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The U.S. Securities and Exchange Commission has filed a lawsuit against Patrick Orlando, the former CEO of Digital World Acquisition Corp, the company that facilitated the public listing of Donald Trump&#39;s social media venture. The lawsuit, filed on Wednesday, alleges Orlando of committing securities fraud.

Trump-Linked Digital World&#39;s Former CEO Sued By SEC For Securities Fraud

President,Donald,Trump,Disembarks,Air,Force,One,In,Ronkonkoma,,Ny,

REIT

Real Estate

Invest Like Donald Trump With This Stock Yielding 8.1%

Trump,Sign,Atop,Trump,International,Hotel,Golden,Skyscraper,Facade,Of

General

Donald Trump&#39;s Real Estate Portfolio is Highly Concentrated in These Two States

TRUMP MEDIA & TECHNOLOGY GROUP CORP UNIT 1 CL A & 1/2 REDEEMABLE WT EXP

<p>With a change in its business practices,<strong> GameStop Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) allows CEO <strong>Ryan Cohen</strong> the ability to buy and sell stocks and cryptocurrency with<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36142175/meme-king-ryan-cohen-now-able-to-trade-stocks-with-gamestop-funds"> the company's cash.</a></p>
<p>While GameStop hasn't added <strong>Bitcoin </strong>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to its balance sheet yet, the company did help one customer turn a small purchase into a full BTC worth over $60,000.</p>
<p><strong>What Happened: </strong>The Cardsmiths Currency Series 1 trading card series, launched in 2022, features influential people to <a href="https://www.benzinga.com/crypto">the cryptocurrency sector,</a> memes and artifacts. The set also includes randomly inserted redemption codes that are available to trade for various amounts of Bitcoin, <strong>Ethereum </strong>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), <strong>Litecoin </strong>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) and <strong>Dogecoin </strong>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).</p>
<p>A GameStop customer found one of the redemption cards previously and upon scratching it off last month, realized he had one of the rarest cards good to redeem for one full Bitcoin. This turned his initial $33 purchase for the pack of cards into a Bitcoin worth more than $60,000.</p>
<p>The consumer shared his findings in a post on <a href="https://www.reddit.com/r/Currencytradingcards/comments/1es9ypc/got_one/">Reddit</a>, with the action now going viral thanks to GameStop tweeting about the unique story.</p>
<p>"A GameStop customer found 1 Bitcoin in a trading card pack," GameStop <a href="https://x.com/gamestop/status/1836110246558961800">tweeted</a>.</p>
<p>According to the Reddit post, the user said they thought the unscratched redemption card "looked better in the binder."</p>
<p>Later upon scratching off the card, the card owner thought the redemption card was good for a part of a whole Bitcoin before realizing that it was for one BTC.</p>
<p>"This is mind boggling to me honestly," the owner said.</p>
<p>The user did admit to have previously buying and opening 10 to 12 boxes of the Cardsmiths Currency Series 1 trading cards.</p>
<p><strong>Read Also:<a href="https://www.benzinga.com/news/earnings/24/09/40803991/gamestop-q2-earnings-highlights-revenue-miss-eps-beat-cash-update-and-more"> GameStop Q2 Earnings Highlights: Revenue Miss, EPS Beat, Cash Update And More</a></strong></p>
<p><strong>Why It's Important:</strong> The price of Bitcoin was around $16,500 when the series 1 currency trading card set was released, as reported by <a href="https://www.cllct.com/sports-collectibles/memorabilia/collector-finds-bitcoin-in-pack-of-cards-from-game-stop">Cllct</a>.</p>
<p>Another GameStop purchaser also found a Bitcoin redemption card back in March, but the number of unredeemed full Bitcoin cards could be 0 or 1 now, according to the report.</p>
<p>The company behind the Cardsmiths Currency Trading Cards said the set offered the "industry-first cryptocurrency redemption program."</p>
<p>Series 1 of the set is believed to have had five Bitcoin redemption cards. The company's CEO said earlier this year that there were only a couple unredeemed BTC cards according to a user on the Reddit thread, which could suggest that the two pulled at GameStop were the last ones.</p>
<p>The recent tweet will likely put increased attention on the currency trading cards and also GameStop's<a href="https://www.benzinga.com/general/gaming/24/05/38799011/gamestop-dives-into-collectibles-market-with-pok-mon-trading-cards"> recent push into trading cards</a> in stores and online.</p>
<p>GameStop's <a href="https://www.gamestop.com/search/?prefn1=brand&amp;prefv1=Cardsmiths&amp;q=Currency%20Trading%20Cards&amp;view=new&amp;utm_campaign=brand&amp;utm_content=1726594207&amp;utm_medium=social&amp;utm_source=instagram">website </a>currently lists several Cardsmiths items for sale including:</p>
<ul>
<li>Series 3 Collectors Box 2-Pack: $36.99</li>
<li>Series 3 Mega Box (40 Cards): $105.99</li>
<li>Series 2 Collectors Box 2-Pack: $30.00</li>
<li>Series 1 Collectors Box 2-Pack: $31.99</li>
</ul>
<p>While the full Bitcoin redemption cards from series 1 could be completely gone, each series has redemption cards for various amounts of Bitcoin, Ethereum, Litecoin and Dogecoin.</p>
<p>For Series 1, the odds of getting a cryptocurrency redemption code was listed at 1:96 packs.</p>
<p><strong>GME, BTC Price Action:</strong> GameStop stock trades at $19.62 versus a 52-week trading range of $9.95 to $64.83. GameStop stock is up 17.7% year-to-date in 2024.</p>
<p>Bitcoin trades at $63,688.18, up 5% over the last 24 hours. Bitcoin has traded between $26,011.47 to $73,750.07 over the last 52-weeks and is up 43.8% year-to-date in 2024.</p>
<p><strong>Read Next: </strong></p>
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39677771/gamestop-offering-25k-bounty-on-rare-lionel-messi-card-video-game-retailer-deepens-trading-card-push"><strong>GameStop Offering $25K Bounty On Rare Lionel Messi Card: Video Game Retailer Deepens Trading Card Push</strong></a></li>
</ul>


Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

$ETH

$LTC

Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: 'Mind-Boggling' Story Goes Viral, Highlights Crypto Redemption Card

WIIM

LBPH

Longboard Pharmaceuticals shares are trading higher after the company announced it received rare pediatric disease and orphan drug designations from the FDA for bexicaserin (LP352) in Dravet syndrome.

FactSet Research Systems shares are trading higher following better-than-expected Q4 financial results.

COSM

Cosmos Health Enters Development Phase For CCDL24, A New Multitargeting Treatment For Gastrointestinal Disorders

Contracts

General Dynamics Information Technology Secures $299M Contract To Support Pentagon's Network Infrastructure Through DISA's JSP ETM-NG Program, With One-Year Base Period And Two Six-Month Options

LUNR

Intuitive Machines shares are trading higher after B. Riley Securities raised its price target on the stock from $8 to $12.

<p><strong>Corcept Therapeutics</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cort#NASDAQ">CORT</a>) shares soared 6.5% in the last trading session to close at $42.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock&#39;s 15.7% gain over the past four weeks.</p>
<p>The company&#39;s sole marketed drug, Korlym, approved for treating Cushing&#39;s syndrome, is witnessing strong demand and driving growth. Also, a new drug application for the lead candidate, relacorilant, to treat Cushing&#39;s syndrome is expected to be filed in the fourth quarter of 2024. The ongoing progress with Korlym and relacorilant could be the reason for the share price rally.</p>
<p>This drug developer is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -7.1%. Revenues are expected to be $171.04 million, up 38.4% from the year-ago quarter.</p>
<p>Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.</p>
<p>For Corcept, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock&#39;s price usually doesn&#39;t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CORT going forward to see if this recent jump can turn into more strength down the road.</p>
<p>The stock currently carries a Zacks Rank #3 (Hold).</p>
<p>Corcept is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, <strong>Zoetis</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zts#NYSE">ZTS</a>), finished the last trading session 0.4% higher at $196.48. ZTS has returned 6.6% over the past month.</p>
<p>For Zoetis, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.46. This represents a change of +7.4% from what the company reported a year ago. Zoetis currently has a Zacks Rank of #2 (Buy).</p>
<p><a href="https://www.zacks.com/stock/news/2338319/corcept-cort-moves-6-5-higher-will-this-strength-last?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_5%-2338319">To read this article on Zacks.com click here.</a></p>


Earnings

Mid Cap

Analyst Ratings

Trading Ideas

CORT

Corcept Moves 6.5% Higher: Will This Strength Last?

CAKE

TXRH

WING

Shares of hotel, restaurant and leisure companies are trading higher following the Fed's rate cut, which could boost consumer spending.

CROX

Crocs shares are trading lower in possible sympathy with Sketchers which warned of current trends in China during a Wells Fargo Consumer Conference.

Macro Notification

X Lawyers In Brazil Report Platform Will Soon Present Legal Representative To Supreme Court And Has Begun Complying With Court Orders To Remove Hate Content; Unintentional Technical Issue Allowed Some Users To Access X On Wednesday

<p>-Wells Fargo Consumer Conference&nbsp;&nbsp;&nbsp;&nbsp;</p>


Guidance

Skechers CFO Expects Greater-Than-Anticipated Headwinds In China For Second Half Of 2024 Due To Slower Post-COVID Recovery, Despite Long-Term Growth Opportunities; Says "Not Really Going To Give Very Specific Guidance"

<p>Whales with a lot of money to spend have taken a noticeably bullish stance on <strong>SoFi Techs</strong>.</p>
<p>Looking at options history for SoFi Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) we detected 13 trades.</p>
<p>If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 30% with bearish.</p>
<p>From the overall spotted trades, 3 are puts, for a total amount of $195,502 and 10, calls, for a total amount of $449,997.</p>
<h3>Expected Price Movements</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $15.0 for SoFi Techs, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for SoFi Techs's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of SoFi Techs's whale trades within a strike price range from $5.0 to $15.0 in the last 30 days. </p>
<h3>SoFi Techs Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726774355_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>SOFI</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$2.3</td>
<td>$2.26</td>
<td>$2.28</td>
<td>$10.00</td>
<td>$114.0K</td>
<td>1.2K</td>
<td>500</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$0.78</td>
<td>$0.77</td>
<td>$0.78</td>
<td>$10.00</td>
<td>$105.1K</td>
<td>23.3K</td>
<td>196</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.55</td>
<td>$3.45</td>
<td>$3.55</td>
<td>$5.00</td>
<td>$71.0K</td>
<td>23.1K</td>
<td>246</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$2.2</td>
<td>$2.17</td>
<td>$2.17</td>
<td>$10.00</td>
<td>$43.4K</td>
<td>32.7K</td>
<td>1.0K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$2.2</td>
<td>$2.17</td>
<td>$2.17</td>
<td>$10.00</td>
<td>$43.4K</td>
<td>32.7K</td>
<td>666</td>
</tr>
</tbody>
</table>
</p>
<h3>About SoFi Techs</h3>
<p>SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.</p>
<p>In light of the recent options history for SoFi Techs, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of SoFi Techs</h3>
<ul>
<li>With a volume of 48,503,121, the price of SOFI is up 1.42% at $8.22. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 39 days.</li>
</ul>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.</p>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for SoFi Techs, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Options

SOFI

Smart Money Is Betting Big In SOFI Options

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Ally Financial</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ALLY, it often means somebody knows something is about to happen.</p>
<p>Today, Benzinga's options scanner spotted 14 options trades for <strong>Ally Financial</strong>.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 35% bullish and 57%, bearish.</p>
<p>Out of all of the options we uncovered, there was 1 put, for a total amount of $83,160, and 13, calls, for a total amount of $774,883.</p>
<h3>Projected Price Targets</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $45.0 for Ally Financial over the last 3 months. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Ally Financial's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Ally Financial's whale trades within a strike price range from $30.0 to $45.0 in the last 30 days. </p>
<h3>Ally Financial 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726774350_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>ALLY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$8.4</td>
<td>$8.1</td>
<td>$8.4</td>
<td>$30.00</td>
<td>$155.4K</td>
<td>292</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>ALLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$8.4</td>
<td>$7.9</td>
<td>$8.4</td>
<td>$30.00</td>
<td>$121.8K</td>
<td>292</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>ALLY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.5</td>
<td>$4.5</td>
<td>$4.5</td>
<td>$32.00</td>
<td>$94.9K</td>
<td>1.2K</td>
<td style="text-align: right;">211</td>
</tr>
<tr>
<td>ALLY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$8.4</td>
<td>$8.4</td>
<td>$8.4</td>
<td>$30.00</td>
<td>$83.1K</td>
<td>292</td>
<td style="text-align: right;">349</td>
</tr>
<tr>
<td>ALLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$11.0</td>
<td>$10.8</td>
<td>$10.8</td>
<td>$45.00</td>
<td>$83.1K</td>
<td>35</td>
<td style="text-align: right;">81</td>
</tr>
</tbody>
</table>
</p>
<h3>About Ally Financial</h3>
<p>Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country. While the firm has expanded its product offerings over time, it remains primarily focused on auto lending with more than 70% of its loan book in consumer auto loans and dealer financing. Ally also offers auto insurance, commercial loans, credit cards, and holds a portfolio of mortgage debt, giving the bank a diversified business model, which includes brokerage services.</p>
<p>In light of the recent options history for Ally Financial, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of Ally Financial</h3>
<ul>
<li>Currently trading with a volume of 3,526,724, the ALLY's price is up by 1.38%, now at $34.52. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 29 days.</li>
</ul>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.</p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Ally Financial options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


ALLY

Check Out What Whales Are Doing With ALLY

<p>Deep-pocketed investors have adopted a bearish approach towards Iris Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in IREN usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Iris Energy. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 29% leaning bullish and 47% bearish. Among these notable options, 8 are puts, totaling $2,146,613, and 9 are calls, amounting to $716,530.</p>
<h3>Projected Price Targets</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.5 to $12.0 for Iris Energy over the last 3 months. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Iris Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Iris Energy's substantial trades, within a strike price spectrum from $2.5 to $12.0 over the preceding 30 days.</p>
<h3>Iris Energy Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726774345_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.9</td>
<td>$4.7</td>
<td>$4.9</td>
<td>$10.00</td>
<td>$735.1K</td>
<td>25.6K</td>
<td>3.1K</td>
</tr>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.9</td>
<td>$4.7</td>
<td>$4.9</td>
<td>$10.00</td>
<td>$661.9K</td>
<td>25.6K</td>
<td>1.5K</td>
</tr>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$4.2</td>
<td>$3.9</td>
<td>$4.0</td>
<td>$10.00</td>
<td>$461.6K</td>
<td>24</td>
<td>0</td>
</tr>
<tr>
<td>IREN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$2.45</td>
<td>$2.25</td>
<td>$2.25</td>
<td>$10.00</td>
<td>$338.1K</td>
<td>509</td>
<td>1.5K</td>
</tr>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.0</td>
<td>$4.8</td>
<td>$4.8</td>
<td>$10.00</td>
<td>$71.7K</td>
<td>25.6K</td>
<td>174</td>
</tr>
</tbody>
</table>
</p>
<h3>About Iris Energy</h3>
<p>Iris Energy Ltd is a Bitcoin mining company. It builds, owns, and operates data centers and electrical infrastructure for the mining of Bitcoin powered by renewable energy. The company's mining operations generate revenue by earning Bitcoin through a combination of block rewards and transaction fees from the operation of its specialized computers called Application-specific Integrated Circuits and exchanging these Bitcoin for currencies such as USD or CAD on a daily basis.</p>
<p>After a thorough review of the options trading surrounding Iris Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Current Position of Iris Energy</h3>
<ul>
<li>With a trading volume of 11,215,173, the price of IREN is up by 1.94%, reaching $7.87.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 53 days from now.</li>
</ul>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.</p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Iris Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


IREN

What the Options Market Tells Us About Iris Energy

<p>A significant tax incentive is scheduled to expire in 2025, with many wealthy parents rushing to transfer their assets to their children as <a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat">Kamala Harris gains ground in the polls</a> ahead of the 2024 presidential election. This rush, however, has sparked new concerns over the emotional toll of sudden wealth on children – a phenomenon known as &#8220;sudden wealth syndrome.&#8221;</p>
<p><strong>Don't Miss:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/money/are-you-rich"><strong>Are you rich?</strong></a></strong><strong> Here&#8217;s what Americans think you need to be considered wealthy.</strong></li>
<li><strong>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"><strong> </strong><strong>Tax deferring is their number one strategy</strong></a>.</strong></li>
<li><strong>Teens may never need wisdom teeth removed thanks to this MedTech Company –<a href="https://www.benzinga.com/money/triagenics"><strong> </strong><strong>Be an early investor for just $300 for 100 shares!</strong></a></strong></li>
</ul>
<h2 class="wp-block-heading">What's Happening?</h2>
<p>Currently, individuals can transfer up to $13.61 million tax-free to family members, while couples can transfer up to $27.22 million. But this generous tax benefit is set to expire at the end of 2025 and the amount will likely drop by about half. This change prompts ultrawealthy families to act quickly, moving large sums of money to their children before the window closes.</p>
<p>Wealthy parents are under pressure to provide money to their children as soon as possible because <a href="https://www.benzinga.com/news/24/08/40650939/kamala-harris-wants-to-tax-the-ultra-wealthy-with-unrealized-gains-tax-leaving-silicon-valley-unsett">Harris is advocating for more taxes on the wealthy</a>. They are concerned that a Democratic president may implement tax laws that would be less advantageous for them.&nbsp;</p>
<p>But while they&#8217;re focused on protecting their kids&#8217; financial futures, they&#8217;re also concerned about how suddenly receiving so much money could impact their children&#8217;s well-being.</p>
<p><strong>Trending: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv"><strong>IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</strong></a></strong></p>
<h2 class="wp-block-heading">The Risks of Sudden Wealth</h2>
<p>Sudden wealth syndrome is a real challenge for people who suddenly get a lot of money. Children who inherit enormous sums or receive unexpected wealth may experience overwhelming anxiety and uncertainty about what to do with all of their newfound income.</p>
<p><a href="https://www.benzinga.com/money/best-online-financial-advisors">Wealth advisors</a> are encouraging families to consider carefully before making these transfers – not just about the tax savings but also about the impact on their children's mental health and future.</p>
<p><strong>Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"><strong> </strong><strong>re-engineers traditional banking with this new high-yield account — start saving better today.</strong></a></strong></p>
<h2 class="wp-block-heading">What's At Stake?</h2>
<p>According to a report, &#8220;Much is often made in the media of millennial and Generation Z heirs, but Generation X will be first in line to inherit from their wealthy parent(s).&#8221;</p>
<p>It also says that over the next 10 years, about 1.2 million people worth $5 million or more will pass down over $31 trillion. Almost two-thirds will come from the ultrarich, those worth $30 million or more. Ultimately, around $20 trillion will be passed down from just 155,000 of the richest individuals.</p>
<p><a href="https://www.benzinga.com/personal-finance/24/02/37261188/here-are-the-best-10-financial-lessons-to-teach-your-kids">Educating kids about financial responsibility</a> before they inherit a fortune can help them feel more comfortable managing their wealth. Some families are setting up gradual inheritance plans to ensure their kids won't get all the money at once, while others are seeking professional help to guide their kids through this major life change.</p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong>The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"><strong> </strong><strong>Here are three ways to join the club.</strong></a></strong></li>
<li><strong><a href="https://www.benzinga.com/money/charlie-munger-100k"><strong>Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</strong></a></strong></li>
</ul>


Personal Finance

Kids Facing 'Sudden Wealth Syndrome' As Harris' Rise Has Parents Worried, Racing To Transfer Billions To Kids Before A 2025 Benefit Expires

Skechers shares are trading lower after the company discussed near-term China challenges.

<p>An analyst views the launch of ESPN's DTC streaming platform as a mixed bag for <strong>The Walt Disney Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), with both positives and negatives. While potential challenges loom, <a href="https://www.benzinga.com/general/entertainment/24/07/39733479/nba-fans-rejoice-new-76b-deal-from-espn-amazon-nbc-will-bring-games-seven-days-a-week">renewed NBA rights</a> and NCAA football playoffs could help offset future weakness.</p>
<p><strong>The Disney Analyst</strong>: Macquarie analyst Tim Nollen retained a Neutral rating on Disney and lowered the price target from $94 to $91.</p>
<p><strong>Read Also: <a href="https://www.benzinga.com/news/earnings/24/08/40218880/disneys-q3-earnings-revenue-and-eps-beat-streaming-business-turns-profitable-strong-espn-revenue-bo">Disney&#8217;s Q3 Earnings: Revenue And EPS Beat, Streaming Business Turns Profitable, Strong ESPN Revenue Boost</a></strong></p>
<p><strong>The Analyst Takeaways:</strong> With too many moving parts, including the impact of cord cutting, Nollen has rebuilt the model on Disney and sees a near-term downside to earnings.</p>
<p>"For as much change as Disney has been through in the past few years, there is even more change ahead," Nollen said.</p>
<p>In the new investor note, the analyst focuses mainly on sports and streaming, noting that accelerated cord-cutting could come alongside the launch of the ESPN direct-to-consumer platform in August 2025.</p>
<p>"We estimate industry underlying year-over-year sub declines of 8.5% currently could roughly double by 2027. ESPN DTC will likely cause this, and to offset the impact will have to add 14 million subs at a $25 ARPU by FY27, on our calculations."</p>
<p>The key question for the analyst is whether Disney can attract new subscribers to ESPN DTC, or if it will primarily be cord-cutters, shifting from paying affiliate fees for ESPN to the new platform.</p>
<p>Positives for Disney's sports segment include the new National Basketball Association rights deal and the expansion of the NCAA Football playoffs, Nollen said.</p>
<p>Nollen said Disney "appears to have scored a good deal" on the new NBA rights with a 73% increase in average annual price while adding international rights and streaming on the new ESPN DTC platform.</p>
<p>"The roll-on of the new college football playoff expansion this coming Dec 2024-Jan 2025. We estimate this brings in additional $175m of revenue in FY25 and $400m in FY26, with modest operating losses on the new $1.43bn annual contract starting FY27."</p>
<p>"We believe Disney is leading the way amongst media peers in transitioning to streaming, and will be successful over the long run. However, there is a lot of change and uncertainty ahead."</p>
<p><strong>DIS Price Action</strong>: Disney stock is up 1% to $94.52 on Thursday, versus a 52-week trading range of $78.73 to $123.74. Disney shares are up 4% year-to-date in 2024.</p>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40259673/disney-analysts-tackle-theme-park-weakness-streaming-profits-the-upside-in-the-ente">Disney Analysts Tackle Theme Park Weakness, Streaming Profits: &#8216;The Upside In The Entertainment Units More Than Offsets The Parks Miss&#8217;</a></strong></li>
</ul>
<p><em>Photo: Shutterstock</em></p>


Analyst Color

Entertainment

Price Target

Reiteration

Sports

Disney Faces 'More Change Ahead' As ESPN DTC Launch Will Accelerate Cord Cutting: NBA Rights, College Football Offer Upside, Analyst Says

WKSP

Worksport shares are trading higher after the company announced it launched the solis solar array and COR mobile battery power generator.

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Starbucks</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SBUX, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 12 uncommon options trades for Starbucks.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 25% bullish and 58%, bearish.</p>
<p>Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,220,455, and 4 are calls, for a total amount of $129,405.</p>
<h3>What's The Price Target?</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $100.0 for Starbucks over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In terms of liquidity and interest, the mean open interest for Starbucks options trades today is 2475.5 with a total volume of 3,699.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Starbucks's big money trades within a strike price range of $90.0 to $100.0 over the last 30 days.</p>
<h3>Starbucks Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726773893_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$6.7</td>
<td>$6.45</td>
<td>$6.46</td>
<td>$95.00</td>
<td>$969.0K</td>
<td>310</td>
<td>0</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$3.4</td>
<td>$3.35</td>
<td>$3.36</td>
<td>$95.00</td>
<td>$65.4K</td>
<td>5.3K</td>
<td>207</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$8.8</td>
<td>$8.7</td>
<td>$8.8</td>
<td>$90.00</td>
<td>$40.4K</td>
<td>4.9K</td>
<td>54</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$13.25</td>
<td>$13.15</td>
<td>$13.15</td>
<td>$95.00</td>
<td>$36.8K</td>
<td>41</td>
<td>0</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$6.6</td>
<td>$6.55</td>
<td>$6.56</td>
<td>$95.00</td>
<td>$35.3K</td>
<td>310</td>
<td>1.9K</td>
</tr>
</tbody>
</table>
</p>
<h3>About Starbucks</h3>
<p>Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.</p>
<h3>Current Position of Starbucks</h3>
<ul>
<li>With a trading volume of 5,944,905, the price of SBUX is up by 0.81%, reaching $96.9.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 42 days from now.</li>
</ul>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.</p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Starbucks options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


SBUX

Smart Money Is Betting Big In SBUX Options

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Abercrombie &amp; Fitch</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ANF, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for Abercrombie &amp; Fitch.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.</p>
<p>Out of all of the special options we uncovered, 4 are puts, for a total amount of $135,154, and 4 are calls, for a total amount of $245,978.</p>
<h3>Projected Price Targets</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $130.0 to $170.0 for Abercrombie &amp; Fitch over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Abercrombie &amp; Fitch's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Abercrombie &amp; Fitch's whale trades within a strike price range from $130.0 to $170.0 in the last 30 days. </p>
<h3>Abercrombie &amp; Fitch 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726773888_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$9.9</td>
<td>$9.9</td>
<td>$9.9</td>
<td>$140.00</td>
<td>$105.0K</td>
<td>623</td>
<td style="text-align: right;">151</td>
</tr>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$8.8</td>
<td>$8.5</td>
<td>$8.6</td>
<td>$145.00</td>
<td>$66.2K</td>
<td>1.0K</td>
<td style="text-align: right;">189</td>
</tr>
<tr>
<td>ANF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$10.0</td>
<td>$9.7</td>
<td>$10.0</td>
<td>$140.00</td>
<td>$43.0K</td>
<td>623</td>
<td style="text-align: right;">66</td>
</tr>
<tr>
<td>ANF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$130.00</td>
<td>$39.2K</td>
<td>1.4K</td>
<td style="text-align: right;">112</td>
</tr>
<tr>
<td>ANF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$31.5</td>
<td>$28.2</td>
<td>$30.09</td>
<td>$170.00</td>
<td>$37.2K</td>
<td>13</td>
<td style="text-align: right;">13</td>
</tr>
</tbody>
</table>
</p>
<h3>About Abercrombie &amp; Fitch</h3>
<p>Abercrombie &amp; Fitch Co is a specialty retailer that sells casual clothing, personal-care products, and accessories for men, women, and children. It sells direct to consumers through its stores and websites, which include the Abercrombie &amp; Fitch, Abercrombie kids, and Hollister brands. Most stores are in the United States, but the company does have many stores in Canada, Europe, and Asia. All stores are leased. Abercrombie ships to well over 100 countries via its websites. The company sources its merchandise from dozens of vendors that are primarily located in Asia and Central America. Abercrombie has two distribution centers in Ohio to support its North American operations. It uses third-party distributors for sales in Europe and Asia.</p>
<p>After a thorough review of the options trading surrounding Abercrombie &amp; Fitch, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Where Is Abercrombie &amp; Fitch Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 805,936, the ANF's price is up by 3.36%, now at $140.0. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 61 days.</li>
</ul>
<h3>What The Experts Say On Abercrombie &amp; Fitch</h3>
<p>In the last month, 5 experts released ratings on this stock with an average target price of $186.0.</p>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from Jefferies has decided to maintain their Buy rating on Abercrombie &amp; Fitch, which currently sits at a price target of $220.<br />
&#x2A; An analyst from Telsey Advisory Group persists with their Outperform rating on Abercrombie &amp; Fitch, maintaining a target price of $190.<br />
&#x2A; Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Abercrombie &amp; Fitch with a target price of $208.<br />
&#x2A; An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Abercrombie &amp; Fitch, which currently sits at a price target of $147.<br />
&#x2A; An analyst from UBS persists with their Neutral rating on Abercrombie &amp; Fitch, maintaining a target price of $165. </p>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Abercrombie &amp; Fitch, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Smart Money Is Betting Big In ANF Options

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The world of special purpose acquisition corporation (SPAC) mergers is about to heat up in a big way. <strong>Digital World Acquisition Corp. </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/dwac-stock-quote/"><strong>DWAC</strong></a>) is now set to officially merge with <strong>Trump Media &amp; Technology Group</strong> (TMTG) after a <a href="https://www.cnbc.com/2024/03/25/truth-social-owner-trump-media-will-begin-trading-under-djt-ticker-tuesday.html">regulatory filing</a> showed the merger had the necessary votes to proceed. Shares of DWAC stock surged more than 30% in early afternoon trading on this news. </p>



<p>Shares of TMTG, the parent company of former president Trump&rsquo;s Truth Social platform, will begin trading tomorrow under the ticker &ldquo;DJT&rdquo; on the <strong>Nasdaq Exchange</strong>. A recent filing shows that the merger has been officially completed. Today&rsquo;s move is allowing the stock to make up previous losses following Friday&rsquo;s news that the merger had been approved.</p>



<p>Let&rsquo;s dive into what investors may want to make of this announcement today.</p>



<h2>DWAC Stock: Trump Could Get a Big Boost From This Merger</h2>



<p>A significant amount of attention has been paid to the <a href="https://www.bbc.com/news/world-us-canada-61084161">legal troubles</a> that have followed the former president since leaving office nearly four years ago. However, he could stand to reap a major windfall if this merger goes through at its current valuation. His 58% stake in the company could be worth more than $3 billion if tomorrow&rsquo;s launch goes as expected.</p>



<p>Now, Trump will have his shares locked up for a period of six months. This may make cashing out shares difficult (but <a href="https://www.npr.org/2024/03/22/1240116446/trump-truth-social-dwac-stock-listing-legal-troubles">not potentially impossible</a>) to do. This will have many investors watching closely to see how or when he chooses to unload his position and what percentage of the company he will retain.</p>



<p>Truth Social has been touted as a <a href="https://www.cnbc.com/2024/03/25/truth-social-owner-trump-media-will-begin-trading-under-djt-ticker-tuesday.html">platform</a> looking to &ldquo;reclaim the Internet from Big Tech censors,&rdquo; though previous stumbles have some investors concerned as to the underlying fundamentals of this business model long-term. </p>



<p>I have no idea which way this stock will trend over the course of the coming trading days or weeks. However, I am fairly certain we will see significant volatility with this launch. Thus, I&rsquo;ll be watching this merger happily from the sidelines, but it should make for an interesting week, to be sure.</p>



<p><em>On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;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/">Publishing Guidelines</a>.</em></p>
<div><p>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</p></div><h3>More From InvestorPlace</h3>
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	<p>The post <a href="https://investorplace.com/2024/03/dear-dwac-stock-fans-truth-social-will-start-trading-tomorrow-as-djt-stock/">Dear DWAC Stock Fans, Truth Social Will Start Trading Tomorrow as DJT Stock</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Dear DWAC Stock Fans, Truth Social Will Start Trading Tomorrow as DJT Stock

The day has come, the Digital World Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWAC#NASDAQ">DWAC</a>) has successfully merged with Trump Media, and investors are over the moon. Suffi...

Digital World Acquisition Corp (NASDAQ:DWAC) Blasts Up on Merger Success

DWAC Soars As Trump Media Deal Closes

Looking at the charts, after Friday's selloff and failure of the 50-daily moving average, today the price handily cleared back over it.

DWAC Begins Trading Under DJT

While monetary conditions are hardly as loose right now, it is nonetheless apparent that we have been in a market that has been driven by momentum.

Meme Stocks: The Sequel

It was the first official day of trading for Truth Social, now trading on the NASDAQ exchange under the ticker symbol DJT. And if the trading for T...

Truth Social (NASDAQ:DJT) Goes Live, Share Prices Soar

The first day out for DJT was a smashing success, although I'd quietly point out that when DWAC was trading back in October 2021, it was substantially higher. All the same, this has been a very powerful stock for months.

Make Tickers Great Again

Despite being the most heavily shorted SPAC in the U.S., Trump Media & Technology Group, behind the Truth Social platform, has seen its stock surge.

Trump Media & Technology Group Faces $168.6 M In Short Interest, Refuses To Back Down

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Former president Donald Trump&rsquo;s social media platform <strong>Truth Social</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/djt-stock-quote/"><strong>DJT</strong></a>) gained significant attention last week. However, other <a href="https://www.forbes.com/sites/dereksaul/2024/03/26/not-just-trump-media-these-social-media-stocks-are-also-red-hot/">social </a><a href="https://investorplace.com/industries/communications/media/">media stocks</a> saw price increases, too. There is debate whether the broader rise in <a href="https://investorplace.com/industries/communications/media/social-media/">social media stocks</a> boosted Truth Social or if the focus on the new microblogging site drove greater interest. Recently listed <strong>Reddit </strong>(NYSE<strong>:</strong><a href="https://investorplace.com/stock-quotes/rddt-stock-quote/"><strong>RDDT</strong></a>) also experienced gains and has continued moving higher with peers.<br><br>The increased focus raises a logical question &mdash; whether an investment opportunity exists within social media stocks. Truth Social and Reddit may experience more volatile performance as newcomers before releasing initial earnings reports. In the interim, several social media stocks that have been publicly traded for longer could offer opportunities.<br><br>Ongoing legislative considerations regarding a potential ban on TikTok are adding complexity to the social media landscape. U.S. regulators have requested it divest from its parent company, ByteDance. Extensive speculation surrounds possible outcomes: which social media company may <a href="https://www.reuters.com/technology/us-house-vote-force-bytedance-divest-tiktok-or-face-ban-2024-03-13/">benefit from users</a> should the app be prohibited, who would acquire TikTok, and whether it would be another <a href="https://edition.cnn.com/2024/03/14/tech/buyer-tiktok-for-sale-bytedance/index.html">industry competitor if divested</a>.&#8203;</p>



<h2><strong>Meta Platforms (META)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-300x169.png" alt="In this photo illustration the Meta logo seen displayed on a smartphone and in the background the Facebook logo"><div>Source: rafapress / Shutterstock.com</div></div><p><strong>Meta Platforms </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/"><strong>META</strong></a>) is the first pick in the social media stocks shuffle. It is the largest publicly traded social media company, with a market capitalization exceeding $1 trillion. News outlets have recently highlighted the company as one of the so-called &ldquo;Magnificent Seven&rdquo; stocks and for its advancements in artificial intelligence (<a href="https://investorplace.com/stock-quotes/ai-stock-quote/"><strong>AI</strong></a>). <a href="https://www.ey.com/en_us/metaverse/navigating-beyond-the-hype-the-metaverse-take-two">Growing interest in the metaverse</a> provides additional context for the company&rsquo;s long-term prospects.</p>



<p>Meta also owns Instagram, which is TikTok&rsquo;s direct competitor. It will likely benefit the most if the Chinese-owned video-sharing app is excluded from the United States market. TikTok generated an estimated<a href="https://www.reuters.com/technology/tiktoks-us-revenue-hits-16-bln-washington-threatens-ban-ft-reports-2024-03-15/"> $16 billion in revenue</a> in the U.S. last year. A ban on TikTok could divert billions in revenues towards META. Even if a ban does not occur, ongoing developments surrounding TikTok could enable META to increase its market share.&#8203;</p>



<h2><strong>Pinterest (PINS)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pins-1600-2-300x169.png" alt="Hand holding Apple Iphone6 gold color with Pinterest app on the screen. In the background, a laptop is open to Pinterest. PINS stock."><div>Source: photobyphotoboy / Shutterstock</div></div><p><strong>Pinterest </strong>(NYSE:<a href="https://investorplace.com/stock-quotes/pins-stock-quote/"><strong>PINS</strong></a>), the image-sharing and social media platform, saw its stock price increase last week. However, shares remain in negative territory year to date (YTD). Last year, Pinterest<a href="https://investor.pinterestinc.com/press-releases/press-releases-details/2024/Pinterest-Announces-Fourth-Quarter-and-Full-Year-2023-Results-Delivers-Record-High-Users-and-Robust-Margin-Expansion/default.aspx"> increased its user base by 11%</a>. Additionally, the company substantially reduced losses through cost-reduction initiatives. Its average revenue per user (ARPU), a key performance indicator, rose 1.2%, demonstrating its ability to maintain monetization.</p>



<p>Analysts believe the company is well-positioned to strengthen its financial performance. Consensus price target for the second pick in the social media stocks sits at an average of $43.15. This represents a potential <a href="https://finance.yahoo.com/quote/PINS?.tsrc=fin-srch">upside of nearly 30%</a> from current levels. With $2.5 billion in cash reserves, Pinterest has strong liquidity to continue executing its strategic priorities. The market expects the social media platform to return to profitability by the close of the current year.</p>



<h2><strong>Rumble (RUM)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/rum1600-2-300x169.png" alt="In this photo illustration, a woman holds a smartphone with the Rumble logo displayed on the screen. RUM stock"><div>Source: rafapress / Shutterstock.com</div></div><p><strong>Rumble</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/rum-stock-quote/"><strong>RUM</strong></a>), a video hosting company seeking to compete with <strong>Alphabet&rsquo;s </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/"><strong>GOOG</strong></a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/"><strong>GOOGL</strong></a>) YouTube platform, has often been overlooked within the sector. However, the social media stock price <a href="https://s3.amazonaws.com/b2icontent.irpass.cc/2730/rl132667.pdf">has trended higher</a> throughout 2024, even as losses widened due to rising hosting costs and content investment to attract viewers. Investors appeared reassured by Rumble&rsquo;s $218.3 million cash position despite $29 million in negative profits.</p>



<p>Rumble is one of those social media stocks that have climbed already higher. It follows <a href="https://www.fool.com/investing/2024/03/30/why-rumble-stock-is-up-big-this-week/">explosive gains</a> in DJT after its special-purpose acquisition company (SPAC) merger with <strong>Digital World Acquisition </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/dwac-stock-quote/"><strong>DWAC</strong></a>) and subsequent <strong>Nasdaq </strong>listing. Additionally, the company gained notable attention from reports that it may have participated in <a href="https://www.investopedia.com/steve-mnuchin-is-among-buyers-interested-in-tiktok-can-it-be-sold-8609010">acquiring TikTok</a>. While not the sole bidder, it could share benefits from involvement in a consortium to assume management of TikTok.</p>



<p><em>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 </em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em></a>.</p>
<div><p>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.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/three-stocks-to-watch-in-truth-socials-wake/">The Social Media Shuffle: 3 Stocks to Watch in Truth Social&#8217;s Wake</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The Social Media Shuffle: 3 Stocks to Watch in Truth Social's Wake

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>In this article, we delve into the world of <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> and explore the insights provided by cutting-edge AI algorithms. These advanced systems have analyzed market trends, and company fundamentals, to identify seven meme stocks to sell according to AI.</p>



<p>As we examine each of these seven meme stocks, we will discuss the factors that led the AI to its conclusions, providing a look at the potential risks and drawbacks associated with these investments.&nbsp;</p>



<p>It should be noted that these conclusions should be taken with a large pinch of salt, as the direction of meme stocks are often influenced by investor psychology that AI can&rsquo;t fully contextualize or process fully.</p>



<p>Still, it might be worth looking into these meme stocks to sell according to AI to get an objective perspective that&rsquo;s not influenced by the emotions of greed and fear. For this article, I&rsquo;ve used both the newest models of ChatGPT and Claude to find and process analysis of these meme stocks.<br><br>So here are seven meme stocks to sell according to AI.</p>



<h2>AMC Entertainment (AMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/amc1600-8-300x169.png" alt="Person holding cellphone with website of US company AMC Entertainment Holdings Inc. on screen in front of logo. AMC stock"><div>Source: T. Schneider / Shutterstock.com</div></div><p><strong>AMC Entertainment</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/"><strong>AMC</strong></a>) was identified as one of those meme stocks to sell. ChatGPT said: &ldquo;AMC has struggled significantly post-pandemic, with a dramatic decrease in share value due to declining theater attendance and significant debt. Despite attempts to revitalize with new movie releases, the company continues to face financial challenges and high shareholder dilution.&rdquo;</p>



<p>ChatGPT also stated that: &ldquo;AMC is consistently unprofitable, carrying a significant amount of debt, which has raised concerns about its long-term viability. The company has been described as &ldquo;<a href="https://www.benzinga.com/markets/equities/24/05/38876672/amc-entertainment-a-dead-company-walking-says-bear-cave-report">a dead company walking</a>&rdquo; due to its heavy debt load and ongoing financial losses. Despite efforts to raise capital through stock sales, the dilution of shares has negatively impacted shareholder value. AMC&rsquo;s shares outstanding have increased dramatically from 12 million in January 2020 to over 250 million today&#8203;.&rdquo;</p>



<p>This could be a valid point since the brand&rsquo;s shares outstanding have swelled over 91% year-over-year, and it is also struggling with liquidity issues thanks to its&nbsp;$8.99 billion in debt.</p>



<h2>Carvana (CVNA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/shutterstock_1496985935-min-300x169.jpg" alt="Carvana (CVNA stock) logo on white object in foreground as well as a high-rise building in the background"><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p><strong>Carvana</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/cvna-stock-quote/"><strong>CVNA</strong></a>) was another meme stock that AI thinks that investors should sell. It said: &ldquo;Carvana experienced a massive short squeeze in 2023 but remains heavily shorted due to concerns about its high valuation and leveraged balance sheet. The online used car retailer&rsquo;s fundamentals do not support its current stock price, making it a risky investment.&rdquo;</p>



<p>It also noted that: &ldquo;Despite recent improvements, Carvana is <a href="https://investorplace.com/market360/2023/08/carvana-stock-analysis-is-it-time-to-hit-the-brakes-or-hang-tight/">still projected to experience net losses</a> in 2024 and 2025. This ongoing financial strain raises questions about the company&rsquo;s ability to achieve profitability. The sell-side forecasts do not support a near-term turnaround, adding credence to the bearish outlook.&rdquo;</p>



<p>Like with AMC, CVNA&rsquo;s shares outstanding also grew at what I consider an unsustainably fast rate, climbing over 100% year-over-year at the time of writing. This somewhat blunts its share price rally over the same period of 135.38%, which is a grave warning sign.</p>



<h2>Digital World Acquisition (DWAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/dwac1600-300x169.png" alt="In this photo illustration, the Truth Social logo seen displayed on a smartphone with a photo of former US President Donald Trump displayed in the background. DJT stock"><div>Source: rafapress / Shutterstock.com</div></div><p><strong>Digital World Acquisition</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/dwac-stock-quote/"><strong>DWAC</strong></a>) is the next on the chopping block, according to AI. It said: &ldquo;DWAC, the SPAC aiming to merge with <strong>Trump Media</strong> <strong>&amp; Technology Group</strong>, has seen stock volatility linked to political events. However, the stock faces challenges with regulatory delays and uncertain business prospects, making it vulnerable to significant declines&rdquo;</p>



<p>&ldquo;There are <a href="https://investorplace.com/2024/01/the-big-short-of-2024-7-meme-stocks-to-bet-against/">considerable uncertainties</a> about TMTG&rsquo;s business prospects. Despite the speculative interest driven by Trump&rsquo;s media presence, the actual performance and profitability of TMTG&rsquo;s platforms like <strong>Truth Social</strong> remain questionable. Investors are concerned about the platform&rsquo;s ability to compete with established social media giants and generate sustainable revenue,&rdquo; Claude continued.</p>



<p>DWAC could be the ultimate vehicle for betting for (or against) Donald Trump&rsquo;s presidency, and I envision that it will note record volatility in the weeks and months leading up to the election.</p>



<p>Its value then is tied to an event not explicitly tied to its main operating segments, which gives it a more speculative layer that other meme stocks lack, without a proportionate upside.</p>



<h2>Hut 8 (HUT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/hut1600-300x169.png" alt="In this photo illustration the Hut 8 Mining logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div><p><strong>Hut 8</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/hut-stock-quote/"><strong>HUT</strong></a>) is a <strong>Bitcoin </strong>(<a href="https://investorplace.com/cryptocurrency/btc-usd/"><strong>BTC-USD</strong></a>) mining company that has found itself on AI&rsquo;s radar as one of those meme stocks to sell. It said &ldquo;Hut 8, a Bitcoin mining company, has faced scrutiny and allegations from short-sellers. With the recent decline in cryptocurrency prices and ongoing controversies, Hut 8&rsquo;s stock faces substantial downside risks.&rdquo;</p>



<p>&ldquo;Hut 8 recently <a href="https://investorplace.com/earning-results/2024/05/hut-stock-earnings-hut-8-mining-for-q1-of-2024/">reported disappointing financial results</a> for the first quarter of 2024, missing both earnings per share (<a href="https://investorplace.com/stock-quotes/eps-stock-quote/"><strong>EPS</strong></a>) and revenue estimates. The company posted an EPS of -17 cents, significantly below analyst expectations of 59 cents, and reported revenue of $51.74 million, which was 20.48% lower than the projected $65.07 million&#8203;&#8203;. This poor financial performance highlights ongoing challenges in achieving profitability.&rdquo;</p>



<p>Despite these short-term weaknesses, my view is that the Bitcoin miners that will still be around in a decade from now will be those who can <a href="https://blockworks.co/news/hut-8-mining-ceo-strategy">leverage scale effectively</a> to reduce costs. Smaller miners like HUT are focusing on improving efficiency, which puts it at odds with this thesis.</p>



<p>As Bitcoin&rsquo;s block rewards continue to halve, and input costs rise, miners are making a large bet that Bitcoin will continue to appreciate in value in order for their efforts to be worth it, along with increased efficiency of their mining rigs. Smaller firms may not be able to comfortably shoulder these risks as the <a href="https://crypto.ro/en/news/mining-centralization-poses-risks-to-bitcoin-yet-optimism-remains/#:~:text=Now%2C%20Bitcoin%20mining%20pools%20have,hashing%20power%20back%20in%20February.">centralization of the hash rate</a> continues.</p>



<h2>Virgin Galactic (SPCE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/spce-1600-300x169.jpg" alt="spce stock"><div>Source: rafapress / Shutterstock.com</div></div><p>Some players in the space industry are also not to AI&rsquo;s liking, with <strong>Virgin Galactic</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/spce-stock-quote/"><strong>SPCE</strong></a>) being noted as one of those meme stocks to sell.</p>



<p>&ldquo;Virgin Galactic&rsquo;s commercial space flights have generated minimal revenue, and the company is rapidly burning through its cash reserves. With <a href="https://investors.virgingalactic.com/news/news-details/2024/Virgin-Galactic-Announces-First-Quarter-2024-Financial-Results-and-Provides-Business-Update/default.aspx">low revenue generation</a> and high cash burn, the company may run out of funds, posing a high risk for investors.&rdquo;</p>



<p>It also notes that &ldquo;In a strategic shift, Virgin Galactic <a href="https://spacenews.com/virgin-galactic-to-halt-unity-suborbital-flights-by-mid-2024/">plans to halt flights</a> of its current suborbital vehicle, VSS Unity, by mid-2024 to focus resources on developing its next-generation Delta-class vehicles. This decision will reduce the frequency of flights, further limiting revenue in the short term. The company aims to redirect resources to ensure the Delta-class vehicles are operational by 2026, but this pivot involves substantial execution risk&rdquo;.</p>



<p>SPCE has taken a hit ever since its main insider, Richard Branson, said he would <a href="https://www.fool.com/investing/2023/12/23/no-more-cash-from-richard-branson-is-this-the-end/#:~:text=Virgin%20Galactic%20founder%20Richard%20Branson,is%20set%20for%20January%202024.">no longer invest money into the company</a>, stating that it &ldquo;should have sufficient funds to do its job on its own,&rdquo; citing its $1 billion balance sheet at the time he made that statement.</p>



<p>This may be seen as a prudent risk management strategy or a cause for alarm, but in either case it may reinforce the bear case to sell it as a meme stock.</p>



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/12/muln1600-4-300x169.png" alt="Mullen Automotive offers superior, technologically advanced electric vehicles. Their premium quality EVs pioneer a sustainable, eco-friendly future. MULN stock"><div>Source: MacroEcon / Shutterstock.com</div></div><p><strong>Mullen Automotive </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/"><strong>MULN</strong></a>) is one of those contentious meme stocks and AI has caught wind of this. It said &ldquo;Mullen Automotive <a href="https://markets.businessinsider.com/news/stocks/mullen-reports-q2-2024-fiscal-quarter-results-1033378277">reported significant losses</a> and low revenue from its electric vehicle sales. The company&rsquo;s financials are weak, with substantial cash burn and limited orders, making it a risky investment in the highly competitive EV market&rdquo;.</p>



<p>&ldquo;Recent partnerships and joint ventures announced by Mullen, such as with <strong>Global EV Technology</strong> and <strong>EV Technologies</strong>, <a href="https://investorplace.com/market360/2023/04/the-bear-case-for-muln-stock/">have not significantly improved investor confidence</a>. The lack of detailed financial information regarding these ventures adds to the uncertainty about their potential positive impact on Mullen&rsquo;s business&rdquo;.<br><br>Something that AI missed is that MULN&rsquo;s <a href="https://ycharts.com/companies/MULN/shares_outstanding">shares outstanding increased 7,358.46%</a> year-over-year, which would have diluted the ownership of existing investors to almost nothing. Recovering from that loss would require an astronomical return.</p>



<p>If this share dilution continues, there may be no point in investing in MULN, despite the promises of high capital gains.</p>



<h2>Plug Power (PLUG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/plug1600-8-300x169.png" alt="Person holding cellphone with logo of US hydrogen fuel cell company Plug Power Inc. in front of business webpage. Focus on phone display. Unmodified photo. PLUG stock"><div>Source: T. Schneider / Shutterstock.com</div></div><p><strong>Plug Power</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/plug-stock-quote/"><strong>PLUG</strong></a>), another contentious pick, is the last meme stock that AI has identified outright as a company to sell.</p>



<p>&ldquo;Plug Power, involved in hydrogen energy, has seen fluctuating stock prices due to market downturns and <a href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Announces-First-Quarter-2024-Financial-Results/default.aspx">weak financial results</a>. Concerns about its ability to finance future projects and continued shareholder dilution pose risks to its stock value.&rdquo;</p>



<p>&ldquo;Despite having cash and cash equivalents totaling $172.9 million, Plug Power&rsquo;s ongoing operations and investments result in significant cash outflows. This high cash burn rate necessitates continuous capital raising, which could dilute shareholder value&#8203;&rdquo;.</p>



<p>PLUG is certainly a polarizing name in the hydrogen industry. It has recently shook off fears that it will ot remain a going concern, but its high rate of cash burn remains an issue in a speculative industry.</p>



<p>The meme stock is more risky than many of the names listed here, as it is flirting with bankruptcy more closely, and thus should be invested in only by those with an extreme risk tolerance.<br></p>



<p><em>On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> </em>InvestorPlace.com Publishing Guidelines</a>.</p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/05/rejected-by-robots-ai-thinks-you-should-sell-these-7-meme-stocks-now/">Rejected by Robots: AI Thinks You Should Sell These 7 Meme Stocks Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Rejected by Robots: AI Thinks You Should Sell These 7 Meme Stocks Now

CVNA

GOOG

GOOGL

MSTR

MULN

NVDA

PINS

PLUG

RDDT

SPCE

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