FT Vest U.S. Equity Buffer ETF - August (BATS: FAUG)

Latest news for FT Vest U.S. Equity Buffer ETF - August (BATS:FAUG)

Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange Options (FLEX Options) that reference the performance of the SPDR S&P 500 ETF Trust (the Underlying ETF). FLEX Options are customized equity or index option contracts that trade on an exchange, but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. It is non-diversified.

FT Cboe Vest US Equity Buffer ETF - August

FT Vest U.S. Equity Buffer ETF - August

WIIM

MoneyHero shares are trading lower. The company reported Q2 financial results.

Citigroup analyst Jason Bazinet maintains AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) with a Buy and raises the price target from $110 to $155.

News

Price Target

Analyst Ratings

Citigroup Maintains Buy on AppLovin, Raises Price Target to $155

Macquarie analyst Tim Nollen maintains Walt Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) with a Neutral and lowers the price target from $94 to $91.

Macquarie Maintains Neutral on Walt Disney, Lowers Price Target to $91

ELWS

Earlyworks shares are trading higher after the company announced a business alliance agreement with CIACA DIGITAL to support the expansion of Web3 businesses.

Stifel analyst Simon Yarmak maintains SITE Centers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) with a Buy and raises the price target from $65 to $65.25.

SITC

Stifel Maintains Buy on SITE Centers, Raises Price Target to $65.25

Citigroup analyst Keith Horowitz maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Neutral and raises the price target from $65 to $70.

Citigroup Maintains Neutral on Bank of New York Mellon, Raises Price Target to $70

KSPI

Joint Stock Company Kaspi.Kz shares are trading lower after Culper Research issued a report on the company.

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Oncolytics Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCY#NASDAQ">ONCY</a>) with a Buy and maintains $5 price target.

Reiteration

ONCY

HC Wainwright & Co. Reiterates Buy on Oncolytics Biotech, Maintains $5 Price Target

Citigroup analyst Thomas Palmer maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Neutral and lowers the price target from $76 to $75.

Citigroup Maintains Neutral on General Mills, Lowers Price Target to $75

Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) has agreed to a nearly $2 million settlement to address allegations from California prosecutors that the company overcharged customers at checkout due <a href="https://www.benzinga.com/markets/equities/24/09/40915432/home-depot-agrees-to-2m-settlement-in-customer-overcharging-lawsuit">to price discrepancies.</a>
Meanwhile, overbought stocks nearing resistance levels often experience reversals, and Home Depot&#8217;s stock is currently showing these signs. With its share price approaching a key resistance point, it stands out as our Stock of the Day.
Most of the time, a stock stays within its usual or typical trading range. But sometimes, investors and traders can be aggressive and emotional. Their buying can push the stock above this range, which is considered overbought.
This is an important dynamic. It will draw sellers into the market. They will be expecting a reversion to the mean or move lower. Their selling could put pressure on the stock and force it down.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40938732/wall-street-ramps-up-interest-rate-cut-bets-after-fed-meeting-the-hard-landing-crow">Wall Street Ramps Up Interest Rate Cut Bets After Fed Meeting: &#8216;The Hard-Landing Crowd Should Disperse,&#8217; Economist Says</a>
The bottom half of the chart below shows the Relative Strength Index (RSI), a popular momentum indicator. When the blue line crosses above the horizontal red line, it indicates overbought conditions, which is now the case.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="632" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112247/hd-chart-1024x632.png" alt="" class="wp-image-556556" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112247/hd-chart-1024x632.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112247/hd-chart-300x185.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112247/hd-chart-768x474.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112247/hd-chart.png 1177w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The reason resistance often forms at previous levels is rooted in investor psychology, specifically buyer&#8217;s remorse.
There are traders and investors who bought Home Depot when it was at a peak of around $395 in March and came to regret their decision when the stock sold off just after. Some of them vowed to sell their shares if they could get out of the position without losing any money.
As a result, if the stock gets back to their buying price, they will be placing sell orders. And if there are enough of these orders, it will create resistance at the level once again.
Stocks can pull back from resistance due to anxious sellers who fear that others might be willing to sell at a lower price. They understand that buyers will likely turn to those sellers, driving prices down.
So, they reduce the prices at which they are willing to sell. Other anxious sellers see this and do the same thing, resulting in a snowball effect that forces the shares into a downtrend.
The best traders understand psychology. They recognize that resistance often forms at previous peaks due to buyer&#8217;s remorse and that stocks typically pull back from resistance as anxious sellers emerge. This insight enables them to capitalize on these movements and profit.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40941053/s-p-500-dow-jones-hit-record-highs-magnificent-7-add-400-billion-after-feds-histori">S&amp;P 500, Dow Jones Hit Record Highs: Magnificent 7 Add $400 Billion After Fed&#8217;s Historic Interest Rate Cut</a></li>
</ul>
Photo: Shutterstock

Technicals

Trading Ideas

Stock Of The Day: Home Depot Agrees To Settlement, While Overbought Signals Warn Of Potential Sell-Off

Associated Capital Group Shares Resumed Trade

Citigroup analyst Yigal Nochomovitz maintains Applied Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLT#NASDAQ">APLT</a>) with a Buy and raises the price target from $8 to $11.

APLT

Citigroup Maintains Buy on Applied Therapeutics, Raises Price Target to $11

Stifel analyst Brian Chin maintains Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) with a Buy and lowers the price target from $165 to $135.

Stifel Maintains Buy on Micron Technology, Lowers Price Target to $135

FLGC

Flora Growth shares are trading higher after the company announced an expansion in its European presence through a medical marijuana strategic supply agreement.

JMP Securities analyst Nicholas Jones reiterates Xometry (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XMTR#NASDAQ">XMTR</a>) with a Market Outperform and maintains $27 price target.

XMTR

JMP Securities Reiterates Market Outperform on Xometry, Maintains $27 Price Target

Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) announced a generative AI-powered personal assistant, codenamed Project Amelia, available in beta starting Thursday for an <a href="https://www.aboutamazon.com/news/innovation-at-amazon/amazon-project-amelia">initial set of U.S. sellers.</a>
The Details: Amazon said Project Amelia provides an all-in-one, generative AI-based "selling expert" available from any page within Seller Central. Sellers can ask Amelia knowledge-based questions to receive personalized answers based on Amazon's best practices. Amelia can also provide sellers with status updates, metrics and sales and traffic data.  
Read Next: <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">What Happened With SoFi Stock Today?</a>
Amazon said Amelia will soon be able to offer resolution paths to issues and tasks by diagnosing problems and, in some cases, offering to take action on behalf of sellers. Amazon will continue to enhance the core knowledgebase for Project Amelia and build on its features and capabilities.&nbsp;
"As Amelia evolves, it will provide a more personalized experience and will increasingly gain the ability to not only converse with sellers, but anticipate their needs, take actions, and resolve issues on their behalf," Amazon said in a blog post.&nbsp;
Project Amelia was developed using the Amazon Bedrock managed service for building generative AI applications and is available in beta Thursday to an initial set of U.S. sellers. Project Amelia will progressively roll out to additional U.S. sellers in the coming weeks and will begin a phased rollout in additional countries later this year.&nbsp;
AMZN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Amazon shares are up 1.5% at $189.24 at the time of publication Thursday.&nbsp;
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40923038/whats-going-on-with-carnival-stock">What&#8217;s Going On With Carnival Stock?</a></li>
</ul>
Image: Unsplash

Large Cap

Movers

AMZN

Amazon Launches AI Assistant Codenamed 'Project Amelia'

STLD

Shares of steel stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday. On September 13, Senator Casey announced that the United States Trade Representative finalized an increase on Section 301 tariffs.

As Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) becomes a key <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40927528/microstrategy-raises-875m-in-convertible-notes-plans-further-bitcoin-purchases">asset for corporate treasuries</a>, public companies are increasingly adopting innovative strategies to maximize their Bitcoin holdings.
What Happened: What began with MicroStrategy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) decision to include Bitcoin in its corporate treasury has sparked a wave of similar moves by companies like Cathedra Bitcoin (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBTTF#OTC">CBTTF</a>), Metaplanet and Semler Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>).
The trend is redefining how firms manage their balance sheets and navigate economic uncertainty, <a href="https://www.coindesk.com/business/2024/09/19/maximizing-bitcoin-per-share-a-new-corporate-strategy/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">according</a> to Coindesk.
MicroStrategy, led by Michael Saylor, stands at the forefront of this shift, recently expanding its Bitcoin portfolio to 244,800 coins, valued at nearly $9.45 billion. Saylor's approach, positioning Bitcoin as a hedge against inflation, has sent MicroStrategy's stock soaring—up 295% over the past year. 
The company's continued investments in Bitcoin, including a recent $700 million bond offering to finance more acquisitions, signal a long-term commitment to the cryptocurrency. 
Despite concerns over the stock's mixed technical outlook, Saylor remains bullish, stating that Bitcoin's role in corporate finance will only grow.
MicroStrategy's strategy has paved the way for other companies to follow suit. 
Cathedra Bitcoin, a publicly traded firm on the TSX Venture Exchange, has shifted its focus from Bitcoin mining to managing data centers, aiming to increase its Bitcoin holdings per share. 
As mining becomes more challenging due to Bitcoin halving, Cathedra's new approach allows it to generate sustainable cash flow while continuously acquiring more Bitcoin. 
"Going forward, we will make all capital allocation decisions with the intention of maximizing our shareholders' per-share Bitcoin holdings," the company said in a recent statement.
Metaplanet has taken a similar approach, focusing on growing its Bitcoin reserves month over month. 
The company's strategy has led to a 587% increase in its stock value this year, underscoring the market's positive response to this trend. 
CEO Simon Gerovich emphasized that prioritizing Bitcoin holdings has been a key driver of the company's recent success.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937057/bitcoin-ethereum-etfs-see-over-50m-net-outflows-despite-feds-50-bps-rate-cut">Bitcoin, Ethereum ETFs See Over $50M Net Outflows Despite Fed&#8217;s 50 Bps Rate Cut</a>
Why It Matters: These moves reflect a broader shift toward using Bitcoin not only as a hedge against inflation but as a strategic asset to enhance shareholder value.
Companies like MicroStrategy and Cathedra are now leading the charge in what has been described as the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40776328/microstrategys-bitcoin-strategy-has-outperformed-every-s-p-500-company-and-even-nvidia-sin">"maximize Bitcoin per share" strategy</a>.
This approach focuses on increasing Bitcoin reserves over time, leveraging the cryptocurrency's long-term growth potential.
MicroStrategy has further diversified its strategy by offering convertible bonds backed by Bitcoin collateral. 
These financial instruments, which offer a 1% interest rate, have attracted investors seeking lower-risk exposure to Bitcoin. 
"We're capturing a 50% premium or 50% type BTC yield on that up front," Saylor said, explaining how the bonds allow the company to acquire more Bitcoin while minimizing volatility.
The success of MicroStrategy's strategy has been hard to ignore. 
Since the company adopted Bitcoin in 2020, it has outperformed every company in the S&amp;P 500, achieving an average annual return of 44%. 
Saylor highlighted that even Nvidia, the index's top-performing stock, has been outpaced by MicroStrategy's Bitcoin-focused approach.
However, the strategy is not without risks. 
With mixed technical signals, including a bearish Moving Average Convergence Divergence (MACD) and a neutral Relative Strength Index (RSI), MicroStrategy's stock could face near-term volatility. 
The company's long-term success will depend on the broader adoption of Bitcoin and the potential for Bitcoin ETFs, which could bring the cryptocurrency <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40899629/microstrategy-doubles-down-on-bitcoin-can-the-stock-sustain-its-rally">further into the financial mainstream.</a>
As Bitcoin continues to reshape corporate strategies, these developments will be a focal point at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40927528/microstrategy-raises-875m-in-convertible-notes-plans-further-bitcoin-purchases">MicroStrategy Raises $875M In Convertible Notes, Plans Further Bitcoin Purchases</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

CBTTF

MSTR

SMLR

MicroStrategy's Bitcoin Playbook Is Becoming A Hit Among Companies, But There's A Catch

JMP Securities analyst Mitch Germain reiterates Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) with a Market Outperform and maintains $15 price target.

JMP Securities Reiterates Market Outperform on Whitestone REIT, Maintains $15 Price Target

JP Morgan analyst Anne Samuel maintains Progyny (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) with a Overweight and lowers the price target from $31 to $22.

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FT Vest U.S. Equity Buffer ETF - August

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Latest news for FT Vest U.S. Equity Buffer ETF - August (BATS:FAUG)