Latest news for Sonoro Gold (OTC:SMOFF) Stock

Sonoro Gold Corp is an exploration and development company holding the near development stage Cerro Caliche project and the exploration stage San Marcial properties in Sonora State, Mexico. The company has one business segment, the exploration of mineral properties.

Sonoro Gold Corp

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
SPY&nbsp;(ARCA: SPY) is currently trading around our key level of 547.56. For the bulls, an initial push higher to 548.13 is desirable. Sustained buying above 548.13 could drive the price towards our next resistance at 549.00. If 549.00 holds during regular trading hours, we could see a further rally to 549.67. Our high bull target for SPY today is 550.45.
Should 547.56 fail to hold as support, we expect the bears to test 546.46. Further selling pressure might lead to a drop to 545.24. If heavy selling continues, a stronger support level at 544.04 could be tested. In a severe sell-off, our low bear target for the day is 542.93.
<h3>Invesco QQQ Trust Series 1 </h3>
QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently hovering around our critical level of 463.56. For a bullish outlook, we need to see the price hold above 463.56. If this level is maintained, buyers could push the price to 465.93. Further bullish action might bring 467.60 into focus, with a potential move up to 469.27 if buying pressure remains strong. Our high bull target for QQQ today is 471.33.
If QQQ struggles to stay above 463.56 during trading hours, we anticipate bearish momentum to drive the price down to 462.14. Continued weakness might lead to a drop to 460.55. If sellers dominate, we could see a test of 458.83, with the low bear target for the day set at 457.55.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trading near our level of 220.29. For a bullish scenario, we want this level to act as support. If 220.29 holds, the price could rally to 220.97. Continued bullish strength might push the price up to 221.66. Should the bulls control the session, our high bull target for Apple is 222.24.
If 220.29 fails to provide support, we expect a test of 219.19. Further downside pressure could lead to a drop to 218.08. Persistent selling might drive the price to 216.70. In a bearish scenario, the low bear target for Apple is 215.25.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently around our key level of 409.69. For the bulls, holding above 410.64 is crucial. If the price remains strong above this level, we could see a move to 411.72. Sustained bullish momentum might push the price to 413.14. Our high bull target for Microsoft today is 414.56.
If 409.69 does not hold as support, we expect bears to test 408.46. Continued selling could lead to a drop to 407.11. If downside pressure persists, the price might reach 406.01. Our low bear target for Microsoft today is 404.92.
<h3>NVIDIA Corporation</h3>
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading near our key level of 109.86. For a bullish outlook, we need to see the price push up to 110.73 and establish it as support. If this occurs, we could see a rally to 111.70. Further buying pressure might drive the price to 112.54. Our high bull target for NVIDIA today is 113.68.
If 109.86 fails to hold as support, we anticipate a test of 109.12. Continued selling pressure might lead to a drop to 107.51. If the auction weakens, the price could test 106.30. Our low bear target for NVIDIA is 105.23.
<h3>Alphabet Inc Class A </h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading around 171.14. For the bulls, holding above 171.14 is essential. If this level is maintained, we could see the price rise to 172.28. Continued bullish momentum might drive the price to our high bull target of 174.01.
If 171.14 does not hold as support, we expect the price to drop to 169.34. Further bearish action might lead to a test of 167.04. In a strong sell-off, the price could fall to our low bear target for Alphabet at 165.41.
<h3>Meta Platforms Inc </h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading near 462.20. For a bullish scenario, we need to see the price hold above 464.57. If this level is maintained, the price could rise to 465.81. Further buying pressure might push the price to 468.38. Our high bull target for Meta today is 470.28.
If 462.20 fails to hold as support, we expect a test of 458.59. Continued selling pressure could drive the price to 455.87. If the bears dominate, the price might fall to our low bear target for Meta at 453.45.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading around our key level of 223.98. For a bullish outlook, we want to see the price rise to 226.53. If buying momentum continues, we could see a rally to 228.45. Should the broader market rally, Tesla might test 230.65. Our high bull target for Tesla today is 233.49.
If 223.98 does not hold as support, we expect a test of 222.19. Continued selling could bring the price down to 220.65. If this level is broken, the price might drop to our low bear target for Tesla at 219.39.
Final Word: Today&#39;s trading session is packed with critical economic data that could significantly impact market movements. The day begins with the ADP Non-Farm Employment Change for July, released at 8:15 AM ET. This report often provides insights into the broader labor market trends, making it a crucial indicator for market participants. Shortly after, at 8:30 AM ET, the Q2 Employment Cost Index will be published. This index measures the change in the costs of labor, offering a glimpse into wage inflation, which is a key factor for the Federal Reserve&#39;s monetary policy decisions.
At 10 AM ET, we will get the Pending Home Sales data for June. This report reflects the health of the housing market, an essential component of the economy, and can influence market sentiment. However, the most anticipated event of the day is the FOMC Interest Rate Decision at 2 PM ET. The Federal Reserve is widely expected to keep rates on hold, but the market will be keenly focused on any hints about future monetary policy.
Fed Chair Jerome Powell&#39;s Post-Rate Decision Press Conference at 2:30 PM ET is likely to be a pivotal moment. Investors and traders will scrutinize his comments for clues about the Fed&#39;s outlook on inflation, economic growth, and the potential for future rate hikes or cuts. Powell&#39;s insights will be crucial in shaping expectations for September&#39;s FOMC Rate Decision, making his statements highly influential for market direction.
Given the range of significant data releases and the Fed&#39;s guidance, today is likely to be the most volatile and challenging trading session of the month. The interplay between labor market data, housing market indicators, and the Federal Reserve&#39;s stance on monetary policy will create a dynamic environment. Traders should be prepared for rapid price movements and adjust their strategies accordingly. It&rsquo;s essential to stay vigilant, manage risks carefully, and be ready to act on any market-moving information. Good luck, keep your head on a swivel, and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

AAPL

GOOGL

MSFT

NVDA

TSLA

Market Clubhouse Morning Memo - July 31st, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

WIIM

CDW shares are trading lower after the company reported worse-than-expected Q2 financial results.

Dick's Sporting Goods's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) short percent of float has risen 6.5% since its last report. The company recently reported that it has 5.51 million shares sold short, which is 13.43% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.67 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Dick's Sporting Goods Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722435321_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Dick's Sporting Goods has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Dick's Sporting Goods's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Dick's Sporting Goods's peer group average for short interest as a percentage of float is 12.96%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Peering Into Dick's Sporting Goods's Recent Short Interest

BMO Capital analyst John Gibson reiterates Trican Well Service (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TCW#TSX">TCW</a>) with a Outperform and raises the price target from C$5.5 to C$6.

News

Price Target

Reiteration

Analyst Ratings

TSX:TCW

BMO Capital Reiterates Outperform on Trican Well Service, Raises Price Target to C$6

Matador Resources's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) short percent of float has fallen 30.8% since its last report. The company recently reported that it has 7.51 million shares sold short, which is 7.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.07 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Matador Resources Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722435316_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Matador Resources has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Matador Resources's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Matador Resources's peer group average for short interest as a percentage of float is 6.18%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

MTDR

Peering Into Matador Resources's Recent Short Interest

Robinhood Markets's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NYSE">HOOD</a>) short percent of float has fallen 11.52% since its last report. The company recently reported that it has 30.36 million shares sold short, which is 4.3% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.62 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Robinhood Markets Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722435311_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Robinhood Markets has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Robinhood Markets's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Robinhood Markets's peer group average for short interest as a percentage of float is 5.57%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

HOOD

Looking Into Robinhood Markets's Recent Short Interest

AI has been widely touted as the way of the future. Major tech firms are investing billions in developing AI, while some scientists working on it have signed an open letter warning of its dangers.&nbsp;
On the other hand, the average American is left worrying if <a href="https://www.benzinga.com/news/24/07/39588592/billionaire-investor-ken-griffin-contradicts-elon-musk-says-not-convinced-ai-will-replace-human-jobs">AI will replace their job</a>. Most people are far more worried about losing a job than AI becoming a monster that could put any Sci-Fi movie to shame.
Don't Miss:
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<li>America's construction sites are desperate for Robots —<a href="https://www.benzinga.com/money/apis-cor"> here&#8217;s how to invest in a house-printing startup who&#8217;s making them and be a part of a $16 trillion industry</a>.</li>
<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
</ul>
In a recent episode of NPR&#8217;s The Indicator from Planet Money, hosts asked the same question: Is AI all it&#8217;s cracked up to be? And is it actually after your job?
First, the logical arguments. Host Greg Wrozowski makes the same arguments many of us tell ourselves:
<ol>
<li>AI isn&#8217;t truly intelligent. Instead, it&#8217;s a sophisticated way of aggregating internet content rather than genuine intelligence. It can&#8217;t replace human creativity and true reasoning (although with basic mathematical functions, in particular, <a href="https://www.benzinga.com/general/23/11/35775521/artificial-intelligence-in-stock-trading-how-ai-is-revolutionizing-investment-strategies">AI can come close</a>).</li>
<li>More alarmingly, AI often produces false information. The industry calls these errors &#8220;hallucinations,&#8221; But they occur in 3-27% of responses. </li>
<li>And most importantly, AI is incapable of replacing most human jobs. For example, attempts at automating drive-thru orders failed miserably.</li>
</ol>
See Also: Don&#8217;t miss out on the next Nvidia &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> you can invest in the future of AI for only $10.</a>
Experts concur, with MIT economist Daron Acemoglu, one of the leading economic scholars of technology, stating that AI&#8217;s impact on the economy in the next decade will be limited.
When asked if we should expect AI to usher in revolutionary changes for the economy in the next decade, he replied, &#8220;No. No, definitely not. I mean, unless you count a lot of companies over-investing in generative AI and then regretting it as a revolutionary change.&#8221;
Experts like Acemoglu aren&#8217;t afraid to mince words, calling AI a glorified photocopier passing human work as its own or a copycat. In addition, in many cases, AI is copying or reformulating copyrighted material. At least 15 high-profile lawsuits against AI companies asserting copyright infringement have been filed.&nbsp;
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
What about jobs? According to Acemoglu, AI will affect less than 5% of human tasks in the economy. Other experts suggest that AI could help automate the most tedious tasks in most industries rather than replace humans entirely. And we can expect AI to barely touch many sectors, like construction and food service.
So your job is safe for now, but should you invest in AI? That discussion is more murky. AI may not significantly boost productivity or economic growth in the near future.
Whether AI will improve exponentially depends on the infrastructure costs to keep up with data needs. If not, developers could experience substantial slowdowns due to data limitations and cost restrictions. On the other hand, AI might still develop in unexpected ways that lead to exponential growth and significant gains in as little as a few years.&nbsp;
Is AI a hidden gem? It could be, eventually. But for now, don&#8217;t underestimate human capabilities and our own ability to learn and adapt before assuming computers have it all figured out.
Read Next:
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<li>Here&#8217;s the AI-powered startup that turns traders into influencers achieving 12% monthly growth –<a href="https://www.benzinga.com/money/xtrades"> invest in it at only 10 cents per share.</a></li>
<li>Don&#8217;t miss the real AI boom &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> here&#8217;s how to use just $10 to invest in high growth private tech companies.</a></li>
</ul>

Startups

AI: Hype Machine or Hidden Gem? The Great Tech Debate And What It Means For Your Wallet

RBC Capital analyst Ashish Sabadra reiterates Ecolab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) with a Outperform and maintains $260 price target.

RBC Capital Reiterates Outperform on Ecolab, Maintains $260 Price Target

BMO Capital analyst Jeffrey Silber maintains S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) with a Outperform and raises the price target from $532 to $537.

SPGI

BMO Capital Maintains Outperform on S&P Global, Raises Price Target to $537

BMO Capital analyst Jeremy Mccrea maintains Surge Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SGY#TSX">SGY</a>) with a Outperform and raises the price target from C$10 to C$11.

TSX:SGY

BMO Capital Maintains Outperform on Surge Energy, Raises Price Target to C$11

VCNX

Vaccinex Shares Resume Trade

RBC Capital analyst Brad Heffern maintains Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) with a Outperform and raises the price target from $74 to $75.

RBC Capital Maintains Outperform on Equity Residential, Raises Price Target to $75

BMO Capital analyst John Gibson reiterates Secure Energy Services (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SES#TSX">SES</a>) with a Outperform and raises the price target from C$14 to C$16.

TSX:SES

BMO Capital Reiterates Outperform on Secure Energy Services, Raises Price Target to C$16

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General

Here's How You Can Get Up to $9,000 in Free Stocks Today

RBC Capital analyst Chris Dendrinos reiterates First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Outperform and maintains $315 price target.

FSLR

RBC Capital Reiterates Outperform on First Solar, Maintains $315 Price Target

BMO Capital analyst Rufus Hone maintains PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) with a Market Perform and raises the price target from $65 to $72.

PYPL

BMO Capital Maintains Market Perform on PayPal Holdings, Raises Price Target to $72

RBC Capital analyst Deane Dray maintains Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) with a Sector Perform and raises the price target from $50 to $52.

RBC Capital Maintains Sector Perform on Flowserve, Raises Price Target to $52

Former President Donald Trump secured $25 million in fundraising during his appearance at the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39985014/87-of-bitcoin-conference-speakers-are-men-why-are-there-so-few-women">Conference in Nashville</a>, making it his second-highest fundraiser across his three presidential campaigns.
What Happened: This substantial amount was raised through a combination of contributions from industry leaders and prominent cryptocurrency figures, <a href="https://x.com/DavidFBailey/status/1818352001073500468">according</a> to David Bailey, the event&#8217;s organizer.
The high-profile event, which required attendees to pay $844,600 for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39889133/trump-fundraiser-at-bitcoin-conference-reaches-845k-asking-price-per-seat">roundtable discussion with Trump</a> and $60,000 for a photo opportunity, drew approximately 100 individuals. 
Notable figures in attendance included Gemini co-founders Tyler and Cameron Winklevoss, American singer-songwriter Kid Rock, professional boxer Jake Paul and singer and actor Billy Ray Cyrus.
Trump&#8217;s appearance at the conference was marked by bold promises to reform the U.S. regulatory landscape, a message that resonated strongly with the crypto-friendly audience. 
He pledged to establish a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40038223/donald-trumps-overtures-mean-the-bitcoin-price-may-be-tied-to-the-outcome-of-2024-election">strategic Bitcoin reserve</a> and announced his intention to <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40018935/trumps-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler">fire SEC Chair Gary Gensler</a>, known for his critical stance on cryptocurrencies.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40033967/bitcoin-drops-below-67-000-what-is-going-on-with-bitcoin-ethereum-etfs">Bitcoin Drops Below $67,000: What Is Going On With Bitcoin, Ethereum ETFs?</a>
Why It Matters: The Bitcoin Conference, which aimed to raise between $30 and $50 million with a stretch goal of $100 million by November, served a dual purpose of fundraising and bringing together influential figures from both the crypto industry and politics.
Interestingly, Trump&#8217;s rival and independent presidential candidate Robert F. Kennedy Jr. also garnered attention at the conference, announcing plans to integrate Bitcoin into the U.S. economy. 
Kennedy, who was the first candidate to accept crypto donations in May 2023, promised to push for government Bitcoin purchases to match the nation&#8217;s gold reserves. 
However, there is no evidence that Kennedy secured any crypto funding during the event.
What&#8217;s Next: As digital assets continue to gain mainstream attention, events like Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> on November 19 become increasingly crucial.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40018603/elon-musk-has-a-soft-spot-for-dogecoin-warns-followers-if-you-see-me-pumping-crypto-its-no">Elon Musk Has &#8216;A Soft Spot For Dogecoin,&#8217; Warns Followers: &#8216;If You See Me Pumping Crypto, It&#8217;s Not Me&#8217;</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

Trump Raises $25M At Bitcoin Conference In Nashville, Second Highest Fundraiser Across Campaigns

BMO Capital analyst John Gibson maintains Precision Drilling (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PD#TSX">PD</a>) with a Outperform and raises the price target from C$135 to C$140.

TSX:PD

BMO Capital Maintains Outperform on Precision Drilling, Raises Price Target to C$140

Renowned election forecaster Allan Lichtman, known for his accurate presidential election predictions, has made his early forecast for the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election outcome.</a>
What Happened: With President Joe Biden <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">dropping out of the 2024 election,</a> attention has turned to the head-to-head matchup between former President Donald Trump and current Vice President Kamala Harris.
Most<a href="https://www.benzinga.com/topic/election-poll"> election polls</a> show a close race between the two candidates, with Harris gaining some support lost by Biden since the first 2024 presidential debate.
Using his &#8220;13 Keys to the White House,&#8221; Lichtman has made his early prediction on who will win the 2024 presidential election, as <a href="https://nypost.com/2024/07/29/us-news/historian-who-predicted-almost-every-election-since-1984-gives-take-on-trump-harris-matchup/">reported </a>by the New York Post.
These are the 13 keys that make up the prediction:
<ul>
<li>Party mandate</li>
<li>Contest</li>
<li>Incumbency</li>
<li>Third party</li>
<li>Short-term economy</li>
<li>Long-term economy</li>
<li>Policy change</li>
<li>Social unrest</li>
<li>Scandal</li>
<li>Foreign/military failure</li>
<li>Foreign/military success</li>
<li>Incumbent charisma</li>
</ul>
Based on the 13 keys, which are turned into true and false questions, a candidate gains a key if they meet the criteria better than their opponent. Winning six or more keys predicts the candidate as the likely winner.
Lichtman currently favors Harris to win the 2024 presidential election. The Democratic Party holds six of the 13 keys according to Lichtman's latest prediction. The Republican Party holds three keys in the forecast, with two of them related to the current incumbent (Biden) not seeking re-election and lacking charisma.
Four of the keys have not been handed out to a winner, with a winner still needed in the third-party factor, no social unrest, foreign military failure and foreign military success.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073024">With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: A final prediction has not been made and will come after the Democratic National Convention in August, where an official nominee for the Democratic Party is named.
While there are four more keys to hand out, Lichtman told News Nation that "a lot would have to go wrong for Harris to lose" his 2024 election prediction. &nbsp;
Lichtman established the 13 keys system in 1981 and has used it to make a prediction on each presidential election since 1984.
Lichtman has <a href="https://www.usatoday.com/story/news/politics/elections/2024/05/08/allan-lichtman-2024-prediction-election-biden-trump/73611104007/">correctly </a>predicted the outcome of nine of the last 10 presidential elections. This includes correctly predicting Trump winning in 2016 and Biden winning in 2020.
Lichtman's only miss was in 2000 when he predicted Al Gore would defeat George W. Bush. Gore won the popular vote in the election, but lost the electoral college.
The election predictor stated in 2016 that his book and paper referred to the popular vote, which would make his 2000 prediction correct, but the 2016 prediction of Donald Trump wrong as Hillary Clinton won the popular vote. Whether the prediction is for the popular vote winner or electoral college winner, the success rate of 90% stays the same over the last 10 elections. 
The 2024 presidential election is less than four months away and barring a change to Lichtman's prediction after the DNC, Harris could be viewed as a favorite to win the election, at least based on the past success of the election predictor.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. Get Tips On What They Bought And Sold Ahead Of The 2024 Election <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073024">With Our Easy-to-Use Tool</a><a href="https://www.benzinga.com/gov-trades"> </a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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