GRAYSCALE CHAINLINK TR by Grayscale Chainlink Trust (LINK) Stock (OTC: GLNK)

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GRAYSCALE CHAINLINK TR by Grayscale Chainlink Trust (LINK)

GLNK

Grayscale Chainlink Trust (OTCQB: GLNK) is currently trading at a 200% premium to spot prices, indicating high institutional demand. Chainlink community ambassador @ChainLinkGod highlighted the growth on his X handle.

Chainlink Attracts Institutional Giants, Driving Grayscale Trust Premium Sky-High

Baird analyst Garrett Holland maintains Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) with a Outperform and raises the price target from $140 to $155.

News

Price Target

Analyst Ratings

Baird Maintains Outperform on Ryder System, Raises Price Target to $155

HC Wainwright &amp; Co. analyst Scott Buck reiterates AudioEye (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) with a Buy and maintains $23 price target.

Reiteration

AEYE

HC Wainwright & Co. Reiterates Buy on AudioEye, Maintains $23 Price Target

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Ovid Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OVID#NASDAQ">OVID</a>) with a Buy and maintains $3 price target.

OVID

HC Wainwright & Co. Reiterates Buy on Ovid Therapeutics, Maintains $3 Price Target

Baird analyst David Manthey maintains Pool (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) with a Neutral and raises the price target from $305 to $377.

POOL

Baird Maintains Neutral on Pool, Raises Price Target to $377

Baird analyst Craig Kennison maintains LKQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) with a Outperform and lowers the price target from $54 to $50.

Baird Maintains Outperform on LKQ, Lowers Price Target to $50

In a remarkable development, BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFIIW#NASDAQ">BFIIW</a>), often referred to as &#8220;Upstate McDonald&#8217;s,&#8221; saw its stock surge by a staggering 93% in pre-market trading on Friday. This significant spike followed the news of the company&#8217;s lawsuit settlement with Lion Point Capital, LP.
What Happened: BurgerFi&#8217;s BFI was trading almost 93% higher on Friday during the pre-market at $0.4120 after closing at $0.2131 on Thursday while BFIIW was trading 86.72% higher at $.045 as compared to previous day&#8217;s close at $0.024, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
The lawsuit was filed by Lion Point on Aug. 26, 2022, alleging that the operator of Anthony's Coal Fired Pizza &amp; Wings and the BurgerFi brand had violated their agreement by failing to register its shares in a timely manner. The settlement, which does not include any admission of fault by either party, is designed to avoid further litigation costs and risks.
See Also: <a href="https://www.benzinga.com/news/24/07/39975168/nikki-haley-says-democrats-are-very-smart-to-put-in-a-younger-candidate-against-trump-but-kamala-har?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nikki Haley Says &#8216;Democrats Are Very Smart To Put In A Younger Candidate&#8217; Against Trump But Kamala Harris Is The &#8216;Weakest Candidate&#8217;</a>
As part of the settlement, BurgerFi will pay Lion Point $1,350,000 in scheduled installments and issue 300,000 shares of Series A Preferred Stock. David Heidecorn, Chairman of the Board of BurgerFi, expressed relief at resolving the matter and stated the company&#8217;s focus on exploring strategic alternatives for the benefit of stakeholders.
Why It Matters: BurgerFi is recognized for its fast-casual &#8220;better burger&#8221; concept and premium-casual dining restaurants. The company operates 162 locations, including 60 Anthony's restaurants and 102 BurgerFi restaurants. The company has received various accolades, such as &#8220;The Very Best Burger&#8221; at the 2023 SOBE Wine and Food Festival and &#8220;Best Fast Casual Restaurant&#8221; in USA Today&#8217;s 10Best 2023 Readers&#8217; Choice Awards.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39957078/trump-vs-harris-new-poll-shows-close-race-but-vice-president-could-benefit-from-dramatic-shifts-amon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Close Race, But Vice President Could Benefit From &#8216;Dramatic Shifts&#8217; Among These Key Voter Groups</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>
Image via Tampa Bay Rays

Pre-Market Outlook

General

BFIIW

'Upstate McDonald's' BurgerFi's Stock Skyrockets Over 90% In Pre-Market Following $1.35M Lawsuit Settlement With Lion Point

and work with the relevant authorities to ensure this treatment is available for eligible people living with early AD in the European Union (EU) as soon as possible.

Biotech

Large Cap

Health Care

BIIB

ESALF

The Committee For Medicinal Products For Human Use Of The European Medicines Agency Has Adopted Negative Opinion On Approval Of Eisai/Biogen's Lecanemab As Treatment For Early Alzheimer's Disease, Eisai Said It Will Seek Re-Examination Of The Opinion

Jefferies analyst Anna Glaessgen downgrades Brunswick (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BC#NYSE">BC</a>) from Buy to Hold and lowers the price target from $115 to $70.

Downgrades

Jefferies Downgrades Brunswick to Hold, Lowers Price Target to $70

Baird analyst Michael Halloran maintains Graco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGG#NYSE">GGG</a>) with a Neutral and lowers the price target from $87 to $86.

Baird Maintains Neutral on Graco, Lowers Price Target to $86

Baird analyst Timothy Wojs maintains Carrier Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) with a Outperform and lowers the price target from $75 to $74.

CARR

Baird Maintains Outperform on Carrier Global, Lowers Price Target to $74

Baird analyst Luke Junk maintains Allison Transmission (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALSN#NYSE">ALSN</a>) with a Neutral and raises the price target from $87 to $90.

ALSN

Baird Maintains Neutral on Allison Transmission, Raises Price Target to $90

HC Wainwright &amp; Co. analyst Ed Arce reiterates Mirum Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRM#NASDAQ">MIRM</a>) with a Buy and maintains $66 price target.

MIRM

HC Wainwright & Co. Reiterates Buy on Mirum Pharmaceuticals, Maintains $66 Price Target

Jefferies analyst Dushyant Ailani maintains Darling Ingredients (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAR#NYSE">DAR</a>) with a Buy and lowers the price target from $53 to $47.

Jefferies Maintains Buy on Darling Ingredients, Lowers Price Target to $47

Sony Group Corporation American Depositary Shares

SONY

Apollo Says Provided $700M Capital Solution To Sony Music Group For Investments In The Music Industry

As of July 26, 2024, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>)</h3>
<ul>
<li>On July 23, Nabors Industries posted better-than-expected quarterly sales. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, &#8220;Our second quarter operating results were better than we expected. This performance was driven by growth and higher average daily margins in our International Drilling segment, as well as stronger performance in our Drilling Solutions and Rig Technologies segments.&#8221; The company's stock gained around 45% over the past month and has a <a href="https://www.benzinga.com/quote/NBR">52-week high of $141.47</a>.</li>
<li>RSI Value: 76.76&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>NBR Price Action: Shares of Nabors Industries gained 12.7% to close at $100.81 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">VAALCO Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGY#NYSE">EGY</a>)</h3>
<ul>
<li>VAALCO Energy will issue its second quarter earnings release on Tuesday, Aug. 6, after the closing bell. The company's stock gained around 13% over the past month and <a href="https://www.benzinga.com/quote/EGY">has a 52-week high </a>of $7.50.</li>
<li>RSI Value: 70.27</li>
<li>EGY Price Action: Shares of VAALCO Energy gained 2.9% to close at $7.20 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Oceaneering International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>)</h3>
<ul>
<li>On July 24, Oceaneering International posted better-than-expected quarterly sales. Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, &#8220;Activity levels in our energy-related businesses, led by Subsea Robotics (SSR), increased and outperformed our expectations. Our adjusted EBITDA was in line with our guidance and consensus estimates.&#8221; The company's stock gained around 28% over the past month and has a <a href="https://www.benzinga.com/quote/OII">52-week high</a> of $29.17.</li>
<li>RSI Value: 75.67</li>
<li>OII Price Action: Shares of Oceaneering International gained 13.8% to close at $28.95 on Thursday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39978094/s-p-500-nasdaq-settle-lower-as-tech-stocks-continue-to-falter-greed-index-in-fear-zone">S&amp;P 500, Nasdaq Settle Lower As Tech Stocks Continue To Falter: Greed Index In &#8216;Fear&#8217; Zone</a></li>
</ul>

Short Ideas

Trading Ideas

Top 3 Energy Stocks That May Implode This Quarter

Baird analyst Colleen Kusy maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Outperform and lowers the price target from $100 to $86.

APLS

Baird Maintains Outperform on Apellis Pharmaceuticals, Lowers Price Target to $86

<a href="https://www.reuters.com/business/retail-consumer/walmart-looks-bet-200-mln-autonomous-forklifts-sources-2024-07-26/" title="https://www.reuters.com/business/retail-consumer/walmart-looks-bet-200-mln-autonomous-forklifts-sources-2024-07-26/">https://www.reuters.com/business/retail-consumer/walmart-looks-bet-200-mln-autonomous-forklifts-sources-2024-07-26/</a>

Reuters Reported Walmart Has Plans To Potentially Spend $200M On Self-driving Forklifts

Baird analyst David George maintains Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) with a Neutral and lowers the price target from $27 to $25.

Baird Maintains Neutral on Associated Banc, Lowers Price Target to $25

&nbsp;International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) (&quot;IGT&quot;) and Everi Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVRI#NYSE">EVRI</a>) (&quot;Everi&quot;) today announced that they have entered into definitive agreements whereby IGT&#39;s Gaming &amp; Digital business (&quot;IGT Gaming&quot;) and Everi will be simultaneously acquired by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) (&quot;Apollo&quot;) (the &quot;Apollo Funds&quot;) in an all-cash transaction that values the acquired businesses at approximately&nbsp;$6.3 billion&nbsp;on a combined basis.

EVRI

Announced Thursday, IGT's Gaming and Digital Business and Everi To Be Acquired By Apollo Funds in All-Cash Transaction; Everi Stockholders To Receive $14.25/ Share in Cash;  IGT To Receive $4.05B Of Gross Cash Proceeds

Canaccord Genuity analyst William Plovanic maintains DexCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) with a Buy and lowers the price target from $145 to $89.

DXCM

Canaccord Genuity Maintains Buy on DexCom, Lowers Price Target to $89

Bitwise 10 Crypto Index Fund: Another U.S. Listed Crypto Arbitrage Building Block

BITO

BITW

ETHE

GBTC

GSOL

LTCN

Press Releases

OTC Markets Group Upgrades Three Grayscale Products to OTCQX

GLIV

OTCM

Grayscale Chainlink Trust (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/GLNK#OTCQB">GLNK</a>) is currently trading at a 200% premium to spot prices, indicating high institutional demand. Chainlink community ambassador @ChainLinkGod highlighted the growth&nbsp;on his X handle.

<blockquote class="twitter-tweet">
Grayscale Chainlink Trust <a href="https://twitter.com/search?q=%24GLNK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GLNK</a> trading at a 200%+ premium over spot &#129300; 
 
$39 per share, with 0.93482160 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> per share <a href="https://t.co/0dxljSDzQ8">pic.twitter.com/0dxljSDzQ8</a>
&mdash; ChainLinkGod.eth (@ChainLinkGod) <a href="https://twitter.com/ChainLinkGod/status/1722053266043724107?ref_src=twsrc%5Etfw">November 8, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

GLNK is a regulated product enabling U.S. investors to gain exposure to Chainlink&rsquo;s LINK&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) token. Each share holds just $12 worth of LINK which makes it almost three times more expensive than the actual value of held assets, CoinDesk <a href="https://www.coindesk.com/markets/2023/11/08/grayscale-chainlink-trust-zooms-to-200-premium-indicating-institutional-demand-for-link/?_gl=1&#x2A;eug8mx&#x2A;_up&#x2A;MQ..&#x2A;_ga&#x2A;MTE0MDQwODQ4MS4xNjk5NDQxOTA2&#x2A;_ga_VM3STRYVN8&#x2A;MTY5OTQ0MTkwNS4xLjAuMTY5OTQ0MTkwNS4wLjAuMA..">reports</a>. The trust holds around $4 million worth of LINK and was released in May 2022.

Rising institutional demand has been pushing crypto token prices higher. This would be one of the many topics of discussion at Benzinga&rsquo;s <a href="https://www.benzinga.com/events/digital-assets/?UTM_source=article">Future Of Digital Assets Event</a> in New York scheduled on Nov.14. Attend and learn more about Chainlink and the Grayscale Chainlink Trust. The gathering is seen as pivotal for the digital assets community.&nbsp;The event will spotlight the latest trends, innovations,&nbsp;and challenges in the digital asset realm.

While historically GLNK has reported a premium of more than 20%, premiums have increased to almost 150% over two separate instances.

Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34988955/cross-chain-interoperability-made-easy-with-chainlink-protocol-on-bnb-chain">Cross-Chain Interoperability Made Easy With Chainlink Protocol On BNB Chain</a>

Why It Matters:&nbsp;Grayscale Trust offerings stand out as the initial investment instruments in their category to file financial statements with the SEC. CoinDesk reports that this aspect positions them as a secure investment to capitalize on the increasing adoption of tokenization of tangible assets, according to some experts.

Industry titans&nbsp;BlackRock,&nbsp;DTCC,&nbsp;OCC,&nbsp;State Street,&nbsp;Soci&eacute;t&eacute; G&eacute;n&eacute;rale,&nbsp;Hedera,&nbsp;Citi,&nbsp;BMO,&nbsp;Northern Trust,&nbsp;Citibank,&nbsp;Amazon,&nbsp;S&amp;P Global,&nbsp;Google,&nbsp;Invesco, and&nbsp;Moody&rsquo;s&nbsp;will join our November 13&nbsp;<a href="https://www.benzinga.com/go/Fintech-article-link" target="_blank">Fintech Deal Day</a>&nbsp;and November 14&nbsp;<a href="https://www.benzinga.com/go/crypto-conference-article-link" target="_blank">Future of Digital Assets</a>. Secure a spot here to join them. 

Notably, Grayscale&rsquo;s trust shares cannot be redeemable for the underlying asset they track, implying investors can only exit their position by selling their shares to a buyer.

Optimism may also stem from Grayscale&#39;s application to transform its Bitcoin trust into a Bitcoin ETF, a move that could receive regulatory approval in the near future.

Price Action: Shares of GLNK were up 35% on Wednesday to $52.95, while LINK is up 10.7% in the past 24 hours.

Read More: <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35655427/hong-kongs-hashkey-exchange-lists-this-top-20-token-for-professional-trading">Hong Kong&#39;s HashKey Exchange Lists This Top 20 Token For Professional Trading</a>

Photo: Shutterstock

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GRAYSCALE CHAINLINK TR by Grayscale Chainlink Trust (LINK)

News

Latest news for GRAYSCALE CHAINLINK TR by Grayscale Chainlink Trust (LINK) (OTC:GLNK) Stock

Wednesday, November 08, 2023