Fidelity Real Estate Investment ETF (BATS: FPRO)

Latest News for Fidelity Real Estate Investment ETF (BATS:FPRO)

PLD WC

Earnings

Equities

Large Cap

News

Guidance

Movers

FPRO

Pacer Benchmark Industrial Real Estate SCTR ETF

INDS

Prologis shares down after reporting Q1 results, with lower rental revenue and reduced FY24 guidance due to market conditions. CEO remains positive about long-term growth.

Why Prologis Shares Are Trading Lower Today

Fidelity Real Estate Investment ETF

BWS Financial analyst Hamed Khorsand maintains Hawkins (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWKN#NASDAQ">HWKN</a>) with a Buy and raises the price target from $74 to $96.

Price Target

Analyst Ratings

HWKN

BWS Financial Maintains Buy on Hawkins, Raises Price Target to $96

After a multi-day rally to start the week, shares of video game retailer GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) are crashing Friday morning with news of preliminary quarterly results and an <a href="https://www.benzinga.com/markets/equities/24/05/38893302/why-is-gamestop-stock-crashing-premarket-after-early-gains">announced share offering.</a>
What Happened: The week started with a bang for GameStop and other meme stocks with the return of <a href="https://www.benzinga.com/markets/equities/24/05/38787490/gamestop-shares-surge-as-roaring-kitty-resurfaces-after-3-year-silence">the Roaring Kitty account</a> on social media, believed to still be owned by Keith Gill, a prominent figure in the 2021 short squeeze storyline.
GameStop shares hit new 52-week highs on both Monday and Tuesday before seeing declines later in the week.
On Friday morning, the video game retailer announced that it expects first-quarter revenue to be in a range of $872 million to $892 million. The company reported $1.24 billion in revenue in last year's first quarter.
Analysts are expecting GameStop to report revenue of $1.05 billion in the first quarter, according to <a href="https://pro.benzinga.com/feature/newsfeed/?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
The company also filed an at-the-market offering of up to 45 million shares. The proceeds from the sale would be used for general corporate purposes, which could include investments and acquisitions.
While shares are falling on Friday&#8217;s news, many aren't surprised by the offering. This includes Benzinga's recent article listing five items that <a href="https://www.benzinga.com/markets/equities/24/05/38831590/5-ways-the-gamestop-meme-stocks-rally-could-fizzle-stock-offerings-boredom-and-more">could hurt the GameStop rally.</a>
"$GME If you don't expect an offering in garbage plays, you haven't been around very long," MightySoldiers <a href="https://x.com/MightySoldiers/status/1791450049131553179">said </a>on X.
Future Fund Managing Partner Gary Black <a href="https://x.com/garyblack00/status/1791447193401925734">shares </a>his commentary on the run in meme stocks.
"With $GME -50% in two days and another -22% this morning after pre-announcing bad 1Q results and a big (45M share) ATM equity offering, investors should realize once and for all that one shouldn't buy stocks just because they are going up. Numbers matter," Black tweeted.
Benzinga's "<a href="https://www.youtube.com/watch?v=156VtJC3W4M">PreMarketPrep</a>" co-host Dennis Dick also <a href="https://x.com/TripleDTrader/status/1791436714847649927">reminded </a>investors that this is an example of why you should "sell your peanuts while the circus is in town."
"Roaring Kitty appears to be the most influential person on Wall Street," Dick <a href="https://x.com/TripleDTrader/status/1790344656556871833">tweeted </a>earlier in the week.
CNBC host Jim Cramer <a href="https://x.com/jimcramer/status/1791459989669675370">suggested </a>that GameStop will now need to merge with another company Friday.
"Gamestop and Petco? Gamestop and Party city? Gamestop and JC Penney? Gamestop and Victoria's Secret? Which is the best to merge with??" Cramer tweeted.
Cramer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38815078/jim-cramer-bets-cash-strapped-amc-gamestop-may-issue-shares-to-capitalize-on-new-me">warned of potential share offerings</a> from GameStop earlier in the week.
"Any CFO who knows what he or she is doing would be so grateful to the memesters so they could fix their balance sheets."
Cramer suggested GameStop could file for an at-the-market offering.
"GME would be nuts NOT to authorize and at the money sell program to raise cash and reinvest."
Related Link: <a href="https://www.benzinga.com/top-stories/24/05/38880117/exclusive-citron-researchs-andrew-left-is-short-gamestop-again">EXCLUSIVE: Citron Research&#8217;s Andrew Left Is Short GameStop Again</a>
Why It's Important: Another key meme stock from the 2021 storyline that jumped this week was AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>). The movie theater company said<a href="https://www.benzinga.com/news/24/05/38843779/whats-going-on-with-amc-entertainment-stock-wednesday"> earlier in the week </a>that it exchanged shares in a debt for equity swap as the share price was surging.
GameStop raised $551 million and $1 billion in offerings in <a href="https://news.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-0">April </a>2021 and <a href="https://news.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program">June </a>2021 when shares were still elevated from their start of the year prices thanks to the meme stock rally and short squeeze that happened in January and February of that year.
GameStop <a href="https://www.benzinga.com/news/earnings/24/03/37946470/gamestop-q4-earnings-highlights-retail-favorite-stock-plunges-after-revenue-eps-miss">ended the fourth quarter</a> with $1.0 billion and continues to post quarterly losses in most quarters. The third and fourth quarters of the last fiscal year saw breakeven earnings per share and a profit, respectively.
The video game retailer saw fourth-quarter revenue of $1.79 billion, down from $2.23 billion in the previous year's fourth quarter. The total missed a Street consensus estimate of $2.05 billion.
For Friday's share price fall, it may be hard to tell whether the preliminary earnings or the share offering news is having a bigger impact on the stock.
Based on a price of $22.66 for GameStop shares at the time of writing, selling 45 million shares would raise around $1 billion for the company.
GME Price Action: GameStop shares are down 25.9% to $20.49 on Friday, versus a 52-week trading range of $9.95 to $64.84.
Read Next: <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>
Photo: Shutterstock

Trading Ideas

GameStop Shares Fall On Offering: 'One Shouldn't Buy Stocks Just Because They Are Going Up,' Fund Manager Says

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
The SPY (ARCA: SPY) is currently trading around our level of 528.66. For the bulls, a push higher initially to 530.09 is desirable. If the price action remains robust above 530.09, we anticipate buyers bringing the price to our support level of 530.77. Holding 530.77 during regular trading hours could lead to a further push up to 531.57. Our high bull target for SPY today is 532.56.
On the flip side, if 528.66 fails to hold as support, we expect the bears to test the strength of 527.36. Persistent selling could drive the price lower to 526.31. If this level breaks under heavy selling pressure, a strong support at 525.26 comes into play. In the event of a severe sell-off, our low bear target for the day is 523.76.
<h3>Invesco QQQ Trust Series 1</h3>
The Q&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) are currently trading around our key level of 452.14. For the bulls, we want to see buyers pushing above 452.98. If this level holds as support, we look for the price to climb to 454.10. Continued buying strength could bring 455.29 into play. A robust auction could lead to testing higher at 456.23, with our high bull target for the Q&#39;s at 457.55.
Should the auction struggle to maintain 452.14, we anticipate the bears taking control and driving the price down to 450.98. Further weakness could see the price tested at 449.36. Persistent selling might bring the level of 447.73 into focus. If this fails to hold, the low bear target for the day is 446.51.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is currently trading around our level of 189.44. For the bulls, maintaining support at this level is crucial. A rally higher to 190.52 would signify strong bullish momentum. Should the bulls sustain control, the price could reach 191.57. If the momentum continues, a push to our high bull target of 192.27 is expected.
Conversely, if 189.44 fails as support, we look for a lower test at 188.56. Continued selling pressure could drive the auction down to 187.50. Persistent bearish activity might bring 186.99 into play. If this level breaks, our low bear target for the day is 186.35.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently trading around our level of 422.84. Bulls need to maintain support at this level and push the price to 423.81. If this level holds during regular trading hours, it could trigger a rally to 425.16. Sustained buying pressure might drive the price to our high bull target of 426.00.
If 422.84 does not hold as support, bears might test 421.62. A break below this level could see the price drop to 420.26. Continued downward pressure might push the price further down to 419.17. Our low bear target for the day is 417.25.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is currently trading around our key level of 937.84. For the bulls, pushing up to 945.15 and reclaiming it as support is critical. This could lead to an upward move to 950.29. Sustained buying momentum might result in a rally to 955.43, with our high bull target for the day at 961.78.
If 937.84 fails to hold as support, the bears might test the lower level of 928.47. A break below this level could see a drop to 922.67. Further selling pressure might lead to a test at 917.98. If this level doesn&#39;t hold, the low bear target for NVIDIA today is 913.30.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading around our level of 174.01. For the bulls, maintaining support at 174.01 is essential. A push higher to 175.12 could signal continued bullish momentum. Further strength might bring the auction to our high bull target of 176.23.
If 174.01 does not hold as support, bears might drive the price down to 172.28. Breaking this level could see an initial test at 171.14. Under heavy selling, we expect the price to reach our low bear target of 169.34.
<h3>Meta Platforms Inc </h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is currently trading around our level of 470.28. For the bulls, holding support at this level and pushing the price to 472.19 is crucial. If the auction remains strong, the price could climb to 473.93. Continued bullish momentum might bring the price to our high bull target of 475.19.
If 470.28 fails as support, bears might drive the price down to 468.38. Persistent selling pressure could push the price further to 465.81. If this level breaks, the low bear target for Meta today is 464.57.
<h3>Tesla Inc. </h3>
Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is currently trading around our key level of 172.61. For the bulls, pushing the price up to 176.34 is important. Sustained buying could lead to a rally to our key level of 179.79. In a strong bullish market, we might see Tesla testing higher at 182.53. If buyers dominate today, the high bull target is 184.10.
If 172.61 does not hold as support, we anticipate a test lower at 169.70. Continued selling might bring 166.89 into play. If this level breaks and sellers remain active, the low bear target for Tesla is 164.87.
Final Word:&nbsp; Today&#39;s session presents a relatively calm landscape in terms of economic data releases, with the only significant report being the Leading Index for April, which is due at 10 AM ET. However, market participants should be aware that we are scheduled to hear from two Federal Reserve officials today: Chris Waller, who will speak at 10:15 AM ET, and Adriana Kugler, who will speak after the market closes at 5:45 PM ET. Their remarks could provide insights into the Fed&#39;s future monetary policy direction and potentially influence market sentiment.
Moreover, it&#39;s important to note that today is Mopex, which typically leads to increased market volatility. Mopex, or Monthly Options Expiration, can result in heightened trading activity as options contracts reach their expiration. This can lead to large moves in individual stocks and indices as traders adjust their positions.
Given the absence of major economic data, today&#39;s market movements may be more influenced by technical levels, Mopex, and the remarks from the Fed officials. As always, it&#39;s crucial to stay vigilant and be prepared for potential volatility, especially during key events and expiration periods during today&#39;s close. Keep an eye on the key levels mentioned for each ticker, and be ready to adjust your strategies accordingly.
Good luck, trade safely, and Happy Friday!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

AAPL

GOOGL

MSFT

NVDA

TSLA

Market Clubhouse Morning Memo - May 17th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates CARISMA Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARM#NASDAQ">CARM</a>) with a Buy and maintains $8 price target.

Reiteration

CARM

HC Wainwright & Co. Reiterates Buy on CARISMA Therapeutics, Maintains $8 Price Target

BRKR

Bruker Shares Down 2.65%, Co. Began Investor Webinar At 10:00 a.m. ET

Wells Fargo analyst Joseph Quatrochi maintains Applied Mat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) with a Overweight and raises the price target from $250 to $255.

AMAT

Wells Fargo Maintains Overweight on Applied Mat, Raises Price Target to $255

Akanda Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAN#NASDAQ">AKAN</a>) shares are trading higher Friday amid increased volaility in marijuana stocks after President Biden announced the Department of Justice is taking the next step towards the reclassification of marijuana from a Schedule I substance <a href="https://www.benzinga.com/markets/cannabis/24/05/38880819/weed-stocks-rally-after-biden-makes-marijuana-reclassification-announcement">to a Schedule III. </a>
The Details:
President Biden <a href="https://twitter.com/POTUS/status/1791152464617431389">posted </a>a video on the social media platform X Thursday with the following caption:&nbsp;
"Too many lives have been upended because of our failed approach to marijuana. So today, the @TheJusticeDept is taking the next step to reclassify marijuana from a Schedule I to a Schedule III drug under federal law."
The Department of Justice reportedly planned to issue a notice of proposed rulemaking on Thursday that would reclassify marijuana to Schedule III after a 60-day public comment period. 
Major players in the marijuana industry, including Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) and Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), shares rose Thursday on the long-awaited news, but the rally has since cooled.&nbsp;
Akanda shares are racing higher on heavy trading volume Friday with more than 100 million shares already traded early in the session. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, the stock has a 100-day average volume of 11.329 million shares and a float of 32.016 million shares.
Related News: <a href="https://www.benzinga.com/news/24/05/38878911/whats-going-on-with-faraday-future-intelligent-electric-stock">What&#8217;s Going On With Faraday Future Intelligent Electric Stock?</a>
<h2 class="wp-block-heading">How To Buy AKAN Stock: </h2>
By now you're likely curious about how to participate in the market for Akanda &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of Akanda , which is trading at $0.30 as of publishing time, $100 would buy you 333.33 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
AKAN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Akanda shares are up 137% at 31 cents at the time of publication Friday.
Image: Hvoenok and GOR Photo from Shutterstock

Cannabis

AKAN

TLRY

What's Going On With Cannabis-Producer Akanda's Stock?

Wells Fargo analyst Joseph O'Dea maintains Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) with a Overweight and raises the price target from $520 to $550.

Wells Fargo Maintains Overweight on Lennox Intl, Raises Price Target to $550

<a href="https://www.minneapolisfed.org/live" title="https://www.minneapolisfed.org/live">https://www.minneapolisfed.org/live</a>

Macro Economic Events

Econ #s

Economics

Federal Reserve

Fed's Waller Doesn't Comment On Rate Outlook In Prepared Speech

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates MoonLake (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLTX#NASDAQ">MLTX</a>) with a Buy and maintains $100 price target.

MLTX

HC Wainwright & Co. Reiterates Buy on MoonLake, Maintains $100 Price Target

Wells Fargo analyst Matthew Akers maintains RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) with a Overweight and raises the price target from $119 to $141.

Wells Fargo Maintains Overweight on RTX, Raises Price Target to $141

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Longeveron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) with a Buy and maintains $12 price target.

LGVN

HC Wainwright & Co. Reiterates Buy on Longeveron, Maintains $12 Price Target

Wells Fargo analyst Michael Blum maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Equal-Weight and lowers the price target from $16 to $14.

ARRY

Wells Fargo Maintains Equal-Weight on Array Technologies, Lowers Price Target to $14

Wells Fargo analyst Daniel Politzer maintains Royal Caribbean Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) with a Overweight and raises the price target from $159 to $165.

Wells Fargo Maintains Overweight on Royal Caribbean Gr, Raises Price Target to $165

Brenmiller Energy Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) shares skyrocketed after&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38893160/brenmillers-project-pipeline-expands-to-49-projects-representing-over-500-million-in-potential-val" rel="noreferrer noopener">it announced a record project pipeline as of May 1, 2024.</a>&nbsp;The company has 49 potential contracts worth over $500 million, representing more than 6,000 MWh of zero-emission heat for its bGen ZERO TES systems.
Brenmiller&#8217;s bGen TES technology replaces fossil fuel boilers in industrial and power plants, which account for nearly a quarter of global emissions. The modular, highly configurable system offers scalable, zero-emission heat with 24/7 operational reliability.
Brenmiller is progressing projects in 12 industries, with the&nbsp;largest&nbsp;shares in food and beverage, consumer goods, energy, chemicals, and pharmaceuticals across 13 countries, including the U.S., Spain, Hungary, Israel, and India.&nbsp;
About two-thirds of these projects are equipment sales, and one-third are through an Energy-as-a-Service model, with nearly all converting renewable electricity into process heat.
&#8220;The nearly fifty active project proposals, offers and negotiations our team has going with some of the largest and most innovative industrials and energy companies is great for business, but it&#8217;s even better for the planet,&#8221; commented Brenmiller&#8217;s Chairman and CEO, Avi Brenmiller.&nbsp;
&#8220;Several of these projects are in advanced stages of negotiations and we anticipate that two to four of them may advance into binding, revenue-generating contracts in the coming quarters.&#8221;
Price Action:&nbsp;BNRG shares are trading higher by 29.4% at $2.73 at the last check Friday.

BNRG

Brenmiller Energy Shares Skyrocket, Poised For Major Growth With Solid Project Pipeline

Nvidia Corp. founder and CEO <a href="https://www.benzinga.com/general/entertainment/24/04/38345794/mark-zuckerberg-spills-the-beans-on-his-bromance-with-nvidias-jensen-huang-hell-yeah-lets-m">Jensen Huang</a> had a word of caution for Stanford graduates, who he says "naturally" have high expectations and low resilience.
He wants these Stanford graduates to undergo pain and suffering, and there's a good reason why.
In a recent interview at the Stanford Graduate School of Business, Huang shared insights into his journey, highlighting his willingness to take on any task, no matter how menial, due to his own experience as a dishwasher and janitor.
He also emphasized the importance of resilience and character in achieving success.
See Also: <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'</a>
At another Stanford event, Huang made intriguing remarks about expectations, pain, and suffering. He noted that while Stanford graduates often have high expectations, this mindset can lead to low resilience, a crucial factor in success.
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.
"I think one of my advantages is I have very low expectations. Most of the Stanford graduates have very high expectations."
But that's the problem, according to Huang.
"People with very high expectations have very low resilience. Unfortunately, resilience matters in success."
He expressed uncertainty about how to teach this resilience, suggesting that it may be something students need to experience firsthand.
"I don't know how to teach it to you except hope suffering happens to you."
Despite growing up in a success-oriented environment, Huang also faced numerous challenges. He believes that character, not intelligence, is the key to true greatness in individuals, and character is shaped by experiences of adversity.
He says he uses the phrase "pain and suffering" with "great glee" even now at Nvidia.
Why It Matters: Huang&#8217;s insights into the importance of resilience and character in achieving success are particularly poignant given his own journey.
Despite facing initial setbacks, including a <a href="https://www.benzinga.com/news/24/04/38521828/jensen-huangs-initial-nvidia-pitch-dubbed-one-of-the-worst-by-former-boss-yet-backed-by-belief-in-go">disastrous pitch</a> to his former boss in 1993, Huang&#8217;s belief in the potential of GPU technology ultimately led to the creation of Nvidia. His story serves as a powerful example of the value of perseverance and character in the face of adversity.
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Check out more of&nbsp;Benzinga&#8217;s&nbsp;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's Larry Page Over Ilya Sutskever: ‘Linchpin For OpenAI Being Successful&#8217;</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.
Photo courtesy: Nvidia Corp on Flickr

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Nvidia's Jensen Huang Tells Stanford Graduates To Embrace 'Pain' For Success: '...Hope Suffering Happens To You'

<a href="https://www.bloomberg.com/news/articles/2024-05-17/germany-closing-in-on-huawei-5g-ban-as-digital-ministry-resists?srnd=homepage-europe">https://www.bloomberg.com/news/articles/2024-05-17/germany-closing-in-on-huawei-5g-ban-as-digital-ministry-resists?srnd=homepage-europe</a>
&nbsp;

'Germany Closing In On Huawei 5G Ban As Digital Ministry Resists' - Bloomberg

U.S. stocks were mixed, with the Dow Jones gaining around 0.1% on Friday.
Shares of Despegar.com, Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) rose sharply during Friday's session after the company reported <a href="https://www.benzinga.com/quote/DESP/earnings">better-than-expected quarterly sales results.</a>
Despegar.com posted GAAP earnings of 7 cents per share, versus market estimates of 15 cents per share. The company's quarterly sales came in at $173.700 million beating expectations of $171.556 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Despegar.com shares jumped 19.7% to $15.01 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) gained 19.7% to $28.41 reported stronger-than-expected financial results for the fourth quarter on Thursday.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) climbed 14.5% to $64.52 after the company announced a partnership with OpenAI.</li>
<li>Ouster, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) gained 14.4% to $13.36.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) jumped 12.1% to $3.90</li>
<li>Autolus Therapeutics plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUTL#NASDAQ">AUTL</a>) rose 11.3% to $4.53 following first-quarter results.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) climbed 9.4% to $4.41.</li>
<li>Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>) surged 8.6% to $5.97.</li>
<li>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>) gained 8.2% to $3.79.</li>
<li>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) shares rose 7.7% to $5.68.</li>
<li>NovaGold Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NG#NYSE">NG</a>) shares jumped 7.4% to $3.51</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) gained 6.2% to $19.01 after B of A Securities upgraded the stock from Underperform to Buy and raised its price target from $14 to $24.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) rose 5.6% to $7.41.</li>
<li>RBC Bearings Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) shares climbed 4.5% to $279.55 following fourth-quarter results.</li>
<li>DouYu International Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>) gained 4.3% to $10.96.</li>
</ul>
Now Read This:  <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38893741/jim-cramer-recommends-buying-this-sports-betting-companys-stock-i-think-its-terrific">Cramer Recommends Buying This Sports Betting Company&#8217;s Stock: &#8216;I Think It&#8217;s Terrific&#8217;</a>

Intraday Update

Markets

ASTS

AUTL

CVAC

DESP

DOCS

DOYU

HOOD

MESO

OUST

RDDT

Despegar.com Posts Strong Sales, Joins Reddit, Robinhood And Other Big Stocks Moving Higher On Friday

As the electrification revolution accelerates, lithium — a critical raw material for batteries — stands at the forefront of the energy transition. North American lithium miners Piedmont Lithium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>), Lithium Americas Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>), and American Battery Technology Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) are strategically positioned to benefit from this <a href="https://www.benzinga.com/topic/lithium">surge in demand</a>.
We look into recent insights from J.P. Morgan&#8217;s fireside chats with these companies to gauge their future prospects. Subsequently, we compare these stocks to determine which one offers greater upside potential.
Here&#8217;s a quick peek into the three companies&#8217; key metrics before we dive in:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Market Capitalization</td>
<td>2023 Revenue (Annual)</td>
</tr>
<tr>
<td>Piedmont Lithium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>)</td>
<td>$296.158M</td>
<td>$39.82M</td>
</tr>
<tr>
<td>Lithium Americas Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>)</td>
<td>$983.780M</td>
<td>Pre-Revenue</td>
</tr>
<tr>
<td>American Battery Technology Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>)</td>
<td>$74.329M</td>
<td>Pre-Revenue</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Piedmont Lithium &#8211; Bullish On Long-Term Demand</h3>
Piedmont Lithium remains bullish about the long-term demand for lithium, despite current market fluctuations. 
CEO Keith Phillips is optimistic about North American Lithium&#8217;s (NAL) productivity trends, expecting improved efficiency and cost savings as shipments shift to North America. He sees Carolina Lithium as a key asset for the company, highlighting its ore body and low costs, and is seeking non-dilutive funding, including a DOE loan and partnerships. 
Despite potential delays, Phillips remains optimistic about the timeline for the Ewoyaa Project in Ghana, aiming for full capacity by 2027.
Piedmont Lithium stock closed the trading day Thursday at $15.28, up 3.87%. The stock has a Buy <a href="https://www.benzinga.com/quote/PLL/analyst-ratings">consensus analyst rating</a>. Recent analyst ratings on the stock have an average price target of $29.33 between BMO Capital, DA Davidson, and BTIG. That&#8217;s an implied 91.85% upside for Lithium Americas stock.
Also Read: <a href="https://www.benzinga.com/markets/commodities/24/05/38749377/piedmont-lithiums-record-quarter-for-production-coal-prices-weigh-on-rameco-royal-gold-boosts">Piedmont Lithium&#8217;s Record Quarter For Production; Coal Prices Weigh On Rameco; Royal Gold Boosts Liquidity And More: Thursday&#8217;s Top Mining Stories</a>
<h3 class="wp-block-heading">Lithium Americas &#8211; Advancing Thacker Pass</h3>
Lithium Americas is making significant strides in its Thacker Pass project in Nevada.
CEO Jon Evans and CFO Pablo Mercado are bullish about Lithium Americas&#8217; (LAC) funding prospects, expressing confidence in closing the DOE loan on time. With $147 million in cash reserves and significant progress in engineering work, LAC is on track to meet its financial and operational targets. 
They also highlight the company&#8217;s commitment to de-risking the chemical processing steps at Thacker Pass and optimizing efficiency. Cost management, particularly in reagent usage and procurement planning, is a key focus to enhance economic viability, crucial for long-term success.
Lithium Americas stock closed the trading day Thursday at $4.43, up 0.91%. Recent analyst ratings on the stock have an average price target of $6.53 between HSBC, Evercore ISI Group, and JP Morgan. That&#8217;s an implied 46.16% upside for Lithium Americas stock.
<h3 class="wp-block-heading">American Battery Technology &#8211; Leveraging Battery Recycling</h3>
American Battery Technology is uniquely positioned with its battery recycling business, which not only generates revenue but also funds future lithium resource development. This innovative approach provides a stable financial base while expanding its footprint in the lithium market.
American Battery stock is rated Outperform by analysts with a <a href="https://www.benzinga.com/quote/ABAT/analyst-ratings">consensus price target</a> of $6 a share. The stock closed the trading day Thursday at $1.33 a share, up 1.53%. This indicates an implied 344.44% upside.
Also Read: <a href="https://www.benzinga.com/markets/commodities/24/05/38884419/abat-ramps-up-nevada-facility-us-gold-receives-ck-gold-permit-tredegar-terphane-sale-under-re">ABAT Ramps Up Nevada Facility; US Gold Receives CK Gold Permit; Tredegar Terphane Sale Under Review And More: Thursday&#8217;s Top Mining Stories</a>
<h3 class="wp-block-heading">Investment Takeaways</h3>
The surge in demand for lithium driven by the energy transition presents a significant opportunity for North American lithium miners such as Piedmont Lithium, Lithium Americas, and American Battery Technology. 
Recent insights from J.P. Morgan&#8217;s fireside chats with these companies highlight their strategic positioning to capitalize on this trend. Investors looking to capitalize on the growing demand for lithium in the energy transition should carefully consider these companies&#8217; prospects and potential upside.
Read Next: <a href="https://www.benzinga.com/news/events/24/04/38190880/exclusive-lithium-market-faces-daunting-supply-demand-challenge-says-nevada-lithium-ceo">EXCLUSIVE &#8211; Lithium Market Faces &#8216;Daunting&#8217; Supply-Demand Challenge, Says Nevada Lithium CEO</a>
Image: Shutterstock

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ABAT

Piedmont Lithium, Lithium Americas, American Battery Technology Lead The Energy Transition: Which Stock Offers More Upside?

Solitario Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPL#NYSE">XPL</a>) has announced the discovery of multiple high-grade gold zones at its Golden Crest project, driving its share price to the highest point in over three years. As geopolitical instabilities push the price of <a href="https://www.benzinga.com/topic/gold">gold</a> higher, promising domestic projects are gaining interest and value.
"These are among the highest-grade samples collected during a first pass sampling program at a newly discovered target zone in the history of Golden Crest," <a href="https://solitarioxr.com/news/05152024.pdf">said</a> Chris Herald, CEO of Solitario Resources.
"There is a high probability that these three zones may coalesce into a single massive zone with additional work. We look forward to our drilling program starting in the first part of June," he said.
The newly discovered zones, Holland, Top Dollar, and Wildcat, yielded remarkable gold values of 57.9, 50.2, 42.7, 32.3, and 21.1 grams per ton from reconnaissance rock sampling. These zones, found within an area of approximately 4 square kilometers between the Downpour and Sleeping Beauty targets, are all at the surface.
Now read: <a href="https://www.benzinga.com/news/large-cap/24/05/38873394/bhp-shareholders-anticipate-final-bid-for-anglo-american-as-deadline-nears">BHP Shareholders Anticipate Final Bid For Anglo American As Deadline Nears</a>
These zones lie on Solitario's new Ponderosa Plan of Operations (POO) in the easternmost portion of the Golden Crest property, where low-impact core drilling will test these promising gold targets.
Solitario Resources acquired the Golden Crest project in August 2021, securing a significant land position in a historically productive gold district. The district, which includes the legendary Homestake Mine, has seen multiple mines contribute to its gold output. Homestake, a supergiant gold deposit, produced over 42 million ounces of gold from 1876 to 2001, making it one of North America&#8217;s largest individual gold deposits.
Solitario controls all four likely bedrock sources identified through limited exploration by Homestake Mining Company in the 1980s and 1990s. These new targets are outside the historically mined zone &#8211; found along the western and southwestern extensions of the Homestake-Wharf mining district. Nowadays, they hold the potential to expand Solitario's gold resources significantly.
The Golden Crest project benefits from its location in a safe, mining-friendly jurisdiction with developed infrastructure and a skilled workforce. With a record of continuous gold mining spanning over 145 years, the region is well-positioned to support Solitario's exploration efforts, scheduled to continue in June.
Shares of XPL soared over 10% on the news. The stock is up 64% year-to-date.
Also read: <a href="https://www.benzinga.com/markets/asia/24/05/38878116/big-short-investor-michael-burry-bets-heavy-on-gold-renewable-energy-stocks-exits-amazon-alphabet">&#8216;Big Short&#8217; Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Photo: Shutterstock

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Wednesday, April 17, 2024