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A Delaware judge&#8217;s decision to void Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk&#8216;s $56 billion compensation package for a second time has ignited strong criticism from prominent technology leaders and investors, highlighting growing concerns about Delaware&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">corporate governance framework</a>.
What Happened: Cathie Wood, CEO of Ark Invest, condemned Delaware Chancery Court Judge Kathaleen McCormick&#8216;s ruling, calling her an &#8220;activist judge&#8221; and arguing that shareholders&#8217; voting rights were being undermined. The package had received overwhelming shareholder approval twice, most recently with 77% support in June 2023.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Based on her <a href="https://twitter.com/TSLA?ref_src=twsrc%5Etfw">@TSLA</a> ruling, DE Judge McCormick is an activist judge at its worst. No judge has the right to determine CEO compensation. Shareholders voted twice, overwhelmingly each time, to ratify <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>'s 2018 performance-based pay package. She will lose this fight in Supreme… <a href="https://t.co/cnby3pD2vd">https://t.co/cnby3pD2vd</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1863742043362824674?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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&#8220;This ruling, if not overturned, means that judges and plaintiffs&#8217; lawyers run Delaware companies rather than their rightful owners – the shareholders,&#8221; Tesla&#8217;s official account posted on X, formerly Twitter, announcing plans to appeal the decision.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> what he's worth.  The court's decision is wrong, and we're going to appeal. This ruling, if not overturned, means that judges and plaintiffs' lawyers run Delaware…
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1863730393930735634?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
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The controversial ruling also drew criticism from influential tech figures. Y Combinator co-founder Paul Graham suggested this could end Delaware&#8217;s status as the default incorporation state for startups, while Sequoia partner Shaun Maguire highlighted the $345 million in attorney fees awarded to the plaintiffs&#8217; lawyers, contrasting it with the blocked compensation package.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It used to be automatic for startups to incorporate in Delaware. That will stop being the case if activist judges start overruling shareholders. <a href="https://t.co/Z5cb1wn8tN">https://t.co/Z5cb1wn8tN</a>
&mdash; Paul Graham (@paulg) <a href="https://twitter.com/paulg/status/1863737832818479385?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A Delaware Judge just blocked Elon's ~$56B Tesla pay package And simultaneously awarded $345m in compensation to the LAWYERS who sued to block the original pay package I recommend all future companies to incorporate outside of Delaware <a href="https://t.co/oSEbuI98Ho">pic.twitter.com/oSEbuI98Ho</a>
&mdash; Shaun Maguire (@shaunmmaguire) <a href="https://twitter.com/shaunmmaguire/status/1863716730281119932?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
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Future Fund LLC Managing Partner Gary Black expressed confidence in Tesla&#8217;s grounds for appeal, citing the two shareholder votes supporting Musk&#8217;s compensation plan. &#8220;The DE Supreme Court has a reputation for being moderate and pragmatic,&#8221; Black noted, suggesting limited market impact due to the expected nature of the decision.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This decision was expected so I doubt we'll see too much reaction tomorrow. We've been saying this would happen for months &#8211; see my pinned tweet. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> has strong grounds for getting McCormick's decision overturned on appeal &#8211; namely two shareholder votes, one in 2018 and one in… <a href="https://t.co/b7mYGWwoHB">pic.twitter.com/b7mYGWwoHB</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1863736185090191494?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities">S&amp;P 500 At 6,666 In 2025? Bank Of America Predicts &#8216;Another Good Year For Equities&#8217;</a>
Why It Matters: McCormick&#8217;s ruling cited &#8220;fatal flaws&#8221; in Tesla&#8217;s defense, including issues with post-trial evidence and proxy statement misstatements. The judge maintained that the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">board was influenced by Musk</a> when adopting the original 2018 plan, which included ambitious milestones that Tesla ultimately achieved.
The compensation package, the largest ever for a U.S. corporate executive, would be worth over $100 billion at current share prices. While Musk remains the world&#8217;s richest person with an estimated net worth of $343 billion, the ongoing legal battle creates uncertainty for Tesla investors and raises broader questions about shareholder rights versus judicial <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">oversight in corporate governance</a>.
Price Action: Tesla&#8217;s stock closed at $357.09 on Monday, gaining 3.46% for the day. In after-hours trading, the stock dipped 1.23%. Year-to-date, Tesla shares have surged 43.74%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42281220/intel-cleanspark-super-micro-computer-upstart-tesla-why-these-5-stocks-are-on-investors-radars-today">Intel, Cleanspark, Super Micro Computer, Upstart, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a></li>
</ul>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Cathie Wood Slams Delaware Judge As 'Activist' Over Elon Musk's $56B Pay Plan Block, Tesla Warns Of Shareholder Rights Crisis Amid Appeal

Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) shares closed higher by 4.9% to $183.26 Monday following the Biden administration's announcement of expanded export controls targeting <a href="https://www.benzinga.com/government/regulations/24/12/42265847/biden-targets-china-with-new-chip-restrictions-nvidia-slides">China's semiconductor industry</a>.
The new restrictions, aimed at limiting China's access to advanced chipmaking technologies, are expected to redirect global demand for semiconductor manufacturing equipment toward companies like Applied Materials, a leader in this space.
What To Know: Applied Materials, headquartered in Santa Clara, California, is one of the world's largest suppliers of materials engineering solutions used to produce virtually every advanced semiconductor. 
The company's expertise spans deposition, etching, metrology and inspection technologies essential for creating chips used in AI, data centers and advanced memory applications.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42273932/tech-stocks-rise-apple-tops-record-highs-dollar-surges-bitcoin-falls-to-95000-whats-driving-markets-monday">Tech Stocks Rise, Apple Tops Record Highs, Dollar Surges, Bitcoin Falls To $95,000: What&#8217;s Driving Markets Monday?</a>
The latest U.S. measures add 140 Chinese entities to an export blacklist, tightening the flow of high-end chipmaking tools. This includes a broadened scope of restrictions on advanced tools critical for fabricating cutting-edge chips.
Applied Materials, whose tools are pivotal in manufacturing next-generation semiconductors, stands to benefit as global semiconductor firms outside of China ramp up production to fill the gap left by sanctioned Chinese players.
What Else: Furthermore, the sanctions align with agreements between the U.S., Japan and the Netherlands, shielding companies like Applied Materials from competition in certain restricted markets. This could bolsters the company's market position as it serves key global customers.
The geopolitical shift away from Chinese suppliers is likely to increase demand for Applied Materials' equipment, particularly in regions like Taiwan, South Korea and the United States, where investments in semiconductor manufacturing are surging.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273230/stellantis-market-value-halves-in-2024-why-ceo-tavares-exit-could-take-things-from-bad-to-worse">Stellantis Market Value Halves In 2024: Why CEO Tavares&#8217; Exit Could Take Things From Bad To Worse</a>
Investors can gain exposure to&nbsp;AMAT by&nbsp;investing&nbsp;in the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>).
<h2 class="wp-block-heading">How To Buy AMAT Stock</h2>
By now you're likely curious about how to participate in the market for Applied Materials &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of Applied Materials, which is trading at $183.0 as of publishing time, $100 would buy you 0.55 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, AMAT has a 52-week high of $255.89 and a 52-week low of $144.57.

AMAT

What's Going On With Applied Materials Shares?

U.S. markets saw mixed results on Monday: the Dow Jones Industrial Average slipped 0.3% to 44,782, the S&amp;P 500 edged up 0.2% to 6,047.15, and the Nasdaq climbed nearly 1% to close at 19,403.95.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Intel Corporation
Intel&#8217;s stock dipped 0.50% to close at $23.93, with an intraday high of $25.48 and a low of $23.44. The stock&#8217;s 52-week range is between $51.28 and $18.51. Intel&#8217;s CEO, Pat Gelsinger, announced his retirement, reportedly under pressure from the board due to dissatisfaction with the company&#8217;s progress. Intel has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42275410/intel-ceo-pat-gelsinger-forced-out-by-board-analysts-cheer-potential-strategy-shift-this-move-opens-the-door">appointed</a> David Zinsner and Michelle Johnston Holthaus as interim co-CEOs during the search for a new leader.
CleanSpark Inc.
CleanSpark shares rose by 1.18%, closing at $14.52. The stock reached an intraday high of $15.4 and a low of $14.11, with a 52-week high of $24.72 and a low of $6.41. The company reported its fiscal year 2024 earnings, showing a revenue increase of 125% year-over-year. Despite missing analysts&#8217; estimates, CleanSpark <a href="https://www.benzinga.com/news/earnings/24/12/42278398/bitcoin-miner-cleanspark-reports-fy24-earnings-shares-climb">ended the quarter</a> with 8,049 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and $122.2 million in cash. CleanSpark continues to focus on its Bitcoin mining operations.
Super Micro Computer Inc.
Super Micro Computer&#8217;s stock surged by 28.68%, closing at $42. The stock hit an intraday high of $44.15 and a low of $35.32, with a 52-week range from $122.90 to $17.25. The rise followed the <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42268387/super-micro-computer-stock-is-surging-today-whats-behind-the-move">completion of a review</a> by an independent special committee, which found no basis for the concerns raised by the company&#8217;s former auditor. Super Micro reassured investors about its governance and transparency.
Upstart Holdings Inc.
Upstart&#8217;s stock fell 14.47% to $67.39, with an intraday high of $75.50 and a low of $66.88. The stock&#8217;s 52-week high is $86.07, and the low is $20.60. Analysts <a href="https://www.benzinga.com/24/12/42272073/sofi-tech-could-become-american-express-of-fintech-analyst-says">express caution</a> about fintech lenders, suggesting better entry points post-earnings. Upstart faces challenges amid changing market conditions and investor sentiment.
Tesla Inc.
Tesla&#8217;s stock gained 3.46%, closing at $357.09. The stock reached an intraday high of $360 and a low of $351.15, with a 52-week range of $361.92 to $138.8. A Delaware judge <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42279851/elon-musk-56b-pay-package-rejected-by-judge-again-tesla-analyst-says-a-soap-opera-playing-out-in-delaware">rejected</a> Tesla CEO Elon Musk&#8217;s $56 billion pay package from 2018, despite shareholder approval. The compensation plan included challenging milestones for Musk to achieve. Tesla continues to navigate legal and financial hurdles.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42258584/bitcoin-dogecoin-move-up-ethereum-steadies-as-traders-prepare-for-cryptos-final-2024-flourish-will-btc-hit-100k-in-december-analyst-explains?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin Move Up, Ethereum Steadies As Traders Prepare For Crypto&#8217;s Final 2024 Flourish — Will BTC Hit $100K In December? Analyst Explains</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

$BTC

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Intel, Cleanspark, Super Micro Computer, Upstart, Tesla: Why These 5 Stocks Are On Investors' Radars Today

MYNZ

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

The Pentagon announced Monday the latest arms package for Ukraine totaling $725 million, the largest since a $1 billion package in April. The arms package will include the second shipment of antipersonnel mines that President Joe Biden<a href="https://www.benzinga.com/markets/commodities/24/11/41873103/trump-reportedly-urges-russian-president-to-deescalate-war-with-ukraine-heres-how-crude-oil-wti-futures-are-reacting"> authorized.</a>
According to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-02/us-to-announce-725-million-arms-package-for-ukraine-including-mines?sref=TBDibEcD">report</a>, the latest arms package will also include air defense missiles and Javelin, TOW and AT-4 anti-armor weapons, counter-drone munitions, 155mm artillery shells and "equipment to protect critical national infrastructure," according to the Department of Defense.
Read More: <a href="https://www.benzinga.com/etfs/new-etfs/24/12/42270723/new-conservative-etf-aims-to-invest-in-sp-500-without-dei-were-going-to-deliver-that-mandate">New Conservative ETF Aims To Invest In S&amp;P 500 Without DEI: &#8216;We&#8217;re Going To Deliver That Mandate&#8217;</a>
Last week, the White House asked Congress to provide an additional $24 billion in security assistance which it is seeking to designate as "emergency spending." The Biden administration requested $8 billion for the Ukraine Security Assistance Initiative to finance weapons contracts with U.S. defense contractors with the remaining $16 billion to be used for replenishing U.S. weapons stocks.
Major General Patrick Ryder, a Pentagon spokesman, told reporters "We understand the urgent situation in Ukraine and the president's direction and will continue to do everything we can to ensure that Ukraine is getting the aid that it needs."
Why It Matters: Government and military contracting companies, including General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), may benefit from the latest arms package to Ukraine. Specifically, the Javelin weapon system is produced by the Javelin Joint Venture, a partnership between Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) subsidiary Raytheon.  
Investors can gain exposure to the broader aerospace and defense industry through ETFs that invest in U.S. government and military contractors including the iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and the SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>). 
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Photo: Shutterstock

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iShares Dow Jones US Aerospace & Defense Index Fund

US Announces $725 Million Arms Package For Ukraine

The national average price of gas has fallen for the seventh straight week to $3 per gallon, the lowest level since May 2021. The price of gas has fallen slightly, 0.6 cents from last week, and is 23.2 cents<a href="https://www.benzinga.com/24/12/42262225/asia-gains-across-markets-europe-mixed-oil-rises-on-china-activity-dollar-strengthens-global-markets-today-while-us-slept"> lower than a year ago. </a>
According to data from GasBuddy, more than 100,000 stations now offer gas at $2.99 per gallon or less. The median gas price is $2.93 per gallon with the top 10% of stations averaging $4.16 per gallon and the bottom 10% of stations averaging $2.40 per gallon.&nbsp;
Read More: <a href="https://www.benzinga.com/etfs/new-etfs/24/12/42270723/new-conservative-etf-aims-to-invest-in-sp-500-without-dei-were-going-to-deliver-that-mandate">New Conservative ETF Aims To Invest In S&amp;P 500 Without DEI: &#8216;We&#8217;re Going To Deliver That Mandate&#8217;</a>
"Millions took to the road for Thanksgiving, and while some regions, like the Great Lakes, saw gas prices rise just in time for travel, most of the nation saw prices hold mostly stable or decline slightly as the national average remains near the lowest level we've seen since 2021," said Patrick De Haan, head of petroleum analysis at GasBuddy.&nbsp;
Oil Prices: Oil prices per barrel have held in a tight range in the upper $60s over the past week, as tensions continue between Russia and Ukraine, a tenuous peace deal in the Middle East, and economic slowdown in China, among other factors.&nbsp;
Looking Ahead: OPEC members will likely consider extending the current production cuts for another month. However, there is some uncertainty ahead if President-elect Donald Trump increases sanctions on Iran, and potentially Venezuela, or adds tariffs on Canadian crude.
"While the potential impacts from tariffs are something to watch, they would have no effect until late January, if implemented at all. For this week, all eyes will be on the previously delayed OPEC+ meeting on Thursday. If they begin to restore oil production, oil prices could soften to the mid-$60s [per barrel]," De Haan said.&nbsp;
Oil Investments: Investors looking for exposure to the <a href="https://www.benzinga.com/content/42093973/traders-are-flocking-back-to-oil-whats-fueling-the-optimism">oil market</a> could invest in individual oil companies like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).&nbsp;
Commodity oil ETFs track the price of crude oil using futures contracts and include the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) which tracks the price of West Texas Intermediate crude oil.&nbsp;&nbsp;
Equity oil ETFs invest in stocks of oil-related companies with one popular example being the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which holds large-cap U.S. energy companies. 
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</ul>
Photo: Engin Akyurt from Pixabay

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Gas Prices Fall For 7th Straight Week To $3 Per Gallon, Reaching 2021 Levels

Health Canada is set to reduce spending on its <a href="http://benzinga.com/cannabis">cannabis</a> program by CA$20.5 million ($14.6 million) over the next three years. This move is part of the federal government&#8217;s &#8220;Refocusing Government Spending&#8221; initiative aimed at saving CA$15.8 billion over five years.
<h3 class="wp-block-heading">Canada's Cannabis Program Suffers Largest Spending Cuts</h3>
The planned cuts are the largest within Health Canada&#8217;s contributions to the budgetary goal. Reductions include CA$4.7 million in 2024-2025, CA$7.5 million in 2025-2026 and CA$8.3 million in 2026-2027 and ongoing. Other affected areas are pharmaceutical drugs programs and management and oversight services.
In budget 2023, the government announced measures to scale back spending to pre-pandemic levels, <a href="https://stratcann.com/news/more-than-20-million-in-cuts-to-health-canadas-cannabis-program-over-next-three-years/">according</a> to StratCann. Documents tabled in the House of Commons revealed cuts to various federal programs, including affordable housing and the Department of National Defence. This information emerged in response to a question from NDP MP Peter Julian.
<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">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
A <a href="https://www.pbo-dpb.ca/en/publications/RP-2324-024-C--refocusing-government-spending-in-2023-24--recentrer-depenses-gouvernementales-2023-2024#pb!sd">report</a> by the Office of the Parliamentary Budget Officer outlined CA$500 million in announced reductions on consulting, professional services and travel for 2023-24. StratCann notes the report identified CA$179,000 in savings from Health Canada&#8217;s cannabis program, stating it would not impact service levels.
<h3 class="wp-block-heading">Budget Cuts Raise Workforce Concerns Amid Industry Struggles</h3>
However, <a href="https://ottawa.ctvnews.ca/federal-union-warns-government-widening-the-net-to-reduce-spending-1.7103218">according</a> to CTV News Ottawa, the Public Service Alliance of Canada expressed concerns that slashed budgets could potentially impact workforce stability and service delivery.
Read Also: <a href="https://www.benzinga.com/government/regulations/24/11/42146896/exclusive-how-equa-tackles-stigma-in-cannabis-insurance-with-tailored-solutions">EXCLUSIVE: How EQUA Tackles Stigma In Cannabis Insurance With Tailored Solutions</a>
Furthermore, these federal cuts come at a challenging time for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin">Canada&#8217;s legal cannabis industry</a>. Leaders in the sector <a href="https://www.benzinga.com/markets/cannabis/24/08/40591338/canadas-cannabis-growth-slowed-due-to-federal-gov-inaction-key-industry-leader-says">have criticized federal inaction on policy reforms</a>, which has allowed the <a href="https://www.benzinga.com/markets/cannabis/24/08/40558227/cannabis-sales-in-canada-decline-sharply-whats-behind-the-drop">illicit market to thrive and legal sales to decline</a>.&nbsp;
Statistics Canada reported a 2.8% drop from May to June 2024 and an 8.2% year-over-year decrease. Falling flower prices, while competitive against illicit alternatives, have further squeezed profit margins.
Omar Khan, a key figure at High Tide Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>), expressed frustration with the government&#8217;s lack of engagement in an <a href="https://nationalpost.com/opinion/provinces-lead-way-on-cannabis-reform-while-feds-dither">article</a> published in late August. He criticized the absence of federal leadership, considering it has left the sector vulnerable.
As Canada approaches its next federal election in 2025, without decisive measures, the potential of its <a href="http://benzinga.com/topic/canada-cannabis">legal cannabis sector</a> may remain unrealized.
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<li><a href="https://www.benzinga.com/24/12/42265694/trumps-kash-patel-fbi-pick-and-dea-nominee-could-signal-shift-in-drug-enforcement-priorities">Trump&#8217;s Kash Patel FBI Pick And DEA Nominee Could Signal Shift In Drug Enforcement Priorities</a></li>
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Cannabis

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Health Canada Cuts $14.6M From Cannabis Program Amid Federal Austerity

The proposed business combination is expected to be completed in the second quarter of 2025, subject to customary closing conditions, including regulatory and shareholder approvals. The combined company will operate as VenHub Global Holdings, Inc. following the Closing and is expected to list on Nasdaq under the ticker symbol "VHUB".

TGAA

VenHub, Target Global Acquisition I Corp. Enter Definitive Business Combination Agreement;  Proposed Deal Values VenHub At Pro Forma Enterprise Value Of $715M

A Delaware judge has once again struck down a compensation plan for Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk from 2018, news that comes six months after Tesla shareholders approved the pay package for<a href="https://www.benzinga.com/news/24/06/39323339/tesla-shareholders-approve-elon-musk-56b-pay-package-other-company-proposals"> a second time.</a>
 What Happened: A <a href="https://www.benzinga.com/news/24/06/39537125/elon-musks-tesla-pay-package-saga-continues-latest-developments">2018 pay compensation plan</a> provided several milestones that seemed extremely hard for Musk and Tesla to hit, with high payouts if he could accomplish the improbable.
Musk hit the milestone accomplishments from the 2018 incentive plan which led to options paid out worth around $56 billion, as reported by <a href="https://news.bloomberglaw.com/us-law-week/musk-record-tesla-pay-package-rejected-again-by-delaware-judge">Bloomberg</a>.
Delaware Chancery Court Judge Kathaleen McCormick ruled in January that the pay package would be voided due to Tesla's board being influenced by Musk when they adopted the plan. A lawsuit against the plan was previously brought forth by a Tesla shareholder.
McCormick ruled once again against the pay package Monday, despite shareholders approving the compensation plan again in a vote announced in June. An overwhelming majority of 77% of votes cast were in favor of the pay package for Musk, the company previously revealed.
The judge <a href="https://courts.delaware.gov/Opinions/Download.aspx?id=372420">said </a>the defendants failed to prove "entire fairness" in the case.
"The defendants responded by putting the rescinded compensation plan — the exact same plan that the post-trial opinion deemed a breach of the duty of loyalty — to a stockholder vote for the stated purpose of ‘ratifying' it," McCormick writes.
McCormick denied the motion to revise and said the defendants' argument goes against settled law and there are at least "four fatal flaws" in their argument. The judge said there was evidence created after trial, common-law ratification can't be raised for the first time after the post-trial opinion, a shareholder vote cannot ratify a transaction and misstatements in the shareholder vote proxy statement were all fatal flaws.
"Each of these defects standing alone defeats the motion to revise."
The judge also ruled in favor of the plaintiffs for attorney fees in the amount of $345 million, which was less than the $5.6 billion being asked. The fee can be paid via cash or Tesla stock the ruling said.
The judge's ruling will likely be appealed, which could continue to be an overhang on Tesla stock in the coming months.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">Tesla Q3 Earnings Highlights: EPS Beat, Revenue Miss, Shares Climb On 2025 Timeline For Lower-Cost EVs</a>
Why It's Important: Musk is the world's richest person, worth an estimated $343 billion and up $113 billion in 2024 as reported by <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>.
Musk's wealth recently hit an all-time high with Tesla stock soaring and increased valuations for other Musk-related companies gaining after the 2024 election win by his friend Donald Trump.
The pay package is the largest for a U.S. corporate executive and the Tesla shares would be worth over $100 billion now, based on the current share price.
Without the payout, Musk will likely remain the world's richest person, but the news could take a cut out of his wealth.
Wedbush analyst Daniel Ives <a href="https://x.com/DivesTech/status/1863710814651195505">said </a>the pay package being rejected was not a surprise.
"We expect the Musk $56 billion pay package now goes to appeal in Delaware courts and eventually could go the Federal appeals process depending on next steps," Ives tweeted. "This continues to be a soap opera playing out in Delaware."
TSLA Price Action: Tesla stock is down 1.35% to $352.26 in after-hours trading Monday after gaining a little over 3% earlier in the trading session. Tesla stock has traded between $138.80 and $361.92 over the last 52 weeks and is up 43.7% year-to-date in 2024.
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</ul>
Photo: Shutterstock

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Management

Analyst Ratings

Movers

Trading Ideas

Elon Musk $56B Pay Package Rejected By Judge Again: Tesla Analyst Says 'Soap Opera Playing Out In Delaware'

GORO

Gold Resource Says Available Cash Balance Remains A Concern; Expects That Operations At DDGM Could Continue Through At Least Q1 Of 2025 Without Immediate Capital Infusions

Data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> shows High Tide Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>) shares experienced a significant surge, gaining over 21% in the last two trading sessions, closing at $3.47 on Monday, December 2.
This positive performance was reflected in a trading volume of 2,396,045 shares and a market capitalization of $279,947,340. The stock reached a daily high of $3.57 and a low of $3.21.
<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>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/24/12/42272602/cannabis-retail-giant-high-tide-launches-cabana-club-membership-program-in-us-eu-and-uk-with-new-product-categories">Cannabis Giant High Tide Taps Into $113 Billion Global E-Commerce Market With New Product Categories</a>
<h3 class="wp-block-heading">Cabana Club</h3>
This substantial increase in stock price indicates strong investor confidence in the company&#8217;s prospects. While specific catalysts for this surge haven&#8217;t been explicitly identified, it could be attributed to a variety of factors, including <a href="https://www.benzinga.com/news/financing/24/11/41947919/high-tide-closes-final-tranche-of-15m-debt-plans-retail-growth">positive reports</a>, strategic partnerships, or overall <a href="https://www.benzinga.com/markets/cannabis/24/11/41694779/tilray-high-tide-glass-house-how-top-cannabis-companies-deal-with-financial-pressures">market sentiment</a>.
High Tide Inc. is <a href="https://www.benzinga.com/24/12/42272602/cannabis-retail-giant-high-tide-launches-cabana-club-membership-program-in-us-eu-and-uk-with-new-product-categories">expanding its innovative Cabana Club membership program</a> to the U.S., EU and UK through dedicated websites.
"Innovation and market disruption are at the core of High Tide's DNA, and today marks another milestone in our journey,&#8221; said Raj Grover, the company&#8217;s founder and CEO. 
High Tide also said it&#8217;s adding international snacks and confectionery to its e-commerce platform, alongside hemp-derived CBD and cannabis accessories.
With the move the company is tapping into the global e-commerce market for snacks and confectionery, which is, according to Statista, expected to reach over $113 billion in revenue in 2024, with an anticipated annual growth rate of 14%, resulting in a projected market volume of roughly $218 billion by 2029.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/41077842/high-tide-cannabis-co-ranks-among-top-growing-businesses-in-canada-in-2024"> High Tide Cannabis Co. Ranks Among Top Growing Businesses In Canada In 2024</a>

Market Summary

Eurozone

NASDAQ-Listed Weed Stock, High Tides Surges Over 21% In Last Two Sessions

This strategic iniative, facilitated through a purchase from Chief Executive Officer Danny Meeks, thereby reduces the Company's annual rent expenses by approximately $1.7 million, enhancing cashflow and positioning Greenwave for future growth and potential high-value strategic transactions.

GWAV

Greenwave Technology Solutions Acquires The Real Estate For Seven Of Its Core Facilities; No Terms Disclosed

One of the most anticipated vehicle launches of all time happened on Nov. 30, 2023 with Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) delivering its first Cybertruck vehicles to a long waiting list of reservation holders of the highly anticipated<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/36032944/cybertruck-delivery-event-elon-musk-highlights-teslas-best-product-says-finally-the"> electric pickup truck.</a>
Here's a look back at the company's unveiling of the truck and how much investors could have made timing their stock purchase.
What Happened: Tesla recently shared a look back at what the company accomplished in <a href="https://www.benzinga.com/24/12/42262279/a-year-after-teslas-first-cybertruck-deliveries-the-truck-has-a-long-way-to-go-to-meet-musks-goals">its first year</a> with the Cybertruck on the market.
"1 year since we launched the truck that ‘they'd never actually make,'" Tesla <a href="https://x.com/cybertruck/status/1862987583141142936?t=1NyPunb3h46OS_CE8vY56Q&amp;s=19">tweeted</a>.
Tesla shared that since the launch, the Cybertruck has had multiple highlights, including achieving a positive gross margin in less than a year and starting deliveries in Canada.
Other highlights shared in the X thread are the Cybertruck driving and parking itself, having Powershare, testing the bulletproof abilities, beating a Porsche 911 while towing a 911 and winning over diesel truck owners.
The Nov. 30, 2023 delivery event was a long time coming for Tesla and fans of the company.
Tesla CEO&nbsp;Elon Musk&nbsp;<a href="https://www.benzinga.com/news/23/11/35891943/from-shattered-window-to-production-line-tesla-cybertruck-was-unveiled-four-years-ago-today" target="_blank" rel="noreferrer noopener">unveiled</a>&nbsp;the Cybertruck at a public event on Nov. 22, 2019.
Originally set for a 2021 launch, the vehicle suffered several delays and setbacks before its eventual 2023 launch. The film &#8220;Blade Runner&#8221; and <a href="https://www.benzinga.com/general/entertainment/23/04/32100580/elon-musk-owns-an-iconic-1m-james-bond-movie-car-the-crazy-story-of-couple-who-bought-it-fo" target="_blank" rel="noreferrer noopener">the James Bond vehicle from</a> &#8220;The Spy Who Loved Me&#8221; inspired the design.
The vehicle&#8217;s unique design and fans of Tesla and Musk have led to strong demand. A week after the unveiling, Tesla <a href="https://www.benzinga.com/news/23/08/33995360/how-many-cybertruck-reservations-are-there-tesla-fans-predict-a-staggering-total-ahead-of-launch" target="_blank" rel="noopener">reported 250,000 reservations, </a>via a $100 deposit. In recent comments, Tesla has said there are over one million reservations for the vehicle. Third-party estimates put the estimate closer to two million units reserved.
With the Cybertruck, Tesla added another vehicle class to compete with&nbsp;Ford Motor Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>),&nbsp;General Motors Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
In the U.S., trucks <a href="https://www.benzinga.com/news/23/01/30337806/tesla-had-a-top-10-selling-vehicle-in-the-us-for-2022-what-it-means-and-whats-next-for-2023" target="_blank" rel="noreferrer noopener">remain top sellers</a>. In 2022, five of the top 10 bestselling vehicles were pickup trucks, including the top three vehicles.
Pop culture references, like when the vehicle appeared <a href="https://www.benzinga.com/general/entertainment/22/10/29491435/tesla-cybertruck-featured-on-the-simpsons-episode-ahead-of-the-evs-2023-release" target="_blank" rel="noreferrer noopener">on an episode</a> of &#8220;The Simpsons,&#8221; sparked interest. Podcast host Joe Rogan has also <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major" target="_blank" rel="noreferrer noopener">discussed the vehicle</a> and praised its unique design during several of his interviews.
Tesla has estimated it will sell 250,000 Cybertruck units annually by 2025. Musk has tried to downplay early expectations for the highly anticipated vehicle&#8217;s deliveries.
&#8220;I always try to downplay the start of production because the start of production is always very slow. It increases exponentially, but it&#8217;s always very slow at first. So I wouldn&#8217;t put too much thought into the start of production. It&#8217;s kind of when volume production happens, and that&#8217;s next year,&#8221; Musk&nbsp;<a href="https://www.benzinga.com/news/23/01/30595045/are-cybertruck-expectations-too-high-in-2023-musk-says-i-wouldnt-put-too-much-thought-in-start-of-pr" target="_blank" rel="noreferrer noopener">said during an earnings call.</a>
Investors and analysts see the Cybertruck as a big catalyst, which could mean more upside for Tesla shares. If you purchased shares when the Cybertruck was first unveiled, you have already been rewarded.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Investing $1,000 in Tesla Stock:&nbsp;A $1,000 investment could have purchased 2.94 shares of TSLA at the opening print on Nov. 22, 2019.
Tesla underwent stock splits of five-for-one in 2020 and three-for-one in 2022. The splits would take the 2.94 shares to 44.1 total Tesla shares.
The $1,000 investment would be worth $15,747.67 today, based on a Tesla price of $357.09 at the time of writing. It would be up 1,474.8% over the last five years.
The same $1,000 invested in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the top 500 U.S. stocks, wouldn&#8217;t have fared as well. The $1,000 investment in the SPY would be worth $1,937.65 today. This represents a return of 93.8% over the last five years, significantly trailing the performance of Tesla over the same period.
Investors who passed up the opportunity to buy Tesla stock when the Cybertruck was first unveiled may have considered buying the stock last November when deliveries took place. An investor could have bought 4.08 Tesla shares with $1,000 based on a price of $245.22 on Nov. 30, 2023.
The $1,000 investment would be worth $1,456.93 today, up 45.7%.
The same $1,000 invested in the SPY on Nov. 30, 2023, would be worth $1,321.95 today, up 32.2%.
Read Next: 
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</ul>
This article was previously published by Benzinga and has been updated.
Image created using artificial intelligence via Midjourney.

Education

RIVN

Cybertruck Turns 1: If You Invested $1,000 In Tesla Stock When EV Truck Was Unveiled, Here's How Much You'd Have Today

Serina Therapeutics Reveals $10M Equity Financing With Strategic Shareholder JuvVentures (UK) Limited

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FCPT

Four Corners Property Trust Reports Acquisition Of A NAPA Auto Parts Property For $2M

Honeywell International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) shares are trading lower in Monday&#8217;s after-hours session after the company announced a strategic agreement with Bombardier and cut its <a href="https://www.benzinga.com/pressreleases/24/12/n42276780/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-techno">near-term 2024 outlook</a>.
What Happened: Honeywell announced the signing of an agreement with jet manufacturer Bombardier to provide advanced technology to current and future Bombardier aircraft.
Under the partnership, the companies will collaborate on the development of Honeywell avionics&nbsp;and work to certify and offer JetWave X for both new production and aftermarket installations. Bombardier will also have access to Honeywell&#8217;s full suite of L-Band satellite communications products and antennas.
Honeywell noted that all legacy pending litigation between the two companies has been resolved. The company estimated that the value of the partnership will be around $17 billion over its lifetime.
&#8220;This is a tremendous opportunity to co-innovate and advance next-generation technologies, including Anthem avionics and engines,&#8221; said Vimal Kapur, chairman and CEO of Honeywell.
&#8220;Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell&#8217;s focus on compelling megatrends &#8212; automation, the future of aviation, and energy transition.&#8221;&nbsp;
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities">S&amp;P 500 At 6,666 In 2025? Bank Of America Predicts &#8216;Another Good Year For Equities&#8217;</a>
As a result of the strategic agreement, Honeywell expects its near-term financials to be negatively impacted. Fourth-quarter revenue is now expected to be approximately $400 million lower than previous guidance, while earnings are expected to be about 47 cents per share lower than previous guidance.
Honeywell lowered its full-year 2024 revenue guidance from a range of $38.6 billion to $38.8 billion to a new range of $38.2 billion to $38.4 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $38.69 billion. Honeywell also lowered its full-year earnings outlook from a range of $10.15 to $10.25 per share to a new range of $9.68 to $9.78 per share, versus estimates of $10.19 per share.
Honeywell now anticipates a full-year operating cash flow of $5.8 billion to $6.1 billion and a full-year free cash flow of $4.6 billion to $4.9 billion.
HON Price Action: <a href="http://benzinga.com/quote/hon">Honeywell shares</a> were down 2.93% at $223.21 after-hours at publication Monday, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Guidance

After-Hours Center

Tech

Honeywell Stock Slides After Hours On Updated 2024 Outlook

It is payable December 27, 2024, to shareholders of record at the close of business on December 13, 2024.

Dividends

The Hanover Insurance Group Boosts Quarterly Dividend From $0.85 To $0.90 Per Share

Israel launched a series of airstrikes in Lebanon's Nabatieh district Monday, marking the latest episode in <a href="https://www.benzinga.com/topic/israel-hamas-war">the region's ongoing war</a>.
What Happened: The most recent strikes were in response to Hezbollah firing rockets near an Israeli watchtower, The Guardian reported. It was the first direct attack since a ceasefire went <a href="https://www.benzinga.com/24/11/42199447/israel-favors-cease-fire-deal-with-hezbollah-hardliners-stress-need-for-security-zone-inside-lebanon">into effect Wednesday</a>.
The rockets were fired at the occupied Shebaa Farms on Monday night, according to <a href="https://www.theguardian.com/world/live/2024/dec/02/israel-airstrikes-lebanon-middle-east-crisis-latest-updates">The Guardian</a>. The attack seemed more symbolic than destructive, at least at first. The rockets landed in an open area, killing at least two people, per <a href="https://www.aljazeera.com/news/2024/12/2/israeli-attacks-kill-two-people-in-lebanon-hezbollah-responds">Al Jazeera</a>.
Hezbollah described its move as an "initial warning defensive response" to Israel's alleged repeat offenses against the ceasefire agreement.
Israeli Prime Minister Benjamin Netanyahu promised a "strong" response after the alleged ceasefire breach <a href="https://www.benzinga.com/news/global/24/11/42236042/israel-hezbollah-ceasefire-violations-spark-tensions-idf-strikes-southern-lebanon-oil-prices-surge">on the part of Hezbollah</a>, a militant group that has been in conflict with Israel since the early 1980s.
See Also: <a href="https://www.benzinga.com/news/24/10/41348633/emmanuel-macron-has-sharp-words-for-israels-pm-mr-netanyahu-must-not-forget-that-his-country-was-cre">Macron Has Sharp Words For Netanyahu That His Country Was Created By A UN Decision</a>
Why It Matters: Concerns are rising that the region could ditch the ceasefire entirely, <a href="https://www.axios.com/2024/12/02/lebanon-israel-hezbollah-us-ceasefire-unravel">Axios</a> reports.
Over the past year, the Israel-Hezbollah conflict has resulted in significant casualties, particularly among Hezbollah fighters. More than 400 Hezbollah members have been killed in Israeli strikes, <a href="https://www.timesofisrael.com/liveblog_entry/hezbollah-death-toll-in-conflict-passes-400-with-latest-israeli-strike/" target="_blank" rel="noreferrer noopener">The Times of Israel</a> reported in August.
The clashes have led to civilian deaths and injuries on both sides. The exact numbers vary depending on the sources and specific incidents.
Conflict In Gaza Continues: In Gaza, the death toll has passed 44,000, the Associated Press <a href="https://apnews.com/article/israel-palestinians-hamas-war-lebanon-hezbollah-iran-news-11-20-2024-5da3ce43df8662fe9eeab4ad804bdc0f">reports</a>.
The conflict escalated after the Hamas militant group attacked Israeli <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">civilians Oct. 7</a>, 2023, and continues to hold <a href="https://www.benzinga.com/news/24/04/38200834/hamas-says-it-doesnt-have-40-israeli-hostages-for-cease-fire-exchange">many of them hostage</a>.
Cross-border rocket attacks, airstrikes and other military actions against Gaza and neighboring Lebanon followed, heightening concerns of a broader regional war.
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</ul>
Photo: Shutterstock

Politics

Israel, Hezbollah Trade Strikes In Latest Sign Of Crumbling Ceasefire

Shares of Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) traded lower on Monday. In a move that has investors concerned and confused, CEO Carlos Tavares has resigned. This comes as a surprise because two months ago he said that <a href="https://www.benzinga.com/news/management/24/12/42258470/jeep-marker-stellantis-ceo-carlos-tavares-resigns-amid-falling-us-sales-and-trade-pressures-board-cites-different-views">he would retire in 2026.</a>
As you can see on the chart, shares have dropped over 40% this year. However, a potential bottom may be forming, making it our Stock of the Day.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="571" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02165357/stla-1024x571.webp" alt="" class="wp-image-673343" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02165357/stla-1024x571.webp 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02165357/stla-300x167.webp 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02165357/stla-768x428.webp 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02165357/stla.webp 1459w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Markets don't like uncertainty. This means that nervous investors will probably continue to sell and put pressure on the shares. This could continue to force them lower.
Yet, experienced traders can identify key price levels, creating opportunities to profit.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273230/stellantis-market-value-halves-in-2024-why-ceo-tavares-exit-could-take-things-from-bad-to-worse">Stellantis Market Value Halves In 2024: Why CEO Tavares&#8217; Exit Could Take Things From Bad To Worse</a>
They know that when a stock heads lower and reaches a support level there is a good chance the selloff ends. They also know that stocks tend to rally after they drop to support.
As you can see on the chart, the $11.50 level supported Stellantis in June and July. There is a good chance this level will become support once again.
Support levels can remain intact because of &#8220;seller's remorse.&#8221;
Some traders and investors sold when the shares hit support, but when the stock quickly moved higher, many regretted their decision to sell.
Some decided to buy back their shares—if they could acquire them at the same price they were sold.
So, when the stock eventually reversed and returned to the selling price, they placed buy orders. This large concentration of buy orders caused support to form at the same price that had previously been support.
This has happened at the $11.50 level for STLA.
Stocks often rally after reaching support, and that could be the case here, presenting potential profit opportunities in the coming days. This typically occurs when investors and traders who established the support through buy orders become nervous, knowing the sellers will move to the highest bidder.
They don't want to miss out, so they increase their bid prices. Other nervous buyers see this and do the same. This can result in a snowball effect, forcing the shares into an uptrend.
It may be too soon to take a position in Stellantis, but some savvy traders will be looking for a rally and an opportunity to profit if the stock reaches the important support level and potentially reverses.
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Photo: MikeDotta/Shutterstock.com

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