Palisade Bio (NASDAQ:PALI) Stock, Quote.Headers.trade-ideas

Palisade Bio

Palisade Bio Inc is a clinical-stage biopharma company focused on identifying and developing therapeutics that protect the integrity of the intestinal barrier. Its portfolio consists of a PALI-2108 for the treatment of IBD, including UC and CD, and is researching PALI-1908.

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Why AMD Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Palisade Bio Inc

PALIBURG HOLDINGS LTD by PALIBURG HOLDINGS LTD.

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PALISADES GOLDCORP LTD by PALISADES GOLDCORP LTD.

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The ambitious Pillar 2 plan—central to Germany&#8217;s cannabis legalization strategy—faces potential abandonment due to mounting political and bureaucratic challenges. Key pilot projects for the controlled sale of adult-use cannabis are now at risk, driven by political shifts within Germany and concerns raised by the European Commission, <a href="https://businessofcannabis.com/where-are-germanys-planned-cannabis-model-projects/">reports</a> Business of Cannabis.
<h3 class="wp-block-heading">Political And Regulatory Roadblocks</h3>
One of the primary obstacles is the rise of right-leaning political parties in recent state elections, which are gaining significant influence. These conservative factions, such as the Christian Democratic Union (CDU) led by Friedrich Merz, have openly voiced their intent to reverse the cannabis legalization efforts if they gain more power in the upcoming federal elections.
The political climate in <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a> is shifting and time appears to be running out for the &#8220;traffic light coalition&#8221; (a coalition government of the Social Democratic Party of Germany (SPD), the Free Democratic Party (FDP) and The Green Party) to pass the necessary legislation to secure Pillar 2's future.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39730706/is-germany-poised-to-become-the-next-weed-epicenter-in-europe">Is Germany Poised To Become The Next Weed Epicenter In Europe?</a>
<h3 class="wp-block-heading">Delays In Cannabis Legislation</h3>
Although the bill was expected by summer 2023, it was delayed, with hopes that it would be passed <a href="https://www.benzinga.com/markets/cannabis/24/04/38142798/german-lawmakers-eager-to-see-phase-2-of-cannabis-legalization-weed-giant-curaleaf-considers-lis">in April 2024</a>. But this didn&#8217;t happen either.
Even with efforts to integrate it into the&nbsp;existing CanG law&nbsp;to avoid passing a separate law, internal conflicts and slow coordination between ministries have further delayed the bill's progress. 
The&nbsp;Federal Ministry of Health, led by Karl Lauterbach, has yet to finalize the draft, a point of ongoing frustration for municipalities eager to participate in the project.
Ates Gürpinar, a spokesperson for the Left Party, has expressed skepticism, stating he no longer expects the law to be enacted before the end of the legislative period.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Crafting The Cannabis Space In Germany</h3>
Yet, some municipalities are <a href="https://www.benzinga.com/markets/cannabis/24/08/40520655/25-german-cities-join-cannabis-pilot-trials-in-2024-under-new-legalization-law">keen to participate</a>. Wiesbaden, for example, recently announced plans to support the model projects, focusing on cannabis sales in pharmacies. Cities like Bremen, Frankfurt and Munich have also expressed interest, while others like Nuremberg and Freiburg have opted out.
Despite recently advancing with the first permits, including <a href="https://www.benzinga.com/markets/cannabis/24/08/40564933/berlin-grants-first-cannabis-cultivation-permission-lower-saxony-to-introduce-fines-with-hefty-p">authorizing a Berlin club </a>to cultivate cannabis, concerns remain. The possibility of the European Commission delaying its review of the law, combined with rising conservative opposition, raises fears that Germany may abandon Pillar 2 altogether.
This would be a significant setback for the cannabis space in Germany and would leave the country stuck in the same regulatory gray zone that has plagued other European nations.
Stay tuned to <a href="https://www.benzinga.com/cannabis">Benzinga Cannabis</a> as this story develops.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40824983/20m-germans-could-benefit-from-medical-marijuana-but-most-struggle-to-find-prescribing-doctors">20M Germans Could Benefit From Medical Marijuana But Most Struggle To Find Prescribing Doctors</a></li>
</ul>
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Conservative Politics Threaten Germany's Cannabis Legalization Plan: What's Going On?

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 50 points on Monday.
The Dow traded up 0.15% to 42,125.80 while the NASDAQ rose 0.15% to 17,975.80. The S&amp;P 500 also rose, gaining, 0.23% to 5,715.46.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/09/40979493/how-to-earn-500-a-month-from-kb-home-stock-ahead-of-q3-earnings">How To Earn $500 A Month From KB Home Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Consumer discretionary shares jumped by 1.1% on Monday.
In trading on Monday, health care shares fell by 0.2%.
Top Headline
The S&amp;P Global manufacturing PMI declined to 47 in September from 47.9 in the prior month, versus market estimates of 48.5.
The S&amp;P Global flash composite PMI slipped to 54.4 in September compared to 54.6 in August, and versus market estimates of 54.3.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Kaival Brands Innovations Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KAVL#NASDAQ">KAVL</a>) shares shot up 148% to $1.4350 after the company and Delta Corp Holdings entered a merger and share exchange agreement.</li>
<li>Shares of BitFuFu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUFU#NASDAQ">FUFU</a>) got a boost, surging 15% to $3.9499 amid strength in Bitcoin prices.</li>
<li>Biohaven Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NASDAQ">BHVN</a>) shares were also up, gaining 16% to $46.80 after the company announced its study of Troriluzole for the treatment of spinocerebellar ataxia in achieved the primary endpoint.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Elevai Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELAB#NASDAQ">ELAB</a>) shares dropped 63% to $0.1036 after the company announced the pricing of an $8.0 million public offering.</li>
<li>Shares of Jin Medical International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJYL#NASDAQ">ZJYL</a>) were down 29% to $2.91.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) was down, falling 17% to $13.65 after B of A Securities downgraded the stock from Buy to Underperform. The company announced plans to acquire a stake in Yonghui Superstores, a leading Chinese retailer.</li>
</ul>
Commodities In commodity news, oil traded down 0.9% to $70.34 while gold traded up 0.2% at $2,652.60.
Silver traded down 1.4% to $31.06 on Monday, while copper rose 0.2% to $4.3535.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.40%, Germany's DAX gained 0.68% and France's CAC 40 gained 0.10%. Spain's IBEX 35 Index rose 0.38%, while London's FTSE 100 rose 0.36%.
The S&amp;P Global UK composite PMI declined to 52.9 in September from 53.8 in August, and down from market estimates of 53.5. German composite PMI declined for a fourth consecutive month to 47.2 in September, while French composite PMI declined to 47.4 in September versus 53.1 in the earlier month.
The HCOB Eurozone manufacturing PMI slipped to 44.8 in September from 45.8 in the prior month, while services PMI declined to 50.5 in September from 52.9 in August.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Hong Kong's Hang Seng Index falling 0.06%, China's Shanghai Composite Index gaining 0.44% and India's BSE Sensex gaining 0.45%.
The People's Bank of China unexpectedly cut the 14-day reverse repurchase rate by 10bps on Sept. 23.
Economics
<ul>
<li>The Chicago Fed National Activity Index rose to +0.12 in August versus a revised reading of -0.42 in the previous month and better than market expectations of -0.20.</li>
<li>The S&amp;P Global manufacturing PMI declined to 47 in September from 47.9 in the prior month, versus market estimates of 48.5.</li>
<li>The S&amp;P Global flash composite PMI slipped to 54.4 in September compared to 54.6 in August, and versus market estimates of 54.3.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40979327/this-analyst-with-85-accuracy-rate-sees-around-92-upside-in-micron-here-are-5-stock-picks-for-last-w">This Analyst With 85% Accuracy Rate Sees Around 92% Upside In Micron &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Equities

BHVN

ELAB

FUFU

KAVL

MNSO

ZJYL

Dow Gains Over 50 Points; Elevai Labs Shares Plummet

<a href="https://www.energy.gov/articles/biden-harris-administration-opens-largest-ever-funding-opportunity-commercialize" title="https://www.energy.gov/articles/biden-harris-administration-opens-largest-ever-funding-opportunity-commercialize">https://www.energy.gov/articles/biden-harris-administration-opens-largest-ever-funding-opportunity-commercialize</a>

OPTT

Biden-Harris Administration Announces $112.5M Investment In Marine Energy To Accelerate Wave Energy Converter Development And Support Clean Energy Initiatives

<h2>Industry: Natural Food</h2>
Companies in the Zacks Natural Foods Products industry have been reaping the benefits of growing consumer health awareness and the rising demand for nutritious, wholesome products. To capitalize on this trend, many companies are expanding their product lines with innovative offerings and strategic acquisitions. Some industry players are increasing investments in digital capabilities to enhance customer engagement and streamline operations.
Despite the challenges posed by rising operating expenses, natural food companies are taking proactive steps to address cost inflation, particularly through strategic pricing initiatives. These positive factors bode well for companies like Performance Food Group Co.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfgc#NYSE">PFGC</a>), Sprouts Farmers Market, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sfm#NASDAQ">SFM</a>) and SpartanNash Co.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sptn#NASDAQ">SPTN</a>).
<h2>About the Industry</h2>
The Zacks Natural Foods Products industry comprises companies that manufacture and sell a wide range of organic and natural fruits, vegetables, dairy products, flour, bakery items, meat and seafood, as well as spices and condiments. These also offer packaged ready-to-eat meals, snacks, cereals and frozen food.
Some companies offer comfort food items like ice cream and soups. A few players provide personal care products as well as health supplements. The firms operating in this space sell their products mostly through wholesalers, distributors, large retail organizations, grocery chains, mass merchandisers, drug stores and e-commerce service providers. Some also cater to food service channels, including restaurants, cafes and hotels. Others offer services to schools, hospitals and industry caterers. Some players operate through independent retail stores.
<h2>Major Trends Shaping the Future of the Natural Food Industry</h2>
Shift Toward Healthier Eating Habits: Consumers are increasingly opting for nutritious and natural food choices, driving demand for fresh and organic products. This trend has become a major boost for companies in the natural food industry as more individuals prioritize healthy eating, even when dining out.
The appetite for fresh, natural and organic foods is expected to remain strong, with foodservice channels experiencing a resurgence. Restaurants and cafes are also responding by incorporating more wholesome ingredients into their menus to meet the preferences of health-conscious customers. Industry experts predict that the focus on healthier food options will persist, supporting the continued popularity of fresh and organic offerings.
Expanding Product Lines and Market Reach: Companies are diversifying their offerings and expanding market reach through strategic partnerships, acquisitions and retail growth. A key focus has been on research and development to create convenient, flavorful home-cooking options with minimal preservatives. Products based on plant-based, gluten-free and keto-friendly ingredients are gaining momentum.
To meet the rising demand for fresh and organic foods, companies are scaling up their production capabilities. The shift toward online shopping has benefited natural food companies, leading to investments in digital transformations, including e-commerce platforms, delivery systems and digital marketing initiatives.
Rising Operating Costs: Companies are facing rising operational expenses, particularly in personnel costs, including wages, salaries, commissions and benefits, which are putting pressure on budgets. Some companies are also seeing increased costs due to new store openings and higher marketing expenditures. While businesses remain focused on growth-oriented investments, these efforts are often weighing on profit margins.
<h2>Zacks Industry Rank Indicates Robust Prospects</h2>
The Zacks Natural Foods Products industry is housed within the broader Zacks Retail - Wholesale sector. The industry currently carries a Zacks Industry Rank #93, which places it in the top 37% of more than 250 Zacks industries.
The group&#39;s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry&#39;s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group&#39;s earnings growth potential. Since the beginning of July 2024, the industry&#39;s earnings estimate for 2024 has risen 2.1%.
Here, we present a few stocks that you may want to consider for your portfolio. However, before that, it&#39;s worth taking a look at the industry&#39;s performance and current valuation.
<h2>Industry vs. Broader Market</h2>
The Zacks Natural Foods Products industry has outperformed the broader Zacks Retail - Wholesale sector as well as the Zacks S&amp;P 500 over the past year.
The industry has risen 59.9% over this period compared with the broader sector&#39;s growth of 25.5% and the S&amp;P 500&#39;s increase of 27.2%.
<h2>Industry&#39;s Current Valuation</h2>
On the basis of forward 12-month price-to-earnings (P/E), which is commonly used for valuing Retail-Wholesale stocks, the industry is currently trading at 17.88X compared with the S&amp;P 500&#39;s 21.48X and the sector&#39;s 23.28X.
Over the past five years, the industry has traded as high as 20.31X and as low as 10.88X, with the median being 14.94X.
<h2>3 Natural Food Stocks to Keep a Close Eye On</h2>
Sprouts Farmers: This well-known grocery retailer has been capitalizing on its emphasis on product innovation, a strong focus on e-commerce, the expansion of private-label offerings, targeted marketing efforts and competitive pricing. SFM has also enhanced its same-day delivery options and store pickup services to provide customers with more convenience across its locations. Sprouts Farmers continues to solidify its position in the natural and organic market, tapping into the growing demand within this sector.
This Zacks Rank #1 (Strong Buy) company has soared a whopping 156.8% in the past year. The consensus mark for Sprouts Farmers&#39; earnings per share for the current fiscal year has increased by 8% to $3.37 over the past 60 days. The Zacks Consensus Estimate for SFM&#39;s sales and EPS for 2024 suggests growth of 9.6% and 18.7%, respectively, from the figure reported in the year-ago period.
SpartanNash: This Zacks Rank #3 (Hold) company&#39;s strategic initiatives and core strengths highlight its potential for long-term growth. SpartanNash has demonstrated resilience in navigating operational challenges while maintaining a strong focus on boosting profitability through targeted investments and cost optimization. With a clear emphasis on innovation, customer satisfaction and market expansion, the company is well-positioned to sustain positive momentum.
SpartanNash&#39;s efforts to broaden its product range and expand its market presence are noteworthy. The company has been diversifying its offerings through strategic partnerships, acquisitions and retail growth, with a significant focus on research and development. The consensus mark for SPTN&#39;s EPS has increased from $1.94 to $1.96 over the past 60 days. Shares of this food solutions company have jumped 27.2% in the past year.
Performance Food Group: This Zacks Rank #3 company has been benefiting from its strong position in the expanding food-away-from-home market. The resilience of its Foodservice segment highlights the company&#39;s effective sales organization and strategic market positioning. Notable initiatives, such as launching a nationwide pizza concept in partnership with GPM and expanding PFG-branded foodservice concepts to convenience customers, reflect PFGC&#39;s innovative approach to creating value.
These strategic moves, alongside disciplined cost management and targeted investments, are anticipated to fuel long-term growth. The Zacks Consensus Estimate for Performance Food Group&#39;s fiscal 2024 sales and earnings indicates growth of 3.8% and 13.3% from the prior-year reported figure. The consensus mark for the EPS has declined from $4.92 to $4.87 over the past 60 days. Shares of PFGC have risen 23.9% in the past year.
<a href="https://www.zacks.com/stock/news/2339700/zacks-industry-outlook-highlights-performance-food-sprouts-farmers-market-and-spartannash?cid=CS-BENZ-FT-press_releases-2339700">To read this article on Zacks.com click here.</a>

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Small Cap

Analyst Ratings

PFGC

SPTN

Zacks Industry Outlook Highlights Performance Food, Sprouts Farmers Market and SpartanNash

Stellantis NV Chairman John Elkann has started a search for a successor to Chief Executive Officer Carlos Tavares, whose contract runs out in early 2026.
The automaker confirmed the decision in response to questions from Bloomberg News, adding it's part of regular succession planning. Pressure on the CEO is rising due to Stellantis' poor performance in markets including the US, its biggest single profit pool.
&nbsp;
<a href="https://www.bloomberg.com/news/articles/2024-09-23/stellantis-starts-search-for-tavares-successor-as-pressure-rises?srnd=condisc&amp;embedded-checkout=true" title="https://www.bloomberg.com/news/articles/2024-09-23/stellantis-starts-search-for-tavares-successor-as-pressure-rises?srnd=condisc&amp;embedded-checkout=true">https://www.bloomberg.com/news/articles/2024-09-23/stellantis-starts-search-for-tavares-successor-as-pressure-rises?srnd=condisc&amp;embedded-checkout=true</a>

STLA

'Stellantis Starts Search for Tavares Successor as Pressure Rises' - Bloomberg

Deep-pocketed investors have adopted a bullish approach towards Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FTNT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Fortinet. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $361,498, and 6 are calls, amounting to $302,335.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $67.5 to $80.0 for Fortinet over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Fortinet's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Fortinet's significant trades, within a strike price range of $67.5 to $80.0, over the past month.
<h3>Fortinet Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727116293_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$5.8</td>
<td>$5.7</td>
<td>$5.65</td>
<td>$80.00</td>
<td>$282.5K</td>
<td>19</td>
<td style="text-align: right;">511</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$5.15</td>
<td>$5.1</td>
<td>$5.1</td>
<td>$77.50</td>
<td>$81.6K</td>
<td>130</td>
<td style="text-align: right;">274</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$16.3</td>
<td>$16.15</td>
<td>$16.15</td>
<td>$67.50</td>
<td>$72.6K</td>
<td>306</td>
<td style="text-align: right;">49</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$7.2</td>
<td>$7.15</td>
<td>$7.2</td>
<td>$75.00</td>
<td>$56.1K</td>
<td>1.2K</td>
<td style="text-align: right;">93</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.35</td>
<td>$6.2</td>
<td>$6.2</td>
<td>$67.50</td>
<td>$48.9K</td>
<td>268</td>
<td style="text-align: right;">80</td>
</tr>
</tbody>
</table>

<h3>About Fortinet</h3>
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
Following our analysis of the options activities associated with Fortinet, we pivot to a closer look at the company's own performance.
<h3>Where Is Fortinet Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,553,595, the price of FTNT is up by 0.84%, reaching $77.42.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 38 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Fortinet</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $76.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Citigroup has decided to maintain their Neutral rating on Fortinet, which currently sits at a price target of $76. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Fortinet options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

FTNT

Fortinet Unusual Options Activity For September 23

Financial giants have made a conspicuous bearish move on Western Digital. Our analysis of options history for Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $105,200, and 5 were calls, valued at $245,693.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $62.5 to $85.0 for Western Digital over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Western Digital's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Western Digital's whale trades within a strike price range from $62.5 to $85.0 in the last 30 days. 
<h3>Western Digital Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727116288_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$1.89</td>
<td>$1.73</td>
<td>$1.75</td>
<td>$85.00</td>
<td>$73.8K</td>
<td>5.0K</td>
<td style="text-align: right;">536</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$3.2</td>
<td>$2.01</td>
<td>$2.52</td>
<td>$66.00</td>
<td>$52.4K</td>
<td>358</td>
<td style="text-align: right;">239</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$1.75</td>
<td>$1.74</td>
<td>$1.74</td>
<td>$75.00</td>
<td>$44.1K</td>
<td>622</td>
<td style="text-align: right;">301</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$9.1</td>
<td>$8.9</td>
<td>$9.1</td>
<td>$62.50</td>
<td>$40.0K</td>
<td>770</td>
<td style="text-align: right;">44</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$1.9</td>
<td>$1.79</td>
<td>$1.9</td>
<td>$67.00</td>
<td>$38.0K</td>
<td>2</td>
<td style="text-align: right;">200</td>
</tr>
</tbody>
</table>

<h3>About Western Digital</h3>
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Following our analysis of the options activities associated with Western Digital, we pivot to a closer look at the company's own performance.
<h3>Current Position of Western Digital</h3>
<ul>
<li>Currently trading with a volume of 1,469,072, the WDC's price is down by -0.34%, now at $66.52. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 35 days.</li>
</ul>
<h3>What The Experts Say On Western Digital</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $81.66666666666667.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Citigroup persists with their Buy rating on Western Digital, maintaining a target price of $85. 
&#x2A; An analyst from TD Cowen persists with their Buy rating on Western Digital, maintaining a target price of $80. 
&#x2A; Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $80.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Western Digital options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Check Out What Whales Are Doing With WDC

Whales with a lot of money to spend have taken a noticeably bullish stance on Elevance Health.
Looking at options history for Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $393,037 and 6, calls, for a total amount of $166,060.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $490.0 to $540.0 for Elevance Health over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Elevance Health's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Elevance Health's significant trades, within a strike price range of $490.0 to $540.0, over the past month.
<h3>Elevance Health Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727116283_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ELV</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$9.2</td>
<td>$9.0</td>
<td>$8.97</td>
<td>$530.00</td>
<td>$78.8K</td>
<td style="text-align: right;">45</td>
<td style="text-align: right;">791</td>
</tr>
<tr>
<td>ELV</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$36.0</td>
<td>$33.5</td>
<td>$33.5</td>
<td>$530.00</td>
<td>$67.0K</td>
<td style="text-align: right;">54</td>
<td style="text-align: right;">22</td>
</tr>
<tr>
<td>ELV</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$8.9</td>
<td>$7.9</td>
<td>$8.9</td>
<td>$530.00</td>
<td>$49.7K</td>
<td style="text-align: right;">45</td>
<td style="text-align: right;">706</td>
</tr>
<tr>
<td>ELV</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$9.5</td>
<td>$7.9</td>
<td>$9.45</td>
<td>$530.00</td>
<td>$47.2K</td>
<td style="text-align: right;">45</td>
<td style="text-align: right;">551</td>
</tr>
<tr>
<td>ELV</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$9.5</td>
<td>$7.9</td>
<td>$9.4</td>
<td>$530.00</td>
<td>$47.0K</td>
<td style="text-align: right;">45</td>
<td style="text-align: right;">651</td>
</tr>
</tbody>
</table>

<h3>About Elevance Health</h3>
Elevance Health remains one of the leading health insurers in the U.S., providing medical benefits to 47 million medical members as of December 2023. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid and Medicare Advantage plans, too.
After a thorough review of the options trading surrounding Elevance Health, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Elevance Health's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 310,819, the ELV's price is down by -0.92%, now at $534.89. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 23 days.</li>
</ul>
<h3>What The Experts Say On Elevance Health</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $605.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $600. 
&#x2A; Reflecting concerns, an analyst from Stephens &amp; Co. lowers its rating to Overweight with a new price target of $615. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $600. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Elevance Health with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

Decoding Elevance Health's Options Activity: What's the Big Picture?

FAA Administrator To Tell Congress Tuesday Agency Will Hold Boeing Accountable For Having Effective System In Place To Ensure Safe Airplanes; Says It Will Revamp Its Safety Management System, Seeks More Real-Time Insights Into Safety Trends

T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) has outperformed the market over the past 10 years by 10.31% on an annualized basis producing an average annual return of 21.5%. Currently, T-Mobile US has a market capitalization of $236.20 billion. 
Buying $100 In TMUS: If an investor had bought $100 of TMUS stock 10 years ago, it would be worth $698.53 today based on a price of $202.44 for TMUS at the time of writing.
<h3>T-Mobile US's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727116215_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

TMUS

If You Invested $100 In This Stock 10 Years Ago, You Would Have $700 Today

Wingstop (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) has outperformed the market over the past 5 years by 23.55% on an annualized basis producing an average annual return of 37.56%. Currently, Wingstop has a market capitalization of $12.56 billion. 
Buying $1000 In WING: If an investor had bought $1000 of WING stock 5 years ago, it would be worth $4,958.13 today based on a price of $428.63 for WING at the time of writing.
<h3>Wingstop's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727116210_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

WING

$1000 Invested In This Stock 5 Years Ago Would Be Worth $5,000 Today

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has been outperforming Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) following the U.S. Federal Reserve's decision to cut its Federal Funds rate by <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937057/bitcoin-ethereum-etfs-see-over-50m-net-outflows-despite-feds-50-bps-rate-cut">50 basis points last Wednesday</a>.
What Happened: Since the central bank's first rate cut in four years, Ethereum's price has surged over 16%, significantly outpacing Bitcoin's 6% increase during the same period, The Block <a href="https://www.theblock.co/post/317658/ethereum-outperforms-bitcoin-after-fed-rate-cut-signaling-bullish-market-sentiment?utm_source=rss&amp;utm_medium=rss">reported</a>.
Market data from Coinglass shows that the Ethereum perpetual futures funding rate has flipped positive since the rate cut, currently standing at 0.0082%. 
This signals a shift in market sentiment, indicating increased bullishness toward Ethereum. 
According to Ruslan Lienkha, chief of market at crypto exchange YouHodler, this positive funding rate reflects heightened demand for leveraged long positions in Ethereum. 
However, Lienkha warned of potential risks associated with over-optimism in the market. 
&#8220;While funding rates typically indicate medium to long-term trends in commodity markets, crypto funding rates are notably more volatile,&#8221; he said.
He also emphasized that opening short positions in anticipation of a long squeeze may be too risky at this time due to the heightened market volatility.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40985461/china-controls-55-of-bitcoin-hashrate-despite-crypto-ban-but-the-us-is-catching-up">China Controls 55% Of Bitcoin Hashrate Despite Crypto Ban, But The US Is Catching Up</a>
Why It Matters: While Ethereum continues to surge, stablecoins have become a critical component in the global cryptocurrency landscape, particularly in Eastern Asia.
According to a Chainalysis <a href="https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/">report</a>, the region accounts for 8.9% of the global cryptocurrency value, receiving more than $400 billion in on-chain value over the past year.
Stablecoins play a crucial role in this market, as they provide a stable digital currency alternative, especially in countries where fiat currencies face devaluation and high inflation.
Hong Kong, in particular, has seen significant growth in cryptocurrency activity, with an 8.5% year-over-year increase. 
The region now ranks 30th on the global crypto adoption index. 
A key factor in this growth has been Hong Kong's introduction of a new regulatory framework for virtual asset trading platforms (VATPs) in June 2023. 
This framework, which includes strict consumer protection and anti-money laundering standards, has facilitated retail investors&#8217; access to crypto, with stablecoins accounting for 40% of the total value received in Hong Kong.
Meanwhile, Chinese investors are turning to over-the-counter (OTC) platforms to move funds amid stringent domestic regulations. As a result, stablecoins have emerged as a vital tool for those navigating these restrictions.
The stablecoin market now boasts a market cap of $172 billion, according to Coingecko. 
As stablecoins continue to gain popularity in regions facing economic instability, Maruf Yusupov, co-founder of Deenar, highlighted the asset's potential to disrupt traditional financial systems.
&#8220;Notably, stablecoin adoption is concentrated in regions where fiat currencies are constantly devalued with high inflationary rates. In most emerging markets, stablecoins are gradually replacing fiat because of lower barriers to entry, low cost and ease of use,&#8221; Yusupov said, in a note sent to Benzinga.
However, Yusupov also cautioned that the growth of stablecoins could attract more regulatory oversight and new forms of fraud. &#8220;The more stablecoins grow, the more oversight their issuers and users must expect. Central banks will do what they can to limit the impact of stablecoins on fiat dominance,&#8221; he said.
Yusupov also pointed out that while stablecoins offer revolutionary potential, market participants should prepare for possible headwinds, including regulatory challenges and scams.
What&#8217;s Next: The evolving dynamics of the crypto market will be a central focus at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where experts will gather to explore the future of cryptocurrency, regulation, and market resilience in the face of volatility.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40985125/bitcoins-on-chain-metrics-are-turning-bullish-what-is-going-on">Bitcoin&#8217;s On-Chain Metrics Are Turning Bullish: What Is Going On?</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

$ETH

Ethereum Outshines Bitcoin After U.S. Federal Reserve Rate Cut, But Here's How Volatility Could Crash The Party

A new study <a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2823671">published</a> in JAMA Network Open provides a comprehensive look into the effects of year-long <a href="https://www.benzinga.com/topic/medical-cannabis">medical cannabis</a> use on brain function, with surprising results. Despite the growing popularity of cannabis as a treatment for symptoms like depression, anxiety, pain and insomnia, the study found no significant changes in brain activity linked to cognitive functions after a year of use.
The research, led by Debbie C. L. Burdinski, BS, and a team of experts, explored the neural implications of cannabis use in 57 adults who had newly obtained medical cannabis cards (MCC) for symptom relief. Conducted over three years from 2017 to 2020 in the greater Boston area, the study aimed to examine whether regular cannabis use affected cognitive processes such as working memory, reward processing and inhibitory control, key areas that are often believed to be impacted by cannabis use.
<h3 class="wp-block-heading">Key Findings From Brain Imaging</h3>
Participants underwent functional magnetic resonance imaging scans at the beginning of the study and again one year later to assess brain activity during tasks requiring memory, impulse control and decision-making. These imaging results were then compared with a control group that did not use cannabis.
Surprisingly, the study reported no &#8220;statistically significant difference in brain activation between the two time points&#8221; in the medical cannabis group. There was also no link between the frequency of cannabis use and changes in brain activity after one year. The findings challenge some earlier research that suggested <a href="https://www.benzinga.com/markets/cannabis/23/03/31293224/study-asserts-long-term-cannabis-use-leads-to-hippocampal-shrinkage-lower-iq-poor-learning-abil-">prolonged cannabis use might alter brain function</a>, particularly in areas tied to executive functioning.
The study&#8217;s authors note that this research is unique because it examines longitudinal changes in adults who began using cannabis for medical reasons, as opposed to recreational use. "Cannabis is increasingly being used to treat medical symptoms, but the effects on brain function in those using cannabis for these symptoms are not known," the report states.
<h3 class="wp-block-heading">A Closer Look At Cognitive Domains</h3>
The study tested three key cognitive areas: working memory, reward processing and inhibitory control. These functions are often thought to be influenced by cannabis, particularly in recreational users who consume high doses. However, this new research suggests that moderate cannabis use for medical purposes may not significantly impair these functions.
During the study, participants performed tasks designed to measure their memory, ability to process rewards and control impulses. Despite increases in cannabis use over the year, the study revealed that &#8220;functional imaging measures during working memory, reward and inhibitory control tasks did not differ statistically from baseline to one year.&#8221;
This was a significant finding because earlier research has suggested cannabis could impair these cognitive abilities. But, the results of this study indicate that, at least for moderate users seeking symptom relief, those fears may be unfounded.
<h3 class="wp-block-heading">Implications For Medical Cannabis Users</h3>
With the medical cannabis industry growing rapidly—especially in the U.S., where <a href="https://www.benzinga.com/markets/cannabis/24/08/40121092/medical-cannabis-patients-increased-sixfold-in-six-years-declined-in-states-where-recreational-u">38 states</a> and Washington D.C. now have medical cannabis programs—this study offers valuable insight. As more adults turn to cannabis for relief from chronic pain, anxiety and other conditions, understanding the potential long-term effects on the brain is crucial.
However, the study's authors caution that more research is needed, particularly involving younger populations and higher doses of cannabis. The study participants were predominantly older, well-educated adults, a demographic that might not be representative of the broader medical cannabis user base. Furthermore, medical users may have different consumption patterns than recreational users, making it difficult to generalize findings.
Cover image made with AI

Health Care

Long-Term Medical Cannabis Use Has No Significant Harmful Effects On Memory Or Impulse Control, New Study Says

WIIM

MSTR

MicroStrategy shares are trading higher after TD Cowen and Barclays raised their respective price targets on the stock.

Vistra Corp shares are trading higher after Morgan Stanley raised its price target on the stock from $110 to $132.

Qualcomm Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) stock has been stuck in a trading range since early August, with analysts speculating <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40981806/qualcomms-potential-intel-buyout-could-face-antitrust-hurdles-analysts-reveal-intri">about a potential bid</a> for Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>). Despite this, shares have faced resistance at the top of the range, which has prompted our trading experts to make it the Stock of the Day.
As the chart below shows, the top of the range has been around $175.00.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="631" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23141002/qcom-chart-1024x631.png" alt="" class="wp-image-561717" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23141002/qcom-chart-1024x631.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23141002/qcom-chart-300x185.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23141002/qcom-chart-768x473.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23141002/qcom-chart.png 1185w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Resistance can stay intact for a long time because of buyer's remorse. Some traders and investors bought shares while the stock was at the top of the range and came to regret doing so when the price moved lower soon after.
Some thought they made a mistake and decided to sell, but they didn't want to lose money. As a result, when the shares rallied back to resistance, these remorseful buyers placed sell orders. If there is a large number of these sell orders, it will create resistance at the level once again.
Read Also: <a href="https://www.benzinga.com/m-a/24/09/40983591/qualcomm-takeover-of-intel-is-logically-unlikely-in-face-of-regulatory-challenges-analyst-says">Qualcomm Takeover Of Intel Is &#8216;Logically Unlikely&#8217; In Face Of Regulatory Challenges, Analyst Says</a>
The bottom of the range is around $158.00.
Support can stay intact for a long time for the opposite reason: sellers&#8217; remorse. There are traders and investors who sold shares at the bottom of the range. When the price moved higher, a number of them thought they made a mistake and decided to buy their shares back.
But they don't want to pay a higher price than they sold them for. As a result, when the price drops back to the bottom of the range, they place buy orders. If there are enough of these buy orders, it will create support at the same price that had previously been support.
If understood and applied correctly, technical analysis is the study of investor and trader psychology. These are what cause patterns to form on charts. Support can stay intact for an extended time because of seller's remorse. Resistance can stay intact for an extended period because of buyer's remorse.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40981806/qualcomms-potential-intel-buyout-could-face-antitrust-hurdles-analysts-reveal-intri">Qualcomm&#8217;s Potential Intel Buyout Could Face Antitrust Hurdles, Analysts Reveal: &#8216;Intriguing On Many Levels&#8217;</a></li>
</ul>
Photo: Shutterstock

Technicals

Tech

INTC

QCOM

Stock Of The Day: Why Qualcomm Stock Remains Stuck In A Range As Speculation Of Intel Takeover Grows

Sea shares are trading higher after B of A Securities raised its price target on stock from $84 to $96.

When Facebook parent company Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) hosts its annual developer conference this week, analysts expect the focus <a href="https://www.benzinga.com/topic/augmented-reality">to be on augmented reality</a>.
The event, scheduled for Sept. 25 and Sept. 26, has the potential for upside from <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence announcements.</a>
Meta Connect 2024: Meta Platforms is expected to highlight new products at its annual Connect developer conference and share updates on its latest <a href="https://www.benzinga.com/topic/meta-quest">virtual and augmented reality devices.</a>
Meta Connect will <a href="https://www.meta.com/connect/">stream </a>live on the company's official website for the event. Meta CEO Mark Zuckerberg will deliver the keynote address on Wednesday at 1 p.m. ET. Programming from other Meta executives will follow. 
 Owners of Meta Quest headsets can also watch the event live in Horizon Worlds.
Among the most anticipated items from the event could be a lower cots Quest 3S device with a reported $299.99 price, as <a href="https://www.theverge.com/24250169/meta-connect-2024-stream-quest-3s-vr-ar-ai">reported </a>by The Verge. Meta could also highlight its Ray-Ban Meta smart glasses.
The product highlights and price points could have Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares on high alert <a href="https://www.benzinga.com/news/24/09/40909648/snap-unveils-smart-glasses-to-bring-ar-technology-to-physical-world-what-investors-need-to-know">with competing products</a>.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40081701/meta-platforms-q2-earnings-revenue-beat-eps-beat-strong-guidance-meta-ai-is-on-track-to-be-the-most">Meta Platforms Q2 Earnings: Revenue Beat, EPS Beat, Strong Guidance — &#8216;Meta AI Is On Track To Be The Most Used AI Assistant In The World&#8217;</a>
What Analysts Are Saying: The Meta Connect conference could show a shift in focus to augmented reality with hints of artificial intelligence, Bank of America analyst Justin Post said.
The analyst, who has a Buy rating and $563 price target, said the conference could highlight progress in augmented reality and artificial intelligence.
Post expects Meta to reveal a prototype of next-gen AR glasses and Meta to put a bigger focus on mixed reality and augmented reality during the presentations, instead of past focus on virtual reality.
"We expect Meta to also showcase growing AI capabilities, and the event may also include new AI product launches for core apps, announcements on Meta AI, and new AI messaging capabilities," Post said.
Meta could also launch a cheaper VR headset (Quest 3S) during the developer conference, the analyst added.
The company could also showcase third-party VR headsets from other companies building on the Horizon Worlds software platform, he added.
Post said Meta could unveil new AI functions for Messenger and WhatsApp and also give an update on large language models.
"We also think there is an opportunity for product demos showing how AI integrations across Facebook and Instagram are boosting engagement."
The analyst said there is also a small chance Meta unveils an AI subscription product during the event.
Rosenblatt analyst Barton Crockett said Meta Connect could lead the news cycle for AI for the week.
The analyst, who has a Buy rating with a $643 price target, said Meta could feature a cheaper virtual reality headset, show off new augmented reality glasses and highlight progress made in artificial intelligence integrated into existing products.
"Given Apple's sales challenges with Vision Pro, expectations for a pricey rival device from Meta have dissipated," Crockett said. "Instead, the focus is on the opposite — a cheaper version of the Meta Quest 3."
Crockett said the concern is how new products in virtual reality and augmented reality can help offset operating losses for the Reality Labs business segment.
"We struggle to see how Meta gets a positive ROIC (return on invested capital) on this. But Meta's willingness to absorb massive losses probably makes it hard for Apple and Snap to compete."
META Price Action: Meta stock trades at $566.54 on Monday versus a 52-week trading range of $279.40 to $573.98. Meta stock is up 64% year-to-date in 2024.
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Image: Courtesy of Meta Platforms

Analyst Color

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AAPL

SNAP

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