Tradr 2X Short TSLA Daily ETF (NASDAQ: TSLQ)

Latest news for Tradr 2X Short TSLA Daily ETF (NASDAQ:TSLQ)

The Fund will maintain at least 80 percent exposure to financial instruments that provide inverse exposure to the daily performance of TSLA. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a daily basis, before fees and expenses, -100 percent performance of TSLA for a single day, not for any other period, by entering into one or more swap agreements on TSLA. A single day is measured from the time the Fund calculates its net asset value (NAV) to the time of the Funds next NAV calculation. The Fund will enter into one or more swap agreements with major global financial institutions for a specified period ranging from a day to more than one year whereby the Fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on TSLA. The gross return to be exchanged or swapped between the parties is calculated with respect to a notional amount, e.g., the return on or change in value of a particular dollar amount representing TSLA.

Tradr 2X Short TSLA Daily ETF

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Electric vehicle company Tesla Inc (NASDAQ: TSLA) has been one of the top performing stocks of the last five and 10 years. As the company faces increased competition in the electric vehicle space, investors have often bet against the automaker.

If You Invested $1,000 In The Tesla Bear Daily ETF At IPO, Here&#39;s How Much You&#39;d Have Now

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A leader in leveraged and inverse and thematic ETFs is launching new investment options for investors looking to place bets for or against two of the largest and most well-known companies in the world. Here are the details.

Super Bullish Or Bearish On Tesla Or Apple? These New ETFs Are For You

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The world’s richest man, Elon Musk, has been known to share cryptic messages with his more than 100 million Twitter Inc (NYSE: TWTR) followers.

&#39;Heatwave In Shortville&#39;: Is Elon Musk Taunting Bill Gates And Tesla Short Sellers?

Vice President Kamala Harris is likely to face off against former President Donald Trump in the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
The change comes with President Joe Biden withdrawing from the race and Harris having the reported delegates support to win the nomination.
A new election poll shows a close head-to-head battle.
What Happened: The first 2024 presidential debate performance by Trump and Biden saw election polls and<a href="https://www.benzinga.com/general/sports-betting/24/07/39868243/2024-election-betting-odds-joe-biden-has-8-chance-of-winning-according-to-sportsbooks-pred"> betting odds from sportsbooks</a> and prediction markets shift more in favor of the former president.
With Biden withdrawing from the race, the battle to win the 2024 election could be back to being the toss-up that was seen months ago.  
A new NPR/PBS News/Marist 2024 <a href="https://www.npr.org/2024/07/23/nx-s1-5048890/elections-poll-biden-harris-trump">poll </a>shows Trump with a one-point lead over Harris in a head-to-head battle. Trump has 46% support with Harris getting 45% and 9% of voters are undecided.
A larger percentage of voters are now undecided after Biden dropped out, as earlier this month only 2% of voters in the poll were undecided in the head-to-head battle.
When third-party candidates are included, the poll looks like this:
<ul>
<li>Donald Trump: 42%</li>
<li>Kamala Harris: 42%</li>
<li>Robert F. Kennedy Jr.: 7%</li>
<li>Jill Stein: 1%</li>
<li>Cornel West: 1%</li>
</ul>
The support for Kennedy Jr. hit the lowest since he was included by the poll group in April.
Read Also: <a href="https://www.benzinga.com/general/politics/24/07/39920146/harris-vs-trump-vice-president-trails-former-president-by-2-points-gains-independent-voters-59-o">Harris Vs. Trump: Vice President Trails Former President By 2 Points, Gains Independent Voters, 59% Of Democrats Say Best Chance To Win 2024 Election</a>
Why It's Important: Along with tying Trump in the five-way race in the poll, Harris is showing ground being made up in the 2024 election race since Biden dropped out.
NPR said Harris ranks better than Biden among key voter groups like young voters and non-White voters.
Sixty-five percent of Democrats also said that Biden stepping down increases the party's chances of winning the 2024 election.
Harris has a smaller percentage of Independent voters than Biden was pulling, but many of the Independent voters are now undecided in the election. Around 20% of Independent voters are undecided and around 30% of Independent women voters are undecided.
Harris becoming the official nominee and naming a vice president pick could shift the undecided voters in the coming weeks to get a closer look at the head-to-head battle. According to the<a href="https://www.washingtonpost.com/elections/2024/07/24/biden-speech-2024-election-campaign-updates/"> Washington Post</a>, &#8220;Vice President Harris will select her running mate by Aug. 7, according to two officials familiar with her timeline who spoke on the condition of anonymity to describe private deliberations.&#8221;
Seventy-seven percent of Democratic voters and Democratic-leading Independent voters polled said Harris is the right nominee for the party.
Eighty-seven percent of all voters said Biden stepping down was the right decision in the election. Sixty-eight percent said Biden should finish his current presidential term before making way for the 2024 election winner in January.
Harris has a net favorability ranking of minus four points, with 40% viewing her as positive and 44% viewing her as negative. Trump ranks worse with 43% viewing him as positive and 49% viewing him as negative. Biden was seven points behind where Harris is for her net favorability ranking, based on the ratings in a poll earlier this month.
Trump's vice-presidential pick of J.D. Vance doesn't get favorable ratings with 28% viewing him as favorable and 31% viewing him as negative and 41% saying they have never heard of him or have no opinion.
When asked who Harris' vice president pick should be, voters in the poll selected Michigan Gov. Gretchen Whitmer (21%), Secretary of Transportation Pete Buttigieg (21%) and Pennsylvania Gov. Josh Shapiro (17%) as the top options.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39919247/who-will-kamala-harris-pick-for-vice-president-crypto-bettors-have-4-favorites-for-democra">Who Will Kamala Harris Pick For Vice President? Crypto Bettors Have 4 Favorites For Democratic Party Running Mate</a></li>
</ul>
Photo: Shutterstock

Politics

Trump Vs. Harris: 2024 Election Candidates Tied In New Poll, 65% Of Democrats Say Biden Stepping Down Increases Party's Chances Of Winning

A Texas judge dismissed another of Attorney General Ken Paxton's <a href="https://www.benzinga.com/markets/cannabis/24/01/36880984/gop-attor-ney-gen-er-al-in-texas-sues-five-cities-to-stop-voter-approved-mar-i-jua-na-reform-say">lawsuits over voter-approved</a> marijuana decriminalization ordinances. It is Paxton&#8217;s second legal loss in as many cases.
"On Monday, Judge Sherri Tibbe dismissed Ken Paxton's lawsuit seeking to force the City of San Marcos to devote scarce local resources to arresting people for marijuana possession," according to Ground Game Texas in a Tuesday news release. "This ruling follows last month's dismissal of Paxton's lawsuit against the City of Austin and reaffirms that the AG has no business telling cities how to enforce drug law." 
Ground Game has been instrumental in organizing cannabis reform initiatives&nbsp;<a href="https://www.benzinga.com/topic/texas-cannabis" target="_blank" rel="noreferrer noopener">across multiple Texas cities</a>. The cities still waiting for <a href="https://www.benzinga.com/markets/cannabis/24/01/36880984/gop-attor-ney-gen-er-al-in-texas-sues-five-cities-to-stop-voter-approved-mar-i-jua-na-reform-say">Paxton to pounce</a> include Denton, Elgin and Killeen. In June, a&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39302347/texas-judge-dismisses-gop-attorney-general-ken-paxtons-lawsuit-against-voter-approved-cannabis-m" target="_blank" rel="noreferrer noopener">judge dismissed Paxton&#8217;s lawsuit</a>&nbsp;against Austin.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39920347/dallas-cannabis-reform-ballot-is-a-go-decriminalization-in-november-elections-would-allow-up-to-">Dallas Cannabis Reform Ballot Is A Go: Decriminalization In November Elections Would Allow Up To 4 Ounces Of Weed</a>
"Judge Tibbe rightly recognized Paxton has no legal basis for interfering with the will of local voters or municipal governments," said Catina Voellinger, executive director of Ground Game Texas, <a href="https://kdhnews.com/news/local/texas-district-court-judge-dismisses-another-paxton-marijuana-lawsuit/article_51d5bb84-49e0-11ef-bc1e-c7dcb88b72f3.html">reported</a> the Killeen Daily Herald. "This decision, along with the recent verification of our petition in Dallas, is a welcome reminder that this is a winning movement, and one we look forward to continuing to build across the state this November."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f31f; Ken vs. Texans: How it&#39;s going&#8230; We&#39;re winning the fight for cannabis decriminalization in TX! Join us: <a href="https://t.co/oJh9GilEvo">https://t.co/oJh9GilEvo</a> <a href="https://t.co/kLYhUhMCCt">pic.twitter.com/kLYhUhMCCt</a>
&mdash; GroundGameTX (@GroundGameTX) <a href="https://twitter.com/GroundGameTX/status/1815932596179943767?ref_src=twsrc%5Etfw">July 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Monday, Tibbe denied Paxton's application for an injunction and granted the plea to jurisdiction that had been filed by the City of San Marcos. Paxton next move could be an appeal of the judge's decisions to a higher court. As of Wednesday, a notice of appeal had not yet been filed.
<h1 class="wp-block-heading">A Full-Time Job For The AG?</h1>
Since his vendetta against cannabis decriminalization began this past January, Paxton has spent many billable hours prosecuting cities, large and small, across Texas that&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/05/39041635/73-of-texans-support-full-cannabis-legalization-or-decriminalization-including-plurality-of-repu" target="_blank" rel="noreferrer noopener">have decriminalized marijuana</a> … most with over 70% voter approval, we might add.
<h1 class="wp-block-heading">Paxton&#8217;s Motive?</h1>
Apparently, Paxton is deathly afraid of the crime he presumes will reign on the streets if the possession of small amounts of marijuana is sanctioned for consenting adults. 
&#8220;I will not stand idly by as cities run by pro-crime extremists deliberately violate Texas law and promote the use of illicit drugs that harm our communities,&#8221; Paxton wrote in a press release earlier this year. 
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39908970/trump-and-desantis-supporters-love-their-cannabis-is-rift-between-anti-weed-politicos-pot-users-">Trump And DeSantis Supporters Love Their Cannabis: Is Rift Between Anti-Weed Politicos, Pot Users Brewing In The Sunshine State?</a></li>
</ul>
Photo: El Planteo

Cannabis

Government

Regulations

Legal

GOP Attor­ney Gen­er­al In Texas Loses Legal Battle Against Towns With Decriminalized Cannabis, Insists They're 'Run By Pro-Crime Extremists'

Semiconductor stock Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) was among the technology stocks that fell Wednesday on the heels of earnings reports from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet being <a href="https://www.benzinga.com/news/24/07/39938971/chip-stocks-nvidia-amd-and-others-see-more-selloff-on-wednesday-whats-going-on">dissected by investors.</a>
What Happened: AMD stock is now down year-to-date after Wednesday's decline. The drop comes as there was some optimism across social media from photos shared by company CEO Lisa Su.
Su shared pictures of an event with Tesla that she attended.
"Great spending time with the Tesla team talking about AI, leadership and more! Proud to partner with such an amazing team! Thanks for the invite!" Su <a href="https://x.com/LisaSu/status/1816105459029274933">tweeted</a>.
Benzinga reached out to Tesla and AMD for more commentary on the meeting and did not hear back.
Su appeared to be a speaker at a Tesla event with a background slide in one picture showing the caption "Women in Tesla."
The meeting was likely more about Su's role in the technology space and less about the two companies partnering, but could be noteworthy given the past history between the two companies.
AMD <a href="https://www.amd.com/en/solutions/automotive/in-vehicle-experience.html#:~:text=Driving%20Innovation%20for%20the%20Future%20of%20In%2DVehicle%20Experience&amp;text=AMD%20is%20at%20the%20forefront,such%20as%20Tesla%20and%20Daimler">lists </a>Tesla as a partner on its website.
"The new Tesla Model S and Model X feature AMD Ryzen Embedded APU and RDNA2 based GPU that power the new infotainment experience with support for AAA gaming," the website reads.
AMD also lists a section on "driving innovation for the future of in-vehicle experience" where it highlights Tesla and Daimler as technology partners.
Read Also:<a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l"> Tesla Q2 Earnings Highlights: Revenue Beat, EPS Miss, Robotaxi Update, 2024 Growth Rate To Be &#8216;Notably Lower&#8217; Than 2023</a>
Why It's Important: AMD is one of several semiconductor companies operating in the automotive space. The company offers products for automobiles that include driver monitoring systems, in-cabin monitoring systems, driver information and more. 
In January, Tesla CEO Elon Musk said the electric vehicle company <a href="https://www.benzinga.com/news/24/01/36813208/elon-musk-says-tesla-will-buy-chips-from-amd-invest-over-500m-on-nvidia-hardware">planned to purchase </a>chips from AMD to advance its artificial intelligence efforts. The comment came as Tesla also spent $500 million to buy hardware from NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
The automotive sector is one of the fastest growth sectors for semiconductor companies with Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and others seeing strong year-over-year growth and bookings. AMD doesn't break out its automotive revenue like others in the sector, making it harder to see the impact, <a href="https://www.theregister.com/2024/01/04/amd_car_chips/">according </a>to The Registar.
The Registar highlighted new automotive related products from AMD back in January as the company looks to grow in the sector.
While Su's appearance with Tesla is likely just part of a speaking engagement, it could come with more partnerships in the future or serve as a reminder to investors that Tesla and AMD are already partners.
AMD Price Action: AMD shares closed Wednesday down 6.08% to $144.63 on Wednesday versus a 52-week trading range of $93.12 to $227.30. AMD shares are up over 30% in the last year, but now down 1.5% year-to-date in 2024, as seen on the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1">Benzinga Pro chart </a>below.
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1001" height="503" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24170103/Screenshot-82.png" alt="" class="wp-image-455265" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24170103/Screenshot-82.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24170103/Screenshot-82-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24170103/Screenshot-82-768x386.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>
AMD will report second-quarter results on July 30 after market close. Analysts expect the company to report revenue of $5.73 billion and earnings per share of 68 cents compared to $5.36 billion and 58 cents, respectively, in last year's second quarter.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39938160/8-tesla-analysts-size-up-margins-fsd-robotaxis-new-evs-as-stock-tanks-the-realities">8 Tesla Analysts Size Up Margins, FSD, Robotaxis, New EVs As Stock Tanks: &#8216;The Realities Of Today Vs. The Dreams Of Tomorrow&#8217;</a></li>
</ul>
Photo: Shutterstock

Movers

Tech

QCOM

AMD Stock Turns Negative Year-to-Date, CEO Lisa Su Meets With Tesla: What Investors Should Know

Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) reported an increase in child exploitation incidents during 2023, with over 13,000 cases flagged to the National Center for Missing and Exploited Children (NCMEC), a significant rise from 3,000 <a href="https://www.benzinga.com/general/gaming">the previous year. </a>
The platform&#8217;s broad reach, serving around 77 million daily players — including 40% under the age of 13 — has brought its safety measures into focus.
See Also: <a href="https://www.benzinga.com/general/gaming/23/09/34461316/robloxs-console-evolution-playstation-debut-realistic-avatars-whats-next-for-gamers">Roblox&#8217;s Console Evolution: PlayStation Debut, Realistic Avatars: What&#8217;s Next for Gamers?</a>
In dialogue with Benzinga, Roblox&#8217;s Communications Team shared a statement addressing concerns about its safety practices. 
&#8220;A recent article contained glaring mischaracterizations about how we protect users of all ages on the platform and failed to reflect both the complexities of online child safety and the realities of the overwhelmingly positive experiences that tens of millions of people of all ages have on Roblox every single day,&#8221; the spokesperson said. 
Roblox also stressed the reported incidents must be understood in the context of the platform&#8217;s enormous content volume.
&#8220;Bloomberg fails to provide context on the scale of these reported incidents vis-a-vis the amount of content on the platform and growing user base of 77 million daily active users. In a single quarter, Roblox users generated and uploaded approximately 205 billion total pieces of content,&#8221; the spokesperson added.
Furthermore, the company&#8217;s contribution to the NCMEC's total report count is less than 0.04% of the 36.2 million reports received by the center that year for suspected child sexual abuse material.
<h1 class="wp-block-heading">Increased Reports and High-Profile Cases</h1>
The accessibility of Roblox across various platforms, including PlayStation, PC and mobile devices, has made it a popular environment for children but has also exposed it to potential threats.
Bloomberg <a href="https://www.bnnbloomberg.ca/business/company-news/2024/07/23/the-gaming-platform-with-a-predator-problem/">reported </a>that despite Roblox's response to 1,300 law enforcement requests for information on predatory players, some individuals managed to evade detection. A high-profile case involved Arnold &#8220;DoctorRofatnik&#8221; Castillo, who operated the successful game Sonic Eclipse Online. 
Castillo was apprehended after attempting to meet a 15-year-old girl 700 miles away, leading to a 15-year prison sentence for grooming and sexual abuse.
<h1 class="wp-block-heading">Roblox's Safety Measures And Future Plans</h1>
Roblox has reiterated its commitment to safety, with Chief Safety Officer Matt Kaufman detailing ongoing efforts to enhance platform security. 
&#8220;To be the best in the world at delivering safe and civil online experiences, this is essential,&#8221; Kaufman <a href="https://corp.roblox.com/newsroom/2024/07/driving-civility-and-safety-for-all-users">said</a>. He highlighted that only 0.0063% of content on Roblox was flagged for policy violations, including bullying and hate speech.
The company is actively working on the next generation of safety tools and features to address evolving threats. &#8220;We will continue to work tirelessly to keep our users safe and be vigilant against bad actors who might attempt to circumvent our safety systems,&#8221; Kaufman affirmed in a blog post. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/23/08/33896713/roblox-shares-sink-on-short-report-saying-gaming-company-has-facilitated-more-child-abuse-than-any">Roblox Shares Sink On Short Report Saying Gaming Company &#8216;Has Facilitated More Child Abuse Than Any Public Company In History&#8217;</a></li>
</ul>
Image courtesy: Roblox Corp.

Gaming

RBLX

Roblox Reports 13,000 Child Exploitation Cases In 2023, Details Safety Measures

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has taken down approximately 63,000 accounts in Nigeria involved in financial <a target="_blank" href="https://about.fb.com/news/2024/07/combating-financial-sextortion-scams-from-nigeria/" rel="noreferrer noopener">sexual extortion</a>, or sextortion, scams targeting <a target="_blank" href="https://www.benzinga.com/trading-ideas/24/07/39934253/how-metas-game-changing-ai-model-could-enhance-developer-freedom-propel-privacy-standards-and-surge" rel="noreferrer noopener">adult men in the United States</a>.
Financial sextortion, a crime without borders, has been fueled in recent years by the rise in activities of loosely organized cybercriminals known as &#8216;Yahoo Boys&#8217;, predominantly operating from Nigeria, specializing in various scam techniques, Meta said in a statement.
&#8220;We&#8217;ve banned Yahoo Boys under Meta&#8217;s&nbsp;Dangerous Organizations and Individuals policy&nbsp;— one of our strictest policies — which means we remove Yahoo Boys&#8217; accounts engaged in this criminal activity whenever we become aware of them,&#8221; the software giant said.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/39930463" rel="noreferrer noopener">Zuckerberg Says Sam Altman &#8216;Deserves A Lot Of Credit,&#8217; But Highlights The Irony In His Firm Named OpenAI Leading Closed AI Models</a>
The firm also removed around 7,200 assets, including 1,300 Facebook accounts, 200 Facebook Pages, and 5,700 Facebook Groups, also based in Nigeria, that were providing tips for conducting scams.&nbsp;
&#8220;We also recently announced that we&#8217;ve developed&nbsp;new signals to identify accounts that are&nbsp;potentially engaging in sextortion,&nbsp;and are taking steps to help prevent these accounts from finding and interacting with teens,&#8221; Meta said.
In recent years, the social media giant has faced increasing pressure from governments, including lawmakers in its home country of the United States, to address concerns about its executives allegedly disregarding evidence that its platforms harm children, reported Reuters.
Last week, Meta was fined $220 million by Nigeria&#8217;s competition watchdog.
The Federal Competition and Consumer Protection Commission (FCCPC) revealed that Meta violated local consumer, data protection, and privacy laws by sharing data on its social platforms without user consent, per a Reuters report.
Additionally, Meta was accused of abusing its market dominance with exploitative privacy policies and treating Nigerians differently compared to users in jurisdictions with similar regulations.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, META stock has gained over 60% in the past year. Investors can gain exposure to the stock via&nbsp;Direxion Daily META Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METU#NASDAQ">METU</a>) and&nbsp;Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: META shares closed lower by 5.61% to $461.27 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/39923398" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s X, Mark Zuckerberg-Owned Facebook, And TikTok Face Stricter Regulations As Malaysia And Singapore Tighten Oversight On Social Media To Combat Online Scams</a></li>
</ul>
Photo by DANIEL CONSTANTE on Shutterstock

Equities

Markets

METU

Meta Cracks Down On Nigerian 'Yahoo Boys' In Massive Sextortion Scam Purge, Bans 63K Accounts

As the COVID-19 pandemic faded away and people were less required to practice social distancing, <a href="https://www.benzinga.com/news/23/11/35994035/insta-worthy-workspaces-to-woo-back-remote-workers-social-media-users-tell-companies-to-please-just">bosses began demanding</a> that their employees return to the office (RTO) instead of performing their jobs at home.
This led to droves of workers who wanted to keep working from home to quit their jobs in what became known as the &#8220;Great Resignation,&#8221; but that&#8217;s what some bosses wanted them to do, <a href="https://www.bamboohr.com/resources/guides/return-to-office#executives-and-hr-admit-rto-is-meant-to-make-people-quit">according</a> to a survey by Bamboo HR.
The analysis revealed that 25% of vice presidents and executives and 18% of human resources professionals admit they hoped for &#8220;some voluntary turnover&#8221; during an RTO mandate, proving why they are actually &#8220;layoffs in disguise,&#8221; Bamboo HR said.
&#8220;Nearly two in five (37%) managers, directors and executives believe their organization enacted layoffs in the last year because fewer employees than they expected quit during their RTO,&#8221; the survey said.
Read Now: <a href="https://www.benzinga.com/news/23/09/35015655/why-metas-return-to-office-is-a-mess-from-sitting-on-floors-to-hot-desks-dilemma-and-pending-remote">Why Meta&#8217;s Return To Office Is A &#8216;Mess:&#8217; From Sitting On Floors To &#8216;Hot Desks&#8217; Dilemma, And Pending Remote Work Requests</a>
Whatever the intention ultimately is, some companies are instituting policies to bring employees back to the office.
Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), a San Francisco-based software company, is now pushing to bring the majority of its employees back into the office, the San Francisco Standard <a href="https://sfstandard.com/2024/07/17/salesforce-pressures-its-workers-back-to-the-office-as-layoffs-continue/">reported</a>.
Certain workers in sales, workplace services, data center engineering and&nbsp;onsite support technicians&nbsp;under the chief information officer will need to show up to the office four to five days a week, starting in October.
Salesforce&#8217;s other departments will be required to show up to the office three days a week through an &#8220;office-flex&#8221; arrangement, while certain engineering roles will need to come in only at least 10 days each quarter.
Salesforce notified employees of the RTO policy through a memo that also said the company will start tracking when employees scan their badges next month.
Salesforce said employees will have "full visibility" of this data, which will measure attendance against quarterly goals set by each team. 
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/23/12/36106919/amazons-rigid-return-to-office-policy-triggers-employee-exodus-report">Amazon&#8217;s Rigid Return-To-Office Policy Triggers Employee Exodus: Report</a></li>
</ul>
Photo: Shutterstock

Bosses Admit Using 'Return To Office' Mandate To Get Workers To Quit: Survey

Guidance

Celestica Raises FY24 Revenue Outlook To $9.45B From Previous Outlook Of $9.1B (Est $9.126B); Adjusted EPS To $3.62 From Prior $3.30 (Est $3.33)

Celestica Expects Q3 Revenue Of $2.325B - $2.475B (Est $2.29B), Adjusted EPS Of $0.86 - $0.96 (Est $0.82)

Celestica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) reported quarterly earnings of $0.91 per share which beat the analyst consensus estimate of $0.81 by 12.35 percent. This is a 65.45 percent increase over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $2.391 billion which beat the analyst consensus estimate of $2.249 billion by 6.31 percent. This is a 23.31 percent increase over sales of $1.939 billion the same period last year.

Earnings

Earnings Beats

Celestica Q2 2024 Adj EPS $0.91 Beats $0.81 Estimate, Sales $2.391B Beat $2.249B Estimate

Orion Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) reported quarterly losses of $(0.16) per share which missed the analyst consensus estimate of $(0.01) by 1500 percent. This is a 14.29 percent decrease over losses of $(0.14) per share from the same period last year. The company reported quarterly sales of $192.167 million which missed the analyst consensus estimate of $192.786 million by 0.32 percent. This is a 5.28 percent increase over sales of $182.534 million the same period last year.

Earnings Misses

Orion Gr Hldgs Q2 2024 Adj EPS $(0.16) Misses $(0.01) Estimate, Sales $192.167M Miss $192.786M Estimate

Mid Penn Bancorp Q2 2024 Sales $44.095M Beat $41.910M Estimate

General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) shares are trading lower after-hours Wednesday following Ford Motor Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39943178/ford-q2-earnings-highlights-revenue-beat-eps-miss-transit-vans-hit-record-ev-sales-fall-37">second-quarter earnings release.</a> 
The Details: Ford shares are dropping after the company reported quarterly earnings per share of 47 cents, missing a Street consensus estimate of 68 cents. Ford also reported a 37% drop in revenue from its Ford Model e segment year-over-year, which the company attributed to industry-wide pricing pressure and lower wholesales.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/07/39944467/viking-therapeutics-stock-climbs-on-q2-eps-beat">Viking Therapeutics Stock Climbs On Q2 EPS Beat</a>&nbsp;
GM shares are down slightly in sympathy with Ford during after-hours trading. General Motors reported strong <a href="https://www.benzinga.com/markets/equities/24/07/39913791/whats-going-on-with-general-motors-stock-today">second-quarter results</a> on Tuesday, beating Street estimates with sales growth of 7.2% year-over-year. GM also reported quarterly earnings of $3.06 per share, beating the analyst consensus estimate of $2.72. 
GM, F Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, General Motors shares are down 0.73% after-hours at $46.15 and Ford shares are down 10.24% at $12.27 at the time of publication Wednesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39865576/whats-going-on-with-rivian-stock">What&#8217;s Going On With Rivian Stock?</a></li>
</ul>
Image: Shutterstock

After-Hours Center

General Motors Stock Falls After Ford Reports Q2 Results: What's Going On?

CB Financial Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBFV#NASDAQ">CBFV</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.51 by 1.96 percent. This is a 5.45 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $12.158 million which missed the analyst consensus estimate of $12.300 million by 1.15 percent. This is a 9.19 percent decrease over sales of $13.389 million the same period last year.

CBFV

CB Financial Services Q2 2024 Adj EPS $0.52 Beats $0.51 Estimate, Sales $12.158M Miss $12.300M Estimate

The aggregate incremental backlog associated with these fixtures is approximately&nbsp;$656 million. As of July 24, 2024, the company&#39;s total backlog is approximately&nbsp;$8.8 billion.

Transocean Releases Quarterly Fleet Status Report; Reports Total Backlog Of $8.8B As Of July 24

NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) has outperformed the market over the past 5 years by 3.9% on an annualized basis producing an average annual return of 16.37%. Currently, NRG Energy has a market capitalization of $15.47 billion. 
Buying $100 In NRG: If an investor had bought $100 of NRG stock 5 years ago, it would be worth $215.11 today based on a price of $74.19 for NRG at the time of writing.
<h3>NRG Energy's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721856619_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning NRG Energy Stock In The Last 5 Years

ESRT

Empire State Realty Trust Reaffirms 2024 Core FFO Guidance Of Core $0.90 - $0.94, Est $0.92

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares are rising in Wednesday&#8217;s after-hours session after the National Basketball Association (NBA) announced a deal in which Prime Video will telecast <a href="https://www.benzinga.com/m-a/24/07/39900318/warner-bros-discoverys-tnt-sports-counters-amazon-with-1-9b-nba-broadcast-rights-bid-report">NBA games over the next decade</a>.
What Happened: The NBA <a href="https://www.nba.com/news/nba-media-agreements-2024">announced</a> a renewal of its partnership with Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), as well as new agreements with NBCUniversal and Amazon under which ABC/ESPN, NBC/Peacock and Prime Video will telecast NBA games beginning with the 2025-26 season. The deal is set to remain in place through the 2035-36 season.
&#8220;Our new global media agreements with Disney, NBCUniversal and Amazon will maximize the reach and accessibility of NBA games for fans in the United States and around the world," said NBA Commissioner Adam Silver.&nbsp; 
"These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade."
Check This Out: <a href="https://www.benzinga.com/general/entertainment/24/07/39915544/could-warner-bros-vs-amazon-battle-be-brewing-for-nba-rights-mark-cuban-shares-his-suggesti">Could Warner Bros. Vs. Amazon Battle Be Brewing For NBA Rights? Mark Cuban Shares His Suggestion</a>
Under the new deal, Amazon will distribute 66 NBA regular-season games on Prime Video each season. &nbsp;In addition, Prime Video is now set to stream the Championship Game of the Emirates NBA Cup.
Amazon&#8217;s Prime Video will also distribute all six NBA Play-In Tournament games and stream approximately one-third of the first and second rounds of the playoffs each year. Prime Video will also stream one of the two Conference Finals series in six of the 11 years on a rotating basis with NBCUniversal.
Amazon plans to distribute NBA games globally as part of Prime Video and offer an expanded package of games in select territories. The expanded package includes a minimum of 20 additional primetime regular season games each year, a Conference Finals series each year and the NBA Finals&nbsp;in six of the 11 years.
The NBA also announced that Amazon&#8217;s Prime Video will become a strategic partner of the NBA, making it the third-party global destination of NBA League Pass. 
AMZN Price Action: Amazon shares were up 0.42% after hours at $181.59 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shaheerrr from Shutterstock.

Sports

Global

Media

AMZN

Amazon Stock Jumps As NBA Signs Prime Video Broadcasting Deal: What You Need To Know

Mid Penn Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPB#NASDAQ">MPB</a>) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.60 by 13.33 percent. This is unchanged from the same period last year.

Mid Penn Bancorp Q2 2024 Adj EPS $0.68 Beats $0.60 Estimate

Core Laboratories Expects Q3 Revenue Of $131M - $137M (Est $135.11M), EPS Of $0.23 - $0.27 (Est $0.25)

QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) reported its second-quarter financial results Wednesday. Here's a <a href="https://www.benzinga.com/pressreleases/24/07/b39942492/quantumscape-reports-second-quarter-2024-business-and-financial-results">look at the details: </a>
The Details: QuantumScape reported GAAP quarterly losses of 25 cents per share which missed the analyst consensus estimate of losses of 23 cents by 8.7%.
The company reported capital expenditures in the second quarter were $18.9 million and primarily supported equipment purchases for low-volume QSE-5 prototype production, as well as the Cobra process and other equipment as the company prepares for higher-volume QSE-5 prototype production in 2025. 
QuantumScape ended the second quarter with $938 million in liquidity.
The company said its recent licensing deal with PowerCo offers a capital-efficient path to market and now projects its cash runway to extend into 2028. 
The extension of its cash runway forecast is mainly attributable to the avoidance of planned spend on its joint venture which frees up $134 million previously earmarked for our investment into the JV, prepayment of royalties contingent on satisfactory technical progress, inflows of development resources from our collaboration partner and improvements to capital and operational efficiency with respect to existing operations. 
Outlook: QuantumScape maintained its full-year 2024 guidance for Adjusted EBITDA loss to be between $250 million and $300 million and expects to be on the lower end of its capital expenditure guidance range of $70 million to $120 million.
Read Also: <a href="https://www.benzinga.com/24/07/39940684/whats-going-on-with-meta-stock">What&#8217;s Going On With Meta Stock?</a>
QS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, QuantumScape shares are down 5.09% after-hours at $7.08 after falling 7.2% during regular trading Wednesday.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39939280/whats-going-on-with-riot-platforms-stock">What&#8217;s Going On With Riot Platforms Stock?</a></li>
</ul>
Image: Courtesy of QuantumScape Corporation

QuantumScape Stock Falls On Q2 Results: Here's Why

Don't Bet Against Progress

TSLQ: Tesla May Face Headwinds, But Bears Should Seek Exposure Elsewhere

AXS TSLA Bear Daily ETF declares $3.901 dividend

ARKK

HDGE

ITOT

ONEQ

QQQM

SARK

SDOW

SOXS

SPDN

SPXS

SPXU

SPYV

SQQQ

TECS

UDOW

Fintech

Mutual Funds

Press Releases

AXS Investments Introduces Tradr ETFs and Rebrands SARK, TARK, TSLQ and NVDS

Tradr ETFs Announces Leverage Increase for SARK, TSLQ and NVDS

Tradr ETFs Announces Leverage Increases Now in Effect for SARK, TSLQ and NVDS

NVDS

TARK

Electric vehicle company Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been one of the top performing stocks of the last five and 10&nbsp;years. As the company faces increased competition in the electric vehicle space, investors have often bet against <a href="https://www.benzinga.com/quote/TSLA">the automaker</a>.

A handful of bearish ETFs for Tesla have popped up. Here&rsquo;s a look at how one has performed.

What Happened: In July, the AXS TSLA Bear ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLQ#NASDAQ">TSLQ</a>) <a href="https://www.benzinga.com/news/22/07/28086673/super-bearish-on-tesla-or-nvidia-new-inverse-leveraged-etfs-offer-investors-new-opportunities">launched from</a><a href="https://www.benzinga.com/news/22/07/28086673/super-bearish-on-tesla-or-nvidia-new-inverse-leveraged-etfs-offer-investors-new-opportunities"> </a><a href="https://www.benzinga.com/news/22/07/28086673/super-bearish-on-tesla-or-nvidia-new-inverse-leveraged-etfs-offer-investors-new-opportunities">AXS Investments</a>. The ETF offered investors the opportunity to be bearish on Tesla and utilize an ETF instead of shorting the stock themselves.

The ETF was one of several single stock and inverse ETFs that have entered the market in 2022.

&ldquo;We are thrilled to be the first firm to bring single-stock leveraged and inverse ETFs to U.S. investors,&rdquo; AXS Investments CEO Greg Bassuk said at the time.

&ldquo;ASX has once again opened new access for investors, namely to express their high-conviction on some of the most actively traded single stocks, regardless of whether their sentiment is bullish or bearish.&rdquo;

Along with the Tesla Bear ETF, AXS launched single stock ETFs for NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>).

AXS also previously filed to launch the AXS TSLA Bull Daily ETF, which was not part of its initial batch of single stock ETFs.

Along with AXS, other ETF companies have launched single stock and inverse ETFs to capitalize on investor demand to be particularly bullish or bearish on a specific stock or sector.

<a href="https://www.benzinga.com/news/22/08/28419707/super-bullish-or-bearish-on-tesla-or-apple-theres-new-etfs-for-you">Direxion launched the</a> Direxion Daily TSLA Bull 1.5X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLL#NASDAQ">TSLL</a>) and the Direxion Daily TSLA Bear 1X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLS#NASDAQ">TSLS</a>) in August.

Tesla shares are down over 50% year-to-date in 2022, turning potential short positions into winning trades. Here&rsquo;s a look at how the first Tesla single stock bear fund has performed since launching.

Related Link: <a href="https://www.benzinga.com/news/22/07/28278156/heatwave-in-shortville-is-elon-musk-taunting-tesla-short-sellers">Heatwave In Shortville, Is Elon Musk Taunting Tesla Short Sellers?&nbsp;</a>

Investing $1,000 In TSLQ: The AXS Tesla Bear Daily ETF launched on July 14 and opened for trading at $50.48.

A $1,000 investment could have bought 19.81 shares of TSLQ. The $1,000 investment would be worth $1,090.14 today based on a price of $55.03 for the ETF at the time of writing.

The $1,000 investment would be up 9% since July 14. This may not sound like much, but it comes at a time when an investment in Tesla shares would have been down.

The S&amp;P 500 Global ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, was up 6.7% in the same time period, showing that an investor would have had a better return betting against Tesla than investing in the overall market in the given time period.

Betting against Tesla in 2022 against a backdrop of&nbsp;challenging macro market conditions has been more of a winning idea. Betting against Tesla for the long run could be a riskier move, with the stock up 825% and 9,162% over the last five years and 10&nbsp;years, respectively.

If Tesla can continue its growth in electric vehicles and winning share in other sectors, shares could recover going forward.

Read Next:<a href="https://www.benzinga.com/news/22/10/29160947/want-to-bet-against-jim-cramer-new-inverse-etf-filed-by-the-man-who-took-on-cathie-wood"> Want To Bet Against Jim Cramer? New Inverse ETF Filed By The Man Who Took On Cathie Wood&nbsp;</a>

Photo courtesy of Tesla.

If You Invested $1,000 In The Tesla Bear Daily ETF At IPO, Here's How Much You'd Have Now

A leader in leveraged and inverse and thematic ETFs is launching new investment options for investors looking to place bets for or against two of the largest and most well-known companies in the world. Here are the details.

What Happened: Direxion is <a href="https://www.benzinga.com/pressreleases/22/08/n28417114/direxion-launches-first-apple-and-tesla-single-stock-leveraged-and-inverse-etf-pairs">launching </a>the first four of its single stock leveraged and inverse ETFs. The ETFs center on increased or inverse exposure to the daily performance of Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).

&ldquo;Our new single stock leveraged and inverse ETFs allow active traders to seek profit or hedge risk with conviction,&rdquo; said David Mazza, Direxion&#39;s managing director and head of product. &ldquo;The ability to trade a Bull or Bear fund for Apple and Tesla is an excellent way for traders to respond tactically to potentially company events and market sentiment.&rdquo;

The new ETFs are:

Direxion Daily AAPL Bull 1.5X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPU#NASDAQ">AAPU</a>)

Direxion Daily AAPL Bear 1X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPD#NASDAQ">AAPD</a>)

Direxion Daily TSLA Bull 1.5X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLL#NASDAQ">TSLL</a>)

Direxion Daily TSLA Bear 1X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLS#NASDAQ">TSLS</a>)

The new ETFs are considered higher on the risk scale and are meant for investors with an &ldquo;in-depth understanding of the risks associated with seeking leveraged investment results.&rdquo;

&ldquo;Direxion is excited to help meet the robust market demand for single stock leveraged ETFs from investors seeking returns that are 150% long exposure or -100% of the returns of Apple or Tesla for a single day,&rdquo; said&nbsp;Edward Egilinsky, Direxion&#39;s head of sales and distribution &amp;&nbsp;alternatives. &ldquo;This is the latest example of our firm&rsquo;s continued commitment to launching advanced trading tools for the active community.&rdquo;

Related Link:<a href="https://www.benzinga.com/news/22/07/28086673/super-bearish-on-tesla-or-nvidia-new-inverse-leveraged-etfs-offer-investors-new-opportunities"> Super Bearish On Tesla Or NVIDIA? New Inverse &amp; Leveraged ETFs Offer Investors New Opportunities&nbsp;</a>

Why It&rsquo;s Important: Direxion was founded in 1997 and has around $20.7 billion in assets under management. The new ETFs increase the company&rsquo;s coverage in the inverse and single stock sectors for investors.

The new ETFs from Direxion follow the recent <a href="https://www.benzinga.com/news/22/07/28086673/super-bearish-on-tesla-or-nvidia-new-inverse-leveraged-etfs-offer-investors-new-opportunities">launch </a>by AXS Investments of several leveraged and inverse daily ETFs. AXS Investments launched eight single stock ETFs recently.

They include the AXS TSLA Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLQ#NASDAQ">TSLQ</a>). The ETF generated many headlines and was a popular target of&nbsp;Tesla fans and investors, as the ETF has declined since launching.

AXS Investments also launched single stock ETFs related to NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), PayPal Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>).

AXS did not release single stock ETFs for Apple and launched a&nbsp;bear ETF only for Tesla, with a bull daily ETF pending. The new Direxion ETFs offer minimal overlap in that regard and could see strong investor interest.

Along with being two of the most valuable companies in the world, Tesla and Apple are also two of the most popular stocks for investors and traders.

Tesla has average daily trading volume of 31.1 million shares over the last 100 days. Apple&rsquo;s average trading volume is 86.4 million shares daily over the last 100 days.

The world&rsquo;s richest man, Elon Musk, has been known to share cryptic messages with his more than 100 million Twitter Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWTR#NYSE">TWTR</a>) followers. A recent post may be a dig at investors betting against electric vehicle company Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).

What Happened: On Friday night, Elon Musk <a href="https://twitter.com/elonmusk/status/1553170788454465536">tweeted </a>three simple words &ldquo;Heatwave in Shortville.&rdquo; The tweet also featured a hot face emoji. While the tweet came as temperatures hit 101 degrees in Austin, Texas, home of a Tesla Gigafactory and Musk, it likely didn&rsquo;t have anything to do with the weather.

Instead, the tweet likely refers to short sellers, or those betting against Tesla stock.

Sawyer Merritt, who frequently posts news about the electric vehicle industry <a href="https://twitter.com/SawyerMerritt/status/1553177487181488128">asked </a>in response if &ldquo;anyone checked on how Bill Gates is doing?&rdquo;

Bill Gates recently had a $500 million bet against Tesla stock.

Related Link:<a href="https://www.benzinga.com/news/22/04/26775590/leaked-chats-show-musk-confronted-bill-gates-about-shorting-tesla-heres-what-they-discussed"> Leaked Chats Show Musk Confronted Bill Gates About Shorting Tesla: Here&#39;s What They Discussed&nbsp;</a>

Why It&rsquo;s Important: The post by Musk comes as Tesla shares have seen positive momentum. Shares of Tesla are up 31% over the last month and up over 10% in the last five days.

On July 22, it was <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/07/28169648/tesla-short-sellers-take-1b-hit-short-squeeze-hell-could-be-coming">reported </a>that Tesla short sellers took a $1 billion hit and S3 Partners predicted a short squeeze could be coming for shares of the electric vehicle company.

The positive gains for Tesla stock in the last month came as AXS Investments launched a single stock inverse ETF that allows investors to bet against the performance of Tesla.

The AXS TSLA Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLQ#NASDAQ">TSLQ</a>) was <a href="https://www.benzinga.com/news/22/07/28086673/super-bearish-on-tesla-or-nvidia-new-inverse-leveraged-etfs-offer-investors-new-opportunities">launched </a>two weeks ago and is down 23% since launching.

Musk is not the only CEO taking on short sellers on Twitter. AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) CEO Adam Aron has <a href="https://www.benzinga.com/general/entertainment/22/06/27885699/choke-on-that-did-amc-ceo-adam-aron-and-a-message-to-short-sellers-help-shares-move-higher-">posted </a>several times about people betting against AMC and the movie theater sector while using the hashtag #ChokeonThat. Aron also suggested a short squeeze could be coming by <a href="https://www.benzinga.com/trading-ideas/long-ideas/22/07/27994041/wen-pounce-amc-entertainment-ceo-hints-at-crushing-short-sellers-heres-when-the-squeeze-">using the phrase</a> &ldquo;wen pounce&rdquo; in reference to AMC&rsquo;s upcoming earnings report.

TSLA Price Action: Tesla shares closed Friday at $891.45, up 6% on the day.

Photo: Created using images from&nbsp;<a href="https://www.flickr.com/photos/188027733@N06/" id="yui_3_16_0_1_1650497856885_638582" target="_blank" title="Go to Greg Rubenstein's photostream">Greg Rubenstein</a>&nbsp;and&nbsp;<a href="https://www.flickr.com/photos/tedconference/" id="yui_3_16_0_1_1650497856885_801791" target="_blank" title="Go to TED Conference's photostream">TED Conference</a>&nbsp;on Flickr&nbsp;

'Heatwave In Shortville': Is Elon Musk Taunting Bill Gates And Tesla Short Sellers?

New ETFs that offer investors the opportunity to be bullish or bearish on individual stocks hit the market this week. The new leveraged and inverse daily ETFs could be the first of many&nbsp;and could take on some of the largest companies in the world.

What Happened: The first eight single stock leveraged and inverse ETFs were <a href="https://www.prnewswire.com/news-releases/axs-investments-launches-first-ever-us-suite-of-single-stock-leveraged-bull-and-bear-etfs-301586789.html">launched </a>this week by <a href="https://www.axsinvestments.com/">AXS Investments</a>, a leading asset manager that seeks to provide alternative investments for growth and diversification.

&ldquo;We are thrilled to be the first firm to bring single-stock leveraged and inverse ETFs to U.S. investors,&rdquo; AXS Investments CEO Greg Bassuk. &ldquo;AXS has once again opened new access for investors, namely to express their high-conviction views on some of the most actively traded single stocks, regardless of whether their sentiment is bullish or bearish.&rdquo;

Here are the first eight single-stock ETFs that offer daily exposure based on a bull or bear case.

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): AXS TSLA Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLQ#NASDAQ">TSLQ</a>)

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): AXS 1.25X NVDA Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDS#NASDAQ">NVDS</a>)

PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>): AXS 1.5X PYPL Bull Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPT#NASDAQ">PYPT</a>), AXS 1.5X PYPL Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPS#NASDAQ">PYPS</a>)

Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>): AXS 2X NKE Bull Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKEL#NASDAQ">NKEL</a>), AXS 2X NKE Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKEQ#NASDAQ">NKEQ</a>)

Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>): AXS 2X PFE Bull Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFEL#NASDAQ">PFEL</a>), AXS 2X PFE Bear Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFES#NASDAQ">PFES</a>)

The funds seek to return 100% or more of the daily return of the stock, with 1.25X representing 125%, 1.5X representing 150% and 2X representing 200%.

AXS Investments previously <a href="https://www.sec.gov/Archives/edgar/data/1587982/000139834422002537/fp0072976_485apos.htm">filed </a>to launch inverse and leveraged ETFs in February for the names above and several others that have not been listed yet. The filings also included Boeing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), Salesforce&nbsp;Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NASDAQ">CRM</a>) and Wells Fargo &amp; Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).

An updated <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1587982/000139834422013174/fp0076980_485bpos-ixbrl.htm">filing </a>also shows the named funds of AXS TSLA Bull Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLU#NASDAQ">TSLU</a>) and AXS 1.25X NVDA Bull Daily ETF (NASDAQ:&nbsp;NVDB), which are not currently listed.

AXS Investments highlights that the ETFs are riskier due to using leverage and may not be appropriate for every investor. The funds may also be appropriate only for active investors due to the volatility of the stocks.

Related Link: <a href="https://www.benzinga.com/etfs/specialty-etfs/21/11/23994964/want-to-bet-against-cathie-wood-theres-a-new-etf-for-that">Want To Bet Against Cathie Wood? There&#39;s A New ETF For That&nbsp;</a>

Why It&rsquo;s Important: Inverse and leveraged ETFs have grown in popularity with investors being able to take advantage of being bullish or bearish on certain sectors or countries.

AXS Investments previously launched the AXS 2X Innovation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARK#NASDAQ">TARK</a>), which offers investors 2x daily exposure in a portfolio of innovative companies in the genomics, autonomous vehicles and internet sectors, mirroring the Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>).

AXS Investments also <a href="https://www.axsinvestments.com/news/axs-launches-axs-2x-innovation-etf-tark-and-axs-short-china-internet-etf-sweb/">offers </a>the AXS Short China Internet ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWEB#NASDAQ">SWEB</a>) featuring&nbsp;daily short exposure to China-based internet companies.

&ldquo;Our goal remains to be the leader in providing investors with access to the tools needed to build portfolios and to trade effectively in today&rsquo;s volatile markets,&rdquo; Bassuk said.

Bassuk added there&rsquo;s excitement for more items in the AXS Investments product pipeline &ldquo;for 2022 and beyond.&rdquo;

In February, Direxion also <a href="https://www.benzinga.com/news/22/02/25705320/want-to-bet-against-tesla-there-could-be-a-new-inverse-etf-for-traders">filed </a>for the Direxion Daily TSLA Bear 1X Shares, which would provide a bearish bet on Tesla shares for investors. Direxion currently offers several 3x leveraged ETFs allowing investors to bet on the bullish and bearish side for indexes like the Dow Jones Industrial Average and S&amp;P 500 and certain sectors.

In late 2021, Tuttle Capital launched the inverse ETF to the popular Cathie Wood-led Ark Innovation with the Tuttle Capital Short Innovation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SARK#NASDAQ">SARK</a>).

The Tuttle Capital Short Innovation ETF is up 87% since launching in November and up 59% year-to-date in 2022. Ark Innovation is down 55% in 2022.

Volume for the AXS Investments Tesla Bear Daily ETF was $6 million in its first day of trading <a href="https://twitter.com/EricBalchunas/status/1547669476723683330">according </a>to Bloomberg ETF Analyst Eric Balchunas. The other ETFs saw minimal volume on their first day of trading, which could impact the approval of other leveraged daily single stock ETFs.

There are <a href="https://twitter.com/EricBalchunas/status/1547251275506630656">around </a>80 single stock ETFs in the pipeline of the approval stage, including many targeting Tesla.

Photo:&nbsp;<a href="https://www.shutterstock.com/g/seread">Scott E Read</a>&nbsp;via Shutterstock

 
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SWEB

TSLU

Super Bearish On Tesla Or Nvidia? Inverse, Leveraged ETFs Offer Investors New Opportunities

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