Latest news for  (OTC:RNBAS) Stock

Wells Fargo analyst Brandon Couillard initiates coverage on Thermo Fisher Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) with a Overweight rating and announces Price Target of $670.

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Analyst Ratings

Wells Fargo Initiates Coverage On Thermo Fisher Scientific with Overweight Rating, Announces Price Target of $670

Wells Fargo analyst Brandon Couillard initiates coverage on Myriad Genetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) with a Overweight rating and announces Price Target of $35.

MYGN

Wells Fargo Initiates Coverage On Myriad Genetics with Overweight Rating, Announces Price Target of $35

Wells Fargo analyst Brandon Couillard initiates coverage on Exact Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) with a Overweight rating and announces Price Target of $75.

EXAS

Wells Fargo Initiates Coverage On Exact Sciences with Overweight Rating, Announces Price Target of $75

Wells Fargo analyst Brandon Couillard initiates coverage on Avantor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) with a Overweight rating and announces Price Target of $30.

AVTR

Wells Fargo Initiates Coverage On Avantor with Overweight Rating, Announces Price Target of $30

Wells Fargo analyst Brandon Couillard initiates coverage on Bruker (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) with a Overweight rating and announces Price Target of $78.

BRKR

Wells Fargo Initiates Coverage On Bruker with Overweight Rating, Announces Price Target of $78

Wells Fargo analyst Brandon Couillard initiates coverage on Repligen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGEN#NASDAQ">RGEN</a>) with a Overweight rating and announces Price Target of $180.

RGEN

Wells Fargo Initiates Coverage On Repligen with Overweight Rating, Announces Price Target of $180

Wells Fargo analyst Brandon Couillard initiates coverage on Maravai LifeSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVI#NASDAQ">MRVI</a>) with a Overweight rating and announces Price Target of $10.

MRVI

Wells Fargo Initiates Coverage On Maravai LifeSciences with Overweight Rating, Announces Price Target of $10

Wells Fargo analyst Brandon Couillard initiates coverage on Mesa Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLAB#NASDAQ">MLAB</a>) with a Underweight rating and announces Price Target of $120.

MLAB

Wells Fargo Initiates Coverage On Mesa Laboratories with Underweight Rating, Announces Price Target of $120

Editor&#8217;s Note: A key point in this article has been updated to reflect accurate information on GameStop&#8217;s peak May 14 share price.
GameStop Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) second <a href="https://www.benzinga.com/news/24/05/38801786/gamestop-trader-roaring-kitty-sparks-wall-street-rally-in-heavily-shorted-stocks-what-you-need-to-kn">meme stock surge</a> this spring hasn't attracted the swarm of retail investors that made the company famous in 2021, according to trade data released Monday by the Securities and Exchange Commission.
Retail participation in GameStop was roughly half what it was during the original frenzy in January 2021, judging by odd lot volume as a percentage of all volume during the May rally, according to the SEC trade data released on Tuesday, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-08-27/gamestop-s-may-meme-revival-saw-dropoff-in-retail-participation?srnd=homepage-americas&amp;embedded-checkout=true&amp;sref=TBDibEcD">reported</a>.
 Odd lots, or trades of less than 100 shares, can serve as a rough proxy for retail participation since individual investors typically trade smaller quantities, while institutional investors tend to trade in round lots, which are orders divisible by 100.
GameStop shares surged in May, rising from $10.91 on May 1 to a high of $64.83 on May 14, after &#8220;Roaring Kitty,&#8221; also known as Keith Gill—the social media persona credited with sparking the 2021 meme stock trading frenzy—posted about GameStop on X <a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock">following a three-year hiatus.</a>
Read Also: <a href="https://www.benzinga.com/news/24/05/38789404/gamestops-rally-resumes-in-may-what-sparked-the-interest">GameStop&#8217;s Rally Resumes In May &#8211; What Sparked The Interest?</a>
In the May 14 post, Gill shared a drawing depicting a man leaning forward in a chair, a widely recognized meme among gamers signaling heightened intensity or seriousness.
GameStop shares went as high as $120.75 in January 2021 after Gill's Reddit posts in the&nbsp;Wallstreetbets group boasted about his profits from investing in GameStop.
The rally had spread to highly shorted stocks, including&nbsp;AMC Entertainment Holdings&nbsp;Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) as Reddit users joined forces to squeeze hedge funds who bet against GameStop and other companies.
Roaring Kitty sparked a frenzy among day traders, who rallied to invest heavily in GameStop stocks and call options from 2020 to 2021.&nbsp;
This collective action caused a short squeeze, resulting in GameStop shares skyrocketing by 1,700% during the 2021 price surge.
Price Action: GameStop declined 2.90% to close at $20.74 on Tuesday.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/05/39043258/gamestop-rally-returns-after-share-offering-how-will-company-use-1-billion-in-proceeds">GameStop Rally Returns After Share Offering: How Will Company Use $1 Billion In Proceeds?</a></li>
</ul>
Photo: Shutterstock

GameStop's Second Meme Surge Fails To Draw 2021's Retail Investor Crowd, SEC Data Shows (CORRECTED)

Wells Fargo analyst Brandon Couillard initiates coverage on CareDx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) with a Underweight rating and announces Price Target of $28.

CDNA

Wells Fargo Initiates Coverage On CareDx with Underweight Rating, Announces Price Target of $28

Wells Fargo analyst Brandon Couillard initiates coverage on Bio-Rad Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIO#NYSE">BIO</a>) with a Equal-Weight rating and announces Price Target of $340.

Wells Fargo Initiates Coverage On Bio-Rad Laboratories with Equal-Weight Rating, Announces Price Target of $340

Wells Fargo analyst Brandon Couillard initiates coverage on GeneDx Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>) with a Equal-Weight rating and announces Price Target of $34.

Wells Fargo Initiates Coverage On GeneDx Hldgs with Equal-Weight Rating, Announces Price Target of $34

Wells Fargo analyst Brandon Couillard initiates coverage on Revvity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) with a Equal-Weight rating and announces Price Target of $130.

RVTY

Wells Fargo Initiates Coverage On Revvity with Equal-Weight Rating, Announces Price Target of $130

Wells Fargo analyst Brandon Couillard initiates coverage on Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) with a Equal-Weight rating and announces Price Target of $280.

Wells Fargo Initiates Coverage On Danaher with Equal-Weight Rating, Announces Price Target of $280

The Company has been provided until October 7, 2024, to submit a plan to regain compliance with the minimum stockholders&#39; equity standard.&nbsp;

Versus Systems Receives Letter From Listing Qualifications Department Staff Of Nasdaq Regarding Minimum Stockholders' Equity Deficiency

Keefe, Bruyette &amp; Woods analyst Timothy Switzer initiates coverage on VersaBank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBNK#NASDAQ">VBNK</a>) with a Outperform rating.

VBNK

Keefe, Bruyette & Woods Initiates Coverage On VersaBank with Outperform Rating

A decommissioned nuclear power plant in Michigan is being brought back to life.
Pushed by a growing need for carbon-free energy, the Palisades nuclear power plant will be the first in the U.S. to be recommissioned after shutting down.
The Palisades plant was built in the late 1960s and began running in 1973. It was purchased in 2006 by Louisiana-based electricity producer Entergy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>), which ran it until 2022.
Although the plant had a license extension that allowed it to be active until 2031, Entergy chose to shut it down, citing the high costs associated with running a nuclear power plant.
The plant was sold to nuclear equipment provider Holtec International, which was in charge of taking the plant out of commission.
In 2022, Holtec announced plans to re-open the facility, something that has never been done before in the U.S.
This year, the U.S. Department of Energy announced a commitment of $1.52 billion in loans to finance the restoration and resumption of service of the plant in the hands of Holtec.
According to a WSJ <a href="https://www.wsj.com/business/energy-oil/biden-nuclear-power-plant-loan-michigan-eee64904?mod=hp_lead_pos7">report</a>, the company is now working on restoring the facility to modern-day standards. The plant will be back online by October 2025, according to the company's plans.
<h3 class="wp-block-heading">Nuclear Gets Revamped&nbsp;</h3>
A growing need for electricity is behind the renewed interest in nuclear energy.
In a recent interview with Elon Musk, former President Donald Trump <a href="https://www.benzinga.com/news/24/08/40329545/trump-left-shocked-by-power-hungry-ai-tells-elon-musk-requires-twice-the-energy-that-the-country-alr">expressed shock at the amount of electricity required</a> to fuel artificial intelligence systems.
The AI revolution is<a href="https://www.benzinga.com/markets/equities/24/06/39489296/as-the-ai-race-rages-on-depletion-of-energy-and-water-resources-poses-a-new-threat"> doubling demand for data center power</a> and will eventually consume <a href="https://www.benzinga.com/markets/asia/24/04/38163078/ai-could-consume-25-of-us-power-by-2030-the-more-information-they-gather-the-more-power-it-takes-war">25% of all U.S. power </a>by 2030, according to Arm Holdings PLC &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) CEO Rene Haas.
<a href="https://www.goldmansachs.com/insights/articles/AI-poised-to-drive-160-increase-in-power-demand">According</a> to Goldman Sachs, data centers will use 8% of U.S. power by 2030, up from 3% in 2022.
Former Microsoft CEO Bill Gates recently said to <a href="https://www.benzinga.com/news/24/06/39543587/bill-gates-dismisses-concerns-that-big-techs-investment-in-power-hungry-ai-says-it-will-ultimately-o">"not go overboard" with panic over energy-hungry AI systems</a>, as investment from Big Tech companies into clean energy might help boost the shift toward green energy production.
Read Also: <a href="https://www.benzinga.com//node/40409572">Nvidia AI Dominance Challenged By Asian Startups Betting On Energy-Efficient And Cost-Effective Silicon — &#8216;Inference&#8217; And &#8216;Training&#8217; Chips Emerge As Key Focus</a>
The Biden administration has placed a high bet on the ability of nuclear power to free the country from its dependency on fossil fuels to produce energy.&nbsp;
Fossil fuels account for 60% of U.S. electricity production, according to the Energy information Administration.
The Biden White House has set the goal of having a zero-emission power grid by 2035 and has included several tax credits and other incentives for nuclear within the <a href="https://www.benzinga.com/topic/inflation-reduction-act">Inflation Reduction Act of 2022</a>.
The government recently set-up <a href="https://www.benzinga.com/government/24/06/39553699/us-to-invest-2-7b-in-domestic-uranium-cutting-reliance-on-russia">a $2.7-billion investment in U.S.-made uranium</a> to decrease dependency on Russian imports.
Interest in nuclear power dropped as fracking practices opened the floodgates for cheap natural gas, which lowered the cost of burning gas to produce electricity.
Isolated nuclear plant accidents helped strengthen public rejection of the technology. These include the meltdown of the Three Mile Island reactor in 1979, the Chernobyl disaster in 1986 in Ukraine and the Fukushima accident in Japan in 2011.
High construction costs and continuing concerns regarding the storage of nuclear waste continued to weigh against the development of new nuclear energy projects in recent decades.
<h3 class="wp-block-heading">New Projects Come Online</h3>
The nuclear sector might be getting a new push. A Pew Research Center <a href="https://www.pewresearch.org/short-reads/2024/08/05/majority-of-americans-support-more-nuclear-power-in-the-country/">survey</a> from May of this year found that support for nuclear power in the U.S. has grown consistently throughout the last 10 years. 
Today, 56% of U.S. adults support the development of nuclear energy projects.
The U.S. has 94 active nuclear reactors, down from a peak of 111 in the late 1990s. These exist in 54 nuclear power plants in 28 states.
The two newest reactors launched commercial operations in 2023 and 2024 at the Alvin W. Vogtle Electric Generating Plant in Georgia. They're operated by Southern Nuclear, a subsidiary of Southern Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>).
The two reactors cost $35 billion to build, <a href="https://www.eenews.net/articles/after-vogtle-whats-next-for-nuclear/">according</a> to E&amp;E News.
Some companies working on advanced reactor designs are looking to obtain licenses from the Nuclear Regulatory Commission to build new reactors.
Nuscale Power Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>), a company developing small modular reactors, canceled its project to build a six-reactor, 462-megawatt plant in Utah in 2023 after several municipalities pulled out due to high construction costs, Reuters reported.
The company is expecting to deploy two dozen small modular reactors for plants in Ohio and Pennsylvania, per E&amp;E News.
Other companies are developing new projects that still need demonstrations to become mainstream technology.
Kairos Power is developing a test reactor in Oak Ridge, Tennessee to test its fluoride salt-cooled, high temperature reactor technology. The company has received a $303-million pledge from the Department of Energy to complete this project.
Earlier this month, TerraPower, a company founded by Bill Gates, <a href="https://www.benzinga.com/news/24/06/39263769/bill-gates-terrapower-ventures-into-advanced-nuclear-plant-construction-aiming-to-combat-climate-cri">started building its first advanced reactor in Wyoming</a>, which, like Kairos', doesn't use water for cooling.
ETFs To Watch
<ul>
<li>The VanEck Uranium and Nuclear Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLR#NYSE">NLR</a>) which follows the nuclear power sector, gained 0.21% Tuesday and is up 2.4% in the last five trading days.</li>
</ul>
<ul>
<li>Global X Uranium ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URA#NYSE">URA</a>), following the global uranium market, is up 4.3% in the last five trading days.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39755062/nano-nuclears-18m-upsized-offering-eyes-funding-for-advanced-micro-nuclear-reactor-designs">Nano Nuclear&#8217;s $18M Upsized Offering: Eyes Funding for Advanced Micro Nuclear Reactor Designs</a></li>
</ul>
Palisades Nuclear Plant photo via Nuclear Regulatory Commission.

Markets

General

Power-Hungry AI Revives Interest In Nuclear Energy: Michigan To Reopen Closed Plant For First Time In History

Wells Fargo analyst Brandon Couillard initiates coverage on Mettler-Toledo Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>) with a Equal-Weight rating and announces Price Target of $1400.

Wells Fargo Initiates Coverage On Mettler-Toledo Intl with Equal-Weight Rating, Announces Price Target of $1400

Roth MKM analyst Benjamin Paluch initiates coverage on Genelux (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLX#NASDAQ">GNLX</a>) with a Buy rating and announces Price Target of $10.

GNLX

Roth MKM Initiates Coverage On Genelux with Buy Rating, Announces Price Target of $10

The company expects Adjusted EBITDA for H2 2024 to exceed that of H1 2024, both in absolute value and margin, and continues to expect to achieve a mid-teens Adjusted EBITDA Margin for the full year.

Guidance

WALD

Waldencast Expects To Further Accelerate H2 2024 Net Revenue Comparable Growth Above The Rate Achieved In Q2 2024

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