Latest news for CALBEE (OTC:CLBEY) Stock

Calbee, listed in 2011, is a leader in Japan's snack food industry with nearly 54% of the domestic market. Potato snacks, including chips and the company's original Jagarico and Jagabee potato strips, are a core strength, demonstrated by a dominant 71% share in potato chips. Growth in the Frugra brand, the best-selling cereal product with a 38% share in the domestic cereal market, is the latest growth driver in China. The overseas business, constituting 16% of group sales, has been undergoing restructuring since the partnership with Tingyi and PepsiCo unwound. Apart from China and the U.S., Indonesia and the U.K. are emerging as new growth drivers. Easing competition should end losses in Indonesia while the integration of Calbee U.K. and Seabrook will enhance cost efficiencies.

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ALEAFIA HEALTH INC ORD by Aleafia Health Inc.

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Stocks That Hit 52-Week Lows On Friday

CALBEE Inc

JP Morgan analyst Ryan Brinkman maintains Gentex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) with a Neutral and lowers the price target from $36 to $35.

Price Target

Analyst Ratings

GNTX

JP Morgan Maintains Neutral on Gentex, Lowers Price Target to $35

RBC Capital analyst Scott Heleniak maintains Selective Insurance Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGI#NASDAQ">SIGI</a>) with a Sector Perform and lowers the price target from $103 to $96.

SIGI

SLBRBC Capital Maintains Sector Perform on Selective Insurance Gr, Lowers Price Target to $96

Politics

General

Evercore Founder Roger Altman Endorses Kamala Harris

MIRA Pharmaceuticals Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>)&nbsp;announced new preclinical study results for its novel oral ketamine analog, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/ac39880944/mira-pharmaceuticals-reveals-preclinical-success-ketamir-2-optimized-for-brain-delivery-avoiding-" rel="noreferrer noopener">Ketamir-2</a>.
MIRA Pharmaceuticals is developing the next generation of oral ketamine and pharmaceutical marijuana analogs to treat <a target="_blank" href="https://www.benzinga.com/news/24/07/39777820/why-mira-pharmaceuticals-stock-is-moving-higher-monday" rel="noreferrer noopener">neurologic neuropsychiatric disorders</a>.&nbsp;
The additional data comes as MIRA prepares to submit an Investigational New Drug (IND) application to the FDA by the end of this year.
Ketamir-2 is under investigation for its potential to treat neurological and neuropsychiatric disorders, including depression, treatment-resistant depression, and post-traumatic stress disorder.
Ketamir-2 has demonstrated in&nbsp;in vitro&nbsp;studies that it is not a substrate for interaction with P-glycoprotein (P-gp). This membrane protein typically pumps many drugs out of cells, including cells in the brain.
This characteristic might allow Ketamir-2 to have better oral absorption and to penetrate the blood-brain barrier more effectively than traditional ketamine, which is a substrate of P-gp.
MIRA&#8217;s preclinical research indicates that Ketamir-2 exhibits better oral bioavailability, which could ensure higher efficacy at lower doses than traditional ketamine.
MIRA previously announced that Ketamir-2&#8217;s oral bioavailability is predicted to be around 80%, significantly higher than traditional ketamine&#8217;s less than 30%.
Additionally, preclinical studies have shown that while oral Ketamir-2 has been shown to be safe at high doses and is effective in several anti-depressant and anxiolytic models, and it does not appear to induce hyper-locomotor activity, a common side effect of traditional ketamine.
Moreover, Ketamir-2 has shown no interaction with the mu-opioid receptor, unlike traditional ketamine. This could potentially mean a reduced risk of opioid-related side effects and dependency.
Recent studies further highlight Ketamir-2&#8217;s anti-depressive and anxiolytic effects in a mouse model, with significant improvements in behavioral tests compared to traditional ketamine.
MIRA has additional ongoing preclinical studies to demonstrate Ketamir-2&#8217;s potential efficacy in treating chemotherapy-induced depression and cancer-related neuropathic pain. The company is exploring options for orphan drug indications such as multiple sclerosis-induced depression and Huntington&#8217;s disease-induced depression.
Price Action: MIRA stock is up 151.20% at $1.73 at the last check on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/07/39864990/cell-therapy-mostly-used-for-blood-cancer-shows-efficacy-in-autoimmune-diseases-as-well-but-there" target="_blank" rel="noreferrer noopener">Cell Therapy Mostly Used For Blood Cancer Shows Efficacy In Autoimmune Diseases As Well, But There Are Challenges</a>.</li>
</ul>
Image via Shutterstock

MIRA

Nano-Cap MIRA Pharmaceuticals' Oral Ketamine Analog Shows Potential In Neuropsychiatric Disorders

JP Morgan analyst Ryan Brinkman maintains Dana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAN#NYSE">DAN</a>) with a Overweight and lowers the price target from $18 to $17.

JP Morgan Maintains Overweight on Dana, Lowers Price Target to $17

Fortinet's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NYSE">FTNT</a>) short percent of float has risen 12.83% since its last report. The company recently reported that it has 16.06 million shares sold short, which is 2.55% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.2 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>Fortinet Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721658622_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Fortinet 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 Fortinet'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>, Fortinet's peer group average for short interest as a percentage of float is 5.38%, 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.

Short Sellers

Short Ideas

FTNT

(FTNT) - Analyzing Fortinet's Short Interest

Warrior Met Coal's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>) short percent of float has risen 44.2% since its last report. The company recently reported that it has 3.98 million shares sold short, which is 10.57% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.94 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>Warrior Met Coal Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721658616_0_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Warrior Met Coal 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 Warrior Met Coal'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>, Warrior Met Coal's peer group average for short interest as a percentage of float is 5.80%, 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.

(HCC) - Analyzing Warrior Met Coal's Short Interest

GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has outperformed the market over the past 20 years by 5.26% on an annualized basis producing an average annual return of 13.63%. Currently, GameStop has a market capitalization of $10.57 billion. 
Buying $1000 In GME: If an investor had bought $1000 of GME stock 20 years ago, it would be worth $13,122.44 today based on a price of $24.79 for GME at the time of writing.
<h3>GameStop's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721658616_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $13,000 Today

Oppenheimer analyst Kristen Owen maintains Green Plains (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRE#NASDAQ">GPRE</a>) with a Outperform and lowers the price target from $28 to $21.

GPRE

Oppenheimer Maintains Outperform on Green Plains, Lowers Price Target to $21

Howmet Aerospace's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) short percent of float has risen 16.29% since its last report. The company recently reported that it has 11.04 million shares sold short, which is 3.07% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.93 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>Howmet Aerospace Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721658612_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Howmet Aerospace 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 Howmet Aerospace'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>, Howmet Aerospace's peer group average for short interest as a percentage of float is 2.43%, 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.

Peering Into Howmet Aerospace's Recent Short Interest

Tyler Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) has outperformed the market over the past 5 years by 4.87% on an annualized basis producing an average annual return of 17.71%. Currently, Tyler Technologies has a market capitalization of $22.26 billion. 
Buying $100 In TYL: If an investor had bought $100 of TYL stock 5 years ago, it would be worth $229.71 today based on a price of $524.33 for TYL at the time of writing.
<h3>Tyler Technologies's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721658611_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Tyler Technologies Stock In The Last 5 Years

JP Morgan analyst Ryan Brinkman maintains BorgWarner (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWA#NYSE">BWA</a>) with a Overweight and lowers the price target from $52 to $50.

JP Morgan Maintains Overweight on BorgWarner, Lowers Price Target to $50

WIIM

CABO

CHTR

CMCSA

Shares of telecom stocks are trading lower in sympathy with Verizon Communications after the company reported worse-than-expected Q2 revenue results.

Oppenheimer analyst Kristen Owen maintains Deere (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) with a Outperform and lowers the price target from $465 to $448.

Oppenheimer Maintains Outperform on Deere, Lowers Price Target to $448

Shares of Lennar Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) declined in premarket trading on Monday, just weeks after the company announced plans to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39693554/why-this-lennar-analyst-is-no-longer-bearish-after-6b-spinoff-plan">spin off its land assets</a>.
Although the company is poised to benefit from its greater exposure to entry level and first-time buyers as the Federal Reserve cuts interest rates, this is already reflected in the stock valuation, according to Goldman Sachs.
The Lennar Analyst: Susan Maklari downgraded the rating for Lennar from Buy to Neutral, while reducing the price target from $180 to $174.
The Lennar Thesis: Following the recent outperformance, the stock may remain range bound in the near term, Maklari said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Lennar's exposure to entry level is likely to result in margin expansion, the analyst stated. She explained that Lennar is focusing on adding affordable supply to the market, targeting first-time buyers, and shifting to a manufacturing-based strategy, which boosts efficiency.
"As rates move lower, easing financial incentives, we believe profitability could expand, supporting earnings and greater cash generation," Maklari wrote.
Lennar's proposed spinoff of owned land for $6 billion to $8 billion "could drive a re-rating of LEN over time, as the market assesses the company's new profile if and when the spin is completed, as well as decisions around capital allocation, notably shareholder returns," she added.
LEN Price Action: Shares of Lennar had declined by 1.5% to $168.39 at last check on Monday.
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<li><a href="https://www.benzinga.com/news/24/07/39879895/if-youre-a-lawyer-for-crowdstrike-youre-probably-not-going-to-enjoy-the-rest-of-your-summer-say-dan">&#8216;If You&#8217;re A Lawyer For Crowdstrike, You&#8217;re Probably Not Going To Enjoy The Rest Of Your Summer&#8217;</a></li>
</ul>
Image: Shutterstock

Analyst Color

Downgrades

Why This Lennar Analyst Is No Longer Bullish Despite Potential Rate Cut Benefits

RBC Capital Maintains Sector Perform on Selective Insurance Gr, Lowers Price Target to $96

JP Morgan analyst Ryan Brinkman maintains Aptiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) with a Overweight and lowers the price target from $113 to $104.

APTV

JP Morgan Maintains Overweight on Aptiv, Lowers Price Target to $104

President Joe Biden has announced that<a href="https://twitter.com/JoeBiden/status/1815080881981190320"> he will not seek reelection in 2024</a>. In a letter posted on his official X account, Biden expressed his belief that stepping down is in the best interest of his party and the country.
&#8220;It has been the greatest honor of my life to serve as your President&#8230; I believe it is in the best interest of my party and the country for me to stand down,&#8221; he wrote. Biden has <a href="https://twitter.com/JoeBiden/status/1815087772216303933">endorsed Vice </a><a href="https://twitter.com/JoeBiden/status/1815087772216303933">President Kamala Harris</a> for the Democratic presidential nomination, leading to potential shifts in the political landscape and regulatory environment.
<h3 class="wp-block-heading">Impact on VanEck&#8217;s Solana ETF Proposal</h3>
So, what does this mean for the future of cryptocurrency? Matthew Sigel, head of digital assets research at VanEck, recently confirmed that the firm's proposal for a Solana spot ETF is <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39598039/vanecks-solana-etf-proposal-dependent-on-trumps-presidential-win-matthew-sigel-confirms">contingent on the outcome of the 2024 presidential elections</a>. The application deadline for the ETF is set for March 2025. Sigel stated, &#8220;Can confirm,&#8221; indicating the importance of the election results for the proposal&#8217;s success.
<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/2024/07/21145238/905735A6-57D3-4874-9AA1-75D037842DB3-1-13.gif" alt="" class="wp-image-447438" style="width:322px;height:auto" /></a></figure>
Analysts suggest that the ETF&#8217;s approval chances would increase if a Republican administration, like former president Donald Trump, replaced the current leadership, potentially appointing a new SEC chair. Current SEC Chair Gary Gensler has been critical of various crypto regulations, which has drawn significant attention from the industry.
<h3 class="wp-block-heading">Regulatory Challenges and Market Reactions</h3>
The likelihood of VanEck's Solana ETF approval is closely tied to potential changes in SEC leadership. Gensler has been vocal against parts of the FIT21 Crypto Bill, which he believes could create regulatory gaps. This stance has faced criticism from the crypto community, including from <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38814794/billionaire-shark-mark-cuban-warns-the-secs-anti-crypto-stance-could-cost-biden-the-electi">renowned investor Mark Cuban</a>. The regulatory environment remains a critical factor in the approval process for such ETFs.
Following VanEck's ETF filing, <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39528468/vaneck-files-solana-etf-application-sol-rallies-6">Solana's price surged by 6%</a>. The asset has seen a significant increase in value, outpacing both Bitcoin and Ethereum over a recent seven-day period. Another firm, 21Shares, also announced a<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39555344/21shares-becomes-the-next-fund-filing-for-a-solana-spot-etf"> similar ETF application</a>, further contributing to the upward trend in Solana's price.
<h3 class="wp-block-heading">Benzinga's Future of Digital Assets Event in Focus</h3>
These developments will be a major point of discussion at <a href="https://www.benzinga.com/events/digital-assets/">Benzinga's Future of Digital Assets </a>event in November, which will occur after the election results. The event, set to take place in New York City, will gather digital asset innovators and industry leaders to explore the future of money. 
With over 1,000 capital markets leaders expected to attend, the event promises extensive networking opportunities and in-depth discussions on the evolution of alternative assets.
President Biden&#8217;s decision not to run for reelection and his endorsement of Harris introduce new dynamics in the regulatory outlook for cryptocurrency ETFs. As the industry anticipates potential shifts in SEC leadership, the upcoming Benzinga's Future of Digital Assets event will offer valuable opportunities to understand and navigate these changes. The event will be crucial for those looking to stay informed and connected in the rapidly evolving digital assets space.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39884149/michelle-obama-for-democratic-nominee-crypto-bettors-think-her-odds-have-just-tripled">Michelle Obama For Democratic Nominee? Crypto Bettors Think Her Odds Have Just Tripled</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

Biden Withdraws From 2024 Race: What That Means For Solana ETF Prospects

President Joe Biden's announcement not to seek reelection has caused ripple effects in betting markets and <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866311/biden-inspired-boden-meme-coin-keeps-plummeting-but-harris-newsom-coins-surge-on-nominee-s">PoliFi meme coins.</a>
What Happened: Polymarket trader &#8216;AnonBidenBull&#8217; lost $2 million betting on the President to become the Democratic nominee for the 2024 election, winning the Presidential election and the popular vote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#39;AnonBidenBull&#39; just lost $2,000,000. <a href="https://t.co/MGAoUKOx0K">pic.twitter.com/MGAoUKOx0K</a>
&mdash; Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1815115526043017727?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On the other hand, popular Polymarket trader &#8216;Domer&#8217; <a href="https://x.com/Domahhhh/status/1815089259449344193">reported</a> a profit of around $800,000 on betting Joe Biden to drop out of the race.
Yet another <a href="https://x.com/Polymarket/status/1815121331773440393">trader</a> wagered $12,500 on Kamala Harris to become the 2024 Democratic nominee, seeing their position&#8217;s value skyrocket by over 6,000% to nearly $769,000. Polymarket currently estimates Harris&#8217; odds at 79%.
<figure class="wp-block-image size-full"><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" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39880291/president-bidens-exit-followed-nearly-80m-in-wagers-on-crypto-prediction-market-polymarket">President Biden&#8217;s Exit Followed Nearly $80M In Wagers On Crypto Prediction Market Polymarket</a>
Why It Matters: These incidents underscore the inherent risks associated with prediction markets like Polymarket, where outcomes are highly dependent on unpredictable political events. The recent surge in activity on Polymarket, particularly from crypto traders, indicates a growing interest in these markets, despite the risks.
Crypto trader Toby <a href="https://x.com/clippedtoby/status/1815090179666788481">tweeted</a> the story of a trader who switched his $8 million investment from Jupiter (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JUP</a>) to Biden-themed meme coin Jeo Boden (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BODEN</a>) at the latter's peak. Later he sold $12,500 worth of shares but held on to the rest. Currently, he is down 98% on the bet, turning the initial $8 million into $85,000. "Rich people can also be incredibly stupid," the trader commented on the example.
<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">Reminder: Rich people can also be incredibly stupid. This trader TWAP&#39;d out of $8m worth of <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$JUP</a> for <a href="https://twitter.com/search?q=%24BODEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BODEN</a> at the pico top of Boden. He then sold $12.5k worth (0.5% of total) but bagheld the rest to now, where he is down near to 98%. His $8m is now worth about $85k at… <a href="https://t.co/w4jAvInuBB">pic.twitter.com/w4jAvInuBB</a>
&mdash; toby (@clippedtoby) <a href="https://twitter.com/clippedtoby/status/1815090179666788481?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Another trader <a href="https://x.com/trading_vapor/status/1815355930881425530">highlighted</a> this downtrend as "the very reason why you don&#8217;t want to hold memes that are too specific or tied to a particular." He suggested that unique and universal memes are a better option.
What&#8217;s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a style="font-weight: bold;" href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875286/bidens-odds-of-finishing-term-drop-sharply-on-crypto-prediction-market-coin-themed-after-p">Biden&#8217;s Odds Of Finishing Term Drop Sharply On Crypto Prediction Market, Coin Themed After President Bleeds 60%</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence with Midjourney.

$BODEN

$JUP

Meet The Traders Who Lost $2M And $8M Betting On Biden And The 'Jeo Boden' Meme Coin

Oppenheimer analyst Jed Kelly maintains Booking Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) with a Outperform and raises the price target from $4200 to $4600.

BKNG

Oppenheimer Maintains Outperform on Booking Holdings, Raises Price Target to $4600

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Friday, February 28, 2020