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Chinese stocks have rallied 19% from 2024 lows, fueled by economic recovery &amp; improved private sector activity. Overestimation of recovery is a risk.

Chinese Stocks Surge As Investors Bet On Economic Turnaround: 7 ETFs To Watch

Memecoins took center stage on one of the best days for the cryptocurrency market, with the likes of Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>) turning out to be the highest gainers.&nbsp;
What Happened: The market <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38929249/crypto-market-rallies-as-sec-reportedly-moves-forward-with-ether-etf-process">rallied on higher expectations of an</a> Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETF approval by the SEC, resulting in the highest market cap growth in three months, according to Santiment.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4c8;The hype surrounding <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>&#39;s first spot <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> has been a catalyst for one of <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a>&#39;s top 5 days of 2024. <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>, <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>, <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a>, &amp; <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a> are all over +20% in 24 hours. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&#39;s jump to $71.4K for the 1sttime in 6 weeks is almost an afterthought. <a href="https://t.co/M1HK8sT5jw">https://t.co/M1HK8sT5jw</a> <a href="https://t.co/fC9735hQ0e">pic.twitter.com/fC9735hQ0e</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1792723841317519598?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
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Price Action: While the rally was spurred by developments around Ether, memecoins stole the highlight yet again, as popular coins like PEPE and BONK grew by 27% and 23% respectively, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;12gfrli&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNjI1MTA3NC4yMC4xLjE3MTYyNTY3NDUuMC4wLjA.">data from Benzinga Pro.</a>
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based PEPE rose to an all-time high of $0.000011, while the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin BONK bumped to a two-month high of $0.000031. The rest of the meme coin market also reported significant gains.
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10 p.m. EST)</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+27%</td>
<td>$0.000031</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+23%</td>
<td>$0.000011</td>
</tr>
<tr>
<td>Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>)</td>
<td>+10.48%</td>
<td>$0.000211</td>
</tr>
</tbody>
</table>
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Pepe's trading volume surged to $2.16 billion in the last 24 hours, exceeding bigger coins with larger market caps like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Bonk clocked a volume of $850 million, trumping Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)
Why It Matters: The latest rally reflected a strong appetite for meme coins, the class of cryptocurrencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38919018/meme-coins-still-have-plenty-of-upside-left-trader-predicts-trump-boden-to-dominate-electi">that has witnessed significant gains</a> in the year.
Social analytics platform LunarCrush highlighted bullish social media discourse around the two coins, with 82% of all BONK posts, and 80% of PEPE posts being positively weighted.
Such degrees of optimism could potentially help sustain the rally for the two meme coins.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4ca;The charts are looking healthy across crypto today with both social and market activity zooming higher. Current leaders&#8230; Ethereum <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Solana <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> Bonk <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a> CANOT <a href="https://twitter.com/search?q=%24CANTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CANTO</a> Pendle <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PENDLE</a> DOG•GO•TO•THE•MOON <a href="https://twitter.com/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOG</a> Brett <a href="https://twitter.com/search?q=%24BRETT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BRETT</a> Gnosis <a href="https://twitter.com/search?q=%24GNO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GNO</a> Pepe <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> FriendTech <a href="https://twitter.com/search?q=%24FRIEND&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FRIEND</a>… <a href="https://t.co/rkTbVmqKTO">pic.twitter.com/rkTbVmqKTO</a>
&mdash; LunarCrush (@LunarCrush) <a href="https://twitter.com/LunarCrush/status/1792717851666919738?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
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Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38930747/bitcoin-ethereum-dogecoin-shoot-up-on-one-of-the-best-days-for-crypto-in-2024-amid-ether-e">Bitcoin, Ethereum, Dogecoin Shoot Up On One Of The Best Days For Crypto In 2024 Amid Ether ETF Approval Buzz: Analyst Flags &#8216;Robust&#8217; US Investor Demand for King Crypto</a>

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Bonk, Pepe Outstrip Gains Of Bitcoin, Ethereum Amid Searing Hot Rally — Beat Biggies Dogecoin And Shiba Inu In Trading Volumes

Federal Deposit Insurance Corp Chairman Martin Gruenberg has announced his resignation following a report that exposed rampant sexual harassment within the agency.
What Happened: Gruenberg has agreed to step down once his successor is confirmed, <a href="https://www.wsj.com/politics/policy/fdic-chairman-martin-gruenberg-resignation-ab7fed5f?mod=hp_lead_pos1">according</a> to The Wall Street Journal. This decision was made in response to mounting pressure from both Democratic and Republican lawmakers.
"It has been my honor to serve at the FDIC as Chairman, Vice Chairman, and Director since August of 2005," Gruenberg wrote to staff, according to the report.
The White House announced that President Biden will soon nominate a new FDIC chairman and expects the Senate to move quickly to confirm the nominee.
The report, which was commissioned in response to a Journal investigation, revealed allegations of widespread sexual harassment, discrimination, and bullying at the FDIC. This led to a call for new leadership at the agency by the Democratic chairman of the Senate Banking Committee, Sen. Sherrod Brown (D-Ohio).
Sheila Bair, a Republican who served as FDIC chair from 2006 to 2011, called on Monday for Gruenberg to declare his intention to resign once a new chair is confirmed. She wrote on X, &#8220;I have known and worked with Chairman Gruenberg for years. But there is a desperate need for change at the FDIC. This controversy is hurting him and his agency. For his own sake and everyone at the FDIC, he should announce his intention to resign effective with the appointment and confirmation of a new Chair.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have known and worked with Chairman Gruenberg for years. But there is a desperate need for change at the FDIC. This controversy is hurting him and his agency. For his own sake and everyone at the FDIC, he should announce his intention to resign effective with the appointment…
&mdash; Sheila Bair (@SheilaBair2013) <a href="https://twitter.com/SheilaBair2013/status/1792570688248631561?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
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<a href="https://x.com/SheilaBair2013/status/1792570688248631561"></a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38908102/dogecoin-rises-4-45-amidst-anonymous-120-million-doge-transfer-to-robinhood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Rises 4.45% Amid Anonymous 120 Million DOGE Transfer To Robinhood</a>
Gruenberg, who has been at the helm of the FDIC since January 2023, has faced criticism from both parties over his handling of the harassment allegations and his own alleged temper. The report also highlighted the toxic culture at the agency, which Gruenberg has pledged to address.
Why It Matters: The FDIC, under Gruenberg&#8217;s leadership, has been embroiled in controversy over the past year. In March 2023, Gruenberg warned of the risk of banks holding <a href="https://www.benzinga.com/news/23/03/31383630/regulator-knew-days-before-svb-collapse-that-620-billion-in-losses-lurked-in-financial-system">unrealized losses</a> just days before the collapse of Silicon Valley Bank. This raised questions about the stability of the banking system, which Gruenberg and other regulators defended in a <a href="https://www.benzinga.com/government/23/03/31533829/banking-system-is-sound-say-officials-in-the-face-of-a-flurry-of-questions-from-senate-banking-commi">Senate Banking Committee hearing</a> later that month.
Despite this, Gruenberg had the support of some prominent figures. Recently, Sen. Elizabeth Warren (D-Mass.) <a href="https://www.benzinga.com/government/24/05/38747370/maxine-waters-elizabeth-warren-back-fdic-chairman-with-agency-under-fire-for-toxic-workplace">defended Gruenberg</a> amid the allegations of a toxic workplace at the FDIC. However, the mounting pressure from lawmakers and the report&#8217;s findings ultimately led to Gruenberg&#8217;s resignation.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38910906/bitcoin-dogecoin-ethereum-retrace-on-profit-taking-by-retail-investors-analyst-predicts-pa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin, Ethereum Retrace On Profit-Taking By Retail Investors: Analyst Predicts Parabolic Rise For King Crypto Following Consolidation Phase</a>
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FDIC Chairman Martin Gruenberg To Step Down Amid Widespread Sexual Harassment Allegations At The Agency

On Monday, Cathie Wood&#8217;s Ark Invest made some significant trades, with the most notable being the purchase of Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) and Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares.
The Shopify Trade
Ark Invest&#8217;s ETFs, including Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>), made a significant move by purchasing a total of 34,060 shares of Shopify. This move came after the company released its first-quarter earnings report earlier in the month. The trade was valued at approximately $2 million, based on Shopify's closing price of $58.91 on the day.
Shopify&#8217;s stock plunged after it reported its quarterly results, with the company clocking <a href="https://www.benzinga.com/markets/equities/24/05/38806199/cathie-woods-ark-invest-buys-18m-in-shopify-stock-amid-price-dip-sells-shares-in-bitcoin-bull-ja">fiscal first-quarter 2024</a> revenue growth of 23% year-over-year to $1.86 billion. However, the e-commerce platform company reported a loss of $ 273 million after a profit of $68 million a year ago. Despite the loss, Ark Invest saw potential in the company and made a significant investment earlier in the month.
The AMD Trade
Ark Invest&#8217;s ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) also made a significant move by purchasing 10,459 shares of Advanced Micro Devices Inc. The trade was valued at approximately $1.74 million, based on AMD&#8217;s closing price of $166.33 on the day.
AMD had failed to impress at the end of April, unlike Nvidia Corporation which has been crushing investor expectations on the back of soaring AI chip sales. However, Microsoft Corp is <a href="https://www.benzinga.com/markets/equities/24/05/38890649/microsoft-unveils-amd-powered-ai-chips-to-rival-nvidia-report">planning to introduce</a> Advanced Micro Devices Inc's artificial intelligence chips to its cloud computing customers, aiming to rival Nvidia Corp's components.
Other Key Trades: 
<ul>
<li>Ark Invest&#8217;s ARKF sold shares of Global-E Online Ltd (GLBE). Ark Invest&#8217;s ARKF also sold stock of Robinhood Markets Inc (HOOD). </li>
<li>Ark Invest&#8217;s ARK Genomic Revolution ETF (ARKG) sold shares of Exact Sciences Corp (EXAS). Ark Invest&#8217;s ARKG bought shares of CRISPR Therapeutics AG (CRSP). </li>
<li>Ark Invest&#8217;s ARKG sold shares of Teladoc Health Inc (TDOC).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/tech/24/05/38919616/apples-groundbreaking-iphone-16-could-spark-another-stock-surge-building-on-an-800-growth-over-the-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Groundbreaking iPhone 16 Could Spark Another Stock Surge Building On An 800% Growth Over The Last Decade</a>
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Cathie Wood's Ark Invest Buys Shares Of Nvidia-Rival AMD, Continues Its Shopify Share-Buying Spree

On Monday, major U.S. indices ended the regular session mixed. The Dow Jones Industrial Average dropped 0.49%, closing at 39,806.77. Meanwhile, the S&amp;P 500 inched up by 0.09%, ending at 5,308.13, and the Nasdaq rose by 0.65%, finishing at 16,794.87.
Information technology shares led the way, rising by 1.3%, while financial shares lagged, falling by 0.7%. European and Asian markets also posted gains, with notable increases in Germany&#8217;s DAX and Japan&#8217;s Nikkei.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
Shares of Trump Media &amp; Technology Group fell by 4.98%, closing at $48.38. The stock hit an intraday high of $50.55 and a low of $47.84. Its 52-week range is $22.55 to $79.38. The Donald Trump-owned company reported a loss of $327.6 million for the quarter, including $311 million in non-cash expenses related to its merger with Digital World. This merger, a special purpose acquisition company, provided a quicker route to go public. More details can be found <a href="https://www.benzinga.com/news/earnings/24/05/38930777/trump-media-technology-group-reports-300m-loss-in-first-earnings-since-going-public-truth-social-pa">here</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38928371/gamestop-amc-entertainment-shares-spike-monday-afternoon-whats-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GameStop, AMC Entertainment Shares Spike Monday Afternoon: What&#8217;s Going On?</a>
Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)
Marathon Digital Holdings Inc. surged by 14.76%, closing at $22.32. The stock reached an intraday high of $22.82 and a low of $18.87. Its 52-week range is $7.16 to $34.09. The cryptocurrency market saw a significant rally, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) nearing its all-time highs. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) gained over 20%, breaking $3,700 for the first time in over two months. Ethereum&#8217;s Open Interest also increased by nearly 28%, hitting record highs of $14.95 billion. More details can be found <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38930747/bitcoin-ethereum-dogecoin-shoot-up-on-one-of-the-best-days-for-crypto-in-2024-amid-ether-e">here</a>.
Zoom Video Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>)
Zoom Video Communications Inc. saw a slight decline of 0.11%, closing at $64.09. The stock&#8217;s intraday high was $64.5, and the low was $63.57. Its 52-week range is $58.87 to $75.91. Zoom is set to report its fiscal first-quarter results after the market close. Analysts expect earnings of $1.20 per share and revenue of $1.126 billion. Zoom has consistently beaten analyst estimates in the past six quarters. More details can be found <a href="https://www.benzinga.com/news/earnings/24/05/38924427/whats-going-on-with-zoom-video-stock-monday">here</a>.
Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>)
Palo Alto Networks Inc. rose by 1.86%, closing at $323.77. The stock&#8217;s intraday high was $324.68, and the low was $314.58. Its 52-week range is $188.3 to $380.84. The company reported quarterly earnings of $1.32 per share, beating the analyst consensus estimate of $1.25 by 5.6%. More details can be found <a href="https://www.benzinga.com/news/earnings/24/05/38926952/palo-alto-networks-shares-drop-after-q3-results-in-line-guidance-the-details">here</a>.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla Inc. shares fell by 1.41%, closing at $174.95. The stock hit an intraday high of $177.75 and a low of $173.52. Its 52-week range is $138.8 to $299.29. The company is continuing its layoffs, which are expected to last through June. Employees are reportedly anxious about their job security. More details can be found <a href="https://www.benzinga.com/news/24/05/38921912/tesla-layoffs-to-continue-through-june-morale-low-among-workers">here</a>.
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Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38899283/whats-going-on-with-broadcom-shares-friday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Broadcom Shares Friday?</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 
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Trump Media & Technology, Marathon Digital, Zoom Video, Palo Alto, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Tesla and SpaceX CEO Elon Musk has once again targeted Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) after a clip of Satya Nadella surfaced on social media talking about <a href="https://www.benzinga.com/news/24/03/37877280/microsoft-launches-new-ai-powered-surface-devices-for-businesses-set-to-ship-in-april">new AI capabilities in</a> Windows PCs. 
What Happened: In an interview with Wall Street Journal which was made public on Monday, <a href="https://www.benzinga.com/news/24/01/36485365/microsoft-adds-dedicated-copilot-key-to-windows-pcs-and-laptops-wants-2024-to-be-year-of-ai-pc">Nadella spoke about new AI capabilities</a> of Microsoft&#8217;s Copilot+PCs with Qualcomm chips and AI Windows.
One of the features was &#8220;Recall,&#8221; which enables Windows to take constant screenshots of the user&#8217;s screen and use a generative AI model to process the data, making it searchable. 
The clip from the video was shared by a user on X, formerly Twitter, and it sparked a strong reaction. Musk also replied saying, &#8220;Maybe it is time to move consumer desktops to&nbsp;Linux.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38910973/elon-musk-endorses-this-apple-product-as-great-and-no-its-not-iphone-or-vision-pro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Endorses This Apple Product As &#8216;Great&#8217; — And, No It&#8217;s Not iPhone Or Vision Pro</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Maybe it is time to move consumer desktops to Linux
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1792693133651918989?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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During the interview, when Nadella was asked about people&#8217;s concerns over this feature, he said, &#8220;You have to put two things together. This is my computer, this is my Recall, and it&#8217;s all being done locally. So that&#8217;s the promise.&#8221;
Adding, &#8220;That&#8217;s one of the reasons why Recall works as a magical thing, because I can trust it that it is on my computer.&#8221;
Moreover, users can also restrict Recall from taking screenshots if they are concerned about privacy or don&#8217;t want to use the feature. 
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.
Why It Matters: Musk&#8217;s suggestion&nbsp;to move consumer desktops to&nbsp;Linux is not the first time he has criticized Microsoft&#8217;s AI capabilities. Earlier this year, he complained about <a href="https://www.benzinga.com/news/24/02/37304788/elon-musk-buys-a-new-windows-pc-fears-signing-in-will-give-microsoft-ai-access-to-his-computer-this">Microsoft&#8217;s AI asking for access to his new PC</a>. 
The tech mogul said he bought a new PC but couldn&#8217;t access it without creating a Microsoft account. &#8220;Which also means giving their AI access to my computer! This is messed up,&#8221; he stated at the time. 
Last year, <a href="https://www.benzinga.com/news/23/11/35636972/elon-musk-once-again-slams-microsoft-openai-partnership-they-own-the-code-the-weights-everything">Musk also accused Microsoft</a> of controlling ChatGPT-parent OpenAI, stating, &#8220;They own the code, the weights, everything! And GPT runs in a Microsoft data center.&#8221;
<a href="https://www.benzinga.com/news/23/05/32439672/satya-nadella-says-elon-musks-claims-about-microsoft-controlling-openai-factually-not-correct">Nadella has&nbsp;denied&nbsp;these claims</a>, asserting that OpenAI is independent and operates on its own. &#8220;Look, while I have a lot of respect for Elon and all that he does, I'd just say that's factually not correct,&#8221; Nadella said in May 2023. 
Check out more of Benzinga&#8217;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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38849496/elon-musk-recalls-breaking-friendship-with-googles-larry-page-over-ilya-sutskever-linchpin-for-opena?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Recalls Breaking Friendship With Google&#8217;s Larry Page Over Ilya Sutskever: &#8216;Linchpin For OpenAI Being Successful&#8217;</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.

MSFT

Elon Musk Suggests Shifting 'Consumer Desktops To Linux' As Satya Nadella Promotes Microsoft's New Windows AI Feature 'Recall' With Photographic Memory

Trump Media and Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the owner of Donald Trump's social networking site Truth Social, reported a loss of over $300 million last quarter, marking its <a href="https://d2ghdaxqb194v2.cloudfront.net/2660/194040.pdf">first earnings report</a> as a publicly traded company.
What Happened:&nbsp;For the three months ending Mar. 31, the company posted a loss of $327.6 million, which included $311 million in non-cash expenses related to its merger with Digital World, a company created specifically to merge with a target business.
This merger is an example of a special purpose acquisition company, which provides young companies with quicker and easier routes to go public.
Trump Media reported $770,500 in revenue for the first quarter, primarily from its &#8220;nascent advertising initiative.&#8221; 
"At this early stage in the company's development, TMTG remains focused on long-term product development, rather than quarterly revenue," said Trump Media in its earnings release.
See Also: <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: &#8216;I Just Wanna Debate This Guy, But &#8230;&#8217;</a>
Why It Matters: The financial report comes after a series of significant events for Trump Media. In early May, the company handed Trump <a href="https://www.benzinga.com/markets/equities/24/05/38545262/trumps-media-company-hands-ex-president-36m-djt-shares-worth-1-8b-pushing-his-stake-beyond-5-7b">a stock bonus</a> worth $1.8 billion, pushing his stake in the company beyond $5.7 billion. This was awarded for maintaining the stock price above $17.50 for 20 consecutive trading days.
Shortly after, Trump Media&#8217;s tech-ad partner, Rumble, sued Google for over $1 billion, <a href="https://www.benzinga.com/news/24/05/38807076/trump-media-firms-tech-ad-partner-rumble-sues-google-for-1b-over-alleged-ad-monopoly">alleging monopolistic practices</a> in its digital advertising products.
Trump Media also <a href="https://www.benzinga.com/markets/equities/24/05/38649236/trump-media-technology-overhauls-auditors-amid-sec-fraud-allegations">overhauled its auditors</a> amid SEC fraud allegations and called for a legislative probe into the short-selling of its shares, a move that was <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38607861/trump-medias-call-for-short-selling-probe-a-diversion-tactic-says-herb-greenberg-be">criticized as a &#8220;diversion tactic&#8221;</a> by financial journalist Herb Greenberg.
Price Action: DJT traded at $48.45 in after-hours on Monday, up 0.14%. The stock has risen 177.25% year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38908073/trump-vs-biden-poll-reveals-surprise-preference-for-one-candidate-over-other-when-it-comes-to-econom?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: Poll Reveals Surprise Preference For One Candidate Over Other When It Comes To Economy</a>
Image Via Shutterstock 
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Earnings

Trump Media & Technology Group Reports Over $300M Loss In First Earnings Since Going Public: Truth Social Parent 'Remains Focused On Long-Term Product Development'

The cryptocurrency market rallied handsomely on Monday over increased odds of approval of spot Ethereum ETFs, with Bitcoin coming close to breaking its all-time highs.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+8.05%</td>
<td>$71,549.15</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+20.45%</td>
<td>$3,691.47</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+11.71%</td>
<td>$0.1661</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The second-largest cryptocurrency, Ether, raked in gains of more than 20% on the day, resulting in a breach of $3,700 for the first time in more than two months.
The upsurge caused Ethereum's Open Interest to shoot up by nearly 28% over the last 24 hours, reaching record highs of $14.95 billion.
The rally came after two prominent Bloomberg analysts, Eric Balchunas and James Seyffart raised their odds of spot Ether ETF approval to 75% from 25%. The final deadline for various applications falls later this week.
Bitcoin added significant gains as well, surging past $71,000 in the last 24 hours. The King Crypto was withing touching distance of breaching its all-time high of $73,000 set in mid-March.
The bull run triggered liquidations worth nearly $350 million in the last 24 hours, with short liquidations soaring to $272 million.
The Cryptocurrency Fear &amp; Greed Index started flashing " Extreme Greed" after more than a month, signaling high degree of FOMO in the market.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Pyth Network (PYTH)</td>
<td>+28.92%</td>
<td>$0.48</td>
</tr>
<tr>
<td>Bonk (BONK)</td>
<td>+26.81%</td>
<td>$0.00003159</td>
</tr>
<tr>
<td>Pendle (PENDLE)</td>
<td>+24.96%</td>
<td>$5.89</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap stands at $2.62 trillion, following a 9.32% jump in the last 24 hours.
Technology stocks ascended during the trading session, with the Nasdaq Composite closing at a record high of 16,794.87, following a 0.65% gain. The Dow Jones Industrial Average fell 0.48% to end the day at 39,806.77, while the S&amp;P 500 added 0.09%, or 4,86 points, to close at 5,308.13.
The gains were driven by optimistic calls by analysts on NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) which is due to report its first-quarter earnings on Wednesday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: According to on-chain analytics firm CryptoQuant, Bitcoin's Coinbase Premium Gap surged, indicating "robust" demand from Institutional investors in the U.S.
<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/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> surged past $70K, going up over 6% in the last 24 hours. Elevated premium values on Coinbase suggest robust buying pressure from US investors. <a href="https://t.co/fr2ZMz4Roo">pic.twitter.com/fr2ZMz4Roo</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1792650484689289583?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Prominent cryptocurrency analyst Kevin noted that Bitcoin was testing the final resistance before it eventually reclaimed its previous highs.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Currently testing the final resistance before we make it back to all time highs. <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/ExshFOBtMo">https://t.co/ExshFOBtMo</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1792622613790929214?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">Senate Votes To Overturn Controversial SEC Crypto Rule, But Will Biden Veto It?</a>

Movers

Trading Ideas

NVDA

Bitcoin, Ethereum, Dogecoin Shoot Up On One Of The Best Days For Crypto In 2024 Amid Ether ETF Approval Buzz: Analyst Flags 'Robust' US Investor Demand for King Crypto

Actress&nbsp;Scarlett Johansson&nbsp;has hired &#8220;legal counsel&#8221; against&nbsp;OpenAI&nbsp;for allegedly replicating her voice <a href="https://www.benzinga.com/news/23/07/33228449/hollywood-wants-to-use-ai-replicas-of-actors-for-eternity-and-give-them-just-one-days-pay">using artificial intelligence technology</a>.
What Happened: On Monday, Johansson said that she was &#8220;forced to hire&#8221; legal counsel to address the use of her voice by OpenAI&#8217;s chatbot. The actress revealed that she was approached by OpenAI CEO&nbsp;Sam Altman in September to lend her voice to the company&#8217;s AI-powered chatbot, ChatGPT. 
However, she declined the offer &#8220;after much consideration and for personal reasons,&#8221; <a href="https://www.bloomberg.com/news/articles/2024-05-20/scarlett-johansson-hired-lawyers-to-push-back-on-openai-voice?srnd=technology-vp">reported</a> Bloomberg.
&#8220;He told me that he felt that by my voicing the system, I could bridge the gap between tech companies and creatives and help consumers to feel comfortable with the seismic shift concerning humans and AI,&#8221; she said.
<a href="https://in.benzinga.com/content/38808464/you-can-use-chatgpt-4os-new-voice-feature-for-free-right-now-heres-how">OpenAI unveiled new audio tools</a> last week, accompanied by demonstrations that included a voice called, Sky, which Johansson claims sounds &#8220;eerily similar&#8221; to her own. The company has since replaced Sky with a different voice, Juniper. 
&#8220;When I heard the released demo, I was shocked, angered and in disbelief that Mr. Altman would pursue a voice that sounded so eerily similar to mine,&#8221; Johansson said in the statement.
See Also: <a href="https://www.benzinga.com/news/24/05/38909683/apples-wwdc-announcements-may-not-be-as-impressive-as-openai-google-says-gurman-they-can-improve-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s WWDC Announcements May Not Be As &#8216;Impressive&#8217; As OpenAI, Google, Says Gurman: &#8216;They Can Improve Their AI Technology Quickly And Keep Wowing Users&#8217;</a>
Why It Matters: In a blog post released on Sunday, OpenAI denied intentionally mimicking Johansson&#8217;s voice, stating that Sky&#8217;s voice belongs to a different actress using her natural speaking voice.
&#8220;We believe that AI voices should not deliberately mimic a celebrity&#8217;s distinctive voice—Sky's voice is not an imitation of Scarlett Johansson but belongs to a different professional actress using her own natural speaking voice. To protect their privacy, we cannot share the names of our voice talents,&#8221; the company stated.
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.
Johansson is known for portraying characters like the Marvel superhero Black Widow. She also played the role of an AI virtual assistant in the 2013 film &#8220;Her.&#8221; The link between OpenAI and the movie was highlighted further by Altman, when he posted the word &#8220;her&#8221; on X, formerly Twitter, shortly after the release of the <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">company&#8217;s newest AI model</a>.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">her
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1790075827666796666?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The use of AI to replicate celebrity voices has been a growing concern. In 2023, venture capitalist&nbsp;Tim Draper&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35342508/tim-draper-believes-ai-is-getting-smarter-warns-of-crypto-scammers-mimicking-his-voice">warned of scammers using AI to mimic his voice</a>&nbsp;for fraudulent activities in the cryptocurrency space. This issue has also affected the music industry, with artists like&nbsp;Bad Bunny&nbsp;expressing outrage over&nbsp;<a href="https://www.benzinga.com/news/23/12/36105714/bad-bunnys-outrage-against-ai-imitation-rapper-tells-fans-if-you-like-viral-tiktoks-i-dont-want-you">AI imitations of their songs going viral</a>.
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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game">OpenAI Just Dropped GPT-4o And These 10 Examples Show It Could Completely Change AI Chatbot Game</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.

Legal

Media

Scarlett Johansson 'Forced To Hire' Lawyer Over AI Voice Mimicry By Sam Altman-Led OpenAI: 'I Was Shocked, Angered And In Disbelief'

Netflix Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) hit series &#8220;Baby Reindeer&#8221; could face potential legal action. According to Piers Morgan, this could be a &#8220;big problem&#8221; for the streaming platform, Richard Gadd, former comedian on whom the series is based and Clerkenwell Films, the producers. 
What Happened: Gadd has been accused of defaming a real-life individual, Fiona Harvey, who claims to be the inspiration for a character in the show. Harvey has stated her intention to take legal action against Gadd and possibly Netflix, although no formal claims have been filed yet, <a href="https://variety.com/2024/tv/global/baby-reindeer-does-real-martha-have-case-libel-netflix-1236006607/">reported</a> Variety.
&#8220;Baby Reindeer&#8221; provides a stark portrayal of Richard Gadd&#8217;s experiences in his twenties as he pursued success in the entertainment industry. Along the way, he becomes a victim of sexual assault by a prominent figure in the comedy scene and faces harassment from a stalker he encountered during his time working at a pub.
See Also: <a href="https://www.benzinga.com/news/24/05/38906742/amid-mass-exodus-from-openais-ai-safety-team-insider-says-trust-collapsing-bit-by-bit-in-ceo-sam-alt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid &#8216;Mass Exodus&#8217; From OpenAI&#8217;s AI Safety Team, Insider Says &#8216;Trust Collapsing Bit By Bit&#8217; In CEO Sam Altman: Report</a>
Harvey, who asserts herself as the real stalker, has denied the allegations in an interview done earlier this month with Morgan. She admitted sending him emails but denied stalking him. 
&#8220;It will take some time to gather all of the evidence and prepare a legal claim, but that process is well underway,&#8221; said U.K. lawyer Chris Daw KC, who is not yet officially representing Harvey in a legal capacity. &#8220;We are actively considering defamation, image rights and all other potential claims, arising from the use of Fiona's image in &#8216;Baby Reindeer.'&#8221;
Morgan <a href="https://www.bbc.com/news/world-europe-69034417">spoke</a> with BBC&#8217;s Laura Kuenssberg about the issue and said that issues with &#8220;Baby Reindeer&#8221; is &#8220;a big problem for Netflix, Richard Gadd and Clerkenwell Films.&#8221; He criticized the series for labeling it as a true story, especially after Harvey told him that she hadn&#8217;t been convicted of stalking and denied stalking Gadd.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The potential legal battle comes at a time when &#8220;Baby Reindeer&#8221; has been a major success for Netflix. The series has been a top 10 <a href="https://www.netflix.com/tudum/top10/united-states/tv">most watched</a> TV show on Netflix in the U.S.
Legal experts have weighed in on the potential case, with Callum Galbraith, head of media disputes at Hamlins, stating that if he had a client in Harvey's position, &#8220;You'd immediately be thinking about whether there is a possible libel action that can be brought on the basis that the allegations are untrue and are defamatory insofar as they lower her reputation in the eyes of what other people would think.&#8221; 
However, the truth is a defense, and if the producers can show that the allegations are substantively correct, they would prevail.
Another potential claim is an invasion of privacy under the Human Rights Act and Data Protection Act. To succeed, Harvey would have to show that her &#8220;reasonable expectation of privacy&#8221; was infringed and that her privacy right outweighed Netflix&#8217;s interest in telling Gadd&#8217;s story.
Check out more of Benzinga's Consumer Tech coverage by <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/24/05/38909116/openais-new-model-gpt-4o-elon-musks-high-regard-for-ilya-sutskever-and-microsofts-china-move-this-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s New Model GPT-4o, Elon Musk&#8217;s High Regard For Ilya Sutskever And Microsoft&#8217;s China Move: This Week In Artificial Intelligence</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Entertainment

NFLX

Netflix's 'Baby Reindeer' Could Face Legal Action, Piers Morgan Says It's A 'Big Problem' For The Platform And Richard Gadd

Shares of streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) hit new 52-week highs Monday, which comes as the company recently shared an update on its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38788401/netflix-stock-gets-upfront-optimism-boost-from-key-ad-tier-updates-nfl">ad-supported plan.</a>
An analyst praises the company's recent updates and landing two National Football League games on Christmas.
The Netflix Analyst: Macquarie analyst Tim Nollen has an Outperform rating and a $685 price target on Netflix.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda">Netflix Q1 Earnings Highlights: Revenue Beat, EPS Beat, 9.33 Million Paid Subs Added, Ad-Tier Plan Update And More</a>
The Analyst Takeaways: Recent deals with the NFL and advertising partnerships were well received by Nollen.
Nollen said that Netflix made three key announcements that are all linked. The three items were the NFL Christmas Day rights, highlighting The Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Magnite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) as programmatic advertising partners, and updating that its ad-supported plan has reached 40 million monthly active users.
"The common theme here is advertising," Nollen said.
The analyst said Netflix is paying $75 million per game to host two Christmas Day games in 2024 and will get at least one game in each of 2025 and 2026.
"These are global rights, to be available to viewers on the ad tier in the 12 countries that have one, as well as on ad-free tiers. As such it looks like a good price compared with the $110 million Peacock paid to exclusively host an NFL playoff game this year."
Nollen said the NFL deal could help Netflix boost its advertising efforts and likely would not have been signed without having an ad-supported plan.
The partnerships with Trade Desk, Google and Magnite were not a surprise to the analyst.
"The company is building ad inventory faster than it can sell, and acknowledges that as it scales, there is a gap that may last for years."
Nollen said the recent moves by Netflix help support a positive view of the stock.
"The company is taking deliberate steps to improve its ad business, building what it can and partnering with the experts on what it cannot, to serve a large engaged audience."
NFLX Price Action: Netflix shares were up 3% to $640.82 on Monday. Netflix stock has traded between $344.73 and $644.37 over the last 52-weeks with the 52-week high set Monday. Netflix stock is up 83% over the last year.
Photo by rafastockbr on Shutterstock
Read Next: <a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti">2024 NFL Schedule Unpacked: Media Partners Win, Taylor Swift Tour Dates Considered, New Betting Odds And More</a>

Analyst Color

Price Target

Reiteration

Analyst Ratings

GOOG

GOOGL

MGNI

Netflix Stock Hits 52-Weeks High After NFL Deal, Ad-Supported Plan Update: Analyst Says 'The Common Theme Here Is Advertising'

In the ongoing hush money trial involving former President Donald Trump, a defense witness faced the threat of removal due to his contemptuous behavior, as revealed in a court transcript.
What Happened: Judge Juan Merchan cleared the courtroom of reporters before reprimanding Robert Costello, a former federal prosecutor. Costello&#8217;s conduct on the stand, which included muttered comments and continued speaking after objections were upheld, led to the judge&#8217;s warning, <a href="https://apnews.com/article/trump-trial-hush-money-michael-cohen-363a86879b97d2367831b1392f42689d">reported</a> AP News.
Costello, who has a significant role in the case due to his contentious relationship with Trump&#8217;s ex-lawyer Michael Cohen, was warned by Judge Merchan, &#8220;I'm putting you on notice that your conduct is contemptuous. If you try to stare me down one more time, I will remove you from the stand.&#8221;
Trump&#8217;s legal team has asked the judge to halt the case and dismiss the charges after the prosecution finished presenting their evidence. The trial is set to continue on Tuesday with further testimony from Costello.
The hush money trial centers on claims that Trump attempted to suppress damaging stories about himself and then falsified internal business records to conceal it as part of a scheme to unlawfully influence the 2016 presidential election.
See Also: <a href="https://www.benzinga.com/news/24/05/38907930/anthony-scaramucci-labels-donald-trumps-hush-money-trial-as-obligatory-loyalty-test-for-republicans?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Labels Donald Trump&#8217;s Hush Money Trial As &#8216;Obligatory Loyalty Test&#8217; For Republicans, Says &#8216;It&#8217;ll Never Be Enough For Donald Trump&#8217;</a>
Why It Matters: This trial has been a focal point of public interest, with speculation about whether <a href="https://www.benzinga.com/general/politics/24/05/38920782/will-donald-trump-testify-in-hush-money-criminal-trial">Trump himself would testify</a>. The case alleges that Trump falsified business records related to hush money payments made to adult actress Stormy Daniels.
Earlier in the trial, Trump voiced his <a href="https://www.benzinga.com/news/24/05/38805336/trump-slams-judge-defends-actions-following-michael-cohens-testimony-in-hush-money-trial-really-a-ve">discontent with the presiding judge</a> after the testimony of his former lawyer Cohen. Trump&#8217;s criticism of the judge, along with the presence of several elected officials at the courthouse, underscores the high-profile nature of this case and its potential implications for Trump&#8217;s legacy.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38910720/sickening-trumps-nra-endorsement-slammed-by-birmingham-mayor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Sickening&#8217; — Trump&#8217;s NRA Endorsement Slammed By Birmingham Mayor</a>
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Politics

General

Trump's Hush Money Trial Takes A Dramatic Turn As Judge Threatens To Eject Defense Witness: 'If You Try To Stare Me Down One More Time...'

In the latest development of an ongoing feud, Rep. Marjorie Taylor Greene (R-Ga.) has posted a workout video as a response to Rep. Jasmine Crockett (D-Texas), defending her physical appearance.
What Happened: Greene uploaded a video on X, formerly Twitter, of herself weightlifting, accompanied by Sia&#8217;s 2016 song, &#8220;Unstoppable&#8221;. In the caption, the 49-year-old congresswoman stated, &#8220;Yes my body is built and strong NOT with nips, tucks, plastic, or silicone, but through a healthy lifestyle,&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes my body is built and strong &#x1f4aa; NOT with nips, tucks, plastic, or silicone, but through a healthy lifestyle. Soon turning 50 years old, God willing, I will continue to lift, run, swim, play sports, surf, ski, climb and LIVE this life to the fullest and enjoy every single… <a href="https://t.co/DSkqJEuEnM">pic.twitter.com/DSkqJEuEnM</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1792557434541596962?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This video comes in the wake of a confrontation with Crockett during a House Oversight Committee hearing last week. The argument included a jab at Greene&#8217;s physique by Crockett, who later initiated a fundraiser selling T-shirts with the phrase: &#8220;Bleach Blonde Bad Built Butch Body,&#8221; <a href="https://thehill.com/homenews/house/4674909-marjorie-taylor-greene-workout-video-response-jasmine-crockett/">reported</a> The Hill.
See Also: <a href="https://www.benzinga.com/news/24/05/38909985/this-important-evidence-could-determine-donald-trumps-fate-in-his-hush-money-trial?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Important Evidence Could Determine Donald Trump&#8217;s Fate In His Hush-Money Trial</a>
Greene, a known enthusiast of the fitness program CrossFit, has previously posted workout videos. In 2020, she shared a clip of herself exercising in her hotel room as a protest against COVID-19 pandemic-related shutdowns.
Why It Matters: This incident is a continuation of a contentious relationship between the two representatives. According to a <a href="https://www.benzinga.com/news/24/05/38907900/marjorie-taylor-greene-accused-of-racist-behavior-by-jasmine-crockett-over-fake-eyelashes-comment">Benzinga report</a>, Crockett accused Greene of racism following a comment about her &#8220;fake eyelashes&#8221;. This led to a heated exchange, with Crockett asserting that Greene&#8217;s remarks were racially charged.
Following this, Crockett announced the <a href="https://www.benzinga.com/news/24/05/38910889/fiery-exchange-with-marjorie-taylor-greene-prompts-jasmine-crockett-to-launch-clapback-t-shirt-colle">launch of a T-shirt line</a> to support Democratic candidates, inspired by her exchange with Greene. The collection includes a T-shirt with the phrase &#8220;Bleach Blonde Bad Built Butch Body&#8221; which appears to have inspired the latest post by Greene.
Photo courtesy: Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: &#8216;I Just Wanna Debate</a>
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Marjorie Taylor Greene Posts Workout Video In Comeback Against Crockett's 'Clapback' Apparel: 'My Body Is Built And Strong'

Human rights attorney Amal Clooney revealed her advisory role to the International Criminal Court prosecutor regarding arrest warrants for three Hamas leaders and Israeli Prime Minister Benjamin Netanyahu and his defense ministers.
What Happened: Clooney was part of a panel of legal experts assembled by ICC prosecutor Karim Khan to evaluate evidence for the arrest warrants. The warrants target Yahya Sinwar, head of Hamas in Gaza; Ismail Haniyeh, Hamas&#8217; top political leader; and Mohammed Diab Ibrahim Al-Masri, commander of Hamas&#8217; military wing, <a href="https://thehill.com/policy/international/4675844-amal-clooney-advised-icc-on-arrest-warrants-for-israel-officials-hamas-leaders/">reported</a> The Hill.
Khan stated that these individuals &#8220;bear criminal responsibility&#8221; for war crimes against Israel, including sexual violence, kidnappings, and extermination. Clooney&#8217;s panel unanimously found &#8220;reasonable grounds&#8221; to pursue charges against those named.
Clooney, who is married to U.S. actor George Clooney, emphasized the importance of the rule of law and protecting civilian lives, stating, &#8220;The law that protects civilians in war was developed more than 100 years ago and it applies in every country in the world regardless of the reasons for a conflict.&#8221;
The legal panel also included experts like Theodor Meron, former president of the International Criminal Tribunal for the former Yugoslavia, and Lord Justice Adrian Fulford, a former ICC judge.
A panel of three judges will now decide whether to issue the warrants and proceed with the case, a process that could take several weeks. The request has faced sharp criticism from Hamas leaders, Israeli officials, and U.S. President Joe Biden, who called it an &#8220;outrageous&#8221; decision.
See Also: <a href="https://www.benzinga.com/news/24/05/38907930/anthony-scaramucci-labels-donald-trumps-hush-money-trial-as-obligatory-loyalty-test-for-republicans?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Labels Donald Trump&#8217;s Hush Money Trial As &#8216;Obligatory Loyalty Test&#8217; For Republicans, Says &#8216;It&#8217;ll Never Be Enough For Donald Trump&#8217;</a>
Why It Matters: The ICC&#8217;s actions come amid heightened tensions and ongoing violence in the region. Earlier, Israeli forces <a href="https://www.benzinga.com/news/24/05/38909656/israel-intensifies-gaza-strikes-killing-at-least-28-palestinians-as-us-envoy-meets-with-netanyahu-to">intensified their strikes</a> across the Gaza Strip, resulting in significant casualties. This escalation coincided with a visit from White House National Security Adviser Jake Sullivan to Prime Minister Benjamin Netanyahu, aiming to prevent a full-scale assault on Rafah.
Earlier in February, ICC prosecutor Karim Ahmad Khan had already <a href="https://www.benzinga.com/markets/asia/24/02/37081429/international-criminal-court-raises-alarm-over-israeli-rafah-operations-urges-justice-for-war-crimes">raised alarms</a> over Israeli military operations in Rafah, expressing concerns about potential violations of the Rome Statute.
Additionally, earlier in the month, the U.S. House of Representatives passed a bill to <a href="https://www.benzinga.com/news/24/05/38891210/gop-led-house-passes-bill-to-force-biden-to-send-arms-to-israel-amid-war-with-hamas">expedite arms shipments</a> to Israel, highlighting the international dimension of the conflict. This move was seen as a response to President Joe Biden&#8216;s delay in bomb shipments amid the ongoing war with Hamas.
On May 20, ICC prosecutor Karim Khan formally requested arrest warrants for Israeli leaders, accusing them of <a href="https://www.benzinga.com/etfs/specialty-etfs/24/05/38920325/icc-prosecutor-requests-arrest-warrants-for-israeli-leaders-on-war-crimes-charges">serious war crimes</a>, including cutting off essential supplies and attacking civilians and aid workers.
Photo Courtesy: Lev Radin on Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38908248/donald-trumps-campaign-is-spending-just-as-quickly-as-its-raising-money-raising-serious-concerns-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s Campaign Is Spending Just As Quickly As It&#8217;s Raising Money, Raising Serious Concerns In Lead-Up To Election</a>
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Amal Clooney Gave Advice To ICC On Arrest Warrants For Benjamin Netanyahu, Top Israeli Officials: 'The Law ...Applies In Every Country In The World'

SCNI

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

TMTG: "At this early stage in the Company's development, TMTG remains focused on long-term product development, rather than quarterly revenue"

Trump Media & Technology Group Q1 EPS $(3.61); Revenue $770.5K Vs $1.12M YoY

TMTG Earlier Reported Revenue Of $770,500 In Q1, Says Revenue Was 'largely from the Company's nascent advertising initiative'

The trading volume of a stock reflects the number of shares bought and sold within a given time. This is called liquidity. The term is used because it likens the ease of converting assets to cash to the fluidity of water. Why is this <a href="https://www.benzinga.com/cannabis">important for cannabis stocks</a>?
Liquidity determines how easily a stock can be bought or sold without significantly affecting its price. High liquidity is associated with lower transaction costs and greater flexibility, making it essential for both short-term traders and long-term investors.
<h2>High-Liquidity Cannabis Stocks</h2>
Several cannabis stocks are known for high trading volumes, indicating strong <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38206489/cannabis-markets-trading-volume-surges-up-292-viridian-capital-highlights-mixed-liq">liquidity</a>. Examples in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> include SNDL, Tilray Brands, Cronos Group and Aurora Cannabis.
<ul>
<li>SNDL: (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>) Trading volume of 4,652,464, priced at $2.40 with a decline of 2.439%.</li>
<li>Tilray Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>): Trading volume of 26,783,844, priced at $1.95 with a decline of 2.0202%.</li>
<li>Cronos Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cron#NASDAQ">CRON</a>): Trading volume of 2,192,492, priced at $2.80 with a decline of 4.1379%.</li>
<li>Aurora Cannabis (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>): Trading volume of 2,178,950, priced at $7.40 with a gain of 0.542%.</li>
</ul>
<h3>Pros And Opportunities</h3>
<ul>
<li>Reduced Transaction Costs: High liquidity results in narrower bid-ask spreads, lowering the cost of buying and selling.&nbsp;The bid-ask spread is the difference between the highest price a buyer is willing to pay for a stock and the lowest price a seller is willing to accept.&nbsp;</li>
<li>Flexibility: Investors can easily adjust positions without significant price impacts.</li>
<li>Market Confidence: High <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38490666/how-big-caps-rewrite-valuation-rules-in-cannabis-cash-puzzle-for-companies-above-an">trading volumes</a> suggest strong market interest and confidence.</li>
</ul>
<h3>Cons And Risks&nbsp;</h3>
<ul>
<li>Volatility: High trading volumes can still be accompanied by price volatility, requiring careful timing for trades.</li>
</ul>
<h2>Low-Liquidity Cannabis Stocks</h2>
Some cannabis stocks have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38343689/whats-the-net-worth-of-these-420-underdogs-mid-tier-cannabis-retailers-cultivators-">lower trading volumes</a>, indicating less liquidity. Examples include Medical Marijuana (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mjna#OTC">MJNA</a>), Trees (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cann#OTC">CANN</a>),<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38828563/largest-cannabis-co-curaleafs-1-5b-projected-revenue-for-2025-analyst-raises-rating"> Curaleaf Holdings </a>(OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>)&nbsp;and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>).
<ul>
<li>Medical Marijuana: Trading volume of 16,116,070, priced at $0.002 with a decline of 4.7619%.</li>
<li>Trees: Trading volume of 42,127, priced at $0.10 with a gain of 11.1111%.</li>
<li>Curaleaf Holdings: Trading volume of 616,467, priced at $5.33 with a decline of 5.9965%.</li>
<li>Green Thumb Industries: Trading volume of 466,633, priced at $12.35 with a decline of 5.8689%.</li>
</ul>
<h3>Pros And Opportunities</h3>
<ul>
<li>Potential High Returns: Lower liquidity stocks can offer high returns due to their smaller market caps and higher volatility.</li>
<li>Market Entry: Opportunity to invest early in potentially <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38772876/cannabis-reports-highlight-339m-and-297-6m-revenue-insights-in-curaleaf-and-truliev">high-growth companies</a>.</li>
</ul>
<h3>Cons And Risks:</h3>
<ul>
<li>Higher Transaction Costs: Wider bid-ask spreads can increase the cost of trading.</li>
<li>Price Impact: Significant trades can lead to large price swings, making it harder to execute orders at desired prices.</li>
<li>Market Confidence: Lower trading volumes may indicate less market interest and confidence.</li>
</ul>
High-liquidity stocks offer reduced transaction costs and flexibility but can still be volatile. Low-liquidity stocks may offer high returns but come with higher transaction costs and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38805354/analysts-may-need-to-revise-cannabis-stock-projections-for-2024-10-companies-surpas">potential price impacts</a>.
By understanding these factors, investors can make more informed decisions and optimize their strategies in the dynamic cannabis sector.
To learn more about the cannabis business and how to invest in the sector,&nbsp;don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
Photo: AI-Generated Image.

Cannabis

Mid Cap

Small Cap

Exclusives

CANN

CRON

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

MJNA

SNDL

TLRY

Easy-To-Trade Cannabis Stocks: Insights Into How Trading Activity Affects These Investments

If your idea of a romantic weekend involves a bowl of caramel popcorn, pizza, red wine, and the comfort of your home instead of hotel check-ins and airport queues, then you are at the right place. Netflix has a treasure trove of romantic comedies which will fill your weekend with love and laughter, without ever stepping outside. 
So, grab your popcorn and snuggle up on the couch, because binge-watching one of these five romcoms will be the perfect way to spend your time with a loved one:
Thank You, Next: The Journey That Starts With A Heartbreak&nbsp;
This TV show is about a young lawyer, who goes through a gut-wrenching breakup. She then restarts her dating life with the help of her friends but the complexities of modern romance make it somewhat difficult.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17012637/Screenshot-2024-05-17-at-10.56.12%E2%80%AFAM-1024x832.png" alt="" class="wp-image-342679" /><figcaption class="wp-element-caption">Thank You, Next &#x7C; Source: Netflix</figcaption></figure>
Love: Because The Road To True Romance Isn't Straight
Led by the amazing actors Gillian Jacobs and Paul Rust, Love is a heartfelt, loud yet captivating series. It revolves around a couple, both of whom are equally untrustworthy and chaotic. The series is about them trying to build a relationship despite having almost no common traits.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17014232/Screenshot-2024-05-17-at-11.12.11%E2%80%AFAM-1024x832.png" alt="" class="wp-image-342690" /><figcaption class="wp-element-caption">Love &#x7C; Source: Netflix</figcaption></figure>
Easy: Finding True Love In Today's Era Is Not For The Faint Of Heart&nbsp;
Set in Chicago, this anthology series features several modern relationships, each with its problems and intricacies. The series gives an authentic portrayal of love and its interpretation in the modern world.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17015033/MV5BNDI5MjY0NTkwM15BMl5BanBnXkFtZTgwODM5MjAyNDM%40._V1_-1024x576.jpg" alt="" class="wp-image-342699" /><figcaption class="wp-element-caption">Easy &#x7C; Source: IMDb</figcaption></figure>
Sex Education: Navigating The Treacherous Waters Of Love And Adolescence
The series delves into the lives of teenagers, some of whom are on the path of self-discovery while others suffer from peer pressure. It also shows some tender yet awkward moments when these teenagers fall in love for the first time and express the same.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17015629/MV5BMjE5ODYzOTY0Nl5BMl5BanBnXkFtZTgwNDE5MTgwNzM%40._V1_-1024x683.jpg" alt="" class="wp-image-342703" /><figcaption class="wp-element-caption">Sex Education &#x7C; Source: IMDb</figcaption></figure>
Never Have I Ever: The Tale Of A Teenager's Love And Self-Discovery
The show follows the journey of Devi, a supremely talented and nerdy girl, who is dealing with her share of trauma, friendships, a strained relationship with her mother, and a burgeoning romance. The series makes it clear that this 15-year-old-teenager is far from perfect, and can be self-centered at times, and shows her evolution beautifully.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17020526/Screenshot-2024-05-17-at-11.34.58%E2%80%AFAM-1024x832.png" alt="" class="wp-image-342716" style="width:921px;height:auto" /><figcaption class="wp-element-caption">Never Have I Ever&#x7C; Source: Netflix</figcaption></figure>
Photo generated using Dall-E

5 Romcoms On Netflix To Fill Your Weekend With Love And Laughter

Movie theater company AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) saw shares rally on Monday, which comes in the wake of meme stocks being <a href="https://www.benzinga.com/news/24/05/38789552/are-meme-stocks-back-heres-whats-going-on-with-shares-of-gamestop-amc-entertainment-koss-corp-and-mo">highly volatile last week.</a>
Did musician Billie Eilish help AMC stock Monday?
What Happened: Last week, AMC hosted an exclusive "Listening Event" for Eilish's newly released album "Hit Me Hard and Soft." The partnership was announced during AMC's recent <a href="https://www.benzinga.com/news/earnings/24/05/38714863/amc-entertainment-q1-earnings-highlights-revenue-beat-eps-beat-billie-eilish-theater-experience-lau">first-quarter financial results.</a>
"Our Billie Eilish Listening Event was a great success. We filled seats at almost TEN TIMES the normal rate for a Thursday afternoon. Thank you Billie for sharing your great talent with your fans at AMC Theatres," AMC CEO Adam Aron <a href="https://x.com/CEOAdam/status/1792225475634307207">tweeted</a>.
The Eilish Listening Event comes as AMC has warned that the second quarter box office will be impacted by the Hollywood strikes of 2023.
"While the second quarter box office will continue to be affected by the 2023 Hollywood strikes, we continue to be ebullient about the upcoming film lineup in the second half of 2024 and throughout 2025," Aron said.
First quarter domestic box office of $1.61 billion was down 6.6% year-over-year for the movie theater industry, according to <a href="https://www.boxofficemojo.com/quarter/q1/2024/?ref_=bo_ql_table_1">BoxOfficeMojo</a>.
The second quarter, which <a href="https://www.boxofficemojo.com/quarter/q2/?grossesOption=calendarGrosses">includes </a>April, May and June currently sits at $766.5 million around halfway through the time period, compared to $2.68 billion last year. Last year's second quarter saw "Super Mario Bros." and "Guardians of the Galaxy Vol. 3" lead the way with $573.3 million and $353.6 million domestically in the quarter. There were a total of six films that hit $100 million or more in the second quarter domestically in 2023.
So far in 2024, the second quarter's top film is "Godzilla x Kong: The New Empire" at $114.4 million.
Upcoming releases in the quarter include "Furiosa: A Mad Max Saga," "Bad Boys: Ride or Die," "The Watchers" and "Inside Out 2."
Related Link: <a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock">Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock?</a>
Why It's Important: Given the likelihood that the second quarter domestic box office will be lower than last year, activities such as the listening event and growth in food and beverage sales could soften the impact or boost AMC&#8217;s results.
Eilish <a href="https://x.com/billieeilish/status/1787882467598446813">tweeted </a>that tickets for the event were $5, which is lower than concert films from Beyonce and Taylor Swift. However, it gets people into the theaters where AMC could upsell the patrons with food, including in some locations new items<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38741474/amc-stock-trades-at-pre-meme-historical-multiple-can-donut-holes-salads-and-billie-"> like salads and mini donuts.</a>
Aron said that the company was in talks with some of the "world's greatest musical artists," which could mean more listening events are coming.
"We expect that AMC will continue to break new ground and blaze new trails with the world's most talented and beloved musicians."
Earlier this year, AMC <a href="https://deadline.com/2024/04/amc-taylor-swift-beyonce-concerts-stephanie-terifay-1235893759/">added </a>Stephanie Terifay in the newly created role of vice president of Distribution. Terifay comes to AMC with years of experience at Fandango where she helped with partnerships and consumer awareness campaigns for movies and events.
The hiring of Terifay and the promotion of Kevin Arnold to the VP Programming Promotions &amp; Partnership role, will likely lead to more non-movie events at AMC theaters. The move could help AMC diversify away from blockbusters and see less volatility when a quarter is facing tough comps from the prior year.
AMC Price Action: AMC shares finished 9.7% higher at $4.83 on Monday versus a 52-week trading range of $2.38 to $54.97.
Read Next: <a href="https://www.benzinga.com/general/entertainment/23/12/36317408/global-box-office-2024-to-decline-5-in-2023-bad-news-for-amc-cinemark">Global Box Office 2024 To Decline 5% In 2023: Bad News For AMC, Cinemark?</a>
Photo: Shutterstock

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