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The liquidity crisis engulfing Chinese property developer China Evergrande Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EGRNY#OTC">EGRNY</a>) has had a domino effect.

A sell-off that began in the property space in China spread to the broader market in the country and has pervaded into the <a href=" https://www.benzinga.com/news/21/09/23004497/alibaba-jd-tencent-and-nio-rivals-xpeng-li-auto-all-tumble-as-hang-seng-index-crashes-amid-evergrand"> rest of the global markets </a> as well.

LPL Doesn&#39;t See Lehman All Over Again: Fears of a <a href="https://www.benzinga.com/news/earnings/21/09/23013883/ripple-effect-pressuring-global-stock-markets"> contagion </a> have triggered a systemic risk scenario, similar to what the now-defunct Lehman brothers went through about 13 years ago, said LPL Financial&#39;s chief market strategist Ryan Detrick.

With more than $300 billion in liabilities and only $15 billion in cash on hand, Evergrande is the world&#39;s most indebted real estate developer, the analyst noted. It appears that the company won&#39;t be able to pay $84 billion of interest due along with potentially missing a principal payment on at least one of its loans, the analyst said, citing Bloomberg.

With the Chinese government showing no inclination to bailout the company, it has now turned its attention to banks and other creditors to help the impact of a default, Detrick said.

Last week, Evergrande suspended trading of its onshore corporate bonds, taking it one step closer to restructuring or default, the analyst said.&nbsp;

Related Link: <a href="https://www.benzinga.com/government/21/07/21814835/poll-most-voters-believe-price-increase-related-to-temporary-bottlenecks-not-government-spending">Poll: Most Voters Believe Price Increase Related To Temporary Bottlenecks, Not Government Spending</a>

Despite the surrounding gloom around Evergrande, Detrick does not see the company as a Chinese version of Lehman.

Most of Evergrande&#39;s debt is in global mutual funds, ETFs&nbsp;and some Chinese companies, and not banks or other important financial institutions, Detrick said.

This is in contrast to Lehman, which was held on nearly all other financial institutions&#39; books, so not nearly as many institutions will be impacted by this versus Lehman, he added.

Secondly, the odds of the Chinese communist government getting involved&nbsp;should there be a default are&nbsp;is high, Detrick said. Finally, Evergrande has tangible assets that can be sold off to settle financial obligations as opposed to Lehman, which didn&#39;t have hard assets it could sell off, he said.&nbsp;

&quot;Short-term funding markets are acting just fine in China thus far; remember, it was the money markets in the U.S. that first started to show cracks in the system in early 2008, well before the wheels fell off,&quot; Detrick said.

Navellier Calls Out China Recession: Evergrande&#39;s contagion fears are not expected to spread to the U.S., but China is now dangerously close to slipping into a recession, Louis Navellier, chairman and founder of Nevallier &amp; Associates, said in a note.

&quot;China&#39;s junk bond market started to falter a few weeks ago, and heavily leveraged Evergrande is just the latest &#39;crack&#39;&nbsp;as Chinese financial companies start to deleverage,&quot; the fund manager said.

Under no circumstances will Evergrande adversely impact the U.S. economy, the fund manager said.

&quot;If anything, China&#39;s debt woes will just make more money flow into the U.S. as an oasis in a chaotic world,&quot; Navellier said.

Related Link: <a href="https://www.benzinga.com/news/earnings/21/08/22739974/as-recovery-accelerates-employment-focus-becomes-sharper"> As Recovery Accelerates, Employment Focus Becomes Sharper </a>

EGRNY

Will Evergrande's Liquidity Woes Morph Into Lehman-Like Collapse?

After last week&rsquo;s stock market weakness, a deep dip on Monday may have finally created the buying opportunity many long-term investors have been waiting for for months.

Lindsey Bell, Chief Investment Strategist for Ally Invest, says&nbsp;investors need to stay calm and trust in the long-term performance of the S&amp;P 500.

Volatility Spike: Bell said <a href="https://www.benzinga.com/trading-ideas/long-ideas/21/09/23013616/the-spy-impending-market-crash-or-buy-the-dip-opportunity">days like Monday</a> often feel scarier than they really are. It may take a while for the stock market to digest the <a href="https://www.benzinga.com/news/21/09/23004497/alibaba-jd-tencent-and-nio-rivals-xpeng-li-auto-all-tumble-as-hang-seng-index-crashes-amid-evergrand">Evergrande situation</a>, which has created a climate of fear in the markets for now.

In fact, the VIX &ldquo;fear index&rdquo; hit its highest level since May on Monday, and the ProShares Ultra VIX Short Term Futures ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/UVXY#BATS">UVXY</a>) jumped 25.8% in mid-day trading.

Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/21/09/22991587/best-way-to-buy-the-stock-market-dip-dollar-cost-averaging-or-going-all-in">Best Way To Buy The Stock Market Dip: Dollar Cost Averaging Or Going All-In?</a> 

Bell said the key for long-term investors on days like Monday is to keep perspective. The stock market has rallied more than 35% since November 2020 without even one pullback of at least 5%, she said. Historically, the&nbsp;S&amp;P 500&nbsp;has averaged two 5% pullbacks per year going all the way back to 1950. Even if the S&amp;P 500 pulls back 10% from Friday&rsquo;s close, it would still be up overall 6% year-to-date.

How To Play It: For now, Bell said the most near-term volatility will likely be in emerging market stocks and banks tied to Evergrande. But she said there&rsquo;s no reason for long-term investors to get too trigger-happy.

&ldquo;If you&rsquo;re worried about a bigger selloff on this side of the pond, think about picking up some defensive stocks or hedges. But oftentimes, sitting tight and doing nothing is best if you are in it for the long haul,&rdquo; Bell said.

Benzinga&rsquo;s Take: News items like Evergrande may seem like major market events, but even investors who bought the dip when Bear Stearns and Lehman Brothers went bankrupt in 2008 have made huge returns on their investments at this point.

Photo:&nbsp;<a href="https://www.pexels.com/@olly?utm_content=attributionCopyText&amp;utm_medium=referral&amp;utm_source=pexels">Andrea Piacquadio</a>&nbsp;from&nbsp;<a href="https://www.pexels.com/photo/young-troubled-woman-using-laptop-at-home-3755755/?utm_content=attributionCopyText&amp;utm_medium=referral&amp;utm_source=pexels">Pexels</a>

Futures

UVXY

The Volatility Index Spikes On Evergrande Fears: Here's How To Play It

Some of the biggest technology companies continue to see their shares plunge in Hong Kong amid the Evergrande crisis on Tuesday.

What Happened: Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) shares are trading 2.1% lower at HKD 148.30 at press time in Hong Kong.

JD.Com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) stock is down 1.63% at the time of writing, trading at HKD 289.80. Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) shares are trading about 1% lower at HKD 449.80.

Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) shares are down 3.9% at HKD 150.30 at press time.

China Evergrande Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EGRNF#OTC">EGRNF</a>), whose financial woes have sparked a slump in markets globally, is down 3.07% at press time, trading at HKD 2.21.

Among electric vehicle stocks, Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) peers Xpeng Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NASDAQ">XPEV</a>) and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) have plummeted 4.45% and 7.4% to HKD 141.70 and HKD 102.80, respectively.

Automaker BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is down 1.6% to HKD 239.80 at the time of writing.

Hang Seng Index, the benchmark stock market index for Hong Kong, is down 0.88% to 23,886.25 at press time.

See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/21/09/23018463/the-volatility-index-spikes-on-evergrande-fears-heres-how-to-play-it">The Volatility Index Spikes On Evergrande Fears: Here&#39;s How To Play It</a>

Why It Matters: The Hong Kong stock market has been seeing high volatility in recent months with uncertainty over the regulatory situation in China, where many of the biggest companies listed in Hong Kong operate.

The latest plunge comes amid the Evergrande crisis, with concerns over <a href="https://www.benzinga.com/analyst-ratings/analyst-color/21/09/23018400/will-evergrandes-liquidity-woes-morph-into-lehman-like-collapse" style="text-decoration-line:none">whether the highly indebted property dealer would be able to resolve</a> its financial woes.

The plunge in Hong Kong on Monday seemed to cause a ripple effect across global markets, taking a toll both on U.S. equities and cryptocurrencies.

The S&amp;P 500 closed 1.7% lower on Monday and Nasdaq Composite dropped lower by 2.19%. Large-cap tech stocks saw a significant drop, with Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) closing 2.1% lower, Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) closing 3.08% lower and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) closing 3.86% lower.

Major cryptocurrencies have suffered a similar fate, with Bitcoin (CRYPTO: BTC) trading 6.3% lower at $42,797 at press time, <a href="https://www.benzinga.com/money/is-ethereum-a-good-investment/">Ethereum</a> (CRYPTO: ETH) down 6.29% at $3,006.37 and retail-favorite Dogecoin (CRYPTO: DOGE) trading about 5.6% lower at $0.2099.

$BTC

$DOGE

$ETH

BABA

XPEV

BIDU

EGRNF

BYDDF

BYDDY

Alibaba, JD, Tencent And Nio Peers Xpeng, Li Auto Continue To Plunge In Hong Kong Amid Evergrande Woes

The long-awaited feature of cryptocurrency wallets and transfers on Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) could be coming soon.

What Happened: <a href="https://www.benzinga.com/money/robinhood-app-review/">Robinhood</a>&nbsp;is testing crypto wallets and crypto transfers on its app, according to <a href="https://www.bloomberg.com/news/articles/2021-09-20/robinhood-hood-tests-crypto-wallet-and-transfer-features-for-its-app?sref=TBDibEcD">Bloomberg</a>.

The new feature would allow users the ability to send and receive cryptocurrencies supported on the app like <a href="https://www.benzinga.com/money/how-to-buy-bitcoin/">Bitcoin </a>(CRYPTO: BTC), <a href="https://www.benzinga.com/money/how-to-buy-ethereum/">Ethereum </a>(CRYPTO: ETH) and <a href="https://www.benzinga.com/money/how-to-buy-dogecoin-doge/">Dogecoin </a>(CRYPTO: DOGE).

A beta version for the Robinhood app on Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhones shows a waitlist page for signing up for a crypto wallet feature from the company. Bloomberg also reports that code referencing cryptocurrency transfers was found in the app.

Robinhood also teased crypto wallets&nbsp;&nbsp;on Twitter on Monday, asking&nbsp;users &ldquo;What is one product feature you would love to see and why wallets?&rdquo; The post was retweeted by Vlad Tenev with&nbsp;a gif of John Travolta looking around from inside a wallet.

<blockquote class="twitter-tweet">
<a href="https://t.co/zz0zo2dzLa">https://t.co/zz0zo2dzLa</a> <a href="https://t.co/pVUAx7y23I">pic.twitter.com/pVUAx7y23I</a>
&mdash; VLAD (@vladtenev) <a href="https://twitter.com/vladtenev/status/1440053518421807106?ref_src=twsrc%5Etfw">September 20, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/21/08/22567444/robinhood-markets-says-working-on-offering-crypto-wallets-but-doing-so-at-scale-is-difficu">Robinhood Markets Says Working On Crypto Wallets But Doing So At Scale Is Difficult</a>&nbsp;

Why It&rsquo;s Important: Many cryptocurrency fans have called out Robinhood for not offering wallets and used the phrase &ldquo;Not your keys, Not your coins.&rdquo;

Robinhood had discussed adding wallets earlier this year but was also cautious explaining they want to do it right.

Having crypto wallets integrated on Robinhood would allow users to use cryptocurrencies without having to convert them to dollars.

The move by Robinhood could also place pressure on Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), which has likely benefitted from dissatisfaction surrounding Robinhood&rsquo;s existing crypto policies and limited offerings.

Price Action: HOOD shares were down 4% to $40.70 on Monday and saw a slight jump on the news report from Bloomberg in after-hours trading.

Photo: Courtesy of Robinhood.

Cryptocurrency

HOOD

COIN

Robinhood Said To Be Testing Long-Awaited Wallet, Transfer Features For Cryptos Like Bitcoin, Ethereum, Dogecoin

Hollywood and the film exhibition industry made up for pandemic-lost time this summer with a skein of high-grossing titles that dominated the newly-reopened theaters from Memorial Day through Labor Day. However, not every movie was a box office champ and multiple lessons were obvious in reviewing the highs and lows of the post-pandemic summer film season.

What Worked This Summer: According to data compiled by BoxOfficeMojo.com, this summer, the studios that commanded the big screen environment were&nbsp;Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Comcast&rsquo;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) Universal Pictures.

Each had five films in the summer&rsquo;s top 20 titles, with ViacomCBS&rsquo; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIAC#NASDAQ">VIAC</a>) Paramount Pictures and AT&amp;T&rsquo;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) Warner Bros. each placing three titles in the top 20.

The year&rsquo;s top box office hit among the summer releases was Disney&rsquo;s &ldquo;Black Widow,&rdquo; with a domestic gross to date of $183 million. This might come as a surprise to some, considering the <a href="https://www.benzinga.com/news/21/07/22040397/disney-slammed-by-theater-owners-for-simultaneous-cinema-streaming-release-of-black-widow">public rebuke</a> that Disney received from the National Association of Theater Owners that the studio&rsquo;s simultaneous theatrical and streaming release of &ldquo;Black Widow&rdquo; diluted its ticket sales.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://www.youtube.com/embed/ybji16u608U" width="560"></iframe>

The second-place finisher among the summer releases was Universal&rsquo;s &ldquo;F9: The Fast Saga,&rdquo; the ninth installment in the 20-year-old &ldquo;Fast and Furious&rdquo; franchise. And audiences were showing no weariness of films that extended or recycled older material &mdash; all but three films in the summer&rsquo;s top 20 were either sequels, remakes or reboots of earlier films or, in the cases of Disney&rsquo;s &ldquo;Jungle Cruise&rdquo; and Paramount&rsquo;s &ldquo;PAW Patrol: The Movie,&rdquo; big screen adaptations of well-established properties from other mediums.

Of the three original productions, only &ldquo;Free Guy&rdquo; from Disney&rsquo;s 20th Century Studios cracked the top 10, with a domestic gross to date of $105 million. M. Night Shyamalan&rsquo;s &ldquo;Old&rdquo; from Universal ranked 12th with $47.8 million in ticket sales, but considering the film was made on a relatively low budget of $18 million, that turned into a profitable endeavor.

What Didn&rsquo;t Work This Summer: Far less successful was the big-screen adaptation of the Lin-Manuel Miranda Broadway musical &ldquo;In the Heights,&rdquo; which grossed $29.8 million to date on a budget of $43.9 million. Despite the extensive promotion of the work &mdash; which featured multiple reminders of Miranda as the creator of the &ldquo;Hamilton&rdquo; juggernaut &mdash; the summer&rsquo;s only musical limped into 18th place within the top 20.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://www.youtube.com/embed/V4CRPvel2Vc" width="560"></iframe>

Animated features also underperformed during the summer. While Warner Bros. &ldquo;Space Jam: A New Legacy&rdquo; grossed $70.2 million to date for an eighth-place ranking in the top 20,&nbsp;it underperformed when held up to the original 1996 &ldquo;Space Jam&rdquo; which brought in $90 million.

Likewise, Universal&rsquo;s &ldquo;The Boss Baby: Family Business&rdquo; has generated $57.1 million for a tenth-place finish, but the 2017 &ldquo;Boss Baby&rdquo; grossed $175 million. And &ldquo;Peter Rabbit 2: The Runaway&rdquo; from Sony Pictures (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) placed 15th with $40.3 million &mdash; while the 2018 original grossed $115 million.

&ldquo;PAW Patrol: The Movie&rdquo; was the first big-screen version of the popular animated television series, but it ranked 17th with $37.1 million.

Some studios with animated films bypassed the summer theater season completely and put their titles on streaming. This included &ldquo;Luca&rdquo; from Disney&rsquo;s Pixar division. It had&nbsp;one-week Los Angeles theatrical engagement to qualify the film for Academy Award consideration.

It also includes &ldquo;My Little Pony: A New Generation,&rdquo; which&nbsp;was initially planned as a Paramount release&nbsp;but is now slated for a Sept. 24 premiere on Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with limited theatrical release overseas.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://www.youtube.com/embed/Pa_PRDVpjSk" width="560"></iframe>

Lessons To Learn: One obvious lesson from the summer is that bankable star power is no guarantee of a commercial hit. For example, while Ryan Reynolds headlined sixth-place finisher &ldquo;Free Guy,&rdquo; he also starred with reliables Samuel L. Jackson and Salma Hayek in &ldquo;The Hitman&rsquo;s Bodyguard&rsquo;s Wife,&rdquo; which placed 16th with a $38 million gross against a $70 million budget.

Other star vehicles that sank included the Matt Damon vehicle &ldquo;Stillwater&rdquo; (27th place at $14.4 million) and &ldquo;Reminiscence&rdquo; with Hugh Jackman (37th place with $3.8 million). That trend appears to have continued with Clint Eastwood&rsquo;s &ldquo;Cry Macho,&rdquo; which <a href="https://www.benzinga.com/news/21/09/23003311/disneys-shang-chi-and-free-guy-rule-at-box-office-clint-eastwoods-cry-macho-flops">emerged</a> from the weekend with an anemic $4.5 million from 3,967 screens, placing third behind &ldquo;Shang-Chi and the Legend of the Ten Rings&rdquo; and &ldquo;Free Guy.&rdquo;

An unpredictable fall theatrical season became even more curious as Paramount Pictures <a href="https://www.benzinga.com/news/21/09/22781412/paramount-pulls-all-theatrical-films-from-2021-release">pulled</a> its remaining 2021 from the release schedule, including the long-awaited Tom Cruise vehicle &ldquo;Top Gun: Maverick,&rdquo; which was slated for the Thanksgiving weekend and has now been pushed back to 2022&rsquo;s Memorial Day weekend.

And despite the success of &ldquo;Black Widow,&rdquo; Disney is <a href="https://www.benzinga.com/news/21/09/22894688/disney-to-release-remaining-2021-film-in-theatrical-exclusive-premieres">focusing</a> on a theatrical-only release slate for the rest of 2021, whereas Warner Bros. &mdash; which just released &ldquo;Cry Macho&rdquo; &mdash; is still on track for dual presentations in theaters and on HBO Max into 2022.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://www.youtube.com/embed/qSqVVswa420" width="560"></iframe>

Photo: Scarlett Johansson in the summer&#39;s top-grossing film &quot;Black Widow,&quot; courtesy of Disney.

CMCSA

NFLX

SONY

VIAC

Lessons From The US Summer Box Office: What Worked And What Didn't

Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/21/09/22939796/apples-key-product-announcements-iphone-13-models-new-ipad-improved-ipad-mini-apple-watch-series-7">unveiled</a> the next iteration of the iPhone &mdash; iPhone 13 &mdash; at its &quot;California Streaming&quot; event last week.

The company began accepting preorders for the four variants of its newest iPhone model Friday morning and shipments will begin Sept. 24. On the same day, the company will begin selling the new iPhone models through its stores.

iPhones Sell Like Hot Cakes: Some of the iPhone models saw delivery dates extending to early October&nbsp;hours after preordering began, according to BGR. The pricier iPhone Pro and iPhone Pro Max were among the first models to sell out, the report said.

Delivery date estimates for the 1-TB iPhone 13 Pro models are currently at Oct. 19-26.

The cheaper iPhone 13 and iPhone mini variants have also been sold out and deliveries are delayed until early to mid-October, the report said.

Pink Is The New Black: The pink version of the iPhone 13 series is the most sought after, Gizchina reported, citing reports that reviewed information from the official Tmall platform.

Apple has a flagship store on the&nbsp;Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)-owned B2C e-commerce platform Tmall.

The pink model sold out in less than 3 minutes, the report said.

As of Sept. 16, more than 3 million people had placed orders for the iPhone 13 series on Tmall, the report said.

Related Link: <a href="https://www.benzinga.com/top-stories/21/09/22992899/is-apples-stock-overvalued-or-undervalued">Is Apple&#39;s Stock Undervalued Or Overvalued?</a>

Preorders Track Better Than In 2020: As of Sept. 20, ship dates for the iPhone 13 mini, Pro and Pro Max models are slightly extended compared to last year at this point in the pre-order cycle, BofA Securities analyst Wamsi Mohan said.

The availability at U.S. Apple stores seems good, where many models are available for pickup on the first available date of Sept. 24, the analyst said. Delivery dates, however, seem faster from carrier websites, he added.

The extended lead time for models with the 1-TB storage could be due to lower supply, the analyst said.

In China, ship dates for the&nbsp;iPhone 13 Pro/Pro Max are slightly more extended than they were last year, likely due to lower pricing, BofA said.

The weighted average lead time for the iPhone 13&nbsp;is running similar to the iPhone 12 last year, but the remaining iPhone 13 models are trending with slightly longer lead times vs. their iPhone 12 counterparts, Mohan said.

In China, Apple has priced iPhone 13 models about 300-800 yuan ($46-$124) cheaper than the corresponding launch price of iPhone 12 models with the same storage capacity, Mohan said, citing Chinese media reports.

Apple likely expects unit growth in China to offset the ASP pressure and the forex impact stemming from the strengthening of the yuan, the analyst said.

BofA continues to model 210 million iPhone units for fiscal year 2022, down 13% year-over-year. The firm said shipment dates could also be impacted by component shortages.

BofA has a Neutral rating and $160 price target for Apple shares.

AAPL Price Action: Apple shares were down 2.99% at $41.69 Monday afternoon.&nbsp;

How Preorders For Apple's iPhone 13 Models Are Tracking

As the world continues to contend&nbsp;with COVID-19, much about the virus remains uncertain, including its interactions with cannabis.

In the early months of the pandemic, various studies linked pot to both adverse and beneficial results. The trend continues today, with little conclusively known about the cannabis-COVID medical connection if indeed there is one.

That said, it is much clearer to see that the pandemic created a <a href="https://www.benzinga.com/markets/cannabis/20/05/15980181/what-happened-after-the-covid-19-cannabis-buying-surge-medical-vs-recreational-sales-in-the-time">significant beneficial impact</a> on the marketplace.

<h2>Almost All Conclusions Require Additional Data</h2>

Several physicians and researchers tell Benzinga that little has been concluded regarding any cannabis-COVID connections, beneficial or adverse.

Dr. Samoon Ahmad is a professor of psychiatry at NYU Grossman School of Medicine, where he serves as the unit chief of the inpatient unit at Bellevue Hospital. He said that &quot;Unfortunately, not a lot&quot; is certain at this time.

Dr. Robert Milanes, a California-based cannabis physician of telehealth platform Heally, stated, &quot;One thing we know conclusively is that cannabis cannot cure COVID-19.&quot;

See also: <a href="https://www.benzinga.com/markets/cannabis/21/09/15561877/is-smoking-marijuana-dangerous-a-scientific-review-of-cannabis-tobacco-smoking-and-lung-cancer" title="Is Smoking Marijuana Dangerous? A Scientific Review Of Cannabis, Tobacco Smoking And Lung Cancer">Is Smoking Marijuana Dangerous? A Scientific Review Of Cannabis, Tobacco Smoking And Lung Cancer</a>

Despite his assertion, cannabis entrepreneurs, like retired NFL player Kyle Turley, have claimed CBD can cure COVID-19. In late March 2020, <a href="https://www.bostonglobe.com/2020/04/02/marijuana/fda-warns-former-nfl-player-kyle-turley-stop-claiming-cbd-can-cure-coronavirus/">the FDA warned Turley</a> about making such claims.

Milanes pointed out that&nbsp;cannabis use increased during the pandemic. He noted a Margriet W. van Laar et al. study that saw 41.3% of respondents saying their <a href="https://www.frontiersin.org/articles/10.3389/fpsyt.2020.601653/full">cannabis use increased</a> during the lockdown.

Beyond that,&nbsp;no one considered any findings to be verifiable at this time.

Ahmad, the author of a medical cannabis clinical handbook and an upcoming Wolters Kluwer-published book delving into the pandemic&#39;s psychosocial effects, noted that several studies of interest had been published in recent months.

He cited additional studies with various adverse and beneficial conclusions. They include possible <a href="https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fthorax.bmj.com%2Fcontent%2F76%2F1%2F29&amp;data=04%7C01%7C%7C90fee4cf0b8a447bc14c08d95d969e4c%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637643723746062322%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&amp;sdata=vAoooFoQGV2ru%2BOz1hmFhH8d68XSME6MYE%2Bc%2B4q0CQg%3D&amp;reserved=0">elevated rates of adverse outcomes</a> for older patients using the synthetic drugs nabilone and dronabinol to treat severe breathing problems. Ahmad&nbsp;countered the results, stating,&nbsp;&quot;This is indirect evidence and tenuous at best.&quot;

He also cited studies linking heavy cigarette use to worsened COVID symptoms, hypothesizing that heavy cannabis smoke could have the same effect. He warned that vaping risks are even more tenuous.

&quot;I would err on the side of caution and recommend that individuals use tinctures or edibles should they choose to use cannabis, particularly if they have comorbidities associated with worse COVID-19 outcomes,&quot;&nbsp;Ahmad added.

Milanes also discussed various studies and their outcomes.

The physician&nbsp;cited one study that concluded cannabis users <a href="https://ascpjournal.biomedcentral.com/articles/10.1186/s13722-021-00214-0">could be more vulnerable</a> to contagion and worsening conditions due to COVID. He noted additional analyses that found people predisposed to cannabis use disorder saw an <a href="https://ascpjournal.biomedcentral.com/articles/10.1186/s13722-021-00214-0">increased likelihood of hospitalization</a> from the virus while other studies&nbsp;concluded that CBD might play a substantial role in <a href="https://www.frontiersin.org/articles/10.3389/fimmu.2020.01446/full">lessening the severity</a> of a cytokine storm. This is when the body&#39;s immune system goes into overdrive, of sorts, signaling an influx of cytokines to fight a pathogen.

Milanes called the occurrence &quot;the most dangerous and potentially life-threatening event related to COVID-19.&quot;

Ahmad added, &quot;Preclinical evidence suggests that THC and CBD may reduce the severity of acute respiratory distress syndrome (ARDS), but clinical evidence is still lacking.&quot;

<h2>Good For Health, Probably Not.&nbsp;Good For Business? Yep.&nbsp;Sales Boomed During Pandemic</h2>

Though little&nbsp;to no medical research links cannabis use with&nbsp;COVID-19 relief, that is definitely not the case in business&nbsp;where the pandemic proved to be a boon for the emerging industry.

Jessica Lipton, a cannabis researcher and founder of gummies brand Elevate Delta 8, said

<a href="https://www.benzinga.com/markets/cannabis/20/05/16026667/the-coronavirus-pandemic-and-essential-medical-marijuana-as-medicine">the essential status</a> given to much of the industry led to significant expansion.

&quot;Businesses boomed and were encouraged to maximize cash flow, develop contingency plans and hire more people,&quot; Lipton said. She expects the trend to continue, especially for brands selling both THC and CBD products.

Delivery services also increased or were introduced across most markets to adhere to social distancing rules.

&quot;Although the relaxation of these guidelines is temporary, the success that we&#39;ve seen may encourage legislative adjustments in the future,&quot; Lipton added.

An August 2021 report found <a href="https://www.benzinga.com/markets/cannabis/21/08/22405767/marijuana-sales-increased-in-multiple-states-during-covid-study-finds-marijuana-moment-report">sales increased between 2019 and 2020</a> across Alaska, Colorado, Oregon and Washington during COVID-19.

M&aacute;s contenido sobre <a href="https://elplanteo.com/cannabis/" style="color:blue; text-decoration:underline">cannabis</a> en Espa&ntilde;ol en El Planteo.

Photo: <a href="https://www.pexels.com/@artempodrez?utm_content=attributionCopyText&amp;utm_medium=referral&amp;utm_source=pexels">Artem Podrez</a> from Pexels

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Dogecoin (CRYPTO: DOGE) continues to plummet for the second day in a row on Tuesday.

What Happened: The retail-favorite canine-themed cryptocurrency is down 3.77% over 24 hours leading to press time at $0.2113.

Over a period of seven days, Dogecoin is down 11.15% and its year-to-date gains stand at 3623% as of press time.

Against the two biggest cryptocurrencies, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), Dogecoin traded 0.4% higher and 0.7% lower over 24 hours, respectively.

See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-buy-dogecoin-doge/">How To Buy Dogecoin (DOGE)</a>

Why Is It Moving? Dogecoin is moving in line with the wider cryptocurrency market, which has dropped 3.27% lower to $1.93 trillion.

The Evergrande crisis in China has sparked a <a href="https://www.benzinga.com/news/21/09/23024092/alibaba-jd-tencent-and-nio-peers-xpeng-li-auto-continue-to-plunge-in-hong-kong-amid-evergrande-woes" style="text-decoration-line:none">fall of dominoes</a> across global markets that has not spared U.S. equities and cryptocurrencies.

CNBC host Jim Cramer <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23025025/cramer-begs-investors-of-cryptos-like-bitcoin-ethereum-dogecoin-to-book-profits-before-eve" style="text-decoration-line:none">urged cryptocurrency investors</a> late Monday to book some profits as he expects things to get worse due to the Evergrande crisis and anticipates it would impact virtual assets beyond stablecoin Tether (CRYPTO: USDT).

Meanwhile, Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) is <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23022420/robinhood-said-to-be-testing-long-awaited-wallet-transfer-features-for-cryptos-like-bitcoi" style="text-decoration-line:none">reported to be testing</a> cryptocurrency wallets and enabling transfers, a move that is highly awaited, including by Dogecoin supporters.

Dogecoin co-founder Billy Markus early Monday on Twitter <a href="https://twitter.com/BillyM2k/status/1439974955383508997" style="text-decoration-line:none">revealed</a> that his collection of Dogecoin-themed non fungible tokens (NFTs) was sold out in less than an hour, indicating that interest in the meme cryptocurrency remains high, even in the middle of a bear market.

The cryptocurrency also continues to see relatively low interest on Twitter, as per data from Cointrendz, trailing other assets like Bitcoin, Ethereum, and Cardano (CRYPTO: ADA).

Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23024311/cathie-woods-ark-raises-stakes-in-crypto-plays-robinhood-coinbase-and-other-keys-trades-fr">Cathie Wood&#39;s Ark Raises Stakes In Crypto Plays Robinhood, Coinbase &mdash; And Other Keys Trades From Monday</a>

$ADA

Why Is Dogecoin Dropping Lower Again Today?

CNBC &quot;Mad Money&quot; host Jim Cramer <a href="https://www.cnbc.com/2021/09/20/cramer-says-take-crypto-profits-cites-evergrande-related-tether-risks.html" style="text-decoration:none">said</a>&nbsp;Monday investors like him should book profits in their cryptocurrency portfolios before things get worse due to the weakness related to struggling Chinese property developer Evergrande.

What Happened: Cramer said, as much as cryptocurrency backers don&#39;t like to hear the word &quot;sell,&quot; he was &quot;begging&quot;&nbsp;investors who have made gains in cryptocurrencies to sell some of their holdings and return to weigh in as the situation unfolds.

&ldquo;Don&rsquo;t let it become a loss. Sell some, stay long the rest, then let&rsquo;s wait and see if China changes its attitude toward an Evergrande bailout,&rdquo; Cramer said on his show.

Cramer, who has disclosed a position in&nbsp;Ethereum (CRYPTO: ETH), said his concerns begin with Tether (CRYPTO: USDT), a stablecoin that&rsquo;s pegged to the U.S. dollar.&nbsp;

See Also: <a href="https://www.benzinga.com/news/21/09/23012663/why-bitcoin-and-ethereum-are-trading-lower-today" style="text-decoration:none">Why Bitcoin And Ethereum Are Trading Lower Today</a>

Tether is the third-largest cryptocurrency by market value, trailing only Bitcoin (CRYPTO: BTC) and Etherereum.

&ldquo;The problem with tether is that it&rsquo;s backed by various holdings and roughly half of those are commercial paper &mdash; short-term loans &mdash; and much of that is believed to be, but we don&rsquo;t know, Chinese commercial paper,&rdquo; Cramer said, adding that even if Tether doesn&#39;t&nbsp;any Evergrande exposure, as it claims, &ldquo;tonnes&rdquo; of Chinese businesses could get crushed due to the Evergrande exposure and that could trigger a fall of dominoes.

Why It Matters:

Cramer said it&#39;s not just the Tether investors that are at risk but a fall in such a scenario is &quot;going to gut the whole crypto ecosystem.&rdquo; The former hedge fund manager said &quot;if you own crypto in any form,&quot; book some profits, implying such a fall would impact major cryptocurrencies like Bitcoin, Ethereum, Dogecoin and possibly&nbsp;<a href="https://www.benzinga.com/money/best-crypto-stocks/">even crypto-play stocks.</a>

Bitcoin and Ethereum are trading significantly lower amid a broader market sell-off triggered by increasing concerns that Chinese property giant Evergrande&#39;s current debt could lead to a collapse. Evergrande is a major property developer in China and also owns multiple other business units operating in industries such as healthcare services and electric vehicles. The company has more than $300 billion in total liabilities and recently warned investors it may default on its debts.

Price Action: BTC was trading 1.31% lower at $43,111.67 as of press time on Tuesday. ETH was up 1.2% at $3,041.75. Dogecoin (CRYPTO: DOGE) was trading 2.79% lower at $0.21.&nbsp;

For news coverage in French, Italian, or Spanish, check out&nbsp;<a href="https://fr.benzinga.com/" rel="noopener noreferrer" target="_blank">Benzinga France</a>,&nbsp;<a href="https://it.benzinga.com/" rel="noopener noreferrer" target="_blank">Benzinga Italia</a>, or&nbsp;<a href="https://es.benzinga.com/" rel="noopener noreferrer" target="_blank">Benzinga Espa&ntilde;a</a>.

Photo by Tulane Public Relations on <a href="https://commons.wikimedia.org/wiki/File:Jimcramerphoto.jpg">Wikimedia</a>

Cramer 'Begs' Investors Of Cryptos Like Bitcoin, Ethereum, Dogecoin To Book Profits Before Evergrande Crisis Takes Bigger Toll

A <a href="https://mjbizdaily.com/wp-content/uploads/2021/09/Burner-distro-lawsuit.pdf">suit</a> filed last week in state court by a California retail chain against the Department of Cannabis Control (DCC) alleges that criminals have been legally buying an unknown number of cannabis distribution licenses, reported&nbsp;MJBizDaily.

The DCC is responsible for, among other things, establishing, implementing, maintaining, and enforcing a track and trace program for reporting the movement of cannabis products throughout the distribution chain.

Through&nbsp;this lawsuit, HNHPC, Inc., a state/local licensed dispensary in Santa Ana, seeks to compel the DCC to perform its legal duties.

According to HNHPC,&nbsp;the DCC&rsquo;s failure&nbsp;to perform its legal duty to implement systems to properly track and flag questionable transactions&nbsp;has led to the exponential rise of &ldquo;Burner Distros,&rdquo;&nbsp;which conceal and launder State-grown cannabis for delivery to unregulated markets without paying significant legally mandated taxes.

According to the suit, operators (usually legal cannabis operators) purchase or obtain distribution licenses in various local jurisdictions, often where cultivation operations are prevalent and/or where such licenses are relatively easy&nbsp;to&nbsp;acquire. They do this by using an array of different &ldquo;front men&rdquo; who agree to attach their names to the licenses.

Once licensed, the Burner Distros purchase large quantities of cannabis from cultivators within the State. By law, Burner Distros are responsible for paying all mandated&nbsp;taxes although they &quot;may or may not pay&quot; them,&nbsp;alleged the Plaintiff.&nbsp;

HNHPC is informed and believes the system implemented by the DCC, called &ldquo;METRC,&rdquo;&nbsp;can be re-designed to identify Burner Distros, but it would require the State to amend its current agreement with the developer of METRC.

In addition, the suit alleges&nbsp;that the DCC and the State have purposely turned a blind eye to illegal Burner Distros in order to keep excess&nbsp;cultivation tax money flowing in.

&ldquo;This leads to two inevitable and ultimately devastating consequences,&rdquo; claims the suit.&nbsp;

<ul>
	<li>A cheaper illicit-market cannabis undercuts the legal industry, for starters.</li>
	<li>A huge hit to state tax revenue, which the suit estimates could&nbsp;be in the &ldquo;hundreds of millions of dollars.&rdquo;</li>
</ul>

The practical result: The legal market has been propping up the illicit market instead of replacing it, said Elliot Lewis, CEO of Catalyst Cannabis Co., a California retail chain that operates six stores. Catalyst&rsquo;s parent company, HNHPC, is the plaintiff in the suit, per MJBiz.

&quot;More legal product is going out of the state than is being sold legally in the state,&rdquo; Lewis added.&nbsp;&ldquo;The only question is, is it two times, three times, four times?&rdquo;

Industry executives say the lawsuit&nbsp;is important because it exposes a problem that state regulators and&nbsp;lawmakers need to address.

&ldquo;I&rsquo;m really happy this lawsuit is coming to light because it&rsquo;ll force the state to act,&rdquo; said Vince Ning, CEO of Oakland-based marijuana distributor Nabis.

Others in the industry seem to agree that the lawsuit is exposing a serious flaw in the regulatory system that is &quot;cutting the financial legs out from under the legal market,&quot; wrote MJBiz Daily.

&nbsp;

'Millions Of Pounds' Of Legal Marijuana Diverted to Underground Market In California And Guess Who Seems To Be Turning A Blind Eye?

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Why is it Moving?

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) shares have outperformed the S&amp;P 500 in 2021, generating a year-to-date total return of 33.1%.

Microsoft is still putting up impressive growth numbers. But with a $2.25 trillion market cap, some investors are wondering if there&rsquo;s any value left in Microsoft stock.

Earnings: A price-to-earnings ratio (PE) is one of the most basic fundamental metrics for gauging a stock&rsquo;s value. The lower the PE, the higher the value. For comparison, the S&amp;P 500&rsquo;s PE is currently at about 34.6, more than double its long-term average of 15.9.

Microsoft&rsquo;s PE is currently 36.5. While that number is certainly under the S&amp;P 500 average as a whole, Microsoft&rsquo;s PE is up 35% over the past five years, suggesting its earnings multiple is on the high end of its historical range.

Related Link: <a href="https://www.benzinga.com/top-stories/21/09/22992899/is-apples-stock-overvalued-or-undervalued">Is Apple&#39;s Stock Overvalued Or Undervalued?</a> 

Growth: Looking ahead to the next four quarters, the S&amp;P 500&rsquo;s forward PE ratio looks much more reasonable at just 20.7. Unfortunately, Microsoft&rsquo;s forward earnings ratio of 29.1 doesn&rsquo;t make the stock undervalued at its current price. In fact, it appears to be slightly overvalued compared to technology <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> peers that are currently averaging a 26.4 forward earnings multiple.

However, when it comes to evaluating a stock, earnings aren&#39;t&nbsp;everything.

Growth rate is also critical for companies that are rapidly building their bottom lines. The price-to-earnings-to-growth ratio (PEG) is a good way to incorporate growth rates into the evaluation process. The S&amp;P 500&rsquo;s overall PEG is currently about 1; Microsoft&rsquo;s PEG is 2.4, a potential red flag that the stock has become overheated.

Price-to-sales ratio is another important valuation metric, particularly for unprofitable companies and growth stocks. The S&amp;P 500&rsquo;s PS ratio is currently 3.1, nearly twice its long-term average of 1.62. Microsoft&rsquo;s PS ratio is 13.3, definitely not what a value investor is looking for.

Finally, Wall Street analysts see modest gains for Microsoft shares over the next 12 months. The average analyst price target among the 33 analysts covering Microsoft is $330, suggesting about 11.5% upside from current levels.

The Verdict: At its current valuation, Microsoft stock is showing a couple of warning signs of being overvalued, so investors should proceed with caution.

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Is Microsoft's Stock Overvalued Or Undervalued?

<ul>
	<li>Citing people familiar with the matter,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-09-21/fda-is-expected-to-decide-on-pfizer-booster-shots-on-wednesday?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>&nbsp;that the FDA is expected to decide on Wednesday whether to recommend&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and&nbsp;BioNTech SE&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) COVID-19 vaccine as a booster shot.</li>
	<li>Last Friday, an FDA advisory panel recommended against the broader use of the vaccine as an additional shot.&nbsp;</li>
	<li>But the panel did endorse the booster shot in people aged 65 years and older and those at occupational exposure to COVID-19.</li>
	<li>Related Link:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/21/09/22997460/fda-panel-votes-against-approval-of-pfizerbiontechs-covid-19-booster-shot-for-general-public" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Panel Votes Against Approval Of Pfizer/BioNTech&#39;s COVID-19 Booster Shot For General Public</a>.</li>
	<li>Tomorrow, the regulators broaden the group of people who will be eligible for booster shots.</li>
	<li>Earlier this month, the federal health officials reportedly asked the White House to push back the start of a planned COVID-19 booster campaign, at least for&nbsp;Moderna Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) and&nbsp;Johnson &amp; Johnson&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>).</li>
	<li>Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/21/09/22800923/covid-19-vaccine-booster-shots-will-have-to-wait-fda-tells-white-house-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">COVID-19 Vaccine Booster Shots Will Have To Wait, FDA Tells White House</a>.</li>
	<li>Yesterday, Pfizer and BioNTech reported encouraging data for its COVID-19 vaccine in one cohort of kids aged 5-11 years.</li>
	<li>Price Action:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/21/09/23008085/pfizerbiontech-covid-19-vaccine-data-for-kids-is-here-what-you-need-to-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pfizer/BioNTech COVID-19 Vaccine Data For Kids Is Here: What You Need To Know</a>.</li>
	<li>Price Action:&nbsp;PFE stock is down 0.54% at $43.96, while BNTX stock is up 0.67% at $341.29 during the market session on the last check Tuesday.</li>
	<li>Photo by x3 from Pixabay</li>
</ul>

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FDA To Probably Decide On Pfizer/BioNTech COVID-19 Booster Shots By Tomorrow: Bloomberg

Jim Cramer went on a Twitter rant Tuesday morning with a slew of insults aimed at GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) Apes. The&nbsp;&ldquo;Mad Money&rdquo; host was triggered when @ConnorRoy14 called him a &quot;bad guy&quot;&nbsp;and advised everyone should &ldquo;always do the opposite of Cramer.&rdquo;

&ldquo;You are the people who came in here and didn&rsquo;t sell GameStop at $400 when I said to,&rdquo; <a href="https://twitter.com/jimcramer/status/1440263738255241222?s=20">said</a> Cramer. He then went on to claim he watched Robinhood traders &ldquo;lose fortunes in options during the first actual downturn. They are the bad guys.&rdquo;

Cramer doesn&rsquo;t appear to have his facts straight, however, because the apes don&rsquo;t trade <a href="http://www.benzinga.com/money/how-to-buy-gme-stock/">GameStop</a> options. One of the main principles of being an ape is &quot;hodling&quot;&nbsp;common shares until the mother of all short squeezes (MOASS) finally takes place. It&rsquo;s unclear, regardless, how losing money on options makes anyone a bad person.

&ldquo;Sticks and stones may break my bonds but that is why I carry nuclear weapons. You short timers are over, done, and are going to play bingo at sunrise senior living,&rdquo; Cramer <a href="https://twitter.com/jimcramer/status/1440264282663309315?s=20">added</a>.

Although the apes are a truly diverse group who come from all walks of life, career backgrounds, ethnicities and numerous countries around the globe, it&#39;s unclear how many are close to retirement age or what Cramer meant by referencing nuclear weapons.

Cramer&rsquo;s outburst may draw attention, but&nbsp;will it have an effect on GameStop&rsquo;s share price? On Tuesday the stock was consolidating some selling pressure from Monday when the overall markets wobbled.

See Also:&nbsp;<a href="https://www.benzinga.com/news/21/09/23003520/gamestop-stock-the-naked-shorting-the-sec-and-why-the-apes-arent-dumb-retail">GameStop Stock: The Naked Shorting, The SEC And Why The Apes Aren&#39;t &#39;Dumb Retail&#39;</a>

The GameStop Chart: On Aug. 23 GameStop broke up bullishly from a falling channel the stock had been trading in since June 11 and on Aug. 24 soared up 25% higher before entering into a five-day period of consolidation. On Sept. 1 GameStop hit a high of $231.44 and has since been trading sideways.

GameStop looks to have settled into a pennant pattern on the daily chart making a series of lower highs and higher lows as the trading range tightens. If the pattern is recognized, GameStop is set to hit the apex of the pennant on Oct. 5 and should break from the pattern before the date. Traders will want to watch for high volume to come into the stock on the pattern break for confirmation of a larger move.

GameStop is trading below the eight-day and 21-day exponential moving averages but the eight-day EMA is trending above the 21-day, which indicates indecision. The stock is trading above the 200-day simple moving average, which indicates overall sentiment is bullish.

<ul>
	<li>Bulls want to see GameStop continue to hold above the lower ascending trendline of the pennant and then for big bullish volume to come in and drive the stock up through the top of the pattern and over a resistance level at $209. If the stock can regain the level as support, it has room to move up toward $225.</li>
	<li>Bears want to see big bearish volume drop the stock down through the pattern and below a support level at $169. If GameStop loses the level, it could fall back toward the $145 mark.</li>
</ul>

<img alt="gme_sept._21.png" src="https://www.benzinga.com/files/u278075/gme_sept._21.png" style="height:422px; width:750px" />

Photo:&nbsp;<a href="https://unsplash.com/@synesthe2ia?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Dimitris Chapsoulas</a> on <a href="https://unsplash.com/s/photos/gamestop?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>

Cramer Beats His Chest At GameStop Apes But The Stock Holds Strong

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