Short interest for Incannex Healthcare gives investors a sense of the degree to which investors are betting on the decline of Incannex Healthcare's stock. Short interest data is updated every two weeks.

Incannex Healthcare Stock (NASDAQ:IXHL), Short Interest Report

Incannex Healthcare Inc is a clinical stage pharmaceutical company developing medical cannabis products for the treatment of Obstructive Sleep Apnea (OSA), Traumatic Brain Injury (TBI)/Concussion, Rheumatoid Arthritis, Inflammatory Bowel Disease, and Inflammatory Lung Conditions. The company has an Australian license to import, export, and distribute medicinal cannabis products and has launched a line of cannabinoid products.

Cannabisl Regulation (Sora Shimazaki by Pexels)(3)

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Incannex Healthcare Inc., a cannabinoid and psychedelic medicine biotechnology company, announced the successful completion of a pre-investigational new drug meeting with the U.S. Food and Drug Administration (FDA) regarding the development of CannQuit-O for the treatment of opioid use disorder (OUD).A number of FDA representatives shared insights on the CannQuit-O development program during the pre-IND teleconference in addition to providing recommendations on the proposed clinical development strategy.

FDA Experts Weigh In On Incannex&#39;s CannQuit-O With Feedback On CBD As Treatment For Opioid Use Disorder

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Psyched: DEA Revisits Ban On Two Psychedelics, Farewell Russell Newcombe, Podcast Episode On Kanna &amp; More

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Psyched: 5-MeO-DMT For Depression, Utah Hospitals Providing Therapy, Elon Musk And Meta&#39;s Influence

Incannex Healthcare Inc

Shares of Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) fell sharply during Wednesday's session after the company reported first-quarter financial results and issued second-quarter revenue <a href="https://www.benzinga.com/news/earnings/24/05/38682848/upstart-q1-earnings-revenue-beat-eps-beat-targeting-positive-ebitda-in-2024-and-more">guidance below estimates</a>.
Upstart reported first-quarter revenue of $128 million, which beat the consensus estimate of $124.867 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Upstart expects second-quarter revenue of approximately $125 million versus estimates of $140.83 million. The company anticipates a second-quarter adjusted EBITDA loss of approximately $25 million.
Upstart shares dipped 10.3% to $21.96 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Reborn Coffee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REBN#NASDAQ">REBN</a>) shares jumped 132.9% to $4.0297 after the company announced a significant expansion into the China market through a strategic Master License Agreement with IAID Co.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) gained 49% to $0.1966.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) jumped 36.4% to $1.48.</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) rose 34% to $1.4099.</li>
<li>Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INOD#NASDAQ">INOD</a>) shares gained 31.5% to $8.86 after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>Cricut, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRCT#NASDAQ">CRCT</a>) gained 31% to $7.25 after the company reported better-than-expected first-quarter GAAP EPS results.</li>
<li>MaxCyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXCT#NASDAQ">MXCT</a>) rose 27.6% to $5.01 following upbeat quarterly results.</li>
<li>Ameresco, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRC#NASDAQ">AMRC</a>) gained 27.6% to $28.47 following strong quarterly results.</li>
<li>Davis Commodities Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTCK#NASDAQ">DTCK</a>) rose 26.8% to $1.5580</li>
<li>Elanco Animal Health Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) surged 26.5% to $17.11 following strong quarterly earnings.</li>
<li>American Public Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APEI#NASDAQ">APEI</a>) rose 23.3% to $18.71 following upbeat quarterly results.</li>
<li>Globus Medical, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>) gained 23.3% to $63.35 after the company reported better-than-expected first-quarter financial results and raised its FY24 guidance.</li>
<li>Kyndryl Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) jumped 21.6% to $25.25 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>PowerSchool Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWSC#NYSE">PWSC</a>) gained 21.2% to $20.17 following a report suggesting Bain is pursuing a takeover of the company.</li>
<li>Myriad Genetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) rose 21.1% to $24.02 following better-than-expected first-quarter earnings.</li>
<li>Arko Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKO#NYSE">ARKO</a>) gained 20.3% to $5.15 following first-quarter earnings.</li>
<li>Latham Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWIM#NASDAQ">SWIM</a>) gained 19% to $3.5609 following strong first-quarter earnings.</li>
<li>Hyster-Yale Materials Handling, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HY#NYSE">HY</a>) surged 18.2% to $69.74 following UPBEAT first-quarter earnings.</li>
<li>Alpha and Omega Semiconductor Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOSL#NASDAQ">AOSL</a>) jumped 17.7% to $26.22 after reporting strong quarterly results.</li>
<li>Neo-Concept International Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) gained 17.2% to $1.1529 after declining over 6% on Tuesday.</li>
<li>Oddity Tech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODD#NASDAQ">ODD</a>) gained 15.8% to $36.19 after the company reported better-than-expected first-quarter financial results and issued FY24 EPS guidance above estimates.</li>
<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) climbed 15.5% to $32.82 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance.</li>
<li>Louisiana-Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) gained 15% to $83.93 following better-than-expected first-quarter financial results.</li>
<li>RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) rose 14.8% to $34.42 after the company reported better-than-expected first-quarter financial results and raised its FY24 guidance.</li>
<li>Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) rose 14.5% to $1.89 as the company posted a narrower-than-expected quarterly loss.</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) gained 14.2% to $27.09 after the company reported better-than-expected quarterly sales results.</li>
<li>Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HASI#NASDAQ">HASI</a>) gained 13.9% to $29.84 following upbeat earnings.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) rose 13% to $15.75 after the company reported mixed first quarter financial results.</li>
<li>Repare Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>) gained 11.7% to $3.6650 after the company posted better-than-expected results for its first quarter.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) gained 10.1% to $90.01 after the company reported first quarter financial results.</li>
<li>Cirrus Logic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>) jumped 9.6% to $99.93 as the company posted better-than-expected results for its fourth quarter.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) shares gained 9.5% to $0.81 after the company reported better than expected first-quarter financial results.</li>
<li>Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) gained 8.8% to $18.08 following better-than-expected first-quarter results.</li>
<li>Veeco Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VECO#NASDAQ">VECO</a>) rose 6.9% to $40.08 following upbeat results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Treace Medical Concepts, Inc.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) shares dipped 60.8% to $4.3650 after the company reported first-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) fell 38.5% to $18.79 after the company reported first-quarter financial results.</li>
<li>Inspire Medical Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INSP#NYSE">INSP</a>) fell 34.3% to $161.35 following first-quarter results.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) dipped 32.2% to $4.9150 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Seres Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCRB#NASDAQ">MCRB</a>) fell 31.1% to $0.7653 following quarterly results.</li>
<li>Tripadvisor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>) fell 28.4% to $18.24 after Liberty Tripadvisor and the Special Committee ceased discussions with third parties with respect to a potential transaction.</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares fell 25.2% to $11.98 after the company reported first-quarter financial results and issued second-quarter guidance below estimates.</li>
<li>LegalZoom.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LZ#NASDAQ">LZ</a>) dipped 23.3% to $9.35 after the company reported worse-than-expected first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>Semler Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) fell 22.7% to $21.78 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Grocery Outlet Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GO#NASDAQ">GO</a>) dipped 22.2% to $20.17 after the company reported worse-than-expected first-quarter adjusted EPS results.</li>
<li>Flywire Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYW#NASDAQ">FLYW</a>) shares declined 21.7% to $16.08 after the company reported worse-than-expected first-quarter EPS results and issued second-quarter revenue guidance below estimates.</li>
<li>SIGA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) dipped 20.6% to $8.31 following first-quarter results.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) fell 19.8% to $61.76 following first-quarter earnings..</li>
<li>Rapid7, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPD#NASDAQ">RPD</a>) dipped 18.6% to $37.26 following first-quarter earnings..</li>
<li>Acutus Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFIB#NASDAQ">AFIB</a>) fell 17.1% to $0.1020 after jumping 15% on Tuesday. Nasdaq, last week, notified the company that it has not regained compliance with listing rule 5550(a)(2).</li>
<li>Shoals Technologies Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) shares fell 14.1% to $7.56 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Masimo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) fell 13.8% to $117.23 following first-quarter earnings. The company&#8217;s second-quarter guidance midpoint was below consensus estimates.</li>
<li>EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) dipped 13.6% to $14.99 following worse-than-expected first-quarter financial results.</li>
<li>STAAR Surgical Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAA#NASDAQ">STAA</a>) dipped 11.8% to $41.10 following quarterly results.</li>
<li>Volcon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLCN#NASDAQ">VLCN</a>) shares declined 11.8% to $0.26 after the company reported a year-over-year decrease in first-quarter sales results.</li>
<li>Qualys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLYS#NASDAQ">QLYS</a>) fell 10.1% to $149.21 after the company reported first-quarter earnings and issued second-quarter revenue guidance below estimates.</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) fell 9.1% to $31.74 following third-quarter earnings.</li>
<li>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) dipped 8.6% to $64.40. Uber posted weaker-than-expected fiscal first-quarter financial results.</li>
<li>Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) fell 7.8% to $21.78 after the company reported mixed first-quarter financial results.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) shares declined 6.3% to $71.37 following first-quarter results.</li>
<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEU#NYSE">LEU</a>) shares declined 6.2% to $41.56 following first-quarter results.</li>
<li>A-Mark Precious Metals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRK#NASDAQ">AMRK</a>) shares fell 5.5% to $38.14 following fiscal third quarter 2024 results.</li>
<li>Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) shares fell 5.5% to $59.86 following first-quarter results.</li>
<li>OPKO Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPK#NASDAQ">OPK</a>) shares fell 5.4% to $1.23 after the company reported worse-than-expected first-quarter financial results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38702433/airbnb-gears-up-for-q1-print-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Airbnb Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>

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Why Upstart Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Compass Point analyst Floris Van Dijkum maintains Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) with a Neutral and lowers the price target from $28 to $27.

Price Target

Analyst Ratings

Compass Point Maintains Neutral on Vornado Realty, Lowers Price Target to $27

WIIM

VTEX

VTEX shares are trading lower after the company reported Q1 financial results.

Compass Point analyst Giuliano Bologna maintains Ambac Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) with a Buy and raises the price target from $18 to $19.

AMBC

Compass Point Maintains Buy on Ambac Financial Group, Raises Price Target to $19

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Communication Services sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>META</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$475.00</td>
<td>$31.8K</td>
<td>3.4K</td>
<td>27.0K</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$290.00</td>
<td>$36.0K</td>
<td>699</td>
<td>1.6K</td>
</tr>
<tr>
<td>SNAP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$17.00</td>
<td>$94.5K</td>
<td>3.2K</td>
<td>1.4K</td>
</tr>
<tr>
<td>CDLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$12.50</td>
<td>$59.7K</td>
<td>658</td>
<td>219</td>
</tr>
<tr>
<td>DJT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$60.00</td>
<td>$33.3K</td>
<td>891</td>
<td>161</td>
</tr>
<tr>
<td>BILI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$17.00</td>
<td>$42.5K</td>
<td>1.3K</td>
<td>100</td>
</tr>
<tr>
<td>RBLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/14/24</td>
<td>$50.00</td>
<td>$26.3K</td>
<td>12</td>
<td>66</td>
</tr>
<tr>
<td>GOOGL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$210.00</td>
<td>$58.6K</td>
<td>0</td>
<td>54</td>
</tr>
<tr>
<td>TRIP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$23.00</td>
<td>$46.2K</td>
<td>401</td>
<td>46</td>
</tr>
<tr>
<td>GOOG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$155.00</td>
<td>$68.8K</td>
<td>3.6K</td>
<td>34</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding META (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), we observe a call option trade with bullish sentiment. It expires in 2 day(s) on May 10, 2024. Parties traded 100 contract(s) at a $475.00 strike. The total cost received by the writing party (or parties) was $31.8K, with a price of $318.0 per contract. There were 3431 open contracts at this strike prior to today, and today 27060 contract(s) were bought and sold. 
• Regarding CHTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), we observe a call option sweep with bearish sentiment. It expires in 9 day(s) on May 17, 2024. Parties traded 88 contract(s) at a $290.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $36.0K, with a price of $410.0 per contract. There were 699 open contracts at this strike prior to today, and today 1647 contract(s) were bought and sold. 
• For SNAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), we notice a put option trade that happens to be bearish, expiring in 100 day(s) on August 16, 2024. This event was a transfer of 428 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $94.5K, with a price of $221.0 per contract. There were 3227 open contracts at this strike prior to today, and today 1404 contract(s) were bought and sold. 
• Regarding CDLX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>), we observe a call option trade with bearish sentiment. It expires in 9 day(s) on May 17, 2024. Parties traded 199 contract(s) at a $12.50 strike. The total cost received by the writing party (or parties) was $59.7K, with a price of $300.0 per contract. There were 658 open contracts at this strike prior to today, and today 219 contract(s) were bought and sold. 
• For DJT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), we notice a put option trade that happens to be bullish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 12 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $33.3K, with a price of $2780.0 per contract. There were 891 open contracts at this strike prior to today, and today 161 contract(s) were bought and sold. 
• For BILI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), we notice a call option trade that happens to be bearish, expiring in 618 day(s) on January 16, 2026. This event was a transfer of 100 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $42.5K, with a price of $425.0 per contract. There were 1336 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• For RBLX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), we notice a call option sweep that happens to be bearish, expiring in 37 day(s) on June 14, 2024. This event was a transfer of 500 contract(s) at a $50.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.3K, with a price of $53.0 per contract. There were 12 open contracts at this strike prior to today, and today 66 contract(s) were bought and sold. 
• For GOOGL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), we notice a put option sweep that happens to be bearish, expiring in 317 day(s) on March 21, 2025. This event was a transfer of 14 contract(s) at a $210.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $58.6K, with a price of $4190.0 per contract. There were 0 open contracts at this strike prior to today, and today 54 contract(s) were bought and sold. 
• For TRIP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>), we notice a put option sweep that happens to be bullish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 100 contract(s) at a $23.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $46.2K, with a price of $462.0 per contract. There were 401 open contracts at this strike prior to today, and today 46 contract(s) were bought and sold. 
• For GOOG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), we notice a put option trade that happens to be bullish, expiring in 72 day(s) on July 19, 2024. This event was a transfer of 400 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $68.8K, with a price of $172.0 per contract. There were 3660 open contracts at this strike prior to today, and today 34 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

BILI

CDLX

CHTR

GOOG

GOOGL

RBLX

SNAP

10 Communication Services Stocks Whale Activity In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RIVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$10.00</td>
<td>$38.5K</td>
<td>24.3K</td>
<td>5.7K</td>
</tr>
<tr>
<td>VIPS</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$16.00</td>
<td>$180.0K</td>
<td>7.1K</td>
<td>3.0K</td>
</tr>
<tr>
<td>F</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/24/24</td>
<td>$12.50</td>
<td>$32.0K</td>
<td>3.3K</td>
<td>2.7K</td>
</tr>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$140.00</td>
<td>$25.7K</td>
<td>32.6K</td>
<td>2.5K</td>
</tr>
<tr>
<td>WWW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$12.50</td>
<td>$30.6K</td>
<td>3.0K</td>
<td>2.5K</td>
</tr>
<tr>
<td>AMZN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$160.00</td>
<td>$243.0K</td>
<td>4.2K</td>
<td>2.4K</td>
</tr>
<tr>
<td>W</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$60.00</td>
<td>$88.6K</td>
<td>4.3K</td>
<td>2.3K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.00</td>
<td>$33.2K</td>
<td>110.1K</td>
<td>1.9K</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$70.00</td>
<td>$34.8K</td>
<td>4.3K</td>
<td>1.6K</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$80.00</td>
<td>$35.5K</td>
<td>49.6K</td>
<td>985</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For RIVN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), we notice a call option sweep that happens to be bearish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 350 contract(s) at a $10.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $38.5K, with a price of $110.0 per contract. There were 24388 open contracts at this strike prior to today, and today 5718 contract(s) were bought and sold. 
• Regarding VIPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>), we observe a put option trade with neutral sentiment. It expires in 9 day(s) on May 17, 2024. Parties traded 3000 contract(s) at a $16.00 strike. The total cost received by the writing party (or parties) was $180.0K, with a price of $60.0 per contract. There were 7122 open contracts at this strike prior to today, and today 3000 contract(s) were bought and sold. 
• Regarding F (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), we observe a call option sweep with bearish sentiment. It expires in 16 day(s) on May 24, 2024. Parties traded 2000 contract(s) at a $12.50 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $32.0K, with a price of $16.0 per contract. There were 3399 open contracts at this strike prior to today, and today 2786 contract(s) were bought and sold. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a put option sweep that happens to be bullish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 234 contract(s) at a $140.00 strike. This particular put needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $110.0 per contract. There were 32627 open contracts at this strike prior to today, and today 2557 contract(s) were bought and sold. 
• For WWW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WWW#NYSE">WWW</a>), we notice a call option sweep that happens to be bearish, expiring in 9 day(s) on May 17, 2024. This event was a transfer of 500 contract(s) at a $12.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $30.6K, with a price of $60.0 per contract. There were 3013 open contracts at this strike prior to today, and today 2531 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a put option trade with bullish sentiment. It expires in 100 day(s) on August 16, 2024. Parties traded 1000 contract(s) at a $160.00 strike. The total cost received by the writing party (or parties) was $243.0K, with a price of $243.0 per contract. There were 4227 open contracts at this strike prior to today, and today 2429 contract(s) were bought and sold. 
• Regarding W (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), we observe a call option sweep with bearish sentiment. It expires in 135 day(s) on September 20, 2024. Parties traded 62 contract(s) at a $60.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $88.6K, with a price of $1430.0 per contract. There were 4322 open contracts at this strike prior to today, and today 2395 contract(s) were bought and sold. 
• For NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), we notice a call option sweep that happens to be bullish, expiring in 254 day(s) on January 17, 2025. This event was a transfer of 853 contract(s) at a $10.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $33.2K, with a price of $39.0 per contract. There were 110166 open contracts at this strike prior to today, and today 1939 contract(s) were bought and sold. 
• Regarding SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we observe a put option sweep with neutral sentiment. It expires in 254 day(s) on January 17, 2025. Parties traded 85 contract(s) at a $70.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $34.8K, with a price of $410.0 per contract. There were 4316 open contracts at this strike prior to today, and today 1663 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a call option trade that happens to be neutral, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 100 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $35.5K, with a price of $355.0 per contract. There were 49622 open contracts at this strike prior to today, and today 985 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

BABA

RIVN

SBUX

VIPS

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$900.00</td>
<td>$32.6K</td>
<td>8.4K</td>
<td>43.9K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$155.00</td>
<td>$59.5K</td>
<td>13.2K</td>
<td>30.3K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$120.00</td>
<td>$26.4K</td>
<td>5.8K</td>
<td>3.9K</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$22.00</td>
<td>$122.0K</td>
<td>5.4K</td>
<td>3.9K</td>
</tr>
<tr>
<td>MARA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$20.00</td>
<td>$44.8K</td>
<td>2.8K</td>
<td>3.4K</td>
</tr>
<tr>
<td>ARM</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/10/24</td>
<td>$110.00</td>
<td>$34.5K</td>
<td>3.3K</td>
<td>3.2K</td>
</tr>
<tr>
<td>AKAM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$105.00</td>
<td>$117.0K</td>
<td>531</td>
<td>2.5K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/10/24</td>
<td>$830.00</td>
<td>$36.5K</td>
<td>1.0K</td>
<td>2.4K</td>
</tr>
<tr>
<td>INTC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$25.00</td>
<td>$27.6K</td>
<td>3.0K</td>
<td>1.4K</td>
</tr>
<tr>
<td>WOLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$40.00</td>
<td>$53.0K</td>
<td>46</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option trade with bullish sentiment. It expires in 2 day(s) on May 10, 2024. Parties traded 25 contract(s) at a $900.00 strike. The total cost received by the writing party (or parties) was $32.6K, with a price of $1305.0 per contract. There were 8425 open contracts at this strike prior to today, and today 43973 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a call option sweep with bullish sentiment. It expires in 2 day(s) on May 10, 2024. Parties traded 500 contract(s) at a $155.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $59.5K, with a price of $119.0 per contract. There were 13245 open contracts at this strike prior to today, and today 30398 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option sweep that happens to be bearish, expiring in 2 day(s) on May 10, 2024. This event was a transfer of 300 contract(s) at a $120.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $88.0 per contract. There were 5836 open contracts at this strike prior to today, and today 3989 contract(s) were bought and sold. 
• Regarding PLTR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), we observe a call option sweep with bullish sentiment. It expires in 16 day(s) on May 24, 2024. Parties traded 2000 contract(s) at a $22.00 strike. This particular call needed to be split into 41 different trades to become filled. The total cost received by the writing party (or parties) was $122.0K, with a price of $61.0 per contract. There were 5442 open contracts at this strike prior to today, and today 3924 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a put option sweep with bullish sentiment. It expires in 2 day(s) on May 10, 2024. Parties traded 472 contract(s) at a $20.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $44.8K, with a price of $95.0 per contract. There were 2825 open contracts at this strike prior to today, and today 3475 contract(s) were bought and sold. 
• For ARM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), we notice a call option trade that happens to be neutral, expiring in 2 day(s) on May 10, 2024. This event was a transfer of 60 contract(s) at a $110.00 strike. The total cost received by the writing party (or parties) was $34.5K, with a price of $575.0 per contract. There were 3353 open contracts at this strike prior to today, and today 3277 contract(s) were bought and sold. 
• For AKAM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), we notice a call option trade that happens to be bullish, expiring in 44 day(s) on June 21, 2024. This event was a transfer of 249 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $117.0K, with a price of $470.0 per contract. There were 531 open contracts at this strike prior to today, and today 2564 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a call option sweep with neutral sentiment. It expires in 2 day(s) on May 10, 2024. Parties traded 25 contract(s) at a $830.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $36.5K, with a price of $1460.0 per contract. There were 1002 open contracts at this strike prior to today, and today 2412 contract(s) were bought and sold. 
• For INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we notice a put option sweep that happens to be bullish, expiring in 618 day(s) on January 16, 2026. This event was a transfer of 105 contract(s) at a $25.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $27.6K, with a price of $263.0 per contract. There were 3095 open contracts at this strike prior to today, and today 1461 contract(s) were bought and sold. 
• For WOLF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), we notice a call option trade that happens to be bullish, expiring in 317 day(s) on March 21, 2025. This event was a transfer of 171 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $53.0K, with a price of $310.0 per contract. There were 46 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AKAM

INTC

MARA

NVDA

PLTR

SMCI

WOLF

10 Information Technology Stocks Whale Activity In Today's Session

Compass Point analyst Casey Alexander downgrades Runway Gwth Fin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RWAY#NASDAQ">RWAY</a>) from Buy to Neutral and maintains $12.75 price target.

Downgrades

RWAY

Compass Point Downgrades Runway Gwth Fin to Neutral, Maintains $12.75 Price Target

Ardmore Shipping shares are trading higher after the company reported mixed Q1 financial results.

National Vision shares are trading lower after the company reported mixed Q1 financial results .

HSBC analyst Wesley Brooks maintains Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) with a Buy and lowers the price target from $16.8 to $15.9.

HSBC Maintains Buy on Goodyear Tire & Rubber, Lowers Price Target to $15.9

ATEC

Alphatec Holdings shares are trading lower following mixed Q1 earnings.

The ODP Corporation shares are trading lower after the company reported worse-than-expected Q1 financial results.

CIBC analyst Bryce Adams maintains Ero Copper (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ERO#TSX">ERO</a>) with a Neutral and raises the price target from C$28.5 to C$32.

TSX:ERO

CIBC Maintains Neutral on Ero Copper, Raises Price Target to C$32

Phoenix, Arizona's sunny weather and affordable housing had been attracting a lot of new residents. However, the city is now facing issues due to population growth and rising property prices. The rents and <a href="https://www.benzinga.com/real-estate/24/05/38674506/homeownership-hopes-plummet-renters-face-steeper-climb-amid-surging-costs-and-rates">property values</a> are increasing faster than the wages and this has led to eviction of many residents.
The Maricopa County Sheriff's Department, which executes eviction orders in Phoenix, is now handling up to 3,000 evictions per month. Sheriff Department Constables are encountering a different type of tenant evictions now.
Earlier they were evicting tenants who were down on their luck due to factors beyond their control, such as a layoff or injury. Today, they are evicting working people because their wages are growing a lot slower than rents and property values. Constable Lennie McCloskey has been enforcing eviction orders for nearly 19 years, and he tells the American Free Press that he's never been so busy. He is one of 26 Constables responsible for this difficult duty and he estimates that they're all doing "between 19 and 25 evictions every day."
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"I&#8217;ve seen guys that are working, trying to work two jobs to keep this going, or they have multiple families live in the house or the apartment&#8230; the wages don&#8217;t compensate the rent," said McCloskey. If McCloskey and his colleagues average 20 evictions per day, it means nearly 500 Maricopa County citizens are becoming homeless every day. That's 2,500/week and nearly 10,000 per month.
It's indeed a grim statistic, however, it is an inevitable result of fast population growth and a lack of affordable housing. The problem is especially serious in Phoenix because, for many years, it was one of the more affordable urban areas in the American West. While property prices and rents soared in places like San Francisco and Los Angeles, Phoenix stayed steady.
That's not the case anymore, and Phoenix has become the proverbial equivalent of a "secret" fishing hole that's not a secret anymore. It's only an hour from Los Angeles by airplane, and as more Angelenos found themselves priced out of California, Phoenix became one of their preferred destinations. Complicating that even further is the fact that many of the new arrivals could work remotely and earn Los Angeles wages while living in Phoenix.
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Glenn Farley works for an economic think tank called the Common Sense Institute summed up the problem in an interview with the AFP when he said, "Five years ago, Phoenix still had a reputation as being relatively affordable; rent was low, <a href="https://www.benzinga.com/real-estate/24/05/38582678/janet-yellen-says-its-almost-impossible-for-first-time-homebuyers-to-enter-housing-market">housing costs were low</a>. That has pretty much reversed more or less overnight."
He compared Phoenix's current situation to its 2019 housing market by saying, "Servicing a mortgage in 2019 was viable for someone working an average job for 40 hours a week. Today, in 2024 in the greater Phoenix area, you need to work about 68 hours. That&#8217;s more than 50 percent longer." Add that to what Farley estimates is a shortage of 65,000 homes and you get the perfect recipe for a housing crisis.
A housing crisis is an apt description of what Phoenix is experiencing right now. Property values are still going up, but every day, more Phoenix residents are being washed away by the rising tide. Ironically, that leaves one group of Phoenix professionals who are getting the workload increase they need to keep pace: the Constables like Lennie McCloskey who carry out the evictions.
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Real Estate

Rising Property Values Causing a Dramatic Spike in Evictions in this Sunbelt Destination

Guggenheim analyst Howard Ma maintains Confluent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) with a Buy and raises the price target from $35 to $37.

CFLT

Guggenheim Maintains Buy on Confluent, Raises Price Target to $37

While Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues to trade within a range, crypto traders DonAlt and Altcoin Sherpa have taken to X to share their thoughts on the cryptocurrency&#8217;s potential price action and the importance of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38706285/are-bitcoin-whales-buying-the-dip-with-less-enthusiasm">key support levels</a>.
What Happened: Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1788174053263446484">believes</a> that Bitcoin is likely to continue trading within its current range, stating, "I&#8217;m of the opinion that we&#8217;re still going to trade in this range and still be totally ok." However, he emphasizes the significance of the next low, suggesting that if the price breaks down to the range low of $59,000 again, Bitcoin could experience a violent drop to $50,000.
Meanwhile, DonAlt <a href="https://x.com/CryptoDonAlt/status/1788141634489627094">frames</a> the current market situation as a battle between a downtrend and a range reclaim. While he is currently on &#8220;team range reclaim,&#8221; he notes that the immediate retest of the range low is not a positive sign.
He warns that if Bitcoin starts losing the lows, "this will turn ugly fast," and advises traders to "be ready to parachute out if need be."
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Why It Matters: The insights shared by DonAlt and Altcoin Sherpa highlight the critical importance of key support levels in determining Bitcoin&#8217;s short-term price action.
DonAlt&#8217;s warning about a potential drop to $50,000 if the $59,000 range low is breached serves as a reminder of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38650333/bitcoin-could-still-have-a-correction-down-cautions-lark-davis-lets-not-get-ahead-of-ourse">volatility inherent in the crypto market</a> and the need for proper risk management.
Similarly, Altcoin Sherpa&#8217;s advice to be prepared to exit positions quickly if the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38640663/bitcoin-at-a-reversal-point-trader-sees-these-3-key-areas-of-interest">market turns against them</a> underscores the importance of having a well-defined trading plan and the discipline to stick to it.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

If Bitcoin Starts 'Losing The Lows' It Could Get 'Ugly' And 'Violent,' Traders Warn

CIBC analyst Hamir Patel maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Neutral and lowers the price target from $3.75 to $3.5.

BLDP

CIBC Maintains Neutral on Ballard Power Systems, Lowers Price Target to $3.5

Gilat Satellite Networks Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILT#NASDAQ">GILT</a>) reported fiscal first-quarter 2024 revenue growth of 29% year-on-year to $76.08 million, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38696007/gilat-reports-first-quarter-2024-results" rel="noreferrer noopener">analyst consensus estimate of $77.10 million</a>.&nbsp;
Adjusted EPS of $0.11 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.06</a>.
Adjusted operating income was $6.6 million versus $5.3 million a year ago. The GAAP operating income was $5.4 million, compared with $7.0 million Y/Y.
Gilat held $105.1 million in cash and equivalents as of March 31, 2024.
Adi Sfadia, Gilat&#8217;s CEO, commented: &#8220;Our revenue growth was driven by solid organic growth in both our Satellite Networks and our Network Infrastructure and Services segments, as well as a full quarter of contribution from Datapath, the defense communications business we acquired in November of last year.&nbsp;
FY24 Outlook:&nbsp;Gilat reiterated revenue of $305 million-$325 million versus a&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $315.20 million</a>.
The company&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37309898/gilat-satellite-networks-eyes-defense-sector-growth-after-datapath-acquisition-beats-q4-eps-estimat" rel="noreferrer noopener">maintained operating income</a>&nbsp;of $15 million&nbsp;– $19&nbsp;million and adjusted EBITDA of $40 million&nbsp;– $44&nbsp;million.
Price Action:&nbsp;GILT shares were down 0.89% to $5.54&nbsp;at last check&nbsp;Wednesday.

Earnings

Guidance

Tech

GILT

Gilat's Strategic Acquisitions Fuel Growth Amid Slight Revenue Shortfall

Guggenheim analyst Ronald Jewsikow maintains Aptiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) with a Buy and raises the price target from $92 to $94.

APTV

Guggenheim Maintains Buy on Aptiv, Raises Price Target to $94

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