Cronos Group Stock (NASDAQ:CRON), Trade Ideas

Cronos Group

Cronos Group, headquartered in Toronto, Canada, cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis primarily to Israel. In the U.S. the company has an option to acquire 10.5% of U.S. multistate operator PharmaCann upon easing of federal prohibition.

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News

CRON

Cronos Group shares are trading lower by 3.3% during Tuesday&#39;s session. Shares of cannabis stocks are trading lower in sympathy with Tilray.

Why Cronos Group Shares Are Falling

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The Canadian cannabis sector is witnessing a notable upswing, driven by recent developments including Tilray&#39;s (NASDAQ: TLRY) earnings report, Organigram&#39;s investor day (NASDAQ: OGI) and pivotal movements by Canopy Growth (NASDAQ: 

NASDAQ-Listed Marijuana Stocks, Tilray, Canopy, Aurora Rally: What&#39;s Behind The Surge?

Pre-Market Outlook

Movers

DXYZ

LEVI

MGNX

MNMD

U.S. stock futures were higher this morning, with the Dow futures gaining by around 90 points on Thursday.

Simulations Plus Posts Upbeat, Joins Levi Strauss, BlackBerry And Other Big Stocks Moving Higher In Thursday&#39;s Pre-Market Session

Cronos Group Inc

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Crona Corp

<ul>
<li>Leverage ratio of 4.5%, in line with previous quarter</li>
<li>Provision for credit losses of &euro; 439 million, down 10% from &euro; 488 million in fourth quarter of 2023; full-year guidance reaffirmed at higher end of range of 25-30 basis points of average loans</li>
</ul>

Earnings

General

Deutsche Bank Reports Q1 Common Equity Tier 1 Capital Ratio Of 13.4% After Deductions For Shareholder Distributions And Business-driven Growth In Risk Weighted Assets

Deutsche Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) reported quarterly earnings of €0.69 per share which beat the analyst consensus estimate of €0.62 by 11.29 percent. This is a 13.11 percent increase over earnings of €0.61 per share from the same period last year. The company reported quarterly sales of €7.779 billion which beat the analyst consensus estimate of €7.711 billion by 0.89 percent. This is a 1.29 percent increase over sales of €7.680 billion the same period last year.

Earnings Beats

Deutsche Bank Q1 2024 GAAP EPS €0.69 Beats €0.62 Estimate, Sales €7.779B Beat €7.711B Estimate

Bernstein analyst Daniel Roeska initiates coverage on General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) with a Outperform rating and announces Price Target of $55.

Price Target

Initiation

Bernstein Initiates Coverage On General Motors with Outperform Rating, Announces Price Target of $55

Wedbush analyst Richard Anderson downgrades First Industrial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>) from Outperform to Neutral and lowers the price target from $59 to $49.

Downgrades

Wedbush Downgrades First Industrial Realty to Neutral, Lowers Price Target to $49

Truist Securities analyst Miller Jump downgrades HashiCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCP#NASDAQ">HCP</a>) from Buy to Hold and raises the price target from $27 to $35.

Truist Securities Downgrades HashiCorp to Hold, Raises Price Target to $35

Elon Musk&nbsp;reacted to a user&#8217;s jest about the whereabouts of a former&nbsp;OpenAI chief scientist&nbsp;Ilya Sutskever, after Greg Brockman shared a photo with Sam Altman and&nbsp;Nvidia&nbsp;CEO&nbsp;Jensen Huang. 
What Happened: On Wednesday, Brockman, the president of ChatGPT&#8217;s parent company, took to X, formerly Twitter, and <a href="https://www.benzinga.com/news/24/04/38422652/jensen-huang-hand-delivers-nvidias-first-dgx-h200-gpu-to-openais-sam-altman-to-advance-ai-computing">shared the photo</a> saying, &#8220;First NVIDIA DGX H200 in the world, hand-delivered to OpenAI and dedicated by Jensen &#8216;to advance AI, computing, and humanity.'&#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">First <a href="https://twitter.com/nvidia?ref_src=twsrc%5Etfw">@NVIDIA</a> DGX H200 in the world, hand-delivered to OpenAI and dedicated by Jensen &quot;to advance AI, computing, and humanity&quot;: <a href="https://t.co/rEJu7OTNGT">pic.twitter.com/rEJu7OTNGT</a>
&mdash; Greg Brockman (@gdb) <a href="https://twitter.com/gdb/status/1783234941842518414?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Following this, an X user, humorously commented,&nbsp;&#8220;Tell the truth. Is Ilya&nbsp;in the box?,&#8221; to which Tesla and SpaceX CEO&nbsp;Elon Musk responded&nbsp;with a face with tears&nbsp;of joy emoji.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Massive $1B Bet On Nvidia H100 GPU Cluster Will Dwarf Every Other Company&#8217;s Target, But Zuckerberg Reveals Original Goal Was This, Not AI</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1783262978193948851?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The <a href="https://www.benzinga.com/news/24/03/37809836/nvidia-reveals-blackwell-gpu-highlights-partnerships-with-top-companies-at-gtc-the-whole-industry-is">DGX H2000 is being hailed</a> as the most potent GPU globally. The H200 GPU succeeds the highly acclaimed H100 GPU, boasting 1.8 times the memory capacity and 1.4 times the bandwidth of its predecessor.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The mention of&nbsp;Sutskever, OpenAI&#8217;s chief scientist, in the user&#8217;s comment has sparked renewed interest in <a href="https://www.benzinga.com/news/24/03/37814793/sam-altman-laughs-off-speculation-about-openais-ilya-sutskevers-whereabouts-i-really-hope-we-work-to">Sutskever&#8217;s mysterious absence</a>. Sutskever has been missing from the public eye since his <a href="https://www.benzinga.com/23/11/35861681/sam-altman-and-greg-brockman-shocked-and-saddened-after-removal-from-openai-over-google-meet">controversial &#8220;palace coup&#8221; in November</a>. 
His absence has been a subject of speculation, with even Sam Altman, OpenAI&#8217;s CEO, addressing the issue in a podcast. &#8220;I love Ilya. I have tremendous respect for Ilya. I really hope we work together for certainly the rest of my career,&#8221; the OpenAI CEO said in a conversation with Lex Fridman. 
Last year, following OpenAI employees&#8217; <a href="http://benzinga.com/news/23/11/35871393/openais-internal-strife-cto-coo-and-other-employees-unite-in-support-of-sam-altman" target="_blank" rel="noreferrer noopener">open rebellion</a> against the sudden firing of Altman and Brockman, Sutskever said that he would try to reunite the company. &#8220;I deeply regret my participation in the board's actions. I never intended to harm OpenAI,&#8221; he said at the time. 
Helen Toner, another board member who was part of Sutskever&#8217;s bid to remove Altman <a href="https://www.benzinga.com/news/23/11/35912540/sam-altman-tried-to-push-out-another-board-member-before-losing-and-getting-ousted-himself-report">left ChatGPT-parent</a> but Sutskever is still a part of it.
Check out more of Benzinga's Future Of Consumer Tech 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/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Says He Feels &#8216;Like A Wince&#8217; When Saying &#8216;GPU&#8217; As He Boasts Rapid Progress With AI Compute: &#8216;Need A New Word&#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.
Photos courtesy: Shutterstock

Tech

Elon Musk Laughs As X User Quip On Nvidia CEO Jensen Huang's Picture With Sam Altman And Greg Brockman: 'Is Ilya In The Box?'

Retail pharmacy giant&nbsp;Walgreens Boots Alliance Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) is bolstering its specialty pharmacy services, aiming&nbsp;to enhance patient outcomes and value for stakeholders.
The company unveiled Walgreens Specialty Pharmacy, an encompassing initiative to cater to patients with complex, chronic conditions while fostering profitable partnerships.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/03/37967312/walgreens-challenges-nearly-1b-arbitration-award-over-alleged-breach-of-covid-19-test-business-con" rel="noreferrer noopener">Walgreens Challenges Nearly $1B Arbitration Award Over Alleged Breach of COVID-19 Test Business&nbsp;Contract</a>
Walgreens Specialty Pharmacy introduces a comprehensive suite of services, including gene and cell therapy solutions, marking a significant advancement in the company&#8217;s healthcare offerings.
Anchored by an 18,000-square-foot Innovation Center in Pittsburgh, Pennsylvania, the initiative focuses on managing therapy complexities and ensuring patient success.
Under the expanded business, Walgreens will operate four central specialty pharmacies, each with national accreditations and expertise in dispensing intricate medications.
Additionally, the company&#8217;s expansive network comprises nearly 300 community-based specialty&nbsp;pharmacies,&nbsp;strategically positioned for swift medication access and tailored patient services.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37981845/walgreens-boots-alliance-cuts-higher-end-of-2024-profit-outlook-takes-5-8b-impairment-charge-relate" rel="noreferrer noopener">Walgreens Boots Alliance Cuts Higher End Of 2024 Profit Outlook, Takes $5.8B Impairment Charge Related To VillageMD&nbsp;Business</a>
With over 1,500 specialty-trained pharmacists and 5,000 patient advocacy support members, Walgreens Specialty Pharmacy&nbsp;is primed&nbsp;to address the burgeoning demand for specialized care.
Specialty medications constitute a significant portion of the U.S. prescription drug market, driving the need for tailored solutions.
Walgreens Specialty Pharmacy aims to meet this demand by streamlining care coordination across stakeholders, thereby enhancing patient access and driving cost efficiencies.
Effective August 1, 2024, AllianceRx Walgreens Pharmacy will transition to Walgreens Specialty Pharmacy, offering enhanced resources and clinical support to patients.
Walgreens&nbsp;stock lost over 48% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco High Yield Equity Dividend Achievers ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEY#NASDAQ">PEY</a>) and&nbsp;Invesco Dow Jones Industrial Average Dividend ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJD#NYSE">DJD</a>).
Price Action: WBA shares are trading higher by 0.79% at $17.94 in premarket at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Walgreens Expands Specialty Pharmacy Business To Include Gene and Cell Services: Details

HSBC analyst Parash Jain upgrades United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) from Hold to Buy and raises the price target from $150 to $170.

Upgrades

HSBC Upgrades United Parcel Service to Buy, Raises Price Target to $170

Keybanc analyst Kenneth Zener upgrades Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) from Sector Weight to Overweight and announces $400 price target.

Keybanc Upgrades Sherwin-Williams to Overweight, Announces $400 Price Target

PureTech Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTC#NASDAQ">PRTC</a>) reported quarterly losses of $(0.24) per share which beat the analyst consensus estimate of $(0.93) by 74.19 percent. The company reported $3.330 million in sales this quarter. This is a 78.68 percent decrease over sales of $15.618 million the same period last year.

PRTC

PureTech Health FY 2023 GAAP EPS $(0.24) Beats $(0.93) Estimate, Sales $3.330M Down From $15.618M YoY

The CHIPS and Science Act grants of $6.1 billion will support Micron&#39;s plans to invest approximately $50 billion in gross capex for U.S. domestic leading-edge memory manufacturing through 2030. These grants and additional state and local incentives will support the construction of one leading-edge memory manufacturing fab to be co-located with the company&#39;s existing leading-edge R&amp;D facility in Boise, Idaho and the construction of two leading-edge memory fabs in Clay, New York.

Government

Large Cap

Micron Technology And The Biden-Harris Administration Have Signed A Non-binding Preliminary Memorandum Of Terms For $6.1B In Funding Under The CHIPS And Science Act To Support Planned Memory Manufacturing In Idaho And New York

Full-year 2024 revenues are expected to increase&nbsp;1.5%&nbsp;to&nbsp;3.5%&nbsp;on a reported basis and increase&nbsp;1%&nbsp;to&nbsp;3%&nbsp;organically, after excluding the expected impacts of acquisitions, divestitures and foreign currency movements.

Guidance

ALLE

Allegion Reaffirmed FY24 Outlook: Adjusted EPS At $7.00-$7.15 Vs. $7.07 Estimate, Revenue Growth At 1.5%-3.5%

Needham analyst Quinn Bolton upgrades Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) from Hold to Buy and announces $150 price target.

SLAB

Needham Upgrades Silicon Laboratories to Buy, Announces $150 Price Target

. This will enable TCO to expand Tengiz crude oil production by an incremental 12 million tons per annum (260,000 barrels a day)

Commodities

Chevron announced that its 50% owned affiliate Tengizchevroil has commenced operations at its Wellhead Pressure Management Project at the Tengiz oil field in Kazakhstan, The final phase of TCO's expansion project, is on track to conclude in 1H 2025

Needham analyst Ami Fadia reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Buy and maintains $294 price target.

Reiteration

BIIB

Needham Reiterates Buy on Biogen, Maintains $294 Price Target

Allegion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLE#NYSE">ALLE</a>) reported quarterly earnings of $1.55 per share which beat the analyst consensus estimate of $1.45 by 6.9 percent. The company reported quarterly sales of $893.900 million which beat the analyst consensus estimate of $884.249 million by 1.09 percent. This is a 3.15 percent decrease over sales of $923.000 million the same period last year.

Allegion Q1 2024 Adj EPS $1.55 Beats $1.45 Estimate, Sales $893.900M Beat $884.249M Estimate

Keefe, Bruyette &amp; Woods analyst Catherine Mealor upgrades Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) from Market Perform to Outperform and raises the price target from $30 to $36.

TRMK

Keefe, Bruyette & Woods Upgrades Trustmark to Outperform, Raises Price Target to $36

Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), has seemingly <a href="https://www.benzinga.com/general/gaming/24/02/37305770/mark-zuckerberg-on-a-mission-to-outdo-apple-vision-pro-meta-ceo-reportedly-eyes-south-korean-colla">taken a dig</a> at Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro.
What Happened: Zuckerberg expressed his skepticism about the mainstream success of augmented reality (AR) glasses, particularly those without &#8220;full holographic displays," in a subtle jab at Apple Vision Pro during Meta&#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>.
&#8220;Now, it seems pretty clear that there&#8217;s also a meaningful market for fashionable AI glasses without a display."
Meta&#8217;s latest version of Ray-Ban smart glass, <a href="https://www.benzinga.com/general/entertainment/23/09/34964097/watch-mark-zuckerberg-unveils-metas-ai-smart-glasses-that-can-decode-anything-youre-looking">launched in September</a>, starts at $299 and comes with Meta AI, a camera, call-making capabilities, and built-in speakers.
Zuckerberg also emphasized the potential of these glasses as a &#8220;pretty meaningful and growing platform sooner than then I would have expected so.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Despite Meta&#8217;s Quest virtual reality headset competing with Apple&#8217;s Vision Pro, Zuckerberg has previously stated that he does not envision a future where people walk around with virtual reality headsets.
See Also: <a href="https://www.benzinga.com/news/24/04/38422652/jensen-huang-hand-delivers-nvidias-first-dgx-h200-gpu-to-openais-sam-altman-to-advance-ai-computing">Jensen Huang Hand-Delivers Nvidia&#8217;s First DGX H200 GPU To OpenAI&#8217;s Sam Altman To &#8216;Advance AI, Computing, And Humanity&#8217;</a>
Why It Matters: This isn&#8217;t the first time Zuckerberg has taken a swipe at the Apple Vision Pro. In February, he <a href="https://www.benzinga.com/general/entertainment/24/02/37116135/mark-zuckerberg-finally-tries-apples-vision-pro-and-says-metas-quest-3-is-the-better-produc">posted a video</a> reviewing Apple&#8217;s competing device, stating that the Quest not only had better value but was also &#8220;the better product period.&#8221;
This was echoed by Meta&#8217;s CTO, Andrew Bosworth, who <a href="https://www.benzinga.com/general/entertainment/24/02/37175237/metas-tech-chief-echoes-zuckerbergs-review-of-apple-vision-pro-says-way-too-much-weight-dis">highlighted several issues</a> with the Vision Pro, dismissing reports about its technological superiority.
In March, Zuckerberg also <a href="https://www.benzinga.com/news/24/03/37616210/mark-zuckerberg-refutes-analysts-claim-quest-not-basically-just-the-same-as-apples-vision-pro">refuted the notion</a> that the Vision Pro was comparable to Meta&#8217;s Quest lineup.
Meanwhile, Apple&#8217;s Vision Pro has been facing challenges, with reports of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397921/apple-in-trouble-tim-cook-reportedly-cuts-vision-pro-shipment-forecasts-by-up-to-50">a significant drop in demand</a> leading to a cut in shipment forecasts by up to 50%.
Price Action:&nbsp;Meta stock closed 0.52% lower at $493.50 on Wednesday, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended" target="_blank" rel="noreferrer noopener">Meta CEO Mark Zuckerberg: ‘More Than 50% Of The Content People See On Instagram Is Now AI Recommended'</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.
Photo courtesy: Ray-Ban

AAPL

Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It 'Fashionable AI Glasses Without A Display'

BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), the world&#8217;s largest mining company, has initiated a bid to acquire rival Anglo American Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTC">AAUKF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTC">NGLOY</a>), potentially triggering significant upheaval in the industry after years of dormancy.
Anglo American, valued at £27 billion ($34 billion),&nbsp;<a target="_blank" href="https://www.angloamerican.com/media/press-releases/2024/25-04-2024" rel="noreferrer noopener">disclosed</a>&nbsp;that it had received an unsolicited merger proposal&nbsp;in the form of&nbsp;a stock exchange offer.
The proposed merger is contingent on Anglo divesting its South African platinum and iron ore units.
If successful, this deal would signify a resurgence in large-scale transactions for BHP, which, under CEO Mike Henry, has rekindled its appetite for transformative acquisitions in recent years, according to a report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-24/bhp-group-is-said-to-weigh-potential-takeover-of-anglo-american?srnd=homepage-asia&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
The report further noted that a merger with Anglo would establish the world&#8217;s leading copper producer, positioning itself to meet the surging demand from emerging energy&nbsp;sectors,&nbsp;while potentially attracting other competitors seeking to bolster their output.
Anglo American, long identified as an attractive target among&nbsp;major&nbsp;mining firms, possesses substantial copper operations in South America, a coveted asset in an industry focused on augmenting reserves and production.
Nevertheless, its intricate corporate structure and diverse commodity portfolio,&nbsp;coupled with&nbsp;significant exposure to South Africa,&nbsp;have deterred suitors, as per the report.
BHP produced approximately 1.2 million tons of copper in 2023, while Anglo yielded 826,000 tons, positioning the combined entity to command around 10% of&nbsp;global&nbsp;mine supply.
However, regulatory hurdles loom as governments view copper as a strategic resource, the report mentioned.
Anglo American&nbsp;stated that its board is evaluating the proposal, with no assurance of a forthcoming offer.
BHP&nbsp;stock gained over 3% in the last 12 months. Investors can gain exposure to the stock via Pacer&nbsp;Trendpilot International ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTIN#NYSE">PTIN</a>) and&nbsp;Avantis International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/03/37789877/bhp-to-slash-australian-workforce-as-nickel-market-downturn-continues" rel="noreferrer noopener">BHP To Slash Australian Workforce As Nickel Market Downturn Continues</a>
Price Action: BHP shares are trading lower by 3.12% at $57.39 in premarket at&nbsp;the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Media

AAUKF

AVDE

NGLOY

PTIN

World's Largest Miner BHP Bids To Takeover Anglo American As Hunt For Resources Intensify

Needham analyst Ami Fadia reiterates Day One Biopharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAWN#NASDAQ">DAWN</a>) with a Buy and maintains $33 price target.

DAWN

Needham Reiterates Buy on Day One Biopharmaceutical, Maintains $33 Price Target

ACOR, HUBC and DATS among pre-market losers

We've heard this song before - "the Senate is on course to pass new cannabis banking rules in the not-too-distant future" - but investors are still dancing to the beat.

Hope Springs Eternal: Canadian Cannabis LPs Index Up 20% Last Week

FDA chief sees no reason for delay in cannabis rescheduling

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
There is no doubt that <a href="https://investorplace.com/stock-types/blue-chip-stocks/">blue-chip stocks</a> are steady value creators and act as a fortress for the portfolio. However, it&rsquo;s growth and high-potential <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> that can make millionaires.



A general tendency is to look at penny stocks purely as a speculative bet. That&rsquo;s understandable in specific cases where the rally is driven by factors like short-squeeze. However, a deeper look into the world of penny stocks will reveal names that are fundamentally strong.



Further, selected penny stocks represent business that have immense growth potential in the long term. Of course, there&rsquo;s many a slip between the cup and the lip. Exposure to quality penny stocks should be limited to 15% of the portfolio considering the high-beta factor.



Having said that, when the target is 10x returns, even 15% allocation is likely to have a significant impact on total portfolio returns. Let&rsquo;s therefore talk about seven high-potential penny stocks to buy for multibagger returns by 2029.



<h2>Cronos (CRON)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/cannabis_1600_1793299462-300x169.png" alt="Young green medicinal marijuana plant in a pot after a rain fall shallow depth of field with focus on leaf; cannabis stocks"><div>Source: gvictoria / Shutterstock.com</div></div>Cronos (NASDAQ:<a href="https://investorplace.com/stock-quotes/cron-stock-quote/">CRON</a>) is a high-potential penny stock that can deliver 10x or 20x returns by 2029. The cannabis sector has ample headroom for growth and regulatory headwinds has been waning.



It&rsquo;s worth noting that CRON stock has trended higher by almost 35% in the last six months. The rally has been backed by positive business developments. Further, the news of Germany legalizing cannabis has been a catalyst for the rally. Additionally, there is a strong case for reclassification of cannabis as a Schedule III drug in the United States. If this happens in the coming quarters, CRON stock is likely to go ballistic.



From a financial perspective, Cronos reported a strong cash buffer of $862 million as of 2023. This provides flexibility for aggressive growth investments. Cronos has also been pursuing geographic expansion. The Company has presence in Canada and Israel. In the recent past, Cronos <a href="https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-group-reports-2023-fourth-quarter-and-full-year-results1">has ventured into</a> Australia and Germany in the medicinal cannabis market. As the addressable market expands, growth is likely to accelerate.



<h2>Solid Power (SLDP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/sldp_solid_power_1600-300x169.png" alt="Smartphone with logo of American battery company Solid Power Inc. on screen in front of business website. Focus on center-left of phone display."><div>Source: T. Schneider / Shutterstock.com</div></div>In the solid-state batter space, Solid Power (NASDAQ:<a href="https://investorplace.com/stock-quotes/sldp-stock-quote/">SLDP</a>) is an attractive pick. If the Company can commercialize solid-state batteries in the next few years, multibagger returns are on the cards. After a deep correction, SLDP stock seems to have bottomed out and has trended higher by 22% for year-to-date. I expect the uptrend to sustain backed by positive business progress.



The first positive is that Solid Power has the backing of automotive majors that include Ford (NYSE:<a href="https://investorplace.com/stock-quotes/f-stock-quote/">F</a>) and BMW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/">BMWYY</a>). In December 2022, the Company licensed its cell design and technology to BMW for parallel research and development. Additionally, Solid Power has <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-and-SK-On-Deepen-Partnership-with-New-Agreements/default.aspx">continued to deepen its partnership</a> with SK On. This will enable the Company to make inroads in the Korean market.



From a business development perspective, Solid Power shipped A-1 cells to automotive partners in October 2023 for validation testing. This year, the Company <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-Full-Year-2023-Results-Reflect-Strong-Execution/default.aspx">has shifted focus</a> to A-2 sample cells. With a strong cash buffer, I don&rsquo;t see any financial concerns. Once automotive validation delivers positive outcome, SLDP stock is likely to surge.



<h2>Blink Charging (BLNK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div>Without a proper EV charging infrastructure, it&rsquo;s impossible for the industry to achieve the EV adoption target in the coming years. EV charging companies are therefore likely to benefit in the coming decade.



Among emerging players, Blink Charging (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/">BLNK</a>) looks promising. In the last 12 months, BLNK stock has plunged by 65%. However, the correction is overdone and I expect a strong reversal.



For 2023, Blink reported revenue growth of 130% on a year-on-year basis to $140.6 million. For the current year, <a href="https://ir.blinkcharging.com/news-events/press-releases/detail/2500/blink-charging-announces-record-fourth-quarter-with-89">revenue is guided</a> at $170 million. Therefore, there is growth deceleration. However, the good news is that expects full year gross margin of 33%. Further, the Company expects to achieve adjusted EBITDA break-even by the end of 2024.



With ample scope for growth in the United States and Europe, I expect renewed acceleration in top-line. Additionally, EBITDA margin expansion is likely to sustain in the coming years on the back of operating leverage and recurring services revenue.



<h2>Standard Lithium (SLI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/sli1600-300x169.png" alt="Standard Lithium logo or icon on website page, Illustrative Editorial"><div>Source: Postmodern Studio / Shutterstock.com</div></div><a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">Lithium stocks</a> have been depressed in the last few quarters and Standard Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/sli-stock-quote/">SLI</a>) is no exception. SLI stock has plunged by 65% in the last 12 months mirroring the deep correction in lithium.



However, purely based on the asset potential, I believe that it&rsquo;s a good time to buy SLI stock. Once lithium reverses, the stock will surge from a deep valuation gap as indicated by the asset net present value.



Currently, Standard Lithium has a market valuation of $218 million. In comparison, the key asset of the company (South West Arkansas) has <a href="https://d1io3yog0oux5.cloudfront.net/_e78c66e58d8d6ed60f616b7a71b68acc/standardlithium/db/314/2108/pdf/Nov+6%2C+2023+Corp+Presentation+RFS.pdf">an after-tax net present value</a> of $4.5 billion. Further, the Lanxess project has an after-tax NPV of $772 million.



Besides the upside in lithium, financing of construction for the South West Arkansas project is a potential game changer. The asset requires a development capex of $1.27 billion. Once financing is secured, SLI stock will skyrocket.



<h2>Aker Carbon Capture (AKCCF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-fingers-300x169.jpg" alt="Image of a penny held between two fingers with a white indoor background. Dividend-Paying Penny Stocks"><div>Source: Shutterstock</div></div>Aker Carbon Capture (OTCMKTS:<a href="https://investorplace.com/stock-quotes/akccf-stock-quote/">AKCCF</a>) has been under-the-radar as the stock trades in the OTC exchange. However, it&rsquo;s among the high-potential penny stocks that can deliver 10x to 20x returns in the coming years.



As an overview, Aker Carbon is in the business of providing products, technology, and solutions in the field of carbon capture. With global focus on decarbonisation, Aker has positive industry tailwinds beyond the decade. Further, with a proven technology, the Company is well positioned for stellar growth. Aker Carbon has already delivered seven carbon capture units with the technology having 60,000 operating hours.



As of Q4 2023, Aker Carbon reported a <a href="https://mb.cision.com/Main/20223/3914955/2561853.pdf">strong order backlog</a> of 2.6 billion Norwegian krone. It&rsquo;s likely that the order backlog will swell significantly in the next few years.



Recently, the Company signed a memorandum of understanding with MAN Energy Solutions in the U.S. The country has a potential market of 200 tons of carbon capture by 2030. Of course, European markets will add to the backlog and Aker is targeting to capture 10 million tonnes CO2 per annum by 2025. This will translate into stellar growth and margin expansion.



<h2>Yatra Online (YTRA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-single-300x169.jpg" alt="A close up photo of a penny. Penny Stocks to Buy"><div>Source: Shutterstock</div></div>Yatra Online (NASDAQ:<a href="https://investorplace.com/stock-quotes/ytra-stock-quote/">YTRA</a>) stock is a micro-cap and hence carries significantly higher risk. However, YTRA stock is deeply undervalued and can surprise in the next few years. As an overview, Yatra is an online travel company in the business of air ticketing, hotels, holiday packages, and other travel related services. The Company&rsquo;s business focus is in India, which is a market with big potential.



To put things into perspective, Indian travellers are set to be the <a href="https://www.cnbc.com/2023/11/02/indian-travelers-are-set-to-be-fourth-largest-global-spenders-by-2030-.html">fourth largest global spenders</a> by 2030. In terms of value, the spending on travel and tourism is predicted at $410 billion by the end of the decade. Clearly, the opportunity is huge and the best part of growth is due for online travel companies.



Specific to Yatra, the corporate travel business is a differentiating factor among online players. Yatra has <a href="https://s22.q4cdn.com/850749348/files/doc_presentations/2024/Feb/15/yatra-investor-presentation-february-2024.pdf">800 corporate customers as clients</a> with an addressable employee base of seven million. At the same time, the Company is increasing focus on the business-to-consumer segment. This is likely to ensure sustainable growth and continued margin expansion.



<h2>Archer Aviation (ACHR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/achr1600-2-300x169.png" alt="Person holding cellphone with logo of American eVTOL aircraft company Archer Aviation Inc. (ACHR) on screen in front of webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>The flying car market is at a nascent growth stage. Early movers are likely to create immense value if the business is backed by innovation and a strong management. To put things into perspective, the flying car market is expected to be <a href="https://asia.nikkei.com/Business/China-tech/China-s-flying-car-developers-ready-for-takeoff-in-2025">worth $9 trillion by 2050</a>.



One company that looks promising is Archer Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/achr-stock-quote/">ACHR</a>). ACHR stock has been in a correction mode in the last six months and it&rsquo;s a good opportunity to accumulate for multibagger returns.



Archer has made significant strides in terms of business progress. It&rsquo;s likely that the Company&rsquo;s eVTOL aircraft will be commercialized in the United States in 2025. During the same year, the Company is also targeting operations in Dubai. Further, Archer has plans to commence operations in India in 2026. In the next 24 months, I expect announcements related to entry into multiple other countries through local partnerships.



Another important point to note is that Archer expects to complete the construction of its manufacturing facility in 2024. This will <a href="https://investors.archer.com/files/doc_financials/2023/q4/Shareholder-Letter-Q423-FINAL.pdf">support production of 650 aircraft annually</a>. This positions Archer to service the existing order backlog of $3.5 billion. It&rsquo;s also likely that the backlog will continue to swell in the coming years.



On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-penny-stocks-that-could-deliver-1000-returns-by-2029/">7 Penny Stocks That Could Deliver 1,000% Returns by 2029</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Penny Stocks That Could Deliver 1,000% Returns by 2029

The bad news from Tilray (its Q3 net loss increased by 128%} took a toll last week on the constituents of both the Canadian Cannabis LPs Index and the American Cannabis MSOs Index with all 12 declining by an average of 12%.

Marijuana Stocks Followed The Leader Last Week Tumbling 12%, On Average

Canopy Growth to expedite entry into U.S. cannabis market

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The next two years can be make-or-break for the cannabis sector. 



The biggest speed bump to growth for cannabis companies is not competition, but regulations headwinds. And it&rsquo;s highly probably those headwinds will wane. Therefore, now is a good time to buy cannabis <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> for multibagger returns with an investment horizon of 24 months.



First, Germany has set the tone with the legalization of cannabis. It&rsquo;s likely that other European countries will follow suit. Further, cannabis will probably be classified as a Schedule III drug in the U.S. With Presidential elections round the corner, expect discussions related to federal level legalization of cannabis.



Also, remember when cannabis companies were struggling with massive cash burn a few years ago? 



Well, that has changed for some of the top companies with cost control and operating leverage. As the addressable market swells, the best cannabis companies will continue to grow and cash flows will swell.



Therefore, let&rsquo;s explore three cannabis penny stocks to buy for multibagger returns.



<h2>Cronos Group (CRON)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/cron1600a-300x169.jpg" alt="marijuana leaf in green traffic light"><div>Source: Shutterstock</div></div>Deeply undervalued, Cronos Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/cron-stock-quote/">CRON</a>) witnessed a healthy rally of 35% in the last six months. This might just be the beginning of a sustained reversal considering multiple positive catalysts.



The first point to note is that Cronos was initially focused on Israel and Canada. Last year, the company entered Germany and Australia focusing on the medicinal cannabis segment. And, entry into Germany couldn&rsquo;t have come at a better time with cannabis being legalized.



Also, Cronos can make aggressive entry in the U.S. The company ended Q4 2023 with a <a href="https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-group-reports-2023-fourth-quarter-and-full-year-results1">cash buffer of $862 million</a>. Positive news on the regulatory front might translate into Cronos pursuing acquisition-driven growth.



Additionally, CRON guided for positive change in net cash position for the current financial year. Therefore, the growth outlook is positive coupled with EBITDA margin improvement.



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



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/shutterstock_1904349628-300x169.png" alt="Closeup of mobile phone screen with logo lettering of cannabinoid company tilray cannabis, blurred marijuana and pipette background"><div>Source: Ralf Liebhold / Shutterstock.com</div></div>New York City-based Tilray Brands (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlry-stock-quote/">TLRY</a>) has slipped after the company reported Q3 2024 results. Some see this correction as a good buying opportunity. If regulatory catalysts play out, the reversal in TLRY stock is likely to be sharp.



But, while Tilray&rsquo;s Q3 numbers missed estimates, the results aren&rsquo;t necessarily disappointing. Tilray Brands reported 30% growth in net revenue to $188 million. Notably, cannabis <a href="https://ir.tilray.com/news-releases/news-release-details/tilray-brands-inc-reports-q3-fiscal-2024-financial-results">revenue increased by 33%</a> year over year (YOY). This was driven by healthy growth in international medicinal cannabis revenue.



At the same time, alcohol net revenue increased by 165% YOY. TLRY maintains its position as the fourth largest craft beer brewer in the U.S. With strong presence in the craft beer business, Tilray Brands also has a strategic infrastructure for cannabis expansion on potential federal level legalization.



Finally, the company ended Q3 2024 with a cash buffer of $226 million. On the flip-side, TLRY doesn&rsquo;t expect to generate positive adjusted free cash flow for the financial year. However, this negative is likely to be offset by positive regulatory news in the coming quarters.



<h2>Curaleaf Holdings (CURLF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-6-300x169.jpg" alt="cannabis stocks, With America Turning Green Things Only Can Get Better for Aurora Stock"><div>Source: Shutterstock</div></div>Founded in 2010, Curaleaf Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/curlf-stock-quote/">CURLF</a>) is another quality cannabis penny stock to buy for multibagger returns. The stock has been trending higher by 83% during the last 12 months. However, it remains undervalued and with positive business developments likely, expect a bigger rally.



When Curaleaf Holdings reported Q4 2023 results, the management indicated that 2024 is likely to be a &ldquo;<a href="https://ir.curaleaf.com/2024-03-06-Curaleaf-Reports-Fourth-Quarter-and-Full-Year-Ended-2023-Results">catalyst year</a>&rdquo; for the company. Curaleaf Holdings is scheduled to report Q1 2024 numbers the second week of May. It may be a good time to consider exposure now. And if growth accelerates, CURLF stock is likely to skyrocket.



Importantly, Curaleaf Holdings reported health adjusted EBITDA margin of 23% for 2023. Further, operating cash flow for the period was $91.2 million. With healthy margin, financial flexibility is likely to remain strong for investment in research and development. Also, strong financial flexibility will ensure that Curaleaf Holdings continues to pursue aggressive medicinal cannabis expansion in Europe.



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



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On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-cannabis-penny-stocks-to-buy-for-3-bagger-returns/">3 Cannabis Penny Stocks to Buy for 3-Bagger Returns</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Cannabis Penny Stocks to Buy for 3-Bagger Returns

The past, present and future of the Canadian cannabis sector based on the performance of the MCCCI, which is a proprietary index of 14 stocks.

The Canadian Cannabis Report - Monday, April 15

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/penny-stocks/">Penny stocks</a> can surprise.



It&rsquo;s just a matter of timing, whether waiting for few months or quarters for a big rally. And when the rally does come, multibagger returns are possible in a matter of weeks. 



While speculative activity in these stocks is high, the ideas are backed by fundamentals. Further, positive business catalysts are likely to trigger positive price-action.



If an interest rate cut happens in the second half of 2024, it will be another catalyst for these penny stocks trending higher. Despite the pros, investors must consider the cons. Limit exposure to penny stocks at 10% to 15% of the overall portfolio.



So let&rsquo;s explore the business factors that are likely to support the bullish thesis on these penny stocks.



<h2>Archer Aviation (ACHR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/achr1600-2-300x169.png" alt="Person holding cellphone with logo of American eVTOL aircraft company Archer Aviation Inc. (ACHR) on screen in front of webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Archer Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/achr-stock-quote/">ACHR</a>) stock has declined by 38% year-to-date (YTD). This correction presents a good opportunity to buy before the flying car stock skyrockets.



In terms of impending catalysts, the company is <a href="https://investors.archer.com/news/news-details/2024/Archer-Successfully-Completes-Multiple-Battery-Pack-Drop-Tests-One-of-the-Most-Challenging-Tests-It-Is-Set-to-Face-as-Part-of-the-FAAs-Type-Certification-Program/default.aspx">preparing for its upcoming for-credit testing</a> with the Federal Aviation Administration (FAA). Once this hurdle is cleared, ACHR is likely to trend higher. I don&rsquo;t see any delay in commercialization of electric vertical take-off and landing (eVTOL) in 2025.



The second catalyst is the completion of the company&rsquo;s eVTOL manufacturing facility before the end of the year. Archer Aviation is targeting production of up to 650 aircraft annually. With an <a href="https://investors.archer.com/files/doc_financials/2023/q4/Shareholder-Letter-Q423-FINAL.pdf">order backlog of $3.5 billion</a>, the company will be positioned to scale up deliveries in 2025 and beyond.



Notably, the company plans to commence operations in 2025 in the U.S. and UAE. Further, operations in India are expected to begin in 2026. Therefore, the stage is set for stellar growth. ACHR stock is likely to discounted these factors in the coming quarters.



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/nio1600-8-300x169.png" alt="A mobile with NIO at horizontal composition."><div>Source: Freer / Shutterstock.com</div></div>No doubt, Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) has faced challenges related to growth and cash burn. However, the stock sell-off seems to be overdone after a near 60% downside in the last 12 months. I expect a sharp reversal rally with multiple potential catalysts.



The electric vehicle (EV) sector has been impacted due to macroeconomic headwinds. Expansionary policies will be one catalyst for NIO stock, likely toward year&rsquo;s end.



Additionally, Nio has commenced deliveries of its 2024 ES8, ES6, EC7, EC6 and ET5T. Further, the <a href="https://ir.nio.com/news-releases/news-release-details/nio-inc-provides-march-and-first-quarter-2024-delivery-update">delivery of 2024</a> ES7, ET7 and ET5 is expected in Q2 of 2024. The upgraded models are likely to boost the product competitiveness and positively impact deliveries growth.



Furthermore, Nio ended 2023 with a <a href="https://ir.nio.com/news-releases/news-release-details/nio-inc-reports-unaudited-fourth-quarter-and-full-year-2023">cash buffer of $8.1 billion</a>. This provides ample flexibility to invest in innovation and growth. With the company also focusing on cost management, it&rsquo;s likely that EBITDA margin will improve in the next few quarters.



<h2>Cronos (CRON)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/cron1600f-300x169.jpg" alt="Forget Legalization: CBD Is Good Enough for CRON Stock"><div>Source: Shutterstock</div></div>In terms of percentage returns, Cronos (NASDAQ:<a href="https://investorplace.com/stock-quotes/cron-stock-quote/">CRON</a>) stock can surprise investors. After remaining depressed for an extended period, the cannabis stock has trended higher by 33% in the last six months. This might just be the beginning of a big rally that&rsquo;s supported by multiple factors.



First, Cronos ended 2023 with a <a href="https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-group-reports-2023-fourth-quarter-and-full-year-results1">cash buffer of $862 million</a>. This provides ample flexibility to pursue aggressive organic and acquisition driven growth.



With Germany recently legalizing cannabis, Cronos entered the new markets of Germany and Australia in 2023. The legalization catalyst is likely to boost growth in the medicinal and recreational segment.



Also, cannabis will probably be reclassified as a Schedule III drug in the U.S. This might be the first step towards federal level legalization which would trigger a big rally for CRON. Overall, regulatory headwinds seem to be waning, which is the biggest reason to expect a sharp rally.



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&nbsp;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">How to Profit Without Getting Scammed</a>



On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-speculative-penny-stocks-that-can-spike-to-double-digits-in-2024/">3 Speculative Penny Stocks That Can Spike to Double Digits in 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Speculative Penny Stocks That Can Spike to Double Digits in 2024

Organigram Is My Favorite Cannabis Stock Again

ACHR

ACOR

ACRHF

AKCCF

AUUD

AYRWF

BCAN

BLNK

BMWYY

BSGM

BTAFF

CLVR

CNBS

CRLBF

CURLF

DATS

FLGC

GCTS

HUBC

INMD

LGVN

MAXN

MEDIF

MSOS

SANG

SLDP

THCX

TSNDF

VINC

VRNOF

WAVE

YOLO

YTRA

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