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Shavo Odadjian, founder of cannabis brand 22Red and bassist for the heavy metal band System of a Down&nbsp;welcome&nbsp;the recent announcement from President Joe Biden that <a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps">marijuana will be rescheduled</a> from a Schedule I to a Schedule III drug under federal law. Odadjian, a long-time cannabis advocate and entrepreneur, shared his reaction in an exclusive statement to <a href="https://www.benzinga.com/cannabis">Benzinga Cannabis</a>, emphasizing the positive implications for both the industry and consumers.
&quot;It&#39;s a thrill to see the US government making real changes in how cannabis is treated. I&#39;ve been in the business for years and a consumer for decades,&quot; Odadjian said. He highlighted the broader benefits of this reclassification, noting, &quot;Going from Schedule I to Schedule III will benefit not just those of us who are trying to share the plant in its peak form, but for consumers who want options, quality, and greater ease in getting their hands on it in general.&quot;
The Biden administration&#39;s move marks a significant shift in federal cannabis policy. The Justice Department will&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/05/38893172/attorney-general-merrick-garland-initiates-process-to-reschedule-cannabis-with-doj-legal-review-">post proposed rules</a> to this effect in the Federal Register, initiating a 60-day public comment period. This action is seen as a step toward rectifying long-standing inequities and dismantling barriers that have hindered the cannabis industry.
Odadjian, who has built a successful cannabis brand with 22Red, views this development as a critical milestone. &quot;We still have a long way to go, especially from a justice standpoint from the war on drugs, but this is a huge milestone,&quot; he said. His sentiment echoes the relief and optimism expressed by many in the industry who have faced stringent regulations and limited business opportunities under the current federal scheduling.
Cannabis companies and legalization advocates have lauded President Biden&#39;s decision. David Klein, CEO of Canopy Growth (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NYSE">CGC</a>), described the change as a major leap forward, emphasizing its potential to correct historical injustices and foster industry growth. Similarly, Kim Rivers, CEO of Trulieve (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>), celebrated the move as historic, underscoring its importance for federal cannabis reform.
The rescheduling is expected to have significant economic impacts, particularly in <a href="https://www.benzinga.com/markets/cannabis/24/05/38885460/finally-tax-refunds-these-cannabis-companies-will-get-the-most-money-back-if-rescheduling-happen">terms of taxation</a>. With cannabis moving to Schedule III, businesses will no longer be subjected to the onerous 280E tax code, which has prevented them from deducting normal business expenses. David Hart, CEO of The Cannabist Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cbstf#OTC">CBSTF</a>), highlighted this benefit, noting that it would enable more sustainable operations and greater reinvestment in innovation and community support.
As the cannabis industry looks forward to a more favorable regulatory environment, Odadjian&#39;s reaction encapsulates the cautious optimism felt by many. The journey toward full legalization and comprehensive justice reform continues, but the rescheduling of marijuana marks a pivotal step in that direction.
Photo courtesy of 22Red.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

TCNNF

EXCLUSIVE - System Of A Down's Shavo On Cannabis Rescheduling: 'Still A Long Way To Go But It's A Huge Milestone'

DA Davidson analyst Brent Thielman maintains Arcosa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACA#NYSE">ACA</a>) with a Buy and raises the price target from $105 to $110.

Price Target

Analyst Ratings

DA Davidson Maintains Buy on Arcosa, Raises Price Target to $110

HC Wainwright &amp; Co. analyst Yi Chen maintains Kala Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KALA#NASDAQ">KALA</a>) with a Buy and lowers the price target from $21 to $18.

KALA

HC Wainwright & Co. Maintains Buy on Kala Bio, Lowers Price Target to $18

BJ's Wholesale Club's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) short percent of float has risen 39.33% since its last report. The company recently reported that it has 12.32 million shares sold short, which is 12.01% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.37 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>BJ's Wholesale Club Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715957120_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for BJ's Wholesale Club has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing BJ's Wholesale Club'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>, BJ's Wholesale Club's peer group average for short interest as a percentage of float is 2.48%, 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.

Short Sellers

(BJ) - Analyzing BJ's Wholesale Club's Short Interest

GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) <a href="https://otp.tools.investis.com/clients/us/gsk/SEC/sec-show.aspx?FilingId=17550968&amp;Cik=0001131399&amp;Type=PDF&amp;hasPdf=1" target="_blank" rel="noreferrer noopener">confirmed</a> the sale of 385.3 million shares in Haleon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLN#NYSE">HLN</a>) for $1.58 billion. 
The shares represented around 4.2% of the issued&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36658404/gsk-cuts-more-stake-in-its-spun-off-consumer-healthcare-business-haleon-raises-over-900m" rel="noreferrer noopener">share capital of Haleon</a>.
Following the settlement of the placing, GSK will have fully exited its position and will no longer hold any ordinary shares in Haleon. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38498637/colgate-palmolive-has-strong-brand-building-and-analytics-driven-marketing-strategy">Colgate-Palmolive Has Strong Brand-Building And Analytics-Driven Marketing Strategy, Says Analyst</a>
Following the demerger and premium listing of Haleon in July 2022, GSK initially retained a 12.94%&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/22/07/28096489/gsk-complete-spin-off-of-of-its-consumer-healthcare-business" rel="noreferrer noopener">stake in Haleon</a>.&nbsp;
As a result of the disposals, GSK has sold 1.19 billion shares in Haleon for cumulative gross proceeds.
In October, GSK raised $1.1 billion, or £885.6 million, by selling some of its shares in Haleon, reducing its stake in the consumer healthcare <a href="https://www.benzinga.com/news/large-cap/23/10/35124638/gsk-cuts-stake-in-consumer-healthcare-business-haleon-raises-around-1b" target="_blank" rel="noreferrer noopener">business to around 7.4%</a>.
In May, GSK sold 240 million shares of Haleon&nbsp;in a move that has raised&nbsp;804 million pounds for the firm.&nbsp;The offloaded shares are equivalent to up to 2.5% of Haleon's&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/05/32360529/gsk-trims-stake-on-consumer-business-spin-off-raises-804m" rel="noreferrer noopener">issued share capital</a>.
In March,&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) announced plans to reduce its stake in Haleon to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/03/37791426/pfizer-to-cut-stake-in-sensodyne-toothpaste-maker-haleon-potentially-worth-2b" rel="noreferrer noopener">approximately 24%</a>.
Price Action: HLN shares are up 0.60% at $8.41 during the premarket session at last check Friday.
Now Read: <a href="https://www.benzinga.com/insights/news/24/05/38875936/insider-activity-spotlight-martin-harris-acquires-in-colgate-palmolive-stock-options">Insider Activity Spotlight: Martin Harris Acquires In Colgate-Palmolive Stock Options</a>
Image: Wikimedia

Biotech

Large Cap

Health Care

GSK Completely Exits Sensodyne Toothpaste Maker Haleon In $1.6B Sale

Indonesia Energy Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INDO#NYSE">INDO</a>) short percent of float has risen 557.65% since its last report. The company recently reported that it has 266 thousand shares sold short, which is 5.59% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 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>Indonesia Energy Corp Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715957115_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Indonesia Energy Corp has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Indonesia Energy Corp'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>, Indonesia Energy Corp's peer group average for short interest as a percentage of float is 1.83%, 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.

INDO

(INDO) - Analyzing Indonesia Energy Corp's Short Interest

Dynatrace's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DT#NYSE">DT</a>) short percent of float has fallen 16.72% since its last report. The company recently reported that it has 6.09 million shares sold short, which is 2.49% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.07 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>Dynatrace Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715957110_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Dynatrace 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 Dynatrace'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>, Dynatrace's peer group average for short interest as a percentage of float is 3.69%, 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.

Looking Into Dynatrace's Recent Short Interest

General Motors&nbsp;Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)&nbsp;and&nbsp;South Korea&#8217;s&nbsp;LG Energy Solution&nbsp;along with&nbsp;LG Electronics&nbsp;have reportedly agreed to establish a $150 million fund to support Chevrolet Bolt EV owners impacted by faulty batteries.
This&nbsp;settlement, detailed in documents filed in a U.S. court, aims to provide financial relief to affected vehicle owners, Reuters reported.
The Chevrolet Bolt EV, which&nbsp;debuted in 2015,&nbsp;utilized&nbsp;batteries supplied by LG as part of a&nbsp;collaboration with GM.&nbsp;
However,&nbsp;starting in 2020,&nbsp;GM began recalling these vehicles following multiple reports of battery fires, the report noted.
The settlement resolves class action litigation linked to these recalls,&nbsp;offering compensation to&nbsp;owners who experienced battery replacements or installed advanced diagnostic software.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/05/38869518/gms-president-just-wants-a-level-playing-field-against-chinese-ev-companies-as-legacy-automaker-laun" rel="noreferrer noopener">GM&#8217;s President Just Wants &#8216;A Level Playing Field&#8217; Against Chinese EV Companies As Legacy Automaker Launches Tesla Model Y Challenger</a>
GM stated that owners who had a battery replacement or installed the latest diagnostic software at authorized dealerships before December 31, 2023, may be eligible for compensation.&nbsp;
Those who met these conditions could receive up to $1,400. Furthermore, owners who sold or ended their lease&nbsp;prior to&nbsp;the availability of the software solution and those who already had battery replacements are guaranteed a minimum of $700.
In 2021, GM announced an extensive recall campaign costing billions,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36358321/gm-recalls-nearly-7-000-chevrolet-bolt-evs-after-halting-production" rel="noreferrer noopener">addressing&nbsp;the fire risks associated with Bolt EV batteries.&nbsp;</a>
Price Action: GM shares traded lower by 0.11% at $45.12&nbsp;at the last check Friday.
Disclaimer: This content was partially produced&nbsp;with the help of&nbsp;AI tools and&nbsp;was&nbsp;reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/government/24/05/38818987/alphabets-autonomous-vehicle-waymo-faces-scrutiny-over-traffic-violations" target="_blank" rel="noreferrer noopener">Alphabet&#8217;s Autonomous Vehicle Unit Waymo Faces Scrutiny Over Traffic Violations</a>
Photo by Jonathan Weiss on Shutterstock

Equities

Media

General Motors, LG Establish $150M Settlement Fund For Bolt EV Battery Issues: Report

Canaccord Genuity analyst Richard Close maintains Quipt Home Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QIPT#NASDAQ">QIPT</a>) with a Buy and lowers the price target from $9 to $8.

QIPT

Canaccord Genuity Maintains Buy on Quipt Home Medical, Lowers Price Target to $8

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth reiterates Edap TMS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDAP#NASDAQ">EDAP</a>) with a Buy and maintains $19 price target.

Reiteration

EDAP

HC Wainwright & Co. Reiterates Buy on Edap TMS, Maintains $19 Price Target

TikTok&nbsp;confirmed testing the ability for users to upload 60-minute videos. This feature is currently available to select users in specific markets, and there are no immediate plans for a broader rollout.&nbsp;
Initially recognized for 15-second videos at launch, TikTok has gradually increased its video length limits, adapting to the demand for longer formats such as cooking demonstrations, beauty tutorials, and educational content, TechCrunch&nbsp;<a target="_blank" href="https://techcrunch.com/2024/05/16/tiktok-upload-60-minute-videos/'" rel="noreferrer noopener">reports</a>.
This extension offers creators more versatility in their content, challenging platforms like&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) YouTube by encouraging creators to post longer videos on TikTok.&nbsp;
Moreover, this could pave the way for uploading full TV show episodes directly rather than in segments.&nbsp;
Networks might leverage this extended format to debut show episodes on TikTok, similar to strategies employed on YouTube.&nbsp;
TikTok also enhances the user experience for longer videos by testing features like horizontal full-screen viewing and video-scrubbing thumbnails.&nbsp;
Recently,&nbsp;Amazon.com, Inc's&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;Twitch&nbsp;launched a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38541148/amazons-twitch-launches-short-form-video-platform-to-challenge-tiktok-as-chinese-platforms-future-re" rel="noreferrer noopener">short-form video platform</a>,&nbsp;Discovery Feed,&nbsp;that lets users browse through short clips extracted from longer videos.
TikTok is actively working to maintain its presence in the U.S. after President Joe Biden signed legislation that gives TikTok parent&nbsp;ByteDance&nbsp;nine months, with an option to extend for another 90 days, to either divest the app or face a nationwide ban.
<a target="_blank" href="https://www.benzinga.com/news/24/03/37981584/linkedin-enters-short-form-video-battle-with-new-tiktok-style-feed-targets-professional-growth-conte" rel="noreferrer noopener">Reports also indicated</a>&nbsp;that Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;LinkedIn&nbsp;is testing TikTok-style short-form video feeds focusing on career content.
Reportedly,&nbsp;Uber Technologies, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) Uber Eats plans to launch a&nbsp;TikTok-style&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38163482/uber-eats-embraces-tiktok-wave-with-new-short-form-video-discovery-tool" rel="noreferrer noopener">short-form video feature</a>&nbsp;to improve food discovery.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
TikTok Photo by Mehaniq on Shutterstock

Tech

AMZN

GOOG

GOOGL

MSFT

UBER

TikTok Wants To Compete With YouTube, Trials Longer Videos for Full TV Episodes on the Platform

HC Wainwright &amp; Co. analyst Andrew Fein reiterates Arvinas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) with a Buy and maintains $87 price target.

ARVN

HC Wainwright & Co. Reiterates Buy on Arvinas, Maintains $87 Price Target

Canaccord Genuity analyst Joseph Vafi maintains Globant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>) with a Hold and lowers the price target from $230 to $175.

GLOB

Canaccord Genuity Maintains Hold on Globant, Lowers Price Target to $175

Xi Jinping&#8217;s government has introduced its most aggressive measures to date to rescue <a href="https://www.benzinga.com/topic/china">China&#8217;s struggling property market. </a>
On Thursday, Beijing announced a new plan that included easing mortgage regulations and urged local governments to purchase unsold homes, reflecting the authorities&#8217; heightened concern over the sector&#8217;s impact on economic growth.
The support package comprised several key components designed to revitalize the housing market. First-time homebuyers will benefit from reduced down-payment requirements of 15%, while second-home purchases require only 25%. Additionally, the central bank is providing 300 billion yuan ($42 billion) in funding to help government-backed firms acquire surplus inventory from developers, which will then be converted into affordable housing.
China&#8217;s finance ministry conducted the auction for the first batch of its special treasury bonds on Friday, marking the beginning of a long-anticipated stimulus program.
Zhu Ning, professor of finance at the Shanghai Advanced Institute of Finance, was interviewed by <a href="https://www.bloomberg.com/news/articles/2024-05-17/china-removes-mortgage-rate-floor-for-individual-homebuyers-lwa88d1y?srnd=homepage-americas&amp;sref=TBDibEcD">Bloomberg TV</a> and said the current measures were somewhat similar to the bailout of financial institutions during the Great Financial Crisis. He noted that without direct intervention and credit extension by the central government to the real estate market, it was too soon to consider the crisis resolved.
In related news, recent data revealed China&#8217;s industrial production expanded by 6.7% year-on-year in April 2024, surpassing market forecasts of 5.5% and accelerating from a 4.5% increase in the previous month. Despite sluggish retail sales, which marked the weakest growth since July 2023, China&#8217;s unemployment rate fell to 5.0% in April 2024. This was the lowest rate since November 2023 and better than both the previous month&#8217;s and market estimates of 5.2%.
<h1 class="wp-block-heading">Chinese Stocks And Proxies Rally</h1>
Stocks and commodities tied to China rallied to the news, reflecting investors upbeat sentiment following the government measures.
The onshore Shanghai Composite Index rose by 1% to close at 3,154, while the Shenzhen Component Index gained 1.1% to 9,709.
Struggling real estate developers saw significant gains, with Greenland Holdings, Poly Real Estate and China Fortune rising by over 10% in a single day.
The Hang Seng Index climbed by 0.91%, reaching its highest level in nine and a half months. Leading the charge were property developer Country Garden Services Holdings and Ping An Insurance, which rose by 9% and 5%, respectively.
Chinese American Depository Receipts (ADR) also edged slightly higher at the U.S. market open on Friday.
Alibaba Group Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and PDD Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NYSE">PDD</a>) rose 0.5% and 0.9%, respectively. 
On Thursday, the KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>), which offers exposure to Chinese tech stocks, rose 2.7%, reaching the highest level since February 2023. 
Copper, one of the commodities most sensitive to the Chinese economy, surged by nearly 3% to $5 per pound, marking its strongest session since early April and reaching fresh all-time highs. 
<h1 class="wp-block-heading">Chart: Copper Hits $5 Per Pound, Sets New Record Highs</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17095546/image-74-1024x495.png" alt="" class="wp-image-343662" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17095546/image-74-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17095546/image-74-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17095546/image-74-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17095546/image-74-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17095546/image-74.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Now: <a href="https://www.benzinga.com/markets/asia/24/05/38878116/big-short-investor-michael-burry-bets-heavy-on-gold-renewable-energy-stocks-exits-amazon-alphabet">&#8216;Big Short&#8217; Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet</a>
This image was created using artificial intelligence MidJourney.

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

China Goes All In As Beijing Vows To Buy Unsold Properties: Chinese Stocks Rally, Copper Hits All-Time Highs

Canaccord Genuity analyst Susan Anderson initiates coverage on Beachbody Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BODI#NYSE">BODI</a>) with a Buy rating and announces Price Target of $13.

Initiation

The Beachbody Company, Inc. Class A Common Stock

BODI

Canaccord Genuity Initiates Coverage On Beachbody Co with Buy Rating, Announces Price Target of $13

Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) is set to release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/WIX/earnings">opening bell on Monday</a>.
Analysts expect the Tel Aviv, Israel-based company to report quarterly earnings at $1.03 per share, up from 91 cents per share in the year-ago period. Wix.com is expected to post revenue of $417.84 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Wix.com recently announced the launch of the AI Portfolio Creator, which enhances how users create and showcase an online professional portfolio.
Wix.com shares slipped 1.6% to close at $135.21 on Thursday.
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's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/WIX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Benchmark analyst Mark Zgutowicz reiterated a Buy rating with a price target of $175 on May 15. This analyst has an accuracy rate of 66%.</li>
<li>JMP Securities analyst Andrew Boone reiterated a Market Outperform rating with a price target of $150 on April 30. This analyst has an accuracy rate of 73%.</li>
<li>Raymond James analyst Josh Beck reinstated an Outperform rating with a price target of $160 on March 27. This analyst has an accuracy rate of 74%.</li>
<li>RBC Capital analyst Brad Erickson maintained an Outperform rating and boosted the price target from $135 to $160 on Feb. 22. This analyst has an accuracy rate of 69%.</li>
<li>Piper Sandler analyst Clarke Jeffries maintained an Overweight rating and increased the price target from $146 to $165 on Feb. 22. This analyst has an accuracy rate of 61%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38872349/over-1m-bet-on-this-healthcare-stock-check-out-these-3-stocks-insiders-are-buying">Over $1M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying</a>

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Wix.com Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Treasury Official Says Yellen Will Talk To European Banks, G7 Colleagues About Ways To Cut Off Financing From Russia, Tighten Sanctions; G7 Countries Are 'Making Progress' Towards Consensus On Russian Assets Plan To Provide More Money To Ukraine; Yellen To Deliver Remarks In Frankfurt On Importance Of Transatlantic Alliance, Including Disrupting Russia's War Machine, Developing Clean Energy

Treasury Official Says Yellen Hopes G7 Finance Officials Can Reach Consensus On A Plan For Russian Assets To Advise G7 Leaders For Summit In June;  Yellen Will Discuss At G7 Meeting The Need To Tackle China's Excess Industrial Capacity In Key Sectors And New U.S. Tariffs On EVs, Solar, Semiconductors

U.S. Treasury Says Yellen To Travel To G7 Finance Meeting In Italy Next Week With A Stop In Frankfurt, Germany; Will Discuss At G7 Meeting Proposals To Bring Forward Future Proceeds From Frozen Russian Assets To Give More Money To Ukraine More Quickly

ProShares Merger ETF declares quarterly distribution of $0.1166

ProShares Merger ETF declares quarterly distribution of $0.1048

ProShares Merger ETF declares quarterly distribution of $0.5777

How ETF Investors Can Take Advantage Of Deal Activity

ProShares Merger ETF declares quarterly distribution of $0.0863

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