Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (BATS: GSEW)

Latest News for Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (BATS:GSEW)

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF

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Rydex ETF Trust Rydex S&P Equal Weight ETF

3 Equal-Weight ETFs Soaring To Record Heights

Upon closing, the Company expects that the transaction will add 65 basis points to the CET1 capital ratio, as converted for the preferred, resulting in a pro-forma CET1 capital ratio of&nbsp;10.8%&nbsp;as of&nbsp;March 31, 2024.&nbsp; It will also bolster our liquidity profile as the proceeds of the sale will be reinvested into cash and securities.&nbsp; On a pro-forma basis, the ratio of cash and securities to total assets is projected to improve to&nbsp;24%&nbsp;from&nbsp;20%&nbsp;at&nbsp;March 31, 2024.&nbsp; Similarly, the Bank&#39;s pro-forma loan-to-deposit ratio is expected to decline to&nbsp;104%&nbsp;compared to&nbsp;110%&nbsp;at the end of the&nbsp;first quarter&nbsp;of 2024.

NYCB

Reported Earlier, New York Community Bancorp Agrees To Sell $5B In Warehouse Loans To JPMorgan Chase Bank, Aiming For Improved Loan-To-Deposit Ratio

The meme stock frenzy&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/options/24/05/38825760/gamestop-option-traders-active-before-roaring-kittys-tweets-might-have-made-millions" rel="noreferrer noopener">reignited on Wall Street this week</a>, fueled by the return of &#8220;Roaring Kitty,&#8221; a key player in the 2021 surge. This resurgence sparked a discussion on the psychology driving these volatile investments, with economist and former hedge fund manager&nbsp;Raoul Pal&nbsp;offering his insights.
What Happened:&nbsp;A social media user&nbsp;took aim at&nbsp;traditional finance theories suggesting low interest rates caused the meme stock phenomenon surrounding&nbsp;GameStop Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).&nbsp;
&#8220;One of the funniest things is&nbsp;tradfi&nbsp;assigning the GME/meme phenomena to low interest rates.&nbsp;Well&nbsp;guess what&#8230;interest rates are at multi-decade highs and they running it back again lmao,&#8221; the user said.
Pal agreed with this argument. &#8220;Yeah,&nbsp;its&nbsp;nothing to do with interest rates but the need for speculation to get ahead&nbsp;because&nbsp;of interest rates, debasement, jobs, etc,&#8221; he said. &#8220;The clock is ticking on the 25 to&nbsp;40 year olds&#8230;&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yeah, its nothing to do with interest rates but the need for speculation to get ahead because of interest rates, debasement, jobs, etc. The clock is ticking on the 25 to 40 year olds&#8230;
&mdash; Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1790371455118569765?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-inflation-stocks" rel="noreferrer noopener">Best Inflation Stocks</a>
Why It Matters:&nbsp;The Fed funds rate, a key benchmark impacting borrowing costs, currently sits at a 22-year high of 5.25%-5.50%.
Pal&#8217;s point resonates with the current economic climate. The post-pandemic period has brought significant uncertainty, with inflation rising and the Fed raising rates to combat it.&nbsp;
Companies struggling to grow revenue have resorted to layoffs, impacting personal finances.
Millennials, the first generation raised on the internet,&nbsp;<a target="_blank" href="https://www.benzinga.com/personal-finance/24/03/37869282/i-am-not-prepared-for-life-millennials-blame-their-boomer-parents-for-not-teaching-them-how-to-b" rel="noreferrer noopener">are particularly affected</a>&nbsp;by these financial anxieties. A 2023 Northwestern Mutual study revealed that 54% of respondents belonging to this category experience depression due to financial uncertainty, compared to 34% of the general population.
New Meme Wave:&nbsp;Amidst this backdrop, meme stocks like GameStop and&nbsp;AMC Entertainment Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) have experienced a dramatic rise. So far this week, GameStop has gained 179% and AMC 135%, with trading halts interrupting the rallies.&nbsp;
Before Monday, GameStop was down slightly for the year, while AMC was down a steeper 52%. The stocks closed Tuesday at $48.75 and $6.85, respectively, with whopping gains, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/register174" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38815078/jim-cramer-bets-cash-strapped-amc-gamestop-may-issue-shares-to-capitalize-on-new-me"> Jim Cramer Bets Cash-Strapped AMC, GameStop May Issue Shares To Capitalize On New Meme Stock Frenzy: &#8216;It Makes Too much Sense Not To&#8217;</a>

Analyst Color

Equities

Economics

Macro Guru Raoul Pal Says Fresh GameStop-Led Meme Stock Frenzy Has Nothing To Do With Interest Rates: 'Clock Is Ticking On The 25-40-Year-Olds'

- Median Overall Survival of 5.49 months observed in patients with a TP53 mutation receiving an&nbsp;Iomab-B led allogeneic bone marrow transplant compared to 1.66 months in patients that did not receive Iomab-B (hazard ratio=0.23, p=0.0002) in the Phase 3 SIERRA Trial
- Long-term efficacy results in older patients with active relapsed or refractory acute myeloid leukemia also observed in the SIERRA trial

ATNM

Reported Earlier, Actinium To Present Improved Survival Outcomes In TP53 Positive Patients At The EHA 2024 and Long-Term Efficacy Results In Older Patients Receiving An Iomab-B Led Bone Marrow Transplant In The Phase 3 SIERRA Trial

The de-SPAC is expected to close on or around December 31, 2024. At the consummation of the de-SPAC, HUDA&#39;s shareholders will become minority and non-controlling shareholders in the combined entity.
This business combination marks a significant milestone in establishing a robust and enduring presence in Europe. The integration with HUDA will equip Aiways Europe with efficient access to growth capital, close alignment with European design concepts, and the strong commitment of a revered management team of industry leaders.

HUDA

Reported Earlier, Hudson Acquisition I And Aiways Europe Enter Agreement For Business Combination Valued At $400M

Macro Economic Events

Econ #s

France Harmonised Index of Consumer Prices (MoM) For April 0.6% Vs. 0.6% Est.; 0.2% Prior

France Consumer Price Index (MoM) For April 0.5% Vs. 0.5% Est.; 0.2% Prior

LEQEMBI is now approved in the U.S., Japan and China, and applications have been submitted for review in the European Union, Australia, Brazil, Canada, Hong Kong, Great Britain, India, Israel, Russia, Saudi Arabia, South Korea, Taiwan, Singapore and Switzerland. Eisai submitted to the FDA a Supplemental Biologics License Application (sBLA) for monthly LEQEMBI intravenous (IV) maintenance dosing in March 2024.
Eisai serves as the lead for lecanemab&#39;s development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.

BIIB

ESAIY

Reported Earlier, Biogen And Eisai Initiated Rolling Biologics License Application With US FDA For Subcutaneous LEQEMBI (lecanemab-irmb) To Treat Early Alzheimer's Disease Under Fast Track Status

In a significant development, Chinese chipmakers are making headway in producing high bandwidth memory (HBM) semiconductors, a crucial component in artificial intelligence (AI) chipsets. This progress marks a key step in China&#8217;s efforts to diminish its dependence on foreign suppliers amid ongoing tensions with the U.S.
What Happened: China&#8217;s leading DRAM chip manufacturer, CXMT, has successfully developed sample HBM chips in collaboration with chip packaging and testing company Tongfu Microelectronics, Reuters reported on Wednesday. These chips are currently being showcased to clients. 
Another Chinese firm, Wuhan Xinxin, is constructing a factory capable of producing 3,000 12-inch HBM wafers per month. This initiative, which commenced in February, is a clear indication of China&#8217;s commitment to advancing its chip sector.
Both CXMT and Wuhan Xinxin are private companies that have received local government funding to drive technological advancements in China&#8217;s chip sector.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38814718/happy-40-zuckerberg-if-you-invested-1000-in-meta-platforms-stock-when-mark-zuckerberg-turned-30-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Happy 40, Zuckerberg! If You Invested $1000 In Meta Platforms Stock When Mark Zuckerberg Turned 30, Here&#8217;</a>
Why It Matters: The recent progress in China&#8217;s chip sector is a significant development in the global semiconductor industry, especially considering the country&#8217;s <a href="https://www.benzinga.com/markets/asia/24/05/38800273/chinas-semiconductor-spending-tops-us-with-142b-commitment-global-chip-race-heats-up">topped the U.S. in semiconductor spending</a>. This is part of the broader trend of China&#8217;s increasing efforts to <a href="https://www.benzinga.com/markets/equities/24/05/38809034/china-urges-tech-giants-to-shift-away-from-nvidia-and-other-foreign-chip-makers-boost-domestic-a">reduce its reliance on foreign-made chips</a>, particularly those from NVIDIA Corp.
Moreover, the recent progress in the chip sector follows another significant breakthrough. Chinese researchers have developed a cost-effective technique for <a href="https://www.benzinga.com/news/24/05/38789719/beating-us-sanctions-chinese-scientists-achieve-mass-production-of-optical-chips-at-low-cost">mass-producing optical chips</a>, which could potentially soften the impact of U.S. sanctions.
Read Next: <a href="https://www.benzinga.com/news/24/05/38779672/whats-new-in-consumer-tech-world-last-week-news-that-you-should-know-may-5-may-11-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s New In Consumer Tech World Last Week? News That You Should Know (May 5-May 11, 2024)</a>\
Picture by blickpixel on Pixabay and Karolina Grabowska on Pexels and Osman Bugra Nuvasil on Shutterstock
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Tech

General

Xi Jinping's China Forges Ahead With Better In-House AI Chips To Cut Reliance On Nvidia, Other Foreign Sources Amid US Curbs

Reported Earlier, Richtech Robotics Introduces Medbot To Revolutionize Medication Delivery In Healthcare Facilities

YouTuber and&nbsp;Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) enthusiast&nbsp;Dillon Loomis&nbsp;believes the EV giant needs&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38399275/no-choice-elon-musk-reacts-as-x-user-reveals-main-reason-why-the-billionaire-is-re-organizing-te" rel="noreferrer noopener">CEO&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38399275/no-choice-elon-musk-reacts-as-x-user-reveals-main-reason-why-the-billionaire-is-re-organizing-te" rel="noreferrer noopener">Elon Musk</a>&nbsp;to drive its market value and future vision of making the auto world fully electric.
What Happened:&nbsp;In a post on X on Tuesday, Loomis said he is &#8220;sick&#8221; of people commenting on how Musk is&nbsp;bad&nbsp;for Tesla and the company needs a more stable CEO. Loomis, for one, is convinced otherwise.&nbsp;
&#8220;Tesla would not be anywhere close to where it is today if it had some risk-averse leader calling the shots the past decade,&#8221; Loomis said, adding that those wanting more traditional CEOs should invest in ETFs or bond funds to avoid the risks involved with Tesla. 
It was not immediately clear if Loomis was a Tesla investor.
&#8220;$TSLA has always been a high beta, risk-on stock with the mission of transitioning the world&nbsp;to sustainable energy. Doing so requires a bit of &#8216;crazy&#8217;,&#8221; Loomis said. The YouTuber thinks that the criticism faced by the CEO is &#8220;out of control&#8221;&nbsp;and obstructs&nbsp;the &#8220;bigger picture&#8221; of Tesla potentially becoming a multi-trillion dollar company selling robotaxis and robots profitably.&nbsp;
&#8220;Tesla&#8217;s market cap ceiling with a vanilla, play-it-safe, don&#8217;t rock the boat CEO would be significantly&nbsp;lower than what it is with Elon steering the ship,&#8221; Loomis wrote. &#8220;Even if the direction at times in the short-term doesn&#8217;t make sense with the limited information we have.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sick of reading comments online about how Elon is bad for Tesla and the company needs a more stable or traditional CEO No, it actually doesn&#39;t. If anything, you need to go invest in a different company Tesla would not be anywhere close to where it is today if it had some…
&mdash; Dillon Loomis (@DillonLoomis22) <a href="https://twitter.com/DillonLoomis22/status/1790448504889901322?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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Why It Matters:&nbsp;Many of Musk&#8217;s decisions for Tesla and&nbsp;his&nbsp;other companies have faced significant flak.&nbsp;Most recently, his decision to focus all of Tesla&#8217;s resources on vehicle autonomy and robotaxis has&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38130387/gene-munster-backs-teslas-focus-on-robotaxis-over-low-cost-ev-gary-black-skeptical-" rel="noreferrer noopener">left analysts and investors</a>&nbsp;divided.&nbsp;
Some investors have also disagreed with the company&#8217;s price-cutting strategy to retain demand instead of relying on advertising to boost sales. Price cuts, they say, have been eroding margins.&nbsp;
Late last year, Musk courted controversy for endorsing an antisemitic conspiracy theory, drawing swift responses&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/11/35854972/elon-musk-twitter-face-backlash-over-antisemitic-claims-i-once-admired-musk-for-his-anti-establishme" rel="noreferrer noopener">from advertisers</a>&nbsp;on X, Tesla investors, and Tesla drivers alike. While Musk later apologized for the post, it left&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/11/35862235/have-elon-musks-recent-antisemitic-posts-shaken-tesla-communitys-loyalty-heres-what-theyre-saying-ab" rel="noreferrer noopener">a few Tesla owners uncomfortable</a>&nbsp;and pushed them away from the brand.
Showdown For Musk:&nbsp;Tesla shareholders&nbsp;in&nbsp;a meeting on June 13, 2024, will again vote on&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38774504/tesla-analyst-sees-annual-shareholder-meeting-as-key-to-determining-elon-musk-led-c" rel="noreferrer noopener">Musk&#8217;s rescinded pay package</a>, which will play a&nbsp;key&nbsp;factor in determining the company&#8217;s long-term strategy.
Price Action: Tesla stock closed 3.3% higher on Tuesday at $177.55, giving the company a market cap of $566.24 billion. The stock is down 28.5% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</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 More: <a href="https://www.benzinga.com/news/24/05/38817313/tesla-ceo-elon-musk-says-making-new-roadster-only-as-fast-as-model-s-plaid-would-be-ridiculous">Tesla CEO Elon Musk Says Making New Roadster Only As Fast As Model S Plaid Would Be &#8216;Ridiculous&#8217;</a>
Photo via Shutterstock

TSLA

In Musk We Trust: Tesla Enthusiast Says EV Giant's Market Cap Would Be Way Lower With 'A Vanilla, Play-It-Safe, Don't Rock The Boat CEO'

Braemar Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHR#NYSE">BHR</a>) (&quot;Braemar&quot; or the &quot;Company&quot;) today&nbsp;announced that, based on estimated preliminary results, Blackwells Capital LLC&#39;s (&quot;Blackwells&quot;) withhold proxy campaign at Ashford Hospitality Trust, Inc. (&quot;Ashford Trust&quot;) proved to be a failure, as only&nbsp;7%&nbsp;of Ashford Trust&#39;s outstanding shares voted on the Blackwells proxy card.&nbsp; Ashford Trust announced earlier today that seven of its nine nominees received a majority of the votes cast and the remaining two nominees were re-appointed by the Board after the meeting in accordance with Ashford Trust&#39;s corporate governance guidelines.

Reported Earlier, Braemar Hotels & Resorts Confirms Blackwells Capital's Proxy Effort At Ashford Trust Unsuccessful

Mitsubishi Electric Corporation&nbsp;(Chiyoda-ku, Tokyo) and Musashi Energy Solutions Co., Ltd. (Hokuto City, Yamanashi Prefecture), a subsidiary of Musashi Seimitsu Industry Co., Ltd. (Toyohashi City, Aichi Prefecture), announced today their signing of a partnership and co-development agreement on May 14 for Innovative Energy Storage Devices to be incorporated into Innovative Energy Storage Modules, and Battery Management Systems (BMSs) that monitor and control battery usage for railway operators and rolling stock manufacturers.

MIELY

Reported Earlier, Mitsubishi Electric Collaborates With Musashi Energy Solutions To Advance Carbon Neutrality In The Global Railway Industry

Net proceeds from the offering are expected to be approximately&nbsp;$141.0 million&nbsp;after deducting underwriting discounts and commissions and before estimated offering expenses. VSE expects to use substantially all of the net proceeds from this offering to repay outstanding borrowings under its revolving loan facility, including borrowings to fund its acquisition of Turbine Controls, Inc., to support potential future strategic acquisitions and for general corporate purposes.

VSEC

Reported Earlier, VSE Prices Public Offering Of 2,112,676 Common Stock At $71/share

Sky Harbour Group (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SKYH#AMEX">SKYH</a>) reported quarterly losses of $(0.78) per share which missed the analyst consensus estimate of $(0.07) by 1014.29 percent. This is a 90.24 percent decrease over losses of $(0.41) per share from the same period last year. The company reported quarterly sales of $2.404 million which beat the analyst consensus estimate of $2.200 million by 9.27 percent. This is a 117.16 percent increase over sales of $1.107 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

SKYH

Sky Harbour Group Q1 2024 GAAP EPS $(0.78) Misses $(0.07) Estimate, Sales $2.404M Beat $2.200M Estimate

The development of this AI digital person is based on the company&#39;s long-term technical buildup in the gaming field and in-depth application of market-leading third-party AI technology, marking an important step for BHAT in the field of AI application services.

BHAT

Blue Hat Interactive Announces Artificial Intelligence Digital Person "Aileen" As Chief Information Officer

<ul>
<li>Two abstracts on SAR443579 (IPH6101), ANKET&reg;&nbsp;platform lead asset, a trifunctional anti-CD123 NKp46xCD16 NK cell engager under development by partner Sanofi in blood cancer</li>
<li>Two abstracts on IPH6501, Innate&#39;s second generation ANKET&reg;&nbsp;for the treatment of relapsed or refractory CD20-expressing B-cell Non-Hodgkin&#39;s Lymphomas</li>
</ul>

IPHA

Innate Pharma's Four Abstracts With Innate's Drug Candidates Accepted For The European Association Of Hematology 2024 Congress

The recent surge in meme stocks, including GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), and BlackBerry Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>), is not the result of retail traders acting in unison, according to a top industry executive.
What Happened: JJ Kinahan, CEO of IG North America, suggested that the current meme stock rally is not driven by retail traders, as was the case in the past. Kinahan shared his views during an interview on CNBC&#8217;s Last Call.
&#8220;Last time, in my opinion, this started out with retail traders all doing something at the same time. I do not get the feeling that&#8217;s what happened this time,&#8221; Kinahan said, referring to the current meme stock surge.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Last time, in my opinion, this started out with retail traders all doing something at the same time. I do not get the feeling that&#39;s what happened this time,&quot; says IG North America CEO <a href="https://twitter.com/TheJJKinahan?ref_src=twsrc%5Etfw">@TheJJKinahan</a> on who&#39;s behind the meme rally. <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GME</a> <a href="https://twitter.com/search?q=%24AMC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMC</a> <a href="https://twitter.com/search?q=%24BB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BB</a> <a href="https://t.co/Uuq2LHfnkE">pic.twitter.com/Uuq2LHfnkE</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1790522103424221304?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38787490/gamestop-shares-surge-as-roaring-kitty-resurfaces-after-3-year-silence?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GameStop Shares Surge As &#8216;Roaring Kitty&#8217; Resurfaces After 3-Year Silence</a>
While the exact catalyst for the recent meme stock rally <a href="https://www.benzinga.com/news/24/05/38824912/stock-market-interest-is-surging-are-meme-stocks-responsible">remains unclear</a>, the surge in these stocks has been remarkable. On Tuesday, GameStop&#8217;s shares soared by as much as 113%, while AMC experienced a 129% surge in early trading before pulling back.
Social media-fueled trading gained traction with the re-emergence of &#8220;Roaring Kitty,&#8221; also known as Keith Gill, a prominent retail trader from the 2021 meme stock era. Gill resumed posting on social media on Sunday, sparking renewed interest and activity in trading circles.
Why It Matters: The current meme stock rally has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38815078/jim-cramer-bets-cash-strapped-amc-gamestop-may-issue-shares-to-capitalize-on-new-me">a hot topic</a> in the financial world, with many analysts speculating on the driving forces behind it. Some, like Kinahan, believe that retail traders are not the primary force behind the surge, while others, such as Jim Cramer, have suggested that companies like GameStop and AMC may use the stock surge to raise capital through public offerings.
As the meme stock rally continues, analysts are also considering <a href="https://www.benzinga.com/markets/equities/24/05/38831590/5-ways-the-gamestop-meme-stocks-rally-could-fizzle-stock-offerings-boredom-and-more">potential factors that could fizzle the rally</a>, such as stock offerings and market boredom. However, for now, the surge in meme stocks is undeniably driving significant interest in the stock market.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K Level If It Reclaims This Crucial Support</a>
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Social Media

Global

Markets

Gamestop, AMC Meme Stock Rally Not Driven By Retail Traders This Time, IG North America CEO Says 'I Do Not Get The Feeling'

Former Secretary of State Hillary Clinton has accused ex-President Donald Trump of attempting to bribe fossil fuel CEOs to overturn President Joe Biden&#8216;s climate policies.
What Happened: Clinton, in a post on Tuesday, cited a Washington Post report that alleged Trump had promised fossil fuel CEOs a reversal of Biden&#8217;s climate policies in exchange for $1 billion. She described the bribe as &#8220;outrageous&#8221; and questioned why Trump had faced so little political backlash for his actions in the past.
Clinton wrote, &#8220;I&#8217;m still not over Trump promising fossil fuel CEOs that he&#8217;ll reverse Biden&#8217;s climate action in return for $1 billion. It&#8217;s a bribe so outrageous it nearly defies belief—which is why he&#8217;s paid so little political cost for these moves in the past. Can we change that dynamic?&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m still not over Trump promising fossil fuel CEOs that he&#39;ll reverse Biden&#39;s climate action in return for $1 billion. It&#39;s a bribe so outrageous it nearly defies belief—which is why he&#39;s paid so little political cost for these moves in the past. Can we change that dynamic? <a href="https://t.co/sz12CLtlhe">pic.twitter.com/sz12CLtlhe</a>
&mdash; Hillary Clinton (@HillaryClinton) <a href="https://twitter.com/HillaryClinton/status/1790406995251474898?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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At the dinner, Trump pledged to swiftly lift the Biden administration&#8217;s freeze on permits for new liquefied natural gas exports — a key demand of the executives present, according to the Washington Post <a href="https://www.washingtonpost.com/politics/2024/05/09/trump-oil-industry-campaign-money/">report</a> which cited three individuals at the event.
"You've been waiting on a permit for five years; you'll get it on Day 1," Trump told the executives. 
Trump&#8217;s press team did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/news/23/06/32982308/rfk-jr-berates-us-for-dodging-ukraine-war-negotiations-says-russia-acting-in-good-faith?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">RFK Jr Berates US For Dodging Ukraine War Negotiations, Says Russia &#8216;Acting In Good Faith&#8217;</a>
Why It Matters: This accusation from Clinton comes amid a series of controversies involving Trump and the oil industry. Trump reportedly <a href="https://www.benzinga.com/news/24/05/38751446/trump-reportedly-seeks-1b-in-campaign-funds-from-exxon-mobil-chevron-other-big-oil-execs-expert-call">sought $1 billion in campaign funds</a> from Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), and other major oil companies. This request, made during a meeting at his Palm Beach, Florida home, was met with shock but was deemed legal by industry experts.
Trump&#8217;s ties to the oil industry have been under scrutiny, with U.S. Senate Majority Leader Chuck Schumer (D-N.Y.) <a href="https://www.benzinga.com/government/24/05/38781945/chuck-schumer-says-trump-might-be-hosting-dinners-for-big-oil-execs-but-ftc-should-side-with-consume">calling for a reevaluation</a> of the proposed $53 billion merger between Chevron and Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>). Schumer warned that the merger could lead to higher gas prices, further fueling concerns about Trump&#8217;s relationship with the oil industry.
These allegations against Trump also coincide with <a href="https://www.benzinga.com/general/politics/24/05/38832464/michael-cohen-says-he-was-knee-deep-into-the-cult-of-donald-trump-when-he-admired-lied-for-forme">testimonies from Michael Cohen</a>, Trump&#8217;s former lawyer, in the hush money criminal trial against the ex-president. Cohen admitted to lying to protect Trump, shedding light on the ethical and legal controversies surrounding the former president.
Read Next: <a href="https://www.benzinga.com/news/23/09/34392283/donald-trump-tells-supporters-im-being-indicted-for-you-at-south-dakota-rally?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Tell Supporters &#8216;I&#8217;m Being Indicted For You&#8217; At South Dakota Rally</a>
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Politics

Hillary Clinton Slams Trump For Allegedly Bribing Fossil Fuel CEOs To Reverse Biden's Climate Action In Exchange For $1B: 'Outrageous'

In the wake of the dissolution of a United Nations body, Western nations are on the hunt for a new entity to oversee North Korea&#8217;s adherence to international sanctions after Russia vetoed a UN panel that overlooked Kim Jong Un&#8216;s country. 
What Happened: An eight-member panel, initially appointed by former UN secretary-general Ban Ki-moon in 2009, was disbanded after Russia vetoed its mandate extension in March, the Financial Times <a href="https://www.ft.com/content/2d02b36d-c7fe-4b29-92a7-144c1361e863">reported</a> on Wednesday. The panel&#8217;s mandate expired on Apr. 30, posing a significant obstacle to global efforts to limit North Korea&#8217;s access to foreign finance, energy, and technologies.
Maya Ungar, a UN analyst at the International Crisis Group, stated, "The sanctions remain in place on paper, but Russia's veto removes the UN Security Council's one impartial source of information on who is breaching the sanctions and how."
Eric Penton-Voak, a former British official who once served as co-ordinator of the panel, revealed that Russia was never supportive of the work of the panel.
"But with weapons being traded and Russian oil being imported into North Korea — all of it clearly visible from satellite imagery — the panel would have become an increasingly annoying presence, so Moscow dispensed with it,&#8221; he added.
The UN Security Council initially imposed sanctions on North Korea in October 2006, following the country&#8217;s first nuclear test. However, relations between Western nations and North Korea&#8217;s allies, Russia and China, have become increasingly strained in recent years. Both Moscow and Beijing have become increasingly critical of the sanctions.
See Also: <a href="https://www.benzinga.com/general/politics/24/05/38794046/michael-cohen-says-he-never-wanted-to-go-into-law-was-offered-375k-to-work-for-donald-trump-goin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Cohen Says He Never Wanted To Go Into Law, Was Offered $375K To Work For Donald Trump: &#8216;Going To</a>
One potential solution being considered is the creation of a new monitor under the UN General Assembly, which would not be subject to a Russian or Chinese veto. However, this proposal could face resistance from Beijing and bring up complex legal and budgetary issues.
Why It Matters: The U.S. ambassador to the United Nations, Linda Thomas-Greenfield, has <a href="https://www.benzinga.com/news/24/04/38267872/us-envoy-calls-on-russia-and-china-to-stop-rewarding-kim-jong-uns-bad-behavior-hiding-the-truth-does">previously criticized Russia and China </a>for shielding North Korea from sanctions. This came after Russia's veto and China's abstention from renewing a U.N. panel that monitors sanctions against North Korea's nuclear and missile programs.
"We must now consider how to continue access to this kind of objective, independent analysis in order to address [North Korea's] unlawful WMD and ballistic missile advancements," Thomas-Greenfield said.
Kim has been<a href="https://www.benzinga.com/news/24/05/38776689/kim-jong-un-intensifies-north-koreas-military-arsenal-tests-new-rocket-launch-system-report"> intensifying the country&#8217;s military arsenal</a> and testing a new multiple rocket launch system. This move underscores the urgency of maintaining an effective monitoring system for North Korea&#8217;s compliance with international sanctions.
Read Next: <a href="https://www.benzinga.com/news/24/05/38776647/elon-musk-berates-gavin-newsom-after-california-governor-discloses-plans-to-cut-10-000-vacant-state?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Berates Gavin Newsom After California Governor Discloses Plans To Cut 10,000 Vacant State Jobs</a>
Image via Shutterstock
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Western Nations Seek A New Eye To Watch Over Kim Jong Un's North Korea Despite Resistance From Russia, China

Shares of video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) have lifted exponentially this week, trumping the world&#8217;s largest cryptocurrency Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) yearly gains in a single day.&nbsp;
What Happened: GameStop shares rallied 190% since the week began, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>, pumped by <a href="https://www.benzinga.com/short-sellers/24/05/38822479/gamestops-david-vs-goliath-rematch-shorts-face-1-4b-loss-in-2024-as-roaring-kitty-returns">retail traders' excitement over the return of Keith Gill</a>, aka "Roaring Kitty", a central character in the previous rally of shares in January 2021. Bitcoin, on the other hand, has risen 125% over the past year, paling in comparison to the GameStop whirlwind. 
That said, on a larger timeframe, the King Crypto's trajectory evoked more optimism. Since the last meme stock mania in Jan. 2021, Bitcoin has gained 91%, even breaching its previous peak earlier this year. 
GameStop, on the other hand, entered a multi-year decline and was unable to break through its prior highs. It was still trading 38% lower than its peak. 
Why It Matters: GameStop&#8217;s trajectory displayed brief, sharp surges brought on by social media events, but Bitcoin exhibited consistency over the years, bolstering its use case as a store of value asset.
While the sustainability of GameStop's surge will be evident in the next few days, Bitcoin's growing mainstream penetration spurred by the launch of spot ETFs would mean a more stable ascent, away from wild fluctuations.
Price Action: At the time of writing, Bitcoin was exchanging hands at $61,908.40, following a 1.14% drop in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38815412/doge-is-the-first-crypto-gme-folks-are-likely-to-buy-touts-trader-that-turned-5-figures-in">DOGE Is The First Crypto GME Folks Are Likely To Buy,&#8217; Touts Trader That Turned 5 Figures Into 8 Figures With Meme Coins</a>

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

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Latest News for Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (BATS:GSEW)

Sunday, December 15, 2019