Castor Maritime Stock (NASDAQ:CTRM), Trade Ideas

Castor Maritime

Castor Maritime Inc is a provider of seaborne transportation services for dry bulk cargo, including iron ore, coal, grain, steel products, fertilizers, cement, bauxite, sugar, and scrap metal, among others. The firm operates under two reportable segments namely Dry bulk; Aframax/LR2 tanker; Handysize tanker and Container ship. It generates maximum revenue from the Dry bulk segment.

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News

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Markets

General

CTRM

Castor Maritime Inc. (NASDAQ: CTRM) on Friday said it inked a pact to sell M/V Magic Venus, a 2010-built Kamsarmax bulk carrier vessel,

Why Castor Maritime Shares Are Gaining Friday

Small Cap

Trading Ideas

CRWD

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

RIVN

TORO

Investors are on the hunt for undervalued, underfollowed and emerging stocks to spot opportunities. Retail traders have countless methods at their disposal to uncover new information. For some, this may be overwhelming.

Benzinga&#39;s &#39;Stock Whisper&#39; Index: 5 Stocks Investors Are Secretly Monitoring, But Not Yet Talking About

Earnings

Castor Maritime Inc (NASDAQ: CTRM) shares are trading higher Wednesday morning after the company reported fourth-quarter financial results.

Why Castor Maritime (CTRM) Shares Are Trading Higher

Castor Maritime Inc

Zenvia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) reported quarterly sales of BRL 217.014 million which missed the analyst consensus estimate of BRL 237.260 million by 8.53 percent. This is a 24.09 percent increase over sales of BRL 174.886 million the same period last year.

Earnings Misses

ZENV

Zenvia Q4 Sales BRL 217.014M Miss BRL 237.260M Estimate, Normalized EBITDA BRL 29.5M Up From BRL 23M YoY

Mark Zuckerberg, the CEO of&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), is reportedly set&nbsp;to celebrate his 40th birthday on his new superyacht, Launchpad, in Panama.
What Happened: The 118-meter yacht, built by Dutch shipyard Feadship, has been the subject of speculation in the yachting world for months, with many believing Zuckerberg to be the owner,&nbsp;<a href="https://www.businessinsider.com/mark-zuckerberg-may-celebrate-40th-birthday-brand-new-superyacht-launchpad-2024-5?IR=T">reported</a>&nbsp;Business Insider.
Launchpad, which&nbsp;arrived in Panama on Monday,&nbsp;has been predominantly moored in Fort Lauderdale, Florida, since its&nbsp;maiden voyage across the Atlantic&nbsp;in March. According to a private jet tracker, Zuckerberg&#8217;s plane also touched down in Panama on Monday, and judging by his Instagram activity, it appears he was on board.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38789719/beating-us-sanctions-chinese-scientists-achieve-mass-production-of-optical-chips-at-low-cost?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Beating US Sanctions, Chinese Scientists Achieve Mass Production Of Optical Chips At Low Cost</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14015819/Screenshot-2024-05-14-at-11.28.07%E2%80%AFAM-1024x867.png" alt="" class="wp-image-336268" /></figure>
Connecting the dots, considering various clues tying Zuckerberg to the yacht, it seems reasonable to conclude that the Meta CEO is probably starting his new decade aboard his newly acquired vessel, the report noted. 
Little is known about the&nbsp;luxury yacht, initially&nbsp;built for a sanctioned Russian&nbsp;businessman before being&nbsp;handed over to the Dutch&nbsp;government. The&nbsp;final purchase price is unknown,&nbsp;but it is estimated to be in the&nbsp;nine figures upfront and six&nbsp;figures annually for maintenance.
Launchpad is believed to have a helipad, a swimming pool on the main deck, and facilities such as a gym, spa, movie room, and a garage for his hydrofoil.
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.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="598" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-1024x598.jpeg" alt="" class="wp-image-336279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-1024x598.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-300x175.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-768x449.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-1536x897.jpeg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large.jpeg 1621w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image credit: Ruben Griffioen / SuperYacht Times</figcaption></figure>
Why It Matters: Zuckerberg&#8217;s birthday celebration on a superyacht comes after a period of transformation for the tech mogul. In an interview with Forbes in September 2023, <a href="https://www.benzinga.com/news/23/09/34949713/from-evil-mark-to-great-philanthropist-meta-ceo-zuckerberg-opts-for-a-bill-gates-style-metamorphosis">Zuckerberg expressed his desire to follow</a> in the footsteps of Microsoft co-founder&nbsp;Bill Gates, aiming to mature personally and professionally.
Meanwhile, Zuckerberg&#8217;s net worth has also continued to soar. Last year, his net worth&nbsp;<a href="https://www.benzinga.com/general/24/05/38643768/mark-zuckerbergs-net-worth-grew-by-84-billion-in-2023-but-his-salary-was-just-1">increased by $84 billion</a>, making him the fourth-richest person in the world.
According to the Bloomberg Billionaire Index, Zuckerberg&#8217;s total net worth at the moment is $167 billion.
Photo courtesy: Brian Solis via Flickr
Check out more of&nbsp;Benzinga's&nbsp;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/24/05/38779672/whats-new-in-consumer-tech-world-last-week-news-that-you-should-know-may-5-may-11-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s New In Consumer Tech World Last Week? News That You Should Know (May 5-May 11, 2024)</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Tech

Media

Mark Zuckerberg Turns 40 In Style As Meta CEO Reportedly Celebrates Birthday Party On $300M Superyacht In Panama

Belite Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLTE#NASDAQ">BLTE</a>) reported quarterly losses of $(0.27) per share which beat the analyst consensus estimate of $(0.28) by 3.57 percent. This is a 18.18 percent increase over losses of $(0.33) per share from the same period last year.
As of March 31, 2024, the Company had $95.5 million in cash and U.S treasury bills.

Earnings Beats

BLTE

Belite Bio Q1 2024 GAAP EPS $(0.27) Beats $(0.28) Estimate

<ul>
<li>First preclinical data set for IPH45, a pre-IND anti-Nectin-4 Antibody Drug Conjugate, presented as an oral presentation at AACR 2024</li>
<li>Progression of Sanofi-developed NK Cell Engager SAR443579/IPH6101 to Phase 2 in blood cancers</li>
<li>Five ASCO Annual Meeting 2024 abstracts:
<ul>
<li>Final TELLOMAK Phase 2 data for lacutamab in Mycosis Fungoides</li>
<li>Two posters on IPH6501, Innate&#39;s second generation ANKET&reg;&nbsp;in B‑cell Non-Hodgkin&#39;s Lymphoma</li>
<li>AstraZeneca to present poster on updated results for monalizumab from Phase 2 stage III unresectable NSCLC trial</li>
<li>Monalizumab SCLC Phase 2 MOZART trial poster</li>
</ul>
</li>
<li>Cash position of &euro;113.9 million1&nbsp;as of March 31, 2024 (not including the &euro;4.0 million payment to be received from Sanofi), anticipated cash runway into end 2025</li>
</ul>

IPHA

Innate Pharma Reported Q1 Revenue Of €6.6M Down From €26M YoY; Cash Position Of €113.9M

The global supply of high-performance memory chips is expected to remain constrained throughout 2024, driven by the soaring demand for artificial intelligence technology.
What Happened: The supply of high-end memory chips is projected to remain tight due to the exponential demand for AI technology, as per a CNBC <a href="https://www.cnbc.com/2024/05/14/ai-boom-to-keep-supply-of-high-end-memory-chips-tight-through-2024.html">report</a> on Tuesday. This is likely to affect the supply of these chips for the rest of 2024 and well into 2025.
Leading memory chip suppliers, including SK Hynix and Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), are already facing a shortage of high-bandwidth memory chips for 2024, with the stock for 2025 also nearly depleted.
″We expect the general memory supply to remain tight throughout 2024," Kazunori Ito, director of equity research at Morningstar said in a report.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38777196/amid-nvidia-craze-jim-cramer-sees-a-chip-stock-not-on-anyones-radar-about-to-break-out-heres-wha?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Nvidia Craze, Jim Cramer Sees A Chip Stock &#8216;Not On Anyone&#8217;s Radar&#8217; About To Break Out: Here&#8217;s What He Said</a>
The demand for AI chipsets has significantly boosted the high-end memory chip market, benefiting major players such as Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and SK Hynix, the top two memory chipmakers globally.
"The manufacturing of these chips are more complex and ramping up production has been difficult. This likely sets up shortages through the rest of 2024 and through much of 2025," said William Bailey, director at Nasdaq IR Intelligence.
 Chip manufacturers are competing intensely to produce cutting-edge memory chips to capitalize on the AI surge.
In a recent press conference, SK Hynix announced its initiation of mass production for the latest HBM chips, the 12-layer HBM3E, starting in the third quarter. Samsung Electronics, on the other hand, plans to commence mass production in the second quarter, having already shipped samples of this advanced chip, marking an industry-first achievement.
"Currently Samsung is ahead in 12-layer HBM3E sampling process. If they can get qualification earlier than its peers, I assume it can get majority shares in end-2024 and 2025," said SK Kim, executive director and analyst at Daiwa Securities.
Why It Matters: The global race to control chip supply is intensifying, with China recently <a href="https://www.benzinga.com/markets/asia/24/05/38800273/chinas-semiconductor-spending-tops-us-with-142b-commitment-global-chip-race-heats-up">overtaking the U.S.</a> in semiconductor spending. This has become a key focus for Western governments in their efforts to compete with China in the industry.
Additionally, the U.S. and China are set to discuss the potential risks of advanced AI in <a href="https://www.benzinga.com/news/24/05/38783544/us-china-to-discuss-ai-risks-in-geneva-will-washingtons-policies-be-up-for-negotiation">upcoming talks in Geneva</a>. The talks will explore ways to mitigate the potential dangers of this emerging technology, which is driving the demand for high-end memory chips.
Meanwhile, NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expected to continue delivering <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38798378/hsbc-analyst-sees-nvidia-stock-climbing-another-50-on-strong-pricing-power-ai-roadm">strong pricing power</a> and upside surprises through fiscal-year 2026, according to HSBC Global Research. This is likely to further fuel the demand for high-end memory chips.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K Level If It Reclaims This Crucial Support</a>
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Global

NVDA

SSNLF

High-Performance Memory Chip Supply To Stay Tight In 2024 Amid Surging AI Demand, Major Manufacturers Face Shortages

Guidance

Sony Group Corporation American Depositary Shares

SONY

Sony Group Provides Fiscal 2024 Outlook: Expects Sales Of ¥12.31T ($84.89B); Operating Margin Of 10.4%, And Adjusted EBITDA Of ¥1.93T ($13.31B)

Macro Economic Events

Econ #s

Economics

INDA

India Wholesale Price Index (WPI) Inflation (YoY) For April 1.26% Vs. 1.00% Est.; 0.53% Prior

Over two dozen companies have reportedly filed over 70 liens against sites developed by billionaire entrepreneur&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" rel="noreferrer noopener">&#8216;s&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" rel="noreferrer noopener">SpaceX</a>&nbsp;and its contractors since 2019 due to unpaid bills.&nbsp;
What Happened:&nbsp;According to Reuters, several construction companies filed liens against SpaceX properties after they failed to receive payment for their services.&nbsp;
Since 2019, more than two dozen companies have reportedly lodged 72 liens against sites developed by SpaceX and its contractors, seeking payments totaling over $2.5 million. 
It remains unclear whether these outstanding amounts&nbsp;are owed&nbsp;by SpaceX&nbsp;itself or any of its commissioned contractors.&nbsp;
Among&nbsp;these businesses, some&nbsp;have expressed reluctance to engage in future&nbsp;SpaceX-related projects.&nbsp;Hydroz Energy Services LLC, an excavating&nbsp;business, is owed just $19,214 by SpaceX, a modest sum compared to the rocket manufacturer&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36249896/spacex-worth-180-billion-now-musk-owned-companys-value-tops-boeing-lockheed-martin-disney-verizon-ib" rel="noreferrer noopener">valuation of $180 billion</a>&nbsp;as of a tender offer in December.&nbsp;
Of the 72 liens, at least 41&nbsp;were filed&nbsp;this year, and some have&nbsp;been resolved.&nbsp;Martin Marietta Materials Inc., a construction supply giant based in North Carolina, received $557,611 it claimed in March 2023, two months after filing its lien.&nbsp;
However, many liens remain unresolved, including one filed by Texas-based materials supplier CMC Construction Services for an outstanding bill of $129,592.&nbsp;
Why It Matters: Musk, currently the third richest person globally according to Forbes&#8217; real-time billionaires list, faces increasing scrutiny due to these financial issues.&nbsp;
After he acquired Twitter, now X, in 2022, Musk encountered a barrage of lawsuits from contractors alleging unpaid bills.&nbsp;Additionally,&nbsp;as the CEO of publicly-listed EV giant&nbsp;Tesla Inc., with a market cap of $548.19 billion as of the latest close, Musk&#8217;s financial responsibilities extend beyond SpaceX.
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/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" target="_blank" rel="noreferrer noopener">SpaceX Starship Likely To Fly For 4th Time Next Month As Elon Musk Reaffirms New Goals</a>
Photo by Angga Budhiyanto on Shutterstock

SPACE

Elon Musk's SpaceX Reportedly Leaves Trail Of Unpaid Bills Worth At Least $2.5M Amid Texas Expansion

Patients using Novo Nordisk&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NONOF#OTC">NONOF</a>) obesity treatment, Wegovy, have reportedly maintained an average weight loss of 10% over a four-year period, as per data revealed by the company on Tuesday. This information was shared at the European Congress on Obesity in Venice, Italy.
What Happened: The data, derived from a large-scale study, most of which was published last year, could potentially bolster Novo&#8217;s case for Wegovy as it attempts to convince insurers and governments to cover the cost of the drug, countering the perception of it being merely a lifestyle drug, Reuters reported.
&#8220;This is the longest study we&#8217;ve conducted so far of semaglutide for weight loss,&#8221; stated Martin Holst Lange, Novo&#8217;s head of development. 
See Also: <a href="https://www.benzinga.com/general/health-care/24/05/38763450/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
The trial involved 17,604 patients and tested Wegovy not for weight loss, but for its heart protective benefits for overweight and obese patients with preexisting heart disease but not diabetes. Participants were not required to track diet and exercise as it was not an obesity study.
Why It Matters: Despite s<a href="https://www.benzinga.com/markets/equities/24/05/38575293/demand-soars-for-novo-nordisks-weight-loss-drug-wegovy-despite-supply-constraints-and-eli-lilly-">upply constraints and competition</a> from Eli Lilly, the demand for Wegovy has been on the rise. The drug&#8217;s sales more than doubled to 9.38 billion kroner ($1.35 billion) in the first quarter, although this figure fell short of analysts&#8217; estimates due to pricing pressure.
Tesla CEO <a href="https://www.benzinga.com/news/24/05/38634420/ozempic-ftw-elon-musk-touts-novo-nordisks-blockbuster-drug-as-solution-to-childhood-obesity-problem">Elon Musk recently endorsed</a> Novo Nordisk&#8217;s Ozempic, a GLP-1 agonist primarily prescribed to manage Type 2 diabetes, and <a href="https://www.benzinga.com/news/24/05/38634420/ozempic-ftw-elon-musk-touts-novo-nordisks-blockbuster-drug-as-solution-to-childhood-obesity-problem">sparked a conversation </a>about childhood obesity and potential solutions.
On the other hand, Denmark&#8217;s healthcare authority has decided to <a href="https://www.benzinga.com/general/biotech/24/05/38554472/setback-for-novo-nordisk-denmark-shifts-prescription-guidelines-favoring-cost-effective-alternati">favor less expensive drugs for type 2 diabetes patients</a>, impacting the prescription of costlier GLP-1 drugs such as Novo Nordisk&#8217;s Ozempic. This decision is expected to affect nearly half of all current GLP-1 drug users, who may switch to cheaper alternatives.
Price Action: On Monday, Novo Nordisk closed 3.09% higher on NYSE at $132.39, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/government/24/05/38782353/barbarism-aoc-unleashes-fury-on-us-healthcare-system-as-people-are-choosing-between-medicine-and-ren?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Barbarism:&#8217; AOC Unleashes Fury On US Healthcare System As People Are &#8216;Choosing Between Medicine And Rent&#8217;</a>
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Biotech

Health Care

NONOF

Novo Nordisk's Wegovy Delivers: Long-Term Study Shows Sustained Weight Loss As Drugmaker Tries To Woo Insurers And Governments

Sony Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) reported quarterly earnings of $1.03 per share which beat the analyst consensus estimate of $0.79 by 31.01 percent. This is a 54.48 percent increase over earnings of $0.67 per share from the same period last year. The company reported quarterly sales of $23.46 billion which beat the analyst consensus estimate of $19.20 billion by 22.18 percent. This is a 56.20 percent increase over sales of $15.02 billion the same period last year.

Sony Group Q4 EPS $1.03 Beats $0.79 Estimate, Sales $23.46B Beat $19.20B Estimate

Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely to experience a significant decline in its stock value, according to a prominent investor. The investor&#8217;s prediction is based on the company&#8217;s recent developments and its future prospects.
What Happened: Danny Moses, a well-known investor and a long-time critic of Tesla, has forecasted a substantial drop in the company&#8217;s stock price, <a href="https://www.cnbc.com/2024/05/12/big-short-trader-danny-moses-warns-tesla-is-vulnerable-to-70percent-drop.html">reported</a> CNBC&#8217;s &#8220;Fast Money.&#8221;&nbsp;
Moses, who is known for his role in the &#8220;Big Short,&#8221; expects Tesla&#8217;s stock to plummet by 70% to $50 from its current $171.
"Everything is kind of falling apart in their core business. He's pointing everybody to robotaxis and AI and autonomy. It's really become a ‘show me' story in terms of if it's an auto company, and I think people are going to start to lose patience over time here for what the company is going to be,&#8221; Moses said. 
Moses attributes this anticipated decline to the company&#8217;s robotaxi and artificial intelligence initiatives, which he believes are masking fundamental business issues. He also points to the distractions caused by CEO Elon Musk&#8217;s focus on these technologies, despite mounting challenges in the company&#8217;s core operations.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/36913413/why-do-americans-still-buy-non-legal-weed-illicit-cannabis-sales-3-times-higher-than-legal-marij?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Do Americans Still Buy Non-Legal Weed? Illicit Cannabis Sales 3 Times Higher Than Legal Marijuana Sal</a>
Despite a brief stock price increase following Musk&#8217;s reaffirmation of the robotaxi and AI plans during the first quarter earnings call, Moses remains skeptical. He believes that these announcements are diverting attention from the company&#8217;s underlying problems.
The company is also under investigation by the Department of Justice for potentially misleading consumers and investors about the self-driving capabilities of its vehicles.
Moses, while maintaining Tesla as his main short position, praised another autonomous driving company named Wayve. This firm had recently secured $1 billion in funding from notable investors like Nvidia and Bill Gates.
Why It Matters: Tesla&#8217;s stock has been under scrutiny for various reasons. The company is facing challenges in the uptake of its Full Self-Driving technology, with <a href="https://www.benzinga.com/markets/equities/24/05/38805961/elon-musks-tesla-faces-fsd-uptake-challenge-as-only-2-of-free-trial-users-subscribe-gary-black-t">only 2% of free trial users</a> opting for the subscription, raising concerns about the future of the technology.
Additionally, Tesla has been experiencing significant <a href="https://www.benzinga.com/markets/equities/24/05/38796493/teslas-fire-hire-musk-brings-back-some-laid-off-supercharger-team-employees">changes in its workforce</a>, with reports of laid-off Supercharger team members being rehired.
Despite these challenges, the company is making significant strides in <a href="https://www.benzinga.com/markets/asia/24/05/38782261/china-greenlights-another-big-tesla-factory-this-time-for-megapack-project">its global expansion</a>, with China recently approving a new megafactory project, and its Cybertrucks gaining traction in the used car market. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K Level If It Reclaims This Crucial Support</a>
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Analyst Ratings

TSLA

'Big Short' Fame Investor Expects Elon Musk's Tesla Shares To Plunge 70%: 'People Are Going To Start To Lose Patience'

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) to report quarterly earnings at $3.60 per share on revenue of $36.68 billion before the opening bell, according to data from Benzinga Pro. Home Depot shares rose 0.6% to $342.90 in after-hours trading.</li>
<li>Paysafe Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>) posted better-than-expected results for its first quarter on Monday. Paysafe shares jumped 13% to $17.70 in the after-hours trading session.</li>
<li>Analysts are expecting Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to post quarterly earnings at $1.41 per share on revenue of $30.40 billion. The company will release earnings brefore the markets open. Alibaba shares fell 0.9% to $83.85 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) reported downbeat results for its first quarter on Monday. The Bitcoin mining company reported quarterly losses of 3 cents per share which missed the analyst consensus estimate of earnings of 4 cents per share. Quarterly revenue came in at $42.433 million, missing the analyst consensus estimate of $51.092 million. TeraWulf shares tumbled 11.2% to $1.9897 in the after-hours trading session.</li>
<li>Analysts expect International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) to post quarterly earnings at 23 cents per share on revenue of $1.03 billion before the opening bell. International Game Technology shares rose 1.9% to $20.40 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38789146/jim-cramer-likes-micron-and-its-ceo-recommends-buying-this-big-bank">Jim Cramer Likes Micron And Its CEO, Recommends Buying This Big Bank</a>

Pre-Market Outlook

BABA

PSFE

WULF

Home Depot, Paysafe And 3 Stocks To Watch Heading Into Tuesday

The CNN Money Fear and Greed index showed some improvement in overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index snapping an eight-session winning streak.
U.S. major indices recorded gains last week, with the Dow gaining 2.16% to record its fourth positive week in a row. The S&amp;P 500 gained 1.85%, gaining for the third straight week.
Data on consumer price index will be released on Wednesday, with economists projecting an increase of 0.4% month-over-month in April. The producer price index is scheduled for release on Tuesday.
GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares jumped over 74% on Monday amid possible retail investor interest following a social media post by Roaring Kitty. Shares of Seritage Growth Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRG#NYSE">SRG</a>) dipped more than 27% after the company reported first-quarter financial results and said it is negotiating an agreement for the sale of four assets for gross proceeds of $79.1 million.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, industrials and financial stocks recording the biggest losses on Monday. However, information technology and real estate stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 81 points to 39,431.51 on Monday. The S&amp;P 500 fell 0.02% at 5,221.42, while the Nasdaq Composite gained 0.29% at 16,388.24 during Monday's session.
Investors are awaiting earnings results from International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>), Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), and The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) today.
At a current reading of 49.8, the index remained in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 47.5.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38789146/jim-cramer-likes-micron-and-its-ceo-recommends-buying-this-big-bank">Jim Cramer Likes Micron And Its CEO, Recommends Buying This Big Bank</a>

Investor Optimism Improves, But Dow Snaps 8-Session Winning Streak

Germany Consumer Price Index (MoM) For April 0.5% Vs. 0.5% Est.; 0.4% Prior

Germany Consumer Price Index (YoY) For April 2.2% Vs. 2.2% Est.; 2.2% Prior

U.K. Unemployment Rate For March 4.3% Vs. 4.3% Est.; 4.2% Prior

U.K. Employment Change 3M/3M (MoM) For March -177K Vs. -215K Est.; -156K Prior

U.K. Claimant Count Change For April 8.9K Vs. 13.9K Est.; -2.4K (Revised) Prior

U.K. Average Earnings Index +Bonus For March 5.7% Vs. 5.3% Est.; 5.7% (Revised) Prior

Video sharing platform, Rumble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) has initiated legal proceedings against tech giant, Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), accusing it of monopolistic practices in its digital advertising products. Rumble is seeking damages in excess of $1 billion.
What Happened: Rumble, the <a href="https://www.benzinga.com/general/social-media/24/02/36896510/truth-social-testing-video-streaming-could-trumps-company-hurt-its-partner-rumble">technology and advertising partner</a> for Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), alleges Google has monopolized the ad stack by acquiring companies across the chain, Reuters reported on Tuesday. The lawsuit asserts that Google represents both ad buyers and sellers while also controlling the exchange connecting these parties.
Rumble adds that Google has preserved its monopoly by striking a deal with Meta&#8217;s Facebook to prevent it from offering alternatives to Google&#8217;s ad tech ecosystem. Google has denied these allegations, terming them as &#8220;simply wrong&#8221; and asserting that Rumble uses &#8220;dozens&#8221; of competing ad services along with Google&#8217;s ad manager.
The lawsuit was lodged late Monday in the U.S. District Court for the Northern District of California. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K L</a>
The U.S. Justice Department also filed a lawsuit against Google last year, alleging abuse of dominance in the digital advertising business and suggesting that Google should be forced to sell its ad manager suite.
Why It Matters: This isn&#8217;t the first time Google has faced legal action over its advertising practices. In February, Google was hit with a <a href="https://www.benzinga.com/news/24/02/37393818/google-faces-2-3b-lawsuit-from-european-media-over-ad-practices">$2.3 billion lawsuit from 32 media groups</a>, including Axel Springer and Schibsted, accusing the tech giant of causing financial losses through its digital advertising practices.
Previously, in January 2021, Rumble sued Google for <a href="https://www.benzinga.com/news/21/01/19115584/youtube-rival-rumble-sues-google-over-alleged-search-ranking-bias-wsj">allegedly rigging its search algorithm</a>s to prioritize YouTube over Rumble in its search results. Rumble also claimed that Google&#8217;s deal to pre-install YouTube on Android devices has unfairly deprived Rumble of viewers.
In June, Rumble announced its intentions to sue Google following a <a href="https://www.benzinga.com/general/entertainment/23/06/32886915/andrew-tates-stream-sparks-rumbles-legal-fight-against-googles-youtube-bias">high-profile live stream by Andrew and Tristan Tate</a>, titled &#8220;Emergency Meeting,&#8221; broadcasted on Rumble. Despite drawing an audience of 500,000 live viewers, a Google search for Tate&#8217;s streaming event led users to a YouTube video, rather than the original Rumble broadcast, sparking accusations of anti-competitive behavior favoring Google-owned YouTube.
Price Action: On Monday, GOOGL closed 0.29% higher at $169.14 while GOOG closed 0.36% higher at $170.90. On the other hand, RUM closed 3.10% higher at $6.980, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38781510/redditors-predict-economic-doom-brace-for-us-collapse-only-time-will-tell-how-bad-it-will-truly-get?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Redditors Predict Economic Doom, Brace For US Collapse: &#8216;Only Time Will Tell How Bad It Will Truly Get&#8217;</a>
Photo: Courtesy Jonny Gios via Unsplash
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Social Media

GOOG

GOOGL

Trump Media Firm's Tech-Ad Partner Rumble Sues Google For $1B Over Alleged Ad Monopoly

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Due to the fact that the stock market is in a constant state of flux, high-reward <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> often surface as hidden gems, luring purchasers with the promise of substantial rewards. Investing in such companies carries some risk but is a good way for smart investors to get rich.



The second thing that makes these stocks interesting is that they are both cheap as well as highly-charged that move from unknown to popular very fast. When we begin to investigate the realm of high-potential penny stocks, it is essential to maintain a balance. It is important to exercise both excitement and caution when investing in the world of high-potential penny stocks. 



This road is not for those who are easily discouraged; you need to have a keen eye to see opportunities when others fail to recognize them. These companies have the potential to transform your portfolio dramatically. That is, if you research, invest at the right time, and accept risks. It is clear from this that even the tiniest businesses can have a significant impact on the market. Let&rsquo;s get this journey started by locating penny stocks that have a great deal of promise and provide growth that is beyond comprehension.



<h2>8&times;8 (EGHT)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/cloud1600c-300x169.jpg" alt="image of a cloud surrounded by various symbols related to internet connectivity and interaction"><div>Source: Shutterstock</div></div>


In the fast-paced cloud messaging market, 8&times;8 (NASDAQ:<a href="https://investorplace.com/stock-quotes/eght-stock-quote/">EGHT</a>) comes out as a stock with a lot of room to grow. Samuel Wilson has been named CEO of the company, which is a sign of security and continuity. Wilson really understands how 8&times;8 works and what its long-term goals are, which means the company can grow very quickly. It is expected that the company will be able to handle the next part of growth with his help, especially when it comes to making its XCaaS goods better.



As another example, 8&times;8&rsquo;s <a href="https://www.uctoday.com/unified-communications/breaking-8x8-to-acquire-fuze/">planned purchase of Fuze for $250 million</a> shows that the company wants to be the leader in cloud messaging. This business choice not only broadens 8&times;8&rsquo;s product line, but it also makes the company more visible around the world, especially in Europe. Because 8&times;8 now has access to Fuze&rsquo;s huge business client base, they can take advantage of profitable cross-sell opportunities. This gives them a bigger market to reach.



Some people think that <a href="https://www.uctoday.com/unified-communications/ringcentral-approaches-8x8-about-a-take-over/">RingCentral might take over</a>, which adds an interesting layer to the story of 8&times;8. Even though these kinds of talks are still just ideas, they show that 8&times;8 is an important part of the business. Potential attention from a big company like RingCentral shows how important 8&times;8 is from a strategic point of view and how it can help the cloud communications market grow through its potential.



<h2>Zomedica (ZOM)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/zom-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website for Zomedica (ZOM)."><div>Source: Postmodern Studio / Shutterstock.com</div></div>


Zomedica (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/zom-stock-quote/">ZOM</a>) is one of the most promising penny stocks in the animal health field. It made $6.3 million in sales in the third quarter. Over the past year, this was a 30% rise. This performance shows how much people want its new goods.



Zomedica&rsquo;s profit margin also went up to 69%. This increase shows that it is now more profitable. The company is financially strong because it has $118 million in cash on hand. This makes sure that it can go after more growth opportunities.



Zomedica thinks that its sales <a href="https://www.stocktitan.net/news/ZOM/zomedica-announces-preliminary-2023-revenue-provides-revenue-7uk6zgu0qwc9.html">will be more than $25 million</a> in 2023. It would be 30% more than the year before. It hopes to make between $31 million and $35 million in 2024. Such goals show that it is sure it will continue to be successful.



In Zomedica&rsquo;s business plans, there are also possible partnerships and purchases. The goal is to make it more visible in the animal health field. It&rsquo;s also possible <a href="https://finance.yahoo.com/news/zomedica-announces-preliminary-2023-revenue-210000213.html">for the company to split 80-1</a>. This move is meant to make the stock market more appealing and legal.



All things considered, Zomedica&rsquo;s path points to big growth. It stands out because it focuses on smart growth and new products. As an investor, it looks like a great chance to make money with tiny stocks.



<h2>Castor Maritime (CTRM)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/02/ctrm-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website for Castor Maritime (CTRM)."><div>Source: Pavel Kapysh / Shutterstock.com</div></div>


In the competitive world of high-potential penny stocks, Castor Maritime (NASDAQ:<a href="https://investorplace.com/stock-quotes/ctrm-stock-quote/">CTRM</a>) is making significant waves. The company reported GAAP EPS of 11 cents and revenue of $26.4 million which suggests solid performance in a hard environment.



Castor Maritime has also been enhancing its asset portfolio. The company recently <a href="https://www.globenewswire.com/news-release/2024/01/29/2818967/0/en/Castor-Maritime-Inc-Announces-the-Sales-of-the-M-V-Magic-Nova-and-the-M-V-Magic-Horizon-for-an-Aggregate-Price-of-31-9-Million-with-an-Aggregate-Expected-Net-Gain-of-9-0-Million.html">sold the M/V Magic Nova and M/V Magic Horizon</a> for a total of $31.9 million. These sales strengthen the balance sheet and sharpen the company&rsquo;s operational focus.



Also, Castor Maritime received <a href="https://finance.yahoo.com/news/castor-maritime-inc-receives-180-130000957.html">an essential 180-day extension</a> from Nasdaq. Thus, it has until April 15th, 2024, to meet the minimum bid price requirement.&nbsp;Due to these regulatory problems, the stock is down 18.75% over the last month.



Castor Maritime&rsquo;s penny stock performance is encouraging. Strategic asset management and financial stability give smart investors hope. For high-potential investors, the company&rsquo;s market flexibility is appealing. After regaining Nasdaq compliance, Castor marine&rsquo;s stock value might rise, rewarding shareholders with its strong marine sector position and development prospects. The predicted stock value gain shows the potential advantages of investing in Castor Maritime, given its regulatory compliance.



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 publication date, Faizan Farooque did not hold (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>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/02/3-high-reward-penny-stocks-to-uncover-big-gains/">3 High-Reward Penny Stocks to Uncover Big Gains</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 High-Reward Penny Stocks to Uncover Big Gains

Castor Maritime announces 1-for-10 reverse stock split

Castor Maritime (CTRM) has released an update. Castor Maritime Inc. has announced a 1-for-10 reverse stock split effective March 27, 2024, aimed at...

Castor Maritime Executes Reverse Stock Split

Castor Maritime Inc (CTRM) stock is lower by 16.87% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator. Castor Maritime Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on CTRM!See Full CTRM ReportWhat is Stock Sentiment?Sentiment is

Is Castor Maritime Inc (CTRM) Stock About to Get Hot Thursday?

Castor Maritime (CTRM) has released an update. Castor Maritime Inc. has announced a one-for-ten reverse stock split effective 9:00 a.m. ET on March...

Castor Maritime Announces Reverse Stock Split

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
When the stock market pushes too high too fast, sudden corrections can reveal several<a href="https://mywallst.com/blog/how-to-spot-an-oversold-stock/"> oversold stocks</a> for a short-term surge. Reasons for large dips include simple differences of opinion on a company&rsquo;s prospects, short-term holders exiting positions with long-term potential, or negative events that temporarily spook fair-weather investors. Margin calls against large shareholders or disproportionate media coverage can also trigger selloffs. Indicators measuring momentum, like the Relative Strength Index (RSI), can effectively<a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI"> identify oversold stocks</a> ripe for a short-term surge by signaling excessive selling pressure. Readings below 30 generally indicate that oversold stocks have fallen too far and may rise for a short-term surge.



Not every oversold stock represents a bounce-back bargain, as company-specific issues may still warrant caution. The key is to effectively separate diamonds in the rough &mdash; oversold stocks suffering an overreaction but retaining strong fundamentals and upside &mdash; from those with legitimate long-term concerns. Comparing a stock&rsquo;s price-to-earnings (P/E) ratio against industry peers may help<a href="https://www.schwab.com/learn/story/stock-analysis-using-pe-ratio"> identify undervaluation</a>. Ratios at levels below sector medians suggest that the market has underappreciated a name&rsquo;s earnings power, and the stock may be ripe for a short-term surge.



Combining oversold RSI and undervalued P/E readings may flag oversold stocks for a short-term surge as valuations mean-revert following sudden selloffs. Investors may capitalize on such dislocations by buying bounce-back bargains at temporarily discounted prices.



<h2>Hanover Bancorp (HNVR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/banks1600-300x169.jpg" alt="Image of a grey cityscape with a large corporate building that features the word bank on it"><div>Source: Shutterstock</div></div>Hanover Bancorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/hnvr-stock-quote/">HNVR</a>), a small regional bank based in New York, is one of the oversold stocks for short-term surge. Regional banks have fallen out of favor since last year&rsquo;s market downturn and recent<a href="https://www.investopedia.com/sp-downgrades-outlook-of-five-us-regional-banks-with-heavy-commercial-real-estate-exposure-8621005"> worries over exposure</a> to commercial real estate. However, Hanover Bancorp may present an opportunity to buy in ahead of it bouncing back. Its most recent report shows loans backed by office space make up a modest 2.4% of its total loan portfolio. In fact, the company has seen<a href="https://finance.yahoo.com/news/hanover-bancorp-inc-reports-earnings-211500402.html"> growth in niche areas</a> like residential and SBA loans. Currently, Hanover Bancorp&rsquo;s RSI sits at 12.2,<a href="https://finance.yahoo.com/quote/HNVR?.tsrc=fin-srch"> well into oversold</a> territory. Additionally, its P/E ratio of 8.1x appears<a href="https://simplywall.st/markets/us/financials/banks"> undervalued</a> compared to the average of 12.1x for U.S. banks overall. While regional banks face headwinds, oversold stocks like HNVR provide a unique opportunity for investors if the potential for a bounce-back if sentiment improves.&#8203;



<h2>Sirius XM Holdings (SIRI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/sirius_xm_siri1600-300x169.jpg" alt="The Sirius XM (SIRI) mobile app logo on a smartphone screen."><div>Source: Shutterstock</div></div>Sirius XM Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/siri-stock-quote/">SIRI</a>) represents another opportunity for investors looking to capitalize on oversold stocks for a short-term surge higher. The satellite radio provider has lost favor with investors lately, with shares trading lower since last October. However, one prominent investor sees its current levels as a buying opportunity. Warren Buffett recently purchased an additional<a href="https://www.thestreet.com/memestocks/others/this-stock-is-heavily-shorted-so-why-is-warren-buffetts-berkshire-hathaway-snapping-up-shares-"> $167 million in shares</a> to take advantage of an<a href="https://www.libertymedia.com/investors/news-events/press-releases/detail/522/liberty-media-and-siriusxm-announce-transaction-to-simplify"> upcoming merger</a> between Liberty Media&rsquo;s Liberty SiriusXM tracking and SiriusXM. SIRI&rsquo;s<a href="https://www.gurufocus.com/term/rsi_14/SIRI/14-Day-RSI/SIRI"> RSI sits at 21.6</a>, below the oversold threshold of 30, while offering a<a href="https://finance.yahoo.com/quote/SIRI?.tsrc=fin-srch"> P/E ratio of just 12.1x</a>. This remains<a href="https://fullratio.com/pe-ratio-by-industry"> under the average</a> of 18.2x for U.S. media and entertainment broadcasters. With the stock oversold and trading at a discount to its peers, short-term traders may find an attractive risk-reward for a short-term surge in SIRI as it mean-reverts toward its median.



<h2>Castor Maritime (CTRM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/02/ctrm-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website for Castor Maritime (CTRM)."><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Despite facing headwinds, dry bulk shipping company Castor Maritime (NASDAQ:<a href="https://investorplace.com/stock-quotes/ctrm-stock-quote/">CTRM</a>) trades at an attractively low valuation that points to another chance to cash in on an oversold position. The company recently reported slowing revenues amid challenging market conditions where geopolitical uncertainty has disrupted global shipping. However, Castor managed to grow its total cash position during this challenging period while carrying<a href="https://finance.yahoo.com/news/castor-maritime-inc-reports-net-140000435.html"> no debt on its balance sheet</a>. Additionally, management finalized a reverse stock split at the end of the month in an effort to<a href="https://finance.yahoo.com/news/castor-maritime-inc-announces-reverse-200500601.html"> boost its share price</a>. While navigating industry-wide difficulties, Castor stands out as a singularly oversold stock as it carries a P/E ratio of just 3.4x. This is<a href="https://finance.yahoo.com/quote/CTRM?.tsrc=fin-srch"> significantly below</a> the average of 77.8x in the dry bulk shipping sector. This substantial discount suggests the market has <a href="https://simplywall.st/markets/us/industrials/marine-shipping">oversold</a> CTRM. Patient investors looking to capitalize on oversold conditions may find an opportunity in this name, as the company remains well-positioned if market volatility subsides and shipping demand rebounds in the quarters ahead.&#8203;



On the date of publication, Stavros Tousios did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Stavros Tousios, MBA, is the founder and chief analyst at Markets Untold. With expertise in FX, macros, equity analysis, and investment advisory, Stavros delivers investors strategic guidance and valuable insights.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/three-oversold-stocks-ripe-for-a-short-term-surge/">Bounce-Back Bargains: 3 Oversold Stocks Ripe for a Short-Term Surge</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Bounce-Back Bargains: 3 Oversold Stocks Ripe for a Short-Term Surge

One of Eagle Bulk Shipping's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGLE#NYSE">EGLE</a>) more-than-10% owners,&nbsp;Castor Maritime Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRM#NASDAQ">CTRM</a>), revealed a huge purchase of the company's s...

Insider Trading: Eagle Bulk (NYSE:EGLE) Insider Purchases Shares Worth $11M

Castor Maritime regains compliance with Nasdaq's listing rule

Castor Maritime (CTRM) has released an update. Castor Maritime Inc., a global shipping company, has regained compliance with the Nasdaq's minimum b...

Castor Maritime Regains Nasdaq Listing Compliance

Castor Maritime (CTRM) has released an update. Castor Maritime Inc., a diversified global shipping company, has launched a tender offer to repurcha...

Castor Maritime Launches Warrant Tender Offer

EGHT

EGLE

HNVR

SBLK

SIRI

Contracts

Press Releases

Castor Maritime Inc. Announces the Sales of the M/V Magic Nova and the M/V Magic Horizon for an Aggregate Price of $31.9 Million with an Aggregate Expected Net Gain of $9.0 Million

Castor Maritime Inc. Reports Net Income of $25.0 Million for the Three Months Ended December 31, 2023 and Net Income of $38.6 Million for the Year Ended December 31, 2023

Castor Maritime Inc. Announces the Sale of the M/V Magic Nebula for a Price of $16.2 Million with an Expected Net Gain of $2.5 Million

Castor Maritime Inc. Announces Availability of its 2023 Annual Report on Form 20-F

Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Nova

Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Orion

Castor Maritime Inc. Announces Reverse Stock Split to be Effective March 27, 2024

Castor Maritime Inc. Announces Compliance with Nasdaq Minimum Bid Price Requirement

Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Nebula

Castor Maritime Inc. Announces Tender Offer to Purchase its Outstanding Common Share Purchase Warrants Issued on April 7, 2021

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Caravelle Intl Gr

Costamare Inc. Common Stock $0.0001 par value

Costamare

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Capital Product Partners

Danaos

Diana Shipping

EuroDry

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Globus Maritime

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)

Genco Shipping & Trading

Golden Ocean Group Limited - Common Stock

Golden Ocean Group

Grindrod Shipping Holdings Ltd. - Ordinary Shares

Grindrod Shipping Hldgs

Global Ship Lease Inc New Class A Common Shares

Global Ship Lease

Himalaya Shipping

Kirby

Matson

Navios Maritime Partners LP Common Units Representing Limited Partner Interests

Navios Maritime Partners

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Pangaea Logistics Solns

Performance Shipping Inc. - Common Shares

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Pyxis Tankers

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Seanergy Maritime Holdings Corp. - Common Stock

Seanergy Maritime Hldgs

Toro

United Maritime Corporation - Common Stock

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ZIM Integrated Shipping Services Ltd. Ordinary Shares