VanEck Merk Gold Trust (ARCA:OUNZ), Trade Ideas

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Trading Ideas

General

GOLD

OUNZ

Gold prices have been on a rollercoaster ride since last week, with investors selling off their gold holdings in the wake of the abating fears over the U.S. banking crisis.

Prices of the precious metal soared past the $2,000 level earlier this week, but fell 1.92% to $1,944 on Tuesday.

Here&#39;s A Gold Rally Sympathy Play With 32% Upside Potential: Analyst

Specialty ETFs

ETFs

Market Vectors ETF Trust Market Vectors Gold Miners

GDXJ

Gold bugs who were in front of their screens on Sunday night witnessed history for the second week in a row.

Gold Just Hit An All-Time (Nominal) High—How To Play The Trade With ETFs

Long Ideas

GOAU

Precious metals, namely gold and silver, are in the midst of epic rallies. On Monday, silver exchange-traded funds extended what are becoming meteoric rises while gold hit an all-time high.

3 Unheralded Gold ETFs That Are On Fire

VanEck Merk Gold Trust

Longitudinal Study of a 200+ Real-World Patient Cohort Further Validates CCL24 as a Novel Target for Systemic Sclerosis (SSc), Showing that It is Associated with Disease Severity Across the Fibrotic&nbsp;and Vascular Manifestations of SSc

Biotech

Health Care

Chemomab Therapeutics Ltd. - American Depositary Shares

CMMB

Chemomab Reports New Peer-Reviewed Publication Reinforcing The Clinical Association Of Its CCL24 Target with Disease Severity and Mortality In Systemic Sclerosis

Contracts

Tech

EADSF

European Aeronautic Defence And Space Unsponsored

EADSY

Mobilicom And Airbus Complete Integration And Flight Proof-Of-Concept On Airbus Mid-Sized Jet-UAV For Long-Range Operations

Cyngn Provides Business Update; Says Focused On Opening New Distribution And Sales Channels

BTCY

Biotricity Launches Cardiac Monitoring Pilot Program In A Hospital System Comprised Of 9 Hospitals And 10 Clinics

Lion Electric Announces Workforce Reduction Impacting Approximately 120 Employees, Mainly 'Canada-based employees in overhead and product development functions.'; Says Reduction Should Not Negatively Impact Production Capacity, Will Have ~1,150 Employees Following Reduction

<ul>
<li>Anticipated conventional throughput of 64,000 barrels per day (bpd) exceeding&nbsp;guidance&nbsp;of 60,000 to 63,000 bpd due to stronger capacity utilization compared to forecast;</li>
<li>Strong renewable throughput and utilization in line with midpoint of&nbsp;guidance;</li>
<li>Projected improved average&nbsp;first quarter&nbsp;crack spreads on finished refined products of&nbsp;28%&nbsp;compared to&nbsp;fourth quarter&nbsp;2023; and</li>
<li>Forecasted reductions in direct operating expense by&nbsp;11%&nbsp;and capital expenditures by&nbsp;29%&nbsp;compared to previous&nbsp;guidance&nbsp;midpoints.</li>
</ul>

VNTRD

Vertex Energy Provides Q1 2024 Operational Update

TLSA

Tiziana Life Sciences Announces New Quantitative PET Imaging Data On Foralumab At Meeting Of American Academy of Neurology

The 2025 Toyota Camrys Are Expected To Arrive At Toyota Dealerships In Late Spring 2024 With A Starting Manufacturer's Suggested Retail Price Of $28,400

2024&nbsp;Outlook&nbsp;and Longer-Term&nbsp;Outlook
The Company reiterated its full-year 2024&nbsp;outlook:
<ul>
<li>Total service revenue growth between&nbsp;4%&nbsp;and&nbsp;6%&nbsp;for full-year 2024. Total service revenue for 2023 was&nbsp;$584.5 million.</li>
<li>Full-year 2024 OEBITDA between&nbsp;$460 million&nbsp;and&nbsp;$470 million. OEBITDA for 2023 was&nbsp;$463.1 million.</li>
<li>Cash taxes of less than&nbsp;$10 million&nbsp;per year from 2024 through 2026. We now expect that the longer-term cash tax rate will move closer to the statutory rate in 2028.</li>
<li>Net leverage below 2.5 times OEBITDA as we exit 2026 and falling below 2.0 times OEBITDA by the end of the decade, assuming the completion of the Company&#39;s share repurchase authorization and the payment of quarterly dividends. Net leverage was 3.1 times OEBITDA at&nbsp;December 31, 2023.</li>
</ul>

Guidance

IRDM

Iridium Communications Reiterated FY24 Service Revenue Growth of 4%-6%, OEBITDA of $460M-$470M

Keybanc analyst Michael Turits maintains Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) with a Overweight and lowers the price target from $380 to $355.

Analyst Ratings

PANW

Keybanc Maintains Overweight on Palo Alto Networks, Lowers Price Target to $355

Genuine Parts Company Raises FY24 Adjusted Diluted EPS Outlook To $9.80-$9.95 From $9.70-$9.90 (Estimate: $9.78); Reaffirms Revenue Growth Of 3% To 5%

ALTR

Altair Acquires Cambridge Semantics; Terms Not Disclosed

Marqeta And Rain Partner To Deliver Earned Wage Access Through Embedded Finance, Through Its Partnership With Rain, Marqeta Can Scale Its Early Wage Access Offerings

Ocular plans to present the study results at an upcoming meeting.&nbsp;AXPAXLI was generally well tolerated with no inflammation observed including no incidence of iritis, vitritis or vasculitis.&nbsp;6 of 13 (46.2%) patients in the AXPAXLI group experienced a 1 or 2-step improvement in the Diabetic Retinopathy Severity Scale (DRSS) at 40 weeks, with 2 of the 6 having a 2-step improvement. &quot;It is promising that the efficacy signals seen to date in this Phase 1 study consistently favor AXPAXLI. These data demonstrated DRSS improvements and durability for up to 40 weeks,&quot; said&nbsp;Dilsher Dhoot, MD.

OCUL

Ocular Therapeutix Reports Topline Phase 1 Data For AXPAXLI In Diabetic Retinopathy; AXPAXLI Was Generally Well Tolerated With No Inflammation Observed

Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $0.15 by 6.67 percent. This is a 100 percent increase over earnings of $0.08 per share from the same period last year. The company reported quarterly sales of $203.85 million which beat the analyst consensus estimate of $193.75 million by 5.21 percent. This is a 0.69 percent decrease over sales of $205.27 million the same period last year.

Earnings

Iridium Comms Q1 EPS $0.16 Beats $0.15 Estimate, Sales $203.85M Beat $193.75M Estimate

BPTH

Bio-Path Holdings Announces Completion Of Higher Dose Second Cohort In Phase 1/1b Clinical Trial Of BP1002 In Refractory/Relapsed Acute Myeloid Leukemia Patients

Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) reported quarterly earnings of $1.11 per share which beat the analyst consensus estimate of $0.97 by 14.43 percent. The company reported quarterly sales of $3.69 billion which beat the analyst consensus estimate of $2.49 billion by 48.13 percent. This is a 48.32 percent increase over sales of $2.49 billion the same period last year.

Earnings Beats

Blackstone Q1 2024 Adj EPS $1.11 Beats $0.97 Estimate, Sales $3.69B Beat $2.49B Estimate

Benchmark analyst Matthew Harrigan maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $290 to $325.

SPOT

Benchmark Maintains Buy on Spotify Technology, Raises Price Target to $325

As the cryptocurrency market experiences a correction, a prominent analyst has identified a meme coin running on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) that is showing promising signs.
What Happened: The pseudonymous analyst Bluntz has pointed out that dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>), a meme coin operating on Solana, could be on the verge of a bullish reversal, <a href="https://dailyhodl.com/2024/04/17/top-analyst-says-solana-based-memecoin-looking-good-amid-crypto-correction-flips-bullish-on-one-ethereum-rival/">reported</a> The Daily Hodl on Thursday. 
"$1.80 hit and wicked straight into the 0.618 on WIF. Promising reaction so far, hoping this is the low but will wait for an impulsive five-wave rise on low timeframes i.e. 30 minutes – one hour for confirmation,&#8221; Bluntz told his followere
He utilizes the Elliott Wave theory, which suggests that a bullish asset goes through an ABC corrective move before witnessing a new five-wave rally. According to Bluntz, WIF&#8217;s recent price action indicates an impending move to the upside.
&#8220;This will prove to be a great entry in time in my opinion,"&nbsp;he said.
Bluntz, who is also optimistic about the future of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) competitor Near (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/near/usd">NEAR</a>), sees a long-term opportunity for NEAR following a correction of over 50% in just one month.
At the time of writing this article, WIF was trading&nbsp;7.85% at $2.38 while NEAR was trading at $5.56, marking a rise of 1.19%. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Why It Matters: The analyst&#8217;s bullish stance on WIF and NEAR comes at a time when the cryptocurrency market is experiencing a correction. Solana, the blockchain on which WIF operates, has also been affected by this correction.
The <a href="https://www.benzinga.com/news/24/04/38301031/why-solana-is-falling">recent dip in the price of Solana</a>, which has been attributed to a drop in the price of Bitcoin, has sparked concerns among investors. The sentiment surrounding Bitcoin&#8217;s downturn has the potential to impact other cryptocurrencies, including those operating on the Solana blockchain. 
However, Macro Guru Raoul Pal<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38293168/macro-guru-raoul-pal-says-80-of-his-crypto-investment-is-in-this-ethereum-rival-and-i-have"> revealed a significant reallocation </a>of his digital asset portfolio, favoring Solana over other cryptocurrencies, including Ethereum. This shift in the investment landscape has raised eyebrows and caused a stir in the cryptocurrency community. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274831/elon-musk-teases-dogecoin-tweet-but-doge-fails-to-rally-from-20-weekly-correction?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Teases Dogecoin Tweet But DOGE Fails To Rally From 20% Weekly Correction</a>
Image via Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$ETH

$NEAR

$SOL

$WIF

Crypto Analyst Bullish On This Solana-Based Meme Coin Amid Market Downturn: 'This Will Prove To Be A Great Entry In Time'

Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) reported quarterly earnings of $2.89 per share which beat the analyst consensus estimate of $2.80 by 3.21 percent. The company reported quarterly sales of $6.473 billion which beat the analyst consensus estimate of $6.391 billion by 1.28 percent. This is a 9.27 percent increase over sales of $5.924 billion the same period last year.

Marsh & McLennan Q1 2024 Adj EPS $2.89 Beats $2.80 Estimate, Sales $6.473B Beat $6.391B Estimate

Gold's Battle Royale: Inflation Vs. Interest Rates

GLD: Gold To The Moon Is Bad News - Part 2

Gold extends safe-haven rise to another record high despite stronger dollar

Financial D-Day And The Rise Of The Gold Vigilantes

The Role Of Gold In Turbulent Times

Does The Rally In Gold Still Have Room To Run?

Gold extends record run as prices near $2,400; Citi sees $3,000 on the horizon

Silver, outgaining gold YTD, set for second-highest market deficit in 20 years - report

Silver, outgaining gold YTD, set for second highest-ever market deficit in 2024 - report

What Iran's Attack Means For Commodities

AAAU

BGLD

CHRG

COPJ

COPX

CPER

FGDL

GLDI

GLDM

GLTR

IAUF

IAUM

IGLD

JJCTF

JJETF

JJMTF

JJNTF

JJPFF

JJUFF

NUGT

OILK

OLOXF

PHYS

PSLV

SESG

SGOL

SILJ

SIVR

SLVO

SLVP

SPTL

USOI

VGLT

Press Releases

Merk Investments Files to Change Pricing Index for VanEck® Merk® Gold Trust (OUNZ)

Merk Investments sets August 7, 2023, to Change Pricing Index for VanEck® Merk® Gold Trust (OUNZ)