Bitfarms Stock (NASDAQ:BITF), Trade Ideas

Bitfarms

Bitfarms Ltd engaged in the cryptocurrency Mining industry mainly consists of selling its computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. Its geographic operations are currently located in Canada, the United States, Argentina, and Paraguay. It owns and operates server farms comprised of computers designed to validate transactions on the Bitcoin Blockchain.

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Bitcoin (CRYPTO: BTC), although recovering from Saturday’s lows, settled in the red on Monday, as it pulled back below the $63,500 mark.

Peter Schiff Challenges Bitcoin&#39;s $100K Prediction As Crypto-Linked Stocks Languish In Bear Zone: &#39;Sell Your Fool&#39;s Gold And Buy The Real Thing&#39;

bitcoin mining ai

CIFR

CLSK

IREN

RIOT

WULF

A JPMorgan Chase and Co. analyst note on Monday pointed out that despite Bitcoin (CRYPTO: BTC) prices hitting record highs in March, the perform

Bitcoin&#39;s Hashrate Up 80% From Last Year As Mining Profitability Improves, Says JPMorgan

Bitcoin

Movers

Bitfarms said it mined 286 bitcoin in March, down from 300 bitcoin mined in February and down from 424 bitcoin mined in March 2023. The company also sold 284 bitcoin last month for total proceeds of $19.2 million.

What&#39;s Going On With Bitfarms Stock Monday?

Bitfarms Ltd

BitForex Token

BITFRONTIER CAPITAL HLDGS by BitFrontier Capital Holdings, Inc.

BitFrontier Capital Holdings Inc

BitFuFu Inc

Group Financial Targets and Outlook: 2024 &bull; Returns: targeting RoTE of greater than 10% and c.10.5% excluding inorganic activity &bull; Income: targeting Barclays Group NII excluding IB and Head Office of c.&pound;10.7bn, of which Barclays UK NII of c.&pound;6.1bn1 &bull; Costs: targeting Group cost: income ratio of c.63%, which includes c.&pound;1bn of gross efficiency savings in 2024 &bull; Impairment: expect an LLR of 50-60bps through the cycle &bull; Capital: expect to operate within the CET1 ratio target range of 13-14% 2026 &bull; Returns: targeting a greater than 12% RoTE &bull; Capital returns: plan to return at least &pound;10bn of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks. Plan to keep total dividend stable at 2023 level in absolute terms, with progressive dividend per share growth driven through share count reduction as a result of increased share buybacks. Dividends will continue to be paid semi-annually. This multi-year plan is subject to supervisory and Board approval, anticipated financial performance and our published CET1 ratio target range of 13-14% &bull; Income: targeting Group total income of c.&pound;30bn &bull; Costs: targeting total Group operating expenses of c.&pound;17.0bn and a Group cost: income ratio of high 50s in percentage terms. This includes total gross efficiency savings of c.&pound;2bn by 2026 &bull; Impairment: expect an LLR of 50-60bps through the cycle &bull; Capital: expect to operate within the CET1 ratio target range of 13-14%&ndash; Targeting IB RWAs of c.50% of Group RWAs in 2026&ndash; Impact of regulatory change on RWAs in line with prior guidance, expected to be at lower end of 5&ndash;10% of Group RWAs. This includes c.&pound;16bn RWAs expected in H224 due to USCB moving to Internal Ratings-Based (IRB) models

Guidance

Barclays Reiterated  2024 Outlook: Targets Barclays Group NII Excluding Barclays Investment Bank And Head Office Of £10.7B, Expects RoTE Of Greater Than 10% In 2024 And 10.5% Excluding Inorganic Activity

Unilever Continues To Expect FY24 Underlying Sales Growth To Be Within Its Multi-year Range Of 3% - 5%, With Increasing Contribution From Volume Growth

Earnings

Unilever Q1 FY24 Sales €15.0B, Up 1.4% YoY, With Underlying Sales Growth Of 4.4%

Barclays (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) reported quarterly earnings of $0.52 per share which missed the analyst consensus estimate of $0.58 by 10.34 percent. The company reported $8.818 billion in sales this quarter. This is a 0.32 percent increase over sales of $8.790 billion the same period last year.

Earnings Misses

Barclays Q1 2024 GAAP EPS $0.52 Misses $0.58 Estimate, Sales $8.818B Up From $8.790B YoY

Mark Zuckerberg has outlined three strategies for Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to monetize its <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber">substantial investments</a> in artificial intelligence (AI.)
What Happened: Zuckerberg, during the <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">March 2024 quarter earnings</a> call, expressed his confidence in Meta&#8217;s AI capabilities, particularly with the launch of Llama 3, the company&#8217;s latest AI model.
He stated that Meta will &#8220;invest significantly more over the coming years to build even more advanced models and the largest scale AI services in the world.&#8221;
Despite the substantial costs associated with this ambition, Meta plans to increase its capital expenditure for this year to $35 billion to $40 billion, primarily for AI investments. This announcement resulted in a 16% stock drop in after-hours trading.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO</a>
Zuckerberg, however, is confident that Meta&#8217;s AI investments will yield significant profits in the future. He outlined three specific ways in which AI could become a &#8220;massive business&#8221; for Meta.
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.
<h2 class="wp-block-heading">Zuckerberg's 3-Step Plan To Monetize AI Investments:</h2>
<h4 class="wp-block-heading">1. Charging Companies For Using Generative AI Tools</h4>
The first method involves companies paying Meta for generative AI tools, such as services supporting automated interactions with users and customers. This could become a reality within the next five years, according to Zuckerberg.
<h4 class="wp-block-heading">2. Advertisements</h4>
The second approach is to integrate ads or paid content into AI interactions. This aligns with Meta&#8217;s core business of selling digital advertising.
<h4 class="wp-block-heading">3. Monetizing Large AI Models</h4>
The third potential revenue stream is charging for access to Meta&#8217;s increasingly larger AI models.
Why It Matters: Zuckerberg&#8217;s announcement comes after Meta <a href="https://www.benzinga.com/news/24/04/38421280/metas-stock-plunge-after-q1-numbers-an-overreaction-to-zuckerbergs-capex-move-says-gene-munster-he-w">announced plans</a> to significantly increase its capital expenditure for AI investments.
This move has raised concerns among investors, given the company&#8217;s history of overspending on new technologies, such as the Metaverse.
These strategies align with Meta&#8217;s recent AI initiatives, including the launch of its latest AI model, <a href="https://www.benzinga.com/news/24/04/38330339/mark-zuckerbergs-meta-says-llama-3-beats-googles-gemini-mistral-and-jeff-bezos-backed-anthropics-cla">Llama 3</a>, which has outperformed other AI models in benchmark tests.
Price Action: Meta stock closed 0.52% lower at $493.50 on Wednesday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
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: <a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended">Meta CEO Mark Zuckerberg: &#8216;More Than 50% Of The Content People See On Instagram Is Now AI Recommended&#8217;</a>
Disclaimer: 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.
Mark Zuckerberg Photo by Alexandros Michailidis on Shutterstock

Tech

Mark Zuckerberg Lays Down How Meta Will Make Money From Its Multi-Billion Dollar AI Bet

Subsea 7 (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SUBCY#OTC">SUBCY</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $(0.03) by 400 percent. The company reported quarterly sales of $1.395 billion which missed the analyst consensus estimate of $1.492 billion by 6.53 percent. This is a 11.96 percent increase over sales of $1.246 billion the same period last year.

Earnings Beats

SUBCY

Subsea 7 Q1 2024 GAAP EPS $0.09 Beats $(0.03) Estimate, Sales $1.395B Miss $1.492B Estimate

Pershing Square founder Bill Ackman has in the past made <a href="https://www.benzinga.com/news/23/09/34429616/bill-ackman-calls-for-strong-alternatives-to-very-beatable-biden-and-trump-but-tells-why-he-wont-run">no bones about his displeasure</a> about President Joe Biden&#8217;s handling of his job and on Wednesday, he categorically ruled out voting for the incumbent.
Biden Or Trump: &#8220;For anyone who is still confused on the topic, I am not voting for Biden,&#8221; he said in a post on X, formerly Twitter. When a conservative journalist prodded him as to whether he would vote for probable Republican nominee Donald Trump, he did not rule out the possibility.
&#8220;And yes, I am open to voting for [Donald Trump],&#8221; Ackman said. But he hinted that he could make his final choice closer to the election date. &#8220;I will share whom I am supporting when I make my decision closer to the election. I like to preserve optionality,&#8221; he said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For anyone who is still confused on the topic, I am not voting for Biden.
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1783294245215908143?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In a separate thread, replying to a social-media user&#8217;s question as to whether he has ever voted for a Republican, Ackman said he voted for Trump in 2016.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Hostage Issue: Separately, Ackman responded to a post regarding the White House&#8217;s briefing on Biden signing the Ukraine and Israeli aid bill into law. The hedge-fund manager slammed the president for not acting decisively on the hostages being held in Gaza.
&#8220;I have not heard @potus Biden take ownership of this issue,&#8221; Ackman said.
&#8220;I have heard him talk about calls for a ceasefire, shrinkflation, hotel fees, and four more years, but not the fact that hostages including American hostages are still being held in Gaza.&#8221;
This is evident from the president&#8217;s delegation to staff and what he speaks to the American public, Ackman said. &#8220;He has not made clear that returning the hostages is high on his priority list. He is too focused on other talking points in an attempt to get re-elected. And the media are letting him off the hook on this issue,&#8221; he added.
The hostage issue came to the centerstage on Wednesday after Hamas released a <a href="https://www.nytimes.com/live/2024/04/24/world/israel-gaza-war-hamas">video</a> of Israeli-American  Hersh Goldberg-Polin, who was taken captive during the Oct. 7 Hamas strikes against Israel. 
Ackman has in the past expressed hopes that<a href="https://www.benzinga.com/news/23/03/31469332/not-biden-bill-ackman-says-this-corporate-ceo-more-likely-to-win-against-trump-in-presidential-race"> JPMorgan CEO Jamie Dimon would throw in his hat in the ring </a>and contest in the Democratic primary. He previously approved of businessman Vivek Ramaswamy, who has since then dropped off the race. The fund manager was also found backing Democrat turned-independent candidate Robert Kennedy Jr.&#8217;s stance on the COVID-19 vaccine. In January, he denoted $1 million to support Rep. Dean Phillips (D-Minn.) to become the Democratic nominee in the 2024 presidential election. Phillips quit the race in early March.
Read Next: <a href="https://www.benzinga.com/news/24/02/37253969/bill-ackman-reveals-first-investment-book-he-read-was-the-same-one-that-influenced-warren-buffett-it">Bill Ackman Reveals First Investment Book He Read Was The Same One That Influenced Warren Buffett: &#8216;It Was Kind Of The Inspiration For My Career…&#8217;</a>
Trump vs Biden illustration was generated using artificial intelligence via MidJourney.

Politics

Media

Bill Ackman Says 'Not Voting For Biden,' Slams President For Inaction On American Hostage Issue: 'Too Focused On Other Talking Points…To Get Re-elected'

Reported Earlier, U.S. Bancorp's Subsidiary Elavon Partners Withg FreedomPay To Revolutionize Payments In European Hospitality And Retail Sectors

Dearborn-based Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is now prioritizing hybrid vehicles in a bid to diversify its offerings and withstand the <a href="https://www.benzinga.com/news/earnings/24/04/38417196/ford-q1-earnings-highlights-automaker-beats-street-estimates-guidance-improves-ev-revenue-falls-84">dwindling demand and price war within the EV market. </a>
What Happened: &#8220;We&#8217;re learning about the importance of choice. Our growth in the first quarter in hybrids is a good example&#8221; Ford CEO Jim Farley said during the company&#8217;s first-quarter earnings call on Wednesday. 
Ford&#8217;s global hybrid sales were up 36% year-on-year in the first quarter and the company is eyeing a growth of 40% for 2024. 
Competition From Foreign Players: The U.S. hybrid market is dominated by foreign players like Toyota and Honda. Ford is ranked below the two but is optimistic about carving out a share of the market for itself. 
&#8220;Our hybrid capacity is in trucks. That&#8217;s where most of our hybrid sales are in North America. And we don&#8217;t see a lot of competition so far for that business. We&#8217;ll see over time,&#8221; Farley said.
Ford is now looking to offer hybrid options across its lineup. The process, Farley says, does not require inventing new powertrains. 
&#8220;It doesn&#8217;t require wholesale inventing new powertrains. But it does involve some engineering and investment in capacity. I would say kind of modest investments, mostly in the capacity side and some engineering,&#8221; he said.
Other U.S. Players And Hybrids: Tesla CEO Elon Musk on Tuesday slammed the decision of other car manufacturers to pull back on EVs and offer hybrids instead. 
&#8220;We believe this is not the right strategy and electric vehicles will ultimately dominate the market,&#8221; Musk said. 
Detroit-based General Motors does not offer any hybrids in the U.S. as of now. However, in February, GM CEO Mary Barra said that the company plans to introduce <a href="https://www.benzinga.com/news/24/02/36906793/gm-chief-mary-barra-rewrites-roadmap-plug-in-hybrids-to-deliver-green-goals-a-ev-growth-slows" target="_blank" rel="noreferrer noopener">plug-in hybrid technology</a> in select North American vehicles in the coming years despite its vision to stop selling combustion-engine light-duty vehicles by 2035. For 2024, however, pure electric vehicles are the focus, she added.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta">Tesla Will Solve Autonomy ‘Even If I Got Kidnapped By Aliens Tomorrow,' Says Elon Musk As He Reveals Talks With ‘Major Automaker' For FSD Licensing</a>

Ford Positive About Hybridization Of Vehicle Lineup Despite Competition From Honda, Toyota: 'We're Learning About The Importance Of Choice...'

Omeed Malik, founder and CEO of Farvahar Partners, recently voiced his concerns over the TikTok crackdown bill signed by President Joe Biden, expressing distrust in the bill and its implementation.
What Happened: During CNBC&#8217;s &#8220;Last Call&#8221; on Wednesday, Malik stated, "I really have an issue with what TikTok is doing to society. With all of that said… I don't trust this bill that was passed, and I certainly don't trust the Biden administration to implement it fairly." 
Malik, who had previously vouched for a ban on TikTok and the decoupling of the app from China, explained that the text of the bill was &#8220;way too vague.&#8221; He expressed his worries about the bill&#8217;s broad language, which he fears could be used to target any individual or platform deemed &#8220;subject to the direction of a foreign power.&#8221;
&#8220;I am very concerned about that language because that same language was used against our former president of the United States [Donald Trump] for three years when they called him a Russian asset. Does that mean that Truth Social now should be banned as well? What does it mean for Rumble? Or X?&#8221;
Malik also criticized the outdated social media laws in the country, calling for the removal of legal liability shields from big tech companies and the implementation of antitrust laws to break them up. He urged for a bill of rights around privacy to prevent data misuse by all companies, not just TikTok.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"I really have an issue with what TikTok is doing to society, with all of that said… I don't trust this bill that was passed, and I certainly don't trust the Biden administration to implement it fairly," says <a href="https://twitter.com/RealOmeedMalik?ref_src=twsrc%5Etfw">@RealOmeedMalik</a> on Pres. Biden signing the TikTok crackdown bill. <a href="https://t.co/NmVRZwbri6">pic.twitter.com/NmVRZwbri6</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783279548429115814?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO: &#8216;What He&#8217;s Done, Nobody Else Has Ever Done&#8217;</a>
Why It Matters: The comment was in response to President <a href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats">Biden signing the bill</a> that could potentially ban or lead to the sale of TikTok, a popular social media platform owned by Chinese company ByteDance.
The bill, which was passed with a Senate vote of 79-18, gives ByteDance a nine-month window to sell the app or face a national ban. The President also has the option to extend this period by 90 days.
The signing of the bill has sparked controversy and debate. TikTok&#8217;s CEO, Shou Zi Chew, has publicly opposed the legislation, stating, "Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice." 
The platform has vowed to <a href="https://www.benzinga.com/markets/asia/24/04/38418913/tiktok-fights-back-we-arent-going-anywhere-whats-next-for-users">fight back against the legislation,</a> marking a significant development in the ongoing debate over TikTok&#8217;s Chinese ownership.
Read Next: <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of&nbsp;<a target="_blank" href="https://www.benzinga.com/author/benzinga-neuro" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

General

Expert Slams TikTok Ban Bill As 'Way Too Vague,' Questions Impact On Donald Trump's Truth Social, Rumble And X

Dearborn-based Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), on Wednesday, reiterated its commitment to cutting costs in its EV segment to <a href="https://www.benzinga.com/news/earnings/24/04/38417196/ford-q1-earnings-highlights-automaker-beats-street-estimates-guidance-improves-ev-revenue-falls-84">counter its growing losses</a> and withstanding the ongoing price war. 
What Happened: Ford is eyeing hitting profitability in its EV segment with the launch of its next generation of EVs. However, the launch timeline of these vehicles is currently under wraps. In the meantime, the company is looking to cut costs of the business, CFO John Lawler said during the company&#8217;s first-quarter earnings call on Wednesday. 
&#8220;We&#8217;re going to continue to work on driving every dollar of cost out of the business in the near term,&#8221; he said. 
But revenue over the past several months is dropping faster than the company is able to reduce costs, Lawler conceded, referring to the price war triggered by EV giant Tesla which forced others <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38039584/fords-price-cuts-send-mustang-mach-e-sales-soaring-in-weeks-but-next-decade-will-be">including Ford to cut prices </a>to retain their market share. 
 &#8220;If the pricing stabilizes and we don&#8217;t see these significant reductions continuing across the industry, then I think that you could probably start to see some of those cost reductions flow to the bottom line,&#8221; he said. 
While at the onset of EV adoption customers were willing to pay a premium for an EV, they are now looking for cheaper options, Lawler noted. 
&#8220;We think that prices for EVs are going to normalize around where gas is and the consumers are going to weigh the value proposition of that propulsion choice,&#8221;&nbsp;Lawler said while adding that the company does not see EV prices falling below gas vehicle prices.
Why It Matters: Ford&#8217;s EV segment called &#8220;Model e&#8221; posted an EBIT loss of $1.3 billion in the first quarter, a drastic jump from the EBIT loss of $0.7 billion reported in the corresponding quarter of 2023. 
Revenue, likewise, fell 84% year-on-year to $0.1 billion, partly due to the industry-wide pricing pressure. 
For 2024, Ford expects its EV division to post an EBIT loss between $5.5 billion and $5 billion, widening from the EBIT loss of $4.7 billion recorded last year. 
Image Via Shutterstock
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" target="_blank" rel="noreferrer noopener">Tesla Will Solve Autonomy ‘Even If I Got Kidnapped By Aliens Tomorrow,&#8217; Says Elon Musk As He Reveals Talks With ‘Major Automaker&#8217; For FSD Licensing</a>

Ford CFO Says EV Price Cuts Bringing Down Revenue Faster Than Company Can Cut Costs; 'If The Pricing Stabilizes...'

Allison 3414 Regional Haul Series&trade; (RHS) and 4000 Series&trade; now available to order as the exclusive fully automatic in International RH and HX Series trucks, respectively.

ALSN

Reported Earlier, Allison Fully Automatic Transmissions Selected For International Truck's Latest S13 Models

Nasdaq provided the Company 60 days to submit a plan to regain compliance with the Rule (the &quot;Plan&quot;).&nbsp; The Company intends to submit its plan of compliance to Nasdaq by June 17, 2024.&nbsp;

HRYU

Reported Earlier, Hanryu Holdings Receives Delinquency Notice From Nasdaq For Late Annual Report Filing

IPOs

RBRK

Reported Earlier, Rubrik Prices Upsized Initial Public Offering Of 23.5M Class A Common Shares At $32/Share

<ul>
<li>Advances Labcorp strategy to launch and scale specialty testing&nbsp;in areas such as oncology and rare diseases</li>
<li>Transaction requires court approval, with confirmation expected on&nbsp;May 6, 2024</li>
</ul>

Laboratory Corporation Of America Holdings

NVTA

Reported Earlier, Labcorp Wins Bid For Invitae Assets To Boost Specialty Testing In Oncology And Rare Diseases

<ul>
<li>Walgreens Specialty Pharmacy combines existing specialty assets, fully integrates AllianceRx and represents the company&#39;s latest step to leverage its neighborhood pharmacies into fast-growing areas of healthcare</li>
<li>Investments include new Gene &amp; Cell Services Pharmacy and Innovation Center</li>
</ul>

Reported Earlier, Walgreens Launches New Gene And Cell Therapy Services, Expands Specialty Pharmacy Offerings

SK Hynix, a key supplier to NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has reported its first profitable quarter in five, attributing the turnaround to soaring demand for AI chips.
What Happened: The South Korean memory chip manufacturer recorded a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, a stark contrast to the 2.58 trillion won loss in the same period last year, CNBC <a href="https://www.cnbc.com/2024/04/25/nvidia-supplier-sk-hynix-reverses-losses-in-first-quarter-on-ai-demand.html">reported</a>. This marks SK Hynix&#8217;s first positive income since the third quarter of 2022.
The company attributes its strong performance to the increased sales of AI server products, driven by its leadership in AI memory technology, particularly high-bandwidth memory. This technology is crucial for AI chipsets, such as those used by Nvidia.
The demand for AI chipsets has significantly boosted the high-end memory chip market, benefiting major players like SK Hynix and Samsung Electronics.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Sees Nvidia As Going &#8216;From Star Of The Show To Being The Goat Of The Game&#8217;</a>
SK Hynix plans to meet the increasing demand for AI memory by boosting the supply of HBM3E, the latest generation of high-bandwidth memory for AI. The company also intends to introduce 32GB Double Data Rate 5 products this year to strengthen its position in the high-capacity server DRAM market.
"We will continue to work towards improving our financial results by providing the industry's best performing products at a right time and maintaining the profitability-first commitment," said Chief Financial Officer Kim Woohyun.
Why It Matters: The surge in AI chip demand is a result of the growing adoption of large language models like ChatGPT, which rely on high-performance memory chips to generate human-like responses. This trend has led to a significant increase in the demand for high-performance memory chips, benefiting companies like SK Hynix and Samsung Electronics, according to the report.
SK Hynix&#8217;s financial turnaround comes amid a broader resurgence in the South Korean semiconductor industry. In December, Samsung Electronics and <a href="https://www.benzinga.com/government/23/12/36408195/south-koreas-semiconductor-surge-samsung-and-sk-hynix-shatter-records-with-unprecedented-production">the South Korean semiconductor industry</a> experienced substantial growth, marking a significant rebound in production and shipments.
SK Hynix&#8217;s recent financial success is also tied to its strategic investments in the U.S. semiconductor industry. The company announced plans to invest $3.9 billion in an advanced chip-packaging facility in West Lafayette, Indiana, <a href="https://www.benzinga.com/government/24/04/38089624/nvidia-to-benefit-from-sk-hynixs-new-3-9b-indiana-facility-focused-on-high-bandwidth-memory-chips">to mass-produce high-bandwidth memory (HBM)</a>, crucial for powering NVIDIA GPUs used in AI systems training, like ChatGPT. 
This investment underscores the region&#8217;s growing appeal in the semiconductor sector, fueled by the Biden administration&#8217;s efforts to restore America&#8217;s global standing in chip manufacturing and the incentives from the $53 billion Chips Act.
Read Next: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump</a>
Image Via Shutterstock 
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Asia

NVDA

Nvidia Supplier SK Hynix Sees First Profit In 5 Quarters, Credits AI Chip Demand

Whales, the colossal beings of the ocean, are not just a marvel because of their size, but also due to their intriguing behaviors and physiological mysteries. From their unique sleeping patterns to their complex relationships with other marine animals, whales continue to fascinate scientists and ocean lovers alike. Let&#8217;s dive deep and explore some of the most fascinating facts about these fascinating gentle giants you probably didn&#8217;t know!
1. How Whales Sleep
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030418/image-194-1024x585.png" alt="" class="wp-image-307987" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030418/image-194-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030418/image-194-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030418/image-194-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030418/image-194-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030418/image-194.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Whales practice unihemispheric slow-wave sleep which allows them to shut down half of their brains: Image Generated Via Dall-E</figcaption></figure>
Ever wondered how a creature as enormous as a whale catches some Z&#8217;s? Whales have a mesmerizing way of sleeping: they shut down only half of their brain along with the opposite eye. The other half stays awake to help them come up for air and to stay alert for potential threats. This unique sleep method is known as unihemispheric slow-wave sleep.
2. Whales&#8217; Surprising Diet
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030429/image-195-1024x585.png" alt="" class="wp-image-307988" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030429/image-195-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030429/image-195-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030429/image-195-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030429/image-195-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030429/image-195.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Despite their large size, whales eat the smallest of marine life. Image Generated Via Dall-E</figcaption></figure>
Despite their massive size, many whales feed on some of the smallest marine life. Baleen whales, for example, sieve tiny krill and plankton through their baleen plates, consuming up to 4,000 pounds of these tiny creatures each day!
3. The Orca-Humpback Feud
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030437/image-196-1024x585.png" alt="" class="wp-image-307989" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030437/image-196-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030437/image-196-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030437/image-196-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030437/image-196-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030437/image-196.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Orcas and Humpback whales have a long-standing dispute. Image Generated Via Dall-E</figcaption></figure>
It seems there&#8217;s some marine drama! Humpback whales are known to have a particular disdain for orcas, also known as killer whales. Humpbacks will often intervene if they see orcas attacking other marine mammals, sometimes even coming to the rescue of seals or other whales!
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
4. Beluga Whale Quirks
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030457/image-198-1024x585.png" alt="" class="wp-image-307991" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030457/image-198-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030457/image-198-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030457/image-198-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030457/image-198-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030457/image-198.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Beluga Whales are often referred to as the &#8216;canaries of the sea.&#8217; Image Generated Via Dall-E</figcaption></figure>
Beluga whales, often called the &#8220;canaries of the sea,&#8221; are famous for their wide range of vocalizations. These white whales can mimic a variety of sounds and are known to be especially chatty among their peers.
5. Whales Cannot Breathe Underwater
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030505/image-199-1024x585.png" alt="" class="wp-image-307993" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030505/image-199-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030505/image-199-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030505/image-199-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030505/image-199-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030505/image-199.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Despite living in the seas, whales cannot breathe underwater. Image Generated Via Dall-E</figcaption></figure>
Unlike fish, whales can&#8217;t breathe underwater. They are mammals, just like us, and need to surface regularly to breathe air through their blowholes. This adaptation requires them to have a conscious control over their breathing even while sleeping.
6. Whale Songs
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030510/image-200-1024x585.png" alt="" class="wp-image-307994" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030510/image-200-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030510/image-200-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030510/image-200-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030510/image-200-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030510/image-200.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Whale Songs are known to be haunting yet beautiful. Image Generated Via Dall-E</figcaption></figure>
Some whale species are known for their haunting and beautiful songs, especially the humpback whales. These melodies are complex and often sung by the males in a population. Scientists believe these songs play a role in mating rituals and social bonding.
7. Whales&#8217; Life Span
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030528/image-201-1024x585.png" alt="" class="wp-image-307995" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030528/image-201-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030528/image-201-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030528/image-201-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030528/image-201-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030528/image-201.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Whales have some of the longest lifespans among animals. Image Generated Via Dall-E</figcaption></figure>
Whales have some of the longest lifespans in the animal kingdom. For instance, bowhead whales can live over 200 years, making them one of the oldest living animal species on Earth.
8. Whales Help the Environment
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030532/image-202-1024x585.png" alt="" class="wp-image-307996" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030532/image-202-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030532/image-202-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030532/image-202-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030532/image-202-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030532/image-202.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Whales have a crucial role to play in the marine ecosystem. Image Generated Via Dall-E</figcaption></figure>
Whales play a crucial role in the marine ecosystem. Their feces are rich in iron and nitrogen, which fertilize plankton. More plankton means more carbon dioxide is absorbed from the atmosphere, significantly contributing to the reduction of global warming.
9. The Migration of Whales
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030543/image-203-1024x585.png" alt="" class="wp-image-307997" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030543/image-203-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030543/image-203-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030543/image-203-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030543/image-203-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030543/image-203.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Whales undertake some of the longest migrations among mammals. Image Generated Via Dall-E</figcaption></figure>
Whales undertake some of the longest migrations among mammals, traveling thousands of miles annually to breed and feed. This journey often brings them from polar feeding grounds to tropical breeding grounds.
10. Whales and Sharks
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030551/image-204-1024x585.png" alt="" class="wp-image-307998" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030551/image-204-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030551/image-204-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030551/image-204-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030551/image-204-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25030551/image-204.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Whales rarely have to worry about Shark attacks. Image Generated Via Dall-E</figcaption></figure>
While sharks are often viewed as the ultimate predators, in the open sea, large whales have very few enemies. Healthy adult whales, such as the massive blue whale, rarely have to worry about shark attacks. However, orcas, a type of whale, are known to prey on sharks!
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>

Entertainment

Whales Can't Breathe Underwater Same As Us Yet Manage To Dive Miles Into The Ocean And Even Sleep Peacefully: 10 Reasons Why These Gentle Giants Fascinate Me So Much

<ul>
<li>Hyundai Motor Group to establish&nbsp;mid- to&nbsp;long-term strategies to solidify its position as a leading mobility provider in&nbsp;India</li>
</ul>
&hellip;&nbsp;&nbsp; Hyundai Motor India to establish an annual production system of one million units by 2025; Combined with Kia India, Hyundai Motor Group to be able to annually produce 1.5 million units annually in&nbsp;India
&hellip;&nbsp;&nbsp; Electrification strategy to strengthen leadership in the Indian EV market by expanding EV local production and lineups as well as creating EV ecosystems
<ul>
<li>Executive Chair Chung also had a town hall meeting to share visions and strengthen trust with Hyundai Motor India employees</li>
</ul>
&hellip;&nbsp;&nbsp; Approximately 400 local employees attended the site, while over 3,000 joined through a video connection across all Hyundai Motor sites in&nbsp;India
&hellip;&nbsp;&nbsp; Executive Chair highlighted the Group&#39;s customer-centric philosophy, strategic importance of&nbsp;India&nbsp;as well as electrification strategies and future directions
<ul>
<li>Hyundai Motor Group to continue seek future growth strategies in&nbsp;India, which has emerged as the world&#39;s fifth largest economy and top three automobile markets</li>
</ul>

HYMTF

Hyundai Motor Group's Executive Chair Euisun Chung Visits India To Reinforce Long-Term Mobility Strategies

Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is set to release earnings results for its first quarter before <a href="https://www.benzinga.com/quote/HON/earnings">the opening bell on April 25, 2024.</a>
Analysts expect the Charlotte, North Carolina-based company to report quarterly earnings at $2.17 per share, up from $2.07 per share in the year-ago period. Honeywell is projected to report quarterly revenue of $9.03 billion, up from $8.52 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Last month, Honeywell disclosed the intention to acquire all outstanding shares of Civitanavi Systems S.p.A.
Honeywell shares fell 0.7% to close at $194.79 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/HON/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Deutsche Bank analyst Nicole Deblase downgraded the stock from Buy to Hold and cut the price target from $227 to $215 on April 16, 2024. This analyst has an accuracy rate of 80%.</li>
<li>Barclays analyst Julian Mitchell maintained an Overweight rating and boosted the price target from $230 to $232 on April 2, 2024. This analyst has an accuracy rate of 76%.</li>
<li>RBC Capital analyst Deane Dray maintained a Sector Perform rating and cut the price target from $210 to $209 on Feb. 2, 2024. This analyst has an accuracy rate of 74%.</li>
<li>UBS analyst Chris Snyder maintained a Sell rating and cut the price target from $185 to $180 on July 28, 2023. This analyst has an accuracy rate of 72%.</li>
<li>Morgan Stanley analyst Joshua Pokrzywinski maintained an Equal-Weight rating and increased the price target from $213 to $219 on May 1, 2023. This analyst has an accuracy rate of 74%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/04/38402061/jim-cramer-says-this-energy-stock-is-terrific-calls-caseys-general-stores-a-winner">Jim Cramer Says This Energy Stock Is &#8216;Terrific,&#8217; Calls Casey&#8217;s General Stores A &#8216;Winner&#8217;</a>

Price Target

Pre-Market Outlook

Honeywell Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/penny-stocks/">Penny stocks</a> stand among the most volatile assets. But some investors can find penny stock powerhouses. Those are the ones that see their valuations grow as they tap into key markets with secular tailwinds and emerging trends. So, big returns are certainly possible.



Of course, the inverse is also true. Most penny stocks trade at depressed levels for a reason. While certain companies fly high from time to time, it&rsquo;s hard to time these moves. It&rsquo;s even hard to find the kinds of penny stock powerhouses that can continue to surge over time and provide meaningful value.



Thus, these three stocks fit into this category right now. These companies have real meaningful growth catalysts and are trading at a fraction of their potential long-term value. Let&rsquo;s dive in!



<h2>Surge Battery Metals Inc. (NILIF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/ev-solid-state-battery1600-300x169.png" alt="Solid State Battery for EV Electric Vehicle, new research and development batteries with solid electrolyte energy storage for automotive car industry, cathode. 3d illustration. Top Battery Stocks to Buy"><div>Source: Just_Super / Shutterstock.com</div></div>Surge Battery Metals (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nilif-stock-quote/">NILIF</a>) announced the discovery of the highest-grade U.S. clay resource at its <a href="https://www.proactiveinvestors.com/companies/news/1044384/itaconix-ceo-outlines-future-growth-despite-short-term-revenue-setback-1044384.html">Nevada North lithium project</a> on February 22.&nbsp;



The company unveiled its initial mineral resource estimate after surface sampling and drilling from 2021 to 2023. It showcases a substantial lithium resource with a high-grade segment. Also, it positions it as the most significant and highest-grade in the U.S. Further, the company plans to collaborate with lithium processing experts for optimization. Additionally, NILIF intends to expand exploration efforts for further resource enhancement.&nbsp;



For those bullish on the future demand for lithium (and therefore lithium prices), finding companies like this with excellent reserves is a great way to play this space. Notably, Surge Battery Metals&rsquo; discovery is on U.S. soil. This should bode well for those watching the geopolitical landscape shift in this space.



With more lithium needed (and much more in the U.S., importantly), Surge Battery Metals has a unique runway for growth many penny stocks don&rsquo;t have. Therefore, NILIF is a penny stock powerhouse to buy and hold right now.



<h2>Bitfarms (BITF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/bitf1600-300x169.png" alt="Bitcoin and crypto mining farm. Big data center. High tech server computers at work. Bitfarms (BITF) mines crypto."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock.com</div></div>As a Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) mining company, Bitfarms (NASDAQ:<a href="https://investorplace.com/stock-quotes/bitf-stock-quote/">BITF</a>) is a stock that&rsquo;s come into focus, given Bitcoin&rsquo;s recent rise. A smaller player in this space, one might think that BITF stock should be soaring, given that Bitcoin has <a href="https://coinmarketcap.com">traded above the $65,000</a> level for some time. 



Unfortunately, the upcoming Bitcoin halving event will hurt the company&rsquo;s revenue generation capabilities. And this will happen at a time when competition is heating up in this space. This has led the stock lower year to date (YTD). So its only hope comes from surging Bitcoin prices over time. 



As a Bitcoin bull, that&rsquo;s my thesis, at least for the next five years. Bitcoin adoption continues to pick up, and institutional interest has remained strong. This halving should push prices higher in the coming months, and Bitfarms should benefit.



Also, the company plans to acquire additional operational capacity by end of 2024. The <a href="https://twitter.com/Bitfarms_io/status/1775177016230183064?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1775177016230183064%7Ctwgr%5E1cd7d16a8c4c7b33957a0ca9379834e37532760f%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcoingape.com%2Fbitfarms-acquires-87796-miners-as-halving-race-deepens%2F">announcement</a> was made on X, formerly known as Twitter. In response to the success of their current T21 miners and expansion plans, the Bitfarms team is boldly moving strategically to add capacity ahead of the upcoming Bitcoin halving. With the addition of 87,796 new miners to their existing 35,888 Bitmain T21s, the team aims to achieve 21 EH/s operational capacity by year-end. 



If the price of Bitcoin goes on a run again, this is a stock investors will want exposure to. It&rsquo;s one I think is very speculative at current levels. But for those bullish on Bitcoin, Bitfarms could be the best way to play this space.



<h2>The Metals Company (TMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/rig_transocean1600-300x169.png" alt="An image of an offshore oil rig"><div>Source: Arild Lilleboe / Shutterstock.com</div></div>Deep-sea mining The Metals Company (NASDAQ:<a href="https://investorplace.com/stock-quotes/tmc-stock-quote/">TMC</a>) recently reported its Q4 2023 earnings report. The numbers were a mixed bag, reporting a $15.2 million cash burn alongside a $33.5 million net loss.



But, the company&rsquo;s net losses have shrunk, as the company moves toward commercial production viability. Last year&rsquo;s net loss totaled over $73.8 million, lower than the company&rsquo;s 2022 net loss of $171 million. 



Also, TMC has $6.8 million in cash, with pro forma liquidity of $61 million. This includes cash, additional proceeds from a Registered Direct Offering, and unsecured credit facilities extended by Allseas Group SA and ERAS Capital LLC. 



Underestimated by Wall Street, TMC plans to revolutionize and innovate more deep-sea mining projects that can extract polymetallic nodules. While this stock poses a high-risk option for investors, deep-sea mining could be the future. Presently, The Metals Company is the premier way to play this space for the long term.



On Penny Stocks 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 MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/penny-stock-powerhouses-3-picks-ready-to-soar-1000-in-2024/">Penny Stock Powerhouses: 3 Picks Ready to Soar 1,000% in 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Penny Stock Powerhouses: 3 Picks Ready to Soar 1,000% in 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In my view, it&rsquo;s the best time to grab undervalued <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> for multibagger returns.



The first reason for this view is the point that rate cuts are impending in the second half of 2024. Easy money policies translate into higher interest (and speculation) in growth and penny stocks. I therefore expect the markets to be supportive in the coming quarters.



The second reason is focus on most undervalued penny stocks to buy in April that these companies have potential catalysts. If these catalysts pay-out in the coming quarters, these emerging companies will grow at a stellar pace and create value.



I must add that the initial horizon for these undervalued penny stocks is until the end of 2024. However, as these stories develop, the investment horizon can be expanded for 5x to 10x returns.



Let&rsquo;s talk about the factors that make these penny stocks worth considering.



<h2>Ring Energy (REI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/oil-stocks1600-300x169.png" alt="Oil. 3D Illustration. Oil stocks are up."><div>Source: Pavel Ignatov / Shutterstock.com</div></div>With oil trending higher, Ring Energy (NYSE:<a href="https://investorplace.com/stock-quotes/rei-stock-quote/">REI</a>) is among the most undervalued penny stocks to buy in April. There are multiple reasons to be bullish on oil for the coming quarters. First, rate cuts are impending and that&rsquo;s likely to boost industrial commodity and energy prices.



Further, OPEC and allies have maintained their stance on production cut. Escalating geopolitical tensions are also likely to support oil on the upside. It&rsquo;s therefore a good time to accumulate oil and gas stocks.



Ring Energy looks attractive at a current market valuation of $413 million. The PV10 (<a href="https://d1io3yog0oux5.cloudfront.net/_33cd5d87d9ae1f3681b3b7863c021ea9/ringenergy/db/856/7741/pdf/Ring+Energy+2024+Roth+Conference+Investor+Presentation+3-18-24.pdf">present value of future oil revenues</a>, net of direct cost) of Company&rsquo;s assets stands at $1.65 billion. Further, with higher realized oil price, Ring Energy is positioned to deliver EBITDA margin expansion and cash flow upside.



It&rsquo;s also worth noting that the Company has pursued multiple acquisitions in the last few years. This has ensured that production growth remains robust. A combination of higher production and an increase in realized oil price will imply stellar growth.



<h2>Tilray Brands (TLRY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/tlry_tilray_1600-300x169.png" alt="In this photo illustration Tilray (TLRY) logo of a Canadian pharmaceutical and cannabis company is seen on a mobile phone and a computer screen."><div>Source: viewimage / Shutterstock.com</div></div>In the last few months, I have talked about Tilray Brands (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlry-stock-quote/">TLRY</a>) in multiple instances. It&rsquo;s worth noting that in the last one month, TLRY stock has skyrocketed by 59%. In my view, the rally from deeply oversold levels is likely to sustain.



With Presidential elections due in November, I expect significant price action in the cannabis industry. It&rsquo;s worth noting that Germany recently legalized cannabis. Further, the U.S. Food and Drug Administration has recommended reclassification of cannabis as a Schedule III drug. It&rsquo;s likely that federal level legalization of cannabis will be a part of the election promise. Therefore, things seen optimistic on the regulatory front and that the reason for TLRY stock trending higher.



At the same time, financial developments have been positive for the Company. In Q2 2024, Tilray <a href="https://ir.tilray.com/news-releases/news-release-details/tilray-brands-delivers-record-q2-fiscal-2024-net-revenue">reported revenue growth of 34%</a> on a year-on-year basis to $194 million. Growth was fuelled by the international medicinal cannabis segment. With Q3 2024 results due next week, I am expecting further upside in the stock backed by strong numbers.



<h2>Bitfarms (BITF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/bitf1600-300x169.png" alt="Bitcoin and crypto mining farm. Big data center. High tech server computers at work. Bitfarms (BITF) mines crypto."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock.com</div></div>Bitfarms (NASDAQ:<a href="https://investorplace.com/stock-quotes/bitf-stock-quote/">BITF</a>) is among the most attractive Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) miners to buy. While the crypto currency has surged for year-to-date, BITF stock has declined by 25%. The primary reason for this correction is equity dilution with the Company raising $375 million. With ambitious expansion plans, I believe that BITF stock will make a strong comeback after some consolidation.



At the end of 2023, Bitfarms reported hash rate capacity of 6.5EH/s. The Company is planning to <a href="https://d1io3yog0oux5.cloudfront.net/_2f28bdcc893c3530b329f7c6a21cba20/bitfarms/db/862/8429/pdf/BITF.04.01.24Preso.Final.pdf">increase capacity to 21EH/s</a> by the end of 2024. This will translate into healthy revenue growth. Further, with Bitfarms being a low-cost Bitcoin miner, I expect significant EBITDA margin expansion and cash flow upside.



It&rsquo;s also worth noting that Bitfarms has a zero-debt balance sheet. Therefore, there is ample financial flexibility to plan the next leg of expansion for 2025. If this is associated with new highs for Bitcoin, I expect BITF to deliver multibagger returns in the next 18 months.



On the date of publication, Faisal Humayun did not hold (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&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-3-most-undervalued-penny-stocks-to-buy-in-april-2024/">The 3 Most Undervalued Penny Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Most Undervalued Penny Stocks to Buy in April 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Exploring the stocks that could turn $100 into $1,000 reveals the thrilling potential of the penny stock market.



Don&rsquo;t get your hopes up so fast, though. The Fear and Greed Index has dipped back into &lsquo;neutral&rsquo; territory from &lsquo;greed&rsquo; last month. However, with the backdrop of impending interest rate cuts, I expect that scenario to change dramatically later in the year. The three interest rate cuts expected in the latter half of the year could inject additional vitality into the market. This could offer healthy upside potential in penny stock bets.



Nevertheless, it&rsquo;s important to be proactive ahead of a major breakout in the <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> discussed in the article. You won&rsquo;t have to think that hard either. Investors can easily scoop up a substantial number of shares from all three stocks that could turn $100 into $1,000.



<h2>Grab (GRAB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1922313167-300x169.png" alt="Motorcycle helmet with Grab logo on a motorcycle parked at the road side"><div>Source: Nor Sham Soyod / Shutterstock.com</div></div>Grab (NASDAQ:<a href="https://investorplace.com/stock-quotes/grab-stock-quote/">GRAB</a>) is a powerhouse in the fast-growing Southeast Asian ride-hailing and delivery. Its gig economy platform has effectively tapped into the burgeoning middle class in one of the world&rsquo;s most dynamic regions. Additionally, its commitment to organic growth and innovation, through its recent strategic AI investments, signals a clear path toward sustained profitability. CFO Peter Oey is going all-in on AI to effectively streamline operations and <a href="https://www.wsj.com/tech/grab-targets-organic-growth-ai-tools-in-path-to-profitability-interview-3a6ebfc1?mod=business_lead_pos1">expand product offerings</a>.



Moreover, its leap into profitability, following its impressive fourth quarter (Q4) earnings report, marks a major milestone. An $11 million profit not only signals robust financial health but is a testament to Grab&rsquo;s effective AI-driven enhancements in marketing, menu translation and customer service. This strategic embrace of AI sets a promising stage for rapid market growth and long-term gains.



<h2>Bitfarms (BITF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/bitf1600-300x169.png" alt="Bitcoin and crypto mining farm. Big data center. High tech server computers at work. Bitfarms (BITF) mines crypto."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock.com</div></div>The choppiness in&nbsp;Bitcoin&nbsp;(<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) prices of late is merely a smokescreen, obscuring its massive long-term potential. Moreover, with crypto investors gearing up for the anticipated halving event in April, estimates are soaring as high as $100,000 for BTC. Also, the expected rate cuts this year could be another shot in the BTC&rsquo;s proverbial arm.&nbsp;



This backdrop makes Bitcoin miners like&nbsp;Bitfarms&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bitf-stock-quote/">BITF</a>) particularly enticing, especially considering how <a href="https://seekingalpha.com/symbol/BITF/momentum/performance">it is down 25% year-to-date</a>. That had a lot to do with equity dilution concerns, with Bitfarms having recently moved to raise $375 million. This financial infusion is set to turbocharge its operations, which is expected to triple its mining power at the end of this year. The planned increase from <a href="https://investor.bitfarms.com/news-events/press-releases/detail/234/bitfarms-announces-march-2024-production-and-operations">6.5 EH/s to 21 EH/s</a> represents a 223% bump in computing power, leading to vigorous top-line expansion ahead.



<h2>Taboola (TBLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/shutterstock_1837963990-300x169.jpg" alt="TBLA stock: Taboola company website with logo close up. Stocks That Could Turn $100 into $1,000"><div>Source: Postmodern Studio / Shutterstock</div></div>Taboola&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tbla-stock-quote/">TBLA</a>) is an online advertising giant that&rsquo;s been one of the most consistent players over the years. Its consistent expansion is driven by strategic partnerships, triggering a ripple effect that attracts more brands while broadening its revenue streams in the process.



It wrapped up last year, with solid Q4 earnings <a href="https://www.gurufocus.com/news/2357282/taboolacom-ltd-tbla-reports-strong-q4-net-income-and-record-2024-guidance">where sales jumped</a> 13% YOY to $419.8 million, while adjusted EBITDA rose $50.1 million, outperforming analyst estimates. &nbsp;Furthermore, Taboola forecasts significant growth in 2024, aiming for a sturdy increase in sales at 33% to nearly $2 billion, with its adjusted EBITDA expected to surpass $200 million and <a href="https://seekingalpha.com/article/4612557-taboola-undervalued-well-positioned-swift-recovery">$100 million in free cash flow</a>.&nbsp;



Also, its partnership with Yahoo could potentially bring in $1 billion annually, significantly improving its financials this year and beyond.



On the date of publication, Muslim Farooque 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 Publishing Guidelines
<div>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/from-pennies-to-profits-3-stocks-that-could-transform-your-100-into-a-grand/">From Pennies to Profits: 3 Stocks That Could Transform Your $100 into a Grand</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

From Pennies to Profits: 3 Stocks That Could Transform Your $100 into a Grand

Cipher Mining: Liquid And Worth A Look

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Implementing an investment strategy of buying low-priced stocks may not be for everyone. But if you&rsquo;re a growth-oriented investor who&rsquo;s willing to accept a level of risk, stocks under $7 can be both appealing and profitable.



These stocks under $7 have greater potential for substantial gains because they start off with lower valuations. It&rsquo;s much easier to achieve rapid price increases in response to positive news or market trends when a stock is priced at less than $7.



Many of the names on this list are in the early stages of development or operate in niche markets. An investment exposes you to a potential growth story that could see your investment double over time.



But be cautious. Greater rewards always come with greater risk, and lower-priced stocks can always be more volatile than their higher-priced counterparts. Rapid gains can be followed by sudden losses. 



You need to be prepared for short-term price swings and have the stomach for risk when you&rsquo;re investing in these names.



Fortunately, we have the Portfolio Grader at our disposal. The Portfolio Grader evaluates stocks based on growth history, earnings performance, analyst sentiment, and momentum to help us identify the best stocks on the market.



According to the Portfolio Grader, these stocks under $7 are among the best choices if you want to score with a low-priced stock and have a reasonable risk tolerance.



<h2>SoundHound (SOUN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/soun1600-1-300x169.png" alt="In this photo illustration, the SoundHound logo seen displayed on a smartphone. SOUN stock"><div>Source: rafapress / Shutterstock.com</div></div>Any company that is being smart about incorporating artificial intelligence into its offerings is getting investors&rsquo; attention. And SoundHound (NASDAQ:<a href="https://investorplace.com/stock-quotes/soun-stock-quote/">SOUN</a>) is exceptionally smart about AI.



SoundHound uses AI for its voice recognition products. Employee Assist is a new product that companies can use to help their employees be more productive. 



An employee would pose a question to Employee Assist about a job function, for instance, and get immediate verbal instructions from the SoundHound app about how to do the work.



SoundHound also has products that vehicle owners can use to access their owners&rsquo; manuals and answer questions about maintenance or troubleshooting problems.



SoundHound stock exploded in February when Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) disclosed it owned 1.7 million shares of SOUN stock. Everything Nvidia touches these days turns to gold, and Nvidia is working with SoundHound&rsquo;s AI to create applications.



SOUN stock is priced at less than $7, but I don&rsquo;t think it will be there for long. It&rsquo;s up 128% this year and gets a &ldquo;B&rdquo; rating in the Portfolio Grader.



<h2>Applied Digital (APLD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/artificial-intelligence-brain-network-ai-stocks-1600-300x169.jpg" alt="Black and cyber blue illustration of brain made out of light of circuit board with chip at the center of the brain, representing artificial intelligence (AI) stocks. AI Stocks to Sell"><div>Source: shutterstock.com/cono0430</div></div>Applied Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/apld-stock-quote/">APLD</a>) is a Dallas-based company that designs and operates data centers and digital infrastructure to support high-performance computing and AI products.



The company also provides cloud services and blockchain colocation services, although it recently <a href="https://investorplace.com/2024/03/mara-stock-alert-marathon-digital-is-buying-a-new-bitcoin-mining-campus/">sold</a> a Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) 200-megawatt mining campus to Marathon Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/mara-stock-quote/">MARA</a>) for $97 million. 



Applied Digital says it plans to focus on its high-performing data centers moving forward (which is why it changed its name from Applied Blockchain).



<a href="https://ir.applieddigital.com/news-events/press-releases/detail/81/applied-digital-reports-fiscal-second-quarter-2024-results">Earnings</a> for the fiscal second quarter included revenue of $42.2 million, an increase from $12.3 million a year ago. 



It reported a net loss of $10.5 million and 10 cents per share, which was a marked improvement from a year ago when it lost $26.7 million and 28 cents per share.



APLD stock is down right now, losing 57% so far this year (volatility!) as it lowered its full-year guidance because of delays in the delivery of networking components for its graphics processing unit clusters. 



The company is expected to release more details when it reports fiscal Q3 earnings after the market closes on April 11, so the outlook for this company could change quickly.



For now, APLD stock has a &ldquo;B&rdquo; rating in the Portfolio Grader.



<h2>Elevation Oncology (ELEV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pharmaceuticals_tnxp_1600-300x169.png" alt="medicine research, pharmaceutical background, LJPC stock"><div>Source: Sisacorn / Shutterstock.com</div></div>Medical and pharma stocks are often among Wall Street&rsquo;s most volatile and risky. Developing new drugs is a costly business full of regulatory hurdles and competition. But when a company hits, the returns can be dynamic.



That brings us to Elevation Oncology (NASDAQ:<a href="https://investorplace.com/stock-quotes/elev-stock-quote/">ELEV</a>), a Boston-based company that is working on various <a href="https://elevationoncology.com/pipeline/">cancer therapies</a>. 



The company has two Phase 1 trials for its candidates for treating solid tumors in combination with immunotherapy and targeted agents for gastric, gastroesophageal junction, pancreatic and esophageal cancers.



In February, the company issued its first dose to a patient in Japan as part of a Phase 1 clinical trial for its E0-3021 candidate. Earlier this month, the company issued proof-of-concept for its <a href="https://investors.elevationoncology.com/2024-04-08-Elevation-Oncology-Presents-Preclinical-Proof-of-Concept-Data-for-HER3-ADC-Program-at-AACR-Annual-Meeting-2024">HER3-ADC program</a>, which shows success in treating cancerous cells while minimizing exposure.



Elevation Oncology says it has sufficient funding for its operations through the fourth quarter of 2025, giving it a solid window to continue to fund its research. ELEV stock is up 777% in 2024 and gets a &ldquo;B&rdquo; rating in the Portfolio Grader.



<h2>MicroCloud Hologram (HOLO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/holo1600-300x169.png" alt="concept of metaverse technology man hand holding hologram cyber digital data city landscape real estate building background. meta city landscape Cyberspace. hologram. metaverse concept. HOLO stock"><div>Source: boommaval / Shutterstock.com</div></div>MicroCloud Hologram (NASDAQ:<a href="https://investorplace.com/stock-quotes/holo-stock-quote/">HOLO</a>) &nbsp;is a Chinese software company that works with holographic technology, such as holographic content services, smart car holographic fields, cloud data processing and intelligent visual services.



The company&rsquo;s products can be used in Internet advertising, audio and video applications and automotive electronics manufacturing. 



But as the technology grows, MicroCloud is betting that it will capture a significant piece of the market for holographic hardware development and design and holographic chip design.



MicroCloud has been a volatile meme stock, jumping at one point in February more than 1,700%. In September last year, the stock went even higher when it <a href="https://finance.yahoo.com/news/microcloud-hologram-develops-chatgpt-holographic-170000145.html">announced</a> it was working with OpenAI&rsquo;s ChatGPT to make a holographic virtual digital human.



There are some red flags with MicroCloud, to be sure. The company hasn&rsquo;t done a good job of issuing financial statements, with its Form 10-Q for the first quarter of 2023 being the most recent report available. It&rsquo;s not a company that I would ever consider as a core holding for my portfolio.



But HOLO could be worth a small investment for a speculative investor. It gets a &ldquo;B&rdquo; rating in the Portfolio Grader.



<h2>Clearside Biomedical (CLSD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/biomedical-technology1600-300x169.png" alt="Modern Medical Research Laboratory with Computer, Microscope, Glassware with Biochemicals on the Desk. Scientific Lab Biotechnology Development Center Full of High-Tech Equipment. Biomedical technology stocks, RSLS Stock"><div>Source: Gorodenkoff / Shutterstock.com</div></div>Clearside Biomedical (NASDAQ:<a href="https://investorplace.com/stock-quotes/clsd-stock-quote/">CLSD</a>) is a Georgia company developing treatments for the back of the eye through the suprachoroidal space.



It patented the <a href="https://clearsidebio.com/technology/scs-microinjector/">SCS Microinjector</a> for use as an in-office, non-surgical procedure to deliver treatments to the macula, retina, or choroid of the eye, and possibly relieve patients with vision-threatening diseases.



&nbsp;Now that Clearside has the Microinjector, it&rsquo;s working on its own pipeline of product candidates that can be delivered using its own patented device. Its drug <a href="https://clearsidebio.com/pipeline/cls-ax/">candidate</a> for treating age-related macular degeneration is currently in Phase 2B trials.



Revenue in the fourth quarter of 2023 was $6.3 million, up substantially from $330,000 a year ago. The growing company posted a net loss of $4.8 million and 8 cents per share, which was an improvement from $9.6 million and 16 cents per share in the fourth quarter of 2022.



CLSD stock is up 10% in 2024 and gets a &ldquo;B&rdquo; rating in the Portfolio Grader.



<h2>Nikola (NKLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/nkla1600-300x169.jpg" alt="Image of NKLA logo on phone screen"><div>Source: Stephanie L Sanchez / Shutterstock.com</div></div>Nikola (NASDAQ:<a href="https://investorplace.com/stock-quotes/nkla-stock-quote/">NKLA</a>) is an Arizona-based company that manufactures commercial, heavy-duty battery electric vehicles. Nikola also manufactures a hydrogen-powered EV truck with a range of up to 500 miles.



Nikola provides the infrastructure to produce, distribute and dispense hydrogen, and offers electric vehicle fast-charging infrastructure for its battery-powered EVs.



Revenue for the fourth quarter of 2023 was $11.5 million, up from $5.4 million in the previous year. The company posted a net loss of 153.5 million and 14 cents per share, down from a loss of $222 million and 36 cents per share in the previous year.



NKLA stock is an interesting bet on green power for heavy-duty vehicles. While the stock will be volatile, it&rsquo;s up 14% in 2024 and gets a &ldquo;B&rdquo; rating in the Portfolio Grader.



<h2>Bitfarms (BITF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/bitf1600-300x169.png" alt="Bitcoin and crypto mining farm. Big data center. High tech server computers at work. Bitfarms (BITF) mines crypto."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock.com</div></div>Bitfarms (NASDAQ:<a href="https://investorplace.com/stock-quotes/bitf-stock-quote/">BITF</a>) is a Toronto-based Bitcoin mining company. With the price of Bitcoin up 63% in 2024 and 132% in the last year, Bitcoin mining has become exceptionally profitable.



Bitfarms currently operates 11 farms in Canada, Paraguay, Argentina and the U.S., deploying nearly 66,000 miners to produce the cryptocurrency. While it currently has a production capacity of 6.5 exa hash per second (EH/s), Bitfarms has plans to <a href="https://investor.bitfarms.com/news-events/press-releases/detail/232/bitfarms-purchases-additional-miners-to-reach-21-ehs-in">increase its capacity</a> to 21 EH/s.



In March, Bitfarms produced 286 Bitcoin and sold 284 of them, which at today&rsquo;s prices would be more than $19.5 million in revenue.



The company reported <a href="https://investor.bitfarms.com/news-events/press-releases/detail/230/bitfarms-reports-fourth-quarter-andfull-year-2023-results">revenue</a> of $146 million and an operating loss of $72 million for the year, compared to revenue of $142 million and a loss of $284 million in 2022. 



The company will continue to see losses as it expands its production capacity, but its added capacity bodes well for future profitability.



BITF stock is up 113% in the last 12 months and gets a &ldquo;B&rdquo; rating in the Portfolio Grader.



On the date of publication, Louis Navellier had a long position&nbsp;in&nbsp;NVDA. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.



The InvestorPlace Research Staff member primarily responsible for this article had a long position in BTC and NVDA. The staff member did not hold (either directly or indirectly) any other positions in the securities mentioned in this article.
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The post <a href="https://investorplace.com/market360/2024/04/7-top-stocks-under-7/">7 Top Stocks Under $7</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Top Stocks Under $7

Bitfarms Ltd. (TSE:BITF) has released an update. Bitfarms Ltd., a leader in Bitcoin mining, has significantly enhanced its operations by installing...

Bitfarms Boosts Mining Efficiency with Major Upgrade

Bitfarms reaches 7 EH/s with completion of fleet upgrade at two facilities

Bitfarms Ltd. (TSE:BITF) has released an update. Bitfarms Ltd., a leading global vertically integrated blockchain infrastructure company, has annou...