Clearside Biomedical Stock (NASDAQ: CLSD)

Clearside Biomedical Stock (NASDAQ:CLSD), Trade Ideas

Clearside Biomedical

Clearside Biomedical Inc is a United States-based clinical biopharmaceutical company. It is engaged in developing pharmacological therapies to treat blinding disease of the eye through the suprachoroidal space, or SCS. The company's novel SCS injection platform, utilizing proprietary SCS Microinjector, enables an in-office, repeatable, non-surgical procedure for the targeted and compartmentalized delivery of a wide variety of therapies to the macula, retina or choroid to potentially preserve and improve vision in patients with sight-threatening eye diseases.

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Expensify And 2 Other Stocks Under $2 Insiders Are Buying

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As of Jan. 22, 2024, five stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Top 5 Health Care Stocks That May Crash This Month

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Regenxbio&#39;s latest trial data on ABBV-RGX-314 reveal 80% reduction in injection rate, 50% injection-free, and no intraocular inflammation.

Ocular Gene Therapy: Regenxbio Data Shows Consistent Preservation Of Visual Acuity, Retinal Thickness

Clearside Biomedical, Inc. - Common Stock

Clearside Biomedical Inc

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.94 by 2.77 percent. This is a 16.72 percent decrease over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $11.364 billion which beat the analyst consensus estimate of $11.044 billion by 2.90 percent. This is a 3.58 percent increase over sales of $10.971 billion the same period last year.

Earnings

Earnings Beats

Sanofi Q1 2024 Adj EPS $0.97 Beats $0.94 Estimate, Sales $11.364B Beat $11.044B Estimate

<ul>
<li>We will now drive the Company based on a revised plan for FY24 revenues in the range of&nbsp;$14 billion&nbsp;to&nbsp;$15 billion. Within this plan, we expect a gross margin in the low 40&#39;s.&quot;</li>
<li>&quot;We plan to maintain our Net Capex1&nbsp;plan for FY24 at about&nbsp;$2.5 billion&nbsp;focusing on our strategic manufacturing initiatives.&quot;</li>
</ul>

Guidance

STMicroelectronics Lowers Its 2024 Outlook: Now Expects Net Revenues Of $14B-$15B (Prior $15.9B-$16.9B) Vs. Consensus Of $16.12B; Sees Gross Margin In The Low 40's range

In a recent interview, billionaire investor Howard Marks cautioned against overconfidence in Artificial Intelligence (AI) stocks, stressing that the technology&#8217;s transformative potential does not make it immune to market crashes.
What Happened: Marks, the co-founder of Oaktree Capital Management, shared his thoughts on AI stocks with CNBC on Tuesday. He acknowledged the technology&#8217;s potential to revolutionize the world but warned that this alone does not guarantee the success of its underlying assets, <a href="https://www.businessinsider.in/investment/news/billionaire-investor-howard-marks-says-ais-impact-doesnt-make-it-immune-to-a-crash/articleshow/109570828.cms">reported</a> Business Insider.
&#8220;Every bubble starts from widespread conviction,&#8221; Marks said. &#8220;Everybody believes A, they bid the beneficiaries of A up to the moon. It turns out, it&#8217;s overdone.&#8221;
Marks drew parallels between the current AI investment trend and the dot-com bubble of the late &#8217;90s, where the internet&#8217;s emergence led to a surge in stock prices. However, many of these stocks ended up being worthless.
See Also: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
Despite recognizing AI&#8217;s potential, Marks emphasized the difficulty in determining the appropriate reflection of AI in investment portfolios. He also expressed skepticism towards macro predictions, warning against over-reliance on Wall Street forecasts.
Why It Matters: Marks&#8217; cautionary stance on AI stocks is in line with his previous skepticism towards market trends. Earlier this year, he <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36694229/forget-bitcoin-and-gold-says-investment-guru-howard-marks-high-yield-bonds-offer-be">expressed skepticism</a> about the intrinsic value of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and gold, suggesting high-yield bonds as a safer investment option.
Other market veterans have also sounded the alarm on the current market climate. In February, investing veteran Bill Smead warned that the AI stocks mania <a href="https://www.benzinga.com/markets/equities/24/02/37356846/ai-stocks-mania-appears-to-be-headed-to-a-bad-ending-says-investing-veteran-fear-stock-market-fa">could be headed to a bad ending</a>, cautioning against the allure of popular stocks and the AI boom.
These warnings come in the wake of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po">AI-led tech stock bubble</a> that has seen a significant sell-off since Apr. 12, raising concerns about the sustainability of the current market trend.
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>
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Billionaire Investor Howard Marks Warns Against Overconfidence In AI Stocks: 'Every Bubble Starts From Widespread Conviction'

Business&nbsp;Outlook
ST&#39;s&nbsp;guidance, at the mid-point, for the 2024&nbsp;second quarter&nbsp;is:
<ul>
<li>Net revenues are expected to be&nbsp;$3.2 billion, a decrease of&nbsp;7.6%&nbsp;sequentially, plus or minus 350 basis points.</li>
<li>Gross margin of&nbsp;40%, plus or minus 200 basis points.</li>
<li>This&nbsp;outlook&nbsp;is based on an assumed effective currency exchange rate of approximately&nbsp;$1.08&nbsp;= &euro;1.00 for the 2024&nbsp;second quarter&nbsp;and includes the impact of existing hedging contracts.</li>
<li>The&nbsp;second quarter&nbsp;will close on June 29, 2024.</li>
</ul>

STMicroelectronics Expects Q2 Net Revenues To Be $3.2B (Vs. Consensus Of $3.8B); Sees Gross Margin Of 40%, Plus Or Minus 200 Bps

In this second tranche of the share buy-back programme for 2024, shares for up to USD 528 million will be purchased in the market, implying a total second tranche of up to USD 1.6 billion including shares to be redeemed from the Norwegian State. The tranche will end no later than 22 July 2024.

Buybacks

EQNR

Equinor To Commence Second Tranche Of Up To $1.6B In Its 2024 Share Buy-Back Programme

OpenAI CEO Sam Altman has invested $20 million in Exowatt, an energy startup aiming to address the soaring electricity demands of artificial intelligence (AI) data centers.
What Happened: Altman, along with venture capital firm Andreessen Horowitz, has backed Exowatt, a company focusing on sustainable energy solutions for large data centers, <a href="https://www.wsj.com/tech/ai/sam-altman-investment-exowatt-energy-startup-ai-data-centers-eeeca766">reported</a> The Wall Street Journal on Monday. 
Exowatt is developing a novel approach to solar power and energy storage to meet the energy needs of AI data centers.
Altman&#8217;s investment in Exowatt underscores the growing concern over the energy consumption of AI data centers. The surge in demand for electricity is not only a threat to the industry&#8217;s growth but also hinders the transition to clean energy.
Exowatt&#8217;s solution involves the use of solar lenses to convert sunlight into heat, which is then stored in basic materials. This stored energy can be used to generate electricity, providing a cost-effective and sustainable power source for data centers.
Exowatt&#8217;s CEO, Hannan Parvizian, emphasized that the company&#8217;s approach is unique due to its combination of solar and low-cost heat batteries in a single unit. The company plans to deploy its first units for data-center customers later this year.
"You don't have to go back to fossil fuels to solve the data-center energy problem…That's counterproductive," Exowatt's CEO, said in an interview.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Why It Matters: Altman&#8217;s investment in Exowatt comes on the heels of his advocacy for a global coalition to support the <a href="https://www.benzinga.com/news/24/04/38195200/sam-altman-pitches-allied-nations-to-join-forces-on-boosting-global-infrastructure-and-supply-chains">development of AI infrastructure</a>, including energy and data center capacity. Altman has been actively engaging with investors and government officials to address concerns about the supply of essential infrastructure for AI.
Altman has also been warning about the increasing energy demands of AI development, stressing the need for an <a href="https://www.benzinga.com/general/24/04/38093728/sam-altman-warns-ai-development-needs-an-energy-breakthrough-as-financial-pundit-says-ai-data-center">energy breakthrough</a> to sustain future advances in AI. The data centers currently account for 1-1.5% of global electricity use, according to the International Energy Agency.
Altman&#8217;s investment in Exowatt also reflects his broader interest in energy solutions. Despite being a prominent figure in the AI sector, much of Altman&#8217;s estimated wealth <a href="https://www.benzinga.com/news/24/03/37440684/openais-sam-altman-has-an-estimated-2-billion-net-worth-and-much-of-it-doesnt-come-from-ai">isn&#8217;t rooted in OpenAI</a>. His wealth primarily stems from his investments in venture capital funds and startups.
Read Next: <a href="https://www.benzinga.com/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former GOP Hopeful Nikki Haley Joins Calls For TikTok Ban To &#8216;Stop Infiltration Of Chinese Communist Party Into Lives Of Americans&#8217;</a>
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Startups

OpenAI's Sam Altman Invests $20M In Startup Using Solar Power To Address AI's Massive Energy Appetite

STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) reported quarterly earnings of $0.54 per share which missed the analyst consensus estimate of $0.65 by 16.92 percent. This is a 50.91 percent decrease over earnings of $1.10 per share from the same period last year. The company reported quarterly sales of $3.465 billion which missed the analyst consensus estimate of $3.615 billion by 4.14 percent. This is a 18.41 percent decrease over sales of $4.247 billion the same period last year.

Earnings Misses

STMicroelectronics Q1 2024 GAAP EPS $0.54 Misses $0.65 Estimate, Sales $3.465B Miss $3.615B Estimate

Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) reported quarterly earnings of $0.96 per share which beat the analyst consensus estimate of $0.80 by 20 percent. This is a 22.58 percent decrease over earnings of $1.24 per share from the same period last year. The company reported quarterly sales of $24.789 billion which beat the analyst consensus estimate of $22.240 billion by 11.46 percent. This is a 13.08 percent decrease over sales of $28.520 billion the same period last year.

Equinor Q1 2024 Adj EPS $0.96 Beats $0.80 Estimate, Sales $24.789B Beat $22.240B Estimate

The U.S. Department of Justice is conducting a criminal investigation into the consulting firm McKinsey &amp; Company for its role in advising major opioid manufacturers on increasing sales. The investigation also focuses on potential obstruction of justice related to McKinsey&#8217;s consulting records for opioid producers.
What Happened: The investigation, which has been ongoing for several years, has led to the formation of a grand jury in Virginia. The U.S. attorney&#8217;s offices in the Western District of Virginia and the District of Massachusetts are jointly conducting the probe, <a href="https://www.wsj.com/articles/mckinsey-faces-criminal-probe-over-opioid-related-consulting-a3f816d4">reported</a> The Wall Street Journal citing people familiar with the investigation.
The criminal investigation revolves around McKinsey&#8217;s advice to pharmaceutical clients, including Purdue, Endo International, and Mallinckrodt, which previously triggered a wave of civil litigation against the firm. McKinsey reached a $642 million settlement with all 50 states and other entities in 2021, without admitting wrongdoing.
The firm&#8217;s former clients, Purdue, Endo, and Mallinckrodt, filed for bankruptcy while facing mass lawsuits alleging they sold drugs through misleading marketing practices, exacerbating addiction. McKinsey helped Purdue develop an initiative to boost OxyContin sales, including advising the company to focus on high-volume prescribers.
See Also: <a href="https://www.benzinga.com/general/biotech/24/04/38388306/moderna-faces-pfizer-biontech-in-london-patent-battle-over-covid-19-vaccines-in-legal-showdown?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Moderna Faces Pfizer, BioNTech in London Patent Battle over Covid-19 Vaccines In Legal Showdown</a>
McKinsey has previously stated that it ceased work on opioid-specific businesses in 2019 and that its work for Purdue was intended to support the legal use of opioids and patients with legitimate medical needs.
McKinsey did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The criminal investigation into McKinsey&#8217;s opioid-related consulting is a significant development in the ongoing legal battle surrounding the opioid epidemic. This investigation follows a series of similar actions against other entities involved in the crisis.
Earlier this year, in a landmark move, Publicis Groupe (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PUBGY#OTC">PUBGY</a>) agreed to a <a href="https://www.benzinga.com/government/24/02/36906250/publicis-to-pay-350m-in-first-ever-opioid-marketing-settlement">$350 million settlement</a> over its alleged role in the opioid crisis. This marked the first time an advertising firm was held accountable for its part in the epidemic.
Moreover, the Supreme Court <a href="https://www.benzinga.com/government/23/08/33748967/sackler-familys-6b-commitment-in-spotlight-supreme-court-suspends-purdue-pharmas-settlement-over-opi">temporarily suspended</a> a multi-billion-dollar bankruptcy agreement involving Purdue Pharma, the producer of the opioid OxyContin. This arrangement would have shielded the company&#8217;s Sackler family owners from civil lawsuits linked to the opioid epidemic.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/04/38363518/eli-lilly-aims-to-close-supply-demand-gap-for-zepboundmounjaro-as-it-acquires-manufacturing-facil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Eli Lilly Aims To Close Supply-Demand Gap For Zepbound/Mounjaro As It Acquires Manufacturing Facility From Nexus Pharma</a>
Image Via Pixabay
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Legal

PUBGY

McKinsey Faces Criminal Probe By DOJ For Opioid Consulting: Report

Entrepreneur and &#8220;Shark Tank&#8221; investor Mark Cuban recently praised a business idea proposed by a 10-year-old.
What Happened: On Wednesday, Cuban took to X, formerly Twitter, to express his admiration for a business plan detailed by a young entrepreneur&#8217;s father. The plan involved a service where, for $100 per year, the kid would take care of customers&#8217; trash twice a week. 
Cuban&#8217;s said, &#8220;&#x1f525;&#x1f525;&#x1f525; what a great idea&#8221;, showed his approval of the innovative concept.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f525;&#x1f525;&#x1f525; what a great idea <a href="https://t.co/4KtIBt3jEt">https://t.co/4KtIBt3jEt</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1782902135044338067?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <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>
Startup founder Bill Smith explained his 10-year-old&#8217;s idea in detail in the post, which garnered Cuban&#8217;s reaction. 
In the post, he shared a personal anecdote about guiding his son through a sales endeavor. Smith&#8217;s son initially feels disheartened after knocking on 40 doors and only securing one customer, falling short of his goal of three. 
However, Smith encourages his son not to give up and asks when he plans to follow up. Despite his confusion about the concept, he diligently follows up with everyone, even those who initially expressed uncertainty. 
His persistence pays off, as he gains five more customers, bringing his total to 13, with many coming from referrals. 
Smith said, &#8220;Most people only ask once. They give up too early. Don't forget how powerful just following up is.&#8221;
This isn&#8217;t the first time Cuban has shown his support for young entrepreneurs. Known for his early entrepreneurial ventures, including selling <a href="https://www.benzinga.com/news/23/06/32858841/mark-cuban-sold-trash-bags-door-to-door-at-12-years-old-in-our-household-if-you-wanted-something-you">garbage bags door-to-door</a> at age 12, Cuban often shares business advice and encourages entrepreneurial spirit.
Why It Matters: Cuban&#8217;s endorsement of the business plan is significant given his successful track record in business and investment.
Cuban&#8217;s business advice is highly valued. His belief in the <a href="https://www.benzinga.com/news/24/01/36856225/mark-cuban-on-success-business-sales-cures-all-entrepreneurship-keep-grinding-life-be-curious-and-le">importance of sales and perseverance</a> in entrepreneurship is well-documented. His recent tweet further emphasizes his belief in the power of innovative ideas and the potential of young entrepreneurs.
Cuban shared his strategy for success, stating that with just a <a href="https://www.benzinga.com/startups/23/11/35701214/mark-cuban-could-succeed-in-business-with-500-and-a-phone">phone and $500</a>, he could rebuild his fortune. This latest endorsement of a young entrepreneur&#8217;s business plan aligns with his belief in the potential of simple, yet innovative ideas.
Photo by Joe Seer on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38374423/elon-musk-reacts-as-ark-invest-analyst-says-its-going-to-be-very-hard-for-tesla-rivals-to-catch-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As ARK Invest Analyst Says &#8216;It&#8217;s Going To Be Very Hard&#8217; For Tesla Rivals &#8216;To Catch Up To Them&#8217; In Pricing: &#8216;Accurate&#8217;</a>
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Entertainment

Entrepreneurship

Mark Cuban Applauds 10-Year-Old Entrepreneur's Innovative Business Plan: 'What A Great Idea'

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) executives, including CEO Mark Zuckerberg and CFO Susan Li, were cautious in their response to a question about <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">the potential impact</a> of the TikTok ban or sale on the U.S. social media landscape.
What Happened: During the company&#8217;s <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">first-quarter earnings call</a> on Wednesday, Li responded to a question about the TikTok ban, stating that it was too early to assess its impact on Meta&#8217;s business.
Youssef Squali from Truist Securities directed his question to Zuckerberg saying, &#8220;Mark with the upcoming ban or sale of TikTok ending to a lot earlier today, how do you think that will impact the U.S. social media landscape?&#8221;
Squali also asked, &#8220;What do you say to people who believe that this is potentially a slippery slope in terms of the government picking up winners and losers?&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gives Shoutout To Taylor Swift&#8217;s Debut On Threads, Says &#8216;That One Was A Big Deal In My House&#8217;</a>
Zuckerberg decided to not address the question, after which Li responded, &#8220;We&#8217;ve obviously been following the events related to TikTok closely, but at this stage, it is just too early I think to assess its impact or what it would mean for our business.&#8221;
Why It Matters: The TikTok ban has been a topic of significant interest in the tech industry. After the U.S. House of Representatives and Senate passed a bill that could lead to the ban or sale of TikTok, President Joe Biden <a href="https://www.benzinga.com/markets/asia/24/04/38418913/tiktok-fights-back-we-arent-going-anywhere-whats-next-for-users">signed it into law on Wednesday</a>. 
TikTok CEO Shou Zi Chew has said that they will fight back. &#8220;Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,&#8221; he said in a two-minute <a href="https://www.tiktok.com/@tiktok/video/7361448925972155679" target="_blank" rel="noreferrer noopener">video</a> posted to TikTok's main corporate account.
Former President Donald Trump has <a href="https://www.benzinga.com/news/24/04/38368049/trump-reverses-tiktok-ban-stance-accuses-biden-of-favoring-zuckerbergs-meta-doing-it-to-help-faceboo">repeatedly voiced opposition</a> to a potential ban on TikTok, accusing President Biden of aiding Facebook, led by Zuckerberg, in amassing more influence on social media platforms and potentially interfering in elections, to the detriment of Republicans.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Meanwhile, Wedbush analysts believe that while Microsoft Corp. and Oracle Corp. could be the &#8220;likely buyers&#8221; of TikTok, but added Meta and Google <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">could emerge as winners</a>. &#8220;We would expect Meta to be the primary recipient of redistributed TikTok revenue should the company exit the U.S., with Google the likely number two beneficiary.&#8221;
Wedbush's Dan Ives has previously spoken about the potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37689925/tiktok-ban-benefits-meta-and-others-but-us-is-playing-a-little-with-fire-says-wedbu">repercussions of a TikTok ban</a> for large technology firms, calling the situation a &#8220;slippery slope&#8221; and a &#8220;watershed moment.&#8221; 
Check out more of Benzinga's Consumer Tech coverage by <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/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">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 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

GOOGL

MSFT

ORCL

Meta Execs Mark Zuckerberg And Susan Li Tread Lightly On Impact Of TikTok Ban Or Sale: 'It Is Just Too Early'

Renowned economist and cryptocurrency skeptic, Peter Schiff, warned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holders of a potential drop if the coin fails to hold the $60K support level.
What Happened: On Wednesday, Schiff took to Twitter to express his concerns about Bitcoin&#8217;s future. &#8220;It&#8217;s not looking good #HODLers. You guys need to hope #Bitcoin can hold $60K. Otherwise it&#8217;s a long way down,&#8221; he tweeted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s not looking good <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw">#HODLers</a>. You guys need to hope <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> can hold $60K. Otherwise it&#39;s a long way down. All the hard core Bitcoiners are use to big drops. But the newbies who own the ETFs are in for a rude awakening. <a href="https://t.co/Dw6mJXXi3r">pic.twitter.com/Dw6mJXXi3r</a>
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1783271696138481828?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
Bitcoin has gained over 7% so far in the last seven days and since the year began the apex cryptocurrency has shot up over 47%.
His tweet comes in the wake of Bitcoin&#8217;s recent consolidation, which has left investors questioning its next move. Schiff, known for his critical views on Bitcoin, has previously slammed the cryptocurrency for its volatility and questioned its status as a safe haven asset.
Why It Matters: According to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38358590/bitcoins-next-move-after-the-halving-technical-analysis-foresees-these-2-scenarios">recent technical analysis</a>, the $60,000 support level is crucial for Bitcoin&#8217;s bullish outlook. If the price drops below $60,000, there might be a chance to buy, especially if it&#8217;s just a temporary or deceptive decline known as a &#8220;fakeout.&#8221;
In the past, Schiff has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38331688/peter-schiff-slams-bitcoin-for-not-being-the-safe-haven-asset-its-promoted-to-be-af">criticized Bitcoin</a> for not being the &#8216;safe haven asset it&#8217;s promoted to be&#8217; after it tanked 6% following jobless claims data, while gold rose 1.5%. 
He also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38345128/peter-schiff-mocks-bitcoiners-after-halving-event-asks-if-theyre-throwing-parties-h">mocked Bitcoin holders</a> after the recent halving event, suggesting that they will soon experience a halving of their net worth.
Price Action: At the time of writing, Bitcoin traded 3.7% lower at $64,177.19, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro.</a>
Photo Courtesy: Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38402854/dogecoin-killer-shiba-inu-burn-rate-skyrockets-2-212-as-robinhood-wallet-moves-3-trillion-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Skyrockets 2,212%, As Robinhood Wallet Moves 3 Trillion SHIB In A Single Transaction</a>
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Peter Schiff Warns Bitcoin Hodlers: 'It's A Long Way Down' If King Crypto Can't Hold $60K

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg&#8217;s announcement related to &#8220;scaling capex and energy expenses for AI&#8221; 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">company&#8217;s first-quarter financial results</a>, allegedly led to a 17% stock plunge. Gene Munster believes the market&#8217;s reaction is an overreaction.
What Happened: During his opening statement on Wednesday, Zuckerberg revealed the company&#8217;s plans to ramp up AI investment by scaling capital expenditure and energy expenses. 
He said, &#8220;We&#8217;re scaling CapEx and energy expenses for AI, we&#8217;ll continue focusing on operating the rest of our company efficiently. But realistically, even with shifting many of our existing resources to focus on AI, we&#8217;ll still grow our investment envelope meaningfully before we make much revenue from some of these new products.&#8221;
This announcement caused the stock to drop an additional 5%, bringing the total decline to 17%, according to Munster, the co-founder and managing partner of&nbsp;Deepwater Asset Management. 
&#8220;He wants to get investors&nbsp;on the same page, they&#8217;re&nbsp;entering a multi-year investment cycle,&#8221; Munster said, adding, &#8220;My take,&nbsp;the stock action is an&nbsp;overreaction,&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gives Shoutout To Taylor Swift&#8217;s Debut On Threads, Says &#8216;That One Was A Big Deal In My House&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> dropped an additional 5% (now down 17%) on Zuckerberg&#39;s opening comments that will be growing Capex and energy meaningfully before seeing the greater benefit of AI. He wants to get investors on the same page, they&#39;re entering a multi year investment cycle. My take, the…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1783244161400836328?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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Why It Matters: Meta&#8217;s first-quarter financial results were strong. The company reported a revenue of $36.45 billion, a 27% increase year-over-year,&nbsp;according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp; This figure surpassed the Street&#8217;s consensus estimate of $36.16 billion.
Last quarter, Meta surprised investors with <a href="https://www.benzinga.com/news/earnings/24/02/36899267/meta-platforms-q4-earnings-highlights-revenue-beat-eps-beat-companys-first-dividend-and-more">better-than-expected results</a>, introducing a quarterly dividend, and unveiling a $50 billion expansion to its buyback initiative.
On Wednesday, the tech giant said that last year it prioritized increasing operational discipline, achieving robust execution, and improving advertising performance. Looking ahead to 2024, the company intends to further strengthen its efforts in these domains while also advancing its long-term ambitions in AI and Reality Labs.
META Price Action: Meta shares declined 15.1% after hours to $418.85 after closing 0.52% lower at $493.5 in the regular session, according to data from Benzinga Pro.
Photo courtesy: Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">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.

Meta's Stock Plunge After Q1 Numbers An 'Overreaction' To Zuckerberg's CapEx Move, Says Gene Munster: 'He Wants to Get Investors on the Same Page

IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) CEO Arvind Krishna has forecasted a significant shift in the use of AI by enterprises, noting that the technology will drive tangible business results. This comes as the company&#8217;s AI bookings surpass the $1 billion mark.
What Happened: Krishna, during the Q1 2024 Earnings Call, highlighted the increasing importance of technology in the global economy, particularly in driving productivity and enhancing customer experience.
The CEO also emphasized the growing traction of enterprise AI, with more clients expected to transition from experimenting to deploying AI at scale for productivity gains. IBM&#8217;s AI offerings have seen consistent growth, with a book of business exceeding $1 billion, primarily driven by consulting services.
Krishna emphasized key partnerships driving AI and hybrid cloud growth, including collaborations with NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and ServiceNow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) to enhance AI capabilities and digital transformation. The Adobe partnership expanded to include OpenShift and watsonx in the Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) Experience platform.
&#8220;This quarter, we&#8217;ve progressed strategic partnerships with a number of industry leaders, consulting joint forces with NVIDIA to accelerate clients&#8217; AI journeys,&#8221; Krishna said. 
IBM&#8217;s comprehensive AI strategy, centered around the watsonx platform, is designed to help clients scale AI. The platform enables clients to build their AI solutions, incorporating both IBM and third-party models. The company&#8217;s infrastructure segment is also playing a crucial role as clients utilize their hardware investments in their AI strategies.
See Also: <a href="https://www.benzinga.com/news/24/04/38339431/general-motors-and-ford-are-facing-the-same-challenge-as-they-run-back-to-gas-powered-trucks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks</a>
IBM&#8217;s full-stack approach, from on-chip AI processing to AI accelerator cards, is designed to facilitate model building and training on any platform, with easy deployment on IBM Z. The Telum chip, a unique feature, enables real-time AI inferencing.
IBM is also committed to an open innovation ecosystem around AI, with recent collaborations with the Spanish government and other industry leaders. The company continues to invest in emerging technologies, such as quantum computing, and is focused on portfolio optimization.
Why It Matters: IBM&#8217;s Q1 2024 earnings call comes on the heels of a <a href="https://www.benzinga.com/news/earnings/24/04/38416255/ibm-q1-earnings-revenue-miss-eps-beat-hashicorp-acquisition-ai-strategy-strength-and-more">revenue miss</a> but an EPS beat, as the company reported a 1% YoY increase in revenue to $14.46 billion. The company&#8217;s AI strategy and strength are seen as crucial factors amid this financial performance.
IBM&#8217;s focus on AI is not new. The company has been actively involved in the AI space, from advocating for open AI models to <a href="https://www.benzinga.com/news/23/12/36085130/meta-ibm-and-over-50-ai-companies-join-forces-in-open-ai-advocacy-initiative">joining forces</a> with over 50 AI companies and research institutions in an open AI advocacy initiative. This commitment to AI is now reflected in the company&#8217;s Q1 performance and its future outlook.
IBM Price Action: <a href="https://www.benzinga.com/quote/IBM" target="_blank" rel="noreferrer noopener">IBM shares</a> were down 8.47% after hours at $168.51 at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
Image Courtesy: World Economic Forum/Manuel Lopez
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

ADBE

NVDA

IBM CEO Arvind Krishna Teams Up With Nvidia 'To Accelerate Clients' AI Journeys' Amid $1B In Bookings

Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO and Twitter co-founder Jack Dorsey has announced a new feature that enables Square merchants to automatically convert a percentage of their daily sales into Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: On Wednesday, Dorsey took to X, formerly Twitter, to announce the new feature, stating, &#8220;Square sellers: auto-convert a percent of your daily sales to bitcoin.&#8221; 
This feature, which is rolling out in the U.S. starting today, will transfer 1-10% of Square sellers' daily sales to their personal Cash App account. At the end of the day, this amount will be converted into Bitcoin. Merchants will receive a confirmation of the conversion when the transaction is complete, according to a TechCrunch <a href="https://techcrunch.com/2024/04/24/block-now-lets-square-merchants-convert-a-part-of-their-daily-sales-to-bitcoin/?guccounter=1">article</a> shared by Dorsey.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">square sellers: auto-convert a percent of your daily sales to bitcoin: <a href="https://t.co/sMiTIZV916">https://t.co/sMiTIZV916</a> <a href="https://t.co/Glnt8gc2eC">pic.twitter.com/Glnt8gc2eC</a>
&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1783167463645155690?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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According to TechCrunch, Block has stated that the Bitcoin conversion feature will be available to all sole proprietors or single-member LLCs in the coming months. The company will take a 1% cut from every conversion made by the seller. Merchants can send Bitcoin to other wallets or sell them at any time from their Cash App account.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348301/bitcoin-halving-elon-musks-dogecoin-tweet-solanas-rise-and-more-this-week-in-cryptocurrenc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Halving, Elon Musk&#8217;s Dogecoin Tweet, Solana&#8217;s Rise And More: This Week In Cryptocurrency</a>
Why It Matters: This move comes as part of Block&#8217;s ongoing efforts to expand its cryptocurrency offerings. In December 2023, the company launched its <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36140925/move-your-bitcoin-off-the-exchanges-jack-dorseys-block-launches-self-custody-btc-wallet">self-custody Bitcoin wallet</a>, Bitkey, which is now accessible in over 95 countries. The wallet, available as a mobile app or hardware storage, highlights a two-of-three multi-signature wallet consisting of a mobile key, a hardware key, and a server key.
However, this announcement also comes on the heels of significant layoffs at Block. In January 2024, the company <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36859861/jack-dorseys-block-implements-major-layoffs-reduces-10-of-workforce-amid-broader-tech-indu">reduced its workforce</a> by 10%, affecting employees across various sectors of the company, including the Cash App, Foundational, and Square sectors. The layoffs were reportedly conducted in a single day to boost efficiency at the financial firm.
Price Action: Block shares closed 1.58% lower at $74.03 in the regular session and declined nearly 1% in the after-hours trading. At the time of writing, Bitcoin traded 3.5% lower at $64,274.16, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro.</a>
Photo by Frederic Legrand &#8211; COMEO on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
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 Shivdeep Dhaliwal</a> 
 
 
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 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
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Jack Dorsey Says Block Will Allow Square Sellers To Auto Convert A Percent Of Daily Sales To Bitcoin

Michaël van de Poppe, a notable crypto analyst, voiced doubts regarding the prospects of an Exchange-Traded Fund approval for Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). Additionally, he emphasized the resilience of the Ethereum ecosystem.
What Happened: Van de Poppe took to social media platform X to share his views on the possibility of an Ethereum ETF approval. He indicated that the chances of approval are low, despite the potential for an upward trend in Ethereum&#8217;s value. He also emphasized the strength of the Ethereum ecosystem.
&#8220;It&#8217;s still on edge to have one and I think people are underestimating the strength of the Ethereum ecosystem,&#8221; he wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The chances for an ETF approval for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> are quite low, but that doesn&#39;t mean that we&#39;re going to have an upward run on Ethereum. It&#39;s still on edge to have one and I think people are underestimating the strength of the Ethereum ecosystem.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1783073900093390850?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349928/melania-trump-launches-245-customizable-mothers-day-necklace-buyers-to-also-get-limited-ed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Melania Trump Launches $245 Customizable Mother&#8217;s Day Necklace, Buyers To Also Get Limited-Edition Solana-Based Digital Collectible</a>
Why It Matters: The possibility of an Ethereum ETF has been a hot topic in the crypto world. The <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38404202/why-sec-delays-put-the-may-ethereum-etf-deadline-in-doubt">SEC&#8217;s continued scrutiny</a> of Ethereum ETF proposals has cast doubt on the May approval deadline. This has led to a decrease in the market&#8217;s expectation of an ETF approval, with a prediction market assigning only a 16% chance of approval by May 31.
Notably, the SEC <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36514679/wall-street-enters-the-crypto-age-sec-issues-historic-approval-of-spot-bitcoin-etfs">issued a historic approval</a> for a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETF on January 10, 2024, pushing Wall Street into the cryptocurrency age.
Despite the uncertainty, investment bank Standard Chartered remains optimistic about the future of digital assets. The bank believes that the market <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38400241/spot-ethereum-etf-approval-unlikely-but-bad-news-already-priced-in-standard-chartered">is well-positioned</a> for a rebound, even if the approval is delayed.
Meanwhile, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299618/hong-kongs-bitcoin-and-ethereum-etfs-poised-to-reach-1b-in-assets-bloomberg-analyst-predic">Bitcoin and Ethereum ETFs in Hong Kong</a> are projected to accumulate $1 billion in assets within the next two years, despite China&#8217;s ban on the underlying assets. This suggests a strong global interest in cryptocurrency ETFs.
However, not everyone is optimistic about Ethereum&#8217;s future. A <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38253553/is-ethereum-dead-this-bitcoin-trader-thinks-so-solana-attacking-from-left-flank">seasoned Bitcoin trader and advocate</a> recently declared a pessimistic outlook for Ethereum, suggesting that the &#8220;ETH story is dying.&#8221;
Price Action: Based on data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>, Bitcoin is presently trading at $64,535, marking a 0.44% increase over the past 24 hours and a 46.10% surge year-to-date. Meanwhile, Ethereum is trading at $3,170, with a 0.98% rise in the last 24 hours and a 34.74% increase year-to-date.
Image Via Shutterstock 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
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ETFs

$ETH

Unlike Bitcoin's Case, Ethereum ETF Approval Chances Slim, Says Crypto Analyst, But 'People Are Underestimating The Strength' Of ETH Ecosystem

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg has revealed that over 50% of the content on Instagram and 30% of posts on Facebook are now <a href="https://www.benzinga.com/news/23/05/32398247/mark-zuckerberg-reveals-social-media-feeds-are-now-fueled-by-ai-generated-content">recommended by artificial intelligence</a>. 
What Happened: Zuckerberg made this revelation during <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">Meta&#8217;s first-quarter financial results</a> announcement on Wednesday. 
&#8220;Right now, about 30% of the posts on Facebook feed are delivered by our AI recommendation system. That&#8217;s up 2x over the last couple of years,&#8221; he said in his opening statement, adding, &#8220;And for the first time ever, more than 50% of the content people see on Instagram is now AI recommended.&#8221;
The Meta CEO also revealed that AI has also played a pivotal role in enhancing the value for advertisers, with the revenue through Meta&#8217;s AI-powered tools, Advantage+ Shopping, and Advantage+ App Campaigns, more than doubling since last year.
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Meta disclosed first-quarter revenue of $36.45 billion, marking a 27% increase compared to the last year. This revenue exceeded the Street consensus estimate of $36.16 billion, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. The tech giant&#8217;s earnings per share for the first quarter were $4.71, surpassing the Street estimate of $4.33.
Why It Matters: Last year in June, <a href="https://www.benzinga.com/news/23/06/33058133/meta-wants-to-empower-users-over-ai-influence-on-facebook-and-instagram-recommendations">Meta announced&nbsp;new controls</a> to allow users to manage what they see on Facebook and Instagram. This was part of Meta&#8217;s broader initiative to increase transparency and user empowerment regarding AI recommendations.
At the time, it was reported that Facebook users can customize recommendations by navigating to the &#8216;Feed Preferences&#8217; section while Instagrammers could go to &#8216;Suggested Content Control Center&#8217; within the app&#8217;s settings to <a href="https://www.benzinga.com/news/23/10/35433364/mark-zuckerberg-says-your-feed-will-one-day-have-ai-generated-content-not-friends-and-family">adjust their recommendations</a>.
Moreover, Instagram users have the ability to indicate their interest in specific recommended reels, prompting the service to display more content of similar types. This feature complements the existing &#8220;Not Interested&#8221; option introduced in 2021.
Meanwhile, earlier this month, Meta expanded its policy on AI-generated content, <a href="https://www.benzinga.com/news/24/04/38120400/meta-expands-labels-for-ai-generated-content-to-include-photos-and-audio-across-facebook-instagram-a">introducing labels for AI-generated content</a> across Facebook, Instagram, and Threads. This move aimed to provide users with more context about the content they see. 
Photo courtesy: Anthony Quintano on Flickr
Check out more of Benzinga&#8217;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/24/04/38370806/elon-musk-calls-social-security-the-biggest-ponzi-scheme-ever-maybe-ai-and-robots-will-save-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener"><a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn&#8217;t Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO&#8217;s Thought Process</a></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.

Meta CEO Mark Zuckerberg: 'More Than 50% Of The Content People See On Instagram Is Now AI Recommended'

Wednesday saw a varied performance across major U.S. indices. The Dow Jones Industrial Average dipped slightly by 0.1% to reach 38,460.92, while the S&amp;P 500 experienced marginal growth, edging up by 0.02% to settle at 5,071.63. Meanwhile, the Nasdaq saw a modest increase of 0.1% to reach 15,712.75.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta Platforms closed the day down 0.52% at $493.50, with an intraday high of $510 and a low of $484.58. The company&#8217;s 52-week high and low are $531.49 and $207.13 respectively. Despite higher costs and guidance, the Mark Zuckerberg-led company reported a 27% year-over-year increase in <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">first-quarter revenue</a> to $36.45 billion, beating the Street consensus estimate. 
Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)
Snap shares ended the day down 2.72% at $11.08, with an intraday high of $11.48 and a low of $10.96. The company&#8217;s 52-week high and low are $17.9 and $7.86 respectively. Snap shares initially got a boost following the <a href="https://www.benzinga.com/news/24/04/38405744/whats-going-on-with-snap-stock-today">passage of a bill</a> to ban or force a sale of TikTok, but later pulled back. 
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
See Also: <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>
Amazon shares closed down 1.64% at $176.59, with an intraday high of $180.32 and a low of $176.18. The company&#8217;s 52-week high and low are $189.77 and $101.15 respectively. Amazon launched a new affordable <a href="https://www.benzinga.com/markets/equities/24/04/38398189/enhanced-convenience-amazon-launches-new-affordable-grocery-delivery-subscription">grocery delivery subscription</a> for Prime members and EBT customers. 
International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)
IBM shares ended the day up 1.05% at $184.10, with an intraday high of $184.29 and a low of $181.4. The company&#8217;s 52-week high and low are $199.18 and $120.55 respectively. IBM reported a 1% year-over-year increase in <a href="https://www.benzinga.com/news/earnings/24/04/38416255/ibm-q1-earnings-revenue-miss-eps-beat-hashicorp-acquisition-ai-strategy-strength-and-more">first-quarter revenue</a> to $14.5 billion, missing the consensus estimate. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares surged 12.06% to close at $162.13, with an intraday high of $167.97 and a low of $157.51. The company&#8217;s 52-week high and low are $299.29 and $138.8 respectively. Despite missing analyst estimates for the first quarter, Tesla shares soared following the company's quarterly report. CNBC TV host Jim Cramer <a href="https://www.benzinga.com/news/earnings/24/04/38412375/jim-cramer-says-tesla-stock-could-climb-to-175-today-on-back-of-elon-musk-comments-everything-that-">expressed his surprise</a> that the stock hasn&#8217;t moved even higher on investor sentiment. 
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tesla&#8217;s Pricing Debate: &#8216;Only A Fool Thinks ….&#8217;</a>
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AMZN

SNAP

TSLA

Meta Platforms, Snap, Amazon, IBM, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Meta Platforms&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO&nbsp;Mark Zuckerberg&nbsp;has acknowledged pop star&nbsp;Taylor Swift&#8217;s debut on his social media platform Threads during the company&#8217;s <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">first-quarter financial results</a> announcement.
What Happened: On Wednesday, in his opening statement, Zuckerberg, mentioned <a href="https://www.benzinga.com/news/23/10/35431135/are-reports-of-metas-threads-death-greatly-exaggerated-mark-zuckerberg-says-the-twitter-killer-has-a">the growth of Threads</a>, with over 150 million monthly active users. 
He then went on to specifically highlight Swift&#8217;s entry on the platform saying, &#8220;And of course my daughters&nbsp;would want me to mention&nbsp;that Taylor Swift is now&nbsp;on Threads — that one&nbsp;was a big deal in&nbsp;my house.&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38348747/not-something-steve-jobs-would-probably-do-gurman-says-apple-should-go-against-the-grain-and-low?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Sports A Beard In A New Instagram Video…Is That For Real?</a>
Swift joined Threads on the&nbsp;same day (April 19) her new album,&nbsp;The Tortured Poets Department (TTPD), was released. Zuckerberg welcomed her to the platform with a reference to her song &#8220;Blank Space,&#8221;&nbsp;saying, &#8220;Nice to meet you,&nbsp;where you been?&#8221; At the&nbsp;time of writing, Swift had&nbsp;over 9.3 million followers on&nbsp;Threads.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24211150/Screenshot-2024-04-25-at-6.41.43%E2%80%AFAM-720x1024.png" alt="" class="wp-image-307578" /></figure>
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Why It Matters: This isn&#8217;t the first time Zuckerberg has shown his admiration for Swift. In 2023, he <a href="https://www.benzinga.com/general/entertainment/23/07/33477808/zuckerberg-has-bad-blood-with-musk-but-love-story-with-taylor-swift-attends-concert-with-be">attended one of her concerts</a> with his family,&nbsp;posting about it on Instagram&nbsp;with the caption &#8220;Life of a girl dad.&#8221; 
At the time, the Meta CEO was not only there to accompany his family but sported a flurry of friendship bracelets on his wrist, which has become trademark accessories&nbsp;of any true &#8220;Swiftie.&#8221; On top of that, his face was adorned with what seemed to be small sequins or rhinestones arranged in a circle.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24211656/Screenshot-2024-04-25-at-6.46.27%E2%80%AFAM-1024x1022.png" alt="" class="wp-image-307581" /></figure>
Meta reported its first-quarter financial results, which showed a 27% year-over-year increase in revenue, reaching $36.45 billion. In the first quarter, the company announced earnings per share of $4.71, surpassing the Street&#8217;s estimate of $4.33.
Image Credits &#8211; Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38345794/mark-zuckerberg-spills-the-beans-on-his-bromance-with-nvidias-jensen-huang-hell-yeah-lets-m" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Spills The Beans On His Bromance With Nvidia's Jensen Huang: ‘Hell Yeah, Let's Make Cheesesteaks</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 Gives Shoutout To Taylor Swift's Debut On Threads, Says 'That One Was A Big Deal In My House'

Edward Snowden has slammed the U.S. Department of Justice&#8217;s recent actions against app developers, advocating for financial privacy in a recent social media post.
What Happened: On Tuesday, Snowden took to X, formerly Twitter, to express his disapproval of the Department of Justice&#8217;s recent actions. He tweeted, &#8220;The Department of &#8216;Justice&#8217; has once again criminalized the developers of an app that restores financial privacy. The way to fix this it to make money private by default. Privacy must never be &#8216;exceptional,&#8217; or they will make it criminal.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Department of &quot;Justice&quot; has once again criminalized the developers of an app that restores financial privacy. The way to fix this it to make money private by default. Privacy must never be &quot;exceptional,&quot; or they will make it criminal.
&mdash; Edward Snowden (@Snowden) <a href="https://twitter.com/Snowden/status/1783222542464884911?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This post came in response to the recent arrest and charges against the founders and CEO of a cryptocurrency mixing service. 
The founders and CEO of cryptocurrency mixing service, Samourai Wallet, have been arrested and charged with money laundering and unlicensed money transmitting offenses. The charges stem from the company&#8217;s alleged involvement in over $2 billion in unlawful transactions and more than $100 million in money laundering transactions.
According to the United States Department of Justice, Keonne Rodriguez, CEO and co-founder of Samourai Wallet, and William Lonergan Hill, CTO and co-founder, were arrested on Wednesday. The charges arise from the defendants&#8217; development, marketing, and operation of a cryptocurrency mixer that facilitated illegal transactions from dark web markets, such as Silk Road and Hydra Market.
U.S. Attorney Damian Williams stated that Rodriguez and Hill knowingly facilitated the laundering of over $100 million of criminal proceeds from various illegal activities. The U.S. will seek Hill&#8217;s extradition from Portugal to stand trial in the United States, he was arrested in the European Union country on Wednesday morning.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349807/bitcoin-signals-potential-67-gain-as-this-key-metric-dips-below-90-day-average-analyst-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Signals Potential 67% Gain As This Key Metric Dips Below 90-Day Average: Analyst Says &#8216;Perfect Ti</a>
Why It Matters: Snowden&#8217;s tweet reflects his ongoing support for financial privacy, particularly in the context of cryptocurrency. He has previously <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36751582/edward-snowden-supports-legal-fund-for-tornado-cash-co-founder-roman-storm-privacy-is-not-">endorsed a legal defense fund</a> for Roman Storm, co-founder of Tornado Cash, a cryptocurrency mixing service embroiled in legal issues. Snowden has been vocal in his belief that &#8220;Privacy is not a crime.&#8221;
This recent post from Snowden also aligns with the views of former U.S. Presidential candidate Vivek Ramaswamy, who has argued that <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36190138/vivek-ramaswamy-thinks-penalizing-tornado-cash-mixer-was-illegal-and-unconstitutional">penalizing an entire protocol</a> or way of doing business is illegal and unconstitutional. Ramaswamy has specifically criticized the Treasury Department&#8217;s decision to sanction Tornado Cash.
These events highlight the ongoing debate around financial privacy, particularly in the realm of cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and the legal challenges faced by companies operating in this space.
Photo Courtesy: Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
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Politics

Edward Snowden Slams Justice Department For Action Against Samourai Wallet Co-Founders: 'The Way To Fix This Is To Make Money Private By Default'

Andreas Argyrides, an analyst from Wedbush, reiterated the Buy rating on Clearside Biomedical (CLSD – Research Report). The associated price target...

Buy Rating Affirmed for Clearside Biomedical on Innovative Treatments and Strong Financials

Clearside Biomedical Inc (CLSD) has disclosed a new risk, in the Regulation category. Clearside Biomedical Inc. operates in a complex legal environ...

Navigating a Regulatory Maze: Clearside Biomedical's Challenge with Global Compliance and Anti-Corruption Laws

Analyst Yi Chen of H.C. Wainwright reiterated a Buy rating on Clearside Biomedical (CLSD – Research Report), with a price target of $6.00. Yi Chen ...

Clearside Biomedical: Strong Buy Rating on Robust Financials and Clinical Trial Progress

Clearside Biomedical Inc (CLSD) is around the top of the Healthcare sector according to InvestorsObserver.CLSD received an overall rating of 88, which means that it scores higher than 88% of stocks. Additionally, Clearside Biomedical Inc scored a 100 in the Healthcare sector, ranking it higher than 100% of stocks in that s

Should You Add Clearside Biomedical Inc (CLSD) Stock to Your Portfolio Thursday?

These Healthcare stocks are trading higher:-TC BioPharm Ltd (TCBP) stock is trading at $2.00, an increase of $0.3, or 15.3%, on low volume.  Tc Biopharm [Holdings] Plc ADR gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $140.00.  -

Healthcare Stocks Making Moves Thursday: TCBP, DRRX, CLSD, XRTX, SPRB, IMRX, FWBI, RNXT

Clearside Biomedical appoints Chong as CMO

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Abivax SA Sponsored ADR (ABVX – Research Report), ...

Analysts Have Conflicting Sentiments on These Healthcare Companies: Abivax SA Sponsored ADR (ABVX), RxSight (RXST) and Clearside Biomedical (CLSD)

<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

Clearside Biomedical (CLSD) has issued an announcement. Clearside Biomedical, Inc. has appointed Anthony S. Gibney, a seasoned executive with a ric...