Eloxx Pharmaceuticals Stock (OTC:ELOX), Trade Ideas

Eloxx Pharmaceuticals

Eloxx Pharmaceuticals Inc is a clinical-stage biopharmaceutical company engaged in the science of ribosome modulation, leveraging both its ZM chemistry technology platform and its library of novel aminoglycosides to develop novel oral small molecule Ribosome Modulating Agents (RMAs) and Eukaryotic Ribosome Selective Glycosides (ERSGs), for the treatment of rare and ultra-rare genetic diseases where patients have point nonsense genetic mutations that result in premature stop codons and less than full-length proteins. The ELX-02, the company's investigational drug product candidate, is a small molecule designed to restore the production of full-length functional proteins.

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ELOXX PHARMACEUTICALS INC by Eloxx Pharmaceuticals, Inc.

Eloxx Pharmaceuticals Inc

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>
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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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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.

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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>

Analyst Color

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

Cryptocurrency

$SHIB

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>
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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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

OpenAI has skipped its biggest investor, Microsoft Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows 11, instead launching the ChatGPT app for Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) macOS operating system while <a href="https://www.benzinga.com/news/24/05/38806086/openai-tries-to-steal-googles-thunder-a-day-before-search-giants-event-unveils-gpt-4o-a-chatgpt-vers">unveiling the new GPT-4o model</a>.
What Happened: OpenAI&#8217;s CTO Mira Murati announced the launch of the ChatGPT desktop app during an event on Monday.
Microsoft is OpenAI's <a href="https://www.benzinga.com/news/24/05/38582364/microsofts-fear-of-googles-ai-dominance-led-to-openai-investment-internal-email-reveals-were-multipl">single biggest stakeholder</a>, having invested over $13 billion so far. Despite this, OpenAI's new ChatGPT app for computers has landed on Apple's Macs first. The Windows version is expected to be launched later this year, but OpenAI has not given an exact timeline just yet.
The app features a refreshed user interface and allows users to ask ChatGPT questions about their screen content, either by typing or speaking. The AI then provides responses based on the visual input.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Users can access the ChatGPT app using the Option + Space keyboard shortcut and can also take and discuss screenshots within the app.
The app will initially be available only to ChatGPT Plus users, with a broader rollout planned in the coming weeks.
See Also: <a 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">Sam Altman Received OpenAI Dismissal News While He Was In Vegas Hotel Room During F1 Grand Prix</a>
OpenAI has also introduced a new UI for ChatGPT, which includes minor changes to the home screen and message layout. The company aims to enhance the user experience, making interactions with ChatGPT more natural and intuitive.
Alongside the new app and UI, OpenAI has also unveiled its new GTP-4o model, which is available to all users for free.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14033945/ChatGPT-app-1024x576.jpg" alt="ChatGPT app" class="wp-image-336463" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14033945/ChatGPT-app-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14033945/ChatGPT-app-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14033945/ChatGPT-app-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14033945/ChatGPT-app-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14033945/ChatGPT-app.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">ChatGPT app &#x7C; Photo courtesy: OpenAI</figcaption></figure>
Why It Matters: The launch of the ChatGPT desktop app comes on the heels of OpenAI&#8217;s introduction of a more efficient and cost-effective version of its AI model, GPT-4, called GPT-4o.
This new model is trained on extensive internet data and is designed to handle text, audio, and images in real time more effectively.
GPT-4o also offers features that were <a href="https://www.benzinga.com/news/24/05/38806863/openais-free-model-may-pose-a-challenge-to-its-growth-says-analyst-pierre-ferragu-where-is-the-s-cur">previously limited to paid subscribers</a>, including web searches, multilingual responses, and data storage.
OpenAI&#8217;s recent developments have <a href="https://www.benzinga.com/news/24/05/38806462/googles-search-business-could-be-challenged-by-openai-says-gene-munster-its-a-function-of-time">sparked discussions</a> about the company&#8217;s potential to challenge Alphabet Inc.&#8217;s crown jewel, Google Search, as noted by tech analyst Gene Munster.
However, not everyone is convinced of OpenAI&#8217;s capabilities. Tesla Inc. CEO and xAI founder Elon Musk expressed skepticism about OpenAI&#8217;s latest AI model development.
Following the unveiling of GPT-4o, Musk <a 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">shrugged off the announcement</a>, suggesting that the AI&#8217;s capabilities were not as significant as claimed.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38695318/from-beginner-to-enthusiast-top-5-free-harvard-courses-to-spark-your-ai-journey-with-machine-learnin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">From Beginner To Enthusiast: Top 5 Free Harvard Courses To Spark Your AI Journey With Machine Learning</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.
Image Credits &#8211; Shutterstock

Despite Microsoft's $13B Funding, OpenAI Snubs Top Investor: Launches ChatGPT App For Apple Macs Ahead Of Windows

Kodiak Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOD#NASDAQ">KOD</a>), a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat a broad spectrum of retinal diseases, announced today that the first patients with diabetic retinopathy (DR) have been treated in the randomized double masked Phase 3 GLOW2 study of tarcocimab tedromer.
GLOW2 is the second Phase 3 study of tarcocimab in diabetic retinopathy in which all patients on investigational therapy will receive tarcocimab on extended dosing intervals, including 6-month dosing for all patients. The GLOW2 study design mirrors the successful GLOW1 study in which tarcocimab-treated patients, over the 48-week study duration, saw 29-fold increased response rate in &ge; 2-step improvement in DRSS (treatment) and&nbsp;89%&nbsp;decreased risk of developing sight-threatening complications (prevention).

Reported Earlier, Kodiak Sciences Announced Treatment Of First Patients In Phase 3 GLOW2 Study Of Tarcocimab Tedromer In Diabetic Retinopathy

The largest cryptocurrency exchange in the U.S., Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) recovered from a three-hour-long system-wide glitch past midnight, causing a brief bout of anxiety for its customers.
What Happened: In an X post past midnight on Tuesday, the exchange informed about the glitch, saying, "We are investigating this issue and working on a solution." 
The trading platform assured its users that their funds were safe.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see <a href="https://t.co/a3pl4WiDhZ">https://t.co/a3pl4WiDhZ</a> for updates. Your funds are safe.
&mdash; Coinbase Support (@CoinbaseSupport) <a href="https://twitter.com/CoinbaseSupport/status/1790239326321733819?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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A few customers shared screenshots from the Coinbase App, displaying a &#8220;Planned maintenance in progress&#8221; message, prompting them to question the platform about the real nature of the outage.&nbsp;
At 3:34 a.m. EDT, the company informed that the incident had been completely resolved. However, it added a caveat that some customers might still face transaction failures while sending funds.
Coinbase's official <a href="https://www.coinbase.com/explore">website</a> was accessible at the time of writing. 
Why It Matters:  Coinbase is the largest crypto trading platform in the U.S., with volumes reaching upwards of $2 billion in the last 24 hours, according to <a href="https://www.coingecko.com/en/exchanges">CoinGecko</a>. The platform allows the trading of popular coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>).
Since the<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38699358/ftx-to-pay-back-customers-in-full-with-interest-as-it-amasses-billions-in-cash-this-is-jus"> implosion of the FTX exchange</a> in the fall of 2022, users accessing centralized exchanges have become circumspect regarding the safety of their funds, and even minor outages have led to FUD.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38807524/the-dencun-dilemma-can-lower-fees-derail-ethereums-deflationary-ambitions-and-dampen-prosp">The Dencun Dilemma: Can Lower Fees Derail Ethereum&#8217;s Deflationary Ambitions And Dampen Prospects Of A Price Surge?</a>
Photo by rafapress on Shutterstock

$BTC

$ETH

$SOL

COIN

Crypto Exchange Coinbase Assures 'Funds Are Safe' After 3-Hour Outage Creates Brief Panic

The closing of the private placement offering is expected to occur on or about May 28, 2024, subject to the satisfaction of customary closing conditions.
The Notes will bear interest at a rate of&nbsp;5.800%, payable semiannually, in cash in arrears, on June 15 and December 15 of each year, commencing on December 15, 2024. The Notes will mature on June 15, 2031.

BERY

Reported Earlier, Berry Global Group Prices Private Placement Of First Priority Senior Secured Notes Valued At $800M

The Company is currently evaluating the letter and determining its response, with more information to follow in the next few days.

HLTH

Reported Earlier, FDA Issues Warning To Cue Health Over Emergency Use Authorized (EUA) COVID-19 Test

PAVmed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAVM#NASDAQ">PAVM</a>) reported quarterly losses of $(0.99) per share which beat the analyst consensus estimate of $(1.67) by 40.72 percent. This is a 42.77 percent increase over losses of $(1.73) per share from the same period last year. The company reported quarterly sales of $1.010 million which missed the analyst consensus estimate of $1.053 million by 4.06 percent. This is a 126.46 percent increase over sales of $446.000 thousand the same period last year.

Earnings Beats

Earnings Misses

PAVM

Reported Late Monday, PAVmed Q1 2024 Adj EPS $(0.99) Beats $(1.67) Estimate, Sales $1.010M Miss $1.053M Estimate

Antony Blinken, U.S. Secretary of State, arrived in Kyiv on Tuesday, marking the first visit by a senior U.S. official since the approval of a $61 billion military aid package for Ukraine by Congress last month.
What Happened: Blinken&#8217;s unannounced trip is aimed at demonstrating U.S. solidarity with Ukraine, which is currently grappling with heavy Russian attacks on its northeastern border, Reuters reported. The Secretary of State arrived in Kyiv early Tuesday morning by train.
A U.S. official, who chose to remain anonymous, stated that Blinken&#8217;s visit is intended to &#8220;send a strong signal of reassurance to the Ukrainians who are obviously in a very difficult moment.&#8221; 
The official further explained that Blinken&#8217;s mission is to discuss the execution of the supplemental assistance to help bolster Ukraine&#8217;s defenses and enable them to regain the initiative on the battlefield.
See Also: <a href="https://www.benzinga.com/news/24/05/38776647/elon-musk-berates-gavin-newsom-after-california-governor-discloses-plans-to-cut-10-000-vacant-state?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Berates Gavin Newsom After California Governor Discloses Plans To Cut 10,000 Vacant State Jobs</a>
Artillery, long-range missiles known as ATACMS, and air defense interceptors, approved by President Joe Biden on Apr. 24, are already being supplied to the Ukrainian forces, the official confirmed. Blinken is expected to reassure Ukrainian officials, including President Volodymyr Zelenskyy, of the U.S.&#8217;s continued support and deliver a speech focused on Ukraine&#8217;s future.
On Monday, U.S. National Security Advisor Jake Sullivan stated that Washington is working to expedite the delivery of weapons to Ukraine to help counter its current disadvantage. 
&#8220;The delay put Ukraine in a hole and we&#8217;re trying to help them dig out of that hole as rapidly as possible,&#8221; Sullivan said, adding that a new package of weapons will be announced this week.
Why It Matters: Blinken&#8217;s visit to Ukraine comes amid escalating tensions in the region. In a recent meeting in Beijing, Blinken <a href="https://www.benzinga.com/news/24/04/38454152/antony-blinken-raises-alarm-over-xi-jinpings-support-for-russia-during-us-china-talks">voiced concerns over China's support</a> for Russia's military, potentially straining the ongoing efforts to mend relations between the two countries.
Furthermore, Russia has issued a warning to the West, indicating its readiness for a<a href="https://www.benzinga.com/news/24/05/38783286/russia-prepared-for-confrontation-with-west-over-ukraine-says-lavrov-if-they-want-it-to-be-on-the-ba"> potential military confrontation </a>in Ukraine. A senior Ukrainian intelligence official has suggested that Ukraine may have to <a href="https://www.benzinga.com/news/24/05/38628299/ukraine-may-need-to-negotiate-with-russia-to-end-war-says-top-intel-officer-both-sides-are-jockeying">engage in discussions with Russia</a> to bring an end to the ongoing war. 
Read Next: <a href="https://www.benzinga.com/news/24/05/38779447/biden-vs-trump-matchup-in-this-traditionally-red-state-shows-republican-partys-lead-could-shrink-due?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump Matchup In This Traditionally Red State Shows Republican Party&#8217;s Lead Could Shrink Due To This Factor</a>
Photo by Drop of Light on Shutterstock
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 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
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 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Politics

General

Antony Blinken Visits Ukraine To 'Send A Strong Signal Of Reassurance' To US Ally Amid War With Russia

The expected proceeds to the Company, after deducting underwriting discounts and commissions but before deducting offering expenses payable by the Company, are approximately $98,040,000. In addition, the Company has granted the underwriters a 30-day right to purchase up to an additional 360,000 shares of Company common stock at the public offering price, less underwriting discounts and commissions.

MBIN

Reported Earlier, Merchants Bancorp Prices Common Stock Offering Of 2.4M Shares At $43/Share

MKS estimates that the net proceeds from the offering will be approximately&nbsp;$1,177.7&nbsp;million (or approximately&nbsp;$1,374.2&nbsp;million if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers&#39; discounts and estimated offering expenses payable by MKS.

MKSI

Reported Earlier, MKS Instruments Prices Upsized Private Offering Of $1.2B Of 1.25% Convertible Senior Notes Due 2030

HMPL-306 is a novel dual-inhibitor of IDH1 and IDH2 enzymes. Mutations of IDH1 and IDH2 have been implicated as drivers of certain hematological malignancies, gliomas and solid tumors, particularly among AML patients. Although some IDH inhibitors have been approved in certain markets for AML, isoform switching between the cytoplasmic mutant IDH1 and mitochondrial mutant IDH2 often leads to acquired resistance to single inhibitors of IDH1 or IDH2. Targeting both IDH1 and IDH2 mutations may provide therapeutic benefits in cancer patients by overcoming this acquired resistance.

Reported Earlier, HUTCHMED Initiates The RAPHAEL Registrational Phase III Trial Of HMPL-306 For Patients With IDH1- And/Or IDH2-Mutated Relapsed/Refractory Acute Myeloid Leukemia In China

<ul>
<li>Almost half a million people diagnosed each year across the globe&nbsp;&mdash;</li>
<li>Collaboration based on synergistic potential of inhibiting angiogenesis and tumor-associated macrophages with HUTCHMED&#39;s surufatinib and anti-PD-1 activity with Hengrui&#39;s camrelizumab, promoting the immune&nbsp;response against tumor cells&nbsp;&mdash;</li>
</ul>

Reported Earlier, HUTCHMED Initiates Phase II/III Trial Of The Combination Of Surufatinib And Camrelizumab For Treatment-Naïve Pancreatic Ductal Adenocarcinoma In Collaboration With Hengrui

BIO101 (20-hydroxyecdysone) will be evaluated in obese patients treated with GLP-1 RAs, together with hypocaloric dieting. The OBA phase 2 study will test the efficacy and safety of BIO101 (20-hydroxyecdysone) in patients with obesity and overweight with secondary comorbidities, who are starting treatment with GLP-1 RAs for weight loss.

BPTSY

Biophytis Announces The Design Of Its Phase 2 OBA Clinical Study In Obesity With BIO101 (20-hydroxyecdysone)

Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) head of Cybertruck manufacturing Renjie Zhu has resigned from the company, joining the long list of senior executives to leave as company CEO&nbsp;Elon Musk&nbsp;seeks to&nbsp;<a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" target="_blank" rel="noreferrer noopener">downsize the company&#8217;s workforce.</a>
What Happened:&nbsp; Zhu took to LinkedIn to announce his departure from the electric vehicle giant.&nbsp;
&#8220;After triumphing the epic launch of [the] Cybertruck program and ramping the volume production line to the steady 1K/W throughput orbit for the past 16 months in GFTX, also 7 weeks after the 5th Tesla-versary, my adventure with this great company has come to an end,&#8221; Zhu wrote. Zhu joined Tesla in 2019 and launched the Cybertruck program at Giga Texas in January 2023, as per his LinkedIn profile.
Tesla started delivering the Cybertruck in late November. During Tesla&#8217;s first-quarter earnings call in April, a company executive confirmed that it made 1000 vehicle units in a week. The company intends to scale production to 250,000 units annually starting in 2025.
Zhu's departure adds him to a growing list of senior executives who have left Tesla in recent weeks, including Senior Director of Charging Infrastructure&nbsp;Rebecca Tinucci, Director of New Product Introduction&nbsp;Daniel Ho, Senior Vice President of Powertrain and Energy Engineering&nbsp;Drew Baglino, and Vice President of Public Policy and Business Development&nbsp;Rohan Patel.
&#8220;Now it's time to start a new journey, like a Falcon 9 back to the base, to refuel and prepare for next launch,&#8221; Zhu wrote in his post, referring to the reusable Falcon 9 rocket made by Tesla CEO Elon Musk&#8216;s private company SpaceX. It is unclear if Zhu was laid off or resigned out of personal choice.
Why It Matters: Last month, Tesla announced plans to cut costs through a <a href="https://www.benzinga.com/news/24/04/38516190/elon-musk-cracks-whip-harder-2-more-senior-tesla-execs-reportedly-exit-as-ceo-demands-absolutely-har" target="_blank" rel="noreferrer noopener">10% workforce reduction</a>, impacting an estimated 14,000 employees. These layoffs reflect broader challenges facing the company, including declining sales and pricing pressures.
For the first quarter, Tesla reported revenue of $21.3 billion, down from the $23.33 billion reported a year earlier. This is the first time the company's quarterly&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube" target="_blank" rel="noreferrer noopener">revenue has fallen</a>&nbsp;since the pandemic in 2020. Tesla's net profit stood at $1.13 billion, falling 55% from $2.51 billion a year earlier.
Price Action:&nbsp;Tesla stock closed 2% higher on Monday at $171.89 and gained 0.5% after hours. The stock is down 30.8% year-to-date, according to data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
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/24/05/38807360/elon-musks-spacex-reportedly-leaves-trail-of-unpaid-bills-worth-at-least-2-5m-amid-texas-expansion">Elon Musk&#8217;s SpaceX Reportedly Leaves Trail Of Unpaid Bills Worth At Least $2.5M Amid Texas Expansion</a>
Photo via Shutterstock

Management

TSLA

Another Tesla Exec Departs As Musk Downsizes: Cybertruck Manufacturing Head Marks End Of 'Adventure With This Great Company'

FLUT

Flutter Entertainment Reports Q1 Revenue Of $3.397B Up From $2.918B YoY, Adjusted EPS $0.10 Down From $0.69 YoY

Eloxx Pharmaceuticals GAAP EPS of -$1.96

The market has been down on Eloxx Pharmaceuticals Inc (ELOX)  stock recently. ELOX gets a Bearish score from InvestorsObserver Stock Sentiment Indicator. Eloxx Pharmaceuticals Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on ELOX!See Full ELOX ReportWhat is Stock Sen

Should You Buy Eloxx Pharmaceuticals Inc (ELOX) Stock After it Is Down 5.69% in a Week?

MULN, STIX and WE among mid-day movers

These Healthcare stocks are trading higher:-ENDRA Life Sciences Inc (NDRA) stock is trading at $1.25, a gain of $0.24, or 23.04%, on high volume.  Endra Life Sciences Inc gets a Sentiment Score of Very Bearish from InvestorsObserver.  -Neubase Therapeutics Inc (NBSE) stock is trading at $1.50, a rise of $0.27, or 21.91%, o

Healthcare Stocks Making Moves Thursday: NDRA, NBSE, ELOX, BDRX, BIOL, BNOX, HARP, ADTX

Eloxx Pharmaceuticals prices $2M stock offering

These Healthcare stocks are trading higher:-Tempest Therapeutics Inc (TPST) stock is trading at $6.62, an increase of $2.98, or 83.24%, on high volume.  Tempest Therapeutics Inc gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $19.6

Healthcare Stocks Making Moves Monday: TPST, MREO, RANI, APTO, ALDX, AMAM, OMER, ELOX

Eloxx Pharmaceuticals Inc (ELOX) stock has fallen -66.41% over the last 12 months. InvestorsObserver's proprietary ranking system, gives ELOX stock a score of  4 out of a possible 100. That rank is  influenced by a long-term technical score of 4. ELOX's rank also includes a short-term technical score of 7.  ELOX has an Ove

Eloxx Pharmaceuticals Inc (ELOX) Stock Loses -50.69% This Week; Should You Buy?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While getting kicked off an exchange typically signals about the biggest warning sign you can possibly receive, a (somewhat) rational argument exists for delisted stocks to buy. Psychologically, companies go through much anxiety doing whatever they can to stay listed in a major exchange. Once booted, a certain clarity may materialize, leading to a recovery performance.



In some sense, delisted enterprises represent the bears biggest nightmare because such organizations don&rsquo;t have &ldquo;anything&rdquo; to lose. Now, I say that in quotation marks because obviously, a corporation can completely implode and that certainly is something. To be 100% clear, delisted names represent speculative stocks. They can explode higher or they can crumble.



However, <a href="https://www.investopedia.com/terms/r/relisted.asp">many troubled enterprises have relisted previously</a>. In life and in Wall Street, redemption is not impossible to achieve. Sometimes, getting the boot is exactly that a company needs to kick into high gear. On that note, below are delisted stocks to buy for market gamblers.



<h2>Elys Game Technology (ELYS)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/gambling-stocks-poker-1600-300x169.jpg" alt="two playing cards, an ace of spades and a king of spades, leaned against a stack of black and red poker chips. represents gambling stocks."><div>Source: shutterstock.com/Dugger94621</div></div>


A nano-capitalization company to the extreme if there ever was one, Elys Game Technology (OTCMKTS:<a href="https://investorplace.com/stock-quotes/elys-stock-quote/">ELYS</a>) can only muster a market cap of $5.55 million. Also, we&rsquo;re talking about a price tag that sits at 15 cents per share. That&rsquo;s going to trigger a heavy disclosure but I&rsquo;ll just reinforce the warning right here: you do not want to spend any money here than you can afford to lose.



On Oct. 16 of this year, Elys announced that it <a href="https://www.solactive.com/change-of-listing-elys-game-technology-corp-20th-october-2023/#:~:text=On%20October%2016%2C%202023%20ELYS,business%20on%20October%2017th%2C%202023.">received a written notice</a> from the Listing Qualifications Department of The Nasdaq Stock Market LLC. Basically, the document stated that Elys shares would be suspended as of the opening of business on Oct. 17. It&rsquo;s not without good reason. Since the start of the year, ELYS dropped over 43% of equity value. And since its initial public offering (<a href="https://investorplace.com/stock-quotes/ipo-stock-quote/">IPO</a>), it absolutely cratered.



However, the underlying sportsbook solutions and online casino software is incredibly relevant, especially with the <a href="https://investorplace.com/2023/11/penn-entertainment-penn-stock-gains-on-analyst-upgrade/">debut of ESPN Bet</a>. Given the broader enthusiasm of sports gambling, ELYS could be interesting as one of the delisted stocks to buy.



Oh yeah, ELYS carries a <a href="https://www.tipranks.com/stocks/elys/forecast">moderate buy</a> consensus view with a $1 price target.



<h2>Enthusiast Gaming (EGLXF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/video-game-investing-fig-300x169.jpg" alt="Woman in VR glasses and man sitting at computer and creating graphics of modern video game."><div>Source: Shutterstock</div></div>


A Canadian digital media firm, Enthusiast Gaming (OTCMKTS:<a href="https://investorplace.com/stock-quotes/eglxf-stock-quote/">EGLXF</a>) specializes in video game journalism. Because of the ever-rising interest in video games, Enthusiast Gaming should be a banger among speculative stocks. However, since the beginning of the year, EGLXF gave up more than 58% of equity value. In the trailing 52 weeks, it&rsquo;s down almost 71%. Yikes.



Adding to the dilemma is that EGLXF trades for only 23 cents per share. On Oct. 27, the Chicago Board Options Exchange broadcasted a notice that Enthusiast shares will be delisted from the Nasdaq exchange. Subsequently, the ticker symbol changed from EGLX to EGLXF as it transitioned to the over-the-counter market. Nevertheless, an argument can be made that it&rsquo;s one of the delisted stocks to buy.



As Grand View Research stated, the global video game market size <a href="https://www.grandviewresearch.com/industry-analysis/video-game-market">reached a valuation of over $217 billion last year</a>. Further, experts project that the sector will expand at a compound annual growth rate (CAGR) of 13.4% from 2023 to 2030. At the culmination of this forecast, the segment should hit revenue of $583.69 billion.



Enticingly, analysts peg shares a <a href="https://www.tipranks.com/stocks/eglxf/forecast">unanimous strong buy</a> with a $1.71 price target.



<h2>Eloxx Pharmaceuticals (ELOX)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/biopharma-1600-300x169.jpg" alt="Illustration of a biopharma company. Doctor standing in front of various medical icons."><div>Source: Billion Photos / Shutterstock</div></div>


Another example of an extreme nano-cap play, Eloxx Pharmaceuticals (OTCMKTS:<a href="https://investorplace.com/stock-quotes/elox-stock-quote/">ELOX</a>) received the bad news on Oct. 12. On that day, the biopharma received a <a href="https://www.publicnow.com/view/EFAF6F1C90FD9E7E9BD170231ACBEB087F1F79B0?__cf_chl_tk=_g81LarDG7B6A_1Uot3O6qwNoCClMyuPePLFTVN_kbI-1701567874-0-gaNycGzNDSU">determination letter</a> from the Listing Qualifications Department of Nasdaq that its shares will be suspended from the exchange. Primarily, the company failed to meet the requirement that enterprises carry at least a minimum market value of $35 million.



What is it at the moment? A whopping $3.46 million. So yeah, the boot practically represented an inevitability. Also, there&rsquo;s the matter of ELOX losing about 57% of its equity value since the beginning of the year. For what it&rsquo;s worth, ELOX presently trades at $1.10 per share. Still, this status could come under pressure unless the company regains bullish momentum.



For the patient (and daring), ELOX could nevertheless be one of the delisted stocks to buy. Specializing in small molecule gene therapy, Eloxx seeks to address defects leading to genetic diseases and ribosomal mutations driving cancer. On a broader level, Precedence Research states that the global cell and gene therapy market <a href="https://www.precedenceresearch.com/cell-and-gene-therapy-market">reached a valuation of $15.46 billion last year</a>.



Further, the segment may experience a CAGR of 18.3% to 2032, culminating in revenue of $82.24 billion. Oppenheimer also sees a <a href="https://www.tipranks.com/stocks/elox/forecast">gargantuan $30 price target</a> on ELOX.



On the date of publication, Josh Enomoto 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/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2023/12/off-the-beaten-path-3-delisted-stocks-for-the-speculative-investor/">Off the Beaten Path: 3 Delisted Stocks for The Speculative Investor</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Off the Beaten Path: 3 Delisted Stocks for The Speculative Investor

These Healthcare stocks are trading higher:-Heron Therapeutics Inc (HRTX) stock is trading at $3.10, an increase of $0.74, or 31.36%, on high volume.  Heron Therapeutics gets a Sentiment Score of Very Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $6.67.

Healthcare Stocks Moving Up and Down Wednesday: HRTX, ELOX, CRDF, CUE, TNON, TSVT, WORX, ADCT

Eloxx Pharmaceuticals Inc (ELOX) has shared an update. Eloxx Pharmaceuticals has initiated a stock option repricing for their CEO's eligible option...