Arch Resources Inc Warrants - Series A (05/10/2023) Stock (OTC: ARRHW)

Latest news for Arch Resources Inc Warrants - Series A (05/10/2023) (OTC:ARRHW) Stock

Arch Resources Inc Warrants - Series A (05/10/2023)

WIIM

HIVE

HIVE Digital technologies shares are trading higher after B. Riley Securities initiated a Buy rating on the stock and announced a $6 price target. Also, the stock may be gaining amid a rise in the price of Bitcoin.

DA Davidson analyst Gary Tenner maintains Triumph Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFIN#NASDAQ">TFIN</a>) with a Neutral and raises the price target from $68 to $74.

News

Price Target

Analyst Ratings

TFIN

DA Davidson Maintains Neutral on Triumph Financial, Raises Price Target to $74

<a href="https://www.bloomberg.com/news/articles/2024-07-19/blackstone-said-to-weigh-stake-sale-in-marketing-firm-hh-global?srnd=homepage-americas" title="https://www.bloomberg.com/news/articles/2024-07-19/blackstone-said-to-weigh-stake-sale-in-marketing-firm-hh-global?srnd=homepage-americas">https://www.bloomberg.com/news/articles/2024-07-19/blackstone-said-to-weigh-stake-sale-in-marketing-firm-hh-global?srnd=homepage-americas</a>

Asset Sales

'Blackstone Said To Weigh Stake Sale In HH Global, Could Value HH Global At £2 Billion To £2.5 Billion' - Bloomberg News

DA Davidson analyst Kevin Reevey maintains Wintrust Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>) with a Buy and raises the price target from $120 to $125.

WTFC

DA Davidson Maintains Buy on Wintrust Finl, Raises Price Target to $125

Wedbush analyst Nick Setyan reiterates Wingstop (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) with a Outperform and maintains $425 price target.

Reiteration

WING

Wedbush Reiterates Outperform on Wingstop, Maintains $425 Price Target

CIBC analyst Stephanie Price maintains Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) with a Neutral and lowers the price target from $36 to $33.

OTEX

CIBC Maintains Neutral on Open Text, Lowers Price Target to $33

CIBC analyst Nik Priebe maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Outperformer and raises the price target from $47 to $49.

CIBC Maintains Outperformer on Brookfield Asset Mgmt, Raises Price Target to $49

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) volatile performance in the past few weeks has traders debating over whether the <a href="https://www.benzinga.com/money/is-the-bitcoin-4-year-market-cycle-real">four-year cycle theory</a> remains still intact.
What Happened: Trader CryptoCon on Friday said he is hopeful the four-year cycle theory lives on.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Although there are still signs of acceleration in the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> cycles, I sincerely hope original timing finds its way back. Perfect 4-year cycles since inception, 208 weeks exactly. The March 2024 high was the first deviation which made new ATHs about 1 year earlier than usual.… <a href="https://t.co/ZF3BpMUA18">pic.twitter.com/ZF3BpMUA18</a>
&mdash; CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1814001194391548097?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
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He <a href="https://x.com/CryptoCon_/status/1814001194391548097">pointed</a> out that the high in March 2024 was the first deviation from the original cycle, with new all-time highs occurring approximately a year earlier than usual. A second early top was observed in June, which ended up as a lower high compared to the March top.
Despite these deviations, CryptoCon believes it&#8217;s still possible for everything to turn out as it has in the past. He referred to the BitTime and Halving Cycles Theory, which predicts a first top in June 2025 and a final top in December 2025, mirroring the second cycle from 2014 to 2017.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39858323/it-bitcoin-drops-15-this-popular-dogcoin-will-crater-40-trader-warns">If Bitcoin Drops 15%, This Popular Dogcoin Will Crater 40%, Trader Warns</a>
Why It Matters: Voicing a similar opinion, crypto trader Stockmoney Lizards noted Bitcoin cycles are repeating. He states that it starts with an all-time high and then moves to a correction and bear market rally phase.
From the bear market phase, it goes to the bear market bottom and then to the uptrend and consolidation phase. Finally, it reaches the new all-time high again. The trader based his cycle analysis on the Fibonacci sequence in technical chart analysis.
In his <a href="https://x.com/StockmoneyL/status/1814207755634221435">chart</a> depiction, Bitcoin&#8217;s 2014 to 2018 cycle rallied 2,200%, while the 2017 to 2021 cycle had a 450% rally. For the 2021 to 2025 phase, the trader predicts a 150% rally, with the final peak post-September 2024 until late 2025. 
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852891/bitcoin-bull-dave-portnoy-foresees-king-cryptos-surge-if-trump-triumphs-in-november-electi">Bitcoin Bull Dave Portnoy Foresees King Crypto&#8217;s Surge If Trump Triumphs In November Election: &#8216;It&#8217;s Gonna Rip&#8217;</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Is The Bitcoin 4-Year Cycle Theory Still Intact? If Yes, Here's When The Top Is Coming

Arcelor Mittal Asks Mexican Authorities To Enforce Rule Of Law And Guarantee Security In The Municipality Where It Operates

Seagate Tech Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STX#NYSE">STX</a>) short percent of float has fallen 7.25% since its last report. The company recently reported that it has 10.81 million shares sold short, which is 6.27% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.85 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Seagate Tech Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721402120_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Seagate Tech Hldgs has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Seagate Tech Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Seagate Tech Hldgs's peer group average for short interest as a percentage of float is 6.15%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(STX) - Analyzing Seagate Tech Hldgs's Short Interest

Remember the &#8220;slacker&#8221; generation? Well, they&#8217;re not slacking anymore. <a href="https://www.benzinga.com/personal-finance/24/03/37517661/all-generations-are-financially-traumatized-but-gen-x-americas-forgotten-middle-child-bears-the-">Gen X, born between 1965 and 1979</a>, born between 1965 and 1979, are now the most stressed-out bunch in our society. And honestly, can you blame them? They are caught in a perfect storm of pressures that would make anyone&#8217;s hair grey.&nbsp;
Don't Miss:
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
<li>How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a></li>
</ul>
Gen Xers have been the most stressed generation for over a decade. In their 40s and 50s, Gen Xers have consistently reported higher stress levels than other generations since at least 2012.
A Penn State study in 2012 found that Gen X had significantly higher stress levels than other age groups, reporting an average stress level of 5.8 out of 10. This was notably higher than Millennials (3.4) and Baby Boomers (4.4). The American Psychological Association&#8217;s (APA) annual Stress in America survey from the same year corroborated these findings, showing that both Gen Xers and Millennials reported an average stress level of 5.4 on a 10-point scale, higher than Boomers (4.7) and Matures (3.7).
LinkedIn research in 2019 found that Gen Xers were still extremely stressed compared to the generations around them, with work-life balance, job security, and a sense of purpose being among the top stressors. More recent information from 2021 shows this trend is still in progress, as 22% of Gen Xers <a href="https://www.benzinga.com/personal-finance/24/05/38845785/living-on-edge-nearly-90-of-retirees-worried-inflation-will-eat-away-savings">confess to struggling with stress daily</a>, compared to 17% for Millennials, 14% for Gen Zs, and 8% for Baby Boomers.
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See Also: <a href="https://www.benzinga.com/money/mark-cubans-annuity-adv">Many are surprised by Mark Cuban&#8217;s advice for lotto winners: Cash or annuity?</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
There are several causes of elevated stress levels among Generation X. They are often caught up in the "sandwich generation" who have to take care of old parents and their kids simultaneously. There is also a considerable financial aspect involved since many individuals from this cohort are lagging in retirement savings despite nearing retirement age. During their peak earning years&nbsp;
GenX encountered numerous economic challenges, including the bursting of the dot-com bubble, the Great Recession, and the COVID-19 pandemic. They were forced into an abrupt adaptation from analog childhood to digital adulthood, where they had to cope with technological changes on both personal and professional fronts. This created another level of anxiety because they were constantly required to be knowledgeable about emerging technologies.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: General Motors and other leaders revealed to be<a href="https://www.benzinga.com/money/energyx"> investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50 per share.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The picture regarding Generation X's retirement savings is worrisome based on various research findings, which indicate huge deficits. Natixis Investment Managers found that the majority (48%) fear they will have enough saved to enjoy retirement and another 31% fear they&#8217;ll never save enough.&nbsp;
The average retirement savings for Gen X households is approximately $150,000, far below the estimated $1.5 million experts say is required for a comfortable retirement. Even more alarming, the National Institute on Retirement Security reports that the typical Gen X household with a private retirement plan has only $40,000 in savings, and about 40% of the group has not saved anything for retirement. The Schroders 2023 U.S. Retirement Survey paints a slightly more optimistic but still troubling picture, showing that Gen X workers, on average, believe they will need around $1.1 million in savings to retire comfortably but expect to have only $660,000 saved, indicating a substantial shortfall of about $440,000.&nbsp;
Despite all this stress, Gen X has <a href="https://www.benzinga.com/personal-finance/24/03/37871322/whining-got-us-nowhere-gen-x-is-notoriously-laid-back-but-often-overlooked-79-say-theyre-forgott">developed a unique resilience</a>. They&#8217;re the generation that grew up figuring things out independently, and that adaptability serves them well now. While they may be the most stressed, they&#8217;re often the best equipped to handle it. As the <a href="https://www.apa.org/news/press/releases/stress/2012/generation.pdf">American Psychological Association</a> points out, &#8220;Stress at any age is still stress,&#8221; but Gen X seems to have a knack for weathering the storm, even if they feel more pressure than most.
Read Next:
<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
<li>Rory McIlroy&#8217;s mansion in Florida is worth $22 million today, doubling from 2017 —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> here&#8217;s how to get started investing in real estate with just $100</a></li>
</ul>

Personal Finance

Gen X Is The Most Stressed Generation Alive And Studies Reveal Why – Hint: They're $440,000 Short On Retirement, And It's Only Getting Worse

Martin Marietta Materials's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) short percent of float has risen 13.59% since its last report. The company recently reported that it has 1.27 million shares sold short, which is 2.34% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.35 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Martin Marietta Materials Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721402115_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Martin Marietta Materials has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Martin Marietta Materials's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Martin Marietta Materials's peer group average for short interest as a percentage of float is 2.87%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Martin Marietta Materials?

Blink Charging's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NYSE">BLNK</a>) short percent of float has risen 5.12% since its last report. The company recently reported that it has 19.76 million shares sold short, which is 20.75% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.6 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Blink Charging Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721402110_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Blink Charging has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Blink Charging's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Blink Charging's peer group average for short interest as a percentage of float is 9.67%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

BLNK

How Is The Market Feeling About Blink Charging?

Wedbush analyst Nick Setyan maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Neutral and lowers the price target from $21 to $19.5.

Wedbush Maintains Neutral on Wendy's, Lowers Price Target to $19.5

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is set to initiate <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39716416/goldman-sachs-to-launch-three-tokenization-projects-by-year-end-itll-change-the-nature-of-">three tokenization projects by the end of the year</a>, aiming to transform how clients invest in financial assets. This move will tokenize assets like money market funds and real estate holdings, utilizing both public and private blockchains.
<h3 class="wp-block-heading">Goldman Sachs&#8217; New Ventures in Tokenization</h3>
According to&nbsp;<a href="https://fortune.com/crypto/2024/07/10/goldman-sachs-launch-tokenization-bitcoin-etfs-crypto-mcdermott/" target="_blank" rel="noreferrer noopener">Fortune</a>,&nbsp;Goldman Sachs is advancing its digital asset strategy with three new projects focused on tokenizing various asset classes. Matthew McDermott, global head of digital assets at Goldman Sachs, noted, &#8220;The feedback is clear: this will change the nature of investment.&#8221; These projects will include tokenizing U.S. fund complexes and debt issuance in Europe, with further details pending.
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/19091021/905735A6-57D3-4874-9AA1-75D037842DB3-1-11.gif" alt="" class="wp-image-445730" style="width:417px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Fractional Ownership and Investment Accessibility</h3>
Tokenization enables fractional ownership, allowing investors to own parts of high-value assets, such as real estate, without purchasing the entire property. This approach democratizes investment opportunities, making them accessible to a broader range of investors. Larry Fink, CEO of BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), predicts that the market for tokenized assets could eventually surpass Bitcoin&#8217;s market cap.
<h3 class="wp-block-heading"> Potential Regulatory Shifts</h3>
As regulatory frameworks evolve, Goldman Sachs is preparing to expand its crypto-related activities. McDermott highlighted that upcoming regulatory changes, particularly in the U.S., could create new opportunities for the bank, including the possibility of holding spot crypto assets. This readiness to adapt to regulatory developments is crucial for maximizing investment potential.
<h3 class="wp-block-heading">Industry Leaders Converge</h3>
In November, the <a href="https://www.benzinga.com/events/digital-assets/">Benzinga Future of Digital Assets</a> event in New York City will gather over 1,000 leaders from the capital markets to discuss the future of digital assets. This one-day event will provide a platform for extensive networking and discussions on emerging trends in the digital asset space.
The event will feature 4,000 one-on-one meetings, executive roundtables, and exclusive networking sessions. Attendees will have the opportunity to engage with digital asset innovators and explore new investment strategies, gaining insights into the evolution of alternative asset classes.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39858323/it-bitcoin-drops-15-this-popular-dogcoin-will-crater-40-trader-warns">If Bitcoin Drops 15%, This Popular Dogcoin Will Crater 40%, Trader Warns</a></li>
</ul>
Image: Shutterstock

Events

Markets

Goldman Sachs To Launch 3 Tokenization Projects That 'Will Change The Nature Of Investment'

Macro Economic Events

Global

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

U.S. Secretary Of State Blinken Says Believe U.S. Is Driving Towards Goal Line On Getting Israel-Hamas Ceasefire Agreement; Question Now Is Finishing Negotiation Of Some Critical Details; Have An Agreement To Framework Biden Put Out By Israel And Hamas

Wester Alliance shares are trading higher after the company reported better-than-expected Q2 financial results.

Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) CEO Robert Ford said the company will use a mix of TV advertisements and guerilla marketing to promote the U.S. launch of Lingo, its glucose monitoring device.
This device targets consumers without diabetes, aiming to personalize health data and enhance understanding of their health metrics.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/07/39673676/similac-baby-formula-maker-abbott-and-reckitt-face-hundreds-of-baby-formula-lawsuits" rel="noreferrer noopener">Similac Baby Formula Maker Abbott And Reckitt Face Hundreds Of Baby Formula Lawsuits</a>.
Ford projected that Lingo could become a multi-billion-dollar product, although it is still in its nascent stage.
Lingo, an over-the-counter device, is scheduled to launch this year alongside Libre Rio, which received FDA clearance last month.
Abbott&#8217;s consumer biowearable, Lingo, is designed for consumers 18 years and older looking to improve their overall health and wellness.
Lingo will track glucose and provide personalized insights and customized coaching to help people create healthy habits, retrain their metabolism, and improve their overall well-being.&nbsp;
Libre Rio Libre Rio&nbsp;will be Abbott&#8217;s first over-the-counter CGM system for people with diabetes in the U.S.
It is designed for people ages 18 and older with Type 2 diabetes who do not use insulin and typically manage their diabetes through lifestyle modifications.
In continuous glucose monitoring, Abbott competes with DexCom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) and Medtronic Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>).
During the second quarter, FreeStyle Libre, Abbott&#8217;s prescription blood sugar monitor, achieved $1.6 billion in <a target="_blank" href="https://www.benzinga.com/24/07/39839507/abbott-laboratories-q2-earnings-revenue-and-profit-beat-estimates-nudges-up-annual-profit-guidance-o" rel="noreferrer noopener">global sales</a>, up 18.4% year over year.
Reuters notes that the company acknowledges that marketing a consumer product like Lingo will differ significantly from promoting a medical device.
Ford emphasized the importance of guerilla marketing, which includes on-ground outreach and social media campaigns, to drive adoption.
Sourcing an RBC Capital Markets analyst, Reuters noted that while current sales projections for Abbott and DexCom&#8217;s OTC products are modest, the potential market is significant.
Singh highlighted that Abbott is just beginning to launch Lingo this summer, presenting substantial opportunities for both companies.
Ford anticipates that sales growth for Lingo will gradually increase as Abbott establishes the market and learns from its early efforts.
Price Action: ABT stock is up 1.38% at $101.44 at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/07/39857064/eli-lillys-famed-weight-loss-drug-zepbound-scores-chinese-approval" target="_blank" rel="noreferrer noopener">Eli Lilly&#8217;s Famed Weight Loss Drug Zepbound Scores Chinese Approval</a>.</li>
</ul>
Photo via Shutterstock

Biotech

Health Care

Media

DXCM

Abbott Labs Makes Marketing Push For New Glucose Monitors, Targets Health-Conscious Consumers

BANF

BancFirst shares are trading higher after the company reported better-than-expected Q2 GAAP EPS results.

Wedbush analyst Nick Setyan maintains Shake Shack (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) with a Neutral and lowers the price target from $110 to $90.

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Arch Resources Inc Warrants - Series A (05/10/2023)

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Latest news for Arch Resources Inc Warrants - Series A (05/10/2023) (OTC:ARRHW) Stock