NewLake Capital Partners Stock (OTC: NLCP)

NewLake Capital Partners Stock (OTC:NLCP), Trade Ideas

NewLake Capital Partners Inc is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases, and funding for build-to-suit projects. They own a geographically diversified portfolio consisting of thirty one properties across twelve states with thirteen tenants, comprised of seventeen dispensaries and fourteen cultivation facilities.

cannabis money (Hvoenok and GOR Photo on Shutterstock)(22)

Cannabis

Earnings

News

REIT

NLCP

Explore NewLake Capital&#39;s Q1 earnings surge! Discover key financial highlights, operational moves and CEO&#39;s insights in the cannabis industry.

Cannabis REIT NewLake&#39;s Q1 2024 Revenue Grows 10.4% Hitting $12.6M, CEO Is Optimistic About Possible Marijuana Rescheduling

cannabis deals (Pixabay)(4)

Cannabis REIT NewLake Invests $16M In Connecticut Marijuana Cultivation Facility, Expands Partnership With Michigan&#39;s C3 Industries

reit shutter

Real Estate

EQIX

4 REITs That Have Beaten The Latest Correction

NEWLAKE CAP PARTNERS INC by NewLake Capital Partners, Inc.

NewLake Capital Partners Inc

PACS Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PACS#NYSE">PACS</a>) reported quarterly earnings of $0.38 per share which beat the analyst consensus estimate of $0.30 by 26.67 percent. This is a 31.03 percent increase over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $934.72 million which beat the analyst consensus estimate of $892.97 million by 4.68 percent. This is a 31.94 percent increase over sales of $708.44 million the same period last year.

PACS

PACS Group Q1 EPS $0.38 Beats $0.30 Estimate, Sales $934.72M Beat $892.97M Estimate

Gold Royalty (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GROY#AMEX">GROY</a>) reported quarterly losses of $(0.01) per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported $2.89 million in sales this quarter. This is a 277.31 percent increase over sales of $767.00 thousand the same period last year.

GROY

Gold Royalty Q1 EPS $(0.01), Inline, Sales $2.89M Up From $767.00K YoY

Gryphon Digital Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) reported quarterly losses of $(0.36) per share. This is a 28.57 percent decrease over losses of $(0.28) per share from the same period last year. The company reported $7.49 million in sales this quarter. This is a 47.56 percent increase over sales of $5.08 million the same period last year.

GRYP

Gryphon Digital Mining Q1 EPS $(0.36) Down From $(0.28) YoY, Sales $7.49M Up From $5.08M YoY

While the much-touted Dencun Upgrade reduced the cost of using Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 solutions, it also rendered Ethereum inflationary, raising concerns about its price impact.&nbsp;
What Happened: Ethereum's total supply surged to its highest level in more than two months, according to Julio Moreno, Head of Research at analytics firm CryptoQuant. He attributed the steady increase <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37667987/ethereum-dencun-upgrade-drops-layer-2-fees-by-99">to the Dencun Upgrade</a>, which was executed in mid-March.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Ethereum supply growth continues to accelerate and total supply is now at the highest level since March 6. The Dencun upgrade had the effect of lowering transactions fees, but also made ETH inflationary again. EHT will need 3x-4x more network activity to be deflationary again. <a href="https://t.co/9gK9Xepodk">pic.twitter.com/9gK9Xepodk</a>
&mdash; Julio Moreno (@jjcmoreno) <a href="https://twitter.com/jjcmoreno/status/1790033161214136681?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"The Dencun upgrade had the effect of lowering transaction fees, but also made ETH inflationary again," Moreno stated. "ETH will need 3x-4x more network activity to be deflationary again."
The technical update resulted in a sharp drop in fees charged on Ethereum scaling solutions, including Arbitrum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ARB</a>) and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>).&nbsp;
However, because Ethereum and its Layer-2 solutions burn a portion of transaction fees, the upgrade resulted in a significant reduction in Ethereum burned, which is the supply that gets permanently removed from circulation.
Why It Matters: &nbsp;As per the fundamentals of scarcity economics, a steady drop in the supply of an asset could lead to its value appreciation, provided demand catches up.&nbsp;
Much of the cryptocurrency market, including bellwether Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), has aggressively marketed its deflationary character to attract investors from mainstream markets.
Ethereum, too, has broadly remained deflationary in recent years, witnessing a 0.205 drop in supply since The Merge, <a href="https://ultrasound.money/">according </a>to ultra sound money.
However, the Dencun Upgrade has slowed down the deflation rate, with a 0.584% increase over the past 30 days.&nbsp;
The supply increase could concern Ethereum investors as they look for bullish catalysts in a market that has slackened over the past month or so.
Price Action: At the time of writing, Ethereum was trading at $2,933.43, following a 0.25% gain in the last 24 hours, according to <a href="https://pro.benzinga.com/">data from Benzinga Pro</a>. The second-largest cryptocurrency was down nearly 6% over the month.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38806925/pepe-becomes-hot-commodity-on-roaring-kitty-phenomenon-analyst-says-the-coin-should-be-on-">Pepe Becomes Hot Commodity on &#8216;Roaring Kitty&#8217; Phenomenon: Analyst Says The Coin Should Be On Your Radar</a>

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

Cryptocurrency

Markets

$ARB

$BTC

$ETH

$MATIC

The Dencun Dilemma: Can Lower Fees Derail Ethereum's Deflationary Ambitions And Dampen Prospects Of A Price Surge?

Guidance

ZENV

Zenvia 2024 Guidance: Expects Revenue OF BRL$930M-BRL$970M, Adjusted Gross Margin Of 42%-45%, And Normalized EBITDA OF BRL$120M-BRL$140M

Zenvia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) reported quarterly sales of BRL 217.014 million which missed the analyst consensus estimate of BRL 237.260 million by 8.53 percent. This is a 24.09 percent increase over sales of BRL 174.886 million the same period last year.

Earnings Misses

Zenvia Q4 Sales BRL 217.014M Miss BRL 237.260M Estimate, Normalized EBITDA BRL 29.5M Up From BRL 23M YoY

Mark Zuckerberg, the CEO of&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), is reportedly set&nbsp;to celebrate his 40th birthday on his new superyacht, Launchpad, in Panama.
What Happened: The 118-meter yacht, built by Dutch shipyard Feadship, has been the subject of speculation in the yachting world for months, with many believing Zuckerberg to be the owner,&nbsp;<a href="https://www.businessinsider.com/mark-zuckerberg-may-celebrate-40th-birthday-brand-new-superyacht-launchpad-2024-5?IR=T">reported</a>&nbsp;Business Insider.
Launchpad, which&nbsp;arrived in Panama on Monday,&nbsp;has been predominantly moored in Fort Lauderdale, Florida, since its&nbsp;maiden voyage across the Atlantic&nbsp;in March. According to a private jet tracker, Zuckerberg&#8217;s plane also touched down in Panama on Monday, and judging by his Instagram activity, it appears he was on board.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38789719/beating-us-sanctions-chinese-scientists-achieve-mass-production-of-optical-chips-at-low-cost?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Beating US Sanctions, Chinese Scientists Achieve Mass Production Of Optical Chips At Low Cost</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14015819/Screenshot-2024-05-14-at-11.28.07%E2%80%AFAM-1024x867.png" alt="" class="wp-image-336268" /></figure>
Connecting the dots, considering various clues tying Zuckerberg to the yacht, it seems reasonable to conclude that the Meta CEO is probably starting his new decade aboard his newly acquired vessel, the report noted. 
Little is known about the&nbsp;luxury yacht, initially&nbsp;built for a sanctioned Russian&nbsp;businessman before being&nbsp;handed over to the Dutch&nbsp;government. The&nbsp;final purchase price is unknown,&nbsp;but it is estimated to be in the&nbsp;nine figures upfront and six&nbsp;figures annually for maintenance.
Launchpad is believed to have a helipad, a swimming pool on the main deck, and facilities such as a gym, spa, movie room, and a garage for his hydrofoil.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="598" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-1024x598.jpeg" alt="" class="wp-image-336279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-1024x598.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-300x175.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-768x449.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large-1536x897.jpeg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/14020315/extra-large.jpeg 1621w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image credit: Ruben Griffioen / SuperYacht Times</figcaption></figure>
Why It Matters: Zuckerberg&#8217;s birthday celebration on a superyacht comes after a period of transformation for the tech mogul. In an interview with Forbes in September 2023, <a href="https://www.benzinga.com/news/23/09/34949713/from-evil-mark-to-great-philanthropist-meta-ceo-zuckerberg-opts-for-a-bill-gates-style-metamorphosis">Zuckerberg expressed his desire to follow</a> in the footsteps of Microsoft co-founder&nbsp;Bill Gates, aiming to mature personally and professionally.
Meanwhile, Zuckerberg&#8217;s net worth has also continued to soar. Last year, his net worth&nbsp;<a href="https://www.benzinga.com/general/24/05/38643768/mark-zuckerbergs-net-worth-grew-by-84-billion-in-2023-but-his-salary-was-just-1">increased by $84 billion</a>, making him the fourth-richest person in the world.
According to the Bloomberg Billionaire Index, Zuckerberg&#8217;s total net worth at the moment is $167 billion.
Photo courtesy: Brian Solis via Flickr
Check out more of&nbsp;Benzinga's&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38779672/whats-new-in-consumer-tech-world-last-week-news-that-you-should-know-may-5-may-11-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s New In Consumer Tech World Last Week? News That You Should Know (May 5-May 11, 2024)</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Tech

Media

Mark Zuckerberg Turns 40 In Style As Meta CEO Reportedly Celebrates Birthday Party On $300M Superyacht In Panama

Belite Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLTE#NASDAQ">BLTE</a>) reported quarterly losses of $(0.27) per share which beat the analyst consensus estimate of $(0.28) by 3.57 percent. This is a 18.18 percent increase over losses of $(0.33) per share from the same period last year.
As of March 31, 2024, the Company had $95.5 million in cash and U.S treasury bills.

Earnings Beats

BLTE

Belite Bio Q1 2024 GAAP EPS $(0.27) Beats $(0.28) Estimate

<ul>
<li>First preclinical data set for IPH45, a pre-IND anti-Nectin-4 Antibody Drug Conjugate, presented as an oral presentation at AACR 2024</li>
<li>Progression of Sanofi-developed NK Cell Engager SAR443579/IPH6101 to Phase 2 in blood cancers</li>
<li>Five ASCO Annual Meeting 2024 abstracts:
<ul>
<li>Final TELLOMAK Phase 2 data for lacutamab in Mycosis Fungoides</li>
<li>Two posters on IPH6501, Innate&#39;s second generation ANKET&reg;&nbsp;in B‑cell Non-Hodgkin&#39;s Lymphoma</li>
<li>AstraZeneca to present poster on updated results for monalizumab from Phase 2 stage III unresectable NSCLC trial</li>
<li>Monalizumab SCLC Phase 2 MOZART trial poster</li>
</ul>
</li>
<li>Cash position of &euro;113.9 million1&nbsp;as of March 31, 2024 (not including the &euro;4.0 million payment to be received from Sanofi), anticipated cash runway into end 2025</li>
</ul>

IPHA

Innate Pharma Reported Q1 Revenue Of €6.6M Down From €26M YoY; Cash Position Of €113.9M

The global supply of high-performance memory chips is expected to remain constrained throughout 2024, driven by the soaring demand for artificial intelligence technology.
What Happened: The supply of high-end memory chips is projected to remain tight due to the exponential demand for AI technology, as per a CNBC <a href="https://www.cnbc.com/2024/05/14/ai-boom-to-keep-supply-of-high-end-memory-chips-tight-through-2024.html">report</a> on Tuesday. This is likely to affect the supply of these chips for the rest of 2024 and well into 2025.
Leading memory chip suppliers, including SK Hynix and Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), are already facing a shortage of high-bandwidth memory chips for 2024, with the stock for 2025 also nearly depleted.
″We expect the general memory supply to remain tight throughout 2024," Kazunori Ito, director of equity research at Morningstar said in a report.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38777196/amid-nvidia-craze-jim-cramer-sees-a-chip-stock-not-on-anyones-radar-about-to-break-out-heres-wha?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Nvidia Craze, Jim Cramer Sees A Chip Stock &#8216;Not On Anyone&#8217;s Radar&#8217; About To Break Out: Here&#8217;s What He Said</a>
The demand for AI chipsets has significantly boosted the high-end memory chip market, benefiting major players such as Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and SK Hynix, the top two memory chipmakers globally.
"The manufacturing of these chips are more complex and ramping up production has been difficult. This likely sets up shortages through the rest of 2024 and through much of 2025," said William Bailey, director at Nasdaq IR Intelligence.
 Chip manufacturers are competing intensely to produce cutting-edge memory chips to capitalize on the AI surge.
In a recent press conference, SK Hynix announced its initiation of mass production for the latest HBM chips, the 12-layer HBM3E, starting in the third quarter. Samsung Electronics, on the other hand, plans to commence mass production in the second quarter, having already shipped samples of this advanced chip, marking an industry-first achievement.
"Currently Samsung is ahead in 12-layer HBM3E sampling process. If they can get qualification earlier than its peers, I assume it can get majority shares in end-2024 and 2025," said SK Kim, executive director and analyst at Daiwa Securities.
Why It Matters: The global race to control chip supply is intensifying, with China recently <a href="https://www.benzinga.com/markets/asia/24/05/38800273/chinas-semiconductor-spending-tops-us-with-142b-commitment-global-chip-race-heats-up">overtaking the U.S.</a> in semiconductor spending. This has become a key focus for Western governments in their efforts to compete with China in the industry.
Additionally, the U.S. and China are set to discuss the potential risks of advanced AI in <a href="https://www.benzinga.com/news/24/05/38783544/us-china-to-discuss-ai-risks-in-geneva-will-washingtons-policies-be-up-for-negotiation">upcoming talks in Geneva</a>. The talks will explore ways to mitigate the potential dangers of this emerging technology, which is driving the demand for high-end memory chips.
Meanwhile, NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expected to continue delivering <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38798378/hsbc-analyst-sees-nvidia-stock-climbing-another-50-on-strong-pricing-power-ai-roadm">strong pricing power</a> and upside surprises through fiscal-year 2026, according to HSBC Global Research. This is likely to further fuel the demand for high-end memory chips.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K Level If It Reclaims This Crucial Support</a>
Image Via Shutterstock 
<hr class="wp-block-separator has-alpha-channel-opacity" />
Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

Global

NVDA

SSNLF

High-Performance Memory Chip Supply To Stay Tight In 2024 Amid Surging AI Demand, Major Manufacturers Face Shortages

Sony Group Corporation American Depositary Shares

SONY

Sony Group Provides Fiscal 2024 Outlook: Expects Sales Of ¥12.31T ($84.89B); Operating Margin Of 10.4%, And Adjusted EBITDA Of ¥1.93T ($13.31B)

Macro Economic Events

Econ #s

Economics

INDA

India Wholesale Price Index (WPI) Inflation (YoY) For April 1.26% Vs. 1.00% Est.; 0.53% Prior

Over two dozen companies have reportedly filed over 70 liens against sites developed by billionaire entrepreneur&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" rel="noreferrer noopener">&#8216;s&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" rel="noreferrer noopener">SpaceX</a>&nbsp;and its contractors since 2019 due to unpaid bills.&nbsp;
What Happened:&nbsp;According to Reuters, several construction companies filed liens against SpaceX properties after they failed to receive payment for their services.&nbsp;
Since 2019, more than two dozen companies have reportedly lodged 72 liens against sites developed by SpaceX and its contractors, seeking payments totaling over $2.5 million. 
It remains unclear whether these outstanding amounts&nbsp;are owed&nbsp;by SpaceX&nbsp;itself or any of its commissioned contractors.&nbsp;
Among&nbsp;these businesses, some&nbsp;have expressed reluctance to engage in future&nbsp;SpaceX-related projects.&nbsp;Hydroz Energy Services LLC, an excavating&nbsp;business, is owed just $19,214 by SpaceX, a modest sum compared to the rocket manufacturer&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36249896/spacex-worth-180-billion-now-musk-owned-companys-value-tops-boeing-lockheed-martin-disney-verizon-ib" rel="noreferrer noopener">valuation of $180 billion</a>&nbsp;as of a tender offer in December.&nbsp;
Of the 72 liens, at least 41&nbsp;were filed&nbsp;this year, and some have&nbsp;been resolved.&nbsp;Martin Marietta Materials Inc., a construction supply giant based in North Carolina, received $557,611 it claimed in March 2023, two months after filing its lien.&nbsp;
However, many liens remain unresolved, including one filed by Texas-based materials supplier CMC Construction Services for an outstanding bill of $129,592.&nbsp;
Why It Matters: Musk, currently the third richest person globally according to Forbes&#8217; real-time billionaires list, faces increasing scrutiny due to these financial issues.&nbsp;
After he acquired Twitter, now X, in 2022, Musk encountered a barrage of lawsuits from contractors alleging unpaid bills.&nbsp;Additionally,&nbsp;as the CEO of publicly-listed EV giant&nbsp;Tesla Inc., with a market cap of $548.19 billion as of the latest close, Musk&#8217;s financial responsibilities extend beyond SpaceX.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" target="_blank" rel="noreferrer noopener">SpaceX Starship Likely To Fly For 4th Time Next Month As Elon Musk Reaffirms New Goals</a>
Photo by Angga Budhiyanto on Shutterstock

SPACE

Elon Musk's SpaceX Reportedly Leaves Trail Of Unpaid Bills Worth At Least $2.5M Amid Texas Expansion

Patients using Novo Nordisk&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NONOF#OTC">NONOF</a>) obesity treatment, Wegovy, have reportedly maintained an average weight loss of 10% over a four-year period, as per data revealed by the company on Tuesday. This information was shared at the European Congress on Obesity in Venice, Italy.
What Happened: The data, derived from a large-scale study, most of which was published last year, could potentially bolster Novo&#8217;s case for Wegovy as it attempts to convince insurers and governments to cover the cost of the drug, countering the perception of it being merely a lifestyle drug, Reuters reported.
&#8220;This is the longest study we&#8217;ve conducted so far of semaglutide for weight loss,&#8221; stated Martin Holst Lange, Novo&#8217;s head of development. 
See Also: <a href="https://www.benzinga.com/general/health-care/24/05/38763450/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
The trial involved 17,604 patients and tested Wegovy not for weight loss, but for its heart protective benefits for overweight and obese patients with preexisting heart disease but not diabetes. Participants were not required to track diet and exercise as it was not an obesity study.
Why It Matters: Despite s<a href="https://www.benzinga.com/markets/equities/24/05/38575293/demand-soars-for-novo-nordisks-weight-loss-drug-wegovy-despite-supply-constraints-and-eli-lilly-">upply constraints and competition</a> from Eli Lilly, the demand for Wegovy has been on the rise. The drug&#8217;s sales more than doubled to 9.38 billion kroner ($1.35 billion) in the first quarter, although this figure fell short of analysts&#8217; estimates due to pricing pressure.
Tesla CEO <a href="https://www.benzinga.com/news/24/05/38634420/ozempic-ftw-elon-musk-touts-novo-nordisks-blockbuster-drug-as-solution-to-childhood-obesity-problem">Elon Musk recently endorsed</a> Novo Nordisk&#8217;s Ozempic, a GLP-1 agonist primarily prescribed to manage Type 2 diabetes, and <a href="https://www.benzinga.com/news/24/05/38634420/ozempic-ftw-elon-musk-touts-novo-nordisks-blockbuster-drug-as-solution-to-childhood-obesity-problem">sparked a conversation </a>about childhood obesity and potential solutions.
On the other hand, Denmark&#8217;s healthcare authority has decided to <a href="https://www.benzinga.com/general/biotech/24/05/38554472/setback-for-novo-nordisk-denmark-shifts-prescription-guidelines-favoring-cost-effective-alternati">favor less expensive drugs for type 2 diabetes patients</a>, impacting the prescription of costlier GLP-1 drugs such as Novo Nordisk&#8217;s Ozempic. This decision is expected to affect nearly half of all current GLP-1 drug users, who may switch to cheaper alternatives.
Price Action: On Monday, Novo Nordisk closed 3.09% higher on NYSE at $132.39, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/government/24/05/38782353/barbarism-aoc-unleashes-fury-on-us-healthcare-system-as-people-are-choosing-between-medicine-and-ren?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Barbarism:&#8217; AOC Unleashes Fury On US Healthcare System As People Are &#8216;Choosing Between Medicine And Rent&#8217;</a>
Image Via Shutterstock
<div style="font-family: 'Lato', sans-serif">
<div>
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>
</div>

Biotech

Health Care

General

NONOF

Novo Nordisk's Wegovy Delivers: Long-Term Study Shows Sustained Weight Loss As Drugmaker Tries To Woo Insurers And Governments

Sony Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) reported quarterly earnings of $1.03 per share which beat the analyst consensus estimate of $0.79 by 31.01 percent. This is a 54.48 percent increase over earnings of $0.67 per share from the same period last year. The company reported quarterly sales of $23.46 billion which beat the analyst consensus estimate of $19.20 billion by 22.18 percent. This is a 56.20 percent increase over sales of $15.02 billion the same period last year.

Sony Group Q4 EPS $1.03 Beats $0.79 Estimate, Sales $23.46B Beat $19.20B Estimate

Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely to experience a significant decline in its stock value, according to a prominent investor. The investor&#8217;s prediction is based on the company&#8217;s recent developments and its future prospects.
What Happened: Danny Moses, a well-known investor and a long-time critic of Tesla, has forecasted a substantial drop in the company&#8217;s stock price, <a href="https://www.cnbc.com/2024/05/12/big-short-trader-danny-moses-warns-tesla-is-vulnerable-to-70percent-drop.html">reported</a> CNBC&#8217;s &#8220;Fast Money.&#8221;&nbsp;
Moses, who is known for his role in the &#8220;Big Short,&#8221; expects Tesla&#8217;s stock to plummet by 70% to $50 from its current $171.
"Everything is kind of falling apart in their core business. He's pointing everybody to robotaxis and AI and autonomy. It's really become a ‘show me' story in terms of if it's an auto company, and I think people are going to start to lose patience over time here for what the company is going to be,&#8221; Moses said. 
Moses attributes this anticipated decline to the company&#8217;s robotaxi and artificial intelligence initiatives, which he believes are masking fundamental business issues. He also points to the distractions caused by CEO Elon Musk&#8217;s focus on these technologies, despite mounting challenges in the company&#8217;s core operations.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/36913413/why-do-americans-still-buy-non-legal-weed-illicit-cannabis-sales-3-times-higher-than-legal-marij?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Do Americans Still Buy Non-Legal Weed? Illicit Cannabis Sales 3 Times Higher Than Legal Marijuana Sal</a>
Despite a brief stock price increase following Musk&#8217;s reaffirmation of the robotaxi and AI plans during the first quarter earnings call, Moses remains skeptical. He believes that these announcements are diverting attention from the company&#8217;s underlying problems.
The company is also under investigation by the Department of Justice for potentially misleading consumers and investors about the self-driving capabilities of its vehicles.
Moses, while maintaining Tesla as his main short position, praised another autonomous driving company named Wayve. This firm had recently secured $1 billion in funding from notable investors like Nvidia and Bill Gates.
Why It Matters: Tesla&#8217;s stock has been under scrutiny for various reasons. The company is facing challenges in the uptake of its Full Self-Driving technology, with <a href="https://www.benzinga.com/markets/equities/24/05/38805961/elon-musks-tesla-faces-fsd-uptake-challenge-as-only-2-of-free-trial-users-subscribe-gary-black-t">only 2% of free trial users</a> opting for the subscription, raising concerns about the future of the technology.
Additionally, Tesla has been experiencing significant <a href="https://www.benzinga.com/markets/equities/24/05/38796493/teslas-fire-hire-musk-brings-back-some-laid-off-supercharger-team-employees">changes in its workforce</a>, with reports of laid-off Supercharger team members being rehired.
Despite these challenges, the company is making significant strides in <a href="https://www.benzinga.com/markets/asia/24/05/38782261/china-greenlights-another-big-tesla-factory-this-time-for-megapack-project">its global expansion</a>, with China recently approving a new megafactory project, and its Cybertrucks gaining traction in the used car market. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K Level If It Reclaims This Crucial Support</a>
Image Via Shutterstock 
<hr class="wp-block-separator has-alpha-channel-opacity" />
Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

Equities

Analyst Ratings

TSLA

'Big Short' Fame Investor Expects Elon Musk's Tesla Shares To Plunge 70%: 'People Are Going To Start To Lose Patience'

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) to report quarterly earnings at $3.60 per share on revenue of $36.68 billion before the opening bell, according to data from Benzinga Pro. Home Depot shares rose 0.6% to $342.90 in after-hours trading.</li>
<li>Paysafe Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>) posted better-than-expected results for its first quarter on Monday. Paysafe shares jumped 13% to $17.70 in the after-hours trading session.</li>
<li>Analysts are expecting Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to post quarterly earnings at $1.41 per share on revenue of $30.40 billion. The company will release earnings brefore the markets open. Alibaba shares fell 0.9% to $83.85 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) reported downbeat results for its first quarter on Monday. The Bitcoin mining company reported quarterly losses of 3 cents per share which missed the analyst consensus estimate of earnings of 4 cents per share. Quarterly revenue came in at $42.433 million, missing the analyst consensus estimate of $51.092 million. TeraWulf shares tumbled 11.2% to $1.9897 in the after-hours trading session.</li>
<li>Analysts expect International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) to post quarterly earnings at 23 cents per share on revenue of $1.03 billion before the opening bell. International Game Technology shares rose 1.9% to $20.40 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38789146/jim-cramer-likes-micron-and-its-ceo-recommends-buying-this-big-bank">Jim Cramer Likes Micron And Its CEO, Recommends Buying This Big Bank</a>

Pre-Market Outlook

Trading Ideas

BABA

PSFE

WULF

Home Depot, Paysafe And 3 Stocks To Watch Heading Into Tuesday

The CNN Money Fear and Greed index showed some improvement in overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index snapping an eight-session winning streak.
U.S. major indices recorded gains last week, with the Dow gaining 2.16% to record its fourth positive week in a row. The S&amp;P 500 gained 1.85%, gaining for the third straight week.
Data on consumer price index will be released on Wednesday, with economists projecting an increase of 0.4% month-over-month in April. The producer price index is scheduled for release on Tuesday.
GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares jumped over 74% on Monday amid possible retail investor interest following a social media post by Roaring Kitty. Shares of Seritage Growth Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRG#NYSE">SRG</a>) dipped more than 27% after the company reported first-quarter financial results and said it is negotiating an agreement for the sale of four assets for gross proceeds of $79.1 million.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, industrials and financial stocks recording the biggest losses on Monday. However, information technology and real estate stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 81 points to 39,431.51 on Monday. The S&amp;P 500 fell 0.02% at 5,221.42, while the Nasdaq Composite gained 0.29% at 16,388.24 during Monday's session.
Investors are awaiting earnings results from International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>), Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), and The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) today.
At a current reading of 49.8, the index remained in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 47.5.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38789146/jim-cramer-likes-micron-and-its-ceo-recommends-buying-this-big-bank">Jim Cramer Likes Micron And Its CEO, Recommends Buying This Big Bank</a>

Investor Optimism Improves, But Dow Snaps 8-Session Winning Streak

Germany Consumer Price Index (MoM) For April 0.5% Vs. 0.5% Est.; 0.4% Prior

Germany Consumer Price Index (YoY) For April 2.2% Vs. 2.2% Est.; 2.2% Prior

The Labor Downshift

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Real Estate Investment Trusts (REITs) represent a solid industry for investors to add to their portfolios. Investors can gain exposure to the real estate market without the upfront cost of purchasing a home or other types of real estate. Also, REITs offer the ability to receive impressive income generation through very high dividend yields. REITs are&nbsp;<a href="https://www.investopedia.com/terms/r/reit.asp">legally required&nbsp;to distribute</a>&nbsp;at least 90% of its taxable income yearly to investors, primarily in dividends.



So, let&rsquo;s explore a few REIT options that meet that can provide investors with potential upside.



<h2>NewLake Capital Partners (NLCP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-7-300x169.jpg" alt="A close-up shot of a marijuana growhouse. cannabis trends"><div>Source: Shutterstock</div></div>NewLake Capital Partners&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/nlcp-stock-quote/">NLCP</a>) is a&nbsp;<a href="https://www.investopedia.com/terms/t/triple-net-lease-nnn.asp#:~:text=A%20triple%20net%20lease%20(triple,cost%20of%20rent%20and%20utilities." target="_blank">triple-net lease</a>&nbsp;industrial REIT. It provides real estate for legally operating cannabis companies. It owns roughly 31 properties, including cultivation and dispensary facilities.



Over this past year, NLCP&rsquo;s share price has begun to spike again. That follows a substantial drop-off from its IPO in August 2021 and following into early 2023. Over the last six months, share price has risen by 57%. This is primarily due to growing revenue, a dividend yield increase and the fact that it collected 100% of&nbsp;total rent within the last quarter.



Further, NewLake Capital&rsquo;s annual dividend yield is 8.24%. The most recent quarterly distribution to investors was 41 cents per share on April 15. Also, the firm has been experiencing dividend growth for the last two years.



On March 11, NLCP reported&nbsp;earnings for Q4 of 2023, in which it stated that <a href="https://ir.newlake.com/news-events/press-releases/detail/86/newlake-capital-partners-reports-fourth-quarter-and">revenue increased by 7% and net income rose by 4%</a> compared to the previous year.



NewLake Capital is growing fairly rapidly, especially over the last several months. NLCP is a much greater financial position than a couple of years ago. And with consistent growth, this could be an income generation and share price appreciation stock that should excite investors.



<h2>Rithm Capital (RITM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/houses-neighborhood-1600-300x169.jpg" alt="Residential neighborhood subdivision skyline Aerial shot"><div>Source: TDKvisuals / Shutterstock.com</div></div>Rithm Capital&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/ritm-stock-quote/">RITM</a>) is a mortgage REIT primarily composed of mortgage servicing rights and mortgage loan origination. In addition, it performs asset management services.



Over this past year, its share price has risen by 47%, primarily due to consistent revenue growth.



On April 30, Rithm Capital reported&nbsp;<a href="https://ir.rithmcap.com/investors/news/news-details/2024/Rithm-Capital-Corp.-Announces-First-Quarter-2024-Results/default.aspx" target="_blank">earnings for the first quarter of 2024</a>, stating that total revenue increased by 94% compared to Q4 2023. A net loss of $67 million was reported for the fourth quarter of 2023. However, for the first quarter of 2024, it increased to a net income of $287 million.



RITM offers investors a dividend yield of approximately 8.83% on an annual basis. The most recent quarterly distribution was 25 cents, which was distributed to investors on April 26.



Its overall revenue increased massively from the previous quarter, primarily due to an&nbsp;<a href="https://seekingalpha.com/news/4095778-rithm-capital" target="_blank">increase in net servicing earnings</a>. That had increased by $16 million to $554 million quarter-over-quarter (QOQ). Finally, the company offers investors strong growth metrics within the mortgage servicing industry as well as a solid dividend yield.



<h2>VICI Properties (VICI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/vici-1600-300x169.png" alt="Person holding mobile phone with logo of American real estate company Vici Properties Inc. on screen in front of web page. VICI stock."><div>Source: T. Schneider / Shutterstock</div></div>VICI Properties&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/vici-stock-quote/">VICI</a>) is an experiential REIT that owns and operates an extensive portfolio of gaming and entertainment locations. Most notable is VICI&rsquo;s prime real estate on the Las Vegas Strip via the MGM Grand, Caesar&rsquo;s Palace Las Vegas and The Venetian Resort.



On May 1, VICI announced&nbsp;earnings for Q1of 2024. Total <a href="https://investors.viciproperties.com/news/news-details/2024/VICI-Properties-Inc.-Announces-First-Quarter-2024-Results/default.aspx">revenue increased by 8%</a> and net income rose by 14% year-over-year (YOY). VICI reiterated its growth projection for the remainder of 2024, expecting Adjusted Funds From Operations (AFFO) to be within the range of $2.3 billion to $2.4 billion.



Over the past year, its share price has decreased by 10%, even following decent earnings growth and&nbsp;<a target="_blank" href="https://seekingalpha.com/news/4097909-vici-properties-announces-agreement-to-provide-capital-for-the-venetian-resort-las-vegas">increased investment in The Las Vegas Strip</a>.



Also, VICI Properties offer a robust dividend yield of 5.76% on an annual basis, with five consecutive years of dividend appreciation. Its most recent distribution was 42 cents per share, paid to investors on April 4.



VICI Properties could be a solid value buy within the REIT industry with potential upside for investors. But, with a solid dividend yield and strategic reinvestment in its properties, it&rsquo;s a great addition to a portfolio focused on income generation.



As of this writing, Noah Bolton held a LONG position in RITM.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Noah has about a year of freelance writing experience. He&rsquo;s worked with Investopedia dealing with
topics such as the stock market and financial news.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT802110">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT766411">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
The post <a href="https://investorplace.com/2024/05/dividend-dynamos-3-reits-offering-unbeatable-income-streams/">Dividend Dynamos: 3 REITs Offering Unbeatable Income Streams</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Dividend Dynamos: 3 REITs Offering Unbeatable Income Streams

NewLake Capital Partners Q1 2024 Earnings Preview

Notable earnings before Thursday's open

NewLake Capital invests $16M in Connecticut cannabis cultivation facility

NewLake Capital Partners FFO of $0.50 beats by $0.04, revenue of $12.6M beats by $0.62M

NewLake Capital Partners (NLCP) has issued an announcement. NewLake Capital Partners, Inc. has updated its investor presentation, which is now avai...

NewLake Capital Partners Unveils Updated Investor Presentation

NewLake Capital Partners, Inc. (NLCP) Q1 2024 Earnings Call Transcript

NewLake Capital Partners, Inc. 2024 Q1 - Results - Earnings Call Presentation

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Cannabis may be one of the most controversial investing topics. But, it&rsquo;s also turning out to be one of the most profitable. Look at Canopy Growth (NASDAQ:<a href="https://investorplace.com/stock-quotes/cgc-stock-quote/">CGC</a>), for example. Since bottoming out at around $2.77 in March, it hit a high of $14.92.&nbsp;&nbsp;Now at $9.86, it could race even higher. All thanks to substantial catalysts that could send undervalued <a href="https://investorplace.com/industries/healthcare/cannabis/">cannabis stocks</a> to higher highs.



For one, according to a recent Pew Research poll, 88% of Americans want to see legalization. Two, more U.S. states could legalize it. Three, the Drug Enforcement Agency just said it would reschedule cannabis as a less severe drug. 



Four, as we near the presidential election in November, we could hear more about the potential for federal legalization given its popularity among 88% of Americans.&nbsp;In addition, Germany just legalized its use, which could set off a domino effect of legalization throughout Europe.



We could go on, but you get the point. Cannabis stocks are hot and could see higher highs. Here are seven undervalued cannabis stocks you may want to consider buying today, with some paying dividends.



<h2>Innovative Industrial Properties (IIPR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-7-300x169.jpg" alt="A close-up shot of a marijuana growhouse. cannabis trends"><div>Source: Shutterstock</div></div>The last time I mentioned Innovative Industrial Properties (NYSE:<a href="https://investorplace.com/stock-quotes/iipr-stock-quote/">IIPR</a>), it traded at <a href="https://investorplace.com/2024/04/want-more-green-buy-these-3-red-hot-cannabis-stocks-today/">around $97 on April 23</a>. After hitting a high of $111.71, it&rsquo;s pulling back on healthy profit-taking and a revenue miss and is still a strong buy opportunity.&nbsp;



For one, with a yield of 6.95%, the real estate investment trust (REIT) focused on the acquisition, and management of state-licensed cannabis operators, just paid out a dividend of $1.82.&nbsp;



Two, earnings were mixed, but should improve moving forward. <a href="https://seekingalpha.com/news/4103082-innovative-industrial-properties-ffo-of-2_21-beats-0_16-revenue-of-75_5m-misses-3_01m">First quarter adjusted funds from operations (AFFO)</a>, for example, came in at $2.21, which beat by 16 cents. Unfortunately, revenue of $75.5 million, down 0.8% year-over-year (YOY) did miss by $3.01 million. In addition, with cannabis sales set to improve, and interest rates likely to fall, bullish trends could push IIPR higher.



At the moment, the REIT own 108 properties across 19 states with 8.9 million rentable square feet. Also, 95.2% of its portfolio is under a triple-net lease.



<h2>AFC Gamma (AFCG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/cannabis-stocks1600-300x169.png" alt="Marijuana Cannabis Leaf Stock Market Symbol Company Business 3d Illustration. Cannabis stocks"><div>Source: iQoncept / Shutterstock.com</div></div>The last time I mentioned AFC Gamma (NASDAQ:<a href="https://investorplace.com/stock-quotes/afcg-stock-quote/">AFCG</a>), it traded at <a href="https://investorplace.com/2024/04/dank-dividends-3-cannabis-reits-offering-high-yields/">$11.50 on April 15</a>. It would hit a high of $12.66. And while I still like the cannabis REIT &ndash; especially for its 15.5% yield &ndash; I&rsquo;d wait for it to pull back first. It&rsquo;s starting to slip from double-top resistance and could potentially slip back to $11.75 near term.&nbsp;



Earnings were mixed here, too. While EPS of 49 cents beat by six cents, net interest income of $14.76 million &ndash; down 12.3% YOY &ndash; missed by $1.33 million. However, much like IIPR, with cannabis sales likely to increase and hopeful interest rate cuts on the way, AFCG could push higher, as well.&nbsp;



At the moment, &ldquo;AFC Gamma targets direct lending and bridge loan opportunities typically ranging from $5 million to $100 million across multiple real estate sectors, with a specialization in loans to state-licensed cannabis operators,&rdquo; <a href="https://investors.afcgamma.com/news-releases/news-release-details/afc-gamma-separate-commercial-real-estate-lending-business">as noted on its site</a>.



<h2>NewLake Capital Partners (NLCP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/02/marijuana-cannabis-stocks-1600-300x169.png" alt="marijuana stocks Hand gently holding rich soil for his marijuana plants. Cannabis Stocks"><div>Source: Jetacom Autofocus / Shutterstock.com</div></div>There&rsquo;s also NewLake Capital Partners (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nlcp-stock-quote/">NLCP</a>), which I also <a href="https://investorplace.com/2024/04/dank-dividends-3-cannabis-reits-offering-high-yields/">mentioned on April 15</a> as another one of the top undervalued cannabis stocks



At the time, it traded at about $18. Today, it&rsquo;s up to $20.55 and is also overbought. While I do like the stock for its 8% yield, I&rsquo;d also wait for it to pull back before buying. It&rsquo;s another REIT that should benefit from improving sales, and eventual rate cuts from the Federal Reserve.



The REIT, which provides real estate capital to licensed cannabis operators through sale-leaseback transactions and owns a portfolio of 31 properties comprised of 14 cultivation facilities and 17 dispensaries, did post impressive earnings.



In its first quarter, funds from operations came in at 50 cents, which beat by four cents. Revenue of $12.6 million &ndash; up 10.5% YOY &ndash; beat by $620,000.



Also, <a href="https://www.globenewswire.com/news-release/2024/05/09/2878761/0/en/NewLake-Capital-Partners-Reports-First-Quarter-2024-Financial-Results.html">Anthony Coniglio, President and CEO, said</a>: 




&ldquo;Our growth in revenue and AFFO year-over-year and sequentially, after deducting one-time adjustments in the fourth quarter, are what drove our second consecutive quarterly dividend increase to $0.41 per share, or $1.64 per share annually.&rdquo;




He added:




&ldquo;Looking forward, the cannabis industry has much to be excited about following the proposal to reschedule cannabis from Schedule I to Schedule 3, an increase in meaningful dialogue among congressional leaders, and medical to adult-use conversion in&nbsp;Ohio&nbsp;and the Adult-use ballot in Florida.&rdquo;




<h2>ETFMG Alternative Harvest ETF (MJ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/cannabis-stocks1600-2-300x169.png" alt="Business marijuana leaves cannabis stocks success market price green arrow up profit growth charts graph money display screen up industry trend grow higher quickly / Commercial cannabis medicine money"><div>Source: Bigc Studio / Shutterstock.com</div></div>Or, if you want to safely diversify with top undervalued cannabis stocks at a low price of $4.18, look at the ETFMG Alternative Harvest ETF&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/mj-stock-quote/">MJ</a>).&nbsp;



With an&nbsp;<a href="https://etfmg.com/funds/mj/">expense ratio</a>&nbsp;of 0.75%, the ETF tracks the performance of cannabis companies benefiting from global medicinal and recreational use. While its chart isn&rsquo;t too attractive at the moment, give it time. With news of rescheduling, state legalization, and the potential for federal legalization, the MJ ETF and its holdings could see higher highs, with patience.



Some of its top holdings include&nbsp;Tilray&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tlry-stock-quote/">TLRY</a>), Innovative Industrial,&nbsp;SNDL Inc.&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sndl-stock-quote/">SNDL</a>),&nbsp;Cronos Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/cron-stock-quote/">CRON</a>), Canopy Growth, and&nbsp;AFC Gamma Inc.&nbsp;to name a few of the top ones.



After bottoming out at around $2.60 a share, the MJ ETF is now up to $4.18. From here, if it can break above resistance at $4.83 a share, I&rsquo;d like to see it retest $6 moving forward.



<h2>Advisor Shares Pure US Cannabis ETF (MSOS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-6-300x169.jpg" alt="cannabis stocks, With America Turning Green Things Only Can Get Better for Aurora Stock"><div>Source: Shutterstock</div></div>After bottoming out at around $5.13 in November, the Advisor Shares Pure US Cannabis ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/msos-stock-quote/">MSOS</a>) ran to a high of $11.37. Now at $9.35, it&rsquo;s still a strong buy that could double as the cannabis story heats up.



With an expense ratio of 0.60%, the MSOS ETF&nbsp;is the first actively managed U.S.-listed ETF with dedicated cannabis exposure focusing exclusively on U.S. companies, including multi-state operators, as noted on the ETF&rsquo;s site. Some of its top holdings include Green Thumb Industries (OTCMKTS:<a href="https://investorplace.com/stock-quotes/gtbif-stock-quote/">GTBIF</a>), Curaleaf Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/curlf-stock-quote/">CURLF</a>), Trulieve Cannabis (OTCMKTS:<a href="https://investorplace.com/stock-quotes/tcnnf-stock-quote/">TCNNF</a>), and Cresco Labs (OTCMKTS:<a href="https://investorplace.com/stock-quotes/crlbf-stock-quote/">CRLBF</a>).



As I usually note, ETFs are a great investment. Not only do they allow you to diversify with dozens of stocks, but they&rsquo;re also cheaper. You can buy MSOS ETF, for example, for less than $10, while gaining exposure to its 25 holdings.



<h2>Curaleaf Holdings (CURLF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/cannabis-stocks1600-1-300x169.png" alt="Business cannabis leaves marijuana stock exchange market or trading analysis investment indicator graph charts. The concept of a company or stock market of marijuana exports for medical use. Cannabis stocks"><div>Source: C.Aphirak / Shutterstock.com</div></div>There are also undervalued cannabis stocks like Curaleaf. After bottoming out at around $2.50, it raced to a high of $6.40. Now back to $5.50, the undervalued cannabis stock could also race higher.&nbsp;



For one,&nbsp;the&nbsp;<a href="https://www.morningstar.com/news/marketwatch/20240223360/cannabis-stocks-rise-as-germany-takes-first-big-step-toward-broader-legalization-in-europe">recent legalization in Germany</a>&nbsp;could have a domino effect across Europe, where CURLF has been expanding its footprint. For example, CURLF recently acquired Northern Green Canada, which is one of a few Canadian cultivators with EU-GMP (European Union &ndash; Good Manufacturing Process) certification.



In addition, <a href="http://%E2%80%9CIt%20has%20consistently%20supplied%20high-THC,%20non-irradiated%20flower%20to%20the%20German%20market,%20which%20is%20expected%20to%20see%20exponential%20growth%20following%20the%20recent%20removal%20of%20cannabis%20from%20the%20narcotics%20list.%20NGC%20is%20also%20increasingly%20supplying%C2%A0Australia%C2%A0and%C2%A0New%20Zealand,%20the%20world%E2%80%99s%20fastest-growing%20cannabis%20markets.%E2%80%9D">according to the Green Market Report</a>: 




&ldquo;It has consistently supplied high-THC, non-irradiated flower to the German market, which is expected to see exponential growth following the recent removal of cannabis from the narcotics list. NGC is also increasingly supplying Australia and&nbsp;New Zealand, the world&rsquo;s fastest-growing cannabis markets.&rdquo;




Two, CURLF is considering a secondary listing in Europe to help &ldquo;<a href="https://seekingalpha.com/news/4087654-curaleaf-reportedly-eyeing-stock-listing-in-europe">bolster shareholder value</a>,&rdquo; as noted by Seeking Alpha.



<h2>Green Thumb Industries (GTBIF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/gtbif1600-300x169.png" alt=""><div>Source: Wirestock Creators / Shutterstock.com</div></div>We can also look at Green Thumb Industries, an undervalued&nbsp;cannabis consumer packaged goods company and owner of&nbsp;RISE Dispensaries trading at just $12.81.



Since bottoming out at around $6.42 in August, GTBIF raced to a high of $16.33. Now back to $12.81, it&rsquo;s still a strong buy. In its most recent quarter, the company&rsquo;s first quarter revenue of $276 million was up 11% YOY.&nbsp;



&ldquo;Gross profit for the first quarter 2024 was $144.9 million or 52.5% of revenue compared to $124.7 million or 50.2% of revenue for the first quarter 2023,&rdquo; <a href="https://www.morningstar.com/news/globe-newswire/9113826/green-thumb-industries-reports-first-quarter-2024-results#:~:text=Gross%20profit%20for%20the%20first,revenue%20growth%20in%20the%20quarter.">they added</a>. &ldquo;Net income attributable to the Company for the first quarter 2024 was $31.1 million or $0.13 per basic and diluted share, an increase from net income of $9.1 million, or $0.04 per basic and diluted share in the prior year period.&rdquo;



Analysts at Needham also raised their price target on GTBIF to $17, with a buy rating. All after the company&rsquo;s impressive first quarter earnings, which beat expectations.&nbsp;



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
The post <a href="https://investorplace.com/2024/05/the-7-most-undervalued-cannabis-stocks-to-buy-in-may-2024/">The 7 Most Undervalued Cannabis Stocks to Buy in May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 7 Most Undervalued Cannabis Stocks to Buy in May 2024

ACDC

ACRE

AFCG

AKBA

ALGM

AMLX

AMTX

ARGX

ARHS

AVXL

BBRE

BERY

BIGC

BLUE

BRSP

BTAI

CAMT

CARS

CBSTF

CCOI

CEVA

CION

CNTY

COMM

CRLBF

CRNC

CRON

CSIQ

CTRE

CUBE

CURLF

CWEN

DNUT

ENLAY

EPAM

EVRG

FBRT

FOLD

FOUR

FREL

FVRR

GDRX

GLYC

GOCO

GTBIF

HIMX

IHRT

IIPR

ILLMF

IMOS

INFU

INSM

INTR

IRWD

KBWY

KELYA

LAMR

LQDT

MITT

MOGO

MRSN

MSOS

NOMD

NREF

NSANY

NTCT

NTLA

NTST

NVMI

NXRT

NXST

NYMT

PCRFY

PGRE

PPTY

RITM

SBAC

SCHH

SEVN

SNDL

SRVR

TCNNF

TLRY

TRTX

UNIT

USRT

VICI

VRAI

WELL

XLRE

Dividends

Press Releases

NewLake Capital Partners Increases Fourth Quarter 2023 Common Stock Dividend to $0.40 per Share and Provides Share Repurchase Program Update