InMed Pharmaceuticals Stock (NASDAQ: INM)

InMed Pharmaceuticals Stock (NASDAQ:INM), Trade Ideas

InMed Pharmaceuticals

InMed Pharmaceuticals Inc is a Canada based clinical-stage biopharmaceutical company. The company is engaged in the research and development of novel, cannabinoid-based, and manufacturing of Pharmaceutical grade cannabinoids. Its product portfolio includes INM-755, which is used for the treatment of epidermolysis bullosa; INM-088 for the treatment of glaucoma; and IntegraSyn which is a manufacturing system for Pharmaceutical-Grade Cannabinoids.

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The Dow Jones index closed higher by over 450 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

InMed Pharmaceuticals And 2 Other Penny Stocks Insiders Are Buying

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The Dow Jones index closed higher by around 0.1% on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Charles &amp; Colvard And 3 Other Stocks Under $2 Insiders Are Buying

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60 Minutes (@60Minutes) Posts On X "One Of Only Five Companies To Ever Surpass $2 Trillion In Stock Market Value, Computer Chip Maker Nvidia Ushered In The Artificial Intelligence Revolution With Its Groundbreaking Software And Graphics Processing Unit. @BillWhitaker Reports, Sunday"

Garry&#8217;s Mod, a popular sandbox game born from Valve&#8217;s Source software modding scene in 2006, faces a significant overhaul due to takedown notices from <a href="https://www.benzinga.com/general/gaming/24/04/38302723/unveiling-nintendos-april-2024-indie-world-showcase-whats-in-store">Nintendo ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>). </a>
Facepunch Studios, the developers, are forced to remove approximately 20 years&#8217; worth of Nintendo-related content from the game.
&#8220;This is not a mistake, the takedowns came from Nintendo,&#8221; an <a href="https://store.steampowered.com/news/app/4000/view/4200245595694413052?l=english">update</a> on Garry&#8217;s Mod&#8217;s Steam page said. &#8220;This is Nintendo's content and what they allow and don't allow is up to them.&#8221;
See Also: <a href="https://www.benzinga.com/general/gaming/24/02/37375657/yuzu-emulator-under-fire-nintendo-sues-over-alleged-1-million-pre-release-zelda-downloads">Yuzu Emulator Under Fire &#8211; Nintendo Sues Over Alleged 1 Million Pre-Release Zelda Downloads</a>
The sudden enforcement by Nintendo is surprising, considering Nintendo-themed content has been part of Garry&#8217;s Mod for nearly two decades, Kotaku <a href="https://kotaku.com/nintendo-garrys-mod-takedown-content-1851433656">reported.</a>
The flexibility of the Source engine in Garry&#8217;s Mod, coupled with its popularity among gaming YouTubers in the early 2010s, contributed to its widespread appeal. However, Facepunch&#8217;s leniency regarding content moderation likely prompted Nintendo&#8217;s action.
The takedown process began a few months ago, although Facepunch only publicly acknowledged it recently. 
Removing all Nintendo-related content is a daunting task, as mentioned humorously by Facepunch: &#8220;If you want to help us by deleting your Nintendo related uploads and never uploading them again, that would help us a lot.&#8221;
Nintendo has a history of vigorously safeguarding its intellectual property rights. Last year, it prompted the removal of the Dolphin Emulator from Steam. 
Additionally, Nintendo filed a $2.4 million lawsuit against the developers of the Nintendo Switch emulator Yuzu, resulting in the closure of other emulator projects due to apprehension about legal repercussions from Nintendo.
Read Next: <a href="https://www.benzinga.com/general/gaming/24/02/37315458/this-is-the-reason-behind-nintendo-switch-2s-delay-to-march-2025-report-says" target="_blank" rel="noreferrer noopener">This Is The Reason Behind Nintendo Switch 2&#8217;s Delay To March 2025, Report Says</a>
Image created using photos from Wikipedia and Shutterstock.

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Garry's Mod Under Fire: Nintendo Orders Massive Content Purge

Barrington Research analyst Alexander Paris maintains Strategic Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) with a Outperform and raises the price target from $125 to $135.

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Barrington Research Maintains Outperform on Strategic Education, Raises Price Target to $135

JonesTrading analyst Jason Weaver maintains Annaly Capital Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLY#NYSE">NLY</a>) with a Buy and maintains $21 price target.

JonesTrading Maintains Buy on Annaly Capital Management, Maintains $21 Price Target

Barrington Research analyst James Goss maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Outperform and maintains $24 price target.

IMAX

Barrington Research Maintains Outperform on Imax, Maintains $24 Price Target

In an era of blossoming cannabis markets, North America stands out with significant milestones as Massachusetts and Canada reveal positive sales figures.
<h3 class="wp-block-heading">Massachusetts&#8217; Green Milestone: Surpassing $6 Billion</h3>
<a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts</a> has set an impressive record, with cannabis establishments collectively crossing the $6 billion threshold in gross sales. Not surprisingly, a single-day sales record was smashed on April 20, as cannabis enthusiasts celebrated, amassing $8.5 million in transactions, <a href="https://masscannabiscontrol.com/2024/04/massachusetts-marijuana-establishments-surpass-6-billion-in-gross-sales-in-lead-up-to-4-20-and-set-single-sales-day-record-on-consumer-holiday/" target="_blank" rel="noreferrer noopener">noted</a> a press release from the Cannabis Control Commission (CCC). This robust growth signals not just a triumph for the industry but also for the economic and regulatory frameworks in place.
"I continue to be encouraged by these sales milestones because they show that the industry is strong and efficiently regulated, both spurring economic development and critical tax revenue for the Commonwealth and providing safe, tested products for consumers and patients alike," said Ava Callender Concepcion, acting chair of the CCC.
Read also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38022665/massachusetts-cannabis-market-hits-record-highs-faces-regulatory-challenges-and-more" target="_blank" rel="noreferrer noopener">Massachusetts&#8217; Cannabis Market Hits Record Highs, Faces Regulatory Challenges, And More</a>
According to the CCC's sales and product distribution <a href="https://masscannabiscontrol.com/open-data/sales-and-product-distribution/">data</a>, medical cannabis made $62.5 million in sales in 2024. Massachusetts' delivery operators are also thriving, generating $3.1 million in sales in 2024 and contributing $26.3 million in sales to the state&#8217;s cannabis market since their first deliveries in 2021.
<h3 class="wp-block-heading">Canada&#8217;s Slow Climb: Provincial Perspectives</h3>
Across the northern border, Canada&#8217;s retail cannabis sales are showing modest growth. According to the latest <a href="https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2010005601&amp;pickMembers%5B0%5D=2.30&amp;pickMembers%5B1%5D=3.1&amp;pickMembers%5B2%5D=4.1&amp;cubeTimeFrame.startMonth=12&amp;cubeTimeFrame.startYear=2017&amp;cubeTimeFrame.endMonth=05&amp;cubeTimeFrame.endYear=2024&amp;referencePeriods=20171201%2C20240501">release</a> from Statistics Canada, the nation tallied over CA$376 million ($274.9 million) in February 2024 alone, showcasing a resilient industry despite fluctuating global economic currents.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="976" height="687" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25142318/canadafeb24.png" alt="" class="wp-image-309428" style="width:553px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25142318/canadafeb24.png 976w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25142318/canadafeb24-300x211.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25142318/canadafeb24-768x541.png 768w" sizes="(max-width: 976px) 100vw, 976px" /><figcaption class="wp-element-caption">Canada&#8217;s monthly cannabis retail sales in millions of CA$&#x7C; Source: Statistics Canada. Table 20-10-0056-01</figcaption></figure>
Ontario leads the charge with CA$145,7 million ($106 million), followed closely by Alberta and British Columbia, underscoring a nationwide embrace of cannabis products.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Geography</td>
<td>Feb-23</td>
<td>Feb-24</td>
<td class="has-text-align-center" data-align="center">YoY Sales Growth %</td>
</tr>
<tr>
<td>Nova Scotia</td>
<td>CA$ 8,4 million</td>
<td>CA$ 12,6 million</td>
<td class="has-text-align-center" data-align="center">49.1%</td>
</tr>
<tr>
<td>Newfoundland and Labrador</td>
<td>CA$ 5,6 million</td>
<td>CA$ 7,0 million</td>
<td class="has-text-align-center" data-align="center">26.3%</td>
</tr>
<tr>
<td>Yukon</td>
<td>CA$ 788 thousand</td>
<td>CA$ 968 thousand</td>
<td class="has-text-align-center" data-align="center">22.8%</td>
</tr>
<tr>
<td>Manitoba</td>
<td>&nbsp;CA$ 14,3 million</td>
<td>CA$ 16,8 million</td>
<td class="has-text-align-center" data-align="center">17.2%</td>
</tr>
<tr>
<td>New Brunswick</td>
<td>CA$ 6,1 million</td>
<td>CA$ 7,0 million</td>
<td class="has-text-align-center" data-align="center">14.9%</td>
</tr>
<tr>
<td>Prince Edward Island</td>
<td>CA$ 1,7 million</td>
<td>CA$ 1,9 million</td>
<td class="has-text-align-center" data-align="center">12.2%</td>
</tr>
<tr>
<td>Alberta</td>
<td>CA$ 65,0 million</td>
<td>CA$ 72,0 million</td>
<td class="has-text-align-center" data-align="center">10.8%</td>
</tr>
<tr>
<td>Quebec</td>
<td>CA$ 45,1 million</td>
<td>CA$ 49,0 million</td>
<td class="has-text-align-center" data-align="center">8.5%</td>
</tr>
<tr>
<td>Saskatchewan</td>
<td>CA$ 13,5 million</td>
<td>CA$ 13,4 million</td>
<td class="has-text-align-center" data-align="center">-0.4%</td>
</tr>
<tr>
<td>Ontario</td>
<td>CA$ 151,1 million</td>
<td>CA$ 145,7 million</td>
<td class="has-text-align-center" data-align="center">-3.6%</td>
</tr>
<tr>
<td>British Columbia</td>
<td>CA$ 56,8 million</td>
<td>&nbsp;CA$ 48,3 million</td>
<td class="has-text-align-center" data-align="center">-15.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Statistics Canada. Sales for the Northwest Territories and Nunavut regions were not added to the report.</figcaption></figure>
However, despite the 1.7% year-over-year growth in the cannabis sector, <a href="https://www.benzinga.com/topic/canada-cannabis">Canada&#8217;s sales</a> have seen a downtrend for the second consecutive month:
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25143828/canadaall-1024x456.png" alt="" class="wp-image-309448" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25143828/canadaall-1024x456.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25143828/canadaall-300x134.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25143828/canadaall-768x342.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25143828/canadaall-1536x684.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25143828/canadaall.png 1541w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Canada monthly cannabis retail sales in millions of CA$&#x7C; Source: Statistics Canada. Table 20-10-0056-01</figcaption></figure>
As Canada grapples with a two-month sales dip and Massachusetts celebrates its record sales, these fluctuations depict a nuanced canvas of North America&#8217;s cannabis industry, evolving with consumer trends and regulatory landscapes.
Read also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38420095/cannabis-companies-gains-u-s-versus-canada-averages-can-be-deceiving-irrational-mar" target="_blank" rel="noreferrer noopener">Cannabis Companies&#8217; Gains &#8211; U.S. Versus Canada: Averages Can Be Deceiving, Irrational Market Behavior To Blame?</a>

Cannabis

Retail Sales

Massachusetts Cannabis Sales Soar Past $6B Record, Canada Sees Steady 1.7% Year-Over-Year Growth

Boise Cascade's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCC#NYSE">BCC</a>) short percent of float has fallen 15.29% since its last report. The company recently reported that it has 1.16 million shares sold short, which is 4.32% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.24 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Boise Cascade Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714072524_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Boise Cascade has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Boise Cascade's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Boise Cascade's peer group average for short interest as a percentage of float is 4.21%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Short Ideas

How Is The Market Feeling About Boise Cascade?

Seagate Tech Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STX#NYSE">STX</a>) short percent of float has fallen 6.4% since its last report. The company recently reported that it has 8.80 million shares sold short, which is 5.12% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.89 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Seagate Tech Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714072518_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Seagate Tech Hldgs has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Seagate Tech Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Seagate Tech Hldgs's peer group average for short interest as a percentage of float is 6.37%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(STX) - Analyzing Seagate Tech Hldgs's Short Interest

Carlyle Group's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CG#NYSE">CG</a>) short percent of float has fallen 5.73% since its last report. The company recently reported that it has 15.49 million shares sold short, which is 7.4% of all regular shares that are available for trading. Based on its trading volume, it would take traders 8.03 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Carlyle Group Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714072513_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Carlyle Group has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Carlyle Group's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Carlyle Group's peer group average for short interest as a percentage of float is 2.49%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Carlyle Group's Recent Short Interest

KLAC

LRCX

LSCC

MPWR

Shares of semiconductor stocks are trading higher in reaction to Meta's increased capex guidance and in possible anticipation of Intel's earnings report. The sector recently gained following strong earnings from Texas Instruments.

Semiconductor stocks have been in the spotlight lately, with ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) and Globalfoundries Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>) trading near their 52-week lows. 
These companies are part of the MANGO acronym, a term introduced by BofA Securities analyst Vivek Arya. ON and Globalfoundries — along with Marvell Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Advanced Micro Devices, Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Analog Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) — are sector leaders and aim to mirror the success of FAANG stocks.
We highlighted these stocks earlier in our analysis: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38169084/what-is-the-most-undervalued-mango-semiconductor-stock-right-now">What Is The Most Undervalued MANGO (Semiconductor) Stock Right Now?</a>
ON Semiconductor, currently trading at around $66, has a 52-week range of $59.34 &#8211; $111.35, with the low of $59.34 recorded on April 22. On reports Q1 earnings on April 29, before the market open.
Globalfoundries, trading at around $48, has a 52-week range of $45.52 &#8211; $68.57, with the low of $45.52 also recorded on April 22, 2024. GFS reports Q1 earnings on May 7, before the market open.
<h2 class="wp-block-heading">MANGO Stocks Performance Overview</h2>
A look at the one-year price performance of MANGO stocks shows a mix of growth trajectories. 
<ul>
<li>Nvidia leads the pack with an impressive surge of +194.64%</li>
<li>Broadcom follows with +116.45%</li>
<li>Advanced Micro Devices boasts +98.07%. </li>
<li>Marvell and Analog Devices also showcased notable gains</li>
<li>GlobalFoundries and ON Semiconductor presented more modest figures, with declines of -22.42% and -11.90%, respectively.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>MANGO Stocks (Semis)</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Symbol</td>
<td></td>
<td>Price</td>
<td>52W Range ($)</td>
<td>YTD Perf</td>
<td>1Y Perf</td>
<td>3Y Perf</td>
</tr>
<tr>
<td>NVDA</td>
<td></td>
<td>796.77</td>
<td>266.25 974.00</td>
<td>60.89%</td>
<td>194.64%</td>
<td>421.95%</td>
</tr>
<tr>
<td>ON</td>
<td></td>
<td>65.53</td>
<td>59.34 111.35</td>
<td>-21.55%</td>
<td>-11.90%</td>
<td>54.01%</td>
</tr>
<tr>
<td>AVGO</td>
<td></td>
<td>1,256.82</td>
<td>601.29 1,438.17</td>
<td>12.59%</td>
<td>98.07%</td>
<td>169.63%</td>
</tr>
<tr>
<td>ADI</td>
<td></td>
<td>196.5</td>
<td>154.99 204.20</td>
<td>-1.04%</td>
<td>5.10%</td>
<td>23.57%</td>
</tr>
<tr>
<td>GFS</td>
<td></td>
<td>47.31</td>
<td>45.52 68.57</td>
<td>-21.93%</td>
<td>-22.42%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>AMD</td>
<td></td>
<td>151.74</td>
<td>81.02 227.30</td>
<td>2.94%</td>
<td>73.28%</td>
<td>83.35%</td>
</tr>
<tr>
<td>MRVL</td>
<td></td>
<td>64.85</td>
<td>37.71 85.76</td>
<td>7.53%</td>
<td>67.31%</td>
<td>40.67%</td>
</tr>
</tbody>
</table>
</figure>
Data Source: Seeking Alpha
With ON and Globalfoundries are trading around their 52-week lows, investors wonder whether they hold value. Let&#8217;s look at the valuations.
<h2 class="wp-block-heading">Most Undervalued MANGO Stock</h2>
Delving into the valuation metrics, ON Semiconductor and GLOBALFOUNDRIES appear to be undervalued compared to their peers.
We compared the MANGO stocks on the following basis:
<ol>
<li>Price-to-Earnings (P/E) Ratio:&nbsp;so investors can assess the relative valuation of MANGO stocks based on their earnings generation.</li>
<li>Enterprise Value-to-Sales (EV/Sales) Ratio:&nbsp;MANGO stocks may not have consistent profits but have strong revenue growth.</li>
</ol>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Symbol</td>
<td>P/E FWD</td>
<td>EV / Sales</td>
</tr>
<tr>
<td>NVDA</td>
<td>31.88</td>
<td>31.94</td>
</tr>
<tr>
<td>ON</td>
<td>15.32</td>
<td>3.55</td>
</tr>
<tr>
<td>AVGO</td>
<td>26.57</td>
<td>16.63</td>
</tr>
<tr>
<td>ADI</td>
<td>32.63</td>
<td>8.92</td>
</tr>
<tr>
<td>GFS</td>
<td>35.18</td>
<td>3.34</td>
</tr>
<tr>
<td>AMD</td>
<td>41.98</td>
<td>10.7</td>
</tr>
<tr>
<td>MRVL</td>
<td>45.49</td>
<td>10.82</td>
</tr>
</tbody>
</table>
</figure>
Data Source: Seeking Alpha
ON and Globalfoundries are relatively better valued than their MANGO stock peers.
Analysts also see potential in investing in these stocks:
<ul>
<li>ON Semiconductor commands a <a href="https://www.benzinga.com/quote/ON/analyst-ratings">consensus price target</a> of $73.33, suggesting an implied upside of 11.45% based on recent analyst ratings.</li>
<li>Globalfoundries is pegged with a <a href="https://www.benzinga.com/quote/GFS/analyst-ratings">consensus price target</a> of $60.33, hinting at a potential 27.26% upside, as per the latest analyst assessments.</li>
</ul>
As the semiconductor industry evolves, prudent analysis and strategic investment decisions will be pivotal in navigating this dynamic landscape. 
With varied performance trajectories and distinct valuation metrics, investors have diverse options to consider within the MANGO portfolio.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38355764/intels-inventory-issues-redditors-highlight-how-overstock-killed-their-margins-yet-">Intel&#8217;s Inventory Issues: Redditors Highlight How Overstock &#8216;Killed Their Margins,&#8217; Yet Analysts See Upside</a>
Image: Shutterstock

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2 Semiconductor MANGO Stocks Trading Near 52-Week Lows As They Head Into Q1 Earnings

Telsey Advisory Group analyst Joseph Feldman maintains Tractor Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>) with a Outperform and maintains $275 price target.

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<h3 class="wp-block-heading">House-Approved Marijuana Banking Bill Advances In Delaware Senate</h3>
A measure that advanced through Delaware House and seeks to put into effect a law under which banks doing business with licensed marijuana businesses would be protected got the green light at the state Senate committee this week.
On Wednesday, the legislation from Rep. Ed Osienski (D) and Sen. Trey Paradee (D) advanced through the Senate Health &amp; Social Services Committee.
The synopsis of <a href="https://legis.delaware.gov/BillDetail?legislationId=141114">House Bill 355</a> stipulates that the measure "clarifies that banks, credit unions, armored car services, and providers of accounting services are not subject to prosecution under Delaware law merely by providing lawful services to licensed businesses engaged in the production, distribution and sale of cannabis in Delaware."
<h3 class="wp-block-heading">Schumer Says Marijuana Reform Needs To Be A Bipartisan Effort</h3>
On a federal level, Senate Majority Leader Chuck Schumer (D-NY) listed a bipartisan marijuana banking bill as a priority in his chamber, <a href="https://www.marijuanamoment.net/senators-will-do-our-best-to-pass-marijuana-banking-bill-in-a-bipartisan-way-schumer-says/">reported</a> Marijuana Moment.
On Tuesday he said "trying to deal with" the Secure and Fair Enforcement Regulation (SAFER) Banking Act "and cannabis reform," is on the Senate's agenda. He was asked about what's next for the chamber's members following this week's passage of a foreign aid package.
"We've got a lot to do," Schumer said referring to "a bunch of different bills". He added that lawmakers need to "work in a bipartisan way," while doing "our best to get many of them done."
<h3 class="wp-block-heading">Georgia's Restrictive Hemp Measure Awaits Gov. Kemp's Approval</h3>
Georgia Gov. Brian Kemp has until May 7 to weigh in on a bill that seeks to further regulate and license the purchase of hemp products to those 21 and older.
Dubbed "The Georgia Hemp Farming Act," the bill from Republican Moultrie Sen. Sam Watson would mandate testing for all hemp-derived products, including CBD and Delta-8 edibles and drinks while prohibiting sales to minors.
Watson, whose legislation was approved by the state Senate late in the session, says his efforts are toward providing more protection for consumers, <a href="https://georgiarecorder.com/2024/04/23/bill-to-regulate-hemp-products-in-georgia-awaits-governors-signature-while-some-hope-for-veto/">reported</a> Georgia Recorder.
"We regulate tobacco, we regulate alcohol, we regulate food, yet we've got a ton of these products out there now that we're not regulating as a state to protect the people of our state," he said.&nbsp;"Kids go into these gas stations and buy gas and this stuff is being sold and nobody knows what's in it and nobody's checking it and that's just scary."
<h3 class="wp-block-heading">Louisiana Bill To Create Regulatory Framework For Legal Marijuana Advances Through Legislature</h3>
Meanwhile, in Louisiana, state House committee members gave the green light to a measure that would set up a regulatory framework for marijuana legalization, <a href="https://www.marijuanamoment.net/louisiana-lawmakers-approve-bill-to-create-marijuana-legalization-regulatory-framework/">reported</a> Marijuana Moment.
The bill builds on <a href="https://www.benzinga.com/markets/cannabis/21/06/21576197/louisiana-governor-signs-marijuana-decriminalization-bill-into-law">legislation</a> that decriminalized small amounts of cannabis possession <a href="https://www.benzinga.com/markets/cannabis/21/08/22293351/marijuana-possession-no-longer-criminal-offense-in-louisiana-cannabis-decriminalization-bill-goe">for personal use statewide in 2021.</a>
The measure from Rep. Edmond Jordan (D) was approved this week in the House Health and Welfare Committee in a unanimous vote.
This bill is a prerequisite for the passage of additional bills that would allow possession of cannabis and tax marijuana sales.
Under an adult-use cannabis program, those 21 and older would be allowed to purchase up to one ounce of cannabis daily and apply for a license to grow up to six plants for personal use, with a cap of 12 plants per household.
Now read: <a href="https://www.benzinga.com/markets/cannabis/23/06/32897422/louisiana-governor-signs-marijuana-expungement-legislation-into-law">Louisiana Governor Signs Marijuana Expungement Legislation Into Law</a>

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Marijuana Reform On Fast Track In These States As Sen. Schumer Stresses The Need For A Bipartisan Effort

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