Crawford & Company Common Stock Stock (NYSE: CRD/A)

Crawford & Company Common Stock Stock (NYSE:CRD/A), Trade Ideas

Crawford & Company Common Stock

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Stocks That Hit 52-Week Highs On Tuesday

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Crawford & Co

<a target="_blank" href="https://www.benzinga.com/news/24/01/36672636/rivian-revs-up-options-now-lease-r1s-suv-alongside-r1t-truck" rel="noreferrer noopener">Rivian Automotive Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)&nbsp;looks like&nbsp;it&#8217;s&nbsp;scheduled&nbsp;to open a new dealership in&nbsp;Tesla&#8216;s home state of Texas next month.&nbsp;
What Happened: The new space in Austin&nbsp;is set&nbsp;to open on May 24, according to its Google Business listing.
The dealership, as per the map data, seems to be located off South Congress Avenue in Austin, about 14 miles from <a href="https://www.benzinga.com/news/23/10/35141523/rivian-closing-the-gap-with-tesla-in-premium-ev-market-what-data-reveals" target="_blank" rel="noreferrer noopener">Tesla&#8217;s gigafactory</a>. Rivian already has dealerships with service centers in Austin, Dallas, and Houston.
Rivian did not immediately respond to Benzinga&#8216;s request for confirmation.
<figure class="wp-block-image size-full"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19024903/Screenshot-2024-04-19-at-12.18.53%E2%80%AFPM.png" alt="" class="wp-image-299318" /></figure>
Why It Matters: Rivian &#8220;spaces,&#8221; as they call them, are dealerships where customers can interact with the company&#8217;s lineup. The company already has dealerships across Colorado, Illinois, California, and New York.
Irvine, California-based Rivian first announced&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37279528/tesla-ceo-elon-musk-says-rivian-exec-team-needs-to-live-in-the-factory-or-they-will-die" rel="noreferrer noopener">the Austin dealership</a>&nbsp;in June 2023. The 10,000-square-foot space will have a rooftop patio with city views and direct access to the Lady Bird Lake biking and running trail.
Rivian Takes Aim At Tesla&#8217;s Dominance: Both Tesla and Rivian offer electric SUVs and pickup trucks. Tesla&#8217;s Cybertruck competes with the Rivian R1T in the pickup segment, while the Rivian R1S SUV rivals Tesla&#8217;s Model X. 
Tesla CEO&nbsp;Elon Musk&nbsp;previously cast doubt on Rivian&#8217;s long-term viability, citing potential financial struggles.&nbsp;
The EV maker lost nearly $43,372 per vehicle delivered in the last quarter of 2023,&nbsp;but this&nbsp;is a significant improvement from prior quarters.&nbsp;
The company aims to achieve gross margin profitability by the end of 2024.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and" target="_blank" rel="noreferrer noopener">No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned ‘Complex And Inefficient'</a>

Tech

RIVN

Rivian's Newest Dealership In Texas Will Be Just 14 Miles From Tesla's Gigafactory, Google Data Shows

&nbsp;This deficiency will be considered by the Hearings Panel (the &quot;Panel&quot;) at a hearing that has been scheduled for April 25, 2024 (the &quot;Hearing&quot;) to address the Company&#39;s other current deficiencies.
As previously reported on May 8, 2023, due to the resignation of one of the Company&#39;s board members from its Board of Directors and therefore its Audit Committee on April 12, 2023, the Company no longer complied with the Audit Committee Requirements. Pursuant to Listing Rule 5605(c)(4), Nasdaq provided the Company a cure period to regain compliance with the Audit Committee Requirements, which ended on April 12, 2024.

BRSH

Brüush Oral Care Receives Additional Delisting Threat Over Audit Committee Non-Compliance

Biophytis SA (Nasdaq CM:BPTS)(PARIS:<a class="ticker" href="https://www.benzinga.com/stock/ALBPS#PARIS">ALBPS</a>), (&quot;Biophytis&quot; or the &quot;Company&quot;), a clinical-stage biotechnology company specialized in thedevelopment oftherapeutics for age-related diseases, today annouces that it will change the ratio of its American Depositary Shares (the &quot;ADSs&quot;) to Biophytis ordinary shares (the &quot;Shares&quot;) from one ADS representing 100 Shares, to one ADS representing 4,000 Shares (the &quot;Ratio Change&quot;). The effective date of the Ratio Change (the &quot;Effective Date&quot;) is expected to be April 23, 2024.

BPTS

PARIS:ALBPS

Biophytis Announces ADR Ratio Change: From 100 To 4,000 Shares Per ADS, Effective April 23

CNBC&#8217;s Jim Cramer warned that the market hasn&#8217;t found its bottom, advising against buying the dip. Tom Lee of Fundstrat echoed this caution, urging investors to hold off on purchasing stocks, anticipating a forthcoming wave of selling that could signal a bottom in the weeks ahead.
What Happened: Cramer, during his show &#8220;Mad Money,&#8221; suggested that the market is still in a downward trend, <a href="https://www.cnbc.com/2024/04/18/jim-cramer-says-the-market-hasnt-reached-a-real-bottom-yet.html">reported</a> CNBC. He cautioned investors to refrain from buying at the start of the session, stating that this is not the right move. 
Meanwhile, Lee cautioned that the recent surge in the VIX, the market&#8217;s volatility gauge, could prompt further selling, adding to the short-term pressure on stocks, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-bottom-buy-the-dip-sell-fundstrat-2024-4">reported</a> Business Insider. 
&#8220;While we normally like to buy dips, as we said earlier this week, the surge in the VIX says we gotta take buying the dip extra slowly,&#8221; Lee said in a video sent to clients on Thursday.
Despite this, Lee suggested that a buying opportunity might emerge soon, as the market seems poised to bottom out, with positive catalysts such as robust corporate earnings growth and potential Fed rate cuts still in play.
&#8220;I think there&#8217;s a widespread belief that you can still buy the dip. That&#8217;s been the right move ever since long-term interest rates peaked back in October,&#8221; he said. &#8220;Now, though, buying the dip is the quintessential wrong thing to do.&#8221;
Cramer pointed out that there are not enough companies with &#8220;brown shoots,&#8221; or disappointing earnings. He also highlighted the unpredictable patterns of market leaders such as Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), suggesting that investors should not assume that they have reached the bottom.
According to Cramer, the market requires a &#8220;vicious open,&#8221; followed by a &#8220;crescendo&#8221; moment, to reach a lasting bottom. He noted that the S&amp;P 500 has seen green intraday before closing lower each day this week.
Lee predicted that the market could hit a trough within the next month, provided that the Middle East conflict does not escalate further, volatility eases, and investors slow their pace of selling. He also forecasted that the S&amp;P 500 could reach 5,200 by the end of the year, with a best-case scenario of 5,500 or higher.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38293168/macro-guru-raoul-pal-says-80-of-his-crypto-investment-is-in-this-ethereum-rival-and-i-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Macro Guru Raoul Pal Says 80% Of His Crypto Investment Is In This Ethereum Rival: &#8216;And I Have 1% In Stupid S&#x2A;&#x2A;t Like Dogwifhat, Dogecoin And Bonk&#8217;</a>
Why It Matters: Cramer&#8217;s warning comes after he outlined potential factors that could lead to further market decline in a previous show. He advised investors to be cautious about their buying and selling decisions, <a href="https://www.benzinga.com/markets/equities/24/04/38306086/jim-cramer-explains-what-could-trigger-further-market-decline-if-you-want-to-get-out-go-ahead">stating</a>, &#8220;If you want to get out, go ahead.&#8221;
Despite recent concerns, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">Wall Street veterans</a> are confident that the bull market will persist, citing a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers. The U.S. stock market experienced a recent downturn due to escalating tensions in the Middle East and apprehensions about monetary policy.
Earlier in April, Lee had <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38214726/fundstrats-tom-lee-encourages-investors-to-seize-market-dip-amid-inflation-concerns">encouraged investors to seize the market dip</a> following an inflation-induced sell-off, suggesting that a potential June rate cut was still on the table. However, his recent cautionary advice suggests a shift in the market dynamics.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38303079/most-s-p-500-stocks-no-longer-trade-above-50-day-average-healthy-pullback-or-is-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Most S&amp;P 500 Stocks No Longer Trade Above 50-Day Average: Healthy Pullback Or Is The Bull Market Over?</a>
Image Via Shutterstock
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Equities

NVDA

TSLA

Buying The Dip? Jim Cramer And Tom Lee Warn Market Hasn't Hit Rock Bottom Yet: 'Quintessential Wrong Thing To Do'

Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has declared that it will no longer disclose its subscriber count every quarter, hinting at a potential deceleration in user growth.
What Happened: Netflix&#8217;s unexpected decision led to a dip in the company&#8217;s stock, Reuters last Friday. The streaming giant added 9.3 million new subscribers in Q1, nearly twice the predicted number. 
By the end of March, Netflix had a worldwide subscriber base of 269.6 million, marking a year-over-year growth of 16.0%. However, the company will stop revealing subscriber additions each quarter from Q1 2025, choosing to announce them only when significant milestones are achieved.
Co-CEO Greg Peters stated, &#8220;This change is really motivated by wanting to focus on what we see are the key metrics that we think matter most to business.&#8221;
Analysts fear that this move could unsettle investors and make it difficult for Wall Street to model the company&#8217;s business.
See Also: <a href="https://www.benzinga.com/news/24/04/38286236/once-trumper-scaramucci-warns-re-electing-ex-president-would-result-in-american-fascism-and-be-very?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Once-Trumper&#8217; Scaramucci Warns Re-Electing Ex-President Would Result In &#8216;American Fascism&#8217; And Be &#8216;Very Bad&#8217; For Business: &#8216;He Wants To Be North American Autocrat&#8217;</a>
Why It Matters: This decision follows <a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda">Netflix&#8217;s first-quarter earnings report,</a> where the company reported a revenue of $9.37 billion, up 14.8%, beating a Street consensus estimate of $9.275 billion. This report also revealed that Netflix added 9.33 million paid subscribers, surpassing expectations.
However, just a week before the earnings report, an analyst from Piper Sandler<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38228178/netflix-q1-subscriber-estimates-too-high-analyst-cautions-on-elevated-expectations-"> cautioned about inflated expectations</a> for Netflix&#8217;s Q1 subscriber numbers.
Price Action: On Thursday, Netflix closed at $610.56, 0.51% lower than its previous close. It was trading at $581.49 in the after-hours market.
Read Next: <a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned &#8216;Complex And Inefficient&#8217;</a>
Photo by freestocks on Unsplash
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Entertainment

General

NFLX

Netflix Is Dumping Quarterly Subscriber Reports: Co-CEO Greg Peters Says This Is What Motivated The Change

LIFW

Reported Earlier, LifeWallet Strikes Settlement With 10 Affiliated P&C Insurers, Expanding Claims Processing In 15 States

NGMS

Reported Earlier, NeoGames And Aristocrat Secure Final Regulatory Nods For Acquisition Deal

Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) reported quarterly earnings of $1.40 per share which beat the analyst consensus estimate of $1.14 by 22.81 percent. The company reported quarterly sales of $72.600 million which beat the analyst consensus estimate of $57.810 million by 25.58 percent. This is a 22.64 percent increase over sales of $59.200 million the same period last year.

Earnings

Earnings Beats

Banco Latinoamericano Q1 2024 GAAP EPS $1.40 Beats $1.14 Estimate, Sales $72.600M Beat $57.810M Estimate