42%. Now Read: <a href="https://www.benzinga.com/general/24/04/38160627/planet-fitness-has-been-pretty-much-destroyed-says-company-founder-amid-speculation-on-boycott-cance">Planet Fitness Has Been &#8216;Pretty Much Destroyed,&#8217; Says Company Founder Amid Speculation On Boycott Cancellations</a>
Image: Shutterstock

PTON

The $2,000 Bike That Can't Move: Is The Peloton Fad Officially Over?

The Company currently expects to file the Form 10-Q on or before May 20, 2024, the prescribed due date under the five calendar day extension period provided under Rule 12b-25.
The Company expects to report revenue of approximately $10,000 for the quarter ended March 31, 2024, compared to revenue of approximately $3.6 million previously reported for the quarter ended March 31, 2023.
The Company expects to report net loss of approximately $3.1 million for the quarter ended March 31, 2024 compared to net loss of $4.3 million for the quarter ended March 31, 2023.

IONM

Assure Holding Files Non-Timely 10-Q With SEC; Says Requires Additional Time To Finalize Its Financial Statements To Be Filed

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Meme stock mania appears to be far from dead. During the last incredible short squeeze cycle, which saw GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) surge to incredible levels, many retail investors made a killing. Today, GameStop appears to once again be in focus, with GME stock surging more than 75% in early afternoon trading on some interesting news.



GameStock is up on news that Keith Kill, also known as &ldquo;Roaring Kitty&rdquo; on his Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) account, has <a href="https://finance.yahoo.com/news/gamestop-stock-gains-more-than-70-gets-halted-for-volatility-after-roaring-kitty-post-143738265.html">made his first online post</a> in almost three years. This move has also sent Reddit shares higher on the day, currently up just shy of 10% on the news.



Much ado has been made about the linkage between social media activity and the previous meme stock bubble. Let&rsquo;s examine whether we&rsquo;re due for a repeat of what we saw in the past or if this recent surge is short-lived.



<h2>GME Stock Surges on Roaring Kitty Post</h2>



The popular r/WallStreetBets subreddit gained a tremendous amount of attention during the previous meme stock and short squeeze mania of 2021. Investors who followed a number of high-profile accounts, such as that of Roaring Kitty, were rewarded by some rather incredible moves that took months to fully play out. Today&rsquo;s price action suggests speculators have been awaiting this catalyst and are viewing another potential short squeeze as increasingly likely as retail investors clearly pile into this name today.



Daily <a href="https://finance.yahoo.com/quote/GME?.tsrc=fin-srch">trading volume</a> for GameStop shares has hit more than 150 million shares as of 2:30 p.m. Eastern. That&rsquo;s massive compared to the average trading volume for GME stock, which is around 7 million shares. This move has led short sellers to <a href="https://www.cnbc.com/2024/05/13/gamestop-short-sellers-have-already-lost-1-billion-from-mondays-monster-rally.html">lose around $1 billion</a> in value today alone, with many speculating more short positions could get unwound, given the current demand for this particular meme stock.



The <a href="https://finance.yahoo.com/news/gamestop-shares-rocket-pounding-short-124927394.html">Roaring Kitty post</a> on social media platform X depicts a meme of a man leaning forward in his seat. While seemingly innocuous, this tweet has clearly been enough to move markets. We&rsquo;ll have to see if this move can be sustained, but for now, it appears investors have plenty of reason to watch this stock closely.



On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/gme-stock-short-sellers-have-already-lost-1-billion-today-as-gamestop-soars/">GME Stock Short Sellers Have Already Lost $1 Billion Today as GameStop Soars</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

GME Stock Short Sellers Have Already Lost $1 Billion Today as GameStop Soars

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Social media firm Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) &mdash; which specializes in facilitating digital communities that cover a wide variety of topics &mdash; is seeing shares soar on Monday. Earlier today, speculation about the resurgence of meme stock trading boosted sentiment. However, RDDT stock is also fundamentally moving on strong financial results which are encouraging the market for initial public offerings (IPOs).



On Sunday, Keith Gill &mdash; who goes by the online moniker Roaring Kitty &mdash; <a href="https://apnews.com/article/meme-roaring-kitty-gamestop-amc-stocks-401916acd3715d35cc0220143b26b2ac">posted an image</a> on social media platform X. The image was a drawing of a man sitting forward in his chair and holding a game controller, a popular meme symbolizing gamers &ldquo;getting serious.&rdquo;



Gill is famous (or infamous, in some circles) for catapulting the meme stock trading phenomenon to the forefront after sharing his case for GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) stock. With that in mind, retail investors interpreted the posting on his long-dormant account as a sign that Gill is ready to spearhead another rally. Meanwhile, the swing higher for RDDT stock has significance because meme stock trading first occurred in the Reddit subcategory r/WallStreetBets.



In many ways, today&rsquo;s price action symbolizes a homecoming. Back in 2021, the phenomenon (which technically involved sparking short squeezes) temporarily helped small investors win big over hedge funds holding short positions, although many investors who bought in too late <a href="https://www.forbes.com/sites/joemoglia/2023/09/21/meme-stocks-are-back-will-retail-investors-ever-learn-the-hard-lessons/">ended up holding the bag</a>.



<h2>RDDT Stock Deserves Respect in Its Own Right</h2>



With that said, it would be inaccurate to characterize RDDT stock as an investment purely benefiting from internet-related phenomena. Last week, the underlying company <a href="https://www.cnbc.com/2024/05/07/reddit-rddt-q1-2024-earnings.html#:~:text=Tech-,Reddit%20shares%20soar%2011%25%20after%20company%20reports,pop%20in%20debut%20earnings%20report&amp;text=Reddit%20released%20its%20first%20quarterly,active%20users%20for%20the%20period.">posted overall strong results</a> for its first quarterly earnings disclosure since its IPO.



Although Reddit posted a loss per share of $8.19, most of the focus was on the top line. Reddit rang up sales of $243 million during Q1, which easily beat the consensus estimate of $212.8 million. Further, the result represented a 48% lift from the year-ago quarter&rsquo;s print of $163.7 million.



In addition, the social media firm reported $222.7 million in advertising revenue during the period, which was up 39% on a year-over-year (YOY) basis. Significantly, CNBC reports that this performance represented a &ldquo;faster rate of growth than at its top competitors.&rdquo;



The figures above offer encouragement for enterprises beyond just Reddit and RDDT stock. Firstly, the upbeat dynamic indicates that digital advertising may be initiating a comeback. The results also suggest that the IPO market may be robust after a disappointing lull.



In 2021, sentiment for new listings skyrocketed. Armed with plenty of time following the impact of the pandemic, many retail investors <a href="https://www.reuters.com/markets/europe/record-ipo-binge-2021-leaves-investors-hung-over-2021-12-24/">binged on IPOs</a> and special purpose acquisition companies (SPACs). However, this <a href="https://www.weforum.org/agenda/2022/12/ipo-plummet-company-finance/">category plunged in 2022</a>.



Now, it&rsquo;s possible that the IPO market could be entering a more sustainable phase.



<h2>Why It Matters</h2>



At the moment, Wall Street analysts rate RDDT stock as a <a href="https://www.tipranks.com/stocks/rddt/forecast">consensus moderate buy</a>. This assessment breaks down as eight buys, six holds and one sell. However, the average price target for shares comes in at $58.40 which, thanks to today&rsquo;s meme-trading boost, now implies upside potential of less than 1%.



On the date of publication, Josh Enomoto did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/infamous-user-roaring-kitty-sends-reddit-rddt-stock-surging/">Infamous User Roaring Kitty Sends Reddit (RDDT) Stock Surging</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Infamous User Roaring Kitty Sends Reddit (RDDT) Stock Surging

The TipRanks All-Star Analyst of the Day title goes to&nbsp;Josh Beck of research firm Raymond James. Remarkably, Beck ranks #124 out of the 8,844 ...

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
AMC Entertainment&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) stock is soaring higher on Tuesday as meme traders continue to rally the shares while celebrating the <a href="https://twitter.com/TheRoaringKitty">return of Roaring Kitty</a>.



Roaring Kitty, the trader that kicked off the 2021 meme rally with his coverage of GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>), <a href="https://investorplace.com/2024/05/amc-stock-soars-as-roaring-kitty-returns-to-social-media/">is back on social media</a>. The individual made his first post since 2021 over the weekend.



That resulted in shares of AMC rallying yesterday alongside GME and other <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a>. This positive movement hasn&rsquo;t stopped as Roaring Kitty continues to post memes and videos on his X account.



Meme stocks including AMC, GME and even Koss&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/koss-stock-quote/">KOSS</a>) are mong the top movers this morning with Roaring Kitty&rsquo;s recent activity. Investors in these shares are likely hoping for a replay of 2021. That would see many of these stocks surge higher throughout the year with short squeezes and other activity.



<h2>AMC Stock Market Movement on Tuesday</h2>



Honing in on AMC stock we see heavy trading of its shares this morning. That has more than 55 million shares changing hands as compared to its daily average of about 25 million shares. Investors will also note that over 478 million shares of AMC traded yesterday.



AMC stock is up 121.6% as of Tuesday morning. That builds on a 78.4% rally during normal trading hours yesterday. That&rsquo;s welcome news for AMC traders as the shares were down 15.1% year-to-date when markets closed yesterday.



Investors will want to keep reading for more of the most recent stock market news.



We have all of the hottest stock market stories worth reading about on Tuesday! That includes the biggest pre-market stock movers this morning, the latest news for Reddit&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) stock and more. All of this info is ready to go at the links below!



<h2>More Tuesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/05/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-tuesday-may-14th/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Tuesday</a></li>



<li><a href="https://investorplace.com/2024/05/infamous-user-roaring-kitty-sends-reddit-rddt-stock-surging/">Infamous User Roaring Kitty Sends Reddit (RDDT) Stock Surging</a></li>



<li><a href="https://investorplace.com/2024/05/is-celsius-celh-stock-an-unlikely-winner-from-the-roaring-kitty-gamestop-rally/">Is Celsius (CELH) Stock an Unlikely Winner From the Roaring Kitty GameStop Rally?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/05/why-is-amc-entertainment-amc-stock-up-122-today/">Why Is AMC Entertainment (AMC) Stock Up 122% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is AMC Entertainment (AMC) Stock Up 122% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Meme stock traders rushed into the market yesterday, sending shares of movie theater chain&nbsp;AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) up 80%. The buying continued overnight, with AMC stock doubling in value.



AMC opened this morning at $11.77 per share. It opened on May 13 at $3.50, and its market cap was up to $3 billion.



The gain was in line with those of other 2021 <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a>. GameStop (NYSE:<a href="https://investorplace.com/stock-quotes/gme-stock-quote/">GME</a>) also doubled overnight after Keith Gill, who tweets as &ldquo;Roaring Kitty,&rdquo; said on X <a href="https://twitter.com/TheRoaringKitty/status/1789807772542067105">the meme stock game is on again</a>. 



<h2>Party Like It&rsquo;s 2021</h2>



The original meme stocks are sent higher by small traders organized against excessive shorting of stocks on sites like Reddit&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) r/WallStreetBets. Fintel reported that <a href="https://fintel.io/ss/us/amc">almost 19%</a> of AMC&rsquo;s float was sold short on May 14. However, it also saw many institutions <a href="https://fintel.io/sosh/us/amc">closing out their &ldquo;put&rdquo; positions</a> (a bet the stock price will fall) overnight.



While the AMC short interest is not considered excessive, stocks with the biggest short positions were also rising. Among these was SunPower (NASDAQ:<a href="https://investorplace.com/stock-quotes/spwr-stock-quote/">SPWR</a>), <a href="https://www.barrons.com/articles/meme-stocks-blackberry-koss-sunpower-eeb2a0d0">where 95% of the float</a> was held short. It jumped almost 19% on May 13 and another 61% overnight. SunPower had a market cap of over $800 million early on May 14.



Gill himself posted <a href="https://twitter.com/TheRoaringKitty?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">a series of short videos</a> on themes of violence and revenge. He finished with a summary of his <a href="https://x.com/TheRoaringKitty/status/1300164892570333186">bull case on GameStop</a>.



Small traders were also dunking on critics, including this reporter. I wrote a negative story about AMC <a href="https://investorplace.com/2024/05/dear-amc-stock-fans-mark-your-calendars-for-may-16/">last week</a>. My story had an error in overstating AMC&rsquo;s debt. I also called it a &ldquo;penny serenade.&rdquo; Traders are singing &ldquo;Hamilton&rdquo; instead as the stock rockets over $10.



The math of the meme trading game remains the same. You make money so long as other traders are bidding the stock up. Once they sell, shares fall back to fundamental values, and those left holding them are out of luck.



<h2>AMC Stock: What Happens Next?</h2>



Don&rsquo;t trust the signals bulls send on <a href="https://www.reddit.com/r/wallstreetbets/">r/WallStreetBets</a>. Your cue for when to get out will be in the trades themselves. If you can&rsquo;t follow them closely, it&rsquo;s best not to play. Good luck!



On the date of publication, Dana Blankenhorn did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div><a href="http://www.danablankenhorn.com/">Dana Blankenhorn</a> has been a financial and technology journalist since 1978. He is the author of <a href="https://www.amazon.com/Technologys-Big-Bang-Yesterday-Tomorrow-ebook/dp/B0829C7XSF">Technology&rsquo;s Big Bang: Yesterday, Today and Tomorrow with Moore&rsquo;s Law</a>, available at the Amazon Kindle store. Tweet him at <a href="http://www.twitter.com/danablankenhorn">@danablankenhorn</a>, connect with him on <a href="https://journa.host/@DanaBlankenhorn"> Mastodon</a> or subscribe to his <a href="https://danafblankenhorn.substack.com/">Substack</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/amc-stock-surges-100-in-tuesday-morning-trading-as-meme-frenzy-heats-up/">AMC Stock Surges 100% in Tuesday Morning Trading as Meme Frenzy Heats Up</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

AMC Stock Surges 100% in Tuesday Morning Trading as Meme Frenzy Heats Up

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								Get Alert
RDDT	Reddit, Inc.	05/09/2024	—	—	4,254,218	2,017,397	2.11	Get Alert
RDDT	Reddit, Inc.	04/24/2024	—	—	2,877,590	4,893,143	1	Get Alert
RDDT	Reddit, Inc.	04/09/2024	—	—	3,819,412	17,319,031	1	Get Alert

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Reddit Stock (NYSE:RDDT), Short Interest Report

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