WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS: WBAT)

Latest news for WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT)

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The Fund employs a passive management – or indexing – investment approach designed to track the performance of the Index. The Index is designed to provide exposure to equity securities of exchange-listed companies globally, which are primarily involved in the investment themes of Battery and Energy Storage Solutions (BESS) and Innovation.

State Street Navigator Securities Lending Government Money Market Portfolio

Rolls-Royce Holdings Plc

E.on Se Common Stock

BLOOM ENERGY CORP

Joby Aviation Inc

Mitsubishi Heavy Industries Ltd

Archer Aviation Inc-A

Wartsila Oyj Abp

Boeing Co

WisdomTree Battery Value Chain and Innovation Fund

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Hybrid electric vehicle adoption is reshaping demand for lithium, rare earths, copper, and aluminum. Investors should monitor ETFs like LIT, BATT, and CPER for potential opportunities and challenges.

Hybrid Vehicle Adoption: Key Implications For Lithium, Rare Earths, Copper And Aluminum Investors

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Ballard Power Systems secures purchase orders for hydrogen fuel cell engines from Wrightbus, amid broader market acceptance of fuel cell buses in Europe.

What&#39;s Going On With Ballard Power Systems Stock Tuesday?

WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund

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Nasdaq And valantic FSA Partner To Develop Web UI For Fixed Income Trading

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U.K. Unemployment Rate For May Unchanged At 4.4%

U.K. Employment Change 3M/3M (MoM) For May 19K Vs. 18K Est.; -140K Prior

U.K. Claimant Count Change For June 32.3K Vs. 23.4K Est.; 51.9K (Revised) Prior

U.K. Average Earnings Index +Bonus For May 5.7% Vs. 5.7% Est.; 5.9% Prior

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported quarterly earnings of $1.48 per share which beat the analyst consensus estimate of $1.40 by 5.71 percent. This is a 29.82 percent increase over earnings of $1.14 per share from the same period last year. The company reported quarterly sales of $20.820 billion which beat the analyst consensus estimate of $20.232 billion by 2.90 percent. This is a 32.78 percent increase over sales of $15.680 billion the same period last year.

Earnings

Earnings Beats

Taiwan Semiconductor Q2 2024 GAAP EPS $1.48 Beats $1.40 Estimate, Sales $20.820B Beat $20.232B Estimate

TSMC Second-Quarter Consolidated Revenue Of NT$673.51B (+40.1% YoY), Net Income Of NT$247.85B (+9.9% YoY), And EPS NT$9.56 ($1.48 Per ADR Unit)

Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has launched its AI image generation tool, Microsoft Designer, as a free iOS app, outpacing Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/07/39568584/apple-ai-partnership-with-google-set-for-fall-mark-gurman-says-hes-heard-from-several-sources-the-de">as the world waits for the</a> iPhone maker to introduce Apple Intelligence.
What Happened: Microsoft Designer is now available to all users across multiple platforms, including iOS, Android, and Windows. It was in preview for nearly a year and tested on a website using Microsoft Edge and other browsers.
&#8220;A blank canvas no longer has to be intimidating—just describe what you want to see, and Designer can create it for you. And if you're not sure what that is, Designer can help you get started,&#8221; the company said while launching.
The app enables users to <a href="https://www.benzinga.com/news/23/10/35409188/microsoft-bings-dall-e-3-powered-ai-image-generator-spins-1-8b-masterpieces-heres-how-to-use-it">generate images using text prompts</a> and provides templates for creating social media images and greeting cards. It also includes an avatar creation tool&nbsp;and options to edit existing&nbsp;images, including background and object removal or alteration.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="570" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-1024x570.webp" alt="" class="wp-image-442206" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-1024x570.webp 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-300x167.webp 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-768x428.webp 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-1536x855.webp 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Credit: Microsoft</figcaption></figure>
Although the app is free, it restricts users to 15 &#8220;boosts&#8221; per day, which are used&nbsp;when AI-based changes are made&nbsp;to images. Users can&nbsp;upgrade to a $20 Copilot&nbsp;Pro subscription for 100 boosts per day.
Why It Matters: The launch of Microsoft Designer comes ahead of the expected release of Apple Intelligence, Apple&#8217;s own generative AI image tool, slated for release this fall.
Earlier this year, Microsoft expressed concerns over an agreement between&nbsp;OpenAI and Apple, fearing it could impact <a href="https://www.benzinga.com/news/24/05/39109729/openais-apple-deal-sparks-concerns-in-microsoft-could-shift-ai-market-dynamics">Microsoft&#8217;s product ambitions</a>. In July, Microsoft decided to&nbsp;relinquish its <a href="https://www.benzinga.com/markets/equities/24/07/39703459/microsoft-relinquishes-observer-role-on-openais-board-says-it-is-confident-in-companys-direction">board observer position at OpenAI</a>.
Meanwhile, Wedbush Securities' Daniel Ives predicted a &#8220;monumental boost&#8221; to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39776594/microsofts-iphone-moment-wedbush-analyst-dan-ives-expects-ai-to-add-1-trillion-to-v">Microsoft's valuation due to the AI</a> revolution, potentially adding a whopping $1 trillion to its market cap.
Photo courtesy: Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39776594/microsofts-iphone-moment-wedbush-analyst-dan-ives-expects-ai-to-add-1-trillion-to-v?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s &#8216;iPhone Moment&#8217;? Wedbush Analyst Dan Ives Expects AI To Add $1 Trillion To Valuation</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

AAPL

MSFT

Microsoft Outpaces Apple, Introduces 'Designer' AI Image Generation Tool For The iPhone

Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) founder Charles Hoskinson waded into the debate around mixing politics with cryptocurrencies, unequivocally urging to vote for parties and leaders seen as friendly towards the industry.
What Happened: Co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Vitalik Buterin, raised eyebrows with his X post on Wednesday <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39825744/vitalik-vs-trump-donors-ethereum-co-founder-says-hes-against-choosing-your-political-alleg">that warned against preferring political leaders based on how supportive</a> they are to cryptocurrency.&nbsp;&nbsp;
In response, Hoskinson, who is also one of the original founders of the project, sharply differed with the view.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My first goal has always been to keep government out of crypto completely. In the places where that&#39;s not possible, the choice is pretty clear. If they want a CBDC, sue non-custodial wallets, systematically jail the leaders of Crypto, call everyone a security, and bully and… <a href="https://t.co/T7qZwPdJPA">https://t.co/T7qZwPdJPA</a>
&mdash; Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1813672240388747740?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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He advocated voting against parties and candidates who want to introduce Central Bank Digital Currencies, "systematically" jail top names within the cryptocurrency industry, and label all assets as securities.&nbsp;
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39830311/arthur-hayess-maelstrom-fund-unveils-grant-program-to-boost-bitcoin-development-as-loyal-f">Arthur Hayes&#8217;s Maelstrom Fund Unveils Grant Program To Boost Bitcoin Development: &#8216;As Loyal Followers Of Lord Satoshi, We Are Doing Our Part&#8217;</a>
No prizes for guessing, Hoskinson's dig was at the incumbent Joe Biden-led administration, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38841071/cardano-founder-charles-hoskinson-accuses-biden-administration-of-attempting-to-kill-crypt">whose policies he has severely criticized in the past</a>.
He ended his post by saying, "A vote for Biden is a vote for the death of the American crypto industry. In 2024, be a single issue. Vote for pro-crypto candidates."
Why It Matters: Hoskinson and Buterin have had a long-standing rivalry that dates back to disagreement over the long-term vision of Ethereum. <a href="https://www.benzinga.com/markets/cryptocurrency/22/02/25823645/5-things-you-might-not-know-about-charles-hoskinson-cardano-founder-and-ethereum-co-founde">Hoskinson left the project </a>in 2014 and went on to find Cardano as a competitor to Ethereum.
The two take occasional swipes at each other. In one instance, Hoskinson even indicated his willingness to take on Buterin in an MMA fight, saying, "I&#8217;d train very hard for that one.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;d train very hard for that one
&mdash; Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1761277742094651785?ref_src=twsrc%5Etfw">February 24, 2024</a></blockquote>
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In a previous <a href="https://www.reddit.com/r/cardano/comments/14x3aa9/ive_heard_hes_matured_vitalik_buterin_on_charles/">interview</a>, Buterin stated that &#8220;Charles has matured and progressed in a lot of ways,&#8221; and that he is very different from who he was in 2014.
Price Action: At the time of writing, Ethereum is exchanging hands at $3,419.25, down 2.51% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. ADA is trading at $0.4356, following a drop of 2.41%.
Photo by Dennis Diatel on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39830636/analysts-question-strategy-behind-high-fees-of-grayscale-ethereum-spot-etf-they-seem-focus">Analysts Question Strategy Behind High Fees Of Grayscale Ethereum Spot ETF: They Seem Focused On &#8216;Maximizing Short-Term Revenue Vs Playing Long Game&#8217;</a></li>
</ul>

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

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$ADA

$ETH

Ethereum Co-founder Charles Hoskinson Differs With Old Rival Vitalik Buterin On Mixing Crypto And Politics: 'A Vote For Biden Is A Vote For The Death Of The American Crypto Industry'

&nbsp;Braemar Hotels &amp; Resorts has closed on the previously announced sale of the Hilton La Jolla Torrey Pines for&nbsp;$165 million&nbsp;($419,000&nbsp;per key).&nbsp; Including anticipated capital expenditures of&nbsp;$40 million, the sale price represents a&nbsp;7.2%&nbsp;capitalization rate on net operating income for the trailing twelve months ended&nbsp;March 31, 2024.&nbsp; The Company continues to evaluate the sale of two more hotels, subject to market conditions, to be completed in 2024 and 2025, respectively.

Reported Earlier, Braemar Hotels & Resorts Sells Hilton La Jolla Torrey Pines For $165M

Elon Musk&#8216;s SpaceX said on Wednesday that it is now providing internet to about 400,000 customers <a href="https://www.benzinga.com/news/24/06/39371975/elon-musks-starlink-hardware-hits-the-shelves-at-walmart-target-home-depot-and-best-buy">in Canada</a> or about 3% of homes across the country.
What Happened: The company made the announcement via Starlink&#8217;s official X account. SpaceX CEO Elon Musk also reiterated the achievement. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Starlink now serving about (Canadian pronunciation) 3% of homes in Canada! <a href="https://t.co/JpnQMswRHj">https://t.co/JpnQMswRHj</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1813704394980180449?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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In Canada, standard Starlink hardware is currently priced at C$199 ($145), discounted from its original C$499 price. Service, meanwhile, is priced at C$140/ month ($102/ month). The pricing in Canada is significantly lower than in the U.S. where hardware is priced at $299 after discount and service is priced at $120/ month. 
Starlink is the satellite internet segment of Musk&#8217;s SpaceX. The company intends to provide global connectivity using a Starlink satellite network in Earth&#8217;s low-Earth orbit.
Globally, Starlink currently connects over 3 million people to the internet across 100 countries, territories, and many other markets. 
The segment achieved a&nbsp;<a href="https://www.benzinga.com/news/23/11/35583773/spacex-ceo-elon-musk-says-starlink-business-has-achieved-breakeven-cash-flow-is-an-ipo-on-the-cards" target="_blank" rel="noreferrer noopener">breakeven cash flow</a>&nbsp;in November.
Why It Matters: According to a study by astronomer&nbsp;Jonathan McDowell, SpaceX has launched over 6,700 Starlink satellites to date, of which over 5,900 are in operational orbit.
Last week, SpaceX launched its Falcon 9 launch vehicle with 20 Starlink satellites from California which were deployed in a <a href="https://www.benzinga.com/news/24/07/39745318/elon-musks-spacex-fails-to-deploy-starlink-satellites-in-intended-orbit-owing-to-a-rocket-engine-iss" target="_blank" rel="noreferrer noopener">lower-than-expected orbit</a> owing to an issue with the rocket's second-stage engine. Though the company subsequently tried to contact the satellites to raise their orbits, the attempts failed. The satellites will now re-enter Earth's atmosphere and &#8220;fully demise,&#8221; SpaceX informed on Friday.
Space X said it would <a href="https://www.benzinga.com/news/24/07/39766325/starlink-satellites-from-thursdays-launch-will-fully-demise-in-earths-atmosphere-says-elon-musks-spa">perform a full investigation</a> in coordination with the Federal Aviation Administration (FAA) to determine the cause of the incident and take corrective measures in the future.
SpaceX has not launched any other mission since then. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39811684/tesla-files-trademark-applications-for-cyberberry-and-supercharged-gummies-years-after-ceo-elon-musk">Tesla Files Trademark Applications For Cyberberry And Supercharged Gummies, Years After CEO Elon Musk Teased Making His Own Candy Company</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Elon Musk's SpaceX Announces Starlink Now Connects 400K Canadians Or 3% Homes In The Country

<ul>
<li>Vertical&#39;s most advanced full-scale prototype is key step towards certification of aircraft.</li>
<li>60%&nbsp;of this prototype&#39;s technology is from Vertical&#39;s strategic aerospace partners GKN Aerospace, Hanwha, Honeywell, Leonardo, Molicel, Syensqo.</li>
<li>First use of Vertical&#39;s powerful proprietary battery technology, designed and built in the Vertical Energy Centre, with rapid charging and capable of cruise speeds of up to 150mph.</li>
<li>Vertical will shortly begin a robust flight test programme, once the UK Civil Aviation Authority (CAA) has issued its Permit to Fly.</li>
</ul>

EVTL

Reported Earlier, Vertical Aerospace Reveals Enhanced VX4 Prototype, Prepares For Rigorous Flight Testing

Fomento Economico Mexicano S.A.B. De C.V.

Reported Earlier, Mill Point Capital Acquires FEMSA's Imbera And Torrey, Forming AeriTek Global LLC

Guidance

Novartis Now Expects 2024 Net Sales To Grow High Single To Low Double-Digit And Core Operating Income To Grow Mid- To High Teens (Prior Low Double-Digit To Mid-Teens)

Novartis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) reported quarterly earnings of $1.97 per share which beat the analyst consensus estimate of $1.89 by 4.23 percent. This is a 16.57 percent increase over earnings of $1.69 per share from the same period last year. The company reported quarterly sales of $12.512 billion which beat the analyst consensus estimate of $12.375 billion by 1.11 percent. This is a 9.40 percent increase over sales of $11.437 billion the same period last year.

Novartis Q2 2024 Adj EPS $1.97 Beats $1.89 Estimate, Sales $12.512B Beat $12.375B Estimate

Eric Balchunas, a renowned financial analyst, recently expressed skepticism about the potential success of Grayscale&#8217;s Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETF due to its high fee structure.
What Happened: Grayscale submitted updated S-1 filings with the SEC Wednesday, revealing the all-important information about the fund management fee. The digital asset management giant will charge 2.5% for its Grayscale Ethereum Trust, significantly higher than its competitors. A miniature version of the fund, Grayscale Ethereum Mini Trust, will however charge 0.25%. 
Balchunas questioned these moves, asking whether the 0.25% fee would be low enough to attract sufficient organic flows to offset what he referred to as &#8220;The Big Unlock&#8221;.
He further speculated on the ability of new entrants to the market to counterbalance the predicted outflows due to the flagship version&#8217;s high fees, drawing a parallel with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). &#8220;Anyway short story is the 2.5% fee made path to a decent net flow number a little harder,&#8221; Balchunas feared.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cheap but not sure cheap enough to move the needle (as most are cheaper and brand name BlackRock is same fee) to attract organic flows to offset The Big Unlock. And do these newborns have enough strength to offset those outflows a la btc. Anyway short story is the 2.5% fee made… <a href="https://t.co/0sH0tXrjtL">https://t.co/0sH0tXrjtL</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1813696205295145274?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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Another well-known ETF expert, Nate Geraci, called this a &#8220;huge miss&#8221; by Grayscale, indicating that the mini trust should have been priced much lower. &#8220;Entire pricing strategy around both spot BTC &amp; ETH ETFs seems focused on maximizing short-term revenue vs playing long game,&#8221; Geraci stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Btw, think this is &#x2A;huge&#x2A; miss by Grayscale… If you're gonna charge &#x2A;2.5%&#x2A; on ETHE, need to undercut market w/ mini trust. Disappointing. Entire pricing strategy around both spot btc &amp; eth ETFs seems focused on maximizing short-term revenue vs playing long game. <a href="https://t.co/8DE1UIlCIo">https://t.co/8DE1UIlCIo</a>
&mdash; Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1813698463403765780?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39822573/mark-cuban-trumps-re-election-wont-directly-impact-bitcoins-price">Mark Cuban: Trump&#8217;s Re-Election Won&#8217;t Directly Impact Bitcoin&#8217;s Price</a>
Why It Matters: These criticisms come even as other funds, including the one by BlackRock, are <a href="https://x.com/JSeyff/status/1813693107214717181">priced much lower</a>. The ishares Ethereum Trust will charge 0.25%, and so will the ETFs by Fidelity and Invesco.
Grayscale, which already operates the Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), faced significant outflows pressure after launch due to its 1.5% fees, highest among all spot Bitcoin ETFs. Since launch, it has recorded net outflows of $18.69 billion as of this writing, <a href="https://sosovalue.xyz/assets/etf/us-btc-spot">according </a>to SoSo Value.
Grayscale&#8217;s flagship Ethereum Trust, along with the mini Trust, are <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39784783/ethereum-spot-etfs-likely-to-start-trading-by-july-23-provided-no-unforeseeable-last-min-i">expected to go live for trading</a> by July 23.
Price Action: At the time of writing, Ethereum was exchanging hands at $3,423.79, down 1.55% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Illustration via Shutterstock.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39829658/odds-of-biden-dropping-out-of-race-surge-to-66-pollster-nate-silver-joins-crypto-based-pre">Odds of Biden Dropping Out Of Race Surge To 66% — Pollster Nate Silver Joins Crypto-Based Prediction Market Polymarket</a></li>
</ul>

$BTC

GBTC

Analysts Question Strategy Behind High Fees Of Grayscale Ethereum Spot ETF: They Seem Focused On 'Maximizing Short-Term Revenue Vs Playing Long Game'

Nokia&#39;s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion and 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%.

Nokia 2024 Outlook Unchanged, Expects Comparable Operating Profit Of €2.3B-€2.9B And Free Cash Flow Conversion From Comparable Operating Profit Of 30%-60%

Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) reported quarterly adjusted&nbsp;earnings of $0.06 per share which beat the analyst consensus estimate of $0.05 by 29.2 percent. This is a 15 percent decrease over earnings of $0.08 per share from the same period last year. The company reported quarterly sales of $4.81 billion which missed the analyst consensus estimate of $5.26 billion by 8.59 percent. This is a 22.70 percent decrease over sales of $6.22 billion the same period last year.

Nokia Q2 Adj. EPS $0.06 Beats $0.05 Estimate, Sales $4.81B Miss $5.26B Estimate

Cathie Wood, the CEO of ARK Invest, has predicted a potential shift in the equity market, favoring small-cap stocks over large-cap tech companies. This forecast is based on the current &#8220;restrictive&#8221; monetary policy of the Federal Reserve, as outlined in a recent investor letter on Wednesday.
What Happened: Wood highlighted the potential impact of the Fed&#8217;s current policy, which is aimed at curbing inflation following the COVID-19 crisis. She pointed out that previous instances of market concentration, such as in 1973 and 2000, were followed by significant market downturns. 
In contrast, periods of broader market concentration, such as in 1932, 1964, and 2009, signaled the beginning of broader-based equity bull markets.
Wood suggested that the current risk is a result of the Fed&#8217;s &#8220;restrictive&#8221; policy, which is in stark contrast to the &#8220;easing&#8221; policy of 1973 and 2000. She believes that this could create an opportunity for smaller-cap stocks to outperform the mega caps currently dominated by the &#8220;Magnificent Six.&#8221;
Wood wrote, &#8220;In our view, having already paid dues with tight money and higher interest rates in this cycle, the next few years could prove fertile for the broad swath of the equity market beyond the Magnificent Six. As inflation and interest rates continue to unwind during the next few years, smaller-cap stocks should have much more compelling upside potential relative to the mega caps now dominated by the Magnificent Six.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39781712/bitcoin-ethereum-dogecoin-continue-their-green-streak-but-big-test-could-come-on-a-60k-ret?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Continue Their Green Streak, But &#8216;Big Test&#8217; Could Come On A $60K Retest</a>
Top U.S. tech companies renowned for their advancements in AI have been pivotal in driving stock market growth. These companies include the &#8220;Magnificent Seven&#8221; — Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Google&#8217;s parent company Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>).
Last week, Wood <a href="https://www.benzinga.com/markets/equities/24/07/39725875/cathie-wood-touts-palantir-coinbase-and-roku-as-arks-flagship-fund-shifts-focus-from-mag-6-amid-">acknowledged</a> that the company's flagship fund ARK Innovation ETF&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) performance has been impacted by the shift in focus from the "Magnificent Six" to multiomics stocks, which have been adversely affected by the prospect of prolonged high interest rates.
Why It Matters: This prediction by Wood aligns with a recent surge in small-cap stocks. Market strategist Tom Lee noted that small-caps have been on a tear since Federal Reserve Chair Jerome Powell&#8216;s Congressional testimony, and the rally in the space is only getting started. Lee <a href="https://www.benzinga.com/markets/equities/24/07/39786725/market-strategist-breaks-down-bull-case-scenario-for-small-caps-predicts-40-jump-in-near-term-i-">predicted a 40% jump in the near term</a> for small-caps.
Wood&#8217;s prediction also comes in the <a href="https://www.benzinga.com/news/24/07/39807403/tesla-stock-could-shoot-up-10-times-due-to-robotaxis-says-cathie-wood-the-biggest-ai-project-evolvin">wake of her optimistic outlook</a> for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), where she suggested that the company&#8217;s stock could see a significant surge as it moves into the autonomous taxi business, potentially capturing up to 50% of the autonomous taxi market.
Meanwhile, CNBC&#8217;s "Mad Money"&nbsp;host Jim Cramer&nbsp;<a href="https://www.benzinga.com/markets/equities/24/07/39588207/jim-cramer-has-a-market-strategy-interest-rates-up-buy-mag-7-rates-down-buy-everything" target="_blank" rel="noreferrer noopener">advised investors to consider buying the ‘Mag 7' stocks</a>&nbsp;when interest rates rise and to buy everything when rates fall, indicating a potential market strategy shift.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39815808/elon-musk-claps-back-after-gavin-newsom-shares-donald-trumps-drop-to-your-knees-and-beg-post-abo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Claps Back After Gavin Newsom Shares Donald Trump&#8217;s &#8216;Drop To Your Knees And Beg&#8217; Post About Tesla CEO From 2022: &#8216;You Never Get Off Your Knees&#8217;</a></li>
</ul>
Image Via WEF on Flickr
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Federal Reserve

AMZN

ARKK

GOOG

GOOGL

NVDA

TSLA

Why Cathie Wood Is Betting On Small-Cap Stocks Triumphing Over 'Magnificent Six' Amid Restrictive Fed Policy

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Mining set to rise for lithium, cobalt, nickel, aluminum and other metals – IHS Markit

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Many investors are focusing their metals and mining focus on gold and silver in 2024. And <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> took a beating in 2023 which continues into 2024. However, this may be a time to look for lithium stocks to buy on the dip.&nbsp;



Primarily, lithium is a core metal needed for the ongoing transition to electric vehicles (EVs). But it&rsquo;s also going to be needed for many current and next-gen applications, including flying cars and smartphones. &nbsp;



Investing in commodities is not for risk-averse investors. Oversupply crushed the lithium market, and miners are cutting back. But this <a href="https://www.morningstar.com/news/marketwatch/20230920269/lithium-supply-may-tighten-in-the-years-ahead-driving-prices-higher-along-with-it" target="_blank">tightening of the lithium supply</a> is likely to provide a boost to lithium prices. EV makers, for example, can get through their inventory glut. &nbsp;



Even if turnaround time in lithium prices doesn&rsquo;t happen soon, many lithium stocks to buy on the dip are trading near 52-week lows. And some pay a dividend which can help protect your investment if the market moves against you. &nbsp;



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>You can&rsquo;t blame investors for wanting to throw in the towel on Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>). At several points in 2023 and 2024, investors may have chosen to get involved, thinking the bottom was in, only to see it fall further. &nbsp;



The good news is that in the last six months, ALB stock looks to have found a floor. The bad news is that it continues to trade at or near that floor. It&rsquo;s a stock that&rsquo;s in need of a catalyst. &nbsp;



Albemarle won&rsquo;t report earnings until May 1, 2024. However, analysts have been upgrading and/or <a href="https://investorplace.com/2024/04/wall-street-favorites-3-lithium-stocks-with-strong-buy-ratings-for-april-2024/" target="_blank">boosting their price targets</a> for the stock in April. Bank of America (NYSE:<a href="https://investorplace.com/stock-quotes/bac-stock-quote/">BAC</a>) upgraded the stock to a buy while increasing the price target from $137 to $156. Wells Fargo (NYSE:<a href="https://investorplace.com/stock-quotes/wfc-stock-quote/">WFC</a>) retained its buy rating on ALB stock while raising its price target to $145 from $135. &nbsp;



<h2>Frontier Lithium (LITOF)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>For investors with more appetite for risk, Frontier Lithium (OTCMKTS:<a href="https://investorplace.com/stock-quotes/litof-stock-quote/">LITOF</a>) is an attractive choice. As of this writing, Frontier Lithium is a penny stock&#x2A; at just 57 cents. The company&rsquo;s goal is to be the first fully integrated lithium operation in Ontario. &nbsp;



One important fact for investors to consider is that Frontier Lithium is still a pre-production company that isn&rsquo;t expected to begin production of any sort at its <a href="https://www.frontierlithium.com/_files/ugd/dec7de_99bda7b89f0e44bea74e272f967144d9.pdf" target="_blank">PAK Lithium Project until 2027</a>. And, Frontier won&rsquo;t begin lithium chemical production until 2029. &nbsp;



However, the company has a <a href="https://mailchi.mp/frontierlithium/jv0324" target="_blank">joint venture partnership with Mitsubishi</a> that will help ensure the PAK Lithium Project is funded until production starts. Initially, Mitsubishi will have a 5% stake in the project, which could grow as high as 25%.&nbsp;



<h2>WisdomTree Battery Value Chain and Innovation Fund (WBAT)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/etf-up-arrow-300x169.jpg" alt="graphic of the phrase ETF sitting on a computer in front of an increasing line graph on top of a bar graph. Best Funds for Aggressive Investors. Best Growth ETFs"><div>Source: Shutterstock</div></div>The WisdomTree Battery Value Chain and Innovation Fund (NYSEARCA:<a href="https://investorplace.com/stock-quotes/wbat-stock-quote/">WBAT</a>) is a choice for investors looking to get exposure to lithium without picking one or more individual stocks. This is a relatively new exchange-traded fund that launched in February 2022. &nbsp;



The fund invests nearly equally in China, the U.S. and Japan, with about 16% of the fund&rsquo;s geographic exposure concentrated in those three countries. As you can see from the name of the fund, it is not a pure-play lithium ETF. You will get exposure to other sectors, including electric vertical take-off and landing (eVTOL) companies (i.e. flying cars) and <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">hydrogen stocks</a>.&nbsp;



That may make the fund too broad for some investors. However, the fund is down 10.68% in 2024, which is better (or less bad) than other ETFs that have a heavier lithium focus. The WBAT fund has $4.08 billion of assets under management (AUM) and carries a 2.63% dividend yield.&nbsp;



&#x2A;On <a href="https://investorplace.com/stock-types/penny-stocks/">Penny Stocks</a> and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&nbsp;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">How to Profit Without Getting Scammed</a>



On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"> Publishing Guidelines</a>.&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-lithium-stocks-to-buy-on-the-dip-april-2024/">3 Lithium Stocks to Buy on the Dip: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Lithium Stocks to Buy on the Dip: April 2024

CHGI

CHII

CHIM

CHRG

CYLYF

FCSMF

FGPHF

GMET

GPHOF

JOBY

LITOF

LITP

MCHI

NGPHF

PICK

SETM

SRHYY

SYAAF

The growing trend of hybrid electric vehicle (HEV) adoption is poised to reshape the landscape for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39063832/as-ev-adoption-stalls-due-to-chicken-and-the-egg-situation-hybrids-race-ahead">essential raw materials</a>.



Bill Peterson from JPMorgan outlines how this shift impacts the demand for lithium, rare earths, copper and aluminum.



For investors, this shift comes with significant implications in related ETFs such as the Global X Lithium &amp; Battery Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIT#NYSE">LIT</a>), Amplify Lithium &amp; Battery Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATT#NYSE">BATT</a>), WisdomTree Battery Value Chain and Innovation Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBAT#NYSE">WBAT</a>) and the United States Copper Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPER#NYSE">CPER</a>).



<h3 class="wp-block-heading">Lithium and Rare Earths: Balancing Act</h3>



The demand for lithium and rare earths is projected to decline due to lower battery electric vehicle (BEV) sales. BEVs traditionally contain a higher content of these materials. 



While HEVs and plug-in hybrid electric vehicles (PHEVs) are set to increase, their cumulative demand for lithium and rare earths won&#8217;t fully offset the drop from BEVs.



Related: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39063832/as-ev-adoption-stalls-due-to-chicken-and-the-egg-situation-hybrids-race-ahead">As EV Adoption Stalls Due To &#8216;Chicken And The Egg&#8217; Situation, Hybrids Race Ahead</a>



This nuanced demand scenario should be closely monitored by investors in Lithium Americas Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>), Piedmont Lithium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) and MP Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>). 



These companies remain crucial due to the limited domestic supply sources in the US and the prioritization of IRA-qualified materials.



ETFs such as LIT, BATT and WBAT are also sensitive to changes in lithium and rare earth market dynamics.



Investors in these companies and related ETFs should note the strategic value and geopolitical factors at play, which could sustain their market positions despite shifting demand forecasts.



<h3 class="wp-block-heading">Copper: A Shining Opportunity</h3>



Contrary to the trend in lithium and rare earths, copper demand is expected to rise due to higher HEV and PHEV sales. 



While these vehicles use less copper per unit compared to BEVs, their increasing numbers will result in a net demand increase.



Investors in the United States Copper Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPER#NYSE">CPER</a>) should find this particularly relevant, as copper&#8217;s uplift in demand could positively influence market prices and the fund&#8217;s performance.



Aluminum demand is unlikely to see significant long-term changes. 



However, potential short-term supply and demand fluctuations could arise if hybrid vehicle trends evolve as projected. This stability is noteworthy for those considering investments in broader commodity ETFs and funds that include aluminum exposure.



<h3 class="wp-block-heading">Investor Implications</h3>



For investors in ETFs such as LIT, BATT, WBAT and CPER, the evolving hybrid vehicle market presents both challenges and opportunities. Monitoring the demand trends for these critical metals and adjusting portfolios accordingly could enhance investment strategies and returns.



As hybrid vehicles gain traction, the demand dynamics for lithium, rare earths, copper and aluminum are set to shift. Copper stands out with a positive demand outlook, while lithium and rare earths face a more complex scenario.



Strategic domestic suppliers such as Lithium Americas, Piedmont Lithium Inc and MP Materials Corp are well-positioned despite these shifts, offering potential stability for investors.



Read Next: <a href="https://www.benzinga.com/etfs/sector-etfs/24/02/37203815/ev-battery-metal-market-faces-downturn-as-prices-plummet-whats-next-for-the-industry">EV Battery Metal Market Faces Downturn As Prices Plummet: What&#8217;s Next For The Industry?</a>

Ballard Power Systems, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>



Ballard revealed several purchase orders for 70 FCmove-HD hydrogen fuel cell engines from Wrightbus, a U.K.-based bus manufacturer, for hydrogen-powered<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38268628/ballard-announces-orders-for-70-hydrogen-fuel-cell-engines-for-delivery-to-wrightbus-in-2024" rel="noreferrer noopener">&nbsp;buses in the U.K. and Europe</a>.



&#8220;We are pleased to strengthen our relationship with Wrightbus and support their deployment of an increasing volume of hydrogen-powered transit buses across the UK and Europe,&#8221; said Oben Uluc, Vice President, Sales &amp; Marketing, EMEA.&nbsp;



Ballard expects delivery of the fuel cell engines to occur in 2024, and the buses to enter into service in 2025.&nbsp;



The hydrogen fuel cell engines will power single- and double-decker buses in the U.K. and Germany.



&#8220;We are seeing broader market acceptance of fuel cell buses by European transit operators seeking to decarbonize their operations with a technology approach that enables long range, fast refueling, and scalable refueling infrastructure,&#8221; Uluc added.&nbsp;



According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, BLDP stock has lost over 45% in the past year. Investors can gain exposure to the stock via&nbsp;WisdomTree Trust WisdomTree Battery Value Chain And Innovation Fund&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/WBAT#BATS">WBAT</a>).



Earlier this month, the company disclosed winning&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38020465/ballard-announces-largest-order-in-company-history-1-000-engines-to-power-solaris-buses-across-eur" rel="noreferrer noopener">the largest order of fuel cell engines in its history</a>.



Notably, the company inked a Long Term Supply Agreement (LTSA) with its customer&nbsp;Solaris Bus &amp; Coach sp. z o.o.&nbsp;for supplying 1,000 hydrogen fuel cell engines through 2027 for the European transit bus market.



The LTSA consolidates existing orders for around 300 fuel cell engines, with a new supply commitment for an incremental around 700 fuel cell engines and related after-market extended warranty services.&nbsp;



Price Action: BLDP shares are trading lower by 1.61% to $2.74 on the last check Tuesday.

What's Going On With Ballard Power Systems Stock Tuesday?

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