Fuji Oil Co Stock (OTC:FJLLF), Trade Ideas

Fuji Oil Co Ltd is engaged in the business of importing crude oil, refining of oil and production, processing, storage, export, and sales of petroleum products and petrochemical products. Japan generates maximum revenue for the company.

FUJI OIL HOLDINGS INC by Fuji Oil Holdings Inc.

Fuji Oil Co Ltd

DA Davidson analyst Gary Tenner maintains Triumph Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFIN#NASDAQ">TFIN</a>) with a Neutral and lowers the price target from $73 to $68.

News

Price Target

Analyst Ratings

TFIN

DA Davidson Maintains Neutral on Triumph Financial, Lowers Price Target to $68

Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) has <a href="https://t.me/stonks_sniper_bot">officially been issued</a> on the TON (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>) blockchain.
What Happened: This announcement was made by Tether CEO Paolo Ardoino at Token2049 in Dubai, marking a pivotal moment for both organizations involved. 
Ardoino and Pavel Durov, co-founder of Telegram outlined the details and implications of the increasing integration between TON and Tether.
Revolutionizing Payments And User Empowerment
Pavel Durov highlighted the philosophical and technical synergies between Telegram and blockchain technology, <a href="https://x.com/ton_blockchain/status/1781266512990372295">stating</a>, "We love blockchain because it allows us to give the power back to people and to enrich our ecosystem." 
This ethos is evident in Telegram's latest move to tokenize virtually every aspect of its platform, from user names to chat functionalities.
The announcement that USDT, one of the world&#8217;s most widely utilized stablecoins, will now be issued on the TON blockchain marks a significant milestone. 
"This is not just a technical integration; it represents a fusion of ideals—freedom, equality, and the democratization of financial operations on a global scale," Durov said in Dubai.
Implications For Digital Asset Markets
The integration of USDT on TON is poised to enhance the utility of Telegram's blockchain infrastructure, offering users seamless transactions and an alternative to traditional financial systems plagued by inefficiencies and restrictions. 
Durov's narrative was supported by Ardoino, who joined the stage to discuss the specifics of the USDT integration.
Ardoino provided insights into the technical and operational advancements that the partnership entails. 
"Today, we launched the integration and performed the first issuance of USDT on TON. This enables a robust, scalable and user-friendly platform for millions to access and transact with USDT directly within Telegram," said Ardoino.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><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" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38332952/bitcoin-rebounds-to-65k-shakes-off-4m-etf-outflow-and-geopolitical-uncertainty">Bitcoin Rebounds To $65K, Shakes Off $4M ETF Outflow And Geopolitical Uncertainty</a>
Strategic Moves And Future Prospects
This collaboration is part of Telegram's broader strategy to incorporate advanced blockchain solutions that facilitate widespread user engagement and monetization opportunities for developers and content creators within the platform. 
The move is expected to drastically increase the use of mini-apps and bots, potentially engaging over 700 million users monthly.
Durov also criticized the prevalent models of monetization in digital platforms, which exploit user data without fair compensation. 
In contrast, Telegram offers one of the most generous revenue-sharing models, returning 50% of ad-generated revenue to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38208979/what-is-going-on-with-ton-the-most-interesting-eco-says-analyst">channel owners and content creators</a>.
This model not only incentivizes quality content production but also aligns with the platform's ethos of equity and user empowerment.
Anticipated Discussions At Benzinga&#8217;s Future of Digital Assets Event
The implications of such integrations are vast and will be a hot topic at the upcoming Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38321951/what-happens-after-the-bitcoin-halving">What Happens After The Bitcoin Halving?</a>
Image: Shutterstock

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

Cryptocurrency

$TON

$USDT

USDT To Deploy On TON Blockchain Amid Telegram Co-Founder Keynote Speech

Adam Neumann&nbsp;is making a renewed effort to regain control of&nbsp;WeWork Inc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/WEWOQ#OTC">WEWOQ</a>)&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/WEWKQ#OTC">WEWKQ</a>) as the company struggles to secure funding and avoid a sale&nbsp;<a target="_blank" href="https://www.benzinga.com/m-a/24/03/37932648/can-wework-find-stability-ousted-ceo-adam-neumanns-over-500m-bid-signals-potential-shift-in-ownershi" rel="noreferrer noopener">amid bankruptcy proceedings</a>.&nbsp;
Since filing for bankruptcy in November, WeWork has been engaged in court-led restructuring, primarily focusing on renegotiating leases, but its financial challenges persist.
Running short of cash, WeWork needs up to&nbsp;$400 million&nbsp;in fresh funding to emerge successfully from bankruptcy.&nbsp;
Failure to secure new investment could force the company to consider a sale, the Financial Times&nbsp;<a target="_blank" href="https://www.ft.com/content/ac28423a-7708-4da9-9388-34dfb09055ce" rel="noreferrer noopener">noted</a>, citing insiders.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/03/37483389/from-london-to-wall-street-wework-rival-iwg-reportedly-eyes-us-listing-for-enhanced-valuation" target="_blank" rel="noreferrer noopener">From London To Wall Street: WeWork Rival IWG Reportedly Eyes US Listing For Enhanced Valuation</a>.
Neumann, the former CEO of WeWork who stepped down in 2019, put forth a conditional offer of approximately $600 million through his new property venture, Flow.
In response to the offer, Alex Spiro, an attorney for Flow, stated their readiness to outbid any other offers by 10% once confidentiality agreements are in place. WeWork aims to emerge from Chapter 11 by the end of May, emphasizing its commitment to strengthening the company with new financial investments.
Rithm Capital&nbsp;and Leonard Blavatnik&#8217;s Access Industries have initially talked with&nbsp;Neumann&nbsp;regarding backing a bid for WeWork. However, skepticism looms among some of the company&#8217;s major lenders and advisors due to&nbsp;Neumann&#8217;s&nbsp;past leadership challenges.
WeWork&#8217;s aggressive approach to renegotiating leases, including withholding post-petition rent, significantly reduced long-term lease obligations. However, cash shortages persist, complicating negotiations with creditors and potential investors.
The ongoing search for cash has created a dilemma for WeWork&#8217;s creditors, who face diluted stakes in the reorganized company. Meanwhile, new funding requirements allow&nbsp;Neumann&nbsp;and other potential bidders to influence the company&#8217;s future.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38333186/increase-in-card-member-spending-boosts-amex-q1-revenue-company-eyes-steady-annual-growth">Increase In Card Member Spending Boosts Amex Q1 Revenue, Company Eyes Steady Annual Growth</a>
Photo: Shutterstock

Financing

General

WEWKQ

WEWOQ

WeWork's Former CEO Adam Neumann Proposes $600M Bid To Regain Control Of Bankrupt Company

Whales with a lot of money to spend have taken a noticeably bearish stance on Trade Desk.
Looking at options history for Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $132,000 and 9, calls, for a total amount of $603,182.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $87.5 for Trade Desk over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Trade Desk'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 Trade Desk's whale activity within a strike price range from $60.0 to $87.5 in the last 30 days. 
<h3>Trade Desk Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713543411_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TTD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$19.75</td>
<td>$19.5</td>
<td>$19.75</td>
<td>$60.00</td>
<td>$136.2K</td>
<td>389</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>TTD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$11.3</td>
<td>$11.1</td>
<td>$11.3</td>
<td>$87.50</td>
<td>$102.8K</td>
<td>57</td>
<td style="text-align: right;">91</td>
</tr>
<tr>
<td>TTD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$4.8</td>
<td>$4.7</td>
<td>$4.75</td>
<td>$85.00</td>
<td>$95.0K</td>
<td>3.3K</td>
<td style="text-align: right;">388</td>
</tr>
<tr>
<td>TTD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$5.0</td>
<td>$4.95</td>
<td>$5.0</td>
<td>$85.00</td>
<td>$85.5K</td>
<td>3.3K</td>
<td style="text-align: right;">11</td>
</tr>
<tr>
<td>TTD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$3.2</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$82.00</td>
<td>$60.0K</td>
<td>1.5K</td>
<td style="text-align: right;">242</td>
</tr>
</tbody>
</table>

<h3>About Trade Desk</h3>
The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, and social) on different devices like computers, smartphones, and connected TVs. It utilizes data to optimize the performance of ad impressions purchased. The firm's platform is referred to as a demand-side platform in the digital ad industry. The firm generates its revenue from fees based on a percentage of what its clients spend on advertising.
After a thorough review of the options trading surrounding Trade Desk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Trade Desk's Current Market Status</h3>
<ul>
<li>With a volume of 773,303, the price of TTD is down -2.67% at $78.65. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 19 days.</li>
</ul>
<h3>What The Experts Say On Trade Desk</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $100.0.
<ul>
<li>An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $100. </li>
</ul>
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 Trade Desk options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Spotlight on Trade Desk: Analyzing the Surge in Options Activity

Investors with significant funds have taken a bearish position in Lucid Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in LCID usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for Lucid Gr. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 22% being bullish and 77% bearish. Of all the options we discovered, 8 are puts, valued at $1,339,015, and there was a single call, worth $30,200.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1.0 to $3.0 for Lucid Gr during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lucid Gr's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lucid Gr's substantial trades, within a strike price spectrum from $1.0 to $3.0 over the preceding 30 days.
<h3>Lucid Gr 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713543405_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.67</td>
<td>$0.58</td>
<td>$0.67</td>
<td>$2.00</td>
<td>$334.0K</td>
<td>28.6K</td>
<td>5.0K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.68</td>
<td>$0.6</td>
<td>$0.66</td>
<td>$2.00</td>
<td>$222.3K</td>
<td>28.6K</td>
<td>8.5K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$0.69</td>
<td>$0.65</td>
<td>$0.69</td>
<td>$2.50</td>
<td>$207.0K</td>
<td>6.3K</td>
<td>4.8K</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$0.76</td>
<td>$0.68</td>
<td>$0.7</td>
<td>$3.00</td>
<td>$140.0K</td>
<td>67.7K</td>
<td>1</td>
</tr>
<tr>
<td>LCID</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.36</td>
<td>$1.24</td>
<td>$1.36</td>
<td>$3.00</td>
<td>$132.0K</td>
<td>149.9K</td>
<td>2.1K</td>
</tr>
</tbody>
</table>

<h3>About Lucid Gr</h3>
Lucid Group Inc is a technology and automotive company. It develops the next generation of electric vehicle (EV) technologies. It is a vertically integrated company that designs, engineers, and builds electric vehicles, EV powertrains, and battery systems in-house using our own equipment and factory.
In light of the recent options history for Lucid Gr, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Lucid Gr</h3>
<ul>
<li>With a volume of 6,608,517, the price of LCID is up 0.2% at $2.44. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 17 days.</li>
</ul>
<h3>Expert Opinions on Lucid Gr</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $3.0.
<ul>
<li>An analyst from Morgan Stanley persists with their Underweight rating on Lucid Gr, maintaining a target price of $3. </li>
</ul>
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.
If you want to stay updated on the latest options trades for Lucid Gr, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

LCID

Lucid Gr Unusual Options Activity

High-rolling investors have positioned themselves bearish on Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GS often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 16 options trades for Goldman Sachs Gr. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $76,360, and 15 calls, totaling $925,177.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $310.0 to $412.5 for Goldman Sachs Gr over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Goldman Sachs Gr'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 Goldman Sachs Gr's whale activity within a strike price range from $310.0 to $412.5 in the last 30 days. 
<h3>Goldman Sachs Gr Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713543400_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$75.75</td>
<td>$73.95</td>
<td>$75.75</td>
<td>$360.00</td>
<td>$242.1K</td>
<td style="text-align: right;">61</td>
<td style="text-align: right;">27</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$22.9</td>
<td>$22.35</td>
<td>$22.35</td>
<td>$390.00</td>
<td>$125.4K</td>
<td style="text-align: right;">620</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$33.3</td>
<td>$30.95</td>
<td>$30.95</td>
<td>$390.00</td>
<td>$108.0K</td>
<td style="text-align: right;">35</td>
<td style="text-align: right;">35</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$97.5</td>
<td>$93.95</td>
<td>$97.05</td>
<td>$310.00</td>
<td>$97.0K</td>
<td style="text-align: right;">330</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>GS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$33.2</td>
<td>$32.8</td>
<td>$33.2</td>
<td>$410.00</td>
<td>$76.3K</td>
<td style="text-align: right;">406</td>
<td style="text-align: right;">28</td>
</tr>
</tbody>
</table>

<h3>About Goldman Sachs Gr</h3>
Goldman Sachs is a leading global investment banking and asset management firm. Approximately 20% of its revenue comes from investment banking, 45% from trading, 20% from asset management and 15% from wealth management and retail financial services. Around 60% of the company's net revenue is generated in the Americas, 15% in Asia, and 25% in Europe, the Middle East, and Africa.
Following our analysis of the options activities associated with Goldman Sachs Gr, we pivot to a closer look at the company's own performance.
<h3>Current Position of Goldman Sachs Gr</h3>
<ul>
<li>With a volume of 914,478, the price of GS is up 0.52% at $405.19. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 89 days.</li>
</ul>
<h3>Expert Opinions on Goldman Sachs Gr</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $426.6.
<ul>
<li>An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Goldman Sachs Gr, which currently sits at a price target of $435. </li>
<li>An analyst from BMO Capital has decided to maintain their Market Perform rating on Goldman Sachs Gr, which currently sits at a price target of $360. </li>
<li>Showing optimism, an analyst from Argus Research upgrades its rating to Buy with a revised price target of $465. </li>
<li>Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Goldman Sachs Gr with a target price of $440. </li>
<li>Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Goldman Sachs Gr, targeting a price of $433. </li>
</ul>
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 Goldman Sachs Gr options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Behind the Scenes of Goldman Sachs Gr's Latest Options Trends

Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares are moving higher in early trading Friday following gains of more than 20% on Thursday. Here's a<a href="https://www.benzinga.com/markets/cannabis/24/04/38297096/canopy-growth-ceo-at-benzinga-conference-i-dont-think-our-investors-understand-the-value-that-si"> look at what's going on</a>.
The Details:
Canopy Growth <a href="https://www.benzinga.com/pressreleases/24/04/n38324587/canopy-growth-announces-cbi-conversion-to-exchangeable-shares-and-newly-constituted-board-of-direc">announced</a> after the market close Thursday that CBI exchanged 17,149,925 common shares in the capital of the company for exchangeable shares for no consideration. As a result, the CBG Group no longer holds any common shares in the company.&nbsp;
In connection with the note exchange, Garth Hankinson, Judy Schmeling and James Sabia each resigned from the board effective immediately.&nbsp;
&#8220;This is another important step forward for the Canopy USA strategy following the recent and overwhelming approval of our shareholders to create this exchangeable class of shares,&#8221; said David Klein, CEO of Canopy Growth.
&#8220;We look forward to maintaining an enduring positive relationship with CBI as our largest shareholder, and to the further advancement of the Canopy USA strategy that this change enables as Canopy USA moves forward with the acquisitions of Wana, Jetty and Acreage.&#8221;
Related News: <a href="https://www.benzinga.com/news/24/04/38324715/whats-going-on-with-google-parent-alphabet-stock-ahead-of-earnings">What&#8217;s Going On With Google Parent Alphabet Stock Ahead Of Earnings?</a>
<h2 class="wp-block-heading" id="h-is-cgc-a-good-stock-to-buy">Is CGC A Good Stock To Buy? </h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/CGC">Canopy Growth</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Canopy Growth does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/CGC">Canopy Growth</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
CGC Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Canopy Growth shares are up 1.28% at $7.93 at the time of publication Friday.
Image: Nicky from Pixabay

Cannabis

Movers

What's Going On With Canopy Growth Stock?

Macquarie analyst Sunny Chow initiates coverage on H World Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) with a Outperform rating and announces Price Target of $48.

Initiation

HTHT

Macquarie Initiates Coverage On H World Group with Outperform Rating, Announces Price Target of $48

<a href="https://ml.globenewswire.com/Resource/Download/9ee5bd01-bdbc-43f7-af2d-e4c34004b336">https://ml.globenewswire.com/Resource/Download/9ee5bd01-bdbc-43f7-af2d-e4c34004b336</a>
Dear Members of the Board:&nbsp;
A fund managed by Butler Hall Capital LLC, ("Butler Hall", "we" or "our") with current ownership of 350,000 shares of Vanda Pharmaceuticals Inc. ("Vanda" or the "Company"), has issued an open letter to the Company's board of directors (the "Board") regarding the potential bid for Vanda submitted by Future Pak, LLC ("Future Pak"). Future Pak has submitted a bid to acquire the Company without a financing contingency for a price that is 79.0%-91.4% above Vanda's closing price as of April 16th, 2024 and has indicated various ways to improve the offer including "a potential increase in the cash consideration" [1]. While we agree with the Board that the stock is significantly undervalued given the combination of its fortress balance sheet ($6.75/share of net cash), newly acquired Ponvory assets (which the Company paid $1.75/share for) and the $192.6 million of revenues in 2023 from its existing portfolio [1], we do not believe the Board has earned the right to outright reject such an offer. Moreover, the refusal to engage in a discussion leaves us extremely concerned that such actions will impair our investment in the Company. The Board should immediately form an independent special committee to engage with Future Pak and run a full sales process to achieve the highest value for shareholders. We believe any failure to do so would be a clear disregard of the Board's fiduciary duty to the Company's shareholders.
&nbsp;We believe the Board's actions over the past several years have led to significant value destruction and a stock that trades well below its net cash balance. We think these actions have left Vanda's management and the Board with no credibility as evident by the stock's anemic performance, specifically down 52.9% and 42.9% in 2022 and 2023, respecƟvely. Further, the poor equity performance has coincided with a period in which the management team has significantly enriched themselves. For example, Dr. Mihael Polymeropoulos, the Chairman of the Board and the Chief ExecuƟve Officer ("CEO") of the Company, has received approximately $40 million in compensaƟon over the past 10 years [2] . When considering that Vanda's stock has declined by approximately 83% in just the past five years and has significantly underperformed the indices highlighted in its last form 10-K filing, the compensaƟon of certain members of management appears excessive to us [3]. It also leads us to quesƟon the real reason why such a substanƟal offer was rejected and whether the Board is acƟng to enrich themselves rather than to maximize shareholder value.

Management

VNDA

Butler Hall Capital Has Issued An Open Letter To VNDA's Board Of Directors Urging The Company To Run A Full Sales Process To Maximize Shareholder Value

For decades, former President Donald Trump has made headlines for his business dealings, political undertakings and legal issues, but one less-discussed point is his relationship with cryptocurrency.&nbsp;
Trump has amassed a multimillion-dollar crypto portfolio and has sold some of his tokens for a profit. Take a closer look at the tokens Trump holds.
Don't Miss:
<ul>
<li>If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019,<a href="https://www.benzinga.com/money/etoro-doge"> here&#8217;s how much you&#8217;d have today</a>.</li>
<li>Bitcoin has jumped another 45% already this year &#8211;<a href="https://www.benzinga.com/money/kraken"> how much would you need to get started today?</a></li>
</ul>
The largest holding <a href="https://platform.arkhamintelligence.com/explorer/entity/donald-trump">in Trump's portfolio</a> is MAGA Coin (TRUMP). This project is a meme coin that was created last summer endorsing Trump and providing donations to charities that align with his political views. Upon creation of the project, the founders sent 580,000 tokens to Trump's wallet address. At the time, TRUMP was worth less than $0.01, and the position was worth just a few thousand dollars. Flash forward to March, when TRUMP went as high as $11.56, and Trump's tokens were worth over $6.7 million. Since then, the price of TRUMP has fallen considerably, and the position is worth around $3 million.
The second-largest holding in Trump's crypto portfolio is Ethereum (ETH) and Wrapped ETH (WETH). Combined, Trump owns around 800 ETH and WETH worth around $2.5 million. Trump received most of these tokens from the Trump Digital Trading Cards non-fungible token (NFT) collection, which sold 45,000 NFTs for $99 each, using Trump's name, image and likeness. Trump has received over 1,700 ETH from the project in the form of royalties.&nbsp;
<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37521073/heres-how-much-trump-could-have-had-if-he-didnt-sell-his-ethereum">Trump sold 1,075 ETH in late 2023</a>. He sent the ETH to Coinbase, generating around $2.4 million in profits.&nbsp;
Combined, the ETH, WETH and TRUMP account for $5.4 million out of Trump's $5.7 million portfolio. Trump also owns over 60 other tokens.&nbsp;
Trending: Dogecoin millionaires are increasing —<a href="https://www.benzinga.com/money/dogecoin-millionaires-adv"> investors with $1M+ in DOGE revealed!</a>
Going down the list, Trump's next largest holding is CONAN, a meme coin named after a special forces dog that rose to fame for his role in the raid that targeted Abu Bakr al-Baghdadi in 2019. The creators, who are affiliated with the team that created TRUMP, sent 20 billion CONAN tokens to Trump's wallet when the project launched in February. The tokens were worth $40,000 at the time of launch but have since appreciated to over $300,000.&nbsp;
After CONAN, there is a large drop-off in terms of token value. The next largest token is BABYTRUMP, another meme coin. In total Trump holds around $30,000 of this token. Trump holds an additional 50 tokens with values under $1,000, almost all of which are meme coins.&nbsp;
Though it has flown under the radar, Trump's portfolio is one of the strangest stories in crypto. The random and bizarre nature of his holdings can give some insight into the crypto community as well as Trump's financial position. Going forward, anyone can monitor Trump's portfolio to see all inflows, outflows and crazy new coins that Trump owns.&nbsp;
Read Next:
<ul>
<li>About 22% of the adult population in the U.S. own a share of Bitcoin,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>The<a href="https://www.benzinga.com/money/kraken-2"> last-standing top crypto exchange without a major security breach</a> offers what now?</li>
</ul>
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/events/digital-events"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28172612/905735A6-57D3-4874-9AA1-75D037842DB3.gif" alt="crypto digital assets" class="wp-image-269852" /></a></figure>

Donald Trump's $5.7 Million Crypto Portfolio: How Many Cryptocurrencies Does Trump Own?

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains BankUnited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) with a Market Perform and lowers the price target from $33 to $31.

Keefe, Bruyette & Woods Maintains Market Perform on BankUnited, Lowers Price Target to $31

Trading volumes on the top 10 centralized exchanges (CEXs) nearly doubled to $4.29 trillion in <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38147768/crypto-q1-report-highlights-300-meme-coin-renaissance-and-major-step-for-ethereum">the first quarter of 2024</a>—the highest level since the last peak in the fourth quarter of 2021. 
What Happened: The total cryptocurrency market capitalization mirrored this growth, soaring by 64.5% to achieve a record high of $2.9 trillion on March 13, 2024, according to a CoinGecko <a href="https://www.coingecko.com/research/publications/2024-q1-crypto-report">report</a>.
This rally was prominently led by major assets such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which reached a new all-time high of $73,098, and Bitcoin <a href="https://www.benzinga.com/topic/spot-bitcoin-etf">spot exchange-traded funds (ETFs)</a>, which hold over $55 billion in assets under management.
Bitcoin&#8217;s Remarkable Quarter: 
Following the U.S. Securities and Exchange Commission&#8217;s approval of spot Bitcoin ETFs in January 2024, Bitcoin experienced a volatile but ultimately upward trajectory. 
The flagship cryptocurrency corrected by 16% early in the quarter, dropping to a low of $39,505, before rallying by an impressive 85% to set a new high. 
The quarter closed with Bitcoin at $71,247, bolstered by average daily trading volumes that surged by nearly 90% from the previous quarter to $34.1 billion.
Ethereum and DeFi&#8217;s Ascendancy: 
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also saw substantial activity, particularly in the area of restaking on platforms like EigenLayer, where restaked ETH volumes grew by 36% to 4.3 million ETH. 
This restaking was primarily driven by Liquid Restaking Protocols (LRTs), which are increasingly popular among investors seeking liquidity and yield.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><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" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38332952/bitcoin-rebounds-to-65k-shakes-off-4m-etf-outflow-and-geopolitical-uncertainty">Bitcoin Rebounds To $65K, Shakes Off $4M ETF Outflow And Geopolitical Uncertainty</a>
Shifts in Exchange Dynamics: 
Binance reaffirmed its position as the dominant player in the CEX market, capturing 50% of the market share by the end of March. 
This was a period marked by an influx of new projects and listings, which attracted significant trading volumes. 
On the flip side, exchanges like MEXC saw a reduction in market share as trading focus shifted towards major cryptocurrencies like BTC, ETH and newly popular meme coins on the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) blockchain.
Decentralized Exchanges (DEXs) Diversify: 
While CEXs enjoyed robust volumes, the landscape for DEXs evolved with Ethereum&#8217;s market share in this segment dropping to below 40%. 
Emerging chains like Arbitrum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ARB</a>) and Base gained traction through strategic incentive programs and significant volume contributions from niche sectors like meme coins.
What&#8217;s Next: As the digital asset ecosystem continues to evolve, the insights from Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> conference on Nov. 19 will be crucial in shaping the industry's approach to the challenges and opportunities of this <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38334571/why-bitcoin-could-plummet-to-52-000-10x-research">rapidly changing market.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38334571/why-bitcoin-could-plummet-to-52-000-10x-research">Why Bitcoin Could Plummet To $52,000: 10x Research</a>
Image: Shutterstock

$ARB

$BTC

$ETH

$SOL

Crypto Market Cap Skyrockets 64.5% In Q1, Spot Trading Hits Multi-Year Highs

WULF

TeraWulf Option Alert: Aug 16 $5.5 Calls Sweep (46) near the Ask: 3000 @ $0.25 vs 11299 OI; Earnings 5/13 Before Open [est] Ref=$2.27

WIIM

Meta shares are trading lower after Apple took down WhatsApp and Threads from its China App Store.

Baird analyst David Koning maintains Mastercard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) with a Outperform and raises the price target from $525 to $545.

Baird Maintains Outperform on Mastercard, Raises Price Target to $545

Macro Economic Events

Global

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

U.S. House Minority Leader Jeffries Says Democrats Will Provide A Majority Of Their Caucus' Votes On The Aid Bills

Baird analyst Joe Vruwink maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Outperform and raises the price target from $302 to $322.

CDNS

Baird Maintains Outperform on Cadence Design Sys, Raises Price Target to $322

BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a price target of $550.
The analyst marginally increased his first-quarter estimates for positive ad checks and Easter benefits but lowered second-quarter and 2024 estimates for recent U.S. dollar depreciation. 
Post estimates first-quarter revenue of $36.4 billion (up 27% Y/Y) above Street at $36.2 billion.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38331602/googles-deepmind-to-lead-unified-ai-charge-as-company-seeks-to-outpace-microsoft" rel="noreferrer noopener">Google&#8217;s DeepMind to Lead Unified AI Charge as Company Seeks to Outpace Microsoft</a>
He expects ad revenue to grow 26% year over year to $35.5 billion (vs. the Street at $35.4 billion), with 2 points of Q/Q acceleration.&nbsp;
Post estimates EBITDA at $20.9 billion and EPS at $4.48, above Street at $20.3 billion and $4.33, respectively.&nbsp;
For users, Sensor Tower suggests healthy Instagram users &amp; time spent (though Facebook time spent was down Y/Y).&nbsp;
Post expects first-quarter DAUs at 2.120 billion (vs. Street at 2.117 billion). The analyst noted some sentiment risk on Y/Y deceleration in the second-quarter revenue guide as the first quarter had benefitted from easy January comps, Leap Year, Easter, and FX.&nbsp;
Given recent USD depreciation, Post lowered second-quarter revenue 1% to $38.6 billion (vs Street at $38.3 billion) and expect EPS of $4.87 (vs $4.78).
Post anticipates a conservative outlook for the second quarter, projecting revenues between $36.0 billion and $39.5 billion, which encompasses the Street&#8217;s estimate of $38.3 billion. Given the strong revenue performance, the expense forecast remains steady at $94 billion to $99 billion.
The analyst remained positive on Meta and reiterated his thesis that Reels, Messaging, and AI-driven ad improvements are still early and could lead to positive product surprises and revenue momentum in 2024. 
Moreover, with a sizeable capex budget, internal AI supercomputer, in-house LLM, and custom AI chips, he noted Meta&#8217;s AI assets are underappreciated in the stock price with stock at 16x core fiscal 2025 EPS. 
Finally, there is always potential for Metaverse spend rationalization as AI focus and ROI at Meta appear to grow. Post also noted that Meta could stand to benefit the most from any restrictions imposed on TikTok.
Price Action:&nbsp;META shares traded lower by 2.89% at $487.40 on&nbsp;the last check Friday.
Also Read: <a href="https://www.benzinga.com/news/24/04/38299952/metas-strategic-ai-investments-enhance-ad-targeting-boosting-revenue-projections-analyst" target="_blank" rel="noreferrer noopener">Meta&#8217;s Strategic AI Investments Enhance Ad Targeting, Boosting Revenue Projections: Analyst</a>
Photo: Shutterstock

Social Media

Reiteration

Tech

Trading Ideas

Meta's AI Edge: Undervalued Assets Could Drive Surprising Gains, Analysts Say

Lake Street analyst Frank Takkinen initiates coverage on Cellebrite DI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLBT#NASDAQ">CLBT</a>) with a Buy rating and announces Price Target of $13.

CLBT

Lake Street Initiates Coverage On Cellebrite DI with Buy Rating, Announces Price Target of $13

Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) Thursday <a href="https://www.benzinga.com/news/earnings/24/04/38334352/blackstone-analysts-slash-their-forecasts-after-q1-earnings">reported upbeat earnings for its first quarter</a>.
The results came amid an <a href="https://www.benzinga.com/calendars/earnings">exciting earnings season</a>. Here are some key analyst takeaways from the release.
<h1 class="wp-block-heading">Goldman Sachs On Blackstone</h1>
Analyst Alexander Blostein reiterated a Neutral rating while cutting the price target to $123.
Following Blackstone's first-quarter results, the earnings estimates for 2024, 2025 and 2026 have been lowered from $4.56 per share to $4.60 per share, from $5.76 per share to $5.92 per share, and from $6.69 per share to $6.73 per share, respectively, "to reflect marginally lower FRE (fee-related earnings) estimates and a further push-out in PRE re-acceleration — mid-single digits downside vs. consensus," Blostein said in a note.
"We expect BX's near-term management fee growth to remain range-bound, but a path toward meaningful acceleration remains intact into 2H24 (+13% YoY) and into 2025 (+15% YoY)," the analyst stated. &nbsp;"In terms of activity, management highlighted a more compelling case for capital deployment, but the path to realizations remains less certain," he added.
<h1 class="wp-block-heading">BofA Securities On Blackstone</h1>
Analyst Craig Siegenthaler maintained a Buy rating while reducing the price target from $141 to $132.
Blackstone's fundamentals bottomed in 2023 and are accelerating this year, Siegenthaler said.
"Our conviction in fundraising is supported by the TAM math in the retail and insurance channels in addition to new partnership formations with banks," the analyst wrote. "While this broad improvement is largely captured in sell-side estimates in 2024, we expect upside in 2025-26," he added.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
<h1 class="wp-block-heading">JPMorgan On Blackstone</h1>
Analyst Kenneth Worthington reaffirmed a Neutral rating while lowering the price target from $105 to $100.
Blackstone's first-quarter earnings topped expectations on better real estate fee-related performance fees, Worthington said. He added that the company generated sequential growth in FRE for the first time since the second quarter of 2023.
"We remain Neutral on BX with slower fundraising this quarter and ongoing uncertainty around Real Estate performance tempering excitement around the Credit &amp; Insurance segment and the growth opportunity in Infrastructure," the analyst further wrote.
<h1 class="wp-block-heading">HSBC Research On Blackstone</h1>
Analyst Vikram Gandhi reaffirmed a Hold rating and price target of $122.
Blackstone reported broadly in-line AUM figures, Gandhi said. "AUM came in at USD1,061.3bn (+0.4% vs consensus), FEAUM at USD781.4bn (-0.4% vs consensus) and average FEAUM of USD772.0bn (0.3% miss)," he wrote.
"Net DE came in only 1.7% ahead of consensus though, while FRE margin at 57.9% was 1ppts ahead of the Street," the analyst stated.
BX Price Action: Shares of Blackstone had declined by 1.04% to $119.05 at the time of publication on Friday.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38333186/increase-in-card-member-spending-boosts-amex-q1-revenue-company-eyes-steady-annual-growth">Increase In Card Member Spending Boosts Amex Q1 Revenue, Company Eyes Steady Annual Growth</a>
Photo: Shutterstock