Fastly Stock (NYSE:FSLY), Trade Ideas

Fastly

Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content. Fastly's strategy differs from traditional CDNs, which focus on locating servers in as many locations as possible to store copies of files that consumers most use. Fastly is in far fewer sites than traditional CDNs, but it houses servers in the most network-dense data centers. Instead of simply storing static content, it allows its customers to program on its platform, enabling edge computing and better service of the more dynamic content that was traditionally not well served by CDNs. Fastly gears its service to the largest, most sophisticated enterprises rather than small companies and generated nearly three fourths of its revenue in the United States in 2022.

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Shares of Agenus Inc. (NASDAQ: AGEN) fell sharply during Monday’s session.

Agenus disclosed a 1-for-20 reverse stock split of common stock.

Agenus Inc. (NASDAQ: AGEN) declined 17% to $0.4181 on Monday.

Why Agenus Shares Are Trading Lower By Around 17%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Fastly Inc (NYSE: FSLY) reported mixed results for the fourth quarter.

Fastly Has &#39;Magic Of Possibility,&#39; Says Analyst: &#39;Growth Comes From Non-Top 10 Enterprises&#39;

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U.S. stocks were mostly higher, with the Nasdaq Composite gaining around 0.1% on Monday.

Model N, Ducommun, Perpetua Resources And Other Big Stocks Moving Higher On Monday

Fastly Inc

Stocks surged across the board on Tuesday, gaining momentum after Monday&#8217;s rebound as unexpectedly weak economic data bolstered hopes for a potential Federal Reserve rate cut <a href="https://www.benzinga.com/federal-reserve">by the end of the summer</a>.
What Happened: The S&amp;P Global&#8217;s Purchasing Managers&#8217; Index (PMI) for April indicated a significant deceleration in private sector growth—the slowest in four months—also highlighting reduced inflationary pressures <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">from wages and services.</a>
Market-implied probabilities for a rate cut by the Fed as early as September jumped to 72%, up from 67% on Monday, according to CME Group&#8217;s FedWatch Tool. 
Meanwhile, corporate earnings have generally exceeded expectations, with investors now eagerly anticipating results from Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), slated for release after market close.
By midday trading in New York, the S&amp;P 500 climbed 1.2%, setting the stage for its best performance in over a month. The Nasdaq 100 outperformed the broader market, up 1.5%, while the Dow Jones Industrial Average saw a more modest increase of 0.6%.
The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) outperformed its large-cap counterparts, jumping 1.7% and marking its most significant gain since late March.
The dollar declined by 0.4%, and Treasury yields slightly fell. In the commodities market, gold remained steady following its sharpest drop in years on Monday, while oil prices inched 1% higher. Bitcoin edged down slightly by 0.3% to $66,640.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,002.50</td>
<td>1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,463.15</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,068.20</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,468.74</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:37 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $505.50, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $384.94 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.5% to $425.11, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.8%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) was the major laggard, down 0.5%. 
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) saw its shares surge 17% following a robust earnings beat, setting the stock on course for its best single-day performance since its 2018 IPO.</li>
<li>Other companies reacting to recent earnings were Globe Life Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>), up 13%, GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>),up 7.3%, Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), up 7.3%, General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), up 5%, Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), up nearly 3%, PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), down 2.2%, United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), up 2%, Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), down 11%, MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), down 14%, LKQ Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>), down 14%, Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>), flat, and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), up 0.5%, </li>
<li>Notable names reporting after the close other than Tesla Inc. and Visa, Inc. are Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>).</li>
</ul>
Now Read: <a href="https://www.benzinga.com/markets/asia/24/04/38380008/us-mulls-sanctions-on-beijing-banks-for-alleged-role-in-putins-war-in-ukraine-china-cant-have-it-bot">US Mulls Sanctions On Beijing Banks For Alleged Role In Putin&#8217;s War In Ukraine: &#8216;China Can&#8217;t Have It Both Ways,&#8217; Blinken Says</a>

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Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What's Driving Markets Tuesday?

Canaccord Genuity analyst Jeremy Hoy maintains Vizsla Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/VZLA#AMEX">VZLA</a>) with a Speculative Buy and raises the price target from $4 to $4.75.

VZLA

Canaccord Genuity Maintains Speculative Buy on Vizsla Silver, Raises Price Target to $4.75

Tech billionaire&nbsp;Elon Musk&#8217;s&nbsp;social media platform&nbsp;X, formerly&nbsp;Twitter, and&nbsp;disclosed they are launching the X TV App.&nbsp;
In a post on X, CEO Linda Yaccarino said that the X TV App will bring real-time, engaging content to the consumer&#8217;s smart TV and offer a high-quality, immersive entertainment experience on a larger screen.
<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">From the small screen to the big screen X is changing everything. Soon we'll bring real-time, engaging content to your smart TVs with the X TV App. This will be your go-to companion for a high-quality, immersive entertainment experience on a larger screen. We're still building it… <a href="https://t.co/QhG6cVDpZ8">pic.twitter.com/QhG6cVDpZ8</a>
&mdash; Linda Yaccarino (@lindayaX) <a href="https://twitter.com/lindayaX/status/1782771479383622004?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The app&nbsp;is expected&nbsp;to offer a cross-device experience and facilitate organizing videos by subject for a personalized experience.
X TV app is an&nbsp;interesting&nbsp;choice as Elon Musk has been a vocal critic of&nbsp;Meta Inc.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram.
Musk expressed his <a href="https://www.benzinga.com//node/38375786">dislike for Instagram</a> yet again, reacting to a reel posted by a user on X.
&#8220;That annoying Instagram logo keeps popping up in videos. Makes things worse.&#8221;
Musk is referring to the Instagram logo watermark that appears on downloaded Reels alongside the name of the user to whom the video belongs.
Last week, in response to the appearance of pro-Nazi content on&nbsp;X, South Korea&#8217;s leading automaker, Hyundai&nbsp;decided to halt its advertising. This decision comes after&nbsp;a sponsored post from Hyundai was found&nbsp;next to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38328015/elon-musk-led-x-suffers-setback-after-hyundai-halts-ads-on-platform-over-anti-semitic-content" rel="noreferrer noopener">anti-Semitic and pro-Nazi posts</a>.
&nbsp;The Pakistani Interior Ministry revealed last Wednesday that it blocked access to X in February,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38289046/pakistan-blocks-elon-musks-social-media-platform-x-amid-national-security-concerns" rel="noreferrer noopener">citing national security concerns</a>.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38381070/elon-musks-x-is-down-its-not-just-you" target="_blank" rel="noreferrer noopener">BREAKING: Elon Musk&#8217;s X Is Down, It&#8217;s Not Just You</a>
Photo by Angga Budhiyanto on Shutterstock

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Elon Musk's Social Media Platform To Launch X TV App

Comcast's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NYSE">CMCSA</a>) short percent of float has fallen 3.25% since its last report. The company recently reported that it has 46.79 million shares sold short, which is 1.19% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.38 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Comcast Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713893425_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Comcast has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Comcast's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Comcast's peer group average for short interest as a percentage of float is 10.61%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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CMCSA

Looking Into Comcast's Recent Short Interest

Blackstone's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) short percent of float has fallen 18.67% since its last report. The company recently reported that it has 19.24 million shares sold short, which is 2.7% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.95 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Blackstone Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713893419_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Blackstone has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Blackstone's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Blackstone's peer group average for short interest as a percentage of float is 2.69%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(BX) - Analyzing Blackstone's Short Interest

Warner Bros. Discovery's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NYSE">WBD</a>) short percent of float has risen 9.05% since its last report. The company recently reported that it has 110.63 million shares sold short, which is 4.58% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.1 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Warner Bros. Discovery Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713893414_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Warner Bros. Discovery has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Warner Bros. Discovery's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Warner Bros. Discovery's peer group average for short interest as a percentage of float is 5.92%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Warner Bros. Discovery?

&#8216;Dogecoin Killer&#8217; Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has witnessed significant whale activity driven by a 26% weekly surge, with the lead developer signaling confidence in the <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">meme coin's performance</a>.
What Happened: Etherscan data shows one whale address that accumulated 237.87 billion SHIB on Monday. The anonymous wallet was set up recently, and the transaction could mean an over-the-counter purchase or a whale distributing their cryptocurrency stash between smaller blockchain addresses. 
This news comes amid Shiba Inu <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38358696/dogecoin-killer-shiba-inu-up-19-in-2-days-raises-12m-for-new-blockchain">announcing a $12 million investment</a> received for developing the new Layer 3 network that will focus on security and privacy.
Shibburn data points to a total of 411.9 million coins burnt in the past seven days, further contributing to the positive sentiment surrounding the meme coin.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38337646/dogecoin-killer-shiba-inu-whale-transactions-spike-55-100b-by-2025-predicts-crypto-investo">&#8216;Dogecoin Killer&#8217; Shiba Inu Whale Transactions Spike 55%: &#8216;$100B By 2025,&#8217; Predicts Crypto Investor</a>
Why It Matters: IntoTheBlock data shows an 18.3% spike in large transaction volume to $97.55 million, while concentration by large holders stands at 73%. Shibariumscan data highlights an increase in new contracts to 38 as of April 22, compared to 18 as of April 21.
Shiba Inu lead developer Shytoshi Kusama, in his latest tweet, explained why he kept changing location as he was pitching his ideas to the smartest minds in the industry. 
He stated, &#8220;This is a big day for SHIB as we push forward for encryption and elevate our entire brand,&#8221; adding that there is much in store for the Shib army.
Price Action: At the time of writing, SHIB was trading at $0.00002724, up 2.5% over the past 24 hours.
What's Next: The influence of meme coins and&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;are topics expected to be thoroughly explored at Benzinga's upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38321897/dogecoin-shiba-inu-and-who-else-how-meme-coins-have-evolved-since-the-last-bitcoin-halving">Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving</a>
Image: Shutterstock

$SHIB

Shiba Inu Whale Accumulates 237B SHIB In One Transaction:  'Much In Store For The SHIB Army,' Vows Lead Developer

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth reiterates Corcept Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORT#NASDAQ">CORT</a>) with a Buy and maintains $38 price target.

Reiteration

CORT

HC Wainwright & Co. Reiterates Buy on Corcept Therapeutics, Maintains $38 Price Target

Neurocrine Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) revealed on Tuesday topline data for its Phase 2 SAVITRI study of NBI-1065845 in adult subjects with <a href="https://www.benzinga.com/pressreleases/24/04/n38375091/neurocrine-biosciences-reports-positive-phase-2-data-for-nbi-1065845-in-adults-with-major-depressi" target="_blank" rel="noreferrer noopener">major depressive disorder (MDD)</a>. 
In 2020, Neurocrine Biosciences and&nbsp;Takeda Pharmaceutical Company Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) entered into a strategic collaboration to develop and commercialize compounds in Takeda&#8217;s early-to-mid-stage psychiatry pipeline, including an exclusive license to NBI-1065845 (TAK-653).
The study met its primary and&nbsp;key&nbsp;secondary endpoints, demonstrating that once-daily, oral administration of NBI-1065845 produced a statistically significant change from baseline in Montgomery Åsberg Depression Rating Scale (MADRS) total score at both Day 28 (primary) and Day 56 (secondary).&nbsp;
In the&nbsp;full&nbsp;analysis data set, the least squares (LS) mean differences from baseline in MADRS total score for NBI-1065845 were:
One of the doses demonstrated improvement over the placebo of -4.3 (p-value = 0.0159) and -7.5 (p-value = 0.0016) at Day 28 and Day 56, respectively.
The other undisclosed dose did not achieve statistical significance but demonstrated a trend toward improvement over the placebo of -3.0 (p-value = 0.0873) and -3.6 (p-value = 0.1082) at Day 28 and Day 56, respectively.
NBI-1065845 was generally well tolerated.&nbsp;
The most common adverse event was headache.&nbsp;The adverse event profile for both doses of NBI-1065845 was comparable to the placebo. There were no deaths or serious adverse events.&nbsp;
The discontinuation rates were low throughout the study.
William Blair suggested the company&#8217;s recent update is a positive development, especially considering its inconsistent performance in the midstage pipeline, particularly with the neuropsychiatry portfolio obtained from Takeda.&nbsp;
Although depression remained challenging to address due to placebo effects, the update indicated the potential for a significant sales opportunity exceeding $1 billion for a new antidepressant mechanism.
Despite this, there is cautious optimism, although replication in pivotal studies is crucial.&nbsp;
Investors are also eagerly awaiting updates on the M4-agonist &#8216;568 program, given positive results from similar programs in the industry.&nbsp;
In the meantime, the company&#8217;s value largely depends on Ingrezza revenue, with anticipation for the first-quarter earnings call on May 1. 
William Blair maintained an <a href="https://www.benzinga.com/quote/NBIX/analyst-ratings" target="_blank" rel="noreferrer noopener">Outperform rating on Neurocrine</a>.
NBIX Price Action: NBIX shares are up 4.29% at $139.31 at the last check Tuesday.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38385424/quest-diagnostics-says-sales-in-q1-increased-for-the-first-time-since-the-height-of">Quest Diagnostics Says Sales In Q1 Increased For The First Time Since The Height Of Pandemic</a>
Photo: Julia Koblitz via Unsplash

Biotech

Health Care

General

NBIX

Neurocrine Biosciences Says Treatment Can Alleviate Several Symptoms Associated With Depressive Disorder

Rumors

Watching Zoom Video Communications; Hearing Columbia University Classes May Go Remote For The Rest Of The Year Due To Protests

<a href="https://president.columbia.edu/news/statement-columbia-university-president-minouche-shafik-4-22" title="https://president.columbia.edu/news/statement-columbia-university-president-minouche-shafik-4-22">https://president.columbia.edu/news/statement-columbia-university-president-minouche-shafik-4-22</a>

On Monday, Columbia University President Cited Protests As Cause For Virtual Classes

Wedbush analyst David Nierengarten reiterates Vor Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOR#NASDAQ">VOR</a>) with a Outperform and maintains $11 price target.

Wedbush Reiterates Outperform on Vor Biopharma, Maintains $11 Price Target

WIIM

SMCI

Super Micro Computer shares are trading higher as the stock rebounds following Friday's selloff.

Canaccord Genuity analyst Jeremy Hoy maintains Skeena Resources (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SKE#TSX">SKE</a>) with a Speculative Buy and raises the price target from C$14.75 to C$17.

TSX:SKE

Canaccord Genuity Maintains Speculative Buy on Skeena Resources, Raises Price Target to C$17

GE Vernova shares are trading higher. GE Aerospace today reported Q1 earnings.

ALAB

Astera Labs shares are trading higher as AI and semiconductor-related stocks rebound after Friday's drop.

JP Morgan analyst Reginald Smith reiterates Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) with a Neutral.

AFRM

JP Morgan Reiterates Neutral on Affirm Holdings

In early 2021, Ark Invest, led by tech investor Cathie Wood, managed a staggering $59 billion across six funds, making it the world&#8217;s <a href="https://www.benzinga.com/topic/cathie-wood">largest active ETF manager.</a>
Three years later, a significant 80% downturn occurred, with assets under management in those funds plummeting to just $11.1 billion. This decline can be attributed to a combination of factors, including high interest rates dampening Wood&#8217;s long-term speculative tech investments and the subsequent wave of outflows from disillusioned investors.
To give a sense of the&nbsp;scale, investors had withdrawn a substantial $2.24 billion from Wood&#8217;s actively managed funds by the end of the third week of April 2024, nearly tripling the outflows seen throughout all of 2023. 
Notably, Ark&#8217;s flagship fund, the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), experienced outflows exceeding $1.3 billion in less than four months this year, far surpassing the $578 million seen in 2023.
Below is a breakdown of the fund flows for Ark&#8217;s actively managed ETFs in 2024 compared to 2023:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ARK Actively Managed ETFs</th>
<th>YTD 2024 Fund Flows (as of Apr. 19)</th>
<th>2023 Fund Flows</th>
</tr>
</thead>
<tbody>
<tr>
<td>ARK Innovation ETF </td>
<td>-1.37 B</td>
<td>-578.15 M</td>
</tr>
<tr>
<td>ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>)</td>
<td>-211.66 M</td>
<td>-63.93 M</td>
</tr>
<tr>
<td>ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>)</td>
<td>-363.74 M</td>
<td>40.41 M</td>
</tr>
<tr>
<td>ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) </td>
<td>-144.93 M</td>
<td>-58.26 M</td>
</tr>
<tr>
<td>ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>)</td>
<td>-126.76 M</td>
<td>-53.14 M</td>
</tr>
<tr>
<td>ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>)</td>
<td>-21.97 M</td>
<td>-42.23 M</td>
</tr>
</tbody>
<tfoot>
<tr>
<td>Total</td>
<td>2.24 B</td>
<td>755.3 M</td>
</tr>
</tfoot>
</table>
<figcaption class="wp-element-caption">Source: VettaFi</figcaption></figure>
"The loyal shareholders have become frustrated," Todd Rosenbluth, head of research at data provider VettaFi, told <a href="https://www.wsj.com/finance/investing/ark-funds-cathie-wood-investors-56e2950c">The Wall Street Journal</a>. 
Despite the promising outlook for Ark&#8217;s growth and disruptive technology investment style this year, Rosenbluth said heavy concentration of funds in underperforming companies remains a concern. 
With the sole exception of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), none of the other top 10 holdings in the Ark innovation ETF have yielded positive returns in 2024.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Weight</td>
<td>Return</td>
</tr>
<tr>
<td>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</td>
<td>9.38%</td>
<td>35.60%</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>9.32</td>
<td>-41.76</td>
</tr>
<tr>
<td>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>)</td>
<td>8.27</td>
<td>-33.26</td>
</tr>
<tr>
<td>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)</td>
<td>6.98</td>
<td>-4.80</td>
</tr>
<tr>
<td>UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) </td>
<td>5.69</td>
<td>-21.46</td>
</tr>
<tr>
<td>CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSRP#NASDAQ">CSRP</a>)</td>
<td>4.92</td>
<td>-7.28</td>
</tr>
<tr>
<td>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>)</td>
<td>4.50</td>
<td>-15.59</td>
</tr>
<tr>
<td>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>)</td>
<td>4.47</td>
<td>-19.14</td>
</tr>
<tr>
<td>Robinhood Markets, Inc. </td>
<td>4.21</td>
<td>38.85</td>
</tr>
<tr>
<td>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>)</td>
<td>3.33</td>
<td>-43.14</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 23, 2024</figcaption></figure>
Read Also: <a href="https://www.benzinga.com/markets/equities/24/04/38368840/cathie-woods-ark-invest-seizes-tesla-dip-acquires-over-17m-in-shares-ahead-of-q1-results-zoom-st">Cathie Wood&#8217;s Ark Invest Seizes Tesla Dip, Acquires Over $17M in Shares Ahead Of Q1 Results — Zoom Stock Dumped</a>
<h1 class="wp-block-heading">Short Strategies On Cathie Wood&#8217;s Ark Funds Emerge</h1>
The underperformance of Cathie Wood&#8217;s actively managed funds has prompted other ETF issuers to undertake short strategies on Ark ETFs. 
AXS Investments launched the AXS Short Innovation Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SARK#NASDAQ">SARK</a>) at the end of 2021, which shorts Wood&#8217;s flagship ARKK fund and has seen a 40% increase since inception. During the same timeframe, the ARKK Innovation ETF were down by over 60%. 
In May 2022, AXS Investments also launched the AXS 2X Innovation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARK#NASDAQ">TARK</a>), which shorts ARKK with a leverage of 2x. 
<h1 class="wp-block-heading">Chart: Shorting Cathie Wood&#8217;s Flagship Fund Brings Robust Returns </h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-1024x495.png" alt="" class="wp-image-304720" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Greg Bassuk, CEO of AXS Investments, highlighted on CNBC last month a spike in inflows affecting these two funds: "With thousands of startups and small high growth companies driving innovation having received financing from Silicon Valley Bank and others like it, this really could be a harbinger for concern around the ability of these kinds of innovation-driving companies to get financing going forward."
Seven days following the fallout of Silicon Valley Bank, the AXS Short Innovation Daily ETF and the AXS 2X Innovation ETF witnessed an 80% and 50% jump in trading activity, respectively. 
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38372445/cathie-woods-ark-invest-says-bitcoin-could-be-priming-for-over-3-000-rally-over-nex">Cathie Wood&#8217;s Ark Invest Says Bitcoin Could Be Priming For Over 3,000% Rally Over Next 12 Months As King Crypto Becomes Less Inflationary Than Gold After Halving</a>
Cathie Wood photo courtesy of Ark Invest.

Specialty ETFs

New ETFs

ARKF

ARKG

ARKK

ARKQ

ARKW

ARKX

CSRP

HOOD

PATH

RBLX

ROKU

SARK

TARK

Cathie Wood's Ark Empire Bleeds As Investor Outflows Spike: 'The Loyal Shareholders Have Become Frustrated'

Mueller Industries shares are trading higher following mixed Q1 results.

Wedbush analyst David Nierengarten reiterates TScan Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCRX#NASDAQ">TCRX</a>) with a Outperform and maintains $10 price target.

TCRX

Wedbush Reiterates Outperform on TScan Therapeutics, Maintains $10 Price Target

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The present and future of the internet is in cloud computing. This branch of computing is the backbone of digital transformation in modern enterprises. It enables businesses to access, store and process data and applications over the internet, rather than having to rely on in-house servers. 



Of course, not all cloud computing businesses have made great investments as of late. The fact of the matter is, cloud computing, despite its advantages, is still costly for a lot of firms, and in times of economic uncertainty, not all firms are ready to make the switch over to the cloud. This means the market is highly competitive and customer acquisition is not always straightforward. Stepping away from the dynamics of the market for a second, there are also inflated valuation multiples to take into account.



Below are three sorry cloud computing stocks to sell in March while you still can.



<h2>Snowflake (SNOW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/snow-1600-300x169.png" alt="Snowflake symbol and logo at the company corporate headquarters in Silicon Valley. SNOW stock."><div>Source: Sundry Photography / Shutterstock</div></div>Snowflake&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/snow-stock-quote/">SNOW</a>) is a software platform that essentially serves as a cloud-based data warehouse allowing customers to store and analyze large amounts of data. The cloud computing company received a &ldquo;COVID bump&rdquo; as the work-from-home trend became a reality for many white-collar professionals during the pandemic years. In the beginning, Snowflake essentially revolutionized data warehousing, most of which used to be on-prem, by&nbsp;<a href="https://www.drift.com/blog/how-snowflake-grew/" target="_blank">establishing a cloud network around data storage and charging reasonable prices based on utilization</a>. From 2019 to 2021, Snowflake was able to grow revenue in triple-digit YoY growth rates.



In both 2022 and 2023, we have seen revenue growth rates nearly halve. Slower growth is expected given the way the global economy has struggled with high inflation and elevated interest rates. Snowflake still remains pessimistic on growth. In their Q4 earnings print, while <a href="https://investors.snowflake.com/news/news-details/2024/Snowflake-Reports-Financial-Results-for-the-Fourth-Quarter-and-Full-Year-of-Fiscal-2024/">financial figures</a> came in above Wall Street&rsquo;s estimates, sales guidance for their upcoming fiscal year came in much lower than expected. Also, an announced CEO change hasn&rsquo;t inspired investor confidence either.



Snowflake is not only trading at an insane P/E multiple, but the stock has already plummeted 20% on a year-to-date basis, making it one of the cloud computing stocks to be selling in March.



<h2>Fastly (FSLY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/fsly-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the Fastly (FSLY) website."><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Fastly&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/fsly-stock-quote/">FSLY</a>) is another cloud computing stock investors should avoid. It is a cloud-based &ldquo;edge computing&rdquo; platform that provides content delivery network (CDN) and security services to customers such as Shopify (NYSE:<a href="https://investorplace.com/stock-quotes/shop-stock-quote/">SHOP</a>) and Spotify (NYSE:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>). For those unaware, having a CDN helps customers to affordably store content and data on servers. Because a CDN is a &ldquo;distributed network,&rdquo; users of a website or app can quickly pull up content because they would have access to the closest server.



Fastly has, like many cloud companies, experienced falling top-line growth rates in recent years. The company&rsquo;s recent <a href="https://investors.fastly.com/news/news-details/2024/Fastly-Announces-Fourth-Quarter-and-Full-Year-2023-Financial-Results/default.aspx">Q4 earnings report</a> failed to impress investors. Fourth quarter revenue figures came in below Wall Street&rsquo;s estimates and 2024 guidance left much to be desired.



The cloud computing firm&rsquo;s share price has fallen 28% YTD, and its high forward earnings multiple does not indicate the stock could recover anytime soon.



<h2>Datadog (DDOG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/ddog-stock-1-300x169.jpg" alt="The Datadog (DDOG) logo displayed on a laptop screen."><div>Source: Karol Ciesluk / Shutterstock.com</div></div>Datadog&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/ddog-stock-quote/">DDOG</a>) is a&nbsp;<a href="https://investors.datadoghq.com/static-files/db5e65af-1361-45d4-b74e-ded763160a77" target="_blank">cloud-based monitoring and analytics platform</a>&nbsp;that helps customers track the performance and health of their applications, infrastructure and services. Driving Datadog&rsquo;s&nbsp;<a href="https://app.koyfin.com/fa/00000000-bc2f-4395-abce-161f8023d0c9/eq-96eqav" target="_blank">strong revenue growth throughout the years</a>&nbsp;has been the rise of SMBs (small and medium-sized enterprises) and large enterprises utilizing cloud-based applications and services. 



The company&rsquo;s Q4 earnings report appeared as a return to form as revenue and guidance came in <a href="https://finance.yahoo.com/news/datadog-ddog-q4-earnings-beat-150100859.html#:~:text=Datadog%20DDOG%20reported%20fourth%2Dquarter,the%20consensus%20estimate%20by%204.05%25.">well-above</a> Wall Street&rsquo;s estimates. Still, Datadog&rsquo;s forward price-to-earnings multiple makes little sense trading at 85.8x forward earnings. The stock itself has also exhibited meek performance, trading relatively flat on a year-to-date basis. 



While Datadog is not the worst performing stock on this list, its underperformance when compared to rest of the market and high valuation makes it a must-sell in March.



On the date of publication, Tyrik Torres did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/3-sorry-cloud-computing-stocks-to-sell-in-march-while-you-still-can/">3 Sorry Cloud Computing Stocks to Sell in March While You Still Can</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Sorry Cloud Computing Stocks to Sell in March While You Still Can

Analyst Madeline Brooks of Bank of America Securities reiterated a Buy rating on Fastly (FSLY – Research Report), reducing the price target to $18....

Fastly Stock Poised for Turnaround and Growth Rebound: A 'Buy' Rating with a Lowered Price Objective

Fastly: +30% Upside Exists, But So Do Significant Challenges

Piper Sandler analyst James Fish upgraded the rating on Fastly (FSLY – Research Report) to a Buy yesterday, setting a price target of $16.00. James...

Buy Rating Justified: Fastly's Growth, Market Share Gain, and Promising Financial Outlook

Biggest stock movers today: Crypto stocks, FSLY, and more

Fastly jumps as CDN business heats up, receives upgrade: Piper Sandler

Fastly upgraded to Overweight as CDN business heats up: Piper Sandler

Biggest stock movers today: Crypto stocks, DCO, PERI, FSLY, and more

Fastly: It's A Great Time To Buy In Amid Lower Expectations

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BKKT

BTDR

CIFR

CLSK

DDOG

MARA

RIOT

SDIG

SNOW

Press Releases

The Race to Adapt: Fastly Research Reveals Businesses Lost Almost 10% of Their Revenue From Cyber Attacks in the Last Year

Fastly Named a Leader for Edge Development Platforms 2023 by Independent Research Firm

Fastly Names Kip Compton as Chief Product Officer

Fastly to Announce Fourth Quarter 2023 Financial Results

Opinion

Thinking about trading options or stock in Fastly, Super Micro Computer, Alphabet, Archer-Daniels-Midland, or IBM?

Fastly to Present at Upcoming Investor Conferences

Fastly Announces Fourth Quarter and Full Year 2023 Financial Results

Fastly Launches New Global Event Series: Xcelerate 2024

Fastly Unveils New Bot Management Solution to Help Detect and Block Threats at the Edge