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

Landos Biopharma Stock (NASDAQ:LABP), Short Interest Report

Landos Biopharma

Landos Biopharma Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral therapeutics for patients with autoimmune diseases. It has several active development programs, each discovered internally, targeting novel pathways at the interface of immunity and metabolism. It operates in one reportable segment of operations and manages. The company's pipeline includes NX-13, LABP-66, LAPB-73, LABP-69. The company's current focus and lead product candidate is NX-13, a novel, oral, gut-selective, NLRX1 agonist.

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AbbVie impresses with Q1 results: EPS beats at $2.31 (-6.1% Y/Y), net revenue exceeds at $12.31 billion (+0.7%). Notable: Immunology sales, Humira vs. biosimilars, oncology gains.

Ex-Humira Growth Platform Drives AbbVie&#39;s Q1 Performance, Drugmaker Lifts Annual Profit Outlook

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U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite turning higher on Monday.

The Dow traded down 0.37% to 39,331.42 while the NASDAQ rose 0.06% to 16,439.38. The S&amp;P 500 also fell, dropping, 0.12% to 5,227.95.

Nasdaq Turns Higher; Akanda Shares Plunge

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Shares of  Landos Biopharma, Inc. (NASDAQ: LABP) rose sharply during Monday’s session following acquisition news.

Why Landos Biopharma Shares Are Trading Higher By Over 170%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

Landos Biopharma Inc

In an interview with Yahoo Finance on Friday, Robinhood Markets, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) CEO Vlad Tenev spilled the beans on its retirement offerings, which target users of every age, <a href="https://www.benzinga.com/topic/gen-z" target="_blank" rel="noreferrer noopener">including the ever-elusive Gen Z.</a>
The CEO underscored how Robinhood&#8217;s offerings are a magnet for novice investors, with Tenev shining a spotlight on a groundbreaking survey revealing Gen Z&#8217;s astonishing foresight as Gen Zers begin pondering retirement as early as 19 years old, Tenev <a href="https://www.youtube.com/watch?v=7-JdHG02xOA" target="_blank" rel="noreferrer noopener">told </a>Yahoo Finance&#8217;s Market Domination. 
Tenev also emphasized Robinhood&#8217;s retirement profile for individuals within five years of retirement age, stating that &#8220;the economics of the offer are irresistible to pass up.&#8221;
&#8220;When we talk to customers, particularly for our retirement product, they love the user experience&nbsp;and&nbsp;the&nbsp;3% match that is evergreen for contributions is just among the most compelling offers they&#8217;ve seen.&#8221;
Check This Out:<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/05/38713973/robinhood-q1-earnings-highlights-revenue-beat-eps-beat-over-1-million-on-gold-credit-card-" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/05/38713973/robinhood-q1-earnings-highlights-revenue-beat-eps-beat-over-1-million-on-gold-credit-card-" rel="noreferrer noopener">Robinhood Q1 Earnings Highlights: Revenue Beat, EPS Beat, Over 1 Million On Gold Credit Card Waitlist</a>
&#8220;A lot of them don&#8217;t have 401(k)s through employers. The ones that do sometimes don&#8217;t have employers that match, so having Robinhood provide that service in an individual self-directed retirement product is really compelling,&#8221; Tenev said to Yahoo Finance&#8217;s Executive Editor Brian Sozzi.
The company&#8217;s shares dipped over 6% at Friday&#8217;s close, falling nearly 8% over the last five days.&nbsp;
On May 8, the company reported record revenue of $618 million, up 40% year-over-year. The revenue total beat a Street consensus estimate of $548.6 million. The company&#8217;s <a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Reports-First-Quarter-2024-Results/default.aspx" target="_blank" rel="noreferrer noopener">Crypto Notional Trading volumes</a><a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Reports-First-Quarter-2024-Results/default.aspx" target="_blank" rel="noreferrer noopener"> </a><a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Reports-First-Quarter-2024-Results/default.aspx" target="_blank" rel="noreferrer noopener">increased 224% year-over-year to $36 billion.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, HOOD stock has gained over 68% in the past year.
Investors can gain exposure to the stock via&nbsp;ETF Series Solutions Grayscale Future Of Finance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFOF#NYSE">GFOF</a>) and&nbsp;ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>).
Price Action:&nbsp;HOOD shares closed lower by 6.18% to $16.23 on Friday.
Read Next:<a href="https://www.benzinga.com/news/24/05/38635966/gen-z-misusing-ai-for-job-applications-as-employers-receive-hundreds-of-exact-same-cover-letters-wor" target="_blank" rel="noreferrer noopener">&nbsp;Gen Z Misusing AI For Job Applications As Employers Receive Hundreds Of &#8216;Exact Same Cover Letters Word For Word&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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Robinhood CEO Vlad Tenev Dishes On Hot Retirement Offerings: 'Economics Of The Offer Are Irresistible To Pass Up'

In a week full of international cannabis policy updates, Thailand, Morocco and Pakistan have made strides, each presenting divergent paths when it comes to regulating the plant.
<h3 class="wp-block-heading">Thailand&#8217;s Prohibition Stance </h3>
<a href="https://www.benzinga.com/topic/thailand-cannabis">Thailand</a>, known for its progressive stance on cannabis in recent years, has taken a surprising turn by moving towards tightening regulations. The Kingdom, once celebrated for its progressive steps towards cannabis decriminalization and medicinal legalization, is now tightening its grip on cannabis-related activities. Conservative Prime Minister Srettha Thavisin said on Wednesday that cannabis would be re-listed as a Category 5 narcotic, subject to strict controls akin to heroin or cocaine. This move marks a significant departure from its previous trajectory since Thailand was the first Asian country to legalize adult-use cannabis in 2020. Resistance in building among locally affected shareholders who are setting in place protests and class-action lawsuits to stop the measure.
<h3 class="wp-block-heading">Morocco&#8217;s Push for Recreational Legalization Gains Momentum</h3>
In North Africa, <a href="https://www.benzinga.com/topic/morocco-cannabis">Morocco </a>is witnessing a growth in <a href="https://www.newarab.com/news/morocco-cannabis-farmers-push-recreational-legalisation">support </a>for the legalization of recreational cannabis. Despite its long-standing reputation as a major cannabis producer, Morocco has historically maintained a strict anti-cannabis policy. This means that the country has turned its back on nearly half a million farmers growing cannabis in the Rif region, one of the largest cannabis-producing areas on the planet.
Despite partial legalization in 2021, most farmers from the Rif are still working to provide the international black market. However, legalization efforts have emboldened stakeholders to advocate for broader legalization aiming to get all farmers to produce under the legalized framework. For advocates, this implies legalizing the production to meet international demand. Shakib Al Khayari, the coordinator of the Moroccan Coalition for Medical and Industrial Use of Cannabis, <a href="https://www.newarab.com/news/morocco-cannabis-farmers-push-recreational-legalisation">said</a>: &#8220;In Morocco, it will be necessary to open a discussion because regulation for medical and industrial purposes will not eliminate the existing black market.&#8221;
<h3 class="wp-block-heading">Pakistan&#8217;s Economic Imperatives Drive Medicinal Cannabis Legalization</h3>
In South Asia, <a href="https://www.benzinga.com/markets/cannabis/24/04/38243593/pakistan-launches-regulatory-body-for-cannabis-trade-to-fuel-economic-growth">Pakistan </a>emerges as a new player in the global cannabis market, driven by economic imperatives. The establishment of the Cannabis Control and Regulatory Authority (CCRA) signals Pakistan&#8217;s intent to legalize cannabis derivatives for medicinal and industrial purposes. The regulatory framework, crafted to adhere to UN mandates of February this year, specifies the maximum level of THC to be 0.3 percent.
"Technically, now the cultivation is legal since the ordinance has been passed, but we are still in [the] process of developing rules and procedures and awaiting registration of the authority," Syed Hussain Abidi <a href="https://www.aljazeera.com/news/2024/5/8/pakistan-bets-on-a-cannabis-high-as-its-economy-struggles">told </a>Al Jazeera.
This will put Pakistan on the list of possible hemp based products and dried flower international providers. The Asian country&#8217;s advantage, similar to that of Morroco, is that hemp production is traditional and they grow approximately 70,000 acres of cannabis each year. The bulk of this production goes to the black market.

Cannabis

Contradictory Moves In Global Cannabis Legalization: Thailand, Morocco And Pakistan Take Different Paths

U.S. President <a href="https://www.benzinga.com/topic/joe-biden" target="_blank" rel="noreferrer noopener">Joe Biden</a> jokingly remarked on Friday that he wished former President<a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> had administered a bit of bleach to himself, reviving one of Trump&#8217;s more perplexing moments from the<a href="https://www.benzinga.com/government/24/05/38724294/biden-says-hes-already-turned-economy-around-blames-corporate-greed-for-persistently-high-inflation" target="_blank" rel="noreferrer noopener"> early stages of the coronavirus pandemic.</a>
Biden, speaking at a fundraising event near San Francisco for his re-election bid, described his Republican opponent&#8217;s presidency as tumultuous, urging voters to remember this as they approach the November election, Reuters reported.
&#8220;Remember him saying the best thing to do is just inject a little bleach in your arm? That&#8217;s what he said. And he meant it. I wish he had done a little bit himself,&#8221; Biden said, Reuters added.
In the initial stages of the 2020 pandemic, Trump suggested injecting disinfectants like bleach or isopropyl alcohol into the body. Biden also joked about Trump&#8217;s &#8220;love letters&#8221;&nbsp;from<a target="_blank" href="https://www.benzinga.com/topic/kim-jong-un" rel="noreferrer noopener">&nbsp;Kim Jong Un</a>, mistakenly referring to Kim as South Korea&#8217;s president.
Trump had numerous meetings with Kim and maintained correspondence, storing copies of their letters in an Oval Office binder. A Trump campaign spokesperson didn&#8217;t immediately respond to Biden&#8217;s comments. Biden previously joked about Trump&#8217;s bleach remark, quipping in April that Trump had injected himself and that &#8220;it all went to his hair.&#8221;
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38762667/tesla-charging-shakeup-may-disrupt-biden-ev-plans" target="_blank" rel="noreferrer noopener">Tesla Charging Shakeup May Disrupt Biden EV Plans</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Equities

Joe Biden Mocks Donald Trump's Advice To Inject Bleach: 'I Wish He Had Done A Little Bit Himself'

Many women&nbsp;who breastfeed choose&nbsp;cannabis over other medications to manage conditions like anxiety and chronic pain. A recent study conducted by Washington State University&nbsp;uncovered that THC, the <a href="https://www.benzinga.com/markets/cannabis/24/04/38528176/thc-beverage-sector-is-probably-bigger-than-we-realize-say-industry-experts-and-its-not-too-late">psychoactive component </a>of cannabis, persists in breast milk without a predictable peak concentration time.
The study revealed&nbsp;that THC levels in breast milk do not follow a clear pattern like alcohol, which typically peaks and then diminishes.
<h3>Study Methodology And Findings</h3>
The research, led by Prof. Courtney Meehan, a biological anthropologist at WSU,<a href="https://news.wsu.edu/press-release/2024/05/08/thc-lingers-in-breastmilk-with-no-clear-peak-point/"> analyzed</a> milk samples from 20 breastfeeding mothers who regularly used cannabis.
Participants provided samples in their homes after 12 hours of abstaining from cannabis and at various intervals post-consumption.
The study discovered that THC was always detectable in the milk samples, even after the abstention period.
<h3>Low THC Concentrations: Implications Unknown</h3>
The amounts of THC found were relatively low, with infants estimated to receive about 0.07 mg per day&mdash;a stark contrast to the 2 mg found in common low-dose edibles.
However, the impact of this <a href="https://www.benzinga.com/topic/thc">THC</a> exposure on infants remains unknown.
Meehan <a href="http://www.healthday.com/health-news/pregnancy/how-long-does-marijuana-thc-linger-in-breast-milk">stressed the importance</a> of this knowledge gap.&nbsp;&quot;Breastfeeding parents need to be aware that if they use cannabis, their infants are likely consuming cannabinoids via the milk they produce, and we do not know whether this has any effect on the developing infant.&quot;
<h3>Variable THC Concentrations In Breast Milk</h3>
The concentration of THC in milk was found to be greater for participants who used <a href="https://www.benzinga.com/markets/cannabis/19/09/14423264/why-thcv-one-of-the-many-compounds-in-cannabis-might-be-the-next-big-thing-in-weed">cannabis</a> more frequently during the 8-to-12 hour study period.
Those who used cannabis only once during the study period experienced&nbsp;THC concentrations peaking at variable times, typically around 2 hours after use, though it could be as soon as 30 minutes.
More frequent usage was associated with higher THC levels even after a 12-hour abstention. These findings confirm that infants are exposed to measurable amounts of <a href="https://www.benzinga.com/markets/cannabis/23/10/35274357/thc-obsession-what-really-matters-when-choosing-cannabis-cultivars">THC</a> through breast milk.
<h3>Research Needs And Support</h3>
The findings underscore the need for more rigorous research to establish guidelines similar to those for<a href="https://www.benzinga.com/markets/cannabis/24/05/38566712/are-hemp-thc-beverages-competing-with-alcohol-experts-discuss-new-alternatives-for-adult-beverag"> alcohol consumption</a> in breastfeeding mothers. This research was published in the journal <a href="https://www.liebertpub.com/doi/10.1089/bfm.2024.0021">Breastfeeding Medicine</a> and was supported by State of Washington Initiative Measures 171 and 502&nbsp;and the WSU Health Equity Research Center.
To learn more about cannabis, health, and business&nbsp;don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;

Is It Safe To Breastfeed After Consuming Marijuana? New Research Explores THC Levels In Infants

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Friday drew a parallel between video streaming platform Netflix doubling down on streaming over DVD renting in 2011 to the EV maker doubling efforts <a href="https://www.benzinga.com/news/24/04/38286437/tesla-ceo-elon-musk-says-going-balls-to-the-wall-for-autonomous-driving-is-blindingly-obvious-as-eve">on vehicle autonomy.</a>
What Happened: In 2011, Netflix attempted to split its DVD rental business from its online streaming into a separate website called Qwikster. The plan, however, was eventually scrapped owing to consumer and shareholder protests.
However, streaming has now indeed taken over DVDs, an X user noted in a post on Friday. &#8220;Now, apply this logic to Tesla,&#8221; Musk wrote to the user, drawing a parallel between Netflix&#8217;s 13-year-old decision to focus on streaming and Tesla&#8217;s own decision to focus all efforts on vehicle autonomy and hinting that autonomous vehicles will trump human-driven ones in the future. 
<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">Now, apply this logic to Tesla
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789107310725673336?ref_src=twsrc%5Etfw">May 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla is currently faced with dropping share value after it decided to focus all its efforts and resources on vehicle autonomy. However, the CEO said last month that doubling down on autonomy is a &#8220;blindingly obvious move&#8221; for the company with everything else like &#8220;variations on a horse carriage.&#8221; The company intends to unveil its robotaxi product on Aug. 8, and Musk is optimistic that autonomous vehicles will be the future for the automotive industry.
"Even if I got kidnapped by aliens tomorrow, Tesla&nbsp;will&nbsp;solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least," <a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta">Musk said </a>during the company&#8217;s first-quarter earnings call last month. "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company."
Netflix, meanwhile, subsequently ended its DVD-renting business last year after the business shrank and <a href="https://www.benzinga.com/general/entertainment/23/04/31883368/after-25-years-of-incredible-run-netflix-breaks-up-with-dvds-its-not-you-its-streaming">paved the way for streaming.</a> The company shipped its final discs on September 29. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38774504/tesla-analyst-sees-annual-shareholder-meeting-as-key-to-determining-elon-musk-led-c">Tesla Analyst Sees Annual Shareholder Meeting As Key To Determining Elon Musk-Led Company&#8217;s Future Strategy</a>
Photo: Shutterstock

TSLA

Tesla CEO Elon Musk Draws Parallel Between Netflix's Decision To Focus On Streaming Over Renting DVDs To EV Maker Doubling Down On Vehicle Autonomy

Las Vegas-based cannabis giant, Planet 13 Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNH#OTC">PLNH</a>), has successfully concluded its acquisition of Florida&#8217;s VidaCann, a prominent player in the state&#8217;s medical marijuana market. The acquisition received approval from the Florida Office of Medical Marijuana Use in April. This represents a significant expansion as recreational cannabis legalization in Florida will be <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">decided </a>in the November 2024 ballot.
<h3 class="wp-block-heading">Strategic Deal Structure</h3>
As part of the <a href="https://feeds.issuerdirect.com/news-release.html?newsid=7067233294730753%20">deal</a>, according to a <a href="https://feeds.issuerdirect.com/news-release.html?newsid=7067233294730753%20">press release</a> shared with Benzinga, Planet 13 will acquire VidaCann from its previous owners in exchange for 81,872,252 shares of Planet 13&#8217;s common stock, approximately $4 million in cash and $5 million in promissory notes. Based on the closing price of Planet 13&#8217;s common stock as of May 9, 2024, the total deal, previously <a href="https://www.benzinga.com/markets/cannabis/23/08/34073292/trulieve-faces-serious-competition-as-planet-13-enters-florida-market-via-48m-deal">estimated </a>at $48.9 million was finally valued at approximately $63.4 million.
<h3 class="wp-block-heading">Integration and Expansion Plans</h3>
Bob Groesbeck, co-CEO of Planet 13, expressed excitement about the acquisition. "This acquisition marks an important moment for our Company, as we leverage VidaCann's established footprint and reputation, adding 26 stores to our portfolio to enhance our retail offering in Florida. We look forward to integrating our award-winning brands and retail expertise to drive growth and deliver unparalleled experiences to our customers."
This addition of VidaCann&#8217;s 26 dispensaries significantly bolsters Planet 13&#8217;s retail <a href="https://www.benzinga.com/markets/cannabis/24/05/38672033/las-vegas-cannabis-powerhouse-planet-13-to-close-49m-florida-expansion-deal-after-achieving-anot">presence </a>in the Florida cannabis marker.
<h3 class="wp-block-heading">Driving Growth and Innovation</h3>
Planet 13 will enhance VidaCann&#8217;s success by introducing indoor cultivation techniques to diversify product offerings. The company will also bring its award-winning brands from Nevada to Florida, with a focus on improving per-store economics and <a href="https://www.benzinga.com/markets/cannabis/24/03/37680463/how-company-planet-13-cannabis-company-stays-green-amid-23m-revenue-and-red-ink-q4-2023-financia">revenue generation.</a>
Looking ahead,<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36913913/weed-galaxy-watch-pro-analysis-planet-13-stock-vision-cash"> Planet 13 </a>intends to selectively expand VidaCann&#8217;s network of dispensaries and potentially introduce SuperStores in key tourist destinations, pending adult-use legislation.
Learn more about what&#8217;s going on in the cannabis industry at the upcoming Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players, experts, advocates, and policymakers. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Courtesy photo

PLNH

Planet 13 Wraps Up VidaCann Acquisition To Enter Florida Market With $63.4M Deal And 26 Cannabis Dispensaries

The largest bank in the United States, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), has disclosed a significant investment in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded funds (ETFs) despite its CEO <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36658859/jpmorgan-ceo-jamie-dimon-says-satashi-may-erase-bitcoin-supply-limit-backs-tokenizing-thin">Jamie Dimon's persistent criticism</a> of cryptocurrencies.
What Happened: JPMorgan has invested approximately $760,000 in spot Bitcoin ETFs on behalf of its clients, according to recent <a href="https://www.sec.gov/Archives/edgar/data/19617/000001961724000369/xslForm13F_X02/Information_Table_03.31.2024.xml">filing</a> with the Securities and Exchange Commission (SEC).
The bank&#8217;s holdings are spread across several ETFs, including BlackRock&#8217;s iShares Bitcoin Trust (IBIT), the ProShares Bitcoin Strategy ETF (BITO), Fidelity&#8217;s Wise Origin Bitcoin Fund (FBTC), the Grayscale Bitcoin Trust (GBTC) and the Bitwise Bitcoin ETF.
In addition to this, JPMorgan purchased 25,021 shares of crypto ATM provider Bitcoin Depot Inc. worth $47,415 and 34,662 shares of Bit Digital Inc. worth $99,480.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38723503/trump-pledges-to-make-sure-you-can-donate-using-crypto-to-his-2024-campaign-unwittingly-se?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Pledges To &#8216;Make Sure You Can&#8217; Donate Using Crypto To His 2024 Campaign</a>
This announcement follows a similar disclosure by rival bank Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), which revealed its holding of 2,245 GBTC shares worth $121,207.
Dimon previously referred to Bitcoin as a &#8220;pet rock&#8221; used by criminals and speculators.
Why It Matters: This move by JPMorgan, despite Dimon&#8217;s criticism, is indicative of the increasing acceptance of Bitcoin within traditional financial institutions.
In December, Dimon <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36118823/jp-morgan-ceo-calls-for-a-shut-down-of-bitcoin-and-the-crypto-industry-heres-how-social-me">reiterated his long-standing opposition to Bitcoin</a> and other cryptocurrencies, suggesting that the government should shut down the industry.
In January, following the SEC&#8217;s approval of a Bitcoin ETF, Dimon&#8217;s stance appeared to soften. He said, "I defend your right to do Bitcoin," <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36672240/edward-snowden-slams-jamie-dimon-over-bitcoin-remarks-following-secs-etf-approval-stole-hi">eliciting a strong reaction</a> from former National Security Agency contractor Edward Snowden.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38678022/heres-how-much-1-000-invested-in-dogecoin-would-be-worth-if-you-invested-when-elon-musk-fi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s How Much $1,000 Invested In Dogecoin Would be Worth If You Invested When Elon Musk First Tweeted About DOGE</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.
Photo courtesy: Flickr

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

Cryptocurrency

$BTC

JPMorgan Reports $760K Spot Bitcoin ETF Holdings Even As CEO Jamie Dimon Called For Shutting Down Crypto Industry

In an interview earlier this week, Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Sundar Pichai responded to Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella&#8216;s <a href="https://www.benzinga.com/news/large-cap/23/06/32881859/microsoft-ceo-satya-nadella-wants-real-competition-with-google-as-companys-stock-reaches-all-time-">comments about making</a> Google &#8220;dance&#8221; after the introduction of new Bing.
What Happened: On Wednesday, in an interview <a href="https://www.bloomberg.com/news/articles/2024-05-08/video-alphabet-ceo-sundar-pichai-lays-out-google-s-ai-roadmap">with</a> Bloomberg, Pichai dismissed Nadella&#8217;s remarks about the &#8220;new Bing&#8221; and the need for Google to &#8220;dance&#8221; to its tune. &#8220;One of the ways you can do the wrong thing is by listening to noise out there and playing to someone else&#8217;s dance music,&#8221; he said. 
Microsoft announced its &#8220;New Bing,&#8221; powered by OpenAI&#8217;s ChatGPT, in February 2023. That same month, Nadella said, &#8220;I want people to know that we made them dance.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
Nadella also stated that he had been waiting for&nbsp;20 years to compete with&nbsp;Google and that&nbsp;it &#8220;should have been the&nbsp;default winner&#8221; of the Big&nbsp;Tech AI race.
Despite Google&#8217;s early investment in&nbsp;AI and&nbsp;its resources and talent, Microsoft&nbsp;took the lead in&nbsp;the AI race when it <a href="https://www.benzinga.com/markets/equities/24/01/36561409/microsofts-13b-investment-in-openai-comes-under-scrutiny-of-european-competition-regulator">partnered with OpenAI</a> and launched&nbsp;the new Bing and 365&nbsp;Copilot, an AI-powered productivity tool&nbsp;for Microsoft apps.
Google was reportedly caught off guard. When ChatGPT was launched in 2022, <a href="https://www.benzinga.com/news/22/12/30170477/chatgpt-popularity-reportedly-leads-to-google-declaring-code-red-as-sundar-pichai-increases-involvem-1">Google allegedly&nbsp;issued a &#8220;code red&#8221;</a> to employees about the potential threat&nbsp;to its search business. The&nbsp;company also refocused its AI&nbsp;strategy following the new competition.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
However, Google is now catching up, leveraging&nbsp;its massive user base to&nbsp;promote its AI products. The company recently announced that it is developing its own AI chips and is intensifying&nbsp;its AI efforts with a&nbsp;series of cloud advancements, the <a href="https://www.benzinga.com/news/24/04/38175771/googles-gemini-1-5-pro-ai-could-change-how-you-play-games-and-file-insurance-claims">general availability</a> of TPU v5p,&nbsp;the new release of Gemini&nbsp;1.5, and various AI additions&nbsp;to Google Workspace.
Why It Matters: Pichai&#8217;s response comes in the wake of a challenging period for Google. The company has been facing increased scrutiny over its ability to keep pace with competitors, with some analysts even calling for a <a href="https://www.benzinga.com/news/24/03/37440362/analysts-are-calling-for-google-ceo-sundar-pichai-to-step-down-despite-companys-massive-growth-under">leadership change at the tech giant</a>.
Earlier this year, <a href="https://www.benzinga.com/news/24/03/37579583/google-ceos-anxiety-exposed-leaked-email-reveals-how-sundar-pichai-was-spooked-about-losing-talent-e">Pichai&#8217;s anxiety about losing talent</a> to rivals, especially Apple Inc., was exposed in a leaked email. Amid an ongoing antitrust lawsuit brought by the U.S. Department of Justice, Pichai has reportedly kept a close watch on the loss of key talent to rivals, particularly Apple.
Following this, <a href="https://www.benzinga.com/news/24/04/38334324/sundar-pichai-announces-restructure-after-google-fires-protesting-employees-too-important-a-moment-a">Google announced a restructuring</a> after firing 28 employees for protesting against the company&#8217;s cloud deal with Israel. Pichai emphasized the need for focus, collaboration and respectful disagreements within the company, while announcing a restructuring of Google&#8217;s devices and mobile software divisions.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38754725/elon-musk-going-for-youtube-billionaire-now-wants-you-to-post-your-movies-tv-shows-and-podcasts-on-x?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Going For YouTube? Billionaire Now Wants You To Post Your Movies, TV Shows And Podcasts On X To Monetize</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Media

GOOG

GOOGL

MSFT

Sundar Pichai Finally Responds To Microsoft CEO's Comments About Making Google Dance: 'One Of The Ways You Can Do The Wrong Thing Is By ... Playing To Someone Else's Dance Music'

Electric vehicle stocks retreated in the week that ended on May 10 amid profit taking, with<a href="https://www.benzinga.com/news/earnings/24/05/38653616/lucid-q1-earnings-highlights-revenue-beat-eps-miss-production-update-and-more"> some earnings reports from the space</a> weighing down on several stocks.
Here are the key events that happened in the EV space during the week:
Another Key Tesla Executive Departs, China Sales Woe And More: The week did not bring respite to the ongoing right-sizing efforts at Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Rich Otto, who served as head of product at the company, announced this week that he was departing after a seven-year stint at the company. In a LinkedIn post that has since been deleted, Otto reportedly said, &#8220;The recent layoffs that are rocking the company and its morale have thrown this harmony out of balance and it&#8217;s hard to see the long-game.&#8221;
In another development, Tesla removed most job postings on its website, with the North American websites listing just three open manufacturing jobs. Gizmodo <a href="https://gizmodo.com/tesla-hiring-freeze-job-postings-elon-musk-layoffs-1851464758">reported,</a> citing an archived version of Tesla&#8217;s career page, that as of May 1, had listed 3,400 jobs openings in the U.S., Mexico and Canada.
Although Tesla nearly disbanded its Supercharger network team, it could expand the network, according to comments from CEO Elon Musk. 
&#8220;Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year,&#8221; he said in a post on X.
&#8220;That's just on new sites and expansions, not counting operations costs, which are much higher,&#8221; he added.
Tesla&#8217;s troubles in China appear to continue. Data released by the China Passenger Car Association showed that the company shipped 62,617 made-in-China EVs in April, down 18% year-over-year, with 30,746 units of those meant to be exports, CnEVPost <a href="https://cnevpost.com/2024/05/10/tesla-apr-2024-sales-in-china/">reported.</a> Domestic sales totaled 31,421 units, marking a decrease of approximately 50% from the previous month and a decline of over 21% compared to the same period last year.
Reports suggested that Tesla sent former China head Tom Zhu back to the country as the company struggles with sagging sales amid competitive pressure. Zhu was promoted to Tesla&#8217;s top leadership team last year and was stationed in Austin.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Rivian Earnings, Apple Rumor: Startup Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) reported first-quarter revenue that exceeded estimates; however, loss per share widened compared to a year ago. On a positive note, the company maintained its 2024 production forecasts of 57,000 units. CFO Claire McDonough said on the earnings call that the 2024 capital expenditure guidance stands reduced by $550 million to $1.2 billion, attributing the cut to the savings stemming from a decision to move the first line of R2 production to the company&#8217;s Normal, Illinois plant.
The stock received a shot in the arm early this week after DigiTimes reported that Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is &#8220;assessing the possibility of teaming up with a certain U.S. EV startup, and Rivian is a very likely candidate.&#8221; Both companies, however, did not clarify on the rumor.
Fisker Files For Insolvency In Austria: Beleaguered EV maker Fisker, Inc.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSRN#OTC">FSRN</a>) Austrian unit Fisker GmbH voluntarily filed for bankruptcy protection on Tuesday. The subsidiary clarified that no other Fisker entities are included in the restructuring. The company faced more negative headlines this week, with the National Highway Traffic Safety Administration opening another investigation into potential issues with the Ocean electric SUV's automatic emergency braking.
Pushback For China EV Makers? The Biden administration is set to act to protect the domestic EV industry from Chinese competition. Wall Street Journal <a href="https://www.wsj.com/economy/trade/biden-to-quadruple-tariffs-on-chinese-evs-203127bf">reported</a> that the White House will announce on Tuesday tariffs on Chinese imports in strategic sectors such as EVs.
The report said the U.S. would maintain existing tariffs on many Chinese goods set by former President Donald Trump, while adding new tariffs to semiconductors and solar equipment. The government is also reportedly planning to hike EV tariffs, which are likely to quadruple.
Ford Slows European EV Plans: Legacy automaker Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) has gone back on its <a href="https://www.benzinga.com/news/21/02/19702111/ford-to-go-all-electric-in-europe-by-2030-cnbc">plan to fully transition to battery EVs in Europe by 2030.</a> Martin Sander, head of Ford&#8217;s passenger cars business in Europe, <a href="https://europe.autonews.com/automakers/ford-revises-plan-be-all-electric-europe">said</a> at the Financial Times Future of the Car Summit on Tuesday that demand for pureplay EVs has been softer than the company expected.
The company will continue to sell internal combustion engine cars beyond 2030 if customers demand them and will focus on selling plug-in hybrids, he said.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session down 1.87% at $22.14, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF fell 2.55%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/05/38759751/tesla-vs-uber-if-you-invested-1-000-each-in-these-companies-in-2022-heres-how-much-you-would-hav"> Tesla Vs. Uber: If You Invested $1,000 Each In These Companies In 2022, Here&#8217;s How Much You Would Have Now</a>
EV Stock Performances For Week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Performances (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-7.02%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>-8.98%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>-14.68%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-4.68%</td>
</tr>
<tr>
<td>Fisker</td>
<td>-32.69%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+12.50%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>-12.50%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>-7.58%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-0.79%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>-4.49%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>)</td>
<td>+12.71%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-18.33%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>+4.15%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

AAPL

FFIE

FSRN

GOEV

HYZN

KARS

NKLA

RIVN

WKHS

XPEV

Tesla's Ongoing Austerity Measures, Rivian-Apple Partnership Buzz, Biden Administration's Clampdown: Biggest EV Stories Of The Week

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The major stock indexes finished <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/05/38770095/stocks-surge-on-healthy-earnings-season-rising-jobless-claims-this-week-in-the-marke">the week in the green</a>. The Dow climbed 2.16%, its best showing since December and its fourth consecutive week of gains. The S&amp;P 500 and the Nasdaq Composite also continued their positive runs, increasing by 1.85% and 1.14%, respectively, marking three weeks of successive gains.
In other news, the preliminary May consumer sentiment index from the University of Michigan scored 67.4, significantly under the expected 76 and the lowest it has been in roughly six months.
Looking ahead, attention is shifting to the April Consumer Price Index inflation report due on Wednesday and Federal Reserve Chair Jerome Powell's upcoming speech in Amsterdam on Tuesday.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38668003/wedbushs-dan-ives-smells-golden-buying-opportunity-in-palantirs-pullback-after-q1-e">&#8220;Wedbush&#8217;s Dan Ives Smells &#8216;Golden Buying Opportunity&#8217; In Palantir&#8217;s Pullback After Q1 Earnings As He Lauds &#8216;Jalen-Brunson-Like&#8217; Performance &#8211; Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, discusses how Daniel Ives of Wedbush sees a significant buying opportunity in Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) after a stock dip, despite strong Q1 revenue performance and promising growth in its AI platform.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38671699/trader-who-made-giga-wealth-on-memes-reveals-mememillions-playbook-still-holds-most-of-his">&#8220;Trader Who Made &#8216;Giga Wealth&#8217; On Memes Reveals &#8216;Mememillions Playbook,&#8217; Still Holds Most Of His DOGE&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, details how pseudonymous investor Apatheticwhale earned millions from meme coins like Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), stressing a strategy of patience and diversified holdings.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38675021/disney-direct-to-consumer-segment-profits-in-q2-operating-income-modestly-ahead-of-">&#8220;Disney DTC Unit Profits, Operating Income Exceeds Expectations &#8211; Walt Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, details how The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) reported a profitable direct-to-consumer segment in Q2, surpassing expectations though facing mixed guidance for upcoming quarters.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/news/24/05/38663810/lucid-ceo-throws-down-the-gauntlet-with-48k-ev-plan-to-take-on-teslas-dominance-wait-until-our-midsi">Lucid CEO Throws Down The Gauntlet With $48K EV Plan To Take On Tesla&#8217;s Dominance: &#8216;Wait Until Our Midsize Comes Out In Late 2026&#8217;</a>
<a href="https://www.benzinga.com/markets/asia/24/05/38706682/chinese-stocks-surge-as-investors-bet-on-economic-turnaround-7-etfs-to-watch">Chinese Stocks Surge As Investors Bet On Economic Turnaround: 7 ETFs To Watch</a>
<a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">Apple Launches iPad Pro With M4 Chip, OLED Display At $999: iPad Air Now Comes In Two Sizes For The First Time</a>
The Bears
<a href="https://www.benzinga.com/news/24/05/38729359/hertz-customer-fumes-after-car-rental-company-charges-him-277-for-refueling-tesla-and-refuses-to-rei">&#8220;Hertz Customer Fumes After Being Billed $277 For &#8216;Refueling&#8217; Tesla, Car-Rental Company Says It Will Refund &#8216;Erroneous&#8217; Charge&#8221;</a> by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, highlights how Hertz Global Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NYSE">HTZ</a>) wrongfully charged a customer $277.39 for &#8220;refueling&#8221; an electric Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Model 3, which was returned with the same battery level.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38647910/starbucks-analyst-gives-likeliest-reason-for-steep-sales-collapse-rarely-seen-outsi">&#8220;Starbucks Analyst Gives ‘Likeliest' Reason For Sales Collapse&#8221;</a> by <a href="https://www.benzinga.com/author/priya-nigam">Priya Nigam</a>, explains why Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) faces a rare sales slump, speculated by a BofA analyst to be influenced more by a backlash over Starbucks' Middle Eastern policies rather than typical consumer fatigue.
<a href="https://www.benzinga.com/top-stories/24/05/38679782/george-soros-ex-employee-just-sold-a-large-nvidia-stake-druckenmiller-says-it-was-a-hell-of-a-run">&#8220;George Soros&#8217; Ex-Employee Just Sold A Large Nvidia Stake: DruckenMiller Says It Was A &#8216;Hell Of A Run&#8217; &#8211; NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that Stanley Druckenmiller, a former Soros fund manager, decided to sell a large part of his Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stake after a rapid price surge, influenced by AI advancements, despite remaining optimistic about AI&#8217;s future impact.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38650333/bitcoin-could-still-have-a-correction-down-cautions-lark-davis-lets-not-get-ahead-of-ourse">Bitcoin &#8216;Could Still Have A Correction Down,&#8217; Cautions Lark Davis: &#8216;Let&#8217;s Not Get Ahead Of Ourselves&#8217;</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38743773/trumps-china-tariff-hikes-could-smother-us-economic-growth-fitch-ratings-sounds-ala">Trump&#8217;s China Tariff Hikes Could Smother US Economic Growth: Fitch Ratings Sounds Alarm</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38672190/crypto-an-outsized-piece-of-the-scams-and-problems-in-markets-gary-gensler">Crypto &#8216;An Outsized Piece Of The Scams And Problems&#8217; In Markets: Gary Gensler</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using artificial intelligence via Midjourney.

Long Ideas

Short Ideas

$DOGE

$SHIB

NVDA

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Benzinga Bulls And Bears: Nvidia, Starbucks, Palantir And Crypto Investor's Playbook For Making 'MemeMillions' From Shiba Inu, Dogecoin

In 2018, TikTok user&nbsp;Kayleigh Donahue packed her bags in Rhode Island and jetted off to Dublin, Ireland, for what she thought would be a year-long adventure. Fast forward, and that year stretched into four rich, eye-opening years. Though she&#8217;s now moved back to the US, she still misses many things about European life. 
Let&#8217;s dive into five areas where Donahue believes Europe outshines the U.S.
<h3 class="wp-block-heading">Traveling Is Easier and Cheaper</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102458/europe-better-than-america-1-1024x576.jpeg" alt="Europeans' frequent country-hopping is enviable and, as discovered, highly affordable due to budget airlines. Image: Dall-E 3" class="wp-image-332698" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102458/europe-better-than-america-1-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102458/europe-better-than-america-1-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102458/europe-better-than-america-1-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102458/europe-better-than-america-1.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Europeans&#8217; frequent country-hopping is enviable and, as discovered, highly affordable due to budget airlines. Image: Dall-E 3</figcaption></figure>
In Europe, zipping across to multiple countries without emptying your wallet is the norm, thanks to an array of budget airlines like Ryanair and EasyJet. Living in Ireland, Donahue managed to explore over 10 countries, from Italy to Greece, often snagging flight deals for as little as 20 euros. The convenience and affordability of travel in Europe allowed her to immerse herself in diverse cultures and landscapes, something that would have been much pricier back home.
<h3 class="wp-block-heading">Generous Paid Time Off</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102726/europe-better-than-america-2-1024x576.jpeg" alt="European labor laws ensure substantial paid vacation, a stark contrast to the US. Image: Dall-E 3" class="wp-image-332712" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102726/europe-better-than-america-2-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102726/europe-better-than-america-2-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102726/europe-better-than-america-2-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102726/europe-better-than-america-2.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">European labor laws ensure substantial paid vacation, a stark contrast to the US. Image: Dall-E 3</figcaption></figure>
Europe takes work-life balance seriously. In her stint there, she enjoyed 29 paid vacation days, plus public holidays, adding up to roughly 40 days off per year. That&#8217;s a stark contrast to the US, where many don&#8217;t even get paid time off. European companies don&#8217;t just offer vacation; they encourage you to take it to recharge fully.
<h3 class="wp-block-heading">Multilingual Culture</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102817/europe-better-than-america-3-1024x576.jpeg" alt="Unlike the US, where bilingualism isn't emphasized, Europe fosters multilingual education from a young age. Image: Dall-E 3" class="wp-image-332715" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102817/europe-better-than-america-3-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102817/europe-better-than-america-3-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102817/europe-better-than-america-3-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102817/europe-better-than-america-3.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Unlike the US, where bilingualism isn&#8217;t emphasized, Europe fosters multilingual education from a young age. Image: Dall-E 3</figcaption></figure>
Unlike the US, where bilingualism isn&#8217;t as emphasized, Europe thrives on multilingualism. From Dutch to Portuguese, the people she met in Dublin could easily switch between languages, something that both impressed and inspired Donahue.
<h3 class="wp-block-heading">Quality And Prices Of Food</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102853/europe-better-than-america-4-1024x576.jpeg" alt="The availability and affordability of fresh, high-quality food were starkly different in Europe. Image: Dall-E 3" class="wp-image-332720" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102853/europe-better-than-america-4-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102853/europe-better-than-america-4-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102853/europe-better-than-america-4-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10102853/europe-better-than-america-4.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The availability and affordability of fresh, high-quality food were starkly different in Europe. Image: Dall-E 3</figcaption></figure>
The quality and affordability of fresh produce in Europe were a revelation. Markets brimming with fresh fruits, vegetables, and artisanal products like bread and cheese were regular sights. In Ireland, Donahue spent about $50 weekly on groceries, a figure that has at least tripled since returning to Boston.
<h3 class="wp-block-heading">Affordable College Tuition</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103004/europe-better-than-america-5-1024x576.jpeg" alt="Pursuing higher education in Europe also proved more economical. Image: Dall-E 3" class="wp-image-332737" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103004/europe-better-than-america-5-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103004/europe-better-than-america-5-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103004/europe-better-than-america-5-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103004/europe-better-than-america-5.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Pursuing higher education in Europe also proved more economical. Image: Dall-E 3</figcaption></figure>
Tuition fees in Europe can be a fraction of those in the US. Donahue earned her master&#8217;s degree from Trinity College Dublin for about $20,000 per year — half of what she would have paid stateside. This affordability makes higher education more accessible and less financially daunting in Europe.
Image Created Using Dall-E 3

Education

From Affordable Tuition To Paid Time Off: 5 Ways Europe Outshines US, According To American Expat In Ireland

Mother's Day is right around the corner and if you are away from home, a mere phone call may not be enough to express your love and gratitude to your mother. If you are away from your home for work or education or live in a different city or country, you can still use these ideas below to make this day special for your mother.
<h3 class="wp-block-heading">Create A Video Collage</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035139/Mothers-Day-1-1024x585.jpg" alt="" class="wp-image-333573" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035139/Mothers-Day-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035139/Mothers-Day-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035139/Mothers-Day-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035139/Mothers-Day-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035139/Mothers-Day-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of a collage &#x7C; Image generated using Dall-E</figcaption></figure>
One of the most thoughtful ways to surprise your mother is to create a video collage of some of your best memories with your mother, using old family photos and videos. You can also include the other ladies in her life, such as her mother and sisters to make it more special.
<h3 class="wp-block-heading">Order Her Favorite Food</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035210/Mothers-Day-2-1024x585.jpg" alt="" class="wp-image-333574" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035210/Mothers-Day-2-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035210/Mothers-Day-2-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035210/Mothers-Day-2-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035210/Mothers-Day-2-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035210/Mothers-Day-2.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of food &#x7C; Image generated using Dall-E</figcaption></figure>
One of the simplest and most thoughtful ways of making your mother feel special on the day is by ordering her favorite food and getting it delivered through any food delivery application.
<h3 class="wp-block-heading">Write Her A Letter</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035227/Mothers-Day-3-1024x585.jpg" alt="" class="wp-image-333575" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035227/Mothers-Day-3-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035227/Mothers-Day-3-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035227/Mothers-Day-3-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035227/Mothers-Day-3-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035227/Mothers-Day-3.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Handwritten letters add a personal touch &#x7C; Image generated using Dall-E</figcaption></figure>
If you want to do something thoughtful, you can send a handwritten letter to your mother, writing everything you want to say to her. This can include some of the fond memories that you share with your mother and some special moments.
<h3 class="wp-block-heading">Send Her A Gift</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035253/Mothers-Day-4-1024x585.jpg" alt="" class="wp-image-333576" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035253/Mothers-Day-4-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035253/Mothers-Day-4-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035253/Mothers-Day-4-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035253/Mothers-Day-4-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035253/Mothers-Day-4.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Everyone loves gifts &#x7C; Image generated using Dall-E</figcaption></figure>
Another way to make your mother feel special is by sending her a gift, be it something that she wants or something simple like flowers and chocolates. You need to pick something that she likes and put some thought into it.
<h3 class="wp-block-heading">Invite Her For A Vacation</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035310/Mothers-Day-5-1024x585.jpg" alt="" class="wp-image-333577" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035310/Mothers-Day-5-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035310/Mothers-Day-5-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035310/Mothers-Day-5-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035310/Mothers-Day-5-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/11035310/Mothers-Day-5.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Vacations are always welcome &#x7C; Image generated using Dall-E</figcaption></figure>
Another thoughtful thing you can do is invite her for a vacation to where you live for a few days. You can surprise her with flight tickets to your city and spend some time with her.
Image Via Pexels

Mother's Day 2024: Heartfelt Ways To Make Mom's Day Special, No Matter The Distance

Former President Donald Trump criticized the gag order imposed on his ex-lawyer Michael Cohen by Judge Juan Merchan in the ongoing <a href="https://www.benzinga.com/news/24/05/38751527/stormy-daniels-says-nobody-would-ever-want-to-publicly-say-they-had-sex-with-trump-as-ex-presidents">hush money trial</a>, branding it a &#8220;joke&#8221; and a &#8220;disgrace.&#8221;
What Happened: Trump expressed his disapproval of the gag order during his hush money trial on Friday, <a href="https://thehill.com/regulation/court-battles/4656568-trump-disgrace-judge-merchan-michael-cohen">reported</a> The Hill. The order restricts Cohen from discussing the case publicly as his testimony nears.
Trump&#8217;s legal team has repeatedly criticized Cohen&#8217;s public criticisms, arguing that the ex-president&#8217;s ability to respond is limited under the terms of the gag order.
Trump&#8217;s attorney, Todd Blanche, requested that Cohen be prohibited from speaking publicly in the same way that Trump is restricted. Judge Merchan directed prosecutors to inform Cohen to refrain from making any further statements about the case.
Cohen is expected to testify on Monday and has been identified as a key witness for the district attorney&#8217;s office. He made a $130,000 hush money payment to adult film actress Stormy Daniels, who alleged she had an affair with Trump in 2006, a claim he denies.
See Also: <a href="https://www.benzinga.com/news/24/05/38719664/trump-disapproves-marjorie-taylor-greenes-bid-to-oust-house-speaker-mike-johnson-shes-got-fight-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Disapproves Marjorie Taylor Greene&#8217;s Bid To Oust House Speaker Mike Johnson: &#8216;She&#8217;s Got Fight&#8230;But This Is Not The Time'</a>
Trump&#8217;s gag order prevents him from attacking witnesses, jurors, prosecutors, court staff, and the judge&#8217;s family. However, it does not prevent him from criticizing the judge or Manhattan District Attorney Alvin Bragg.
Why It Matters: The <a href="https://www.benzinga.com/general/politics/24/05/38687167/stormy-daniels-wants-trump-to-be-held-accountable-go-to-jail-former-presidents-lawyers-call-for-">criminal trial</a> against Trump alleges that he falsified business records for a hush money payment made to Daniels. The trial has seen several key witnesses, including Daniels herself, take the stand.
Daniels testified that she never asked for the money, which Trump <a href="https://www.benzinga.com/general/politics/24/05/38749159/stormy-daniels-says-she-never-asked-for-money-in-trump-hush-money-case-former-president-declares">allegedly paid</a> to keep their affair a secret. Trump has consistently criticized the trial, calling it &#8220;fake&#8221; and asserting his innocence.
Earlier this week, Judge Merchan found Trump in violation of the gag order for the 10th time and ordered him to pay a $1,000 fine for attacking jurors. Trump stated he would be <a href="https://www.benzinga.com/general/politics/24/05/38771094/trump-lashes-out-at-fake-hush-money-criminal-trial-ahead-of-michael-cohens-monday-testimony-id-b">&#8220;very proud&#8221; to go to jail</a> for violating the gag order.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump Slams Judge's Gag Order On His Former Lawyer As 'A Disgrace:' 'What He Just Did Now Is A Joke'

Wedbush analyst&nbsp;Dan Ives&nbsp;is of the opinion that China would retaliate if the U.S. were to increase tariffs on electric vehicle imports from China. 
What Happened: &#8220;Retaliatory definitely could happen. This Game of Thrones continues to play out,&#8221; Ives said in an<a href="https://www.youtube.com/watch?v=O3F328rYMaM"> interview</a> with Bloomberg. As per an exclusive report from The Wall Street Journal, the Biden administration is planning to raise the tariffs on China&#8217;s EVs from 25% to around 100%, with an additional 2.5% duty on all imported cars into the U.S.
Low-cost EVs from China entering the U.S. market would pose a significant challenge to EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as well as other traditional U.S. automakers who have made substantial investments in EVs, Ives said. However, retaliatory action is a concern, he added.
Why It Matters: The Biden administration&#8217;s decision to impose new tariffs on China&#8217;s EVs is part of a broader strategy to target strategic sectors. The new tariffs, which are expected to be announced as soon as next week, will<a href="https://www.benzinga.com/news/24/05/38758049/biden-plans-new-tariffs-on-china-targets-electric-vehicles-and-other-strategic-sectors-report"> reportedly also cover batteries and solar cells</a>. This move is likely to have significant implications for the global EV market and could potentially escalate trade tensions between the U.S. and China.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38722034/teslas-head-of-product-launches-departs-after-feeling-ev-giant-took-pound-of-flesh-amid-mass-firings" target="_blank" rel="noreferrer noopener">Tesla's Head Of Product Launches Departs After Feeling EV Giant Took ‘Pound Of Flesh' Amid Mass Firings: ‘It's Hard To See The Long Game'</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo by Khanthachai C on Shutterstock

Analyst Color

China Likely To Retaliate Against US Tariffs On Electric Vehicles, Says Top Analyst Dan Ives: 'Game Of Thrones Continues To Play Out'

The ongoing solar storm hitting Earth and expected to disrupt communication over the weekend have not spared <a href="https://www.benzinga.com/news/24/04/38475303/elon-musk-says-spacex-to-solve-in-space-refueling-for-starship-by-next-year-necessary-to-make-life-m">SpaceX satellites</a>.
What Happened: &#8220;SpaceX satellites are feeling this solar storm,&#8221; company CEO Elon Musk wrote on X. &#8220;It&#8217;s big.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">SpaceX satellites are feeling this solar storm. It's big.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789119054319657295?ref_src=twsrc%5Etfw">May 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
SpaceX has nearly 6000 <a href="https://www.benzinga.com/news/24/04/38490438/challenge-accepted-spacex-ceo-elon-musk-agrees-to-make-falcon-boosters-support-42-missions-after-ret">Starlink satellites in orbit</a>, according to Astronomer Jonathan McDowell who tracks them. While the satellites are under a lot of pressure, they are holding up so far, Musk said, while adding that the storm is the &#8220;biggest in a long time.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Major geomagnetic solar storm happening right now. Biggest in a long time. Starlink satellites are under a lot of pressure, but holding up so far. <a href="https://t.co/TrEv5Acli2">pic.twitter.com/TrEv5Acli2</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789173902289338518?ref_src=twsrc%5Etfw">May 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The sun has produced moderate to strong solar flares since Wednesday. Solar material eruptions that accompany these flares, called coronal mass ejections (CMEs), cause geomagnetic storms when they reach Earth&#8217;s surface. The National Oceanic and Atmospheric Administration (NOAA) issued a warning of a geomagnetic storm for Friday evening and said that storm conditions may last through the weekend. 
The solar storm hitting Earth could produce displays of aurora in the U.S. as far south as Northern California and also pose the risk of disrupting power and communications due to their impact on infrastructure in near-Earth orbit and Earth&#8217;s surface, the NOAA said, while adding that it has already warned these system operators to take protective actions.
&#8220;This is an unusual and potentially historic event,&#8221; NOAA&#8217;s Space Weather Prediction Center Director Clinton Wallace said about the storm. &nbsp;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38774504/tesla-analyst-sees-annual-shareholder-meeting-as-key-to-determining-elon-musk-led-c">Tesla Analyst Sees Annual Shareholder Meeting As Key To Determining Elon Musk-Led Company&#8217;s Future Strategy</a>
Photo by Evgeniyqw on Shutterstock<a href="https://twitter.com/elonmusk"></a>

SPACE

Elon Musk Says SpaceX Satellites Impacted By Ongoing Solar Storm: '…But Holding Up So Far'

OpenAI COO Brad Lightcap on Thursday said that it is still premature to assess the complete economic impact of artificial intelligence.
What Happened: Speaking at Bloomberg&#8217;s Tech <a href="https://www.bloomberg.com/news/newsletters/2024-05-10/openai-coo-says-it-s-too-soon-to-see-ai-s-full-impact-on-economy?srnd=technology-vp">Summit</a>, Lightcap said that the rise of generative AI has not yet significantly transformed the economy. However, he and other AI leaders anticipate more substantial changes in the future.
Despite the initial excitement surrounding AI&#8217;s potential to revolutionize&nbsp;productivity and create new jobs, the actual impact has been&nbsp;more subtle. While there have&nbsp;been some AI-driven layoffs, entire professions have not been replaced or created. It remains unclear how much additional work AI has facilitated.
Earlier this year, Jerome Powell, the chair of the Federal Reserve, stated that while generative AI can enhance productivity growth, it is unlikely to do so in the immediate future.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38689467/elon-musk-isnt-sure-apples-showed-its-entire-30b-r-d-prowess-with-new-ipads-maybe-they-have-some-sec?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Isn&#8217;t Sure If Apple Showed Its Entire $30B R&amp;D Prowess With New iPads: &#8216;Maybe They Have Some Secret Products…&#8217;</a>
Lightcap suggested that it is still too early to determine whether the potential of AI has been overhyped. He humorously remarked that reshaping the economy within a year would be a tall order. &#8220;We have a year to reshape the economy? That's a tall order!&#8221;
If OpenAI were to cease all future AI development, which is not the case, Nightcap suggested that it would still require considerable time for the complete ramifications of its existing models to materialize. However, he is &#8220;fairly confident at this point that there would be this 10- to 20-year diffusion period through the economy of just GPT-4 level technology.&#8221;
Other AI leaders at the event echoed Lightcap&#8217;s sentiments, emphasizing the technology&#8217;s long-term disruptive potential despite its relatively muted early effects.
&#8220;We are probably going to overestimate this technology in the short-term,&#8221; said Clement Delangue, chief executive officer of Hugging Face. &#8220;Maybe we're going to be disappointed in a year, or two years, but we've also probably underestimated the long-term impact of AI in 10 years. The world is going to be very different.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.&nbsp;
Why It Matters: OpenAI and other AI companies are actively preparing for this future. OpenAI, for instance,&nbsp;has been expanding its enterprise&nbsp;business,&nbsp;selling a customized version of&nbsp;ChatGPT to numerous corporate clients. Moreover, on Friday, it was also reported that&nbsp;Apple Inc. is on the verge of&nbsp;<a href="https://www.benzinga.com/news/24/05/38774065/apple-chooses-sam-altman-led-openai-to-integrate-chatgpt-into-iphone-deal-almost-done-report">integrating ChatGPT into its iPhones</a>. 
Meanwhile, OpenAI&#8217;s CEO,&nbsp;Sam Altman, has&nbsp;<a href="https://www.benzinga.com/news/24/05/38774244/openais-sam-altman-shoots-down-search-engine-and-gpt-5-rumors-teases-may-13-event-some-new-stuff-peo">denied rumors of developing</a> a search engine or launching GPT-5, instead teasing &#8220;some new stuff&#8221; the company is working on. Previously, it was reported that OpenAI is set to announce its <a href="https://www.benzinga.com/news/24/05/38751052/googles-new-rival-may-finally-be-here-sam-altmans-openai-could-launch-it-just-ahead-of-search-giants">AI-powered search product</a>, potentially intensifying its rivalry with&nbsp;Alphabet Inc.&#8216;s&nbsp;Google. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/government/24/05/38698335/joe-biden-set-to-unveil-microsofts-3b-ai-data-center-plan-on-same-wisconsin-land-where-trump-tried-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joe Biden Set To Unveil Microsoft&#8217;s $3B AI Data Center Plan On Same Wisconsin Land Where Trump Tried To Execute His Mega Foxconn Fantasy</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo via Shutterstock

OpenAI Top Exec Says It's Too Early To Gauge AI's Full Economic Impact: 'We've A Year To Reshape The Economy? That's A Tall Order'

Whitney Wolfe Herd, the founder of Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), has suggested that artificial intelligence (AI) could revolutionize the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38733540/bumble-could-close-value-gap-to-tinders-parent-company-expert-predicts-45-upside-on">online dating industry</a>.
What Happened: Herd discussed the potential of AI in modern dating at the <a href="https://www.bloomberg.com/news/videos/2024-05-09/how-bumble-will-use-ai-to-create-healthier-relationships">Bloomberg</a> Technology Summit.
She proposed the idea of an &#8220;AI dating concierge&#8221; that could help users navigate their insecurities and even go on dates on their behalf. Herd believes that AI could alleviate the pressure on human users and foster healthy relationships.
She also suggested that AI could teach users how to flirt, potentially addressing the issue of the average U.S. single not dating due to a lack of confidence or fear.
See Also: <a href="https://www.benzinga.com/news/24/05/38774244/openais-sam-altman-shoots-down-search-engine-and-gpt-5-rumors-teases-may-13-event-some-new-stuff-peo">OpenAI's Sam Altman Shoots Down Search Engine And GPT-5 Rumors, Teases May 13 Event: &#8216;Some New Stuff…People Will Love&#8217;</a>
&#8220;If you want to get really out there, there is a world where your dating concierge could go and date for you with [an]other dating concierge,&#8221; she said. "No. No. Truly," she reiterated her stance when the audience gasped and chuckled.
Why It Matters: These comments come after <a href="https://www.benzinga.com/news/23/11/35641406/heres-why-bumbles-founder-and-ceo-whitney-wolfe-herd-is-stepping-down-after-nearly-10-years">Herd&#8217;s resignation</a> as Bumble&#8217;s CEO in January 2024 after a decade-long tenure at the top, with Lidiane Jones taking over.
Under Jones&#8217; leadership, Bumble has made significant changes, such as removing the requirement for women to send the first message, a feature that was previously a signature of the app.
Besides, Herd&#8217;s vision for AI in online dating is not entirely new. In a previous interview, she spoke about the <a href="https://www.benzinga.com/news/23/08/34147942/combating-loneliness-with-artificial-intelligence-bumbles-new-approach-to-relationship-building">potential of AI</a> to transform relationships, acknowledging the concerns around AI&#8217;s impact on human companionship.
Price Action: Bumble's shares closed at $11.45 on Friday, unchanged from the previous close, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38696261/prominent-apple-bull-reveals-surprise-takeaway-from-apples-ipad-launch-tim-cooks-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Prominent Apple Bull Reveals Surprise Takeaway From Apple&#8217;s iPad Launch: Tim Cook&#8217;s AI Ambitions</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

BMBL

Tired Of Swiping Left And Right? Bumble Founder Says AI Could Do It For You: 'No. No. Truly'

Morgan Stanley&nbsp;analyst&nbsp;Adam Jonas sees Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) upcoming shareholder vote driving material volatility in the stock and determining the company&#8217;s long-term strategic direction as company CEO Elon Musk&#8216;s pay package hangs in limbo. 
Analyst Recommendation: For the upcoming shareholder meeting scheduled for June, Tesla shareholders will vote again on Musk&#8217;s 2018 pay package which was rescinded by a Delaware court earlier this year after deeming it an &#8220;unfathomable sum.&#8221; The package was worth $56 billion at the time of award. 
The outcome of the vote on the package will be key to determining if the CEO gets a 25% voting block within the company, Jonas said in a note on Friday. Musk has previously expressed discomfort with advancing Tesla in the field of AI without having 25% voting. While the approval of the pay package by itself does not assure the CEO of his desired voting block, it would make it &#8220;increasingly difficult&#8221; for Musk to achieve <a href="https://www.benzinga.com/news/24/01/36652560/elon-musk-wants-to-own-25-of-tesla-heres-how-much-of-the-ev-stock-the-ceo-owns">25% ownership </a>if the package is rejected, the analyst noted.
Tesla&#8217;s AI potential will remain limited and its share price dominated by larger EV market developments until Musk&#8217;s voting control issue is resolved, Jonas said. &#8220;This is extremely problematic for Tesla investors for a number of reasons, including the inability to quantify the impact,&#8221; he said. 
The attention being paid to the performance of the stock since the start of the year, however, is &#8216;surprisingly little,&#8217; the analyst noted. 
Why It Matters: Tesla&#8217;s annual meeting will be held on June 13, 2024, at 3:30 p.m. Central Time (CT).&nbsp;Shareholders will vote both on moving Tesla&#8217;s state of incorporation from Delaware to Texas and <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package">Musk&#8217;s rescinded pay package</a>. 
Price Action:&nbsp;Tesla shares closed down 2% on Friday at $168.47. The stock is down 32.2% year-to-date, as per data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/markets/equities/24/05/38774344/chinese-tesla-rival-zeekr-soars-35-on-nyse-debut-valuation-hits-6-8b">Chinese Tesla Rival Zeekr Soars 35% On NYSE Debut, Valuation Hits $6.8B</a>
Photo via Shutterstock

Tesla Analyst Sees Annual Shareholder Meeting As Key To Determining Elon Musk-Led Company's Future Strategy

New York-listed shares of ZEEKR Intelligent Technology Holding Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>) closed nearly 35% higher than <a href="https://www.benzinga.com/markets/equities/24/05/38756035/chinas-zeekr-prices-us-ipo-at-top-end-of-estimated-range-whats-on-the-cards">its initial public offering price</a> on its first day of trading on Friday. 
What Happened: ZEEKR, the global electric mobility technology brand of Chinese automaker&nbsp;Geely Automobile&nbsp;Holding&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>), had priced its U.S. initial public offering (IPO) of&nbsp;21 million American Depositary Shares (ADS) at&nbsp;$21&nbsp;per share. 
The shares of Tesla Inc&#8217;s Chinese rival closed at $28.26 on Friday after opening at $26, giving the company a fully diluted valuation of $6.8 billion.
"There are huge demands and opportunities in the global new energy vehicle market. Zeekr is positioned as a premium electric mobility brand and is an important pillar supporting Geely's electric transformation. I believe that Zeekr will be able to seize this historic opportunity and become a sustainable business that unlocks long-term value for users, investors and society,&#8221; Geely Holding Chief Executive Daniel Li said. Geely also owns Volvo Cars and Lotus Cars.
Why It Matters: Zeekr started delivering its vehicles in October 2021, and the brand has delivered over 240,000 vehicles to date. The company has announced plans to sell vehicles in European, Middle Eastern, and other Asian markets. 
Zeekr disclosed a surge in total revenue to 51.67 billion yuan&nbsp;($7.15 billion)&nbsp;in 2023, but its net loss widened to 8.26 billion yuan.&nbsp;
Zeekr&#8217;s debut on the New York Stock Exchange comes as other U.S. EV makers have been<a href="https://www.benzinga.com/news/24/05/38699990/tesla-stock-is-sliding-wednesday-whats-going-on"> facing a stock slump</a>. Tesla stock has slumped 32.2% year-to-date while Rivian stock has slumped nearly 52.7%. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38729359/hertz-customer-fumes-after-car-rental-company-charges-him-277-for-refueling-tesla-and-refuses-to-rei" target="_blank" rel="noreferrer noopener">Hertz Customer Fumes After Being Billed $277 For ‘Refueling&#8217; Tesla, Car-Rental Company Says It Will Refund ‘Erroneous&#8217; Charge</a>
Image Credits &#8211; Shutterstock

GELYY

Chinese Tesla Rival Zeekr Soars 35% On NYSE Debut, Valuation Hits $6.8B

Elon Musk hit back at the Australian Prime Minister Anthony Albanese after he talked about the need for a "social license" as <a href="https://www.benzinga.com/government/24/05/38751844/australia-calls-for-inquiry-into-metas-facebook-elon-musks-x-tiktok-to-make-these-platforms-accounta">his government intensified scrutiny</a> of social media platforms.
What Happened: Musk, the single largest shareholder of X, formerly Twitter, slammed the Australian government, implying that a "social license" would amount to "suppressing" the rights of Australians.
His response was in reaction to the Australian government&#8217;s criticism of social media platforms for not promptly removing violent posts. The government is seeking more oversight over content posted on Meta&#8217;s Facebook, TikTok, and Musk&#8217;s X.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
"With social media comes the need for a social license and a social responsibility," Albanese said in a press conference.
Reacting to it, Musk posted, "I doubt that the people of Australia agree with suppressing their rights."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I doubt that the people of Australia agree with suppressing their rights <a href="https://t.co/FXh0crGGYH">https://t.co/FXh0crGGYH</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789039218607747137?ref_src=twsrc%5Etfw">May 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/05/38759440/elon-musk-gets-another-vote-of-confidence-from-twitter-co-founder-jack-dorsey-elon-made-the-right-ch">Elon Musk Gets Another Vote Of Confidence From Twitter Co-Founder Jack Dorsey: &#8216;Elon Made…The Right Choice&#8217;</a>
Why It Matters: The Australian government has <a href="https://www.benzinga.com/news/24/04/38368734/elon-musk-hits-back-at-australias-leader-amid-row-over-removal-of-violent-video-from-x-does-the-pm-t">been at odds with Musk&#8217;s X</a> over a regulatory order to remove videos of a stabbing attack on an Assyrian church bishop in Sydney last month.
Earlier, the Australian government had announced a parliamentary inquiry into the operations of major social media platforms, including Meta Platforms Inc.'s Facebook, TikTok, and X, to address the influence of these platforms.
Albanese&#8216;s Labor government is already in a legal battle with Musk&#8217;s X over the regulatory order.
Musk, who has been vocal about free speech, has also been <a href="https://www.benzinga.com/news/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap">critical of the Biden administration's</a> TikTok ban bill, fearing that it sets a "precedent" for banning any other app the government does not like.
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38727604/chuck-schumer-offers-to-provide-ai-regulation-framework-for-healthcare-labor-rights-and-doomsday-sce" target="_blank" rel="noreferrer noopener">Chuck Schumer Offers To Provide AI Regulation Framework For Healthcare, Labor Rights, And ‘Doomsday Scenarios' As US Looks To Catch Up With EU</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Elon Musk Slams Australian Government For Saying 'Social License' Is Required Amid Tussle With X: 'Doubt...People Of Australia Agree With Suppressing Their Rights'

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Landos Biopharma (NASDAQ:<a href="https://investorplace.com/stock-quotes/labp-stock-quote/">LABP</a>) stock is on the rise Monday after the company announced <a href="https://finance.yahoo.com/news/abbvie-acquire-landos-biopharma-further-123100442.html">an acquisition deal</a> with AbbVie&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/abbv-stock-quote/">ABBV</a>).



AbbVie&nbsp;is acquiring Landos Biopharma for $20.42&nbsp;per share in cash. That represents a roughly 160.8% premium over the stock&rsquo;s closing price on Friday. It also comes to $137.5 million for the clinical-stage biopharmaceutical company.



In addition to this, the deal includes one non-tradable contingent value right per share. This can have a value of up to $11.14 per share, or $75 million. This is tied to the achievement of a clinical development milestone.



Roopal Thakkar, senior vice president and Chief Medical Officer of global therapeutics at AbbVie, said the following about the acquisition.




&ldquo;With this acquisition, we aim to advance the clinical development of NX-13, a differentiated, first-in-class, oral asset with the potential to make a difference in the lives of people living with ulcerative colitis and Crohn&rsquo;s disease.&rdquo;




<h2>How This Affects LABP Stock</h2>



Investors are excited about the deal with AbbVie, which is set to close in Q2 2024. This also brings with it heavy trading of the company&rsquo;s shares. As a result, more than 365,000 units have traded on Monday afternoon. That&rsquo;s well above its daily average trading volume of about 10,000 shares.



LABP stock is up 168.4% as of this writing.



Investors can find more of the most recent stock market stories ready to go at the links below!



We have all of the hottest stock market news on Monday! That includes everything happening with shares of Ocugen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/ocgn-stock-quote/">OCGN</a>) stock, D-MARKET Electronic&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/heps-stock-quote/">HEPS</a>) and Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) stock today. You can find out more on these matters at the links below!



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



<ul><li><a href="https://investorplace.com/2024/03/why-is-ocugen-ocgn-stock-up-20-today/">Why Is Ocugen (OCGN) Stock Up 20% Today?</a></li>



<li><a href="https://investorplace.com/earning-results/2024/03/heps-stock-earnings-d-market-electronic-for-q4-of-2023/">HEPS Stock Earnings: D-MARKET Electronic Reported Results for Q4 2023</a></li>



<li><a href="https://investorplace.com/2024/03/mizuho-just-slashed-its-price-target-on-tesla-tsla-stock/">Mizuho Just Slashed Its Price Target on Tesla (TSLA) Stock</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/03/why-is-landos-biopharma-labp-stock-up-168-today/">Why Is Landos Biopharma (LABP) Stock Up 168% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Landos Biopharma (LABP) Stock Up 168% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investors are wondering if the stock market is closed on Good Friday 2024 as they prepare for the upcoming Easter weekend.



The quick answer to this is that <a href="https://www.nyse.com/markets/hours-calendars">the stock market is closed</a> for Good Friday. This is a holiday that is recognized by public exchanges in the U.S. but there&rsquo;s more worth knowing.



For example, Good Friday is not recognized as a holiday by the Federal Reserve System. That means that banks are going to continue operations even on the holiday.



Another thing to note is that bond markets will continue to be open on Good Friday. However, they will <a href="https://www.sifma.org/resources/general/holiday-schedule/">close early at 2:00 p.m. Eastern Time</a> in observance of the holiday.



<h2>2024 Holidays: When is the Stock Market Closed?</h2>



There are even more holidays when the stock market is closed in 2024. Let&rsquo;s go over them real quick below!



<ul><li>Memorial Day &mdash; Monday, May 27</li>



<li>Juneteenth National Independence Day &mdash; Wednesday, June 19</li>



<li>Independence Day &mdash; Thursday, July 4</li>



<li>Labor Day &mdash; Monday, September 2</li>



<li>Thanksgiving Day &mdash; Thursday, November 28</li>



<li>Christmas Day &mdash; Wednesday, December 25</li>
</ul>Until Good Friday gets here, InvestorPlace will continue to offer all of the hottest stock market news traders need to know about this week.



That includes all of the hottest market news worth reading about on Monday! Among that is what has shares of Landos Biopharma&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/labp-stock-quote/">LABP</a>), Ocugen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/ocgn-stock-quote/">OCGN</a>) and D-MARKET Electronic&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/heps-stock-quote/">HEPS</a>) stock on the move today. You can catch up on all of these matters at the links below!



<h2>More Stock Market News for Thursday</h2>



<ul><li><a href="https://investorplace.com/2024/03/why-is-landos-biopharma-labp-stock-up-168-today/">Why Is Landos Biopharma (LABP) Stock Up 168% Today?</a></li>



<li><a href="https://investorplace.com/2024/03/why-is-ocugen-ocgn-stock-up-20-today/">Why Is Ocugen (OCGN) Stock Up 20% Today?</a></li>



<li><a href="https://investorplace.com/earning-results/2024/03/heps-stock-earnings-d-market-electronic-for-q4-of-2023/">HEPS Stock Earnings: D-MARKET Electronic Reported Results for Q4 2023</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/03/is-the-stock-market-closed-on-good-friday-2024/">Is the Stock Market Closed on Good Friday 2024?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Is the Stock Market Closed on Good Friday 2024?

CGC, CYTO and IDN are among mid-day movers

These Healthcare stocks are trading higher:-Landos Biopharma Inc (LABP) stock is trading at $21.30, a rise of $13.47, or 172.03%, on high volume.  Landos Biopharma Inc gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Buy with a price target of $5.00.  -Vyne Therapeu

Healthcare Stocks Moving Monday: LABP, VYNE, CYTO, NKTX, IVVD, ATNF, ADIL, CGC

In a report released on March 25, Thomas Smith from Leerink Partners maintained a Hold rating on Landos Biopharma (LABP – Research Report). The com...

Leerink Partners Remains a Hold on Landos Biopharma (LABP)

Landos Biopharma (LABP – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from ...

Maintaining Hold Rating on Landos Biopharma Amid Acquisition by AbbVie and Limited Upside Potential

Shares of MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) have delivered exceptional gains year-to-date. Maintaining the uptrend...

This Biopharma Stock Outperformed MSTR and SMCI in March 2024

The pharmaceutical industry is growing steadily, focusing more on technological innovation, precision medicine, and strategic mergers and acquisitions (M&A). So, let's take a look at pharma giants Novo Nordisk A/S (NVO), Johnson & Johnson (JNJ), Merck & Co. (MRK), and AbbVie (ABBV) igniting investor interest. Keep reading… The pharma industry is witnessing considerable growth due to growing healthcare needs amid increasing chronic disease prevalence and the rise of e-pharma. Pharma companies are also increasingly adapting to meet rising demand and market dynamics via the latest technology and innovation.
Thus, investors could consider investing in top pharma stocks Novo Nordisk A/S (<a href="https://stocknews.com/stock/NVO/">NVO</a>), Johnson &amp; Johnson (<a href="https://stocknews.com/stock/JNJ/">JNJ</a>), Merck &amp; Co., Inc. (<a href="https://stocknews.com/stock/MRK/">MRK</a>), and AbbVie Inc. (<a href="https://stocknews.com/stock/ABBV/">ABBV</a>) for potential returns.
The global use of medicines is forecasted to <a href="https://www.iqvia.com/insights/the-iqvia-institute/reports-and-publications/reports/the-global-use-of-medicines-2024-outlook-to-2028#:~:text=Global%20use%20of%20medicines%20grew,increase%20by%2038%25%20through%202028">grow by 12%</a> through 2028, reaching 3.80 trillion defined daily doses. The U.S. market outlook is raised by 3 percentage points to 2-5% CAGR through 2028, reflecting increased patient use of higher-value therapies and recent growth.
Besides, in January 2024, global pharma output and sales are forecasted to increase by 4.6% and 5.1%, respectively. In the U.S., pharmaceutical output is expected to <a href="https://atradius.com.mx/documents/industry-trends-pharmaceuticals-january-2024.pdf">grow by 1.4%</a>, supported by strong liquidity and an aging population driving demand for medicines.
In addition, this year, the pharma and life sciences sector anticipates robust deal activity, <a href="https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html">ranging from $225 billion to $275 billion</a>, focusing on innovation and clinical differentiation. M&amp;A efforts will prioritize precision medicine, oncology, immunology, weight loss, and cardiovascular therapeutics to drive growth and deliver value in a competitive environment.
Further, the AI pharma market is witnessing significant growth due to increasing adoption for clinical trials, cross-industry collaborations, and the need to reduce drug discovery timelines and costs. The AI in the pharmaceutical market is estimated at $3.05 billion in 2024 and is expected to grow at a <a href="https://www.mordorintelligence.com/industry-reports/artificial-intelligence-in-pharmaceutical-market">CAGR of 42.7%</a> to reach $18.06 billion by 2029.
Considering these favorable market trends, let's discuss the fundamentals of the four best <a href="https://stocknews.com/category/pharmaceuticals/">Medical – Pharmaceuticals</a> stocks, starting with the fourth choice.
Stock #4: Novo Nordisk A/S (<a href="https://stocknews.com/stock/NVO/">NVO</a>)
Based in Bagsvaerd, Denmark, NVO is a pharmaceutical company specializing in diabetes, obesity, and rare diseases, focusing on research, development, and distribution of pharmaceutical products. It offers a range of treatments, including insulin pens, growth hormone pens, and smart solutions for diabetes management.
On April 8, 2024, NVO reported initiating a share repurchase program on February 6, 2024, intending to repurchase up to DKK20 billion ($2.91 billion) worth of B shares over 12 months. As of April 5, 2024, the company had repurchased 1.72 million B shares at an average price of DKK864.38 ($125.64) per share, totaling DKK1.48 billion ($215.66 million).
On March 25, NVO announced its intentions to acquire Cardior Pharmaceuticals for up to €1.03 billion ($1.11 billion), bolstering its cardiovascular disease pipeline with Cardior's lead compound, CDR132L. This move reflects NVO's strategic focus on addressing significant unmet needs in cardiovascular therapy through internal and external innovation.
For the fourth quarter ended December 31, 2023, NVO's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> increased 37% year-over-year to DKK65.86 billion ($9.57 billion). Its gross profit grew 40.2% from the year-ago quarter to DKK55.85 billion ($8.12 billion). Its operating and net profit rose 56.6% and 61.6% from the prior-year quarter to DKK26.77 billion ($3.89 billion) and DKK21.96 billion ($3.19 billion), respectively.
NVO expects a free cash flow (excluding impact from business development) of DKK64 billion ($9.30 billion) to 74 billion ($10.76 billion) for the fiscal year 2024.
Analysts expect NVO's revenue and EPS to increase 23.6% and 24% year-over-year to $41.61 billion and $3.35, respectively, for the fiscal year ending December 2024. Moreover, the company surpassed consensus revenue and EPS estimates in three of the trailing four quarters, which is promising.
NVO's shares have surged 62.4% over the past nine months and 38.4% over the past six months to close the last trading session at $127.46. Also, the stock gained 1.3% intraday.
NVO's <a href="https://stocknews.com/powr-ratings/">POWR</a><a href="https://stocknews.com/powr-ratings/"> Ratings</a> reflect this strong outlook. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted optimally.
The stock has a B grade for Sentiment and Quality. In the <a href="https://stocknews.com/category/pharmaceuticals/">Medical - Pharmaceuticals</a>  industry, NVO is ranked #12 among 161 stocks.
To access additional ratings for NVO's Growth, Value, Momentum, and Stability, click <a href="https://stocknews.com/stock/NVO/">here</a>.
Stock #3: Johnson &amp; Johnson (<a href="https://stocknews.com/stock/JNJ/">JNJ</a>)
JNJ is a global healthcare company that develops, manufactures, and sells a diverse range of healthcare products, including consumer health items, pharmaceuticals, and medical devices. With well-known brands like NEUTROGENA and JOHNSON'S, the company serves a broader customer base worldwide.
On April 5, 2024, JNJ acquired Shockwave Medical, Inc. (<a href="https://stocknews.com/stock/SWAV/">SWAV</a>) for $335 per share in cash, totaling approximately $13.10 billion, expanding its presence in cardiovascular intervention. The transaction is anticipated to close by mid-year 2024, subject to shareholder and regulatory approvals.
During the fourth quarter that ended December 31, 2023, JNJ's sales to customers and gross profit amounted to $21.40 billion and $14.60 billion, up 7.3% and 5.4% year-over-year, respectively. The company's adjusted net earnings and net earnings per share from continuing operations rose 2.4% and 11.7% year-over-year to $5.56 billion and $2.29, respectively.
Street expects JNJ's revenue and EPS to grow 3.8% and 7.5% year-over-year to $88.43 billion and $10.66 for the fiscal year ending December 2024, respectively.  Also, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
JNJ's stock has declined marginally intraday to close the last trading session at $151.59.
JNJ's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
JNJ has a B for Value, Stability, and Quality. Within the same industry, it is ranked #10.
<a href="https://stocknews.com/stock/JNJ/">Click here</a> for JNJ's additional POWR Ratings for Growth, Momentum, and Sentiment ratings.
Stock #2: Merck &amp; Co., Inc. (<a href="https://stocknews.com/stock/MRK/">MRK</a>)
MRK operates globally in healthcare, offering human health pharmaceuticals and veterinary products. Through collaborations with leading organizations, it aims to develop innovative treatments across various medical fields, including oncology, immunology, and neuroscience.
On April 5, 2024, MRK paid a quarterly dividend of $0.77 per common share for the second quarter of 2024. The company pays $3.08 annually, which translates to a yield of 2.43% on the prevailing price level. Its four-year average dividend yield is 2.95%.
The company's dividend payouts have grown at CAGRs of 7.7% and 8.8% over the past three and five years, respectively. Moreover, Merck has raised its dividends for 13 consecutive years.
On March 11, MRK finalized its acquisition of Harpoon Therapeutics, Inc. (<a href="https://stocknews.com/stock/HARP/">HARP</a>), making HARP a wholly-owned subsidiary, with MRK recording a non-tax deductible charge of around $650 million to R&amp;D expenses.
This acquisition will expand MRK's oncology pipeline, including MK-6070, currently in Phase 1/2 trial (NCT04471727) for advanced cancers, impacting approximately $0.26 per share on expected full-year non-GAAP EPS.
In the fourth quarter, which ended December 31, 2023, MRK's sales increased 5.8% from the prior-year quarter to $14.63 billion. In addition, non-GAAP net income attributable to MRK and EPS amounted to $67 million and $0.03, respectively.
For the fiscal year 2024, the company anticipates sales between $62.70 billion to $64.20 billion, with a non-GAAP EPS between $8.44 and $8.59.
Analysts expect revenue and EPS for the fiscal year ending December 2024 to grow 6.1% and 467.7% year-over-year to $63.78 billion and $8.57, respectively. Further, the company topped consensus revenue estimates in each of the trailing four quarters.
Shares of MRK have gained 7.8% over the past three months and 21.8% over the past six months to close the last trading session at $126.56.
MRK's POWR Ratings reflect this robust outlook. The stock has an overall A rating, translating to a Strong Buy in our proprietary rating system.
It has a B grade for Growth, Stability, Sentiment, and Quality. In the same industry, it is ranked #6.
In addition to the POWR Ratings stated above, access MRK's Value and Momentum ratings <a href="https://stocknews.com/stock/MRK/">here</a>.
Stock #1: AbbVie Inc. (<a href="https://stocknews.com/stock/ABBV/">ABBV</a>)
ABBV is a global pharmaceutical company known for its diverse portfolio, including medications like Humira, Skyrizi, and Imbruvica, addressing conditions ranging from autoimmune diseases to cancer and neurological disorders.
On March 25, 2024, ABBV announced a definitive agreement to acquire Landos Biopharma, Inc. (<a href="https://stocknews.com/stock/LABP/">LABP</a>) for about $137.50 million in cash, with additional contingent value rights of up to $75 million. The acquisition strengthens ABBV's portfolio in inflammatory and autoimmune diseases, particularly with Landos' lead asset, NX-13, targeting ulcerative colitis and Crohn's disease.
On February 28, ABBV and OSE Immunotherapeutics SA partnered to develop OSE-230, a novel monoclonal antibody targeting chronic inflammation. ABBV gained exclusive global rights, providing an upfront payment of $48 million and potential milestone payments totaling up to $665 million, with additional royalties on global sales of OSE-230.
ABBV reported net revenue of $14.30 billion in the fourth quarter that ended December 31, 2023. The company's operating earnings and net earnings stood at $3.20 billion and $824 million, respectively. Moreover, its adjusted EPS amounted to $2.79 for the quarter.
The company projects its adjusted EPS for the fiscal year 2024 to be between $11.05 and $11.25.
Analysts expect ABBV's revenue and EPS to grow marginally and 1.1% year-over-year to $54.54 billion and $11.23, respectively, for the fiscal year ending December 2024. The company surpassed the revenue estimates in three of the trailing four quarters.
Over the past nine months, the stock has soared 25.3% to close the last trading session at $169.80. Also, it gained 14.5% over the past six months.
ABBV's optimistic fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
ABBV has an A grade for Quality and a B for Growth, Value, and Stability. Within the same industry, it is ranked #5.
Beyond the POWR Ratings highlighted above, we have also rated ABBV for Momentum and Sentiment. Get all ABBV ratings <a href="https://stocknews.com/stock/ABBV/">here</a>.
What To Do Next?
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<hr />
NVO shares were trading at $124.71 per share on Tuesday morning, down $2.75 (-2.16%). Year-to-date, NVO has gained 21.17%, versus a 8.79% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/nvo-jnj-mrk-abbv-swav-harp-labp-4-pharma-giants-sparking-investor-interest/>4 Pharma Giants Sparking Investor Interest</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

4 Pharma Giants Sparking Investor Interest

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Landos Biopharma (NASDAQ:<a href="https://investorplace.com/stock-quotes/labp-stock-quote/">LABP</a>) just reported results for the first quarter of 2024.<ul><li>Landos Biopharma reported earnings per share of -$1.43. This was below the analyst estimate for EPS of -$1.00.</li><li>The company did not report any revenue for the quarter.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/labp-stock-earnings-landos-biopharma-for-q1-of-2024/">LABP Stock Earnings: Landos Biopharma Misses EPS for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

LABP Stock Earnings: Landos Biopharma Misses EPS for Q1 2024

Landos Biopharma, Inc. (LABP) has disclosed a new risk, in the Regulation category. Landos Biopharma, Inc. faces significant regulatory hurdles in ...

Landos Biopharma's Latest Deal Faces Tough Regulatory Gauntlet: HSR Act and FTC Scrutiny May Impose Delays and Costs

ADIL

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SWAV

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Legal

Press Releases

Kuehn Law Encourages LABP, WRK, KAMN and TGAN Investors to Contact Law Firm

LANDOS BIOPHARMA INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Landos Biopharma, Inc. - LABP

SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates HRT, FXNC, LABP, KAMN

SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates ADTH, LABP, FUSN

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates FUSN, LABP, DOMA

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates FUSN, LABP, JBT

Stockholder Alert: Ademi LLP continues Investigation of the Fairness of Landos Biopharma, Inc.'s transaction with AbbVie

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Landos Biopharma Stock (NASDAQ:LABP), Short Interest Report

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