Latest news for TLGY Acquisition (NASDAQ:TLGY) Stock

TLGY Acquisition Corp is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

TLGY Acquisition Corporation - Class A Ordinary Share

TLGY Acquisition Corp

WIIM

Aon shares are trading higher after Keefe, Bruyette & Woods upgraded the stock from Underperform to Outperform and raised its price target on the stock from $313 to $380.

Goldman Sachs shares are trading higher after Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $513 to $561.

CNSP

CNS Pharmaceuticals shares are trading lower, pulling back after earlier rising on a license agreement with Cortice Biosciences.

Macro Economic Events

Economics

Oil is trading lower amid reports of concerns over China demand.

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David Solomon in an interview with CNBC at the Summer Olympics in Paris hinted at Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) potential to serve as a "<a href="https://www.benzinga.com/markets/cryptocurrency/21/07/21960463/bitcoin-as-a-store-of-value-is-an-open-question-says-millionaire-star-bill-miller">store of value case</a>."
What Happened: Solomon, while reluctant to speculate on Bitcoin&#8217;s price, acknowledged the "super interesting" technology underlying cryptocurrencies, as <a href="https://www.theblock.co/post/308314/goldman-sachs-ceo-david-solomon-says-bitcoin-could-be-a-store-of-value-case?utm_source=rss&amp;utm_medium=rss">reported</a> by TheBlock. He noted the potential of this technology to streamline the financial system in an increasingly digital world.
When asked if Bitcoin could serve as a reserve like gold, Solomon responded, "There very well could be a store of value case."
In 2021, Solomon predicted that Bitcoin was on a path to match and eventually surpass gold&#8217;s market capitalization. This was the same year Goldman Sachs launched its crypto desk.
Despite Solomon&#8217;s cautious comments, Goldman Sachs has been actively investing in the digital asset space. The bank has also seen growing interest from hedge fund clients in crypto-related products.
<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/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40036443/real-bitcoin-bull-market-is-yet-to-commence-violent-up-only-price-action-will-mirror-previ">&#8216;Real&#8217; Bitcoin Bull Market Is Yet To Commence: &#8216;Violent Up-Only Price Action&#8217; Will Mirror Previous Cycles, Touts Trader</a>
Why It Matters: Goldman Sachs&#8217; interest in the digital asset space is not new. The bank is set to initiate three tokenization projects by the end of 2024, aiming to transform how clients invest in financial assets. This move will tokenize assets like money market funds and real estate holdings, utilizing both public and private blockchains.
These projects will include tokenizing U.S. fund complexes and debt issuance in Europe, with further details pending.
Earlier this year, Goldman Sachs was among the firms that completed a series of tests on the Canton Network, a network designed for institutional assets.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40041892/trump-trade-is-long-bitcoin-long-small-caps-says-trader-but-what-is-the-kamala-trade">&#8216;Trump Trade&#8217; Is &#8216;Long Bitcoin, Long Small Caps,&#8217; Says Trader&#8230;But What Is The &#8216;Kamala Trade&#8217;?</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

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

Cryptocurrency

News

$BTC

Bitcoin As Store Of Value? Goldman Sachs CEO David Solomon Sees Such A Case

Investors with a lot of money to spend have taken a bearish stance on Pure Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PSTG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 19 options trades for Pure Storage.
This isn't normal.
The overall sentiment of these big-money traders is split between 0% bullish and 84%, bearish.
Out of all of the options we uncovered, 18 are puts, for a total amount of $1,996,722, and there was 1 call, for a total amount of $34,976.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $75.0 for Pure Storage, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Pure Storage's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Pure Storage's significant trades, within a strike price range of $55.0 to $75.0, over the past month.
<h3>Pure Storage Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722366980_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PSTG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.5</td>
<td>$4.2</td>
<td>$4.5</td>
<td>$55.00</td>
<td>$427.9K</td>
<td style="text-align: right;">745</td>
<td>4.0K</td>
</tr>
<tr>
<td>PSTG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.0</td>
<td>$3.9</td>
<td>$4.0</td>
<td>$55.00</td>
<td>$353.2K</td>
<td style="text-align: right;">745</td>
<td>912</td>
</tr>
<tr>
<td>PSTG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.2</td>
<td>$4.0</td>
<td>$4.2</td>
<td>$55.00</td>
<td>$304.9K</td>
<td style="text-align: right;">745</td>
<td>2.0K</td>
</tr>
<tr>
<td>PSTG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.3</td>
<td>$4.1</td>
<td>$4.3</td>
<td>$55.00</td>
<td>$187.9K</td>
<td style="text-align: right;">745</td>
<td>2.0K</td>
</tr>
<tr>
<td>PSTG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.3</td>
<td>$4.1</td>
<td>$4.3</td>
<td>$55.00</td>
<td>$122.9K</td>
<td style="text-align: right;">745</td>
<td>2.7K</td>
</tr>
</tbody>
</table>

<h3>About Pure Storage</h3>
Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue which includes the sale of integrated storage hardware and embedded operating system software and; subscription services revenue which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, and Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.
After a thorough review of the options trading surrounding Pure Storage, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Pure Storage Standing Right Now?</h3>
<ul>
<li>With a volume of 1,912,879, the price of PSTG is down -3.83% at $55.97. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 29 days.</li>
</ul>
<h3>What Analysts Are Saying About Pure Storage</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $47.0.
<ul>
<li>An analyst from UBS has revised its rating downward to Sell, adjusting the price target to $47. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Pure Storage with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

PSTG

Pure Storage Unusual Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Affirm Holdings.
Looking at options history for Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $112,446 and 10, calls, for a total amount of $552,635.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $30.0 for Affirm Holdings over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Affirm Holdings's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Affirm Holdings's whale activity within a strike price range from $20.0 to $30.0 in the last 30 days. 
<h3>Affirm Holdings Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722366974_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$2.61</td>
<td>$2.52</td>
<td>$2.6</td>
<td>$30.00</td>
<td>$168.0K</td>
<td>3.1K</td>
<td>925</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$9.2</td>
<td>$9.1</td>
<td>$9.2</td>
<td>$20.00</td>
<td>$91.9K</td>
<td>45</td>
<td>201</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$5.95</td>
<td>$5.0</td>
<td>$5.25</td>
<td>$25.00</td>
<td>$74.0K</td>
<td>1.1K</td>
<td>141</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$7.1</td>
<td>$7.05</td>
<td>$7.05</td>
<td>$27.50</td>
<td>$42.3K</td>
<td>113</td>
<td>60</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/09/24</td>
<td>$1.5</td>
<td>$1.49</td>
<td>$1.5</td>
<td>$28.00</td>
<td>$41.8K</td>
<td>777</td>
<td>1.1K</td>
</tr>
</tbody>
</table>

<h3>About Affirm Holdings</h3>
Affirm Holdings Inc offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. The firm generates its revenue from merchant networks, and through virtual card networks among others. Geographically, it generates a majority share of its revenue from the United States.
After a thorough review of the options trading surrounding Affirm Holdings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Affirm Holdings</h3>
<ul>
<li>Currently trading with a volume of 6,313,368, the AFRM's price is up by 2.22%, now at $27.43. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 23 days.</li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Affirm Holdings, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

AFRM

Market Whales and Their Recent Bets on AFRM Options

Whales with a lot of money to spend have taken a noticeably bearish stance on Snowflake.
Looking at options history for Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) we detected 40 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 23 are puts, for a total amount of $1,230,412 and 17, calls, for a total amount of $985,135.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $200.0 for Snowflake over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Snowflake options trades today is 566.83 with a total volume of 5,015.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snowflake's big money trades within a strike price range of $80.0 to $200.0 over the last 30 days.
<h3>Snowflake Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722366969_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$45.9</td>
<td>$45.15</td>
<td>$45.15</td>
<td>$170.00</td>
<td>$171.5K</td>
<td>1.6K</td>
<td style="text-align: right;">164</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$18.8</td>
<td>$18.65</td>
<td>$18.65</td>
<td>$130.00</td>
<td>$149.2K</td>
<td>1.1K</td>
<td style="text-align: right;">81</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$11.45</td>
<td>$11.4</td>
<td>$11.45</td>
<td>$105.00</td>
<td>$133.9K</td>
<td>221</td>
<td style="text-align: right;">131</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$41.95</td>
<td>$40.95</td>
<td>$41.45</td>
<td>$90.00</td>
<td>$103.6K</td>
<td>1</td>
<td style="text-align: right;">25</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$11.25</td>
<td>$11.15</td>
<td>$11.15</td>
<td>$130.00</td>
<td>$97.0K</td>
<td>1.7K</td>
<td style="text-align: right;">374</td>
</tr>
</tbody>
</table>

<h3>About Snowflake</h3>
Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.
In light of the recent options history for Snowflake, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Snowflake's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 2,310,894, the SNOW's price is down by -0.98%, now at $128.3. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 22 days.</li>
</ul>
<h3>Professional Analyst Ratings for Snowflake</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $198.33333333333334.
<ul>
<li>An analyst from Goldman Sachs has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $220. </li>
<li>An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $210. </li>
<li>Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Snowflake with a target price of $165. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snowflake with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

SNOW

What the Options Market Tells Us About Snowflake

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares are trading lower Tuesday amid a broader market pullback. Here&#8217;s <a href="https://www.benzinga.com/trading-ideas/24/07/40044482/market-clubhouse-morning-memo-july-30th-2024-trade-strategy-for-spy-qqq-aapl-msft-nvda-googl-meta-a">what you need to know.</a>
What To Know: Investors brace for a week of big tech earnings reports, which are expected to provide insights into corporate spending on AI buildouts.
The broader tech sector is also under scrutiny, with AMD Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)&nbsp; imminent earnings report expected to offer a clearer picture of the chip market. Analysts are anticipating <a href="https://www.benzinga.com/news/earnings/24/07/40044716/whats-going-on-with-amd-stock-tuesday">AMD to report earnings </a>per share (EPS) of 658 cents for the second quarter, up from 58 cents in the same period last year and revenue of $5.724 billion.
In addition to NVIDIA, other chip-related stocks such as Amkor Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) and Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) are also trading lower. Lattice Semiconductor shares are trading lower after the company reported worse-than-expected second-quarter financial results. Similarly, Amkor Technology shares are trading lower following its release of roughly in-line guidance.
NVDA Price Action: NVIDIA shares were down by 6% at $104.85 according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro.</a>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1002" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30130928/NVDA.png" alt="" class="wp-image-465573" style="width:496px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30130928/NVDA.png 1002w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30130928/NVDA-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30130928/NVDA-768x398.png 768w" sizes="(max-width: 1002px) 100vw, 1002px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40046076/vp-kamala-harris-crypto-reset-may-be-too-little-too-late-bernstein">VP Kamala Harris&#8217; &#8216;Crypto Reset&#8217; May Be Too Little Too Late: Bernstein</a></li>
</ul>
Photo via Shutterstock.

Movers

AMKR

LSCC

NVDA

NVIDIA Shares Are Trading Lower: What You Need To Know

Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) shares are rising Tuesday following impressive second-quarter 2024 financial results and <a href="https://www.benzinga.com/news/earnings/24/07/40023781/sprouts-farmers-market-stock-is-up-on-q2-results-strong-q3-guidance">strong third-quarter guidance.</a>
What Happened: Sprouts reported adjusted earnings per share (EPS) of 91 cents, surpassing the estimated 78 cents. Sales figures also beat expectations, coming in at $1.890 billion against the forecasted $1.835 billion. 
The company also issued third-quarter earnings guidance above analysts' estimates, with EPS outlook of 71 cents to 75 cents per share versus estimates of 69 cents per share.
Analyst Upgrades and Price Target Increases
Following these results, several analysts have upgraded their ratings and raised their price targets for Sprouts Farmers Market:
<ul>
<li>BMO Capital: Analyst Kelly Bania upgraded SFM from Underperform to Market Perform, raising the price target from $40 to $102.</li>
<li>Wells Fargo: Analyst Edward Kelly upgraded SFM from Underweight to Equal-Weight, increasing the price target from $62 to $90.</li>
<li>B of A Securities: Analyst Robert Ohmes maintained a Buy rating, raising the price target from $84 to $100.</li>
<li>Roth MKM: Analyst Bill Kirk maintained a Neutral rating, lifting the price target from $58 to $78.</li>
<li>Deutsche Bank: Analyst Krisztina Katai maintained a Hold rating, increasing the price target from $76 to $89.</li>
<li>Evercore ISI Group: Analyst Michael Morris maintained an In-Line rating, raising the price target from $84 to $96.</li>
</ul>
SFM Price Action: Sprouts Farmers Market&#8217;s shares were up by 14.5% at $96.93 according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro.</a>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="982" height="526" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30142055/SFM.png" alt="" class="wp-image-465731" style="width:429px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30142055/SFM.png 982w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30142055/SFM-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30142055/SFM-768x411.png 768w" sizes="(max-width: 982px) 100vw, 982px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/40047803/greenways-full-year-net-loss-widens-sees-rebound-in-q4-as-revenue-increases-9-yoy">Greenway&#8217;s Full-Year Net Loss Widens, Sees Rebound In Q4 As Revenue Increases 9% YoY</a></li>
</ul>
Photo Via Shutterstock.

Sprouts Farmers Market Shares Surge On Strong Q2 Results And Upbeat Guidance

Goldman Sachs analyst Eric Sheridan reiterated a Buy rating on Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a price target of $250, up from $225.
Sheridan previewed Amazon&#8217;s upcoming second-quarter operating results and increased his above-Street 2025 GAAP operating income estimate (now +8% above) as he noted a margin upside.
Three central investor debates are heading into earnings, and according to the analyst, they are likely to drive incremental share price performance.
Based on various industry checks, Sheridan said Amazon&#8217;s eCommerce business remained strong in the second quarter.
The analyst flagged Amazon&#8217;s ability to continue producing operating income margin upside.
Sheridan noted the potential for outperformance in 2025 driven by higher retail margins &amp; a stronger contribution of advertising and also maintained a positive long-term view on international margins and expects AWS profitability to remain robust.
Sheridan also highlighted the trajectory of AWS revenue growth. The analyst expects reacceleration through 2024 as prior headwinds around optimization and workload migration turn into tailwinds, and AI workloads are a rising tailwind.
Sheridan noted room for retail margins to continue expanding, driven by operating leverage on fixed retail assets, continued progress on lowering costs, a more moderate rate of inflation of important input costs, and the high-margin contribution of growing revenue streams.
The analyst expects the growing scale of Amazon&#8217;s advertising efforts to be an additional tailwind to reported consolidated operating income margins.
Sheridan projected fiscal 2024 revenue and operating income of $633.89 billion and $64.48 billion. The analyst expects fiscal 2025 revenue and operating income of $697.93 billion and $82.76 billion.
RBC Capital analyst Brad Erickson reiterated an Outperform rating on Amazon with a price target of $215.
Commentary from RBC&#8217;s early July off-quarter software bus tour suggested that Amazon&#8217;s GPU activity had improved through the quarter, which was encouraging, and Erickson expects management&#8217;s broader AI commentary to remain bullish, though with commentary likely to stay only qualitative.
Media reports emerged throughout the quarter regarding Amazon shifting its orders with Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to <a target="_blank" href="https://www.benzinga.com/startups/24/07/39990517/amazon-tests-ai-chips-in-texas-lab-aims-to-cut-nvidia-costs" rel="noreferrer noopener">its next-gen chips</a>. This could now be somewhat delayed until the impact there is decided. The bottom line is that Erickson expects the company&#8217;s steady reacceleration to continue pushing back against some type of a more dire share loss thesis as a function of AI.
Erickson expects the #2 and #3 players&#8217; growth to continue outpacing but also remain focused if and as AWS gets back to the most considerable marginal dollar growth.
Sheridan projected fiscal 2024 revenue and operating income of $630.51 billion and $60.41 billion. The analyst expects fiscal 2025 revenue and operating income of $696.18 billion and $77.1 billion.
Price Action: AMZN shares traded lower by 1.12% to $181.16 at the last check on Tuesday.
Photo by ANIRUDH on Unsplash

Price Target

Reiteration

Analyst Ratings

Tech

Trading Ideas

AMZN

Amazon Q2 Earnings Preview: Gains From eCommerce and Cloud Business, Operating Margin Upside On Analysts Radar

On Monday, NewAmsterdam Pharma Company N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAMS#NASDAQ">NAMS</a>) released topline data from the Phase 3 BROOKLYN clinical trial, the first of four studies to evaluate obicetrapib in heterozygous familial hypercholesterolemia (HeFH) patients, whose LDL-C is not adequately controlled, despite being on maximally <a href="https://www.benzinga.com/pressreleases/24/07/g40008611/newamsterdam-pharma-announces-positive-topline-data-from-pivotal-phase-3-brooklyn-clinical-trial-e" target="_blank" rel="noreferrer noopener">tolerated lipid-lowering therapy</a>.
The BROOKLYN trial met its primary endpoint, achieving an LS mean reduction of 36.3% (p &lt; 0.0001) compared to placebo at day 84, which was sustained at day 365 with an LS mean LDL-C reduction of 41.5% (p &lt; 0.0001).
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36648811/cholesterol-player-newamsterdam-pharmas-obicetrapib-is-a-potential-blockbuster-in-c" rel="noreferrer noopener">Cholesterol Player NewAmsterdam Pharma&#8217;s Obicetrapib Is A Potential Blockbuster In Cardiovascular Market: Bullish Analyst Says</a>.
The observed reductions in other biomarkers, including high-density lipoprotein cholesterol (HDL-C), non-HDL-C, lipoprotein(a) (Lp(a)), and apolipoprotein B (ApoB), met statistical significance.
In the trial, obicetrapib was observed to be well-tolerated, with safety results comparable to placebo and no increase in blood pressure.
The treatment discontinuation rate for the anacetrapib arm was 7.6% versus 14.4% for the placebo.
Despite the trial hitting its primary endpoint, the company&#8217;s stock experienced volatility, closing 8.35% lower at $17.29 on Monday.
William Blair notes that investors debate the read-through of BROOKLYN to the ongoing BROADWAY and PREVAIL trials.
The analyst highlights that though the LDL reductions came in a little below expectations, William Blair is still confident in obicetrapib&#8217;s ability to drive a 20% relative risk reduction (RRR) in outcomes in the PREVAIL study (roughly a 34% LDL reduction needed to reach 20% RRR).
The analyst <a target="_blank" href="https://www.benzinga.com/quote/NAMS/analyst-ratings" rel="noreferrer noopener">reiterates the Outperform rating</a>.
It is not unexpected to see LDL-C increase over time in HeFH patients, but the analyst expects less change over longer follow-up in BROADWAY and PREVAIL studies.
William Blair also states that the safety of obicetrapib looked strong, but highlights that this study&#8217;s small size makes it more cautious to over-interpret secondary endpoints like cardiovascular events.
Price Action: NAMS stock is down 1.97% at $16.91 at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40019272/iovance-biotherapeutics-price-forecast-slashed-by-40-on-mutated-uptake-for-its-newl" target="_blank" rel="noreferrer noopener">Iovance Biotherapeutics Price Forecast Slashed By 40% On Mutated Uptake For Its Newly Approved Skin Cancer Cell Therapy</a>.</li>
</ul>
Photo: Shutterstock

Analyst Color

Biotech

Health Care

General

NAMS

Analyst Confident In NewAmsterdam Pharma's Cholesterol Drug Despite Mixed Reactions To Study Results

The German government&#8216;s recent sale of nearly 50,000 Bitcoin, worth approximately $2.89 billion, has stirred debate within the cryptocurrency community. One of the most vocal critics of this move is Joana Cotar, a German Bundestag member who described the sale as a &#8220;monumental missed opportunity.&#8221;
<h3 class="wp-block-heading">A Signal About Germany's Digital Economy Readiness</h3>
Cotar argues that holding Bitcoin as a long-term strategic asset could have yielded substantial future value. She warned that selling the cryptocurrency sends a concerning signal about Germany&#8217;s readiness to adapt to the digital economy&#8217;s realities. The Eastern German state of Saxony conducted the liquidation, <a href="https://www.medienservice.sachsen.de/medien/news/1077662">citing</a> a legal obligation to sell seized assets if there is a threat of significant price loss.
Cotar criticized this rationale, suggesting it demonstrates a critical misunderstanding of Bitcoin's potential. She proposed changes to the law to allow government institutions to hold Bitcoin for extended periods, backed by secure storage guidelines and periodic reviews.
<figure class="wp-block-image size-full is-resized"><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/2024/07/30142545/905735A6-57D3-4874-9AA1-75D037842DB3-1-21.gif" alt="" class="wp-image-465740" style="width:441px;height:auto" /></a></figure>
<h3 class="wp-block-heading">The Strategic Value of Bitcoin</h3>
The German lawmaker also highlighted Bitcoin&#8217;s potential as an inflation hedge due to its fixed supply. Additionally, its decentralized nature could protect against geopolitical risks and manipulation by major players. Cotar suggested that Germany explore the possibility of adopting Bitcoin as a legal tender, similar to<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38781429/el-salvador-is-making-it-easy-for-everyone-to-know-how-much-bitcoin-the-country-holds-laun"> El Salvador&#8217;s approach</a>.
She proposed creating a regulatory sandbox for Bitcoin businesses, akin to Switzerland's "Crypto Valley" in Zug, to foster innovation while managing risks. Other recommendations included offering tax incentives for clean energy-powered Bitcoin mining and integrating Bitcoin education into financial literacy programs.
<h3 class="wp-block-heading">Broader Implications and Global Perspectives</h3>
Cotar praised El Salvador's President Nayib Bukele for his pro-Bitcoin measures, such as Bitcoin bonds and the proposed Bitcoin City, suggesting that Germany could benefit from similar initiatives tailored to its economic circumstances.
However, major financial institutions like the International Monetary Fund (IMF) continue to resist widespread cryptocurrency adoption, <a href="https://www.benzinga.com/markets/cryptocurrency/23/02/31036666/imf-calls-for-coordinated-action-to-address-risks-posed-by-crypto-assets">warning</a> that it could undermine monetary policy and lead to financial instability. Cotar dismissed this opposition as &#8220;short-sighted,&#8221; arguing that cryptocurrencies could more effectively address issues such as financial inclusion than Central Bank Digital Currencies (CBDCs).
<h3 class="wp-block-heading">A First-Mover Advantage?</h3>
Cotar believes that the first country from the Organisation for Economic Co-operation and Development (OECD) to embrace Bitcoin as a strategic reserve asset could gain a significant first-mover advantage. This nation could attract tech talent and innovation, potentially becoming a hub for Bitcoin startups. &#8220;Holding Bitcoin as a strategic reserve could provide leverage by reducing dependence on the U.S. dollar,&#8221; Cotar opined.
<h3 class="wp-block-heading">Looking Ahead to Benzinga&#8217;s Event</h3>
These themes and the future of digital assets will be explored in depth at <a href="https://www.benzinga.com/events/digital-assets/">Benzinga&#8217;s Future of Digital Assets </a>event in New York City on November 19, 2024. This event will bring together industry leaders and institutional investors to discuss the state of digital asset adoption, the impact of political decisions on market dynamics, and the strategic responses needed to navigate these changes.
As the digital asset industry evolves, events like these are essential for understanding the interplay between politics and cryptocurrency, helping to shape the future of this rapidly changing market. This gathering promises to offer valuable perspectives and networking opportunities, making it a pivotal moment for stakeholders looking to stay ahead in the digital economy.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40048170/bitcoin-advocate-slams-number-go-up-culture-freedom-money-people-are-done-with-bitcoin">Bitcoin Advocate Slams &#8216;Number Go Up&#8217; Culture: &#8216;Freedom Money People Are Done With Bitcoin&#8217;</a></li>
</ul>
Image: Shutterstock

Events

Germany's Bitcoin Sale Sparks Controversy: A Missed Opportunity?

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, PLTR stock has gained over 32% in the past year. Investors can gain exposure to the stock via&nbsp;REX AI Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIPI#NASDAQ">AIPI</a>) and&nbsp;Global X Funds Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>).
Citigroup analyst Tyler Radke maintains Palantir with a Neutral and raises the <a target="_blank" href="https://www.benzinga.com/quote/PLTR/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$25&nbsp;to&nbsp;$28.</a>
Palantir is due to report second-quarter<a href="https://www.benzinga.com/earnings"> financial results on Aug. 5. </a>
According to&nbsp;<a target="_blank" href="http://pro.benzinga.com/" rel="noreferrer noopener">Benzinga Pro</a> estimates, the company is expected to report earnings of 8 cents per share and revenue of $652.141 million.
Based on data, Radke sees a constructive medium-term for the stock as a beneficiary of GenAI green shoots.&nbsp;&nbsp;
Also Read:<a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/07/40042583/will-powell-hint-at-september-rate-cut-what-major-us-investment-banks-expect-from" rel="noreferrer noopener"> Will Powell Hint At September Rate Cut? What Major US Investment Banks Expect From Fed Meeting</a>
However, the analyst sees the second quarter to be somewhat choppy.
Yesterday, the firm announced a multi-year partnership in which Tree Energy Solutions will leverage Palantir&#8217;s AI software in supply chain management, simulation and scenario modeling for investment optimization, site selection, asset management, carbon emissions tracking, and <a target="_blank" href="https://www.benzinga.com/news/24/07/40012052/whats-going-on-with-palantir-stock-today" rel="noreferrer noopener">modeling the energy transformation pipeline.</a>
Last quarter, Palantir turned in its sixth consecutive quarter of GAAP profitability, beating analyst estimates as revenue grew 21% year-over-year.
Wedbush analyst&nbsp;Dan Ives recently set a new&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39836711/palantir-stock-up-over-60-this-year-but-analyst-says-the-story-remains-very-underva" rel="noreferrer noopener">bull-case price target of $50</a> on Palantir shares, noting that the Palantir story &#8220;remains very undervalued and misunderstood by the Street.&#8221;
Price Action: PLTR shares are trading lower by 2.99% to $26.27 at last check Tuesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40023359/investors-rush-into-junk-corporate-bonds-as-fed-rate-cut-speculation-goes-wild-hi" target="_blank" rel="noreferrer noopener">Investors Rush Into Junk Corporate Bonds As Fed Rate Cut Speculation Goes Wild: High-Yield Credit ETF Sees Record Monthly Inflows</a></li>
</ul>

Equities

AIPI

PLTR

SHLD

What's Going On With Palantir Technologies Stock Today?

This week we have one of the most stacked lineups of the year with big tech earnings (MSFT/AMD/META/AMZN/AAPL) on Tues/Weds/Thurs parked on both sides of the main event (FOMC) on Weds. This is setting tech stocks up for an explosive move this week. Let&#8217;s dive into the key reasons why &#8211; and how to position yourself for maximum profit.
Big Tech Sells Off
Over the last two weeks, QQQ's as well as SPY's sold off heavily, losing 7% and 3% respectively. One of the main drivers of this was the overleveraged tech/AI space with QQQ's up 19% on the year and the big daddy in the tech index up +163% heading into the July op-ex (monthly option expiry).
Leverage is a double sided blade meaning that it will be a big reason why you climb so high, but also a big reason you fall so heavily. Tech/AI/semi's were all in the same boat – overleveraged, hence the big sell off. We predicted this in our Benzinga Option School weekly report suggesting these uber-long call tickers were setup for a pullback come the July op-ex. What we've seen since then is a big deleveraging of those long call/bullish bets, with traders also cutting back shares. Now that we've seen some ‘normalizing' of the positioning, we think tech is in a place where it can either a) rip higher with strong earnings or b) sell off further if the earnings don't dress to impress. In either scenario, the FOMC has to play ball (dovish/rate cut for bullish moves, hawkish/no rate cut for bearish action). Volatility Premium
When you trade options, you're not just trading direction. You're also trading time and volatility as those are two input variables which affect the pricing of options. We think the volatility premium (which has been climbing as the big tech players have sold off) offers a reason why tech could explode higher.&nbsp;
When volatility increases, if the markets give us strong earnings + a supportive FOMC, that volatility premium has to come down. This not only gives Vanna/hedging effects which provide a tailwind to the tickers, but also gives traders a reason to sell volatility via short puts. If you know that the ticker is supported at a particular level you think will hold, you can sell puts to take advantage of the fact the volatility premium will come down, thus providing a profit contour even if the stock price goes nowhere. We think traders will want to sell that volatility if the earnings + FOMC are bullish this week, giving additional reasons why the market could rip higher. At the same time, volatility is not ‘over-priced', so if the FOMC + earnings are bearish, we think there's plenty of room to go, which would support a bearish move.&nbsp;
In either scenario, volatility will be a strong input variable for a potentially explosive move this week.
How to Trade It?
We'll be giving specific trade ideas to our Benzinga Option School &amp; Trading Wave members Tuesday or Weds during our special FOMC class at 2pm EST as we'll be covering the FOMC statement release and press conference. But to give you some hints, if you think the market will be bullish, we recommend buying bull call spreads OTM (out of the money) for the Aug 16 op-ex as we think this week will be a major driver for the upcoming month. On the flip side, if you think the FOMC/earnings will disappoint, we suggest doing the inverse, buying a bear put spread targeting deeper OTM strikes for the same Aug op-ex.
<img loading="lazy" decoding="async" width="624" height="314" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe9r5c5VBzvCqIXsm3tXOGY4cDxzHP4EtnCLdv7ihthNRlQm1Z0uOBcuWDaI6Y6xssGscPSKippHMhDT3ENKUMLO8yV6TUBk7qB_KDf_xBNwvRqkRnPaVLFpuaXkkehrFvRemGxn9Pgsv_lNJ7K68JloKSfGBqOX3fiEVTEOb0ItEx7lp2hFUI?key=0yioLK8CtTFZ2lHkeBDbqQ" />
Strikes that stand out to us are 470 and 500 for the upside in QQQ's, and 450 for the downside. Overall we prefer trading QQQ's this week over SPY's as we think there is going to be a more volatile reaction towards the earnings/FOMC in the tech index, thus providing a unique trading opportunity.
If you want more of my Short-Term Options Trade ideas you can find them <a href="https://www.benzinga.com/premium/ideas/trading-waves-30-day-trial-49/?utm_source=RD-0730">Here</a> 
Photo via Shutterstock

Opinion

Why Tech Stocks Are Set to Explode This Week

The Internal Revenue Service has warned taxpayers against <a href="https://www.benzinga.com/government/24/07/39912069/irs-warns-of-unscrupulous-tax-preparers-misrepresenting-clean-energy-tax-credits">&#8220;unscrupulous&#8221; tax preparers </a>carrying out clean energy tax credit scams. 
The ruse occurs when tax preparers illegally give taxpayers tax credits to which they are not entitled.
&#8220;Unscrupulous (or misinformed) tax preparers may exploit taxpayers for financial gain by charging fees for falsely claiming tax credits,&#8221; Tom O&#8217;Saben, the National Association of Tax Preparers&#8217; director of tax content and government relations, told Benzinga.
&#8220;They might promise larger refunds or reduced tax liabilities, thereby attracting more clients and increasing their revenue,&#8221; he said. &#8220;Additionally, they may inappropriately base their fee as a percentage of the refund they are calculating.&#8221;
The tax preparers know they may get caught for the scams, but they do it anyway, O&#8217;Saben said.
&#8220;Some tax preparers might prioritize short-term financial gain over ethical considerations,&#8221; he said. 
Read Also: <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/07/40001141/government-to-match-retirement-savings-for-millions-of-workers-opening-new-op">Government To Match Retirement Savings For Millions Of Workers, Opening New Opportunities For Financial Advisors</a>
&#8220;By engaging in fraudulent activities, they risk penalties and legal consequences but might still see immediate financial benefits.&#8221;
They may also see it as a way to drum up more business, he said.
&#8220;Misleading clients about tax credits could lead to repeat business if taxpayers believe they are receiving more substantial refunds or tax benefits through the preparer&#8217;s services.&#8221;
Taxpayers can steer clear of such scams by checking the IRS website to make sure that tax preparers are following the rules on tax credits and that they adhere to all tax regulations, O&#8217;Saben said.
&#8220;Select tax preparers with established credentials, such as certified public accountants (CPAs), enrolled agents (EAs), or those affiliated with recognized professional organizations,&#8221; he said. &#8220;Check their background and reviews if possible.&#8221;
Taxpayers should also educate themselves on the eligibility for tax credits and deductions. They should also review their tax returns to make sure they are being filed accurately and legitimately, he said.
By staying vigilant and informed, taxpayers can reduce the risk of falling victim to scams orchestrated by ill-informed or ill-intentioned tax preparers seeking to exploit clean energy tax credits for personal gain.
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/personal-finance/financial-advisors/24/07/39873500/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a></li>
</ul>
Image: Shutterstock

Government

Financing

Tax Preparers Conduct Clean Energy Tax Credit Scams For Financial Gain, Industry Group Says

Kaspa's (CRYPTO:KAS) price has increased 3.36% over the past 24 hours to $0.19. Over the past week, KAS has experienced an uptick of over 9.0%, moving from $0.18 to its current price. As it stands right now, the coin's all-time high is $0.20. 
The chart below compares the price movement and volatility for Kaspa over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1722366225_0.png" alt="price_chart" />
The trading volume for the coin has increased 119.0% over the past week while the overall circulating supply of the coin has increased 0.28% to over 24.32 billion which makes up an estimated 84.74% of its max supply, which is 28.70 billion. The current market cap ranking for KAS is #27 at $4.74 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1722366225_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cryptocurrency Kaspa Up More Than 3% In 24 hours

Uniswap's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>) price has decreased 4.79% over the past 24 hours to $7.4, continuing its downward trend over the past week of -4.0%, moving from $7.71 to its current price. 
The chart below compares the price movement and volatility for Uniswap over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1722366155_0.png" alt="price_chart" />
The trading volume for the coin has tumbled 37.0% over the past week while the circulating supply of the coin has risen 0.12%. This brings the circulating supply to 753.77 million, which makes up an estimated 75.38% of its max supply of 1.00 billion. According to our data, the current market cap ranking for UNI is #20 at $5.58 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1722366155_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$UNI

Uniswap Falls More Than 4% In 24 hours

The FDA has issued a warning about numerous adverse events, including hospitalizations, stemming from dosing errors and overdoses of compounded semaglutide injectable products, underscoring the risks posed by<a href="https://www.benzinga.com/topic/fda-0"> non-FDA-approved variations.</a>
These errors often stem from patients incorrectly measuring and self-administering doses and healthcare providers miscalculating doses.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/40041991/novo-nordisks-ozempic-reduces-smoking-related-health-interventions-in-diabetic-patients-study-fin" rel="noreferrer noopener">Novo Nordisk&#8217;s Ozempic Reduces Smoking-Related Health Interventions In Diabetic Patients, Study Finds</a>.
Novo Nordisk A/S&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) semaglutide belongs to a class of medications known as glucagon-like peptide-1 (GLP-1) receptor agonists. There are currently three FDA-approved semaglutide products:
<ul>
<li>Wegovy injection&nbsp;is a single-dose prefilled pen that delivers a preset dose for once-weekly dosing.</li>
<li>Ozempic injection&nbsp;is available as multiple-dose prefilled pens for single-patient use, designed for once-weekly dosing.</li>
<li>Rybelsus tablets&nbsp;are available as oral tablets for daily dosing.</li>
</ul>
Mistakes often involved unfamiliarity with drawing medication from a vial into a syringe and confusion over different units of measurement such as milliliters, milligrams, and &#8220;units.&#8221;
&#8220;Many of the patients who received vials of compounded semaglutide lacked experience with self-injections, according to the adverse event reports,&#8221; the FDA said in a July 26&nbsp;<a target="_blank" href="https://www.fda.gov/drugs/human-drug-compounding/fda-alerts-health-care-providers-compounders-and-patients-dosing-errors-associated-compounded?utm_medium=email&amp;utm_source=govdelivery" rel="noreferrer noopener">statement</a>.
The prescribing information for FDA-approved semaglutide injections includes overdose risks, such as severe nausea, vomiting, and hypoglycemia, which may require prolonged observation and treatment due to the drug&#8217;s long half-life.
FDA has noted compounded semaglutide products marketed for weight loss, which pose higher risks because they do not undergo FDA premarket review.
Compounded semaglutide products can vary significantly from approved products in packaging, concentration, and administration instructions. Variations include multiple-dose vials, prefilled syringes, and differing concentrations from various compounders.
Reports to the FDA highlighted errors with compounded semaglutide in multiple-dose vials, resulting in patients drawing up more than the prescribed dose. These instances often involved patients administering five to 20 times the intended dose, primarily due to unfamiliarity with syringe measurements.
FDA-approved semaglutide products, available in prefilled pens with standard concentrations, avoid these issues.
However, compounded versions with various concentrations have led to healthcare providers miscalculating doses, sometimes by significant margins.
Price Action: NVO stock is up 0.43% at $128.59 at last check Tuesday.
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Photo: Tobias Arhelger/Shutterstock.com

Large Cap

FDA Warns Of Overdose Risks With Compounded Wegovy, Ozempic Injections

Pepe's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) price has decreased 4.98% over the past 24 hours to $0.000011, continuing its downward trend over the past week of -7.0%, moving from $0.000012 to its current price. 
The chart below compares the price movement and volatility for Pepe over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1722366146_0.png" alt="price_chart" />
The trading volume for the coin has tumbled 49.0% over the past week while the circulating supply of the coin has risen 0.48%. This brings the circulating supply to 420.69 trillion, which makes up an estimated 100.0% of its max supply of 420.69 trillion. According to our data, the current market cap ranking for PEPE is #25 at $4.75 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1722366146_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$PEPE

Cryptocurrency Pepe Falls More Than 4% In 24 hours

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to start off Thursday with a breakdown of the biggest pre-market stock movers worth keeping an eye on this morning!



Moving stocks are new deals, earnings reports, and share offerings.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Hempacco (NASDAQ:<a href="https://investorplace.com/stock-quotes/hpco-stock-quote/">HPCO</a>) stock is rocketing more than 67% after <a href="https://www.nasdaq.com/press-release/hempacco-expands-its-reach-to-india-and-thailand-signing-exclusive-master">signing a new distribution agreement</a>.</li>



<li>MicroAlgo (NASDAQ:<a href="https://investorplace.com/stock-quotes/mlgo-stock-quote/">MLGO</a>) shares are soaring 43% as it <a href="https://investorplace.com/2023/12/why-is-microalgo-mlgo-stock-up-55-today/">continues a recent rally</a>.</li>



<li>Altisource Asset Management (NYSEMKT:<a href="https://investorplace.com/stock-quotes/aamc-stock-quote/">AAMC</a>) stock is surging over 20% following <a href="https://www.nasdaq.com/press-release/altisource-asset-management-corporation-reports-key-ruling-in-blackrock-and-pimco">a lawsuit update</a>.</li>



<li>Oblong (NASDAQ:<a href="https://investorplace.com/stock-quotes/oblg-stock-quote/">OBLG</a>) shares are rising more than 17% alongside heavy trading.</li>



<li>Barnes &amp; Noble Education (NYSE:<a href="https://investorplace.com/stock-quotes/bned-stock-quote/">BNED</a>) stock is gaining over 17% with the release of its <a href="https://www.nasdaq.com/press-release/barnes-noble-education-reports-second-quarter-fiscal-year-2024-financial-results-2023">fiscal Q2 earnings report</a>.</li>



<li>AerSale (NASDAQ:<a href="https://investorplace.com/stock-quotes/asle-stock-quote/">ASLE</a>) shares are increasing more than 16% after getting a <a href="https://www.nasdaq.com/press-release/aersaler-receives-boeing-737ng-supplemental-type-certificate-for-its-enhanced-flight">737NG supplemental certificate</a>.</li>



<li>Parts ID (NYSEMKT:<a href="https://investorplace.com/stock-quotes/id-stock-quote/">ID</a>) stock is heading over 14% higher alongside <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=317912997&amp;type=PDF&amp;symbol=ID&amp;cdn=6612bfe828c1a332523110a4b54f7d0e&amp;companyName=PARTS+iD+Inc.+Class+A&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2023-12-06">a financing deal</a> with Riverside Capital NY.</li>



<li>TLGY Acquisition (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlgy-stock-quote/">TLGY</a>) shares are climbing more than 14% on Thursday morning.</li>



<li>Cerevel Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/cere-stock-quote/">CERE</a>) stock is jumping 14% as AbbVie (NYSE:<a href="https://investorplace.com/stock-quotes/abbv-stock-quote/">ABBV</a>) <a href="https://www.nasdaq.com/press-release/abbvie-to-acquire-cerevel-therapeutics-in-transformative-transaction-to-strengthen">acquires the company</a>. </li>



<li>36KR Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/krkr-stock-quote/">KRKR</a>) shares are up over 13% with its <a href="https://www.nasdaq.com/press-release/36kr-holdings-inc.-reports-third-quarter-2023-unaudited-financial-results-2023-12-07">Q3 2023 earnings report</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Troika Media Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/trka-stock-quote/">TRKA</a>) stock is crashing more than 55% after announcing a <a href="https://www.nasdaq.com/press-release/troika-media-group-inc.-announces-strategic-chapter-11-filing-and-sale-to-blue-torch">Chapter 11 filing and sale plans</a>.</li>



<li>ZyVersa Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/zvsa-stock-quote/">ZVSA</a>) shares are retreating over 41% after <a href="https://www.nasdaq.com/press-release/zyversa-therapeutics-inc.-announces-pricing-of-%245.0-million-public-offering-2023-12">pricing a stock offering</a>.</li>



<li>Red Cat (NASDAQ:<a href="https://investorplace.com/stock-quotes/rcat-stock-quote/">RCAT</a>) stock is plummeting close to 33% as it also <a href="https://seekingalpha.com/news/4044165-red-cat-holdings-stock-dips-on-pricing-8-million-capital-raise-via-stock-offering?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain">prices a share offering</a>.</li>



<li>Bit Brother (NASDAQ:<a href="https://investorplace.com/stock-quotes/bets-stock-quote/">BETS</a>) shares are diving 30% on a <a href="https://seekingalpha.com/news/4043573-bit-brother-to-raise-12m-via-stock-and-warrants-offering">stock and warrants offering</a>.</li>



<li>Sprinklr (NYSE:<a href="https://investorplace.com/stock-quotes/cxm-stock-quote/">CXM</a>) stock is tumbling more than 25% <a href="https://seekingalpha.com/news/4044109-sprinklr-non-gaap-eps-of-0_12-beats-0_05-revenue-of-186_3m-beats-5_88m">despite a recent earnings beat</a>.</li>



<li>Baiyu (NASDAQ:<a href="https://investorplace.com/stock-quotes/byu-stock-quote/">BYU</a>) shares are taking an over 23% beating <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=317911768&amp;type=PDF&amp;symbol=BYU&amp;cdn=2d217588152e75dd156bcd8f04605b44&amp;companyName=BAIYU+Holdings+Inc.&amp;formType=SC+13D&amp;formDescription=General+statement+of+acquisition+of+beneficial+ownership&amp;dateFiled=2023-12-06">despite a recent investment</a>.</li>



<li>Wave Life Sciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/wve-stock-quote/">WVE</a>) stock is sliding more than 22% after <a href="https://www.nasdaq.com/press-release/wave-life-sciences-prices-%24100-million-public-offering-of-ordinary-shares-2023-12-07">pricing a public offering</a>.</li>



<li>FSD Pharma (NASDAQ:<a href="https://investorplace.com/stock-quotes/huge-stock-quote/">HUGE</a>) shares are dropping over 17% on Thursday morning.</li>



<li>Greenbrook TMS (NASDAQ:<a href="https://investorplace.com/stock-quotes/gbnh-stock-quote/">GBNH</a>) stock is decreasing more than 17% following a rally yesterday.</li>



<li>Starbox (NASDAQ:<a href="https://investorplace.com/stock-quotes/stbx-stock-quote/">STBX</a>) shares close out our pre-market stock movers down over 16%.</li>
</ol>On the date of publication, William White&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the 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/2023/12/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-thursday-dec-7th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday

TLGY Acquisition Corp. Class A (TLGY) has released an update. The Company has informed Continental Stock Transfer & Trust Company that it plans to ...

TLGY Acquisition Corp. Extends Business Combination Deadline

TLGY Acquisition Corp. Class A (TLGY) has issued an update. TLGY Acquisition Corporation and Verde Bioresins, Inc. had a merger agreement that was ...

TLGY Acquisition Corp. Merger Plans with Verde Collapse

The latest update is out from TLGY Acquisition Corp. Class A (TLGY). TLGY Acquisition Corporation has announced the resignation of directors Hyunch...

TLGY Acquisition Corp. Announces Executive Reshuffle and CFO Search

TLGY Acquisition Corp. Class A (TLGY) just unveiled an announcement. Steven Norman, the CFO and a director of TLGY Acquisition Corporation, resigne...

TLGY Acquisition Corp. Sees Two Key Director Resignations

TLGY Acquisition Corp. Class A (TLGY) has provided an update. TLGY Acquisition Corporation recently underwent significant corporate restructuring a...

TLGY Acquisition Corp. Undergoes Major Restructuring and Leadership Shake-Up

ASLE

BETS

BNED

CERE

GBNH

HPCO

HUGE

KRKR

MLGO

OBLG

RCAT

STBX

TLGY

TRKA

ZVSA

Press Releases

TLGY Acquisition Corporation Announces Filing of Registration Statement on Form S-4 in Connection With Its Proposed Business Combination With Verde Bioresins

irlabs Hosts Roadshow Across Canada

TLGY Acquisition Corporation files Form S-4 for proposed business combination with Verde Bioresin

TLGY Acquisition Corporation Announces Upcoming Investor Events and Facility Tour at Verde's Manufacturing Facility

CSE:BOIL

CSE:FNDX

CSE:FRSH

CSE:WEBV

MGAM

TLGYU

TSX:AVNT

TSXV:GIII

TSXV:INTR

TSXV:LSTR

TSXV:NURS

TSXV:PTFY

VRDE

TLGY Acquisition

<ul>
	<li>Verde pioneered PolyEarthyleneTM, an innovative and proprietary bioresin that has the potential to replace traditional petroleum-based plastics and disrupt the plastics industry. It is an economically feasible alternative that is capable of being dropped into existing plastics manufacturing processes.</li>
	<li>Verde is one of the first scalable full-service bio-resin market solutions we believe is capable of meeting most of the environmental, application, manufacturing, and cost requirements of the industry.</li>
	<li>Verde&#39;s current applications may be able to address nearly half of the approximate&nbsp;$600 billion&nbsp;total addressable global plastics market. Despite global regulatory and political pressures for eco-friendly solutions, green plastics currently have less than&nbsp;2%&nbsp;market penetration.</li>
	<li>Business combination implies a pre-money enterprise value of&nbsp;$365 million&nbsp;(pro forma EV of&nbsp;$433 million) on a cash-free and debt-free basis (excluding up to&nbsp;$365 million&nbsp;in performance-based earnouts shares).</li>
	<li>Vinmar, a global distributor of plastics, entered into a strategic partnership with Verde to market PolyEarthyleneTM, and has been working closely to market PolyEarthylene&trade; to its large corporate customer base, generating more than a dozen opportunities and several initial orders with potential customers in the first few months.</li>
	<li>Braskem is a strategic supplier to Verde and is expected to support Verde with the feedstock capacity to transition high volume plastics applications to sustainable materials. As Verde&#39;s business grows, Verde&#39;s relationship with Braskem is expected to continue to expand as well.</li>
</ul>

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.verdebioresins.com%2F&amp;esheet=53428400&amp;newsitemid=20230622187747&amp;lan=en-US&amp;anchor=Verde+Bioresins%2C+Inc.&amp;index=1&amp;md5=cffd7681eb87a9568c9680d16ecc32a3">Verde Bioresins, Inc.</a>&nbsp;(&quot;Verde&quot; or the &quot;Company&quot;), a visionary in sustainable product innovation and full-service bioplastics production with its innovative and proprietary based bioresins, known as PolyEarthyleneTM, and&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.tlgyacquisition.com%2F&amp;esheet=53428400&amp;newsitemid=20230622187747&amp;lan=en-US&amp;anchor=TLGY+Acquisition+Corporation&amp;index=2&amp;md5=12c08b43845f91f7d4fe0a66f8ecd9d2">TLGY Acquisition Corporation</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLGY#NASDAQ">TLGY</a>) (&quot;TLGY&quot;), a U.S. publicly-listed blank check company, have entered into a definitive business combination agreement. Upon closing of the business combination, the combined company is expected to list its common stock on Nasdaq under the new ticker symbol &quot;VRDE.&quot;

Verde was founded in 2020 as a full-service bioplastics company specializing in sustainable materials, innovation, and state-of-the-art manufacturing with its proprietary, and potentially industry-disrupting, bio-based, renewable, and sustainable PolyEarthyleneTM&nbsp;resin. PolyEarthyleneTM&nbsp;aims to accelerate the transition to a more sustainable and circular economy, addressing nearly half of the&nbsp;$600 billion&nbsp;global plastics market that is faced with mounting regulatory pressure for eco-friendly solutions.

Unlike most other bio-plastic solutions in the market today, Verde&#39;s innovative PolyEarthyleneTM&nbsp;products are designed to provide customers with a bio-based, biodegradable and recyclable solution derived primarily from plant-based feedstock. PolyEarthyleneTM&nbsp;is cost-competitive, scalable and versatile, making it a sustainable option for a wide range of manufacturing processes, including injection molding, film extrusion, blow molding, and thermoforming, and applications such as rigid packaging.

With similar performance properties to traditional petroleum-based polymers, PolyEarthyleneTM&nbsp;products can be produced in most of the forms and colors desired by prospective customers and can be dropped into existing standard manufacturing processes, making it a versatile and economical choice for prospective customers seeking to reduce their environmental impact while still meeting industry standards and their own cost and efficiency requirements.

Verde&#39;s innovative PolyEarthyleneTM&nbsp;products aspire to make a significant impact on the global plastic pollution crisis. Verde plans to facilitate this expansion through potential partnerships with large and highly reputable suppliers, including Braskem. Braskem is a strategic supplier to Verde. As Verde continues to grow its business, we expect Verde&#39;s relationship with Braskem to continue to expand as well.

The growing demand for sustainable solutions is a driving force behind Verde&#39;s mission and the Company&#39;s recently announced partnership with Vinmar Polymers America, a division of Vinmar International, is a crucial step forward. With Vinmar&#39;s reputation as a leading global distributor of plastics, Verde believes it is well-positioned to offer its potentially disruptive PolyEarthyleneTM&nbsp;products to an even wider range of prospective customers.

Brian Gordon, Chairman of Verde, commented: &quot;Verde intends to become a leader in the global transition to a more sustainable, circular economy. Today represents a significant milestone for Verde. A merger with TLGY &ndash; a team with extensive operational and industry expertise across multiple relevant industries and a private equity style approach to value creation &ndash; will help us realize the full potential of our breakthrough bioplastics products. We believe the proceeds from the proposed transaction, along with the support of TLGY, will enable us to scale our production capabilities, moving us closer to delivering on the growing interest in our innovative and proprietary bio-resin solution.&quot;

Jin-Goon Kim, Chairman and Chief Executive Officer of TLGY, added: &quot;We are extremely pleased to announce our business combination with Verde, a first-mover with impressive growth potential aided by significant regulatory tailwinds in a massive addressable market. In our opinion and based on our due diligence, we believe Verde is one of the first full-service bio-resin market solutions that can meet most of the environmental, application, manufacturing, and cost requirements in the industry. We are excited to support the commercialization of Verde&#39;s proprietary products and the scaling of its production capabilities as it strives to become an industry leader. We believe Verde is a pioneer in advancing global sustainability initiatives and we look forward to supporting the company in its mission of providing an effective and environmentally friendly plastic alternative to combat today&#39;s current global waste crisis.&quot;

Transaction Overview 
 
The proposed business combination implies an implied pre-money enterprise value for Verde at closing of&nbsp;$365 million&nbsp;(pro forma EV of&nbsp;$433 million), excluding earnouts consideration. The boards of directors of both TLGY and Verde have approved the proposed business combination, which is expected to be completed in the second half of 2023, subject to, among other things, the approval by TLGY&#39;s stockholders and satisfaction or waiver of other conditions stated in the definitive documentation.

Assuming no further redemptions (in addition to the redemptions completed following TLGY&#39;s extraordinary general meeting on February 23, 2023) by TLGY&#39;s public stockholders in connection with closing and the payment of estimated transaction expenses, the proposed business combination would result in gross proceeds of over&nbsp;$78 million&nbsp;to Verde, comprised of&nbsp;$78 million&nbsp;of cash held in TLGY&#39;s trust as of the date hereof. Verde&#39;s controlling shareholder has committed to making a PIPE investment in TLGY at the closing of the business combination, subject to certain conditions.

The proposed business combination includes the entitlement for the equity holders of Verde immediately prior to closing, to receive earnout shares of up to&nbsp;100%&nbsp;of the closing valuation based on trading prices of the combined company&#39;s common stock meeting specified IRR thresholds of&nbsp;35%&nbsp;(based on its initial trading price) over five years. Similarly, TLGY&#39;s sponsor has agreed to align its interests with those of Verde and its public shareholders by transferring up to&nbsp;10%&nbsp;of its private warrants to Verde management and forfeit all of its remaining private warrants at the closing in exchange for potential future share grants based on stock price performance and achieving target cash requirement. TLGY offers an innovative warrant structure that provides an escalating incentive mechanism for its existing public shareholders to not redeem and for new investors to buy common shares before the closing.

Additional information about the proposed business combination, including a copy of the agreement and plan of merger, will be provided in a Current Report on Form 8-K to be filed by TLGY with the Securities and Exchange Commission (the &quot;SEC&quot;) and available at&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov%2F&amp;esheet=53428400&amp;newsitemid=20230622187747&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=077e534f2a6e89d5f4b4889a1872071a">www.sec.gov</a>.

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