Short interest for DiDi Global gives investors a sense of the degree to which investors are betting on the decline of DiDi Global's stock. Short interest data is updated every two weeks.

DiDi Global Stock (OTC:DIDIY), Short Interest Report

DiDi Global Inc is a mobility technology platform that provides a range of mobility services as well as other services. It is building four key components of its platform that work together to improve the consumer experience: shared mobility; energy and vehicle services; electric mobility; and autonomous driving. It is a go-to brand in China for shared mobility, providing consumers with a range of safe, affordable, and convenient mobility services, including ride-hailing, taxi-hailing, chauffeur, hitch, and other forms of shared mobility. The company operates in three segments: China Mobility, which mainly includes ride-hailing services to riders, and also acts as an agent by connecting end-users to service providers who provide taxi hailing; International; and Other Initiatives.

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Price Target

Reiteration

Analyst Ratings

Movers

Tech

Trading Ideas

CART

DASH

DIDI GLOBAL INC S/ADR by DiDi Global Inc.

DIDIY

LYFT

MILN

TSLA

UBER

Amid rising concerns about autonomous driving technologies, Morgan Stanley analyst Brian Nowak maintains an Overweight rating on Uber with a bullish $90 price target. Highlighting Uber&#39;s lower growth-adjusted multiple compared to competitors, Nowak underscores the potential for significant upside, driven by robust multi-product strategies and expanding market opportunities, especially in the face of competitors like Lyft and Maplebear.

Uber&#39;s Low Growth-Adjusted Multiple Creates An Attractive Entry Point: Morgan Stanley

Asia

Penny Stocks

Markets

BYDDF

BYDDY

KIMTF

PCRFY

XPEV

APPL

Amid all the hype over EVs, China’s largest producer of energy-efficient vehicles has been getting less love that some investors think it deserves.

Investors Think China&#39;s Number One EV Maker BYD Is About To Take Off

BABA

CTRYF

DSECF

SIOLY

SNCNQ

TCEHY

WARFF

Stocks in Hong Kong and China closed the week out lower Friday as weak consumer sentiment and property market jitters resurfaced.

The Hang Seng Index ended a three-day winning streak to end down 2.2% at 17,813.45 while China’s CSI 300 Index closed 1.1% lower at 3,663.41.

Sluggish Retail Growth In China &amp; More Headwinds For Hong Kong&#39;s Property Markets Drag Stocks Down

DiDi Global Inc

<a href="https://www.reuters.com/business/autos-transportation/stellantis-leapmotor-start-sales-budget-evs-nine-european-countries-september-2024-05-14/" title="https://www.reuters.com/business/autos-transportation/stellantis-leapmotor-start-sales-budget-evs-nine-european-countries-september-2024-05-14/">https://www.reuters.com/business/autos-transportation/stellantis-leapmotor-start-sales-budget-evs-nine-european-countries-september-2024-05-14/</a>

STLA

Reuters Reported Stellantis, Leapmotor To Start Sales Of Budget EVs In Nine European Countries In September

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 20 points on Tuesday.
Shares of TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) fell sharply in today's pre-market trading after the company reported downbeat results for its <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38802344/bitcoin-miner-terawulf-reports-worse-than-expected-q1-results">first quarter on Monday</a>.
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, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
TeraWulf shares tumbled 9.3% to $2.03 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) shares declined 9.3% to $15.10 in pre-market trading after the company reported first-quarter financial results.</li>
<li>TMC the metals company Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>) shares fell 8.6% to $1.39 in pre-market trading after the company reported first-quarter financial results.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares fell 6% to $4.56 in pre-market trading after surging 31% on Monday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) shares declined 4.7% to $3.43 in pre-market trading after surging 11% on Monday.</li>
<li>Cognyte Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) shares declined 4% to $7.37 in pre-market trading.</li>
<li>Ginkgo Bioworks Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNA#NYSE">DNA</a>) shares fell 3.5% to $0.8117 in pre-market trading. Ginkgo Bioworks received a notice of continued listing standard notice from the NYSE.</li>
<li>Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) shares declined 3.4% to $33.56 in pre-market trading. Maplebear, last week, posted first-quarter financial results.</li>
<li>Burford Capital Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUR#NYSE">BUR</a>) fell 3% to $14.07 in pre-market trading following a 6% decline on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38807214/investor-optimism-improves-but-dow-snaps-8-session-winning-streak">Investor Optimism Improves, But Dow Snaps 8-Session Winning Streak</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Pre-Market Outlook

CGNT

STNE

WULF

TeraWulf Posts Weak Results, Joins StoneCo And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Oppenheimer analyst Matthew Biegler maintains Fulcrum Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULC#NASDAQ">FULC</a>) with a Outperform and lowers the price target from $16 to $14.

FULC

Oppenheimer Maintains Outperform on Fulcrum Therapeutics, Lowers Price Target to $14

Evercore ISI Group analyst Cory Kasimov initiates coverage on Arcellx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACLX#NASDAQ">ACLX</a>) with a Outperform rating and announces Price Target of $85.

Initiation

ACLX

Evercore ISI Group Initiates Coverage On Arcellx with Outperform Rating, Announces Price Target of $85

Evercore ISI Group analyst Cory Kasimov initiates coverage on BridgeBio Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) with a Outperform rating and announces Price Target of $50.

BBIO

Evercore ISI Group Initiates Coverage On BridgeBio Pharma with Outperform Rating, Announces Price Target of $50

As pro-Trumpers called out <a href="https://www.benzinga.com/news/24/03/38013475/donald-trump-manhattan-da-alvin-bragg-clash-over-scope-of-gag-order-amid-ex-presidents-attacks-again">New York District Attorney Alvin Bragg, </a>who brought the criminal case against Donald Trump, alleging that he falsified his business record to conceal damaging information from the American voters before the 2016 election, Tesla CEO Elon Musk weighed in on the proceedings.
What Happened: Commenting on the ongoing hush-money case trial, Arizona Congressional candidate Blake Masters, a Republican and protege of entrepreneur and venture capitalist Peter Thiel, slammed Bragg in a post on X, formerly Twitter, on Monday. &#8220;It&#8217;s hard to put into words the staggering corruption of Alvin Bragg&#8217;s kangaroo court in New York City,&#8221; he said.
The lead prosecutor was a Democratic National Convention consultant and was number 3 at President Joe Biden's Department of Justice before being hired by Bragg, he said. The other lead prosecutor donated over $1,000 to Biden and ActBlue in 2020, he added.
Masters also noted that the Acting New York State Supreme Court Justice Juan Merchan donated to Biden and his daughter The judge is a left-wing activist who is using the trial to raise money for Democrats. &#8220;The lead witness is a convicted perjurer who is selling t-shirts of Trump in jail on TikTok,&#8221; he said.
&#8220;This whole thing is a joke and wouldn&#8217;t be happening if President Trump wasn&#8217;t leading in every swing state poll.&#8221;
Foundation For Freedom Online Executive Director Mike Benz concurred with Masters and said, &#8220;The judge is so financially conflicted he wouldn't even be allowed on the jury.&#8221; Referring to former Trump lawyer Michael Cohen, who testified on Monday, he said, &#8220;The star witness is a multi-crime convicted felon who in most states wouldn't even be allowed to vote.&#8221;
Musk chimed in and said, &#8220;The more unfair the attacks on Trump seem to the public, the higher he will rise in the polls.&#8221;
<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">The more unfair the attacks on Trump seem to the public, the higher he will rise in the polls
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1790119720504447417?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The results of a New York Times/Sienna poll published on Monday showed that <a href="https://www.benzinga.com/general/politics/24/05/38804590/trump-vs-biden-new-swing-state-poll-reveals-winner-one-key-2024-election-issue-could-influence-r">Trump was leading in five of the six key swing states.</a>
See Also: <a href="https://www.benzinga.com/best-penny-stocks">Best Penny Stocks</a>
In a separate post, Benz shared a screenshot of the results of the poll, which showed Trump led either by majority support or by the singularity of votes in all states but Michigan. &#8220;We&#8217;re gonna need more prosecutors,&#8221; he said, taking a swipe at Bragg and the team.
Musk quipped in and said, the betting odds, however, projected a &#8220;much tighter race.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The betting odds on a Trump victory currently show a much tighter race
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1790116956135153813?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Musk also reacted to a post by conservative media Babylon Bee, which said, &#8220;Latest Polls Show Biden Will Need Twice As Many Fake Ballots To Win Election This Year.&#8221;
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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/1790242234777968753?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It&#8217;s Important: Most nationwide opinion polls project a very close race between presumptive candidates from either side of the aisle. That said, voters are generally disgruntled with both candidates, potentially for different reasons.
A recent FT/Michigan Ross poll found that Biden has anemic approval ratings both for his handling of the economy and his handling of his job as president. Inflation was mentioned as a primary economic concern by most voters. Trump, on the other hand, is stymied by the four criminal cases pending against him. The consolation is that only the hush-money case could reach a verdict before the Nov. 5 election.
Musk has largely sided with the Republicans this election cycle. He and Biden share a fractious relationship, primarily due to the latter ignoring Tesla in his discussions about climate change and electric vehicles. Trump was rumored to have met with Musk in early March, reportedly to seek campaign funding. 
Read Next: <a href="https://www.benzinga.com/news/24/05/38791491/biden-vs-trump-incumbent-fails-to-win-voter-confidence-to-steer-economy-as-new-poll-identifies-infla">Biden Vs. Trump: Incumbent Fails To Win Voter Confidence To Steer Economy As New Poll Identifies Inflation As Major Pushback</a>
Photos courtesy: Shutterstock

Politics

Media

Elon Musk Says The More Unfair Attacks On Trump Seem 'The Higher He Will Rise In Polls' After GOP House Contender Slams Alvin Bragg's 'Kangaroo Court'

Evercore ISI Group analyst Cory Kasimov initiates coverage on Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Outperform rating and announces Price Target of $175.

NBIX

Evercore ISI Group Initiates Coverage On Neurocrine Biosciences with Outperform Rating, Announces Price Target of $175

Evercore ISI Group analyst Cory Kasimov initiates coverage on Moderna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) with a In-Line rating and announces Price Target of $120.

MRNA

Evercore ISI Group Initiates Coverage On Moderna with In-Line Rating, Announces Price Target of $120

Evercore ISI Group analyst Cory Kasimov initiates coverage on Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) with a Outperform rating and announces Price Target of $1150.

REGN

Evercore ISI Group Initiates Coverage On Regeneron Pharmaceuticals with Outperform Rating, Announces Price Target of $1150

Evercore ISI Group analyst Cory Kasimov initiates coverage on Biomarin Pharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) with a Outperform rating and announces Price Target of $113.

BMRN

Evercore ISI Group Initiates Coverage On Biomarin Pharmaceutical with Outperform Rating, Announces Price Target of $113

Evercore ISI Group analyst Cory Kasimov initiates coverage on BioNTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) with a In-Line rating and announces Price Target of $100.

BNTX

Evercore ISI Group Initiates Coverage On BioNTech with In-Line Rating, Announces Price Target of $100

SpaceX on Sunday confirmed that its satellites in orbit successfully survived the geometric storm over the weekend, despite company CEO Elon Musk warning that they are under &#8220;<a href="https://www.benzinga.com/news/24/05/38774843/elon-musk-says-spacex-satellites-impacted-by-ongoing-solar-storm-but-holding-up-so-far">a lot of pressure</a>&#8221; as of Saturday. 
What Happened: &#8220;All Starlink satellites on-orbit weathered the geomagnetic storm and remain healthy,&#8221; SpaceX informed via social media platform X. Through the weekend, Musk said that the satellites were under a lot of pressure but holding up. He also termed the storm a &#8220;major&#8221; one.
SpaceX has nearly 6,000 <a href="https://www.benzinga.com/news/24/04/38490438/challenge-accepted-spacex-ceo-elon-musk-agrees-to-make-falcon-boosters-support-42-missions-after-ret" target="_blank" rel="noreferrer noopener">Starlink satellites in orbit</a>, according to Astronomer Jonathan McDowell who tracks them.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">All <a href="https://twitter.com/Starlink?ref_src=twsrc%5Etfw">@Starlink</a> satellites on-orbit weathered the geomagnetic storm and remain healthy
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1789838269418471902?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The sun has produced moderate to strong solar flares since Wednesday. Solar material eruptions accompanying these flares, called coronal mass ejections (CMEs), cause geomagnetic storms when they reach Earth's surface and pose the risk of disrupting power and communications due to their impact on infrastructure in near-Earth orbit and Earth's surface. 
The National Oceanic and Atmospheric Administration (NOAA) had warned of a geomagnetic storm for Friday evening and said that storm conditions may last through the weekend.<a href="https://www.benzinga.com/news/24/05/38780951/northern-lights-visible-in-these-parts-of-the-us-on-sunday-night-after-rare-powerful-geomagnetic-sto"> Auroras lit the sky in different parts of the country </a>over the weekend from the storm.
The NOAA has issued one more geomagnetic storm watch for May 14, with chances of aurora becoming visible over some northern and upper Midwest states from New York to Idaho.
Check out more of Benzinga&#8217;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: <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>
Image via Shutterstock

SPACE

Did Solar Storm Zap Starlink Satellites? After Musk's Warning, Here's What Happened

Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) has decided to withdraw its controversial anti-celibacy advertisements following a wave of criticism.
What Happened: The dating app&#8217;s new ad campaign, launched in late April, featured billboards with messages like &#8220;A vow of celibacy is not the answer&#8221; and &#8220;Thou shalt not give up on dating and become a nun,&#8221; the company <a href="https://www.instagram.com/p/C67U1nyuZNI/?igsh=MW02andyeTZvY3piZw%3D%3D&amp;img_index=1">said</a> in an Instagram post. The company has been accused of undermining the freedom of choice for its users.
"Our ads referencing celibacy were an attempt to lean into a community frustrated by modern dating, and instead of bringing joy and humor, we unintentionally did the opposite," the company said
Bumble has promised to remove the ads and make a donation to the National Domestic Violence Hotline, as well as other organizations supporting women, marginalized communities, and abuse victims.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
Bumble, founded in 2014 by then-24-year-old Whitney Wolfe Herd, has been known for its unique approach to online dating. The company, which went public in February 2021, has seen a 22% drop in its stock price this year, closing at $11.51 on Monday.
Why It Matters: Bumble&#8217;s recent ad campaign is not the first time the company has faced criticism. In 2023, the company&#8217;s founder and CEO, Whitney Wolfe Herd, <a href="https://www.benzinga.com/news/23/11/35641406/heres-why-bumbles-founder-and-ceo-whitney-wolfe-herd-is-stepping-down-after-nearly-10-years">stepped down</a> from her role, citing the need for a change in leadership. This move came after Bumble&#8217;s parent company, MagicLab, was acquired by Blackstone Group. The acquisition led to a significant shift in the company&#8217;s leadership structure.
Despite the recent controversies, Bumble has been at the forefront of innovation in the online dating industry. In a recent interview, Whitney Wolfe Herd suggested that artificial intelligence could revolutionize <a href="https://www.benzinga.com/news/24/05/38774573/tired-of-swiping-left-and-right-bumble-founder-says-ai-could-do-it-for-you-no-no-truly">the online dating industry</a>. She proposed the idea of an &#8220;AI dating concierge&#8221; that could help users navigate their insecurities and even go on dates on their behalf.
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>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Social Media

Global

BMBL

Bumble Pulls Anti-Celibacy Ads After Outcry: 'We Unintentionally Did The Opposite'

On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) reported quarterly earnings of $0.38 per share which beat the analyst consensus estimate of $0.14 by 170 percent. The company reported quarterly sales of $581.594 million which beat the analyst consensus estimate of $497.163 million by 16.98 percent. This is a 28.09 percent increase over sales of $454.043 million the same period last year.

Earnings

Earnings Beats

ONON

On Holding Q1 2024 Adj EPS $0.38 Beats $0.14 Estimate, Sales $581.594M Beat $497.163M Estimate

The Taiwanese chip manufacturer Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has seen a surge in analyst upgrades. This comes as the demand for artificial intelligence chips continues to rise.
What Happened: As many as 14 analysts have upgraded TSMC in the past two weeks, <a href="https://www.cnbc.com/2024/05/14/14-analysts-upgraded-this-global-ai-chip-stock-in-the-past-2-weeks.html">reported</a> CNBC. The company&#8217;s stock has witnessed a 35% increase since the start of the year and a 60% rise over the past year.
"TSMC's shares remain attractive, as artificial intelligence-related demand continues to pleasantly surprise us, and there is limited downside to sentiment for the automotive and industrial markets," said Phelix Lee, equity analyst at Morningstar.&nbsp;
TSMC is the world&#8217;s leading producer of advanced processors, with a significant portion of its business driven by the AI sector. The company&#8217;s recent financial results, which exceeded revenue and profit expectations, have further bolstered its position.
&#8220;Without access to leading edge equipment, China has to order more legacy equipment to keep up with the West. This "inefficiency" has been estimated to likely create an additional ~10% in equipment demand over time," said Dan Kim, senior investment analyst at Saturna Capital.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38787490/gamestop-shares-surge-as-roaring-kitty-resurfaces-after-3-year-silence?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GameStop Shares Surge As &#8216;Roaring Kitty&#8217; Resurfaces After 3-Year Silence</a>
The recent upgrades are attributed to the strong demand for advanced chips, especially those used in AI applications. Analysts are optimistic about TSMC&#8217;s future prospects, citing factors such as its disciplined approach to capital spending and the unexpected speed of AI server orders.
Why It Matters: The surge in TSMC&#8217;s stock and the high demand for advanced chips are in line with <a href="https://www.benzinga.com/news/24/05/38807448/high-performance-memory-chip-supply-to-stay-tight-in-2024-amid-surging-ai-demand-major-manufacturers">the global trend</a> of increasing AI technology. Major chip manufacturers are facing shortages due to the exponential demand for AI technology, a situation that is expected to persist through 2024 and into 2025.
China&#8217;s aggressive <a href="https://www.benzinga.com/markets/asia/24/05/38800273/chinas-semiconductor-spending-tops-us-with-142b-commitment-global-chip-race-heats-up">investment in semiconductor technology</a> is also a significant factor in the global chip race. The U.S. and China are set to discuss the risks of advanced AI in Geneva, highlighting the strategic importance of AI technology in the ongoing geopolitical competition.
Analysts have also <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">predicted a 50% increase</a> in NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock due to its strong pricing power and AI roadmap, further underlining the growing significance of AI technology in the semiconductor industry.
Read Next: <a href="https://www.benzinga.com/insights/options/24/05/38791263/check-out-what-whales-are-doing-with-pltr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Check Out What Whales Are Doing With PLTR</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Equities

NVDA

Key Apple Supplier's Stock Gets 14 Upgrades In 2 Weeks Amid Soaring Demand: What's Going On?

Vodafone Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOD#NASDAQ">VOD</a>) reported quarterly earnings of $0.00 per share. This is a 97.54 percent decrease over earnings of $0.12 per share from the same period last year. The company reported $39.93 billion in sales this quarter. This is a 18.59 percent decrease over sales of $49.05 billion the same period last year.

Vodafone Group FY Adj $0.00 Down From $0.12 YoY, Sales $39.93B Down From $49.05B YoY

The artificial intelligence revolution kicked into high gear in early 2023 following the widespread adoption of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38806678/elon-musk-shrugs-off-openais-latest-announcement-after-x-user-says-that-99-of-the-economy-will-be-ai" rel="noreferrer noopener">OpenAI</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38806678/elon-musk-shrugs-off-openais-latest-announcement-after-x-user-says-that-99-of-the-economy-will-be-ai" rel="noreferrer noopener">&#8216;s&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38806678/elon-musk-shrugs-off-openais-latest-announcement-after-x-user-says-that-99-of-the-economy-will-be-ai" rel="noreferrer noopener">ChatGPT</a>&nbsp;chatbot. Companies rushed to leverage this technology, leading to a notable improvement in their financial performance. As a result, the publicly-listed shares of these companies surged, enriching their founders and executives whose compensation is closely tied to stock awards.
Here&#8217;s a breakdown of the notable executives who reaped substantial gains by spearheading the AI revolution at their respective companies (or by just being in the right place at the right time):
<h2 class="wp-block-heading">1. Jensen Huang</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042130/shutterstock_2309655121-1024x683.jpg" alt="" class="wp-image-336549" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042130/shutterstock_2309655121-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042130/shutterstock_2309655121-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042130/shutterstock_2309655121-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042130/shutterstock_2309655121-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042130/shutterstock_2309655121.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Photo courtesy: Shutterstock</figcaption></figure>
Net worth: $79.5 billion
Forbes Billionaire Ranking: 17
Nvidia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) quickly pivoted to AI, securing a near-monopoly position in supplying high-performance AI accelerator chips. Under co-founder&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38782845/nvidia-ceo-jensen-huangs-demanding-leadership-style-draws-mixed-reactions-from-experts-some-defe" rel="noreferrer noopener">Huang&#8217;s leadership</a>, Nvidia&#8217;s revenue soared by 126% to $60.92 billion in 2023, with earnings per share skyrocketing by 586% to $11.93. This remarkable growth propelled Huang&#8217;s net worth from $21.1 billion to $79.5 billion.
<h2 class="wp-block-heading">2. Charles Liang</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="563" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042322/charles-liang-fullsize-1024x563.jpg" alt="" class="wp-image-336553" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042322/charles-liang-fullsize-1024x563.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042322/charles-liang-fullsize-300x165.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042322/charles-liang-fullsize-768x422.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042322/charles-liang-fullsize.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Photo courtesy: Super Micro</figcaption></figure>
Net worth: $4.2 billion
Forbes Billionaire Ranking: 769
Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), led&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37516106/super-micros-earnings-skyrocket-with-ai-demand-analyst-highlights-growth-trajectory" rel="noreferrer noopener">by chairman and CEO Liang</a>, manufactures AI servers and storage solutions. Taiwan-born Liang&#8217;s net worth surged alongside the company&#8217;s success, reaching $4.2 billion, which saw it being added to the S&amp;P 500 Index.
<h2 class="wp-block-heading">3. Kwak Dong Shin</h2>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="600" height="492" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042419/Kwak-Dong-Shin-Hanmi.jpeg" alt="" class="wp-image-336555" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042419/Kwak-Dong-Shin-Hanmi.jpeg 600w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042419/Kwak-Dong-Shin-Hanmi-300x246.jpeg 300w" sizes="(max-width: 600px) 100vw, 600px" /><figcaption class="wp-element-caption">Photo courtesy: Hanmi</figcaption></figure>
Net worth: $3.7 billion
Forbes Billionaire Ranking: 888
Hanmi Semiconductor&nbsp;Vice Chairman and CEO Dong Shin boasts a net worth of $3.7 billion, driven by his 35.5% stake in the company. Hanmi&#8217;s advanced packaging equipment plays a crucial role in semiconductor performance, aligning with the growing demand for high bandwidth memory (HBM) in AI systems.
<h2 class="wp-block-heading">4. Shunsaku Sagami</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="980" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042512/Sagami-980x1024.jpeg" alt="" class="wp-image-336557" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042512/Sagami-980x1024.jpeg 980w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042512/Sagami-287x300.jpeg 287w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042512/Sagami-768x802.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042512/Sagami.jpeg 1034w" sizes="(max-width: 980px) 100vw, 980px" /><figcaption class="wp-element-caption">Photo courtesy: M&amp;A</figcaption></figure>
Net worth: $1.2 billion
Forbes Billionaire Ranking: 1,694
Sagami founded&nbsp;M&amp;A Research Institute, a Tokyo-based M&amp;A advisory firm leveraging AI. Despite his young age of 33, Sagami&#8217;s firm garnered significant attention and investor interest, propelling his net worth to $1.2 billion.
<h2 class="wp-block-heading">5. Ivan Zhao</h2>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="387" height="264" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042619/Ivan-Zhao.png" alt="" class="wp-image-336558" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042619/Ivan-Zhao.png 387w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042619/Ivan-Zhao-300x205.png 300w" sizes="(max-width: 387px) 100vw, 387px" /><figcaption class="wp-element-caption">Photo courtesy: Notion</figcaption></figure>
Net worth: $1.5 billion
Forbes Billionaire Ranking: 2,140
Zhao co-founded&nbsp;Notion Labs, a productivity software company known for its flagship product Notion. With AI integration enhancing Notion&#8217;s functionality, Zhao&#8217;s 30% stake in the company contributed to his $1.5 billion net worth.
<h2 class="wp-block-heading">6. Brett Adcock</h2>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="852" height="651" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042723/Brett_Adcock_01.jpg" alt="" class="wp-image-336559" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042723/Brett_Adcock_01.jpg 852w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042723/Brett_Adcock_01-300x229.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042723/Brett_Adcock_01-768x587.jpg 768w" sizes="(max-width: 852px) 100vw, 852px" /><figcaption class="wp-element-caption">Photo courtesy: <a href="https://en.wikipedia.org/wiki/Brett_Adcock#/media/File:Brett_Adcock_01.jpg" target="_blank" rel="noreferrer noopener">Wikimedia Commons</a> </figcaption></figure>
Net worth: $1.4 billion
Forbes Billionaire Ranking: 2,236
Adcock founded&nbsp;Figure AI, an AI robotics company that attracted investments from industry giants like&nbsp;Microsoft&nbsp;and Nvidia. With a valuation of $2.6 billion, Adcock&#8217;s estimated 50% stake in Figure propelled him into the billionaire ranks.
<h2 class="wp-block-heading">7. Lisa Su</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="738" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042837/shutterstock_2334820535-1024x738.jpg" alt="" class="wp-image-336560" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042837/shutterstock_2334820535-1024x738.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042837/shutterstock_2334820535-300x216.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042837/shutterstock_2334820535-768x553.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042837/shutterstock_2334820535.jpg 1499w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Photo courtesy: Shutterstock</figcaption></figure>
Net worth: $1 billion
Forbes Billionaire Ranking: 2,763
<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37601308/amd-ceo-lisa-su-says-ai-is-most-important-technology-of-last-50-years-everyone-will-want-an-ai-p" rel="noreferrer noopener">AMD CEO Su</a>&nbsp;revitalized the company&#8217;s fortunes with the launch of Ryzen processors. AMD&#8217;s foray into AI with M1300 AI accelerators contributed to Su&#8217;s net worth of $1 billion.
<h2 class="wp-block-heading">8. Michelle Zatlyn</h2>
<figure class="wp-block-image size-large"><a href="https://commons.wikimedia.org/wiki/File:Collision_2019_-_Toronto_-_ENX_9646_%2847894937341%29.jpg"><img loading="lazy" decoding="async" width="1024" height="724" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042924/Collision_2019_-_Toronto_-_ENX_9646_47894937341-1024x724.jpg" alt="" class="wp-image-336561" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042924/Collision_2019_-_Toronto_-_ENX_9646_47894937341-1024x724.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042924/Collision_2019_-_Toronto_-_ENX_9646_47894937341-300x212.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042924/Collision_2019_-_Toronto_-_ENX_9646_47894937341-768x543.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14042924/Collision_2019_-_Toronto_-_ENX_9646_47894937341.jpg 1511w" sizes="(max-width: 1024px) 100vw, 1024px" /></a><figcaption class="wp-element-caption">Photo courtesy: <a href="https://commons.wikimedia.org/wiki/File:Collision_2019_-_Toronto_-_ENX_9646_%2847894937341%29.jpg">Wikimedia Common</a>s</figcaption></figure>
Net worth: $1.2 billion
Forbes Billionaire Ranking: 2,410
Canadian-born Zatlyn co-founded&nbsp;Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), democratizing AI use for developers. The 44-year-old&#8217;s 2% stake in the company, where she plays the role of COO, combined with Cloudflare&#8217;s AI-powered infrastructure, led to her $1.2 billion net worth.
<h2 class="wp-block-heading">9. Sam Altman</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043124/shutterstock_2425252275-1024x683.jpg" alt="" class="wp-image-336566" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043124/shutterstock_2425252275-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043124/shutterstock_2425252275-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043124/shutterstock_2425252275-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043124/shutterstock_2425252275-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043124/shutterstock_2425252275.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Photo courtesy: Shutterstock</figcaption></figure>
Net worth: $1 billion
Forbes Billionaire Ranking: 2,692
Altman is the co-founder of OpenAI and a venture capital investor. A Stanford dropout, he founded the social-mapping company Loopt. Later, he was a partner at AI accelerator Y Combinator, serving as its president between 2014 and 2019. According to Forbes,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38789502/sam-altman-received-openai-dismissal-news-while-he-was-in-vegas-hotel-room-during-f1-grand-prix-i-wa" rel="noreferrer noopener">Altman has no equity stake</a>&nbsp;in OpenAI, but his wealth is by way of his investments in&nbsp;Stripe,&nbsp;Reddit, and nuclear fusion firm&nbsp;Helion.
<h2 class="wp-block-heading">10. Harvey Jones</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043853/Harvey-Jones-820x1024.jpg" alt="" class="wp-image-336581" style="aspect-ratio:3/2;object-fit:cover" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043853/Harvey-Jones-820x1024.jpg 820w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043853/Harvey-Jones-240x300.jpg 240w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043853/Harvey-Jones-768x959.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14043853/Harvey-Jones.jpg 865w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo courtesy: Nvidia</figcaption></figure>
Net worth: $1.1 billion
Forbes Billionaire Ranking: 2,679
Jones, a venture capitalist and entrepreneur who co-founded companies such as&nbsp;Daisy Systems&nbsp;and&nbsp;Tensilica, earned substantial compensation from&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/06/32884099/nvidia-insiders-continue-to-sell-shares-after-hitting-all-time-highs-1-trillion-market-cap-what-inve" rel="noreferrer noopener">his board membership</a>&nbsp;at Nvidia, adding to his net worth of $1.1 billion.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-artificial-intelligence-stocks" rel="noreferrer noopener">Best Artificial Intelligence Stocks</a>
The&nbsp;Global X Artificial Intelligence &amp; Technology ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) ended Monday&#8217;s session up 0.60% at $33.59, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">Benzinga Pro data.</a>&nbsp;The exchange-traded fund has gained 7.73% for the year-to-date period.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38800273/chinas-semiconductor-spending-tops-us-with-142b-commitment-global-chip-race-heats-up">China&#8217;s Semiconductor Spending Tops US With $142B Commitment: Global Chip Race Heats Up</a>

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The 8 'Silent' Billionaires Cashing In On The AI Boom (Besides Nvidia's Jensen Huang And OpenAI's Sam Altman)

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has endured corrective price action since hitting its yearly peak in March, but an analyst believes the memecoin has the potential for a big upward burst.
What Happened: In an X post, widely followed cryptocurrency expert World Of Charts drew attention to SHIB's descending channel, which has been in place since the coin hit yearly highs in early March. Since then, the meme token has plunged 33%.
However, if SHIB managed to break out of the said zone, there was the likelihood of a strong uptrend in the coming days, the analyst forecasted. 
<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"><a href="https://twitter.com/search?q=%24Shib&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Shib</a> Still Consolidating With In Descending Channel Incase Of Successful Breakout Expecting Massive Bullish <a href="https://twitter.com/hashtag/Shib?src=hash&amp;ref_src=twsrc%5Etfw">#Shib</a> Is In Uptrend Expecting Higher In High In Coming Days<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://t.co/MrRrQYOPSB">pic.twitter.com/MrRrQYOPSB</a>
&mdash; World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1790244725724946905?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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"Still Consolidating With In Descending Channel Incase Of Successful Breakout Expecting Massive Bullish Shib Is In Uptrend Expecting Higher In High In Coming Days."
Another well-known expert in the space, Ali Martinez, had predicted something similar, anticipating a potential 20% bounce to $0.00002954.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaInu</a> breaks the upper boundary of this descending parallel channel at $0.00002444, <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> could witness a 20% upswing to $0.00002954! <a href="https://t.co/z5qBKiiyNy">pic.twitter.com/z5qBKiiyNy</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1790023610159001968?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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Why It Matters: These predictions come as the broader memecoin market <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38806925/pepe-becomes-hot-commodity-on-roaring-kitty-phenomenon-analyst-says-the-coin-should-be-on-">rallied on the ‘Roaring Kitty' frenzy</a>. Nearly all the leading coins in the sector notched up impressive gains in the last 24 hours.
Regarding SHIB, large transactions volumes worth more than $100,000, soared by a whopping 2314% in the last 24 hours, <a href="https://app.intotheblock.com/?end_offset=20">according</a> to IntoTheBlock data. In the same time, the total balance of long-term holders of the coin dropped by 0.17%, a sign of profit-taking.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00002385, following a 1.18% rise in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38807059/roaring-kitty-comeback-makes-cat-themed-coins-explode-roar-shoots-up-over-500"> &#8216;Roaring Kitty&#8217; Comeback Makes Cat-Themed Coins Explode: ROAR Shoots Up Over 500%</a>

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Crypto Analyst Sees 'Massive Bullish Sentiment' For Shiba Inu If Memecoin Crosses This Hurdle

Taiwan's&nbsp;Hon Hai Precision (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>) operating as&nbsp;Foxconn Technology Group has reported a significant increase in its first-quarter net profit, despite a decline in revenue attributed to weakened consumer electronics demand.
What Happened: The Taiwan-based contract manufacturer, known for assembling Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s iPhones, announced on Tuesday that its net profit for the first quarter rose by 72% from the previous year, reaching NT$22.01 billion (US$679 million), <a href="https://www.wsj.com/business/earnings/foxconn-profit-surges-on-low-base-but-revenue-falls-91b74d36?mod=latest_headlines">reported</a> The Wall Street Journal.
This increase, however, fell short of the NT$28.76 billion estimated by analysts in a FactSet poll. The surge in profit was attributed to a low base last year when Foxconn faced a NT$17.3 billion write-down linked to its 34% stake in Japanese electronics maker Sharp.
Despite the profit surge, first-quarter revenue dropped by 9% to NT$1.324 trillion due to reduced consumer electronics demand.
The pandemic had caused a delay in production and shipment at Foxconn&#8217;s Zhengzhou, China factory, leading to a high base of comparison for the first quarter of last year. Nevertheless, its cloud and networking segment experienced strong revenue growth, driven by robust artificial intelligence server demand.
See Also: <a href="https://www.benzinga.com/insights/options/24/05/38791263/check-out-what-whales-are-doing-with-pltr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Check Out What Whales Are Doing With PLTR</a>
Foxconn has been diversifying its business lines in recent years, including ventures into electric vehicles and AI. The company is also expanding its production in countries such as India to reduce its reliance on China.
Why It Matters: Foxconn&#8217;s performance comes on the heels of a 9% decline in its <a href="https://www.benzinga.com/markets/equities/24/04/38108303/apples-key-supplier-foxconn-reports-9-decline-in-first-quarter-revenue-anticipates-growth-in-fut">first-quarter revenue for 2024</a>. Despite this, the company anticipated a revenue increase for the second quarter of 2024, traditionally considered an &#8220;off-peak season.&#8221;
Earlier in May, Foxconn reported its <a href="https://www.benzinga.com/markets/equities/24/05/38641338/apples-largest-iphone-manufacturer-reports-its-best-ever-april-revenue-amid-stronger-iphone-dema">best-ever April revenue</a>, marking a 19% surge in monthly revenue. This achievement led to a record high for April and a subsequent rise in the company&#8217;s shares to an all-time high in Taiwan.
In March, it was reported that Foxconn was <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37689044/apples-tech-ally-foxconn-is-making-a-play-for-the-ai-server-market-with-nvidia-ming">making a play for the AI server market</a> through a strategic partnership with NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). This move was expected to position Foxconn to benefit from a closer partnership with Nvidia in the long run.
Despite its financial performance, Foxconn has been facing political challenges in its home country. In November, Foxconn&#8217;s founder, Terry Gou, <a href="https://www.benzinga.com/news/23/11/35954719/taiwans-political-future-hangs-in-balance-as-these-three-factions-battle-to-replace-tsai-ing-wen">withdrew his bid for the Taiwanese presidency</a>, leading to a political shakeup as opposition parties vied for power.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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AAPL

HNHPF

Apple's Biggest iPhone Assembler Posts 72% Profit Surge Even As Revenue Takes Hit From Weaker Consumer Electronics Demand

Learn CW Investment Corporation (the &quot;Company,&quot; &quot;we&quot; or &quot;our&quot;), a special purpose acquisition company, announced today that it has further extended the period of time the Company will have to consummate its initial business combination by an additional one month from May 13, 2024 to June 13, 2024 (the &quot;Extension&quot;) through the timely deposit of an aggregate of&nbsp;$150,000&nbsp;into the Company&#39;s trust account. This Extension is the eighth of up to twelve one-month extensions permitted under the Company&#39;s governing documents, as amended pursuant to the Extraordinary General Meeting of the Company shareholders that took place on October 11, 2023

Reported Earlier, Learn CW Investment Extends The Period To Consummate Its Initial Business Combination To June 13, 2024

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
For sharp investors looking for significant returns, overlooked <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> have the potential to alter the game. These three equities offer distinct prospects for success within their respective industries. The first one&rsquo;s emphasis on exploration suggests higher profitability in the gold mining sector and promises to prolong mine life.&nbsp;



Concurrently, the second one&rsquo;s impressive increase in transaction volumes indicates increased user involvement, especially in China&rsquo;s thriving mobility industry, establishing it as a significant force in the transportation technology space. Additionally, the third one&rsquo;s enormous increase in cash and cryptocurrency worth highlights its dominance in the market and provides investors with a means to profit from the growth in digital assets.



These penny stocks continue to hold strong despite market difficulties. Each business&rsquo;s constant dedication to using cutting-edge tactics for long-term expansion unites these prospects. This dedication is demonstrated by the first one&rsquo;s exploratory efforts, the second&rsquo;s user-centric strategy, and the third&rsquo;s wise financial management, which offer solid arguments for more research into these equities.



<h2>Galiano Gold (GAU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/gold-stocks-300x169.png" alt="An image of a rising bar graph on top of gold bars, representing gold stocks"><div>Source: Alexander Limbach / Shutterstock</div></div>An essential component of Galiano Gold&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/gau-stock-quote/">GAU</a>) growth strategy is exploration, which is necessary to find new mineral deposits and prolong the life of the existing operations&rsquo; mines. Galiano Gold focuses on reserve replacement and resource expansion, reflected in the range of exploration projects in 2023. In short, the goal of the Gyagyatreso prospect drill test and the&nbsp;<a href="https://www.galianogold.com/news/news-details/2024/GALIANO-GOLD-ANNOUNCES-SIGNIFICANT-DRILL-RESULTS-FROM-ABORE-INCLUDING-45m--12.4-gt-Au--37m--10.6-gt-Au/default.aspx" target="_blank">Abore infill drilling</a> is to identify new mineralization and upgrade current resources to reserves to increase the sustainability and profitability of the company&rsquo;s mining operations.



Furthermore, its milling performance is essential to Galiano Gold&rsquo;s operational effectiveness and gold extraction procedure. The Asanko Gold Mine&rsquo;s (AGM) processing facilities were effectively utilized, reflected in the throughput of&nbsp;<a href="https://s24.q4cdn.com/325379252/files/doc_financials/2023/q4/Galiano-Q4-2023-Financial-Results-News-Release-Final.pdf" target="_blank">1.5 million metric tons</a>&nbsp;of ore during Q4 2023. The company maintains a stable supply of gold-bearing material for extraction, ensured by operational stability and efficiency in ore processing.&nbsp;



Lastly, the&nbsp;<a href="https://s24.q4cdn.com/325379252/files/doc_financials/2023/q4/Galiano-Q4-2023-Financial-Results-News-Release-Final.pdf" target="_blank">84% metallurgical recovery rate</a>&nbsp;in Q4 2023 highlights the efficiency of Galiano Gold&rsquo;s extraction method. Hence, a high recovery rate&nbsp;indicates effective gold extraction techniques that maximize the total output from the treated ore while reducing gold losses.



<h2>DiDi (DIDIY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/didiy1600-300x169.png" alt="In this photo illustration the Didi Chuxing logo seen displayed on a smartphone. DIDI is now traded as DIDIY stock."><div>Source: rafapress / Shutterstock.com</div></div>DiDi (OTCMKTS:<a href="https://investorplace.com/stock-quotes/didiy-stock-quote/">DIDIY</a>) had a boost in core platform transactions in 2023, which suggests that user engagement and platform utilization have increased. The company generated&nbsp;<a href="https://s28.q4cdn.com/896456191/files/doc_financials/2023/q4/DiDi_2023_Q4_Press_Release_.pdf" target="_blank">3.715 million</a>&nbsp;core platform transactions in Q4 2023 alone, an amazing growth rate of 64.8% over Q4 2022. This increase in transaction volume is more evidence of DiDi&rsquo;s capacity to draw and hold consumers on its network.



Furthermore, a sizable amount of DiDi&rsquo;s total transaction volume&nbsp;comprised transactions within the China Mobility segment. Transactions in this area reached&nbsp;<a href="https://s28.q4cdn.com/896456191/files/doc_financials/2023/q4/DiDi_2023_Q4_Press_Release_.pdf" target="_blank">10,809 million in 2023</a>, reflecting a robust growth rate of 39.8% compared to 2022. This&nbsp;suggests that there will continue to be a need for mobility services in China and that DiDi can take a significant portion of this market.



Finally, the international segment&rsquo;s transaction volume rose&nbsp;due to DiDi&rsquo;s attempts to grow globally. Transactions in this area reached<a href="https://s28.q4cdn.com/896456191/files/doc_financials/2023/q4/DiDi_2023_Q4_Press_Release_.pdf" target="_blank">&nbsp;2.660 million in 2023</a>, a noteworthy growth of 36.2% in 2022. Therefore, this&nbsp;shows that DiDi&rsquo;s worldwide market growth efforts are paying off, as seen by increased user adoption and transaction volume.



<h2>BTCS (BTCS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/cryptos-1600-1-300x169.png" alt="Crypto coins on a phone screen showing stats for various cryptocurrencies.. Cryptos to Buy Before the Market Swing. rising meme cryptos. altcoins"><div>Source: Chinnapong / Shutterstock</div></div>The core of BTCS&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/btcs-stock-quote/">BTCS</a>) long-term asset growth and fundamental base is cash and cryptocurrency value. The company&rsquo;s cash and cryptocurrency worth as of Dec. 31, 2023, was&nbsp;<a href="https://www.globenewswire.com/news-release/2024/03/22/2850934/0/en/BTCS-Reports-2023-Results.html" target="_blank">$26.7 million</a>, a massive 82% growth over the previous year. This significant increase results from the period&rsquo;s gain in BTCS&rsquo;s crypto assets. In addition, the value of cryptocurrency and cash assets increased further, hitting $36.5 million on Mar. 19, 2024.



Indeed,&nbsp;the continuing cryptocurrency price surge until early 2024 will favorably impact BTCS&rsquo;s asset portfolio. The rising value of crypto assets improves the company&rsquo;s financial situation, freeing up cash for more strategic projects and future investments.



Moreover, stability in the gross margin is yet another vital component of BTCS&rsquo;s financial performance. Despite the sales reduction, the company&rsquo;s gross margin in&nbsp;<a href="https://www.globenewswire.com/news-release/2024/03/22/2850934/0/en/BTCS-Reports-2023-Results.html" target="_blank">2023 was 73%</a>, down just a little from 75% in 2022. This numerical pattern shows that the business can maintain profitability in the face of variations in sales.&nbsp;



Overall, the steady gross margin indicates that BTCS has successfully controlled price and&nbsp;<a href="https://www.globenewswire.com/news-release/2024/02/01/2822004/0/en/BTCS-Inc-Launches-Builder-to-Enhance-Ethereum-Blockchain-Infrastructure.html" target="_blank">cost structures</a>&nbsp;to lessen the adverse effects of falling sales on its bottom line.&nbsp;



On the date of publication, Yiannis Zourmpanos 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>Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-hidden-penny-stocks-ready-to-explode-next-month/">3 Hidden Penny Stocks Ready to Explode Next Month</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.