IDEAYA Biosciences Stock (NASDAQ:IDYA), Trade Ideas

IDEAYA Biosciences

IDEAYA Biosciences Inc is an oncology-focused precision medicine company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. It is engaged in applying capabilities across multiple classes of precision medicine, including direct targeting of oncogenic pathways and synthetic lethality. The company's product candidate IDE196 is a protein kinase C, or PKC, an inhibitor for genetically defined cancers having GNAQ or GNA11 gene mutations.

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Gainers


	Abri SPAC I, Inc.  (NASDAQ: ASPA) shares climbed 127.1% to $28.39. Abri&#39;s stockholders approved its proposed business combination with DLQ.


Why Owens Corning Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Ideaya Biosciences Inc (NASDAQ: IDYA) shares are trading lower by 11.6% to $24.10 Wednesday morning after the company priced an underwritten public offering of common stock and pre-funded warrants.

Why IDEAYA Biosciences Stock Is Falling During Wednesday&#39;s Session

Pre-Market Outlook

IBRX

U.S. stock futures traded mixed this morning on Wednesday. Here are some big stocks recording losses in today’s pre-market trading session.

Alphabet, Texas Instruments, CoStar Group And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

IDEAYA Biosciences Inc

Marsh &amp; McLennan Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mmc#NYSE">MMC</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/MMC/earnings">opening bell on April 18, 2024.</a>
Analysts expect the New York-based company to report quarterly earnings at $2.80 per share, up from $2.53 per share in the year-ago period. Marsh &amp; McLennan is projected to report quarterly revenue of $6.39 billion, compared to $5.92 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 13, Marsh McLennan declared a quarterly dividend of 71 cents per share on outstanding common stock, payable on May 15, 2024 to stockholders of record on April 4, 2024.
Marsh &amp; McLennan shares rose 0.7% to close at $197.62 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let&rsquo;s have a look at how Benzinga&rsquo;s most-accurate <a href="https://www.benzinga.com/quote/MMC/analyst-ratings"> analysts have rated the company </a> in the recent period.
<ul>
<li>Piper Sandler analyst Paul Newsome downgraded the stock from Overweight to Neutral with a price target of $211 on April 17, 2024. This analyst has an accuracy rate of 76%.</li>
<li>Wells Fargo analyst Elyse Greenspan downgraded the stock from Overweight to Equal-Weight with a price target of $212 on April 11, 2024. This analyst has an accuracy rate of 75%.</li>
<li>Evercore ISI Group analyst David Motemaden maintained an Outperform rating and raised the price target from $212 to $218 on April 11, 2024. This analyst has an accuracy rate of 67%.</li>
<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields maintained an Underperform rating and boosted the price target from $185 to $188 on April 10, 2024. This analyst has an accuracy rate of 71%.</li>
<li>JP Morgan analyst Jimmy Bhullar maintained a Neutral rating and increased the price target from $190 to $198 on April 8, 2024. This analyst has an accuracy rate of 61%.</li>
</ul>
&nbsp;
Read This Next: <a href="https://www.benzinga.com/news/24/04/38267894/alphabet-toll-brothers-and-2-other-stocks-insiders-are-selling"> Alphabet, Toll Brothers And 2 Other Stocks Insiders Are Selling </a>

Earnings

Marsh & McLennan Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Amid the ever-evolving landscape of the semiconductor industry, key Apple and Nvidia supplier, Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), has released its first-quarter financial results for 2024, showcasing substantial growth compared to the previous year.
What Happened: On Thursday, TSMC unveiled its financial achievements for the first quarter, highlighting a notable increase in year-over-year figures. The company&#8217;s consolidated revenue reached NT$592.64 billion ($18.87 billion) with net income hitting NT$225.49 billion ($6.97 billion).
The leading semiconductor manufacturer saw a 16.5% surge in revenue over the same period last year. Net income and diluted earnings per share (EPS) both experienced an 8.9% rise. Despite these gains, TSMC experienced a slight decline from the fourth quarter of 2023, with revenue and net income decreasing by 5.3% and 5.5%, respectively.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
The company reported a gross margin of 53.1%, an operating margin of 42.0%, and a net profit margin of 38.0%.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18022928/Screenshot-2024-04-18-at-11.33.00%E2%80%AFAM-1024x496.png" alt="" class="wp-image-297224" /><figcaption class="wp-element-caption">TSM earnings report (SOURCE: TSM)</figcaption></figure>
Advanced technologies, including 7-nanometer processes and more sophisticated ones, accounted for 65% of TSMC&#8217;s total wafer revenue. In detail, 3-nanometer technology comprised 9%, 5-nanometer contributed 37%, and 7-nanometer made up 19% of the wafer revenue.
Why It Matters: TSMC&#8217;s robust financial performance is a bellwether for the semiconductor sector, reflecting broader industry dynamics. The company&#8217;s pivotal role as a supplier to major tech corporations worldwide makes its growth in advanced technologies revenue particularly noteworthy. This trend highlights the escalating demand for high-performance chips, which are crucial in various sectors, including consumer electronics, automotive, and industrial applications. TSMC&#8217;s results are a key metric for investors and analysts to assess the industry&#8217;s future direction and any impending changes in the supply chain.
<a href="https://www.benzinga.com/news/24/04/38299207/whats-going-on-with-taiwan-semiconductor-stock">Speculation about TSMC&#8217;s performance was rife</a>, following a disappointing earnings report from rival ASML Holding N.V., which led to a dip in TSMC&#8217;s shares. Moreover, <a href="https://www.benzinga.com/insights/options/24/04/38276660/this-is-what-whales-are-betting-on-taiwan-semiconductor">options trading activity</a> indicated a bullish sentiment among financial giants towards TSMC, with a significant number of unusual trades being placed just before the earnings release.
According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, TSM closed at $139.03 on Wednesday, a decline of 0.55% since its previous close.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Court Case That Could Change The Cannabis Industry Forever And How It Affects Rescheduling</a>
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Earnings Beats

Equities

General

Strong AI Chip Demand Propels Key Apple, Nvidia Supplier Past Q1 Expectations

Nokia&#39;s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion to 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%. &nbsp;

Guidance

Nokia Reaffirms 2024 Outlook: Comparable Operating Profit Of €2.3B-€2.9B And Free Cash Flow Conversion From Comparable Operating Profit Of 30%-60%

Nokia Q1 Adj. EPS €0.09 Up From €0.06 YoY, Sales €4.667B Down From €5.859B YoY

Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has identified a resurgence of Russian online influence operations aimed at the upcoming U.S. presidential election. The tech giant noted that these activities have been ongoing for the past 45 days, albeit at a slower pace than in previous elections.
What Happened: Microsoft researchers have observed several Russian online campaigns targeting U.S. audiences, particularly focusing on criticizing American support for Ukraine in its conflict with Russia. The Russian embassy in Washington has yet to respond to these allegations, Reuters reported.
Microsoft&#8217;s researchers also noted a significant increase in hacking activities by a Russian group known as Star Blizzard, particularly targeting western think tanks. The company has expressed concerns about the potential impact of foreign rivals using artificial intelligence maliciously to influence the U.S. election.
&#8220;Ultimately, after the narrative has circulated online for a series of days or weeks, U.S. audiences repeat and repost this disinformation, likely unaware of its original source,&#8221; Microsoft said.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38234990/jeff-bezos-fianc-e-lauren-s-nchez-turns-heads-at-white-house-state-dinner-in-2-3k-dress-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">White House Protocol Breach? Jeff Bezos&#8217; Fiancée Lauren Sánchez&#8217;s $2,300 Gown At State Dinner Sparks Debate</a>
Why It Matters: The resurgence of Russian influence operations comes amid growing concerns about <a href="https://www.benzinga.com/government/24/02/37386346/amid-russia-risk-us-and-uk-engage-in-high-level-talks-to-address-security-concerns-during-simultaneo">potential security threats</a> during the U.S. presidential election. The U.S. and the U.K. have been engaging in high-level discussions to address these concerns, particularly regarding the possible exploitation of the transition of power by Russia or other adversaries.
Earlier this month, Microsoft warned the U.K. of an impending wave of state-sponsored cyberattacks and AI-generated disinformation targeting the <a href="https://www.benzinga.com/news/24/04/38136927/uk-warned-of-ai-misinformation-targeting-2024-polls-nation-state-hackers-raise-stakes">2024 elections</a>. The company predicted a significant increase in cyber threats, including AI deepfakes, due to advancements in artificial intelligence.
Microsoft&#8217;s recent findings add to the growing concerns about foreign interference in the U.S. election. The U.S. has also been <a href="https://www.benzinga.com/markets/asia/24/01/36849925/us-clamps-down-on-chinese-cyber-espionage-operation-volt-typhoon-report">intensifying its focus on cybersecurity</a>, particularly in response to potential disruptions to the upcoming elections and the chaos unleashed by ransomware attacks on the corporate sector.
Despite these concerns, Microsoft&#8217;s recent findings suggest that simple digital forgeries are more common than deepfakes and have a bigger impact. The company&#8217;s researchers have observed that &#8220;the simplest manipulations, not the most complex employment of AI, will likely be the pieces of content that have the most impact.&#8221;
Read Next: <a href="https://www.benzinga.com/news/24/04/38243808/bidens-job-approval-surge-nears-critical-level-for-sealing-2024-election-victory-but-this-key-concer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden&#8217;s Job Approval Surge Nears Critical Level For Sealing 2024 Election Victory But This Key Concern Threatens To Derail His Bid: New Poll</a>
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Politics

Global

Tech

Russian Online Influence Resurgence Poses Threat To US Election — Star Blizzard Hacking Activity Escalates, Warns Microsoft

EV maker&nbsp;Rivian Automotive&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) is reportedly cutting another 1% of its workforce, just days after larger rival&nbsp;Tesla&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" rel="noreferrer noopener">announced massive layoffs</a>.&nbsp;
What Happened: While Rivian&#8217;s previous cut in February impacted product teams and those working on the company&#8217;s commercial EVs, the latest round of workforce slashing will most likely impact its support and back-office workers, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-17/rivian-cuts-more-jobs-as-woes-mount-for-electric-vehicle-market" rel="noreferrer noopener">reported</a>, citing an emailed company statement.
"We continue to work to right-size the business and ensure alignment to our priorities. This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year," Rivian said, as per the report.
The EV startup had 16,790 workers as of Dec. 31, as per the report, which implies the latest round of cuts could amount to at least 150 jobs.
Rivian did not immediately respond to Benzinga&#8217;s request for comment.
Tesla CEO Elon Musk responded to the news on X, saying, &#8220;Inevitable.&#8221; It was unclear if Musk was referring to the ongoing EV demand slowdown or his previous <a href="https://www.benzinga.com/news/24/02/37253645/elon-musk-says-saudi-sugar-daddy-is-only-thing-keeping-lucid-alive-warns-of-possible-rivian-bankrupt" target="_blank" rel="noreferrer noopener">predictions of Rivian gearing up to bankruptcy</a> owing to their high costs.
Why It Matters: The February layoffs were part of the company&#8217;s cost-reduction efforts in light of high-interest rates and other economic and geopolitical uncertainties.&nbsp;
For&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38049501/whats-going-on-with-rivian-automotive-stock-today" rel="noreferrer noopener">the first quarter,</a>&nbsp;Rivian delivered 13,588 vehicles compared to the 7,946 cars delivered in the corresponding quarter of 2023 and produced 13,980 vehicles. For 2024, the company intends&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38089876/rivian-ceo-rj-scaringe-cheers-hitting-6-figure-production-mark-even-as-stock-languishes" rel="noreferrer noopener">to make 57,000 vehicles</a>, similar to 2023.
Despite the rise in sales, Rivian is yet to break even. The company continues to incur losses on every vehicle made and expects to reach profitability by the fourth quarter of 2024.
Price Action: Rivian shares closed up 0.34% at $8.74 on Wednesday but were down 0.34% in after-hours trading, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/register174" rel="noreferrer noopener">data from 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/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and">No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned &#8216;Complex And Inefficient&#8217;</a>
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Media

RIVN

After Tesla's Cost-Cutting, Rivian Trims Workforce Again This Year Amid Profitability Push

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported quarterly earnings of $1.38 per share which beat the analyst consensus estimate of $1.32 by 4.55 percent. The company reported quarterly sales of $18.873 billion which beat the analyst consensus estimate of $18.395 billion by 2.60 percent. This is a 12.88 percent increase over sales of $16.719 billion the same period last year.

Taiwan Semiconductor Q1 2024 GAAP EPS $1.38 Beats $1.32 Estimate, Sales $18.873B Beat $18.395B Estimate

<ul>
<li>Top-line data from ADX71149 Phase 2 epilepsy study expected by mid-May 2024</li>
<li>Launched Neurosterix with Perceptive Advisors, raising USD 63 million in Series A to accelerate development of preclinical portfolio</li>
<li>Received CHF 5 million upfront and 20% equity in Neurosterix, providing cash runway beyond 2026</li>
</ul>

ADXN

Addex Therapeutics FY23 EPS CHF (0.14) Up From CHF (0.46) YoY, Income CHF 1.65M Up From CHF 1.45M YoY

U.S. Senator Ron Johnson (R- Wis.) emphasized the critical need for Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) to succeed, following a whistleblower&#8217;s alarming revelations.
What Happened: During CNBC&#8217;s &#8220;Last Call&#8221; on Wednesday, Johnson expressed solidarity with the aerospace giant, underscoring the importance of safety in aviation.
"Everybody wants Boeing to succeed. We have to have Boeing succeed. We want safety in the skies," Johnson said.
He also stressed the importance of carefully presenting the information the whistleblower shares and not scaring the public. All the information needs to be fully vetted while Boeing needs to improve its &#8220;quality goals.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Everybody wants Boeing to succeed. We have to have <a href="https://twitter.com/hashtag/Boeing?src=hash&amp;ref_src=twsrc%5Etfw">#Boeing</a> succeed. We want safety in the skies," says <a href="https://twitter.com/RonJohnsonWI?ref_src=twsrc%5Etfw">@RonJohnsonWI</a> following bombshell testimony from the Boeing 787 whistleblower. <a href="https://twitter.com/search?q=%24BA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BA</a> <a href="https://t.co/FwM3YRtWQo">pic.twitter.com/FwM3YRtWQo</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1780742391227465989?ref_src=twsrc%5Etfw">April 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Fundamentally Unfair:&#8217; Tesla Board Chair Urges Shareholders To Vote Again On Elon Musk&#8217;s Voided Pay Pack</a>
Why It Matters: The commentary came in response to an interview where a Boeing engineer advocated for the <a href="https://www.benzinga.com/news/24/04/38284171/boeing-whistleblower-urges-grounding-of-all-787-dreamliners-worldwide-citing-premature-failure-con">grounding of all 787 Dreamliners</a>. This engineer, identified as Sam Salehpour, is poised to present his testimony before Congress.
Boeing&#8217;s challenges are not limited to safety concerns. As the company prepares to report its Q1 earnings in eight days, investors are keenly awaiting the appointment of a new CEO, as highlighted by an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38275997/boeing-investors-favor-clear-favorite-candidate-for-ceo-as-market-challenges-persis">analyst note</a> from RBC Capital Market. The aerospace company&#8217;s stock has fallen 32% year-to-date, adding to investor anxiety.
Despite the turbulence in its airplane segment, Boeing may find a silver lining in its space endeavors. A <a href="https://www.benzinga.com/general/space/24/04/38297698/boeing-heads-to-space-could-nasa-deal-starliner-help-fend-off-airplane-segment-weakness">potential Boeing deal with NASA and Starline</a>r project to offset the airplane segment&#8217;s weaknesses.
On Wednesday, Boeing&#8217;s stock closed at $170.21, a slight decrease of 0.21% from the previous close. The stock had a high of $170.85 and a low of $168.1215 during the day&#8217;s trading.
Read Next: <a href="https://www.benzinga.com/news/24/04/38246375/hyundai-blazes-past-tesla-ioniq-5-robotaxi-aces-simulated-driving-test-already?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hyundai Blazes Past Tesla: IONIQ 5 Robotaxi Aces Simulated Driving Test (Already!)</a>
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 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</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. 
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'Everybody Wants Boeing To Succeed:' GOP Senator Stresses 'Safety In The Skies' Post Whistleblower Testimony

In a significant move, Binance, the world&#8217;s leading cryptocurrency exchange, has made a strategic shift in the composition of its emergency fund, opting for the stability of a stablecoin amid a dynamic market landscape.
What Happened: Binance has transformed its user emergency fund entirely into USDC, a stablecoin pegged to the U.S. dollar, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-04-18/binance-converts-billion-dollar-safu-emergency-fund-into-usdc?cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_content=business&amp;utm_campaign=s">reported</a> on Thursday.
The Secure Asset Fund for Users (SAFU), established by Binance in 2018, serves as a financial safety net for users during extreme situations. 
Under the leadership of CEO Richard Teng, who succeeded Changpeng &#8220;CZ&#8221; Zhao following a significant legal settlement with U.S. agencies, Binance has seen a series of strategic changes. These include the spinning off of its venture capital arm and stricter token listing requirements.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38293168/macro-guru-raoul-pal-says-80-of-his-crypto-investment-is-in-this-ethereum-rival-and-i-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Macro Guru Raoul Pal Says 80% Of His Crypto Investment Is In This Ethereum Rival: &#8216;And I Have 1% In Stupid S&#x2A;&#x2A;t Like Dogwifhat, Dogecoin And Bonk&#8217;</a>
The SAFU fund, which typically hovers around the $1 billion mark, has seen fluctuations in line with market conditions. Binance&#8217;s shift to USDC is aimed at enhancing the fund&#8217;s stability and reliability, with the value now being trackable in real-time via blockchain.
Chris Holland, a partner at HM, a compliance consultancy based in Singapore, highlighted the importance of the move.
&#8220;100% USDC composition gives certainty to the value of the fund in U.S. dollar terms,&#8221; Holland said.
Why It Matters: The decision to convert the SAFU fund to USDC comes as Binance embarks on a path of regulatory compliance and operational maturity. CEO Teng emphasized Binance&#8217;s evolution <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38165135/binance-has-moved-past-its-old-ways-says-ceo-richard-teng">beyond its early operational style,</a> particularly after a $4.3 billion settlement with the U.S. Department of Justice (DOJ).
This transformation aligns with Binance&#8217;s broader efforts to stabilize its platform amid market volatility. An <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38305808/bitcoin-dropping-to-this-level-could-trigger-over-15b-in-liquidations-on-binance-wa">analyst&#8217;s warning suggested</a> that a drop in Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price to $50,500 could trigger over $15 billion in liquidations on Binance, underscoring the importance of a reliable safety net for users.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274582/shiba-inu-down-20-on-the-week-but-these-proven-milestones-could-lead-to-massive-bull-marke?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Down 20% On The Week, But: These &#8216;Proven Milestones&#8217; Could Lead To &#8216;Massive Bull Market,&#8217; Touts Trader</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Binance Shifts $1B Emergency Fund To Stablecoin USDC: A New Era Of Stability?

Ross Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, expressed his gratitude for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as an investment, just as shareholders are set to vote on CEO Elon Musk&#8217;s $56 billion pay package.
What Happened: Gerber, in an interview with CNBC&#8217;s Last Call, stated, &#8220;I&#8217;m super grateful for Tesla as an investment.&#8221; He added, &#8220;For me, it&#8217;s not whether he deserves it or not. It&#8217;s whether this board of directors can have any credibility.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"I'm super grateful for Tesla as an investment," says <a href="https://twitter.com/GerberKawasaki?ref_src=twsrc%5Etfw">@GerberKawasaki</a> as <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> shareholders prepare to vote whether to reinstate <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>'s $56B pay package. "For me, it's not whether he deserves it or not. It's whether this board of directors can have any credibility." <a href="https://t.co/47JxiCBG5u">pic.twitter.com/47JxiCBG5u</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1780737598920487111?ref_src=twsrc%5Etfw">April 17, 2024</a></blockquote>
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The shareholders are set to vote on the reinstatement of Musk&#8217;s $56 billion pay package. This comes after the board invalidated Musk&#8217;s previous $47 billion pay package, <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package">leading to a re-vote</a>. The new vote is set to take place on May 7.
On Feb. 13, Ross Gerber's investment firm, Gerber Kawasaki Wealth &amp; Investment Management, reported owning 377,918 shares of Tesla, which is a 5.09% decrease from their previous ownership, <a href="https://fintel.io/so/us/tsla/gerber-kawasaki-wealth-investment-management" target="_blank" rel="noreferrer noopener">according</a> to Fintel.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38243353/wow-elon-musk-reacts-to-reminder-of-how-tesla-bulls-optimistic-2021-rivian-predicti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Wow:&#8217; Elon Musk Stunned By Reminder Of How Tesla Bull&#8217;s Optimistic 2021 Rivian Prediction &#8216;Didn&#8217;t Age Well&#8217;</a>
Why It Matters: The shareholders&#8217; vote on Musk&#8217;s pay package is a significant event for Tesla, especially considering the recent <a href="https://www.benzinga.com/markets/equities/24/04/38284411/tesla-investor-ross-gerber-says-hes-skeptic-of-elon-musks-management-style-as-cybertruck-deliver">challenges the company has faced</a>. The outcome of this vote could have a substantial impact on the company&#8217;s future and Musk&#8217;s position within it.
Gerber&#8217;s statement comes in the wake of his recent criticism of Musk&#8217;s management style, particularly in light of the <a href="https://www.benzinga.com/markets/equities/24/04/38284411/tesla-investor-ross-gerber-says-hes-skeptic-of-elon-musks-management-style-as-cybertruck-deliver">Cybertruck delivery delays</a>. He has also been vocal about the impact of Musk&#8217;s behavior on <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">Tesla&#8217;s Q1 sales</a>. Despite these concerns, Gerber&#8217;s recent statement reflects his appreciation for the returns generated by Tesla as an investment.
Despite the recent criticisms, Gerber&#8217;s gratitude for Tesla&#8217;s returns highlights the company&#8217;s continued financial success, which could influence the shareholders&#8217; decision on Musk&#8217;s pay package.
Read Next: <a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned &#8216;Complex And Inefficient&#8217;</a>
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Management

TSLA

Tesla Board's Credibility At Stake With $56B Elon Musk Pay Package Vote, Says Ross Gerber: 'Super Grateful For Tesla As An Investment'

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Unemployment Rate For March 3.8% Vs. 3.9% Est.; 3.7% Prior

Reported Earlier, Australia Full Employment Change For March 27.9K Vs. 78.2K Prior

Reported Earlier, Australia Employment Change For March -6.6K Vs. 7.2K Est.; 117.6K (Revised) Prior

Editor's Note: This story has been updated to include the response from Google&#8217;s spokesperson regarding employee termination and Project Nimbus.
Following protests over its Israeli government cloud contract, Google&#8216;s parent company Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) has terminated 28 employees. This decision comes after nine workers were initially suspended and then arrested.
What Happened: The employees were fired after participating in sit-in protests at Google&#8217;s New York and California offices. The protests were against Google&#8217;s involvement in Project Nimbus, a $1.2 billion Israeli government cloud contract that also includes Amazon.com Inc, <a href="https://www.theverge.com/2024/4/17/24133700/google-fires-28-employees-protest-israel-cloud-contract">reported</a> The Verge citing an internal memo.
The terminated employees were involved in a protest at the office of Google Cloud CEO Thomas Kurian, which led to their forcible removal by law enforcement. This incident follows the firing of another employee for protesting the contract during a company presentation in Israel.
In a memo to all employees, Chris Rackow, Google&#8217;s head of global security, stated that such behavior has no place in the workplace and will not be tolerated. He also warned that the company would take further action if necessary.
"The overwhelming majority of our employees do the right thing. If you're one of the few who are tempted to think we're going to overlook conduct that violates our policies, think again. The company takes this extremely seriously, and we will continue to apply our longstanding policies to take action against disruptive behavior — up to and including termination," said Rackow. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38243353/wow-elon-musk-reacts-to-reminder-of-how-tesla-bulls-optimistic-2021-rivian-predicti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Wow:&#8217; Elon Musk Stunned By Reminder Of How Tesla Bull&#8217;s Optimistic 2021 Rivian Prediction &#8216;Didn&#8217;t Age Well&#8217;</a>
The &#8220;No Tech for Apartheid&#8221; group, which organized the protests, labeled Google&#8217;s firings as a &#8220;flagrant act of retaliation.&#8221; The group claimed that they have not received any response from Google executives despite organizing against Project Nimbus for three years.
"These protests were part of a longstanding campaign by a group of organizations and people who largely don't work at Google. A small number of employee protesters entered and disrupted a few of our locations. Physically impeding other employees&#8217; work and preventing them from accessing our facilities is a clear violation of our policies, and completely unacceptable behavior. After refusing multiple requests to leave the premises, law enforcement was engaged to remove them to ensure office safety. We have so far concluded individual investigations that resulted in the termination of employment for 28 employees, and will continue to investigate and take action as needed," said Google spokesperson, in an email response to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>.
&#8220;We have been very clear that the Nimbus contract is for workloads running on our commercial cloud by Israeli government ministries, who agree to comply with our <a href="https://cloud.google.com/terms" target="_blank" rel="noreferrer noopener">Terms of Service</a> and<a href="https://cloud.google.com/terms/aup" target="_blank" rel="noreferrer noopener"> Acceptable Use Policy</a>. This work is not directed at highly sensitive, classified, or military workloads relevant to weapons or intelligence services," the spokesperson added. 
Why It Matters: This incident follows a series of events related to Google&#8217;s Project Nimbus. A day before, several Google employees were <a href="https://www.benzinga.com/markets/equities/24/04/38299326/several-google-employees-arrested-in-protest-over-1-2b-israel-contract-report">arrested and placed on administrative leave</a> after staging sit-ins at the company&#8217;s offices in New York and California to protest the $1.2 billion cloud contract with Israel.
These protests have drawn attention from prominent figures, with venture capitalist Marc Andreessen and Tesla Inc CEO Elon Musk <a href="https://www.benzinga.com/news/24/04/38286752/elon-musk-reacts-as-marc-andreessen-says-google-is-literally-run-by-employee-mobs-with-chinese-spies">criticizing Google&#8217;s handling</a> of the situation. 
The ongoing conflict over the Israeli contract has also coincided with a period of heightened tensions between Israel and Iran, with a recent <a href="https://www.benzinga.com/news/24/04/38240360/what-a-full-blown-war-between-israel-and-iran-could-entail-according-to-one-report">escalation of missile and drone attacks</a> by Iran on Israel.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38234990/jeff-bezos-fianc-e-lauren-s-nchez-turns-heads-at-white-house-state-dinner-in-2-3k-dress-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">White House Protocol Breach? Jeff Bezos&#8217; Fiancée Lauren Sánchez&#8217;s $2,300 Gown At State Dinner Sparks Debate</a>
Photo by Arthur Osipyan on Unsplash
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AMZN

GOOG

Google Reportedly Fires 28 Staff Members Over Israel Cloud Contract Protests: 'Majority Of Our Employees Do The Right Thing'

Chris Vermeulen, Chief Investment Officer (CIO) of Technical Traders, suggests that this could result in a bear market and a challenging &#8220;reset&#8221; that might adversely affect returns for years to come.
What Happened: Vermeulen highlighted the recent surge in defensive assets such as precious metals, energy stocks, and industrial stocks, in an <a href="https://www.youtube.com/watch?v=eLVbEbIgcfg">interview</a> with Bloomberg on Tuesday. 
These sectors typically perform well in the late stages of a bull market, signaling an impending bear market or financial reset.
The CIO predicted that investors could face significant stock losses, with wealth potentially decreasing by 30%-50% over the next year. He also suggested that this reset could coincide with a recession, particularly indicated by industrial stocks, which have been hitting all-time highs.
&#8220;I think we&#8217;re coming into a major market top, more or less a financial reset,&#8221; Vermeulen said in the interview. &#8220;It&#8217;s short-term, temporarily painful. But we need markets to reset. We need regular pullbacks and corrections in order for the market to keep going up.&#8221; 
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Court Case That Could Change The Cannabis Industry Forever And How It Affects Rescheduling</a>
Vermeulen expressed concern that U.S. firms may not be aware that the end of an economic growth cycle is approaching, and the industrial sector could soon start to slow down. 
These warnings come amid ongoing concerns about a potential recession, with the New York Fed estimating a 58% chance of the economy tipping into a recession by March of next year.
Why It Matters: Despite Vermeulen&#8217;s warnings, some experts remain optimistic about the stock market&#8217;s future. For instance, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">Wall Street veterans</a> have dismissed recent concerns, citing a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers for the market&#8217;s continuation.
Similarly, the stock market&#8217;s long-term bull rally, now in its 11th year, is <a href="https://www.benzinga.com/markets/equities/24/03/37926504/stock-market-could-rally-another-34-by-2026-says-bank-of-america">predicted to continue</a>, with the S&amp;P 500 potentially surging by 34% by the end of 2026. 
However, some analysts, such as those at Ned Davis Research (NDR), have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37640416/stock-market-could-be-on-brink-of-a-correction-says-analyst-who-doesnt-expect-a-bea">cautioned that the current market conditions</a> could lead to a correction, making it vulnerable to potential corrections due to prolonged market enthusiasm.
Meanwhile, CNBC host Jim Cramer has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37640416/stock-market-could-be-on-brink-of-a-correction-says-analyst-who-doesnt-expect-a-bea">outlined potential factors</a> that could lead to a further market decline, advising investors to be cautious about their buying and selling decisions.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38293168/macro-guru-raoul-pal-says-80-of-his-crypto-investment-is-in-this-ethereum-rival-and-i-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Macro Guru Raoul Pal Says 80% Of His Crypto Investment Is In This Ethereum Rival: &#8216;And I Have 1% In Stupid S&#x2A;&#x2A;t Like Dogwifhat, Dogecoin And Bonk&#8217;</a>
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Stock Market 'Reset' Ahead, Warns Technical Traders: 'We're Coming Into A Major Market Top'

IncomeSharks, a crypto analyst, has predicted the future of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price. According to the forecast, the cryptocurrency could experience a significant drop below the $60,000 mark before potentially witnessing a &#8216;hate halving rally.&#8217;
What Happened: IncomeSharks took to X to share its forecast. The analyst suggested that Bitcoin might dip below the $60,000 level, which could prompt panic selling. The analyst believes that this would be a necessary step to clear out the remaining holders who are relying on the support to hold. 
&#8220;#Bitcoin &#8211; Still think we break and close below $60k to get another round of panic sellers gone. People probably still holding thinking support is holding. We need to break them first. Then we can get a hate halving rally,&#8221; the analyst said. 
<a href="https://twitter.com/IncomeSharks/status/1780750451140694412/photo/1"></a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> &#8211; Still think we break and close below $60k to get another round of panic sellers gone. People probably still holding thinking support is holding. We need to break them first. Then we can get a hate halving rally. <a href="https://t.co/LHrQhMJwgA">pic.twitter.com/LHrQhMJwgA</a>
&mdash; IncomeSharks (@IncomeSharks) <a href="https://twitter.com/IncomeSharks/status/1780750451140694412?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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IncomeSharks&#8217; prediction comes at a crucial time, just days before the upcoming <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299086/bitcoin-halving-in-3-days-what-to-expect-from-btc-this-week-and-in-2024">Bitcoin halving event</a>. This process, which occurs approximately every four years, is designed to introduce anti-deflationary features to Bitcoin. Historically, this event has led to a surge in the cryptocurrency&#8217;s price.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274831/elon-musk-teases-dogecoin-tweet-but-doge-fails-to-rally-from-20-weekly-correction?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Teases Dogecoin Tweet But DOGE Fails To Rally From 20% Weekly Correction</a>
Why It Matters: The upcoming Bitcoin halving event has been a topic of intense speculation. Many analysts and investors are closely watching to see how this event will impact the market. Some experts believe that the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38288999/exclusive-how-the-bitcoin-halving-could-transform-the-market">halving could transform the market</a> and lead to a significant price increase.
The analyst&#8217;s prediction aligns with the recent market volatility. Ali Martinez, another crypto analyst, highlighted the $62,000 level as a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284030/bitcoin-hinges-on-this-key-support-level-says-analyst-could-significantly-boost-the">critical support zone for Bitcoin</a>. Failure to maintain this level could shift focus to the next significant demand area, around $51,500. However, Martinez also pointed out a potential trigger for a bullish trend. If Bitcoin manages to climb back above $66,250, it could significantly boost the chances of a resurgence in the market.
Meanwhile, notable financial commentator Jim Cramer recently advised against investing in Marathon Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38306296/jim-cramer-says-just-go-buy-ethereum-or-bitcoin-instead-of-marathon-digital-lets-not-fool-">company involved in Bitcoin mining</a>, and instead recommended Bitcoin or Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) as alternatives. 
Price Action:&nbsp;Bitcoin is currently trading at $61,562, showing a 0.48% increase in the last 24 hours and a notable 39.37% gain year to date, according to data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274582/shiba-inu-down-20-on-the-week-but-these-proven-milestones-could-lead-to-massive-bull-marke?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Down 20% On The Week, But: These &#8216;Proven Milestones&#8217; Could Lead To &#8216;Massive Bull Market,&#8217; Touts</a>
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Analyst Ratings

$ETH

MARA

Bitcoin Could Potentially Dip Below $60K Before 'Hate Halving Rally,' Says Crypto Analyst

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has the potential to see its stock price surge by 81% in the next year, according to a recent note by Evercore ISI.
What Happened: Evercore ISI initiated Nvidia with an &#8220;Outperform&#8221; rating and set a price target of $1,160, representing a 36% potential upside from the current levels, <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-prediction-ai-ecosystem-potential-fully-realized-2024-4">reported</a> Business Insider. 
In a bullish scenario, the firm suggested that the stock could potentially reach $1,540, an 81% increase from the current levels.
The note highlighted Nvidia&#8217;s position as a leader in the AI ecosystem, a role that is expected to drive efficiency gains for years to come. 
Evercore ISI&#8217;s Mark Lipacis believes that Nvidia&#8217;s AI ecosystem play could capture 80% of the value created during its respective computing era, with the potential to dominate the parallel processing market by 2030, a market that could be worth more than $350 billion.
&#8220;We think investors underestimate 1) the importance of the chip+hardware+software ecosystem that Nvidia has created, 2) that computing eras last 15-20 years and are typically dominated by a single vertically integrated ecosystem company, whose returns are measured in 100-to-1000 bagger range,&#8221; Lipacis said.
&#8220;We believe that the Tectonic Shift to the current Parallel Processing / IoT Computing Era started 5-to-8 years ago, and that NVDA is the dominant ecosystem play in parallel processing, which is only in the beginning phases of generating outsized returns for its investors,&#8221; Lipacis said.  
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Why It Matters: Nvidia has been making strategic moves to solidify its position in the AI chip market. In response to U.S. sanctions, the company has <a href="https://www.benzinga.com/government/24/04/38267102/intel-and-nvidia-reveal-new-products-for-china-adapt-ai-chip-strategies-in-response-to-us-sanctions">revealed new products for China</a>, aiming to launch two AI chips with diminished capabilities to comply with the sanctions. This move could potentially open up new avenues for growth in the Chinese market.
Analysts have also been bullish on Nvidia&#8217;s future prospects. Piper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Nvidia, citing <a href="https://www.benzinga.com/news/24/04/38257652/nvidias-hopper-demand-and-blackwell-launch-position-makes-it-a-top-large-cap-pick-analysts">strong demand for the company</a>&#8216;s Hopper chips and the upcoming Blackwell launch as key factors driving future growth.
Despite recent market dips, market commentator Jim Cramer has maintained his <a href="https://www.benzinga.com/markets/equities/24/04/38175804/jim-cramer-stands-by-nvidia-and-eli-lilly-despite-market-dips-says-terrific-time-to-take-some-pr">confidence in Nvidia</a>, noting that the stock still holds significant growth potential.
Read Next: <a href="https://www.benzinga.com/news/24/04/38286752/elon-musk-reacts-as-marc-andreessen-says-google-is-literally-run-by-employee-mobs-with-chinese-spies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As Marc Andreessen Says Google Is &#8216;Literally Run By Employee Mobs&#8217; With &#8216;Chinese Spies&#8217; Scooping Up AI Chip Designs</a>
Image Via Shutterstock 
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NVDA

Nvidia Stock Could See 81% Upside By 2025, Says Evercore ISI: 'Only In The Beginning Phases Of Generating Outsized Returns'

In a recent episode of &#8220;Mad Money,&#8221; host Jim Cramer advised against investing in Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and instead recommended Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) or Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
What Happened: Cramer, in his &#8220;Lightning Round&#8221; segment, discouraged viewers from purchasing Marathon Digital, a company involved in Bitcoin mining, <a href="https://www.cnbc.com/2024/04/17/cramers-lightning-round-ethereum-or-bitcoin-instead-of-marathon-digital.html">reported</a> CNBC. He suggested that investors consider Bitcoin or Ethereum as alternatives.
"If you want to own Marathon Digital, just go buy either Ethereum or buy Bitcoin, ok. Let's not fool around," Cramer said. 
Marathon Digital&#8217;s stock has experienced a tumultuous period, with its value dropping by over 20% in the past month. This decline is attributed to the overall volatility in the cryptocurrency market.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38284285/netflix-amc-united-airlines-wisa-technologies-tesla-why-these-5-stocks-are-on-investors-radars-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NFLX, AMC,UAL, WISA, TSLA: Top Trending Stocks Today</a>
Why It Matters: Cramer&#8217;s advice aligns with the current state of the crypto market. On Tuesday, cryptocurrency analyst Ali Martinez <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284030/bitcoin-hinges-on-this-key-support-level-says-analyst-could-significantly-boost-the">highlighted the importance</a> of Bitcoin&#8217;s $62,000 support level. Failure to maintain this level could shift focus to the next significant demand area, approximately $51,500. Conversely, a climb back above $66,250 could significantly boost the chances of a resurgence in the market.
Despite concerns about the crypto market, Wall Street experts remain <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">confident in the bull market</a>&#8216;s continuation. They cite a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers.
On the broader market front, Cramer has also <a href="https://www.benzinga.com/markets/equities/24/04/38306086/jim-cramer-explains-what-could-trigger-further-market-decline-if-you-want-to-get-out-go-ahead">outlined potential factors</a> that could lead to further market decline, advising investors to be cautious about their buying and selling decisions. His recent advice regarding Marathon Digital is in line with his cautious approach to the current market conditions.
Price Action: While Marathon Digital Holdings closed at $14.63 on Wednesday, marking a modest 0.21% increase, the stock has experienced a significant decline of 36.20% year to date. In contrast, Bitcoin is currently trading at $61,562, showing a 0.48% increase in the last 24 hours and a notable 39.37% gain year to date. Ethereum, on the other hand, is trading at $3,000, with a 0.61% increase in the past 24 hours and a solid 27.54% gain year to date, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38293168/macro-guru-raoul-pal-says-80-of-his-crypto-investment-is-in-this-ethereum-rival-and-i-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Macro Guru Raoul Pal Says 80% Of His Crypto Investment Is In This Ethereum Rival: &#8216;And I Have 1% In Stupid S&#x2A;&#x2A;t Like Dogwifhat, Dogecoin And Bonk&#8217;</a>
Image Via Shutterstock 
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 Benzinga Neuro, Edited by 
 
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 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 
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Jim Cramer Says Just Go Buy Ethereum Or Bitcoin Instead Of Marathon Digital: 'Let's Not Fool Around'

Social media personality Topdoge recently speculated on the potential for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) to reach a $500B market cap, reminiscent of Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) previous bull run.
What Happened: On Wednesday, Topdoge shared an analysis on X, formerly Twitter, comparing Dogecoin&#8217;s potential growth to Ethereum&#8217;s 2020 bull run. If Dogecoin were to hit a $500B market cap, the cryptocurrency&#8217;s value would be around $4.20, according to Topdoge&#8217;s calculations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dogecoin 2024 &#x1f436; vs Ethereum 2020 &#x1f4c8; Just did the math. If Dogecoin hits $500B market cap like Ethereum hit last bull run it will put Dogecoin right up around $4.20 &#x1f440; Remember when Elon Musk said that "fate loves irony" I don't think that he was joking. <a href="https://t.co/csg3X7s10x">pic.twitter.com/csg3X7s10x</a>
&mdash; 
</blockquote></div></figure>

$DOGE

Dogecoin Could Make Elon Musk's 'Fate Loves Irony' Comment Come True If It Flips Ethereum's Market Cap At Last Bull Run, Says This Crypto Influencer

Ideaya gains after clinical trial pact with Merck

Ideaya inks clinical trial pact with Merck

Tim Chiang, an analyst from Capital One Financial, maintained the Buy rating on IDEAYA Biosciences (IDYA – Research Report). The associated price t...

Strong Buy Rating for IDEAYA Biosciences Based on Strategic Partnership and Promising Oncology Pipeline

Ideaya Biosciences Inc (IDYA) is around the top of the Biotechnology industry according to InvestorsObserver. IDYA received an overall rating of 65, which means that it scores higher than 65 percent of all stocks. Ideaya Biosciences Inc also achieved a score of 79 in the Biotechnology industry, putting it above 79 percent

Is Ideaya Biosciences Inc (IDYA) a Good Choice in Biotechnology Monday?

A rating of 82 puts Ideaya Biosciences Inc (IDYA) near the top of the Healthcare sector according to InvestorsObserver.Ideaya Biosciences Inc's score of 82 means that it ranks higher than 82% of stocks in the sector. In addition, its overall score of 84 ranks it higher than 84% of all stocks. IDYA has an Overall Score of 8

Is Ideaya Biosciences Inc (IDYA) a Good Buy in the Healthcare Sector?

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Exelixis (EXEL – Research Report), IDEAYA Bioscience...

Analysts Offer Insights on Healthcare Companies: Exelixis (EXEL), IDEAYA Biosciences (IDYA) and Vor Biopharma (VOR)

The market has been down on Ideaya Biosciences Inc (IDYA)  stock recently. IDYA gets a Bearish score from InvestorsObserver Stock Sentiment Indicator. Ideaya Biosciences Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on IDYA!See Full IDYA ReportWhat is Stock Sentiment

Do Traders Think Ideaya Biosciences Inc (IDYA) Can Turn Around Tuesday?

Let's talk about stock picking. It's a bit like going to an orchard: if you get there too late, the low-hanging fruit is all gone, and you'll have ...

TipRanks' 'Perfect 10' List: These 3 Top-Scoring Stocks Are Sending a Bullish Signal

The 70 rating InvestorsObserver gives to Ideaya Biosciences Inc (IDYA)  stock puts it near the top of the Biotechnology industry. In addition to scoring higher than 84 percent of stocks in the Biotechnology industry, IDYAâ€&#x2122;s 70 overall rating means the stock scores better than 70 percent of all stocks. IDYA has an Overall S

Is Ideaya Biosciences Inc (IDYA) a Leader in the Biotechnology Industry?

The 99 rating InvestorsObserver gives to Ideaya Biosciences Inc (IDYA)  stock puts it near the top of the Healthcare sector.In addition to scoring higher than 88 percent of stocks in the Healthcare sector, IDYA's 99 overall rating means the stock scores better than 99 of all stocks. IDYA has an Overall Score of 99. Find ou

Will Ideaya Biosciences Inc (IDYA) Stay at the Top of the Healthcare Sector?

BBIO

EXEL

RAMP

Press Releases

IDEAYA Biosciences Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

IDEAYA Biosciences Announces Participation at the 42nd Annual J.P. Morgan Healthcare Conference and 2024 Corporate Guidance

IDEAYA Biosciences to Participate in Upcoming February 2024 Investor Relations Events

IDEAYA Biosciences, Inc. Reports Fourth Quarter and Full-Year 2023 Financial Results and Provides Business Update

IDEAYA Biosciences to Participate in Upcoming March 2024 Investor Relations Events

IDEAYA Announces Clinical Collaboration to Evaluate IDE161 in Combination with KEYTRUDA® (pembrolizumab) in Patients with Endometrial Cancer

IDEAYA Biosciences to Participate in Upcoming April 2024 Investor Relations Event