Golden Arrow Merger Stock (NASDAQ: GAMCU)

Latest News for Golden Arrow Merger Stock (NASDAQ:GAMCU)

Golden Arrow Merger Corp is a blank check company.

Golden Arrow Merger Corp

B of A Securities analyst Justin Post maintains Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) with a Buy and lowers the price target from $91 to $87.

News

Price Target

Analyst Ratings

UBER

B of A Securities Maintains Buy on Uber Technologies, Lowers Price Target to $87

In light of recent regulatory actions, JPMorgan analysts remain confident that the SEC's scrutiny of Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) Crypto will not impede the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38548916/patrick-mchenry-questions-secs-transparency-on-ethereum-as-a-security">approval of spot Ethereum ETFs</a>.
What Happened: This perspective comes even as the retail brokerage faces potential enforcement from the SEC for its dealings in what are alleged to be unregistered securities, The Block <a href="https://www.theblock.co/post/293417/jpmorgan-sec-wells-notice-robinhood-crypto-spot-ethereum-etf-approval?utm_source=rss&amp;utm_medium=rss">reported</a>.
Earlier this week, Robinhood announced that it had received a Wells notice from the SEC, which suggests impending enforcement actions <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38646460/robinhood-receives-wells-notice-from-sec-over-crypto-business">related to its cryptocurrency operations. </a>
Robinhood Crypto allows trading in a variety of cryptocurrencies, including Bitcoin and Ether, among others. 
According to Nikolaos Panigirtzoglou and his team at JPMorgan, this development reflects ongoing efforts by the SEC to assert that most cryptocurrencies, with the possible exceptions of Bitcoin and Ether, should be regulated as securities.
&#8220;In our opinion, it does not look like the Wells notice should pose an obstacle to an eventual approval by the SEC of spot Ethereum ETFs, although perhaps not as soon as this month,&#8221; stated Panigirtzoglou. 
He further noted that similar to prior approvals for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) related financial products, the path for Ethereum might follow a similar trajectory, potentially involving legal challenges if initial SEC approvals are denied.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38710689/who-do-i-sue-jpmorgan-exec-sees-public-blockchains-as-inadequate-for-large-transactions">&#8216;Who Do I Sue?&#8217; JPMorgan Exec Sees Public Blockchains As Inadequate For Large Transactions</a>
Regarding the specific implications of the Wells notice on Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Panigirtzoglou clarified, &#8220;No, we don&#8217;t think it is implied by the Wells notice to Robinhood. 
Robinhood does not only facilitate trading on Bitcoin and Ethereum but also on 13 further tokens.
Eventually, the status of Ethereum is likely to be determined by legislation and as we argued previously (and as it was revealed in Hinman&#8217;s papers last June) there might be an eventually &#8216;middle&#8217; category for Ethereum, neither commodity nor security but something in between.&#8221;
The market&#8217;s reaction to potential delays in the approval of a spot Ether ETF seems muted, as evidenced by the ongoing discount in the net asset value of the Grayscale Ethereum Trust.
The analysts believe that the market has tempered its expectations for immediate regulatory approvals.
In a strategic shift, Grayscale withdrew its application for an ether futures ETF, which according to Panigirtzoglou, might indicate a preference to focus on converting its existing Ethereum trust into a spot ETF. 
This move is seen as part of a broader strategy to align with potential regulatory outcomes, with key decisions expected by May 23.
What&#8217;s Next: As the digital asset sector continues to evolve, the implications of these regulatory developments will be a key topic at Benzinga&#8217;s Future of Digital Assets event on Nov. 19.
This event will offer critical insights into how companies and investors can navigate the complex regulatory landscape, and what the future holds for mainstream cryptocurrency <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38702099/is-ethereum-this-cycles-basket-case-10x-research-points-out-eths-only-bull-story">products such as Ethereum ETFs.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38706497/bitcoin-etf-issuer-vaneck-launches-memecoin-index-includes-doge-shib-and-4-more-meme-coins">Bitcoin ETF Issuer VanEck Launches &#8216;MEMECOIN&#8217; Index, Includes DOGE, SHIB And 4 More Meme Coins</a>
Image: Shutterstock

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

Cryptocurrency

$BTC

$ETH

HOOD

JPMorgan Analysts Optimistic About Future Approval Of Spot Ether ETFs Despite Regulatory Hurdles

WIIM

EQIX

Equinix shares are trading higher following Q1 earnings.

Madison Square Garden (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $(0.12) by 150 percent. This is a 85.71 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $228.313 million which missed the analyst consensus estimate of $324.634 million by 29.67 percent. This is a 13.46 percent increase over sales of $201.229 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

MSGE

Madison Square Garden Q3 2024 GAAP EPS $0.06 Beats $(0.12) Estimate, Sales $228.313M Miss $324.634M Estimate

Biotech

Health Care

General

BCRX

BioCryst Presents New Real-world Evidence Showing Significant Reductions In Healthcare Resource Utilization Among Patients With Hereditary Angioedema Following Initiation Of Orladeyo (Berotralstat)

Cash, cash equivalents, and short-term investments were $135.3 million as of March 31, 2024, which are expected to provide financial runway through four Phase 2 clinical milestones and into mid-2026. &nbsp;

QTTB

Q32 Bio Reports Q1 2024 GAAP EPS Of $(6.33)

B of A Securities analyst Jessica Reif Ehrlich upgrades Fox (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) from Neutral to Buy and raises the price target from $34 to $40.

Upgrades

FOXA

B of A Securities Upgrades Fox to Buy, Raises Price Target to $40

Hyatt Hotels shares are trading lower following a Q1 earnings miss.

Suburban Propane Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPH#NYSE">SPH</a>) reported quarterly earnings of $1.63 per share which missed the analyst consensus estimate of $1.89 by 13.76 percent. The company reported quarterly sales of $498.09 million which missed the analyst consensus estimate of $511.00 million by 2.53 percent. This is a 5.40 percent decrease over sales of $526.50 million the same period last year.

Suburban Propane Partners Q2 2024 GAAP EPS $1.63 Misses $1.89 Estimate, Sales $498.09M Miss $511.00M Estimate

Warner Music Group shares are trading lower following Q2 earnings.

Amdocs shares are trading lower following Q2 earnings.

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

Reiteration

ERAS

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

Barry Sternlicht, the CEO of Starwood Capital Group, expressed his concern about the U.S. real estate market and its potential impact on regional banks. Sternlicht predicts that the struggling real estate industry could result in a bank failure every week.
What Happened: Sternlicht, a billionaire real estate investor, is apprehensive about the future of the more than 4,000 regional and community banks in the U.S. due to challenges such as higher interest rates, vacancies, and inflation, <a href="https://fortune.com/2024/05/08/billionaire-real-estate-investor-barry-sternlicht-one-bank-failure-each-week/">reported</a> Fortune on Wednesday. He believes these factors could lead to a significant number of bank failures.
"I think people are looking for these cracks and you're going to see the cracks develop now. You're going to see a regional bank fail every day, or not—every week, maybe two a week," he&nbsp;told CNBC&nbsp;on Tuesday.&nbsp;
Despite Sternlicht&#8217;s prediction, only one U.S. bank has failed this year. Republic First Bank, a regional lender operating in Philadelphia, New York, and New Jersey, faced issues with rising interest rates and had its $6 billion in assets and $4 billion in deposits seized by the Federal Deposit Insurance Corporation.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38690365/pro-bitcoin-president-javier-mileis-argentina-introduces-10-000-peso-notes-as-it-combats-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Pro-Bitcoin President Javier Milei&#8217;s Argentina Introduces 10,000-Peso Notes As It Combats Hyperinflation,</a>
Sternlicht has been warning about potential problems due to rising interest rates in the real estate and banking sectors for over two years. He previously criticized the Federal Reserve&#8217;s use of &#8220;old inflation data&#8221; to address the economy and warned of an impending recession due to soaring borrowing costs.
Despite the U.S. economy&#8217;s resilience to higher interest rates and inflation by mid-2023, Sternlicht still believes that certain segments, including real estate and regional banking, cannot withstand Federal Reserve Chair Jerome Powell&#8216;s rapid rate hikes.
Why It Matters: Sternlicht&#8217;s warnings echo those of other industry leaders. In March, Fed Chair Powell also cautioned about potential issues <a href="https://www.benzinga.com/markets/equities/24/03/37565353/there-will-be-more-failures-powell-says-in-warning-for-regional-banks-over-commercial-real-estat">at regional banks</a> due to underwater real estate loans. 
Similarly, in September, Kevin O&#8217;Leary warned that a <a href="https://www.benzinga.com/real-estate/23/09/34794584/these-banks-are-going-to-fail-kevin-oleary-warns-that-commercial-real-estate-collapse-will-have-dire">commercial real estate collapse</a> could lead to the failure of several banks.
These warnings come amid a <a href="https://www.benzinga.com/economics/macro-economic-events/24/02/36982039/hedge-fund-boss-warns-chinas-real-estate-crisis-is-us-financial-crisis-on-steroid">global real estate crisis</a>, with Hayman Capital hedge fund manager Kyle Bass warning that China&#8217;s real estate collapse could outpace the U.S. financial crisis. The potential failure of U.S. regional banks could have significant implications for the global economy.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38643266/why-veteran-wall-street-investor-believes-were-still-in-a-bull-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Veteran Wall Street Investor Believes We&#8217;re Still In A Bull Market</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</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 create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Fintech news covering the emerging Financial Technology services sector

Fintech

Financing

Global

Economics

A Bank Failure Each Week? Real Estate Mogul Barry Sternlicht Predicts Gloom From Loan Pressures: 'You're Going To See Cracks Develop Now'

Baird analyst Colin Sebastian maintains Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) with a Outperform and lowers the price target from $87 to $77.

SHOP

Baird Maintains Outperform on Shopify, Lowers Price Target to $77

EPAM

EPAM Systems shares are trading lower after the company lowered its FY24 revenue guidance.

FiscalNote Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOTE#NYSE">NOTE</a>) reported quarterly losses of $(0.12) per share which beat the analyst consensus estimate of $(0.17) by 29.41 percent. This is a 20 percent decrease over losses of $(0.10) per share from the same period last year. The company reported quarterly sales of $32.112 million which beat the analyst consensus estimate of $31.111 million by 3.22 percent. This is a 1.85 percent increase over sales of $31.529 million the same period last year.

NOTE

FiscalNote Holdings Q1 2024 Adj EPS $(0.12) Beats $(0.17) Estimate, Sales $32.112M Beat $31.111M Estimate

Hedge Funds

Reuters Reported Activist Ancora Poised To Win Some Board Seats At Norfolk Southern, Citing Sources

Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely facing a severe&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38511618/tesla-researcher-thinks-ev-giants-biggest-challenge-in-q2-comes-from-one-of-its-cas" rel="noreferrer noopener">inventory pile-up in Europe</a>, underscoring the intense slowdown in the EV industry, according to satellite images available publicly.
What Happened:&nbsp;Google Earth satellite images, first posted on Reddit, show numerous Teslas parked at the Neuhardenberg airfield, probably unsold from the&nbsp;<a href="https://www.benzinga.com/news/24/05/38691492/teslas-giga-berlin-shuts-down-but-not-for-as-long-as-you-thought-senior-exec-clarifies">company&#8217;s&nbsp;Berlin Gigafactory</a> (its only European plant). 
The Neuhardenberg airfield is located in the middle of the German capital region, near the Berlin Brandenburg Airport, with a 2,400-meter-long runway, according to the&nbsp;airport&#8217;s&nbsp;official website.
As per the latest satellite images from March, the number of parked Teslas appeared to run in the thousands, and according to the Reddit&nbsp;thread&nbsp;&#8220;look like mainly Model Ys,&#8221;&nbsp;although this was not immediately clear.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="590" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/09071103/Tesla-Germany-Map-02-1024x590.jpg" alt="" class="wp-image-330209" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/09071103/Tesla-Germany-Map-02-1024x590.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/09071103/Tesla-Germany-Map-02-300x173.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/09071103/Tesla-Germany-Map-02-768x443.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/09071103/Tesla-Germany-Map-02-1536x886.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/09071103/Tesla-Germany-Map-02.jpg 1873w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Satellite images showing Teslas parked at a German airfield near Berlin captured in March 2024. Courtesy: Google Earth Pro</figcaption></figure>
Why It Matters:&nbsp;Tesla&#8217;s&nbsp;global vehicle inventory jumped 87% from last year to 28 days of supply in the first quarter. The&nbsp;company&#8217;s&nbsp;global deliveries fell to 386,810, marking an 8.5% year-on-year dip as demand dwindled. The company, however, produced 433,371 vehicles in the time frame.&nbsp;
As per data by the&nbsp;European Automobile Manufacturers Association,&nbsp;Tesla's&nbsp;new car registrations in the European Union also fell by 4.7% in the first quarter to 66,203 units.
Impact On Tesla Financials:&nbsp;The waning demand and piling inventory weighed heavily on&nbsp;Tesla&#8217;s<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube" rel="noreferrer noopener">&nbsp;first-quarter earnings.</a>&nbsp;The company reported a revenue of $21.3 billion, down from the $23.33 billion reported a year earlier.&nbsp;Tesla's&nbsp;net profit in the quarter stood at $1.13 billion, falling 55% from $2.51 billion a year earlier.
Price Action:&nbsp;Tesla stock closed 1.7% lower on Wednesday at $174.72 and dropped 0.2% after hours.&nbsp;The stock is down nearly 30% year-to-date, according to data&nbsp;<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">from Benzinga Pro.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38694651/rivian-aims-to-churn-out-215k-evs-from-illinois-factory-with-r2-leading-charge-and-save-over-2b" target="_blank" rel="noreferrer noopener">Rivian Aims To Churn Out 215K EVs From Illinois Factory, With R2 Leading Charge, And Save Over $2B</a>
Photo: Google Earth Pro

Rumors

Tech

TSLA

What's With Thousands Of Teslas Piling Up At A German Airfield? Satellite Images Hint At Intense Inventory Pressure For EV Giant

Guidance

Larimar Therapeutics, Inc. - Common Stock

LRMR

Larimar Therapeutics' Cash, Cash Equivalents, And Marketable Securities Of $239M As Of March 31, 2024, Extends Projected Cash Runway Into 2026

Baird analyst William Power maintains RingCentral (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) with a Neutral and raises the price target from $32 to $35.

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Latest News for Golden Arrow Merger Stock (NASDAQ:GAMCU)

Thursday, December 15, 2022

Wednesday, March 17, 2021