GoodRx Holdings Stock (NASDAQ:GDRX), Trade Ideas

GoodRx Holdings

GoodRx Holdings Inc is a consumer-focused digital healthcare platform that aims to lower the cost of healthcare in the United States. It operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and provides access to negotiated prices through codes that can be used to save money on prescriptions across the United States. GoodRx generates revenue from core business from pharmacy benefit managers (PBMs) that manage formularies and prescription transactions including establishing pricing between consumers and pharmacies. It also offers various healthcare products and services, including pharma manufacturer solutions, subscriptions, and telehealth services.

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GoodRx Holdings Inc (NASDAQ: GDRX) got an upgrade last month from Wells Fargo analyst.

GoodRx Holdings Analyst Turns Bullish Ahead Of Q1 Earnings

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Shares of  Landos Biopharma, Inc. (NASDAQ: LABP) rose sharply during Monday’s session following acquisition news.

Why Landos Biopharma Shares Are Trading Higher By Over 170%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Wells Fargo&#39;s upgrade of GoodRx Holdings. Analysts anticipate strong revenue visibility and EBITDA margins, setting the stage for potential stock outperformance in 2024-2025.

Telemedicine GoodRx Has Potential To Excel, Close Valuation Gap By 2025, Analyst Says

GoodRx Holdings, Inc. - Class A Common Stock

GoodRx Holdings Inc

Tesla, Inc. CEO&nbsp;Elon Musk&nbsp;took a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37117493/a-first-in-autonomous-vehicle-history-googles-waymo-retracts-self-driving-software-after-phoenix-cra" rel="noreferrer noopener">swipe at&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/02/37117493/a-first-in-autonomous-vehicle-history-googles-waymo-retracts-self-driving-software-after-phoenix-cra" rel="noreferrer noopener">Waymo</a>&#8216;s self-driving cars, suggesting his company&#8217;s stainless steel Cybertruck might be better suited for robotaxis in San Francisco due to recent vandalism incidents.
What Happened:&nbsp;Musk responded to a parody video by YouTuber&nbsp;Ross Smith&nbsp;featuring two women attacking a Cybertruck. While one woman attempts to dent the doors, the other fails to break the windshield with a tennis racquet.
&#8220;Cybertruck might be needed for a&nbsp;robotaxi&nbsp;in San Francisco,&#8221; Musk posted with a laughing emoji.
Tesla claims the Cybertruck is highly durable with its stainless steel exterior and armored glass windows.&nbsp;
The company says the steel doors&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36040908/watch-teslas-cybertruck-astounds-in-al-capone-style-bulletproof-demo-survives-tommy-gun-barrage" rel="noreferrer noopener">can withstand bullets</a>&nbsp;without penetration, and the glass can resist a baseball at 70 mph.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cybertruck might be needed for a robotaxi in San Francisco &#x1f602;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782630419944411222?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Why It Matters:&nbsp;San Francisco has seen hostility towards self-driving vehicles, with several incidents of vandalism.&nbsp;
Earlier this year, a crowd vandalized and even&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37061874/eyewitness-describes-wild-experience-as-crowd-vandalizes-and-sets-googles-waymo-self-driving-car-on" rel="noreferrer noopener">set fire to a Waymo&nbsp;robotaxi</a>&nbsp;using fireworks in Chinatown. This incident was the most severe attack on autonomous vehicles in the U.S. so far.
Earlier this week, Musk expressed sympathies for a Waymo vehicle&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38351567/feel-sorry-for-the-bots-tesla-ceo-elon-musk-reacts-to-waymo-robotaxi-vandalism-in-san-francisco" rel="noreferrer noopener">damaged by a vandal</a>&nbsp;in San Francisco. &#8220;Does make you feel sorry for the bots,&#8221; he wrote.
In February, Waymo issued a voluntary recall for its autonomous vehicle software after two incidents in Phoenix on Dec. 11, 2023, where two Waymo robotaxis crashed into the same towed pickup truck within minutes of each other.
Tesla is also developing self-driving robotaxis, with their model expected to be unveiled on Aug. 8.
Check out more of Benzinga'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/24/04/38353241/rivian-may-bring-back-a-beloved-feature-modified-tank-turn-for-off-roading">Rivian May Bring Back A Beloved Feature: Modified Tank Turn For Off-Roading</a>
Photo via Shutterstock

Tech

TSLA

Tesla CEO Elon Musk Takes Swipe At Waymo, Says Cybertruck Might Be Needed For Robotaxis In San Francisco Amid Vandalism Frenzy

Berenberg analyst Tammy Qiu upgrades STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) from Hold to Buy.

Berenberg Upgrades STMicroelectronics to Buy

Piper Sandler analyst Arvind Ramnani reiterates PowerSchool Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWSC#NYSE">PWSC</a>) with a Overweight and maintains $29 price target.

Reiteration

PWSC

Piper Sandler Reiterates Overweight on PowerSchool Holdings, Maintains $29 Price Target

Needham analyst Mike Cikos reiterates Tenable Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) with a Buy and maintains $62 price target.

TENB

Needham Reiterates Buy on Tenable Holdings, Maintains $62 Price Target

Japanese tech giant SoftBank Group Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) has announced its plans to invest a significant sum in the development of an advanced artificial intelligence (AI) model, leveraging NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
What Happened: SoftBank is set to invest a whopping $960 million over the next two years to create a cutting-edge Japanese-language-specific generative AI model and enhance its computing facilities, as <a href="https://asia.nikkei.com/Business/Technology/SoftBank-to-spend-960m-to-boost-computing-power-for-generative-AI2">reported</a> by Nikkei on Monday.
These large language models (LLM) necessitate advanced graphics processing units, which SoftBank intends to acquire from Nvidia, the report stated, citing anonymous sources.
The investment, totaling 150 billion yen ($960 million), will be allocated between 2024 and 2025. This sum is in addition to the 20 billion yen that SoftBank spent on computing infrastructure last year.
Once the investment is completed, SoftBank is expected to possess the most powerful computing capabilities in Japan, potentially making it the largest investment of its kind by any Japanese company.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38336261/tesla-musk-face-moment-of-truth-with-q1-earnings-call-believers-are-giving-up-on-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Musk Face &#8216;Moment Of Truth&#8217; With Q1 Earnings Call: &#8216;Believers Are Giving Up On The Story And Throw</a>
Japan is currently lacking private companies with the high-performance supercomputers required to build LLM, despite a growing interest in the technology. SoftBank&#8217;s reported investments could potentially fill this gap, providing Japan with a strong domestic player in the generative AI space.
Why It Matters: This move by SoftBank is in line with its recent focus on AI and chip development. Earlier in February, SoftBank&#8217;s founder, Masayoshi Son, announced plans to raise $100 billion for a new chip venture targeting <a href="https://www.benzinga.com/news/24/02/37191809/race-for-ai-chipmaking-after-sam-altman-softbanks-masayoshi-son-seeks-100b-to-bankroll-chip-venture">the AI market</a>, potentially posing a challenge to Nvidia.
SoftBank&#8217;s stock price has been on the rise, up by about 20% year-to-date, as the company shifts its focus to AI. The company is also the majority owner of the chip company Arm, which has seen a boost in sales expectations amid the AI boom.
Japan&#8217;s AI market is expected to grow to around $13 billion by 2030, about 17 times larger than in 2023, according to <a href="https://www.statista.com/outlook/tmo/artificial-intelligence/generative-ai/japan#market-size">data</a> from Statista Market Insights.
Read Next: <a href="https://www.benzinga.com/news/24/04/38356025/democrats-lost-a-whole-lot-of-love-for-tesla-cars-last-fall-after-elon-musks-erratic-posts-on-x-surv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Democrats Lost A Whole Lot Of Love For Tesla Cars Last Fall After Elon Musk&#8217;s Erratic Posts On X, Survey Reveals</a>
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Nvidia Chips To Power Softbank's Near $1B AI Investment: Report

California, boasting&nbsp;one of the world&#8217;s&nbsp;largest&nbsp;power grids, recently achieved a significant feat in battery storage, drawing the attention of none other than&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38370123/elon-musk-admits-tesla-ads-were-far-too-generic-after-laying-off-us-marketing-team-couldve-been-any" rel="noreferrer noopener">Tesla</a><a target="_blank" href="https://www.benzinga.com/news/24/04/38370123/elon-musk-admits-tesla-ads-were-far-too-generic-after-laying-off-us-marketing-team-couldve-been-any" rel="noreferrer noopener">&nbsp;CEO&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/04/38370123/elon-musk-admits-tesla-ads-were-far-too-generic-after-laying-off-us-marketing-team-couldve-been-any" rel="noreferrer noopener">Elon Musk</a>.
What Happened:&nbsp;A Renew Economy&nbsp;<a target="_blank" href="https://reneweconomy.com.au/battery-storage-becomes-biggest-source-of-supply-in-evening-peak-in-one-of-worlds-biggest-grids/" rel="noreferrer noopener">report</a>&nbsp;published on Thursday highlighted that battery storage became the largest single source of power for the California grid for the first time last Tuesday. The report also referenced a tweet from data analyst&nbsp;Joe Deely, who noted evening peak output of battery storage exceeded 6 gigawatts for the first time.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Two things happened on the <a href="https://twitter.com/California_ISO?ref_src=twsrc%5Etfw">@California_ISO</a> grid last night. 1) Battery storage discharge went over 6GW for the first time AND 2) Batteries were the largest source of supply. <a href="https://t.co/Q7qOu4Fwl5">pic.twitter.com/Q7qOu4Fwl5</a>
&mdash; Joe Deely (@jdeely) <a href="https://twitter.com/jdeely/status/1780604819176386894?ref_src=twsrc%5Etfw">April 17, 2024</a></blockquote>
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This&nbsp;allowed battery storage to surpass gas, hydro, nuclear, and renewables as the primary&nbsp;source of power&nbsp;for a roughly two-hour period during the evening peak, according to the report.
Tesla&#8217;s official Megapack Twitter account shared the Renew Economy story, prompting Musk&#8217;s response: &#8220;Major milestone.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Major milestone <a href="https://t.co/qc3apufWUD">https://t.co/qc3apufWUD</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782573789923914166?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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See Also:<a target="_blank" href="https://www.benzinga.com/money/best-renewable-energy-stocks" rel="noreferrer noopener">&nbsp;Best Renewable Energy Stocks</a>
Deely followed up on Monday with a tweet indicating this scenario had repeated between 6:45 PM and 8:25 PM. &#8220;It looks like battery storage becoming the top supply source for early evening hours will be a common occurrence during shoulder months on the @California_ISO grid,&#8221; he stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It looks like having battery storage as the top supply source for a few early evening hours will become common for shoulder months on <a href="https://twitter.com/California_ISO?ref_src=twsrc%5Etfw">@California_ISO</a> grid going forward. Happened again last night from 6:45pm &#8211; 8:25pm.<a href="https://t.co/y6LkWAYXXr">https://t.co/y6LkWAYXXr</a> <a href="https://t.co/cm1I0Tul14">pic.twitter.com/cm1I0Tul14</a>
&mdash; Joe Deely (@jdeely) <a href="https://twitter.com/jdeely/status/1782464105301078488?ref_src=twsrc%5Etfw">April 22, 2024</a></blockquote>
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Why It Matters:&nbsp;California&#8217;s achievement shouldn&#8217;t be surprising, given its pioneering role in advancing green energy and transitioning to a more sustainable future. For Tesla, this news is particularly positive, especially&nbsp;during a time&nbsp;when its core electric vehicle business faces headwinds due to slowing EV adoption and economic uncertainty.
Analysts have&nbsp;begun to shift&nbsp;their focus beyond Tesla&#8217;s struggling EV segment, looking towards its ancillary businesses. In an early March report, RBC analyst&nbsp;Tom Narayan&nbsp;emphasized&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37413580/tesla-analyst-believes-megapack-is-a-120b-sleeping-giant-that-could-surpass-ev-busi" rel="noreferrer noopener">the potential of Tesla&#8217;s Megapack</a>&nbsp;utility-grade battery storage business. He stated, &#8220;Tesla&#8217;s Megapack business could be worth substantially more than its standalone car business,&#8221; estimating it could add $120 billion to Tesla&#8217;s valuation alone.
Piper Sandler&nbsp;analyst&nbsp;Alexander Potter&nbsp;shares a similar view. He believes Tesla&#8217;s energy business could generate ten times the revenue expected from Cybertrucks, adding that over half of Tesla&#8217;s net profit growth between 2023 and 2025 could come from stationary battery sales.
In premarket trading, Tesla&#8217;s stock rose 0.52% to $142.77, as per<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">&nbsp;Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/04/38332930/management-expert-warns-elon-musk-faces-ceo-overload-after-tesla-layoffs-reportedly-leave-him-ov"> Management Expert Warns Elon Musk Faces &#8216;CEO Overload&#8217; After Tesla Layoffs Reportedly Leave Him Overseeing 35 Key Personnel</a>
Photo via Shutterstock

Media

Golden State Goes Green: California's Battery Storage Outshines Gas, Renewables For First Time As Tesla CEO Musk Lauds 'Major Milestone'

JinkoSolar To Supply Italian Renewable Energy Solutions Company Nyox With 100MW Tiger Neo Modules

Piper Sandler analyst Brent Bracelin upgrades BlackLine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BL#NASDAQ">BL</a>) from Underweight to Neutral and raises the price target from $55 to $62.

Piper Sandler Upgrades BlackLine to Neutral, Raises Price Target to $62

Morgan Stanley analyst Jorge Kuri downgrades XP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) from Overweight to Equal-Weight and lowers the price target from $31 to $24.

Downgrades

Morgan Stanley Downgrades XP to Equal-Weight, Lowers Price Target to $24

Firefly Image 3 will bring massive advancements to quality and control to users. This includes higher-quality image generations, better understanding of prompts, new levels of detail and variety and significant improvements that enable fast creative expression and ideation.&nbsp;

ADBE

Adobe Introduces Firefly Image 3 Foundation Model

The European Union&#8217;s top diplomat in Asia, Niclas Kvarnstrom, has issued a stern warning to China, citing the country&#8217;s support for Russia and its significant trade surplus with the EU as major obstacles to improved relations.
What Happened: Kvarnstrom, the managing director for Asia at the European External Action Service, highlighted China&#8217;s ongoing support for Russia following its invasion of Ukraine as a significant issue in the strained relations between Brussels and Beijing, <a href="https://www.bloomberg.com/news/articles/2024-04-23/china-s-putin-ties-risk-relations-with-eu-top-diplomat-says">reported</a> Bloomberg.
&#8220;It's not something that we can ignore in any of our relationships,&#8221; Kvarnstrom stated. &#8220;As a geopolitical actor, we have to stand up for ourselves, and that's what we are doing on the economic imbalances and on our own security.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/04/38347217/biden-vs-trump-matchup-in-north-carolina-shows-slight-setback-for-one-candidate-can-his-relentless-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump Matchup In North Carolina Shows Slight Setback For One Candidate</a>
He also criticized China&#8217;s massive trade surplus with the EU, stating that if China is serious about fostering a balanced relationship, it must take action to address the issue.
These statements come amid rising concerns in the West over Russia&#8217;s military advances in Ukraine and China&#8217;s alleged role in aiding Russia to circumvent international sanctions.
Why It Matters: The EU&#8217;s stance on China&#8217;s support for Russia aligns with the United States&#8217; position. U.S. Secretary of State Antony Blinken is set to <a href="https://www.benzinga.com/news/24/04/38351809/antony-blinken-to-warn-china-over-support-for-russias-military-during-upcoming-visit">address this issue</a> during his upcoming visit to China. 
Earlier in April, U.S. Treasury Secretary Janet Yellen also <a href="https://www.benzinga.com/news/24/04/38138081/janet-yellen-threatens-beijing-with-us-sanctions-standing-in-mainland-china-if-they-assist-russia-in">warned Chinese banks and exporters</a> about the potential consequences of supporting Russia&#8217;s military capacity.
Meanwhile, Russia has <a href="https://www.benzinga.com/news/24/04/38352439/russian-minister-warns-westerners-are-teetering-dangerously-towards-potential-nuclear-war-as-nato-us">issued a stark warning</a> about the potential for a direct confrontation between the world's leading nuclear powers, as tensions continue to escalate.
Read Next: <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us: &#8216;With 6000 Satellites Orbiting Earth, I Think I Would Know&#8217;</a>
Photo by Alexandre Lallemand on Unsplash
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 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 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/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Politics

EU's Top Diplomat In Asia Warns China Over Russia Ties, Trade Imbalance: 'We Have To Stand Up For Ourselves'

Ross Gerber, a prominent investor in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has voiced concerns about the company&#8217;s future. He predicts a challenging earnings report and questions the company&#8217;s growth strategy.
What Happened: Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, shared his concerns about Tesla&#8217;s future on the social media platform X.
He suggested that Tesla&#8217;s upcoming earnings report may not meet expectations and raised doubts about the company&#8217;s ability to sell more cars with its current strategy.
&#8220;Tesla earnings will be bad but don&#8217;t worry that won&#8217;t be the issue&#8230; the guidance&#8230; We might get a little relief rally after earnings if they are not totally atrocious. But unfortunately, Tesla will be unable to sell more cars than the past with the current strategy,&#8221; Gerber wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla earnings will be bad but don&#39;t worry that wont be the issue&#8230; the guidance&#8230; We might get a little relief rally after earnings if they are not totally atrocious. But unfortunately tesla will be unable to sell more cars than the past with the current strategy. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1782538429525573740?ref_src=twsrc%5Etfw">April 22, 2024</a></blockquote>
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Gerber expressed his views on Tesla&#8217;s valuation, emphasizing the importance of considering the growth rate over the price-to-earnings ratio. He noted Tesla&#8217;s stagnant growth and uncertainty regarding its future growth prospects. &#8220;Now Tesla isn&#8217;t growing and not sure how it will get back to growing,&#8221; he wrote.
Gerber speculated that if Tesla achieves an earnings per share of $2.50 in 2024, the outlook for 2025 remains unclear. As a result, he suggested that $100 might be the next target price.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What is Tesla worth? You can assign whatever PE you wish. We tend to look at growth rate. Now Tesla isn&#39;t growing and not sure how it will get back to growing&#8230; If they do $2.50 in EPS in 2024, don&#39;t know what they will earn in 2025. So $100 is looking like the next stop&#8230;…
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1782545389041991889?ref_src=twsrc%5Etfw">April 22, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38347033/bound-by-courtroom-rules-donald-trump-is-doing-something-uncommon-for-his-public-persona-staying-sil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bound By Courtroom Rules, Donald Trump Is Doing Something Uncommon For His Public Persona: Staying Silent</a>
Gerber also condemned Tesla&#8217;s management for overlooking evident measures that could have prevented the current circumstances. He expressed skepticism about CEO Elon Musk&#8216;s ability to address the situation during the upcoming conference call.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Of course all of this was avoidable and typically one should blame the CEO/management team. Since the management team has been fired&#8230; We shall see how this will be handled by the CEO tomorrow during the conference call. Cant imagine this going smoothly&#8230; <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1782545967855837191?ref_src=twsrc%5Etfw">April 22, 2024</a></blockquote>
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According to Fintel, as of Feb. 13, Ross Gerber&#8217;s investment firm, Gerber Kawasaki Wealth &amp; Investment Management, <a href="https://fintel.io/so/us/tsla/gerber-kawasaki-wealth-investment-management">reported</a> owning 377,918 shares of Tesla. This signifies a 5.09% decrease from their previous ownership.
Why It Matters: Gerber&#8217;s comments come on the eve of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa">Tesla&#8217;s Q1 earnings report</a>, which is highly anticipated by investors and analysts alike. The company&#8217;s Q1 performance has been a topic of debate, with some analysts questioning whether Tesla is still a growth stock.
Gerber&#8217;s remarks also follow a series of events that have put Tesla and its CEO, Elon Musk, under scrutiny. Earlier this month, Gerber <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38062930/ross-gerber-blames-elon-musks-toxic-behavior-for-ev-makers-crappy-q1-sales-calls-fo">blamed Musk&#8217;s behavior</a> for Tesla&#8217;s disappointing Q1 sales. More recently, he warned that the <a href="https://www.benzinga.com/markets/equities/24/04/38306906/tesla-boards-credibility-at-stake-with-56b-elon-musk-pay-package-vote-says-ross-gerber-super-gra">credibility of Tesla&#8217;s board</a> was at stake with the vote on Musk&#8217;s $56 billion pay package.
Despite these challenges, some investors remain optimistic about Tesla&#8217;s future. Cathie Wood&#8216;s Ark Invest, for example, <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">acquired over $17 million</a> in Tesla shares ahead of the Q1 results, signaling confidence in the company&#8217;s long-term prospects.
Price Action: Based on data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>, Tesla is currently trading at $142.05, reflecting a 3.40% decrease from Monday&#8217;s close. Additionally, in after-hours trading, the stock experienced a further decline of 0.42%. Overall, the stock is down by 42.82% year-to-date.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Slashes Model S, X And Y Prices In US By $2,000 In Late-Friday Move As Volume Growth Turns Negative</a>
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Management

'Tesla Isn't Growing:' Investor Ross Gerber Predicts Bad Q1 Earnings And Pokes Holes In Growth Strategy

Elon Musk, CEO of Tesla Inc., commented on singer Katy Perry&#8216;s post after she took delivery of her Cybertruck.
What Happened: Perry, a well-known singer, songwriter, and TV personality, shared a photo of her new Cybertruck on social media platform X, expressing her gratitude for the delivery. Musk responded with a simple &#8220;Looks good&#8221; comment on her post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Looks good
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782625473656148076?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Perry, who has a massive social media following of over 400 million, is the sixth most-followed X account globally.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38346490/teslas-horror-week-ends-with-another-price-cut-rivians-second-round-of-layoffs-lucid-touts-longe?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Horror Week Ends With Another Price Cut, Rivian&#8217;s Second Round Of Layoffs, Lucid Touts Longest-Range Domestic EV And More: Biggest EV Stories Of The Week</a>
Why It Matters: Perry is the latest in a string of high-profile individuals to purchase a Tesla Cybertruck. Earlier this year, Kim Kardashian also <a href="https://www.benzinga.com/general/entertainment/24/02/37228943/kim-kardashian-flaunts-new-tesla-cybertruck-on-instagram-adding-to-her-fleet-of-luxury-vehi">showcased her Cybertruck</a> on Instagram, adding to her collection of luxury vehicles. This trend of celebrities purchasing Cybertrucks without any discounts or paid promotions from Tesla has been <a href="https://www.benzinga.com/general/entertainment/24/02/37412516/they-clearly-have-great-taste-tesla-ceo-elon-musk-thrilled-by-growing-list-of-celebs-buying">praised by Musk</a> himself.
Despite the growing popularity of the Cybertruck, Tesla has faced some competition in the electric pickup truck market. Chinese EV giant BYD Co. recently announced its upcoming electric pickup truck, the <a href="https://www.benzinga.com/news/24/04/38352429/warren-buffett-backed-byd-names-cybertruck-challenger-shark-with-plug-in-hybrid-system-for-extra-bit">BYD Shark</a>, which will feature a plug-in hybrid system. This marks BYD&#8217;s first foray into electric pickup trucks and comes just months after Tesla began delivering its own electric pickup, the Cybertruck.
Despite some initial hiccups, Tesla <a href="https://www.benzinga.com/news/24/04/38308138/just-being-very-cautious-says-elon-musk-as-tesla-reportedly-resumes-cybertruck-deliveries-after-brie">resumed Cybertruck deliveries</a> after a brief pause, with Musk assuring that the company was &#8220;just being very cautious.&#8221;
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Image Via Shutterstock 
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Entertainment

Social Media

Elon Musk Reacts To Katy Perry's Picture With Tesla Cybertruck: 'Looks Good'

In a recent turn of events, shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) have taken a nosedive, while six S&amp;P 500 stocks have seen a surge.
What Happened: When Tesla&#8217;s shares dip, six S&amp;P 500 stocks tend to rise, CNBC Pro <a href="https://www.cnbc.com/2024/04/23/when-tesla-shares-fall-these-6-stocks-tend-to-rise-according-to-recent-history.html">reported</a> on Monday. These include Linde (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>), FMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Church &amp; Dwight (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHD#NYSE">CHD</a>), Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>). Over the past month, these stocks have shown an inverse correlation to Tesla&#8217;s performance. While Tesla&#8217;s shares have seen a 40% drop this year, these six stocks have generally risen.
Deutsche Bank analyst Emmanuel Rosner predicts that Tesla&#8217;s rough patch may persist as the company might shift its focus from a new low-cost vehicle to self-driving technology. Rosner recently slashed his price target on Tesla&#8217;s stock from $189 to $123, indicating a potential downside of around 15% over the next year.
See Also: <a href="https://www.benzinga.com/news/24/04/38346954/trump-in-hot-seat-in-hush-money-case-prosecutors-seek-deep-dive-into-ex-presidents-alleged-misconduc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump In Hot Seat In Hush-Money Case, Prosecutors Seek Deep Dive Into Ex-President&#8217;s Alleged Misconduct And Manipulation</a>
However, it is crucial to understand that the inverse movement of these stocks to Tesla&#8217;s does not imply causation or guarantee future returns or price action patterns. Church &amp; Dwight is the only stock that showed an inverse correlation to Tesla both in March and last week.
Why It Matters: This shift in stock performance comes in the wake of Tesla&#8217;s recent decisions. The company recently laid off its U.S. marketing team, with CEO Elon Musk <a href="https://www.benzinga.com/news/24/04/38370123/elon-musk-admits-tesla-ads-were-far-too-generic-after-laying-off-us-marketing-team-couldve-been-any">stating that the team&#8217;s ads </a>were &#8220;far too generic.&#8221; This move was part of a 10% company-wide layoff.
Additionally, Tesla has significantly reduced the price of its full self-driving (FSD) driver assistance software. Less than a year ago, <a href="https://www.benzinga.com/news/24/04/38351810/tesla-fsd-is-now-nearly-50-cheaper-than-when-elon-musk-called-it-very-low-just-under-a-year-ago">Musk considered $15,000 a low price for FSD</a>. However, the price has since been cut by about 50%. This price reduction could be a factor in the company&#8217;s shifting focus towards self-driving technology.
Read Next: <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Liz Cheney Says Trump &#8216;Doing Everything Possible&#8217; To Postpone Jan. 6 Case Beyond Election: &#8216;Deep Flaws In Character&#8230;Make Him Unfit To Serve As President&#8217;</a>
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EBAY

When Tesla Dips, These Six S&P 500 Stocks Including eBay, Walmart And Wells Fargo Often Soar: Analysis

Macro Economic Events

Econ #s

Economics

S&P Global/CIPS U.K. Services Purchasing Managers Index Preliminary 54.9 Vs. 53.0 Est.; 53.1 Prior

S&P Global/CIPS U.K. Manufacturing Purchasing Managers Index Preliminary 48.7 Vs. 50.3 Est.; 50.3 Prior

S&P Global/CIPS U.K. Composite Purchasing Managers' Index Preliminary 54.0 Vs. 52.8 Prior

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has been moving sideways ever since the<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38345043/bitcoin-shrugs-off-fourth-halving-miner-rewards-halved-price-holds-strong"> halving event that took place late Friday,</a> and Cathie Wood&#8217;s Ark Invest on Monday weighed in on the potential impact of the event.
What Happened: The growth in Bitcoin supply fell from 1.8% to 0.9% at an annual rate, said Yassine Elmandjra, Director of Digital Assets, at Ark. The crypto&#8217;s supply growth, therefore fell below the supply of gold, which is estimated to be 1.7% in 2023, he said.
Explaining the process of halving, the analyst noted that due to Bitcoin&#8217;s &#8220;mathematically metered supply growth,&#8221; the reward for mining a block halves every 210,000 blocks, and this takes place roughly every four years. The first halving that occurred in November 2012, reduced the reward from 50 to 25 bitcoins per block and Friday's halving reduced the block reward from 6.25 to 3.125 bitcoins per block, he added.
&#8220;The halving is critical to Bitcoin's design, highlighting its predictable monetary policy and Bitcoin's role as a scarce asset,&#8221; the analyst said.
&#8220;By reducing miner rewards by 50% every four years, Bitcoin lowers the supply growth &#8230; on a predetermined schedule, guaranteeing that the total number of bitcoins outstanding will never exceed 21 million, its predetermined cap.&#8221;
See Also: <a href="https://www.benzinga.com/money/top-10-cryptocurrencies">10 Best Cryptocurrencies</a>
On the contrary, sovereign or government-backed currencies&#8217; supply growth can be adjusted at will by central bank policymakers, Elmandjra said.
Bitcoin&#8217;s circulation currently stood at about 19.7 million, which is only 6.5% below the 21 million at which it is capped, he said.
The analyst also flagged the possibility of an imminent rally. &#8220;Since its inception 15 years ago, Bitcoin's halving has taken place in the context of extended bull market runs,&#8221; he said. In the 12 months following the three previous halvings, Bitcoin&#8217;s price appreciation has ranged from about 285% to about 8,478.2%, with an average gain of around 3,108%, he said.
Why It&#8217;s Important: Bitcoin rallied hard in the run-up to the halving event but has seen lackluster sentiment since then. The crypto peaked at $73,750.07 on March 14, with the optimism that lingered after the launch of the spot Bitcoin ETFs contributing to the strength.
After coming off the level and breaking below the $70,000 barrier, the crypto resumed its uptrend ahead of the halving. Come April along with the risky bets, Bitcoin came under pressure due to fears that the Federal Reserve may not cut rates this year amid stubbornly high inflation.
The Fed may have to reverse its rate hikes some time down the line, which could reignite a rally in all risky bets. 
While Ark&#8217;s comparison with gold supply suggests Bitcoin is becoming less inflationary than the yellow metal, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/38015516/is-bitcoin-digital-gold-peter-schiff-says-perhaps-it-never-will-make-a-new-high-pri">Peter Schiff has always shunned branding it as</a> a form of digital gold. 
At last check, Bitcoin was little changed at $66,145.63, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38369340/bitcoin-to-more-than-double-in-value-to-150k-by-year-end-says-standard-chartered-analyst-w">Bitcoin To More Than Double In Value To $150K By Year-End, Says Standard Chartered Analyst: &#8216;We Can Push Higher Again&#8217;</a>

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

Cryptocurrency

$BTC

Cathie Wood'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

President Joe Biden held a meeting with U.S. Rep. Alexandria Ocasio-Cortez (D &#8211; N.Y.) and other liberal lawmakers on Monday, as internal disagreements within the Democratic party over his support for Israel&#8217;s response to the Hamas attack continue to escalate.
What Happened: On Tuesday, President Biden had a meeting with Ocasio-Cortez, Sens. Bernie Sanders (I-V.T.) and Ed Markey (D &#8211; Mass.) all of whom have openly criticized Israeli Prime Minister Benjamin Netanyahu&#8217;s Gaza bombing campaign, Reuters reported. The meeting took place after Biden&#8217;s return from an Earth Day event in Virginia.
These lawmakers have previously voiced their opposition to Israel&#8217;s policies, with Ocasio-Cortez likening the humanitarian situation in Gaza to &#8220;an unfolding genocide.&#8221; Despite these disagreements, Ocasio-Cortez has supported Biden&#8217;s reelection, emphasizing the need to safeguard democracy both at home and abroad.
See Also: <a href="https://www.benzinga.com/news/24/04/38348258/marjorie-taylor-greene-takes-step-back-in-effort-to-remove-speaker-mike-johnson-but-blasts-him-as-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Takes Step Back In Effort To Remove Speaker Mike Johnson But Blasts Him As &#8216;A Lame Duck&#8217;</a>
Why It Matters: This meeting occurs as Biden&#8217;s endorsement of <a href="https://www.benzinga.com/news/24/04/38350131/biden-reaffirms-ironclad-support-for-israel-amid-passover-hamas-conflict">Israel&#8217;s response to the Oct. 7 Hamas attack</a> has created divisions within the Democratic party, potentially influencing Biden&#8217;s voter base ahead of the November presidential election. The White House and the lawmakers have not disclosed the topics discussed during the meeting.
Biden&#8217;s administration has maintained its backing for Israel, while increasingly highlighting the Palestinian humanitarian crisis. This follows Israel&#8217;s military offensive in response to the Hamas attack, which, as reported by Gaza&#8217;s health ministry, has led to the death of 34,000 Palestinians.
The meeting also comes in the wake of the <a href="https://www.benzinga.com/news/24/04/38353867/israeli-military-intel-chief-resigns-over-hamas-attack-failures-i-have-carried-that-black-day-with-m">resignation of Major General Aharon Haliva</a>, the head of Israeli military intelligence, who took responsibility for the intelligence failures that led to a devastating Hamas-led attack on Israel in 2023.
Earlier in April, an <a href="https://www.benzinga.com/news/24/04/38196069/israeli-strike-in-gaza-strip-kills-three-sons-four-grandchildren-of-hamas-leader-report">Israeli airstrike in Gaza</a> reportedly claimed the lives of three sons of Hamas leader Ismail Haniyeh, further escalating the conflict.
Read Next: <a href="https://www.benzinga.com/news/24/04/38348277/trump-vs-biden-nationwide-poll-shows-key-issue-decidedly-tilts-equation-in-favor-of-one-candidate" target="_blank" rel="noreferrer noopener">Trump vs. Biden: Nationwide Poll Shows Key Issue Decidedly Tilts Equation In Favor Of One Candidate</a>
Image via Shutterstock
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Biden Holds Meeting With AOC, Bernie Sanders And Other Lawmakers Amid Israel Policy Disputes

Biotech

Large Cap

The European Commission Has Approved AstraZeneca's Voydeya (Danicopan) As An Add-on To Ravulizumab Or Eculizumab For Paroxysmal Nocturnal Hemoglobinuria Patients Who Have Residual Hemolytic Anemia

GoodRx Holdings: Large TAM Continues To Support Growth

Hims & Hers: 5 Reasons Why This Is A Phenomenal Long-Term Growth Stock

Goodrx Holdings Inc (GDRX) is up 6.99% today. GDRX has an Overall Score of 50. Find out what this means to you and get the rest of the rankings on GDRX!See Full GDRX ReportGDRX stock closed at $6.58 and is up $0.46 during pre-market trading. Pre-market tends to be more volatile due to significantly lower volume as most inv

Invivyd Inc (IVVD) Down 6.88% in Premarket Trading

Goodrx Holdings Inc (GDRX) has gained Monday morning, with the stock increasing 6.99% in pre-market trading to 7.04. GDRX's short-term technical score of 56 indicates that the stock has traded more bullishly over the last month than 56% of stocks on the market. In the Health Information Services industry, which ranks 134 o

Goodrx Holdings Inc (GDRX) has gained 6.99% Monday In Premarket Trading

Wells Fargo upgrades GoodRx, stock jumps 10%

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Biomea Fusion (BMEA – Research Report) and GoodRx Holdings (GDRX ...

Analysts Have Conflicting Sentiments on These Healthcare Companies: Biomea Fusion (BMEA) and GoodRx Holdings (GDRX)

A full quarter of 2024 is behind us now, and it's clear that we're in the midst of another bullish run, similar to last year. The gains are substan...

'Time to Hit Buy,' Says Wells Fargo About These 2 Stocks

GoodRx Holdings files to sell 99.98M shares for holders

R1 RCM, Health Catalyst downgraded as KeyBanc reviews health-tech space

There's a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on GoodRx Holdings (GDRX – Research Report) and Arcutis...

Analysts Are Bullish on These Healthcare Stocks: GoodRx Holdings (GDRX), Arcutis Biotherapeutics (ARQT)

ABNB

AMZN

ARQT

BMEA

CERT

HCAT

HIMS

LFMD

LFMDP

NFLX

NIOIF

NPCE

SDGR

TMVWF

TMVWY

Press Releases

GoodRx Appoints Kelly J. Kennedy to Board of Directors

GoodRx Announces Preliminary Fourth Quarter and Full Year 2023 Results and Early Expectations for First Quarter and Full Year 2024

The GoodRx Effect: Delivering a Transformative Impact on the U.S. Healthcare System through Prescription Savings

GoodRx Announces Proposed Refinancing of First Lien Credit Facilities

GoodRx Announces Date for Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

GoodRx to Participate in Upcoming Investor Conferences

GoodRx Reports Fourth Quarter and Full Year 2023 Results

GoodRx Interim CEO Extends Commitment to Company

GoodRx Announces Date for First Quarter 2024 Earnings Release and Conference Call

GDRX INVESTOR ALERT: Kessler Topaz Meltzer & Check, LLP Files A Securities Fraud Class Action Lawsuit Against GoodRX Holdings, Inc. And Encourages Investors With Losses To Contact The Firm