Latest news for ispace (OTC:IPCEF) Stock

ispace inc is a private lunar robotic exploration company that is developing micro-robotic technology to provide a low-cost and frequent transportation service. It has developed a small lander (lunar lander) and a lunar exploration rover (lunar rover) for the purpose of providing frequent and low-cost transportation services to the moon.

ispace inc

As <a href="https://www.benzinga.com//node/39583371">cities in the U.S. continue to break their historical heat records</a>, workers, lawmakers and businesses across the country are launching a debate: should the state grant protections for workers in extreme heat conditions?
Most of the country has been under heat alerts since rising temperatures began breaking comfortable levels in early July.
On Tuesday, meteorologists began warning people living in Midwestern and East Coast states. An upcoming heat wave is expected to break records in many cities, putting 140 million Americans under heat alert.
Earlier this month, at least 50 cities saw their historical heat records broken by a heat wave that affected most of the Southwest. Palm Springs, California and Las Vegas reached 124 and 120 degrees Fahrenheit, respectively, <a href="https://www.usatoday.com/story/news/weather/2024/07/11/temperature-records-heat-wave-west/74372547007/">USA Today </a>reported.
Many cities and localities in the East Coast are expected to surpass their historical average highs on this week.
The trend is global, with the last 13 months marking the highest temperatures on record for that month, according to official EU data from the Copernicus Programme.
The upcoming heat wave in the U.S. is expected to be dangerously lethal. At least 28 people have died this summer due to extreme heat events, according to a <a href="https://www.washingtonpost.com/climate-environment/2024/07/10/heat-wave-us-death-toll/">report</a> by the Washington Post.
<h3 class="wp-block-heading">Should Workers Have Federal, State Protections For Heat Risk?</h3>
Rising temperatures across the globe are forcing people to change their living habits, including how many hours of the day they can spend outside without air conditioning.
This has serious consequences for work, especially in sectors that require workers to be exposed to high temperatures under the sun for an extended period of time.
These encompass delivery and postal workers, the construction and agriculture sectors as well as those working in infrastructure repairs and gardening in urban environments, among others.
Read Also: <a href="https://www.benzinga.com//node/39799850">5 Things You Might Not Know About J.D. Vance: &#8216;Hillbilly Elegy&#8217; Author, Bitcoin Holder, First Millennial VP Pick And More</a>
Health risks for workers include "heat exhaustion and heat stroke, occupational injuries from high heat exposure such as burns or falls from dizziness, and exacerbation of preexisting conditions such as asthma, kidney disease, or heart disease," according to reports by the Center for Disease Control and the Occupational Safety and Health Administration (OSHA).
Earlier this month, the Biden administration proposed a new rule that, for the first time, could introduce protections for workers exposed to health risks due to rising heat levels, whether outdoors or indoors.
The proposal comes from OSHA, and outlines actions that employers should take to protect their employees from heat risks. If finalized, the rule could add protections for 35 million employees nationwide.
"The purpose of this rule is simple. It is to significantly reduce the number of work-related deaths, injuries and illnesses suffered by workers who are exposed to excessive heat and exposed to these risks while simply doing their jobs," an administration official told reporters on a press call, <a href="https://www.washingtonpost.com/climate-environment/2024/07/02/osha-workers-extreme-heat-protections/">according</a> to the Post.
The rule would introduce actions that employers must fulfill if the weather passes two specific temperature marks. Above 80 degrees Fahrenheit, employers must offer drinking water and break areas, as well as plan out the work schedule in an incremental rhythm for the bodies of workers to adapt to the heat.
At 90 degrees, employees must be monitored for signs of heat illness and take mandatory 15-minute breaks every two hours.
No federal heat protection law is in place, and only five states exercise worker safety precautions: California, Colorado, Minnesota, Oregon and Washington.
The timeline for OSHA's proposal would make it final by 2026. Its rollout will largely <a href="https://www.benzinga.com/general/politics/24/07/39780356/trumps-2024-election-betting-odds-hit-record-high-after-assassination-attempt-payouts-for-ex-pre">depend on who wins the U.S. presidency in November</a>. A victory for Donald Trump would likely threaten its existence.
High-profile Republicans have voiced opposition to worker protections for heat risk. Republicans have traditionally stood against policies related to climate change that are liable to impact businesses or industries.
In Florida, where some of the highest temperatures in the country have registered in recent years, Gov. Ron DeSantis, a Republican, recently signed a piece of legislation barring local governments from raising protections for workers exposed to heat.
Texas had passed a similar bill the previous year, which was dubbed the "Death Star law." The bill was ruled unconstitutional by a judge, after Houston, El Paso and San Antonio presented lawsuits against it.
<h3 class="wp-block-heading">Industry Impacts</h3>
Progressive voices like the Center for American Progress have written that exposing workers to heat risk can have bad consequences for the economy, including "lost worker productivity, increased health care costs and worker compensation claims, and threats to workers' financial stability from missing work."
For conservatives, adding protections for workers can reduce productivity for businesses and lead to a loss in competitiveness.
Business groups lobbying against the OSHA rule argue that trigger temperatures proposed by the rule should not be set as a blanket policy nationwide, as workers from different parts of the country have different tolerance thresholds for heat.
For workers in Florida, "an 80-degree threshold for them isn't going to be considered hot," said Prianka Sharma, vice president and counsel for regulatory affairs for The American Road &amp; Transportation Builders Association.
Multiple ETFs follow industries that can be affected by changes in policy around heat risk.
iShares US Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) is the largest ETF by total assets following the construction industry. It's followed by SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) and the Invesco Building &amp; Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>).
Agriculture is another major sector that affected by the heat issue. The Invesco DB Agriculture Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBA#NYSE">DBA</a>) leads the list by total assets, with Teucrium Wheat Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEAT#NYSE">WEAT</a>) and First Trust Alternative Absolute Return Strat ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAAR#NASDAQ">FAAR</a>) next.
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<li><a href="https://www.benzinga.com//node/39794934">3 Under-the-Radar Clean Energy Stocks With Upside Potential, Regardless Of Who&#8217;s In The White House</a></li>
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WEAT

As Scorching Temperatures Break Records Across The US, Fight For Worker Protections In Extreme Heat Hinges On 2024 Election Outcome

Investors with a lot of money to spend have taken a bullish stance on Alnylam Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ALNY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Alnylam Pharmaceuticals.
This isn't normal.
The overall sentiment of these big-money traders is split between 78% bullish and 14%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,280, and 13, calls, for a total amount of $2,767,370.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $175.0 and $330.0 for Alnylam Pharmaceuticals, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Alnylam Pharmaceuticals's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Alnylam Pharmaceuticals's whale trades within a strike price range from $175.0 to $330.0 in the last 30 days. 
<h3>Alnylam Pharmaceuticals 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721161894_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ALNY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$75.2</td>
<td>$73.7</td>
<td>$75.2</td>
<td>$180.00</td>
<td>$383.5K</td>
<td style="text-align: right;">595</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>ALNY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$76.0</td>
<td>$73.7</td>
<td>$76.0</td>
<td>$180.00</td>
<td>$334.4K</td>
<td style="text-align: right;">595</td>
<td style="text-align: right;">400</td>
</tr>
<tr>
<td>ALNY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$75.0</td>
<td>$73.7</td>
<td>$75.0</td>
<td>$180.00</td>
<td>$330.0K</td>
<td style="text-align: right;">595</td>
<td style="text-align: right;">324</td>
</tr>
<tr>
<td>ALNY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$75.0</td>
<td>$73.6</td>
<td>$75.0</td>
<td>$180.00</td>
<td>$330.0K</td>
<td style="text-align: right;">595</td>
<td style="text-align: right;">280</td>
</tr>
<tr>
<td>ALNY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$76.3</td>
<td>$75.0</td>
<td>$76.3</td>
<td>$180.00</td>
<td>$305.2K</td>
<td style="text-align: right;">595</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>

<h3>About Alnylam Pharmaceuticals</h3>
Alnylam Pharmaceuticals is a leader in the study of RNA interference (RNAi) therapeutics. RNAi is a naturally occurring biological pathway within cells for sequence-specific silencing and regulation of gene expression. Alnylam has five drugs on the market: Onpattro and Amvuttra for hATTR amyloidosis, Givlaari for acute hepatic porphyria, Oxlumo for primary hyperoxaluria type 1, and Leqvio for hypercholesterolemia. It also has several clinical programs across various therapeutic areas: genetic medicines; cardio-metabolic diseases; hepatic infectious diseases, and CNS/ocular diseases. Upfront fees from research partnerships have boosted Alnylam's cash levels, and the company stands to see additional milestones and royalties from drugs commercialized under collaboration partnerships.
After a thorough review of the options trading surrounding Alnylam Pharmaceuticals, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Alnylam Pharmaceuticals's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 1,133,899, the ALNY's price is down by -2.48%, now at $249.83. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 16 days.</li>
</ul>
<h3>Expert Opinions on Alnylam Pharmaceuticals</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $271.2.
<ul>
<li>Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $150.</li>
<li>An analyst from HC Wainwright &amp; Co. has revised its rating downward to Buy, adjusting the price target to $400. </li>
<li>An analyst from RBC Capital persists with their Outperform rating on Alnylam Pharmaceuticals, maintaining a target price of $265. </li>
<li>Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Alnylam Pharmaceuticals, targeting a price of $250. </li>
<li>Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Alnylam Pharmaceuticals, targeting a price of $291. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Alnylam Pharmaceuticals, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

ALNY

Spotlight on Alnylam Pharmaceuticals: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on Airbnb. Our analysis of options history for Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) revealed 21 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $136,290, and 18 were calls, valued at $1,061,510.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $240.0 for Airbnb over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Airbnb's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Airbnb's substantial trades, within a strike price spectrum from $115.0 to $240.0 over the preceding 30 days.
<h3>Airbnb 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721161889_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ABNB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$31.1</td>
<td>$31.05</td>
<td>$31.05</td>
<td>$150.00</td>
<td>$139.7K</td>
<td>448</td>
<td style="text-align: right;">4</td>
</tr>
<tr>
<td>ABNB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$13.6</td>
<td>$13.45</td>
<td>$13.45</td>
<td>$150.00</td>
<td>$130.4K</td>
<td>208</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ABNB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$23.95</td>
<td>$22.95</td>
<td>$23.6</td>
<td>$135.00</td>
<td>$127.4K</td>
<td>129</td>
<td style="text-align: right;">42</td>
</tr>
<tr>
<td>ABNB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$36.95</td>
<td>$35.6</td>
<td>$36.55</td>
<td>$120.00</td>
<td>$73.1K</td>
<td>1.6K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ABNB</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$8.85</td>
<td>$8.65</td>
<td>$8.75</td>
<td>$145.00</td>
<td>$72.6K</td>
<td>649</td>
<td style="text-align: right;">22</td>
</tr>
</tbody>
</table>

<h3>About Airbnb</h3>
Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences. Airbnb's platform offered 7.7 million active accommodation listings as of Dec. 31, 2023. Listings from the company's over 5 million hosts are spread over almost every country in the world. In 2023, 50% of revenue was from the North American region. Transaction fees for online bookings account for all its revenue.
In light of the recent options history for Airbnb, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Airbnb Standing Right Now?</h3>
<ul>
<li>With a volume of 4,029,165, the price of ABNB is up 2.74% at $151.26. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 16 days.</li>
</ul>
<h3>What The Experts Say On Airbnb</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $129.0.
<ul>
<li>Consistent in their evaluation, an analyst from Wells Fargo keeps a Underweight rating on Airbnb with a target price of $129. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Airbnb, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

ABNB

Behind the Scenes of Airbnb's Latest Options Trends

Investors with a lot of money to spend have taken a bearish stance on Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with VZ, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for Verizon Communications.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 44%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $141,568, and 7 are calls, for a total amount of $514,354.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $45.0 for Verizon Communications, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Verizon Communications's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Verizon Communications's significant trades, within a strike price range of $35.0 to $45.0, over the past month.
<h3>Verizon Communications Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721161884_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>VZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$1.46</td>
<td>$1.44</td>
<td>$1.45</td>
<td>$40.00</td>
<td>$131.1K</td>
<td>4.9K</td>
<td style="text-align: right;">302</td>
</tr>
<tr>
<td>VZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$0.65</td>
<td>$0.62</td>
<td>$0.65</td>
<td>$41.50</td>
<td>$102.7K</td>
<td>1.6K</td>
<td style="text-align: right;">71</td>
</tr>
<tr>
<td>VZ</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$3.75</td>
<td>$3.65</td>
<td>$3.75</td>
<td>$42.00</td>
<td>$100.5K</td>
<td>729</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>VZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/02/24</td>
<td>$0.8</td>
<td>$0.74</td>
<td>$0.74</td>
<td>$41.50</td>
<td>$72.1K</td>
<td>5</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>VZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.2</td>
<td>$7.15</td>
<td>$7.15</td>
<td>$35.00</td>
<td>$71.5K</td>
<td>12.4K</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Verizon Communications</h3>
Wireless services account for about 70% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 21 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 29 million homes and businesses and serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks.
Following our analysis of the options activities associated with Verizon Communications, we pivot to a closer look at the company's own performance.
<h3>Where Is Verizon Communications Standing Right Now?</h3>
<ul>
<li>With a volume of 15,559,676, the price of VZ is up 1.52% at $41.41. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 6 days.</li>
</ul>
<h3>Expert Opinions on Verizon Communications</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $46.5.
<ul>
<li>An analyst from Scotiabank persists with their Sector Perform rating on Verizon Communications, maintaining a target price of $46. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Verizon Communications options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Verizon Communications Unusual Options Activity

FOXO

FOXO Technologies Receives Non-Compliance NYSE Notice

Contracts

SAVE

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<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/LMLLF">Pharmadrug</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMLLF#OTC">LMLLF</a>) shares closed up 85.78% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/HERTF">Heritage Cannabis Holding</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HERTF#OTC">HERTF</a>) shares closed up 66.67% at $0.001</li>
<li><a href="https://www.benzinga.com/quote/CNGGF">Cann Gr</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNGGF#OTC">CNGGF</a>) shares closed up 37.93% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed up 27.16% at $0.10</li>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed up 25.00% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/KAYS">Kaya Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KAYS#OTC">KAYS</a>) shares closed up 22.97% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed up 17.19% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed up 12.02% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed up 10.62% at $0.12</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed up 10.45% at $0.37</li>
<li><a href="https://www.benzinga.com/quote/CBWTF">Auxly Cannabis Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) shares closed up 8.56% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/SMG">Scotts Miracle Gro</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) shares closed up 7.53% at $66.70</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed up 7.38% at $0.27</li>
<li><a href="https://www.benzinga.com/quote/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed up 7.02% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed up 6.09% at $0.87</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed up 4.56% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 4.40% at $1.74</li>
<li><a href="https://www.benzinga.com/quote/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed up 4.29% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed up 4.05% at $2.57</li>
<li><a href="https://www.benzinga.com/quote/CURLF">Curaleaf Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares closed up 3.46% at $4.33</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/MJNE">MJ Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MJNE#OTC">MJNE</a>) shares closed down 34.48% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed down 23.72% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/BBRRF">Blueberries Medical</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBRRF#OTC">BBRRF</a>) shares closed down 15.27% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/ITHUF">iAnthus Capital Hldgs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) shares closed down 13.62% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/FUAPF">Global Compliance</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUAPF#OTC">FUAPF</a>) shares closed down 8.91% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed down 4.76% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Props</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed down 4.62% at $0.62</li>
<li><a href="https://www.benzinga.com/quote/UGRO">Urban-gro</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) shares closed down 3.40% at $1.54</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cannabis

Movers

BBRRF

BMMJ

CARA

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CLSH

CNBX

CNGGF

CNTMF

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

CVSI

CXXIF

ELLXF

FFNTF

FUAPF

GRWG

HERTF

ITHUF

KAYS

LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

LBUY

LMLLF

LVRLF

MJNE

MRMD

UGRO

XXII

ZDPY

Bullish Sentiment Across The Cannabis Space - Check Full Movers For July 16, 2024

WIIM

JBHT

J.B. Hunt Transport Services shares are trading lower after the company reported worse-than-expected Q2 financial results.

Investor Update as of July 16, 2024
 &nbsp;
The second quarter 2024 and full year 2024 estimates and guidance provided below are based on the current estimates of Spirit Airlines, Inc. ("Spirit" or the "Company") and are not a guarantee of future performance. The Company's unaudited interim condensed consolidated financial statements for the second quarter 2024 are not yet complete and results for second quarter 2024 may vary from these preliminary estimates upon completion of closing procedures and finalization of the unaudited interim financials statements. There are significant risks and uncertainties that could cause actual results to differ materially, including the risk factors discussed in the Company's reports on file with the Securities and Exchange Commission. Spirit undertakes no duty to update any forward-looking statements or estimates.
 &nbsp;
Total revenue for the second quarter 2024 is estimated to be approximately $1.28 billion, lower than previously expected primarily due to lower-than-expected non-ticket revenue. In early May, the Company anticipated there would be significant pressure on leisure ticket yields throughout the second quarter and continuing into the third quarter due to large industry capacity increases. Estimated ticket revenue per segment for the second quarter is in-line with the Company's previous expectations.
 &nbsp;
However, non-ticket revenue for the quarter underperformed the Company's initial estimate. The Company attributes this underperformance to incremental pressure on ancillary pricing due to changes in the competitive marketplace. The Company estimates non-ticket revenue per passenger segment will be about $64 for the second quarter 2024, several dollars lower than anticipated.
 &nbsp;
Spirit has begun to execute on its transformation plan to better align with the current market dynamics. As the Company progresses on its transformation strategy, it anticipates that over time it will be able to drive improvement in total revenue per passenger segment.
 &nbsp;
In March 2024, the Company entered into an agreement with International Aero Engines, LLC ("IAE"), an affiliate of Pratt &amp; Whitney, pursuant to which IAE will provide the Company with a monthly credit from October 1, 2023 through the end of 2024, subject to certain conditions, as compensation for each of the Company's aircraft unavailable for operational service due to geared turbo fan engine issues. Credits issued by Pratt &amp; Whitney based on aircraft on ground ("AOG") days in the fourth quarter 2023 were approximately $26 million. The Company estimates AOG credits to be issued by Pratt &amp; Whitney based on AOG days in the second quarter 2024 of $37 million, bringing the year-to-date estimate through June 30, 2024 to about $68 million. For the second quarter 2024, the Company estimates $7.0 million will be recorded within the Company's condensed consolidated statement of operations, of which an estimated $3.5 million will be recorded as a credit within maintenance, materials and repairs, $2.0 million recorded as aircraft rent and $1.5&nbsp;million recorded as a credit to depreciation and amortization. The Company estimates $52 million will be recorded as a reduction in the cost of assets on the Company's condensed consolidated balance sheet in the second quarter. Year-to-date through June 30, 2024, the Company estimates AOG credits have benefited liquidity by $94 million which includes credits that have been issued related to AOG days in the fourth quarter 2023 and year-to-date through June 30, 2024. For the full year 2024, the Company estimates AOG credits to be issued by Pratt &amp; Whitney will enhance liquidity by approximately $150 to $200 million.
 &nbsp;
Spirit estimates its second quarter 2024 adjusted operating margin will be negative 13.5 percent to negative 12.5 percent. If the Company had recognized all the AOG credits to be received for AOG aircraft in the second quarter 2024, the Company estimates its operating margin would have been negative 11.2 percent to negative 10.2 percent.
 &nbsp;
The Company plans to provide updated estimates for full year 2024 capacity and year-end liquidity when it provides its third quarter 2024 estimates for capacity, revenue and operating income in conjunction with reporting its second quarter earnings results which it plans to do in early August 2024.
 &nbsp;

Earnings

Guidance

Spirit Airlines Sees Total Revenue For Q2 2024 Is Estimated To Be ~$1.28B Vs $1.33B Est.; Estimates Non-Ticket Revenue Per Passenger Segment Will Be About $64 For Q2

After saying he would not donate to Joe Biden or Donald Trump in the 2024 presidential election, Elon Musk has publicly endorsed Trump and is supporting him with millions of dollars reportedly donated to a <a href="https://www.benzinga.com/news/24/07/39784950/elon-musk-to-pour-45m-monthly-in-pro-trump-super-pac-joined-by-palantirs-joe-lonsdale-winklevoss-twi">political action committee.</a>
The donations and support for Trump have led to some questions from investors and analysts given the former president's past criticism of Musk and the electric vehicle sector.
What Happened: Over the past several months, a relationship between Trump and Musk appears to have gained steam and may have led <a href="https://www.benzinga.com/24/07/39763381/elon-musk-discloses-2-attempts-on-his-life-and-endorses-trump-following-rally-shooting-dangerous-tim">to the endorsement </a>and reported donations to a new super PAC called America PAC.
Given past criticism of the electric vehicle sector and climate change, some are questioning Musk's reasons for his donation, which became a hot topic on a <a href="https://www.youtube.com/watch?v=5Cod0YZtKW0">recent episode of "PreMarket Prep."</a>
Co-host Aaron Bry said blue states (Democrats) are more likely to sign for energy storage initiatives than red states (Republicans), which could hurt a company like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Bry said that states could be mad at Musk for his political donations and they could stand in his way and his company's way in the future.
"It does not make sense to me from a business decision," Bry said.
Bry said red states taking money from the oil and gas industry are not going to be that friendly to Tesla and the electric vehicle sector.
"PreMarket Prep" co-host Dennis Dick remarked that this was a valid argument, suggesting Musk might be burning his bridges for the future. He added that Musk likely already has support from blue states for his EV initiatives.
"Burning his own blue bridges to try to pick up the red bridges," Dick said.
Dick said that Musk might be trying to win over everyone and time will tell if it's the right move.
"(He's) playing a game of Monopoly and wants to own all the property."
Dick said it doesn't hurt for Musk to be on the good side of the president. "I don't think it hurts if he thinks Trump is going to win."
The biggest future hurdle for Tesla's robotaxis is likely to be regulatory, Dick added.
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<iframe loading="lazy" title="Could Elon Musk&#039;s Political Donations And Endorsements Harm Tesla&#039;s Business In The Future?" width="500" height="281" src="https://www.youtube.com/embed/5Cod0YZtKW0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Deepwater Asset Management analyst Gene Munster said Musk's endorsement of Trump <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39787013/will-elon-musks-endorsement-of-trump-impact-tesla-this-veteran-analyst-thinks-so-he">could influence Tesla's future.</a>
"The endorsement, while it was predictable and obvious, it does hold some weight if (Tesla) can get a favorable environment around the government," Munster said in a CNBC interview.
Munster said Tesla having a favorable government environment could help with full self-driving (FSD) deployment.
Read Also: <a href="https://www.benzinga.com/news/24/06/39255336/trump-praises-electric-vehicles-elon-musk-in-one-speech-blames-evs-for-destroying-bridges-in-another">Trump Praises Electric Vehicles, Elon Musk In One Speech; Blames EVs For Destroying Bridges In Another</a>
Why It's Important: The new PAC is focused on registering voters and mail-in ballot efforts in swing states, according to the report. The new monthly donation report follows a Bloomberg report that Musk <a href="https://www.benzinga.com/general/politics/24/07/39760652/biden-vs-trump-elon-musk-reportedly-donates-sizable-amount-to-ex-presidents-campaign-expert-call">had donated</a> to America PAC recently.
Musk shared an image on X calling The Wall Street Journal report of the $45 million donation as "fake gnus."
In March 2024, Musk said<a href="https://www.benzinga.com/news/24/03/37525400/elon-musk-says-he-wont-donate-to-either-presidential-candidate-after-a-private-meeting-with-trump-ju"> he would not</a> make any financial contributions to either Trump or Biden.
"Just to be super clear, I am not donating money to either candidate for U.S. President," Musk previously tweeted.
While Trump has publicly criticized the electric vehicle industry, Musk has stated that the former president is a supporter of electric vehicles. Trump has also been reported to be cozying up to <a href="https://www.benzinga.com/news/24/05/38751446/trump-reportedly-seeks-1b-in-campaign-funds-from-exxon-mobil-chevron-other-big-oil-execs-expert-call">the oil and gas industry</a>, a sector that some investors see winning with a Trump return to the White House.
Musk <a href="https://www.benzinga.com/general/politics/24/07/39780777/trump-picks-senator-j-d-vance-as-running-mate-musk-says-great-choice-for-vp">publicly praised the selection</a> of J.D. Vance as Trump's vice-presidential pick Monday.
"Excellent decision by @realDonaldTrump," Musk tweeted.
Musk also said that Vance was a "great choice" in a reply to a post by David Sacks.
The support of Vance as a selection comes as <a href="https://electrek.co/2024/07/15/elon-musk-supports-new-vp-candidate-crush-tesla-sales-us/">Electrek </a>points to the Senator being behind the Drive American Act that would increase prices for electric vehicles and offer incentives for Americans to buy American-made gas-powered and hybrid vehicles.
Trump and Musk have not always had a positive relationship, with Musk criticizing the Truth Social platform that is owned by Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>). Trump also <a href="https://www.benzinga.com/general/22/07/28043288/drop-to-your-knees-and-beg-donald-trump-calls-out-elon-musk-on-truth-social-app-heres-what-he-said">previously targeted Musk,</a> saying that Tesla cars don't drive far enough and cause crashes and SpaceX has rockets that go nowhere.
Musk previously served on Trump's advisory council, but dropped out after Trump announced the withdrawal of the Paris Agreement.
"Climate change is real. Leaving Paris is not good for America or the world," Musk previously said.
Electric vehicle media outlet <a href="https://electrek.co/2024/07/15/just-after-his-huge-stock-grant-elon-musk-commits-45mil-mo-to-harm-evs/">Electrek </a>has been critical of Musk's support for Trump, which comes as Tesla has a mission to "accelerate the world's transition to sustainable energy."
"Missions are opposed by the Republican Party platform Musk is donating to," Electrek writes.
Trump recently praised Musk in a speech while also attacking the electric vehicle sector a few days later, criticizing a lack of chargers and blaming electric trucks as the reason to fix bridges across the country.
Wedbush analyst Dan Ives recently highlighted that a Trump win in the 2024 election <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39727992/tesla-bull-says-trump-win-is-negative-for-ev-industry-but-potential-positive-for-el">could help Tesla.</a>
"We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled, however for Tesla we see this as a potential positive," Ives said.
The analyst said Tesla has a scale and scope unmatched in the sector, and the company can operate in a non-EV subsidy environment. Higher China tariffs, which could be pursued by Trump, would also hurt Tesla&#8217;s electric vehicle competition.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39783196/will-electric-vehicles-reach-50-market-share-in-us-by-2030-new-data-says-yes">Will Electric Vehicles Reach 50% Market Share In US By 2030? New Data Says Yes</a></li>
</ul>
Photo: Shutterstock

Tech

Trading Ideas

TSLA

EXCLUSIVE: Elon Musk Is 'Burning His Own Blue Bridges' By Donating To Trump, Says Market Expert

Interactive Brokers Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) reported its second-quarter financial results Tuesday after the closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/07/b39803222/interactive-brokers-group-announces-2q2024-results">key figures from the report. </a>
The Details: Interactive Brokers reported quarterly sales of $1.29 billion which beat the analyst consensus estimate of $1.262 billion by 2.21% and represents a 29% increase over sales of $1 billion from the same period last year. The company reported quarterly earnings of $1.76 per share, which beat the analyst consensus estimate of $1.74 by 1.15%.
Customer accounts increased 28% to 2.92 million and customer equity increased 36% to $497.2 billion. 
Commission revenue increased 26% to $406 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 26% and 10%, respectively. 
Read Next: <a href="https://www.benzinga.com/news/24/07/39777940/whats-going-on-with-upstart-stock">What&#8217;s Going On With Upstart Stock?</a>
Net interest income increased 14% to $792 million on higher benchmark interest rates, customer margin loans and customer credit balances. Other fees and services increased $21 million, or 45%, to $68 million, driven primarily by increases of $14 million in risk exposure fees and $3 million each in payments for order flow from exchange-mandated programs and FDIC sweep program fees.
Interactive Brokers reported execution, clearing and distribution fees expenses increased 24% to $115 million, driven by higher customer trading volumes and an increase in the SEC fee rate during the current quarter, and the company recognized a loss of approximately $48 million on positions taken over as customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024.
The company&#8217;s board of directors declared a quarterly cash dividend of $0.25 per share payable on Sept. 13, 2024, to shareholders of record as of Aug. 30, 2024.
IBKR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Interactive Brokers shares are up 1.73% after-hours at $125.80 at the time of publication Tuesday.
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">Solar Stocks Tumble Following Failed Assassination Of Trump: What&#8217;s Going On?</a></li>
</ul>
Photo: Courtesy of Interactive Brokers Group, Inc.

After-Hours Center

IBKR

Interactive Brokers Reports Better-Than-Expected Q2 Results, Customer Accounts Increased 28%: The Details

Dave Portnoy has had an eventful year thus far: celebrating his beloved Boston Celtics taking home the team's 18th NBA Championship, attending NFL legend Tom Brady's <a href="https://www.benzinga.com/topic/dave-portnoy">retirement ceremony and more</a>. 
But Portnoy&#8217;s celebratory summer took a frightening turn after he got stranded at sea.
The U.S. Coast Guard eventually helped the Barstool Sports founder tow his boat back to his Nantucket residence. What Happened: Portnoy posted a video on X describing the event, in which his boat lost power in heavy winds. Portnoy, accompanied by his mother, said he unhooked his boat from the buoys without ensuring that the boat had power. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We almost lost Captain Dave to mother ocean today. Thank you to the <a href="https://twitter.com/hashtag/uscoastguard?src=hash&amp;ref_src=twsrc%5Etfw">#uscoastguard</a> for saving Captain Dave&#39;s life. <a href="https://t.co/hF5gYbmkSY">pic.twitter.com/hF5gYbmkSY</a>
&mdash; Dave Portnoy (@stoolpresidente) <a href="https://twitter.com/stoolpresidente/status/1812934922698383580?ref_src=twsrc%5Etfw">July 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Captain Dave third time out made a mistake," Portnoy said in his video. "Captain unhooked himself from the buoy before he turned the boat on to make sure the boat wasn't dead. No power, no anchor, no radio, no nothing. Next thing you know Captain Dave is lost at sea." Portnoy then fired a flare gun into the air in an attempt to gain the attention of others on the water, but that did little to help. Eventually, a woman in what Portnoy said appeared to be a rowboat, came close enough to Portnoy's ship that he was able to yell and get her attention. The woman climbed onto Portnoy's ship and asked to make a TikTok with him. Portnoy told her there was no time for TikToks. But, the woman did have a working radio and was able to contact the Coast Guard. "Captain Dave had to be halfway to the Carribean, just rocking, no power," Portnoy said. "Thankfully Coast Guard, god bless his soul bring me back to my thing, Captain Dave lives to tell another tell." 
Now Read:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39800691/dow-rallies-to-all-time-highs-small-caps-outperform-tech-gold-hits-records-on-heightened-september-" target="_blank" rel="noreferrer noopener">Dow Rallies To All-Time Highs, Small Caps Outperform Tech, Gold Hits Records On Heightened September Rate Cut Bets: What's Driving Markets Tuesday?</a></li>
</ul>

Disaster Averted: Barstool Sports Founder Dave Portnoy Rescued By Coast Guard Near Nantucket

Cryptocurrency markets are trading higher, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39438010/bitcoin-dips-below-64k-triggers-over-100m-in-liquidations-consolidation-phase-ongoing-says">long liquidations spiking</a> to the highest level in over a week.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>$65,168.3</td>
<td>+2.8%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&nbsp;</td>
<td>$3,474.3</td>
<td>+1.7%</td>
</tr>
<tr>
<td>Solana&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>$161.7</td>
<td>+3.8%</td>
</tr>
<tr>
<td>Dogecoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>$0.1259</td>
<td>+3.5%</td>
</tr>
<tr>
<td>Shiba Inu&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>$0.00001954</td>
<td>+5.6%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume increasing 82.2%, while transactions greater than $100,000 surged from 5,590 as of July 14 to 8,516 as of July 15. Notably, 91% of Bitcoin holders are currently in profit, with the remaining 9% at breakeven.</li>
<li>Coinglass data revealed 73,154 traders liquidated in the past 24 hours for $229.3 million. Long liquidations ($91.3 million) peaked at the highest since July 8 levels. Bitcoin open interest ($33.8 billion) also surged to its highest since early July.  </li>
<li>Cryptoquant CEO and founder Ki Young Ju <a href="https://x.com/ki_young_ju/status/1813213660791165119">revealed</a> that the Bitcoin Coinbase price premium peaked at a 3-month high amidst a recovering U.S. market sentiment.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39795530/ethereum-etfs-to-attract-over-5b-in-inflows-but-returns-could-be-lower-than-expected-citi">Ethereum ETFs To Attract Over $5B In Inflows, But Returns Could Be Lower Than Expected: Citi</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39785340/trumps-vice-presidential-pick-j-d-vance-holds-bitcoin-supports-pro-crypto-legislation">Trump&#8217;s Vice Presidential Pick J.D. Vance Holds Bitcoin, Supports Pro-Crypto Legislation</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39785673/michael-dell-calls-bitcoin-fascinating-amid-blackrock-ceos-bullish-stance-tech-billionaire">Michael Dell Calls Bitcoin &#8216;Fascinating&#8217; Amid BlackRock CEO&#8217;s Bullish Stance — Tech Billionaire&#8217;s Crypto Interest Rising?</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39793334/bitcoin-falls-below-63k-recovers-swiftly-to-64k-what-is-going-on">Bitcoin Falls Below $63K, Recovers Swiftly To $64K: What Is Going On?</a></li>
</ul>
<h3 class="wp-block-heading">Top Gainers:</h3>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/–</td>
</tr>
<tr>
<td>Worldcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>)</td>
<td>$2.8</td>
<td>+24.1%</td>
</tr>
<tr>
<td>Core (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CORE</a>)</td>
<td>$1.44</td>
<td>+19.9%</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>$0.00001243</td>
<td>+17%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes:&nbsp;Crypto technical chart analyst Ali Martinez predicts Bitcoin to hold above $62,500 to maintain a bullish position. If it breaks $66,250, it will target new all-time highs.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> must hold above $62,500 to maintain its bullish position and break $66,250 to target new all-time highs! <a href="https://t.co/IHCrAjGffQ">pic.twitter.com/IHCrAjGffQ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1813221439266296277?ref_src=twsrc%5Etfw">July 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto investor and author Quinten Francois <a href="https://x.com/QuintenFrancois/status/1813265239154000274">noted</a> that Bitcoin is currently 87 days into halving. In 2016 and 2020, sideways price action took 182 days and 161 days respectively. He concluded, "If history repeats September/October will be explosive."
Crypto trader Blockchainedbb <a href="https://x.com/blockchainedbb/status/1813277369303466030">sees</a> Bitcoin at daily resistance and still trading up and down. He foresees Bitcoin flipping only when it breaks through Range POC. He noted that Bitcoin is still making lower highs and lower lows with no change in structure.
Another crypto trader sees Bitcoin in the process of locally topping. He is looking for a $62,300 as a first downside target.
<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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> I think we&#39;re in the process of locally topping here. Looking for 62.3k as a first downside target. Not sure to the extent of any drop, just that we have: &#8211; Bear SMT between BTC-ETH &#8211; Bear div on BTC &#8211; Range mid Downside expectations from min-max are: &#8211; 62.3k &#8211; 59.2k… <a href="https://t.co/iGdcploqkW">pic.twitter.com/iGdcploqkW</a>
&mdash; CJ (@CJ900X) <a href="https://twitter.com/CJ900X/status/1813259248911941758?ref_src=twsrc%5Etfw">July 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What&#8217;s Next: The influence of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a> 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 href="https://www.benzinga.com/markets/cryptocurrency/24/07/39717579/bitcoin-should-close-a-monthly-candle-above-73-000-to-invalidate-sell-signal-says-trader">Bitcoin Should &#8216;Close A Monthly Candle Above $73,000&#8217; To Invalidate Sell Signal, Says Trader</a></li>
</ul>

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

Cryptocurrency

$BTC

$CORE

$DOGE

$ETH

$PEPE

$SHIB

$SOL

$WLD

Bitcoin, Ethereum, Dogecoin Continue Collecting Gains: 'If History Repeats, September/October Will Be Explosive,' Says Expert

Editor&#8217;s note: This story has been updated to note that Eric Saderholm is American Pacific Mining&#8217;s managing director of exploration. 
Following American Pacific Mining Corp&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/USGDF#OTC">USGDF</a>) initiation of a 2024 drill program at its Palmer Project in Alaska, Benzinga spoke with its co-founders, CEO Warwick Smith and Eric Saderholm, the company&#8217;s managing director of exploration, about the state of the commodity markets, policy issues <a href="https://www.benzinga.com/topic/mining">and the company&#8217;s future</a>.
<h2 class="wp-block-heading">BZ:&nbsp; After years of neglect, the mining sector is now attracting younger investors — a large portion of Benzinga's readership. How would you describe American Pacific to them?</h2>
Smith: We focus on high-grade assets in the western U.S. that are attractive to major mining companies. Major mining companies have already been involved with us. Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and Dowa Metals &amp; Mining have thoroughly vetted our projects. This gives the average investor confidence in the due diligence that has been done.
We stayed in the Western U.S. because of Eric. He is our competitive advantage, but we love the jurisdiction. As a former head of exploration at Newmont, he has seen many of these assets. Still, in contrast to a larger firm, we're more flexible in our threshold — finding smaller deposits and looking for pathways to grow them from 1.5-2 million ounces of gold into 3,4,5 million — all in the familiar, domestic jurisdiction following the environmental regulations. The days of dismissing the environmental impact are over. As a publicly listed company, we want to be held to high standards.&nbsp;
<h2 class="wp-block-heading">BZ: Eric, you spent many years with Newmont and then transitioned to smaller projects. What appealed to you about this decision to go small?</h2>
Saderholm: At big companies, you don't get the opportunities to work in many places or build projects from the ground up. You often inherit projects rather than create them. While the experience at Newmont was great, there's a sense of pride and accomplishment in taking on a project and working on it with a small team that is free from corporate bureaucracy and overhead. This freedom allows for more personal satisfaction and impactful work.
<h2 class="wp-block-heading">BZ: You have notable assets in Alaska, Montana, and Nevada. You recently announced the commencement of a new drilling project. What's next?</h2>
Smith: We have two large drilling programs underway: one in Alaska, where our partner is spending C$17 million (US$12.4 million), and another in Montana, where we're spending a couple of million of our own money. Our market cap is C$40 million, but we have C$20 million being spent on exploration this summer, largely partner-funded. This generates significant news flow, moving our assets forward. Other companies with similar market caps might spend only C$1-3 million on exploration, so our situation is unique. Additionally, we get paid as the operator in Alaska, earning a 7% management fee from our partner, which typically covers our annual burn rate
<h2 class="wp-block-heading">BZ: You are looking for partnerships outside of your core projects. What attributes do you seek in potential partners?</h2>
Smith: It depends on the project. For Alaska, a partner with deep-water port access and large smelting capacity, like our Japanese partner, is ideal. In Nevada, we look for mid-tier to major companies for an earn-in arrangement or other juniors for equity and cash transactions. These transactions can yield equity, which can be a great kicker for a company our size and push the project forward. It's project-dependent. For example, Alaska needed a big partner with deep pockets, and we found that in Dowa.
<h2 class="wp-block-heading">BZ: You found the best results at the Palmer project in Alaska, immediately after taking over. What's the secret behind that success? </h2>
Saderholm: Sometimes, new perspectives can significantly alter the approach. Alongside geologist Peter Mercer, our combined expertise allowed us to target effectively, leading to successful drilling results. This is crucial when working with new partners and building trust.
<h2 class="wp-block-heading">BZ: Your deal regarding the Madison asset in Montana earned a Deal of the Year nomination by S&amp;P Global Platts. Why was this deal so important?</h2>
Smith: Eric and I visited the asset in 2016 and liked it, but another company bought it. They did great work, bringing in Rio Tinto. Later, they shifted focus to psychedelics, and we bought the mining asset and that joint venture partnership for C$2.4 million in stock. This led to a significant increase in our market cap, earning the Deal of the Year nomination. The partnership with Rio Tinto, which was spending up to C$30 million, allowed us to see significant gains reflected in our market performance and recognition from S&amp;P Global. We worked with Rio Tinto between 2020 and 2023 and now own 100% of the Madison asset.
<h2 class="wp-block-heading">BZ: With mining capex declining for years and critical metals becoming a matter of national security, do you believe the market's cyclical nature, paired with surging retail participation, is creating a rush?</h2>
Smith: I hope so. We've seen metal prices rise, driven by the green revolution and demand for copper. Major banks forecast significant copper price increases, which benefits us. If the market turns risk-on again, we're ready with big partnerships, visibility, and access to capital. Our asset in Alaska is particularly well-positioned. We're fully cashed up and have major institutional shareholders, ensuring we can raise capital in good times and bad.
The demand for critical metals like copper and lithium, essential for green technologies, is set to rise significantly, driving prices up and creating opportunities for companies like ours. We're prepared to capitalize on these market shifts and deliver substantial returns for our investors.&nbsp;
<h2 class="wp-block-heading">BZ: Junior mining space offers opportunities, but it is chaotic — there are just so many of them. What should investors look for when investing in small companies?</h2>
Smith: Chaos is a great way to describe it, to be totally honest. It&#8217;s tough. I&#8217;ve thought this many times at larger conferences. A retail investor, hedge fund, or family office that isn't entrenched in mining walks on the floor and sees four or five hundred companies. They all kind of look the same. It's really hard to see who will be successful and why.
We were able to tell our story more like a tech company than a mining company and we saw the results in that. It has been challenging since then (2022), simply because it is a tougher market and a risk-off market. As that changes, these stocks will get an opportunity to get those parabolic moves. Regarding selection, you want ones that have big partnerships -so you already got your stamp of approval on the assets, and ones that have good visibility on the market so that people know the name.
One of our key shareholders, Michael Gentile of Bastion Asset Management, focuses predominantly on junior mining stocks. He always says you want to own a basket of these companies in the junior mining space and look for 10 to 50 baggers. Failure is the norm, but a couple of those that go parabolic can make up for any losses
<h2 class="wp-block-heading">BZ: Regarding the government and its influence in this sector, the Biden Administration and the Department of Energy are actively involved. Do you believe they are doing enough?</h2>
Smith: Yes and no. The critical metals initiatives and Department of Defense grants are great and necessary. But permitting remains a serious issue. Mines could be built much quicker if you cut some red tape. Eric and I have worked under different administrations and seen that you can work in the US regardless of who's in the office. If you have a title, your title is good. This is important, and that is what raises our value because you can find lucrative opportunities abroad and run into administrative problems.
<h2 class="wp-block-heading">BZ: There are rumors about the industry pushing to revive the US Bureau of Mines as the principal regulatory body for the domestic industry. Would it solve issues like permitting and environmental concerns?</h2>
Saderholm: The Bureau of Mines has been gone for about 30 years. It could serve a purpose if it expedites permitting. But if it becomes just another bureaucratic layer, then it doesn't help. It really depends on who you put in that bureau. If it is geologists, if it is people like me who understand the challenges, then you would probably be ok. If it is just somewhere to put your brother-in-law, who doesn't even know mining, he will just get in the way. So that would be my concern &#8211; adding another level of bureaucracy.
Smith: One challenge in the U.S. is inconsistency. In Nevada, the Bureau of Land Management (BLM) knows its job inside and out because it&#8217;s used to mining activities. But elsewhere, the same agency can take much longer due to a lack of experience or resources. An overarching agency could dilute local expertise, causing more issues. Local knowledge and efficient processes are crucial.
Another thing that I find interesting is that we could be driving across the highway in Nevada, and Eric would say, "Okay, this is where the BLM stops, and this is where the Forest Service begins," which means permitting is more difficult. But that invisible line on the road—the rocks are the exact same on either side. There are no trees to be seen, so it&#8217;s not like you're suddenly in a huge forest.
<h2 class="wp-block-heading">BZ: Last year, BCA Research's Chief Strategist Marko Papic argued we're entering a capex-driven commodity super cycle. Where do you see opportunities for the fastest domestic commodity production development?</h2>
Smith: Copper, definitely. Copper mines can take a while to get up and running, but copper will be in high demand. Lithium might be another one. An interesting outside commodity could be boron, which is essential for EV vehicles. With only two major producers globally, boron could be a dark horse of the industry.
Eric: Copper will rise above most other commodities. We have plenty of gold and silver, which works in different cycles, but copper is heading towards a production deficit in 15-20 years, and that's what we have to avoid. We can't wait for the deficit to hit before permitting new mines. It has to be an educational realization from the public.
There is a sequence of issues because copper is a complicated thing. Without it, everything stops—not just electrification. We need it desperately. As smaller, poorer countries start to modernize, there is another draw on production. It is essential that people know all the ways we put copper into the system, recycling included.
<h2 class="wp-block-heading">BZ: Is there anything you'd like to add about the industry or your company for our readers?</h2>
Smith: We're in a strong position, fully cashed up, with world-class partners. We're doing more drilling than companies with much larger market caps. Our drill budget is similar to that of Hecla and Coeur, but we have a C$40 million market cap. We're aggressively exploring and looking forward to a more risk-on market.
For younger audiences, trading in cryptos has shown how quickly investments can move. We've seen similar big moves with American Pacific in good markets and we're poised to see that again. Our company offers a similar potential for significant returns for those trading cryptos.
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