Bit Origin Stock (NASDAQ:BTOG), Trade Ideas

Bit Origin Ltd is seeking opportunities in deploying new technologies, crypto asset mining and blockchain technologies in Singapore. The company has focused on building the Bitcoin mining ecosystem through incubations, strategic investments, and acquisitions.

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Shares of  LuxUrban Hotels Inc.  (NASDAQ: LUXH) fell sharply during Wednesday’s session after the company issued preliminary fourth-quarter revenue outlook below estimates.

Why LuxUrban Hotels Shares Are Trading Lower By Around 27%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

ADTH

AIRE

ANNX

ATER

BGNE

BIRD

CLOV

CMTL

DLTR

ECDA

EDUC

GXAI

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

HRTX

Kintara Therapeutics, Inc. - Common Stock

KTRA

LICY

LUNA

MINM

MNMD

NAAS

NATR

NCNA

NMRA

PIII

PRTG

RXRX

SIGA

SKIN

SMMT

SURG

SWIN

VERI

VJET

Shares of  Clover Health Investments, Corp. (NASDAQ: CLOV) rose sharply during Wednesday’s session after the company reported better-than-expected fourth-quarter revenue results and issued FY24 insurance revenue guidance.

Why Clover Health Investments Shares Are Trading Higher By 11%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Pre-Market Outlook

AEVA

ATUS

BHIL

HUIZ

PIXY

TNON

ZCMD

Shares of  SurgePays, Inc.  (NASDAQ: SURG) fell sharply in today’s pre-market trading after the company reported worse-than-expected fourth-quarter financial results.

Why SurgePays Shares Are Trading Lower By Around 15%; Here Are 20 Stocks Moving Premarket

Bit Origin Ltd

<a href="https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing" title="https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing">https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing</a>

Macro Economic Events

Economics

Federal Reserve

Fed's Goolsbee Says It's Not Productive To Speculate On Conditions For Raising, Or Cutting, Rates; Determining Policy Restrictiveness Will Depend On The Data

Oppenheimer analyst Jay Olson maintains Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Outperform and lowers the price target from $290 to $270.

Price Target

Analyst Ratings

BIIB

Oppenheimer Maintains Outperform on Biogen, Lowers Price Target to $270

Fed's Goolsbee Says The Puzzle On Housing Inflation Is Why Official Data Is So Different From Market Rents Data; Asked About A Possible Rate Hike If Needed, Says 'Don't Think Anything Is Not On The Table'

Barclays analyst David Anderson maintains Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) with a Overweight and raises the price target from $25 to $27.

LBRT

Barclays Maintains Overweight on Liberty Energy, Raises Price Target to $27

Goldman Sachs analyst Ryan Nash maintains Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) with a Neutral and lowers the price target from $46 to $41.

Goldman Sachs Maintains Neutral on Synovus Finl, Lowers Price Target to $41

<a href="https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing">https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing</a>
&nbsp;

Fed's Goolsbee Says Don't Know If Recent Inflation A Sign Of Overheating

UBS analyst Robin Farley maintains Host Hotels &amp; Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>) with a Neutral and lowers the price target from $21 to $20.

UBS Maintains Neutral on Host Hotels & Resorts, Lowers Price Target to $20

Endexx Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EDXC#OTC">EDXC</a>) reported on Thursday an increase in 2023 revenue and expansion into new global markets.
The Arizona-based company has expanded its presence in international markets. In its recent press release it highlighted revenue contributions from Italy, which accounted for 48% of total revenues.
Continued strong performance in the U.S. and Russia further demonstrated Endexx&#8217;s broad international appeal, the company said.
See also: <a href="https://www.benzinga.com/markets/cannabis/23/09/34731834/cbd-hemp-companys-1013-yoy-revenue-increase-will-raise-more-money-for-aggressive-marketing">CBD &amp; Hemp Company&#8217;s 1013% YoY Revenue Increase, Will Raise More Money For &#8216;Aggressive Marketing&#8217;</a>
<h3 class="wp-block-heading">FY 2023 Financial Highlights</h3>
<ul>
<li>Revenues totaled $3.9 million, compared to $2.1 million in 2022, representing an 82% year-over-year increase.</li>
<li>Gross loss was 879,709 compared to a gross profit of $1.2 million in the prior year.</li>
<li>Total operating expenses amounted to $4.3 million, down from $5.1 million in 2022.</li>
<li>Loss from operations grew to $5.2 million, from roughly $4 million in the prior year.</li>
<li>Net loss attributable to Endexx shareholders amounted to $6.5 million, up from $4.9 million in 2022.</li>
<li>As of Sept. 30, the company had $10.3 million in total assets, down from $13.3 million in 2022.</li>
<li>Total current liabilities amounted to $27.1 million, compared to $18.4 million in the prior year.</li>
</ul>
<h3 class="wp-block-heading">Outlook</h3>
Endexx stated that it remains "committed to sustaining its growth trajectory and enhancing shareholder value through strategic marketing, continuous product innovation, and expanding its international market presence. The company remains focused on leveraging its robust financial position to explore new opportunities and achieve its strategic goals."
<h3 class="wp-block-heading">EDXC Price Action</h3>
Endexx's shares traded 2.44% lower at $0.02 per share at the time of writing on Friday morning.
Now read: <a href="https://www.benzinga.com/markets/cannabis/23/06/32816345/endexx-fy22-revenue-grows-229-yoy-here-is-what-you-need-to-know">Endexx FY22 Revenue Grows 229% YoY, Here Is What You Need To Know</a>

Cannabis

Earnings

EDXC

This CBD And Hemp Co. Reports 82% YoY Increase In 2023 Revenue, Thanks To Its 'International Appeal'

Benchmark analyst Josh Sullivan reiterates Howmet Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) with a Buy and maintains $53 price target.

Reiteration

Benchmark Reiterates Buy on Howmet Aerospace, Maintains $53 Price Target

Fed's Goolsbee Says We Will Get Inflation To 2% Over A 'Reasonable' Period Of Time

Loop Capital analyst Laura Champine maintains Honest Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNST#NASDAQ">HNST</a>) with a Hold and lowers the price target from $5 to $3.

HNST

Loop Capital Maintains Hold on Honest Co, Lowers Price Target to $3

Cantor Fitzgerald analyst Kristen Kluska reiterates Taysha Gene Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSHA#NASDAQ">TSHA</a>) with a Overweight and maintains $7 price target.

TSHA

Cantor Fitzgerald Reiterates Overweight on Taysha Gene Therapies, Maintains $7 Price Target

Fed's Goolsbee Says If You Hold At This Level Of Restrictiveness For Too Long, You Will Have Start Thinking About The Impact On Jobs; The Policy Tradeoffs Are Harder This Year

Cantor Fitzgerald analyst Charles Duncan reiterates Compass Pathways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) with a Overweight.

CMPS

Cantor Fitzgerald Reiterates Overweight on Compass Pathways

Fed's Goolsbee Says We Have Done Great On The Employment Mandate But We Have Not Succeeded On The Inflation Mandate

U.S. stocks were mixed, with the Nasdaq Composite falling over 100 points on Friday.
Shares of Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) rose during Friday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/FITB/earnings">quarterly financial results</a>.
Fifth Third Bancorp posted adjusted earnings of 76 cents per share, beating market estimates of 70 cents per share. The company's sales came in at $2.100 billion versus expectations of $2.086 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Fifth Third Bancorp shares gained 4.2% to $35.67 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) shares jumped 20.2% to $24.53.</li>
<li>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) rose 19% to $39.40 after the company reported better-than-expected first-quarter financial results.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) climbed 12.2% to $4.03.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares rose 9.7% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.</li>
<li>Cohen &amp; Steers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) gained 8.1% to $71.48 after it was announced the stock will join the S&amp;P SmallCap 600.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) shares jumped 7.8% to $0.4172.</li>
<li>Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) gained 6.6% to $13.75. Alvotech inked a long-term agreement with a strategic partner to further enhance access to Adalimumab-ryvk in the US market.</li>
<li>Bar Harbor Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHB#NYSE">BHB</a>) climbed 5.6% to $25.20 following upbeat quarterly earnings.</li>
<li>Nuvation Bio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUVB#NYSE">NUVB</a>) rose 5.2% to $2.7150.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) shares rose 4.8% to $3.0589. Wedbush, on Thursday, slashed its price target on the stock to $4 on Thursday.</li>
<li>Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) gained 4.7% to $2.9099. Community Health Systems announced an agreement to sell Cleveland, Tennessee, Hospital to Hamilton Health Care System for $160 million in cash.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38334217/netflix-to-rally-around-31-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday</a>

ALVO

FITB

HUMA

MNDR

PARA

TELL

Fifth Third Bancorp Reports Upbeat Earnings, Joins Metropolitan Bank Holding, Paramount Global And Other Big Stocks Moving Higher On Friday

Cannabis is a "competitive industry," and those looking to build their business should "embrace it," says Kevin Hart, founder and CEO of Green Check Verified, a leader in banking solutions for the cannabis industry.
To get the much-needed capital, all you need to do is not be afraid of the competitive environment, Hart told those gathered at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Florida on Tuesday.
"There&#8217;s access to financial and business services at your fingertips," Hart said, adding, "You just have to be prepared to share some information."
For Adam Stettner, founder and CEO of FundCanna, &#8220;that information is how the money will be used." Stetter joined Hart and two other industry experts, Ryan Himmel, VP and head of strategic partnerships at LeafLink and Sahar Ayinehsazian, a partner in Vicente LLP&#8216;s Los Angeles office. The panel was moderated by Jeanne M. Sullivan, chief investment officer at Arcview Ventures.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19071159/2231044_CCCFloridaGIF_V2_031124-1-41.gif" alt="" class="wp-image-299701" /></a></figure>
The panelist discussed the complexities of banking for cannabis businesses, outlining best practices for financial fitness and strategies for achieving banking access.
As the head of the company that provides access to flexible capital for the cannabis industry, Stettner is most interested in how the "money will be applied and what the repayment terms look like,' while thinking about"what the loopholes are," in terms of the borrows financial fitness and strength.
<h3 class="wp-block-heading" id="h-what-does-being-fit-mean">What Does Being Fit Mean?</h3>
When assessing if someone is fit as a borrower, the main parameter is cash flow, he said.
See also: <a href="https://www.benzinga.com/markets/cannabis/24/03/37747058/new-financing-solutions-change-the-game-for-the-cannabis-industry">New Financing Solutions Change The Game For The Cannabis Industry</a>
"It&#8217;s very hard to determine how you qualify for repayment and how that repayment will impact your business if you don&#8217;t have a baseline of revenue from which to calculate," Stettner explained.
Vicente LLP&#8217;s Ayinehsazian said being fit for banking means your business is at the "pinnacle of fitness."
Why? That's due to banking being closely related to the many different aspects of a business, including being compliant with operations, running smoothly with corporate records being in order, she explained.
"You&#8217;re also fit for a surprise visit from a regulator, you&#8217;re also fit for a potential investor or a potential lender to come in and take a look at you," Ayinehsazian noted.
<h3 class="wp-block-heading" id="h-know-what-you-are-dealing-with">Know What You Are Dealing With</h3>
She also emphasized cannabis operators need to understand the price paid for capital and the potential ‘ripple effects' that come with it.
"There&#8217;s no such thing as a free lunch," Ayinehsazian said. "So if you are able to access capital, but it seems a little bit too good to be true, it probably is a little bit too good to be true."
LeafLink&#8217;s Himmel, representing the industry&#8217;s wholesale platform that focuses on cannabis businesses being more fit as it relates to banking, has a similar opinion.
One of the most important aspects of any company's financial fitness is knowing how to rationalize tools at its disposal and making data-driven decisions, he said.
Cannabis businesses need to "have the ability to manage inventory," to avoid "causing bad unhealthy behavior such as channel stuffing in the market."
"We cannot be in a situation in a year from now, where we still have states where there&#8217;s three years worth of inventory at the wholesale level," Himmel continued.
Instead, he is proposing more consolidation and providing cannabis operators with more value in a single unified experience to help them be "better fit to get banking services."
After all, cannabis operators don&#8217;t want to be burdened with regulations on the financial side of their businesses, as Green Check&#8217;s Hart noted.
To address that, Green Check is working on providing availability and creating that "frictionless environment so you don&#8217;t injure yourself and you know have problems of having to go out and get new bank accounts and everything." 
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38278653/cannabis-banking-reform-closer-than-ever-d-c-insiders-tell-benzinga-conference-cannabis-etf-spik">Cannabis Banking Reform &#8216;Closer Than Ever,&#8217; D.C. Insiders Tell Benzinga Conference: Cannabis ETF On The Move Tuesd</a><a href="https://www.benzinga.com/markets/cannabis/24/04/38278653/cannabis-banking-reform-closer-than-ever-d-c-insiders-tell-benzinga-conference-cannabis-etf-spik">ay</a>
Photo by Jean Laurenceau

Financing

Events

Exclusives

EXCLUSIVE: Banking-Fit Means Your Cannabis Business Is At The 'Pinnacle Of Fitness,' Experts Explain At Benzinga Conference

Barclays analyst Brandt Montour maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Overweight and raises the price target from $204 to $216.

Barclays Maintains Overweight on Hilton Worldwide Holdings, Raises Price Target to $216

Fed's Goolsbee Says the 'Golden Path' Is More Difficult For 2024

Goldman Sachs analyst Matthew Sykes maintains Pacific Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) with a Neutral and lowers the price target from $7 to $2.5.

PACB

Goldman Sachs Maintains Neutral on Pacific Biosciences, Lowers Price Target to $2.5

SMR, GCTS and GSIW among mid-day movers

These Consumer Defensive stocks are trading higher:-Big Lots Inc (BIG) stock is trading at $4.05, an increase of $0.4, or 10.93%, on low volume.  Big Lots gets a Sentiment Score of Very Bearish from InvestorsObserver and receives an average analyst recommendation of Hold with a price target of $3.33.  -Village Farms Intern

Consumer Defensive Stocks Moving Up and Down Wednesday: BIG, VFF, ISPR, NWL, BTOG, KAVL, DNUT, CELH

These Consumer Defensive stocks are trading higher:-Yatsen Holding Ltd - ADR (YSG) stock is trading at $2.59, a gain of $0.3, or 13.1%, on low volume.  Yatsen Holding Ltd ADR gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Buy with a price target of $4.15.  -Dingdo

Consumer Defensive Stocks on the Move Tuesday: YSG, DDL, VFF, BTOG, SNAX, EAST, HNST, BIG