Ranger Energy Services Stock (NYSE: RNGR)

Ranger Energy Services Stock (NYSE:RNGR), Trade Ideas

Ranger Energy Services

Ranger Energy Services Inc is a provider of onshore high specification (high-spec) well service rigs, wireline services, and additional processing solutions and ancillary services in the United States. It offers a range of well site services to U.S. exploration and production (E&P) companies that are fundamental to establishing and enhancing the flow of oil and natural gas throughout the productive life of a well. The segments of the group are High Specification Rigs, Wireline Services and Processing Solutions and Ancillary Services, of which key revenue is derived from High Specification Rigs segment.

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	Goldman Sachs boosted  QUALCOMM Incorporated (NASDAQ: QCOM) price target from $136 to $148. QUALCOMM shares rose 0.6% to $140.50 in pre-market trading.


10 Biggest Price Target Changes For Monday

Ranger Energy Services, Inc. Class A Common Stock

Ranger Energy Services Inc

Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) shares are falling Friday after Exane BNP Paribas downgraded the stock <a href="https://www.benzinga.com/news/24/04/38299189/whats-going-on-with-arm-holdings-stock">from Outperform to Neutral</a>.
The Details:
Exane BNP Paribas analyst David O&#8217;Connor <a href="https://www.benzinga.com/quote/ARM/analyst-ratings">downgraded</a> Arm from Outperform to Neutral and announced a $100 price target on the stock.&nbsp;
Arm shares are down nearly 30% over the past five days as earnings from ASML Holdings N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) have put pressure on <a href="https://www.benzinga.com/markets/equities/24/04/38328610/tsmc-cautions-red-hot-chip-industry-growth-could-cool-amid-declining-automotive-chip-demand">the semiconductor sector</a>.&nbsp;
ASML posted worse-than-expected first-quarter results, and TSMC reduced its outlook for the chip market as it sees consumer weakness persisting which overshadowed the company's Q1 results.
Shares of semiconductor companies are falling as investors consider the latest data and the possibility of reduced revenues as the first-quarter earnings season gets underway. Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares are down approximately 10%, and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares have fallen more than 23% Friday afternoon.&nbsp;
SMCI announced its third-quarter earnings date, but did not provide preliminary estimates as it has in previous quarters. Investors may be speculating the company's earnings could be less than stellar due to the absence of preliminary estimates.&nbsp;
Investors can gain exposure to Arm by purchasing shares of the First Trust Nasdaq BuyWrite Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTQI#NASDAQ">FTQI</a>) or the iShares Robotics and Artificial Intelligence Multisector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRBO#NYSE">IRBO</a>) both of which count Arm among their holdings.&nbsp;
Related News: <a href="https://www.benzinga.com/news/24/04/38341107/whats-going-on-with-nvidias-stock">What&#8217;s Going On With Nvidia&#8217;s Stock?</a>
ARM Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Arm Holdings shares are down 17% at $87.04 at the time of publication Friday.
Image:&nbsp;wikimedia commons

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What's Going On With Arm Holdings Stock?

Analysts' ratings for APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) over the last quarter vary from bullish to bearish, as provided by 15 analysts.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $41.67, a high estimate of $59.00, and a low estimate of $28.00. Highlighting a 3.9% decrease, the current average has fallen from the previous average price target of $43.36. 
<img src="https://www.benzinga.com/files/images/story/2024/1713556918_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A comprehensive examination of how financial experts perceive APA is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Announces</td>
<td>Underweight</td>
<td>$28.00</td>
<td>-</td>
</tr>
<tr>
<td>Arun Jayaram</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$40.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$40.00</td>
<td>-</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$45.00</td>
<td>-</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$53.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Leo Mariani</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$39.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Neil Mehta</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Sell</td>
<td>$31.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$59.00</td>
<td>-</td>
</tr>
<tr>
<td>William Janela</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$34.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$33.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$59.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$50.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>John Freeman</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Strong Buy</td>
<td>$43.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$36.00</td>
<td>$42.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to APA. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of APA compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of APA's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into APA's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/APA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on APA analyst ratings.</a>
<h2>Discovering APA: A Closer Look</h2>
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
<h3>Financial Insights: APA</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: APA's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -12.34%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 81.82%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): APA's ROE stands out, surpassing industry averages. With an impressive ROE of 94.99%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): APA's ROA stands out, surpassing industry averages. With an impressive ROA of 12.32%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: APA's debt-to-equity ratio stands notably higher than the industry average, reaching 2.0. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Analyst Ratings: Simplified</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 15 Takes On APA

QuinStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNST#NASDAQ">QNST</a>) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for QuinStreet, presenting an average target of $18.12, a high estimate of $21.50, and a low estimate of $16.00. This upward trend is apparent, with the current average reflecting a 13.25% increase from the previous average price target of $16.00.
<img src="https://www.benzinga.com/files/images/story/2024/1713556829_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive QuinStreet. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Day</td>
<td>B. Riley Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$21.50</td>
<td>-</td>
</tr>
<tr>
<td>John Campbell</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Overweight</td>
<td>$18.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>James Goss</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$16.00</td>
<td>-</td>
</tr>
<tr>
<td>John Campbell</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Overweight</td>
<td>$17.00</td>
<td>$15.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to QuinStreet. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of QuinStreet compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of QuinStreet's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into QuinStreet's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/QNST/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on QuinStreet analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into QuinStreet's Background</h2>
QuinStreet Inc focuses on serving clients in large, information-intensive industries, where the company has pioneered a broad range of Internet marketing tools. QuintStreet aims to partner with search engine companies by helping build websites with flexible content and offerings that are customizable according to the user base. It generates revenue by delivering measurable online marketing results to the clients. Its product offerings comprise a full range of performance marketing products: Clicks, Inquiries, Calls, Applications, and Full Customer Acquisitions.
<h3>Understanding the Numbers: QuinStreet's Finances</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Negative Revenue Trend: Examining QuinStreet's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -8.48% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Communication Services sector.
Net Margin: QuinStreet's net margin excels beyond industry benchmarks, reaching -9.42%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): QuinStreet's ROE stands out, surpassing industry averages. With an impressive ROE of -5.28%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): QuinStreet's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -3.6%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: QuinStreet's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.04.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

QNST

What 4 Analyst Ratings Have To Say About QuinStreet

ZW Data Action Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNET#NASDAQ">CNET</a>) ("ZW Data Action" or the "Company"), an integrated online advertising, precision marketing, data analytics and other value-added services provider serving enterprise clients, today announced that it received a notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that due to the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "2023 Form 10-K"), with the Securities and Exchange Commission (the "SEC"), the Company is not in compliance with Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires the timely filing of all required periodic reports with the SEC.
The Notice has no immediate effect on the listing of the Company's common stock on Nasdaq. Under the Nasdaq rules, the Company has 60 calendar days, or until June 17, 2024, to file the 2023 Form 10-K or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If the Company submits a plan to Nasdaq and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the filing's due date, or until October 14, 2024, to regain compliance. If the Company fails to timely regain compliance with Nasdaq Listing Rule 5250(c)(1), the Company's common stock will be subject to delisting from Nasdaq.
The Company continues to work diligently to complete the 2023 Form 10-K and currently intends to file the 2023 Form 10-K by no later than May 31, 2024.
This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.

CNET

ZW Data Action Announces Receipt Of Nasdaq Non-Compliance Notice

<a href="https://www.reuters.com/technology/amazon-advertising-chief-steps-aside-new-role-2024-04-19/">https://www.reuters.com/technology/amazon-advertising-chief-steps-aside-new-role-2024-04-19/</a>
Amazon.com's advertising executive Colleen Aubrey, a member of the elite internal team advising the CEO, is moving to a new undisclosed position at the company.
Spokeswoman Kristin Mariani said Aubrey's new position would be announced later. She has held the role for nearly three years.
Aubrey is a member of the so-called "S-team," which counsels CEO Andy Jassy, and has worked at Amazon for nearly two decades. Mariani confirmed Aubrey is stepping aside as senior vice president of advertising products and tech in response to a Reuters inquiry.
Mariani didn't respond to questions about who is replacing Aubrey nor the reasons behind the change. Advertising sales under Aubrey have grown rapidly, jumping 24% to $47 billion in 2023 from $38 billion in 2022. The company recently began inserting ads into its Prime Video streaming offering.
"An update on Colleen's next role will be shared at a later date," said Mariani in an email. Aubrey didn't immediately respond to a request for comment.

Management

AMZN

'Amazon Ad Exec Aubrey Steps Aside For New Role' - Reuters News

<a href="https://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2018215090#" title="https://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2018215090#">https://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2018215090#</a>

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AGRI

AgriForce Growing Systems Has Been Granted Australian Patent Number 2018215090 Titled "High Fiber, High Protein, Low Carbohydrate Flour, Sweetened Liquid, Sweeteners, Cereals, And Methods For Production Thereof"

WIIM

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Centuri IPO shares are trading higher following Thursday's IPO.

IART

Integra LifeSciences shares are trading lower. The company announced it will reschedule its Q1 financial results conference call.

Top Stories for April 19, 2024:
1. Chairman and Co-Founder of U.S. Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAU#NASDAQ">USAU</a>) Luke Norman announced the company closed its $4.9 million offering from existing shareholders, strengthening their financial stance as they anticipate a mining <a href="https://www.benzinga.com/topic/gold">permit by mid-year.</a> 
This capital will boost exploration and development, especially with the CK project in Wyoming, where they aim to be the first new hardrock mine in nearly a century.&nbsp;
Supported by favorable market conditions and a supportive regulatory environment, Norman believes U.S. Gold Corp is well-positioned to expand operations and enhance investor value, with further updates expected as they progress.
2. The securities law firm Glancy Prongay &amp; Murray LLP launched an investigation into Compass Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>) for potential federal securities law violations.
The announcement stems from Compass&#8217;s disclosure that the U.S. Forest Service will not use its magnesium chloride-based fire retardants in 2024 due to safety concerns from aircraft corrosion.&nbsp;
This news led to a 17.1% drop in Compass&#8217;s stock price, the law firm is investigating on behalf of shareholders.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38313888/new-canadian-budget-deemed-mixed-bag-for-mining-sector">New Canadian Budget Deemed Mixed Bag For Mining Sector</a>
3. Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) announced the appointment of Francois Hardy as Chief Technology Officer (CTO). 
Francois will join Newmont&#8217;s executive leadership team and lead the technical work across the business to improve operational performance and drive growth.&nbsp;
Francois will take over for interim CTO, Dean Gehring, who also served in a dual role as Newmont&#8217;s Chief Integration Officer.&nbsp;
After a period of transition, Gehring will be leaving the company in early July.
4. UBS analyst Curt Woodworth maintained Alcoa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) with a Sell rating and raised his price target from $27 to $32 following its Q1 earnings.
Meanwhile, Jefferies analyst Chris LaFemina maintained Alcoa with a Buy rating and raised his price target from $45 to $48.
BMO Capital Markets analyst Katja Jancic also raised her price target from $35 to $37 and maintained a Market Perform rating.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/government/24/04/38315652/biden-plan-to-reportedly-block-alaska-mine-access-draws-industry-ire-frankly-i-am-disgusted">Biden Plan To Reportedly Block Alaska Mine Access Draws Industry Ire: &#8216;Frankly, I Am Disgusted&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Commodities

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SNAP

Snap shares are trading higher amid tech weakness. The stock recently gained amid reports of support for a TikTok crackdown bill.

Hemp is federally legal and cannabis is not. Is that the only difference between these related plants and the two markets they create? What should investors know about each market before jumping in? 
A serious conversation led by industry experts Bret Worley, CEO of MC Nutraceuticals, Norman Birenbaum, Senior Public Health Advisor at the FDA, Pamela Epstein, chief legal &amp; regulatory officer Terpene Belt Farms, Keith Bushfield president &amp; CEO of Rexis Biotech. These professionals shared their expertise and advice on the stage at <a href="https://www.benzinga.com/events/cannabis-conference/livestream/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resor</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">t</a> in Hollywood in a panel moderated by Justin Swanson, partner at Bose McKinney and Evans. 
It's&nbsp;been more than five years since Donald Trump signed the 2018 Farm Bill, which effectively legalized hemp and hemp-derived products. Under the bill, hemp&nbsp;is considered&nbsp;to have only 0.3% delta 9 THC.&nbsp;This, however,&nbsp;left many questions unanswered and&nbsp;many&nbsp;products without proper regulations.&nbsp;What about products derived from hemp, are&nbsp;they food or supplements?
The new Farm Bill was due in 2023, but the legislature failed to meet the deadlines,&nbsp;which is why&nbsp;the&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cannabis/23/11/35822504/house-extends-2018-farm-bill-usda-tells-food-safety-workers-to-avoid-cbd-thc-products-more" rel="noreferrer noopener">House recently extended the 2018 Farm Bill</a>&nbsp;through Sept. 30, 2024.
While the industry eagerly awaits the new Farm Bill, Birenabum reminded that we&nbsp;shouldn't&nbsp;expect too much. First things first,&nbsp;"&nbsp;Whether things fall in or outside of the definition of hemp,&nbsp;there&#8217;s&nbsp;a huge market&nbsp;that is there&nbsp;right now.&nbsp;It&#8217;s&nbsp;going to be&nbsp;very,&nbsp;very difficult to take a prohibitionist approach, to get all that toothpaste back in the tube."
Furthermore, Birenbaum cautions that the changes to the Farm Bill&nbsp;"will not provide a comprehensive regulatory structure or the type of regulatory certainty&nbsp;that's&nbsp;needed."&nbsp;
Epstein&nbsp;followed up by&nbsp;saying&nbsp;"It is more difficult to be a multi-state hemp cannabinoid producer than a multi-state cannabis&nbsp;operator,&nbsp;because you have more certainty within the packaging, labeling, advertising restrictions,"&nbsp;referring to the lack of clear regulations across the hemp space.&nbsp;She added that investors and raw producers are interested in long-term sustainability,&nbsp;which&nbsp;is&nbsp;achieved&nbsp;through understanding the safety data and the toxicology behind new products.&nbsp;
<h2 class="wp-block-heading" id="h-honest-integrity-as-the-basis-nbsp">Honest Integrity As The Basis&nbsp;</h2>
Worley was curious to&nbsp;know&nbsp;"Where did marijuana get it wrong&nbsp;and&nbsp;where did hemp get it right?"&nbsp;He was alluding to the fact that hemp space grew at 3 or 4 times the rate of marijuana. Also, he asked the panelists what is the&nbsp;right&nbsp;regulatory framework.
Epstein explained that a hemp registration is so much easier than a license that burdens applicants with hundreds of thousands, if not millions&nbsp;of&nbsp;dollars before you&nbsp;are even able to&nbsp;earn a penny.&nbsp;In regards to&nbsp;a good framework, she said that the hemp operators need to be responsible to be the stewards that unlock the scheduling.&nbsp;
"Don&#8217;t&nbsp;be afraid of the word intoxicated. We are all selling intoxicants. Alcohol is an intoxicant.&nbsp;It&#8217;s&nbsp;not a scary word.&nbsp;It&#8217;s&nbsp;an honest integrity,"&nbsp;Epstein said.&nbsp;
Bushfield added that&nbsp;there's&nbsp;gonna&nbsp;be&nbsp;"bad actors in every industry,&nbsp;doesn't&nbsp;matter who it is,"&nbsp;which is why we need proper regulations.
"Our compliance department attitude is &#8211;&nbsp;let&#8217;s&nbsp;have every single warning we possibly can put on those cans, and we put it out there even if we&nbsp;don&#8217;t&nbsp;need it, even if&nbsp;we&#8217;re&nbsp;not required. So I think that has to happen across the board,"&nbsp;Bushfield said.&nbsp;
"So, if we all get together, put the right framework in place, the hemp is going to help the cannabis, the cannabis will help the hemp,"&nbsp;he concluded.&nbsp;
The panelists agreed on the importance of education and the fact that prohibition is not helping consumer safety or consumer health.
Photo by Jean Laurenceau

Cannabis

Events

Exclusives

Hemp Space Grew 3X The Rate Of Cannabis, Where Did Marijuana Get It Wrong?

Investors with a lot of money to spend have taken a bullish stance on Cloudflare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NET, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 31 uncommon options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the special options we uncovered, 20 are puts, for a total amount of $1,894,282, and 11 are calls, for a total amount of $506,082.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $170.0 for Cloudflare during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cloudflare's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cloudflare's significant trades, within a strike price range of $55.0 to $170.0, over the past month.
<h3>Cloudflare Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713555966_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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>NET</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$6.35</td>
<td>$6.25</td>
<td>$6.25</td>
<td>$85.00</td>
<td>$306.2K</td>
<td>2.2K</td>
<td style="text-align: right;">214</td>
</tr>
<tr>
<td>NET</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.9</td>
<td>$5.7</td>
<td>$5.7</td>
<td>$65.00</td>
<td>$244.0K</td>
<td>3.2K</td>
<td style="text-align: right;">294</td>
</tr>
<tr>
<td>NET</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$10.1</td>
<td>$9.9</td>
<td>$9.9</td>
<td>$90.00</td>
<td>$222.7K</td>
<td>3.5K</td>
<td style="text-align: right;">572</td>
</tr>
<tr>
<td>NET</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$87.65</td>
<td>$85.85</td>
<td>$85.85</td>
<td>$170.00</td>
<td>$94.4K</td>
<td>1</td>
<td style="text-align: right;">22</td>
</tr>
<tr>
<td>NET</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$86.45</td>
<td>$83.85</td>
<td>$85.45</td>
<td>$170.00</td>
<td>$93.9K</td>
<td>1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Cloudflare</h3>
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.
After a thorough review of the options trading surrounding Cloudflare, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Cloudflare's Current Market Status</h3>
<ul>
<li>With a trading volume of 2,828,997, the price of NET is down by -3.31%, reaching $83.84.</li>
<li>Current RSI values indicate that the stock is may be oversold.</li>
<li>Next earnings report is scheduled for 13 days from now.</li>
</ul>
<h3>What The Experts Say On Cloudflare</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $97.5.
<ul>
<li>Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Cloudflare, targeting a price of $95. </li>
<li>An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $100. </li>
</ul>
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 Cloudflare with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Unpacking the Latest Options Trading Trends in Cloudflare

Whales with a lot of money to spend have taken a noticeably bearish stance on BlackRock.
Looking at options history for BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $250,836 and 6, calls, for a total amount of $3,655,006.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $700.0 to $770.0 for BlackRock over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of BlackRock stands at 67.71, with a total volume reaching 824.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in BlackRock, situated within the strike price corridor from $700.0 to $770.0, throughout the last 30 days.
<h3>BlackRock Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713555960_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</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>BLK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$49.0</td>
<td>$47.9</td>
<td>$49.0</td>
<td>$740.00</td>
<td>$3.4M</td>
<td style="text-align: right;">11</td>
<td style="text-align: right;">700</td>
</tr>
<tr>
<td>BLK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$42.5</td>
<td>$41.0</td>
<td>$41.5</td>
<td>$710.00</td>
<td>$124.5K</td>
<td style="text-align: right;">89</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>BLK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$15.1</td>
<td>$14.7</td>
<td>$15.1</td>
<td>$740.00</td>
<td>$70.8K</td>
<td style="text-align: right;">268</td>
<td style="text-align: right;">41</td>
</tr>
<tr>
<td>BLK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$56.8</td>
<td>$55.2</td>
<td>$55.9</td>
<td>$770.00</td>
<td>$61.4K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">11</td>
</tr>
<tr>
<td>BLK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$15.1</td>
<td>$14.8</td>
<td>$14.99</td>
<td>$740.00</td>
<td>$55.4K</td>
<td style="text-align: right;">268</td>
<td style="text-align: right;">3</td>
</tr>
</tbody>
</table>

<h3>About BlackRock</h3>
BlackRock is the largest asset manager in the world, with $10.008 trillion in assets under management at the end of December 2023. Its product mix is fairly diverse, with 52% of managed assets in equity strategies, 28% in fixed income, 9% in multi-asset classes, 8% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.
Having examined the options trading patterns of BlackRock, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of BlackRock</h3>
<ul>
<li>With a trading volume of 528,872, the price of BLK is up by 0.22%, reaching $748.93.</li>
<li>Current RSI values indicate that the stock is may be oversold.</li>
<li>Next earnings report is scheduled for 84 days from now.</li>
</ul>
<h3>What The Experts Say On BlackRock</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $893.0.
<ul>
<li>An analyst from Keefe, Bruyette &amp; Woods downgraded its action to Outperform with a price target of $930. </li>
<li>An analyst from Morgan Stanley persists with their Overweight rating on BlackRock, maintaining a target price of $1025. </li>
<li>An analyst from UBS has decided to maintain their Neutral rating on BlackRock, which currently sits at a price target of $850. </li>
<li>An analyst from JP Morgan has decided to maintain their Neutral rating on BlackRock, which currently sits at a price target of $767. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for BlackRock, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

BlackRock Unusual Options Activity For April 19

Financial giants have made a conspicuous bearish move on Stryker. Our analysis of options history for Stryker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>) revealed 8 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $424,828, and 3 were calls, valued at $144,240.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $320.0 to $340.0 for Stryker during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Stryker's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Stryker's significant trades, within a strike price range of $320.0 to $340.0, over the past month.
<h3>Stryker Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713555955_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>SYK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$20.6</td>
<td>$19.7</td>
<td>$19.7</td>
<td>$320.00</td>
<td>$220.6K</td>
<td>406</td>
<td style="text-align: right;">143</td>
</tr>
<tr>
<td>SYK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$26.2</td>
<td>$24.9</td>
<td>$24.9</td>
<td>$340.00</td>
<td>$74.7K</td>
<td>1.0K</td>
<td style="text-align: right;">45</td>
</tr>
<tr>
<td>SYK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$25.1</td>
<td>$24.1</td>
<td>$25.1</td>
<td>$330.00</td>
<td>$65.2K</td>
<td>226</td>
<td style="text-align: right;">46</td>
</tr>
<tr>
<td>SYK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$29.6</td>
<td>$28.6</td>
<td>$29.6</td>
<td>$340.00</td>
<td>$50.3K</td>
<td>254</td>
<td style="text-align: right;">17</td>
</tr>
<tr>
<td>SYK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$24.2</td>
<td>$23.4</td>
<td>$24.2</td>
<td>$330.00</td>
<td>$48.4K</td>
<td>226</td>
<td style="text-align: right;">20</td>
</tr>
</tbody>
</table>

<h3>About Stryker</h3>
Stryker designs, manufactures, and markets an array of medical equipment, instruments, consumable supplies, and implantable devices. The product portfolio includes hip and knee replacements, endoscopy systems, operating room equipment, embolic coils, hospital beds and gurneys, and spinal devices. Stryker remains one of the three largest competitors in reconstructive orthopedic implants and holds the leadership position in operating room equipment. Just over one fourth of Stryker's total revenue currently comes from outside the United States.
Following our analysis of the options activities associated with Stryker, we pivot to a closer look at the company's own performance.
<h3>Stryker's Current Market Status</h3>
<ul>
<li>With a volume of 951,577, the price of SYK is down -0.57% at $325.58. </li>
<li>RSI indicators hint that the underlying stock may be oversold.</li>
<li>Next earnings are expected to be released in 11 days.</li>
</ul>
<h3>What The Experts Say On Stryker</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $390.5.
<ul>
<li>An analyst from Citigroup has decided to maintain their Buy rating on Stryker, which currently sits at a price target of $406. </li>
<li>An analyst from TD Cowen has decided to maintain their Buy rating on Stryker, which currently sits at a price target of $400. </li>
<li>An analyst from RBC Capital persists with their Outperform rating on Stryker, maintaining a target price of $386. </li>
<li>An analyst from Evercore ISI Group persists with their Outperform rating on Stryker, maintaining a target price of $370. </li>
</ul>
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 Stryker options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Stryker Unusual Options Activity For April 19

ROKU

Roku shares are trading lower in sympathy with Netflix, which fell after reporting Q1 financial results.

Amazon shares are trading lower amid overall tech weakness.

UBER

Uber shares are trading lower. The stock fell earlier in the week on reports senators are seeking information on delivery companies' junk fees.

<a href="https://www.audacy.com/talk1370/news/business/cannabis-seizures-at-checkpoints-by-us-mexico-border-frustrates-state-authorized-pot-industry?utm_source=dlvr.it&amp;utm_medium=twitter">https://www.audacy.com/talk1370/news/business/cannabis-seizures-at-checkpoints-by-us-mexico-border-frustrates-state-authorized-pot-industry?utm_source=dlvr.it&amp;utm_medium=twitter</a>
The U.S. Border Patrol is asserting its right to seize cannabis shipments — including commercial, state-authorized supplies — as licensed cannabis providers file complaints that more than $300,000 worth of marijuana has been confiscated in recent months at highway checkpoints in southern New Mexico.
New Mexico's Democratic governor says the disruptions prompted a discussion this week with U.S. Homeland Security Secretary <a href="https://apnews.com/hub/alejandro-mayorkas">Alejandro Mayorkas</a>, whose impeachment charges were dismissed this week. Gov. Michelle Lujan Grisham says she voiced concerns that the scrutiny of cannabis companies appears to be greater in New Mexico than <a href="https://apnews.com/article/420-history-marijuana-07ecdd87c4756cc4a1dbd4ad3b1f682c">states with regulated markets</a> that aren't along the U.S. border with Mexico.
Authorized cannabis sales in New Mexico have exceeded $1 billion since regulation and <a href="https://apnews.com/article/health-business-texas-new-mexico-marijuana-f786a646543955f1db4a9e51cee79e8c">taxation of the recreational market</a> began two years ago. Yet cannabis transport drivers say they have been detained hours while supplies are seized at permanent Border Patrol checkpoints that filter inbound traffic for unauthorized migrants and illegal narcotics, typically located about 60 miles (100 kilometers) from the U.S. border.
"Secretary Mayorkas assured the governor that federal policies with respect to legalized cannabis have not changed," said Lujan Grisham spokesperson Michael Coleman in an email. "Regardless, the governor and her administration are working on a strategy to protect New Mexico's cannabis industry."
Managers at 10 cannabis businesses including transporters last week petitioned New Mexico's congressional delegation to broker free passage of shipments, noting that jobs and investments are at stake, and that several couriers have been sidelined for "secondary inspection" and fingerprinted at Border Patrol checkpoints.
"We request that operators who have had product federally seized should be allowed to either get their product returned or be monetarily compensated for the losses they've sustained," the letter states.
U.S. Sen. Martin Heinrich said the Department of Homeland Security should be focused on urgent priorities that don't include cannabis suppliers that comply with state law.
"Stopping the flow of illicit fentanyl into our country should be the Department of Homeland Security's focus at these checkpoints, not seizing cannabis that's being transported in compliance with state law," the senator said in a statement, referring to the parent agency for U.S. Customs and Border Patrol. "New Mexicans are depending on federal law enforcement to do everything they can to keep our communities safe. Our resources should be used to maximize residents' safety, not distract from it."
A public statement Thursday from the U.S. Border Patrol sector overseeing New Mexico provided a reminder that cannabis is still a "Schedule 1" drug, a designation also assigned to heroin and LSD.
"Although medical and recreational marijuana may be legal in some U.S. States and Canada, the sale, possession, production and distribution of marijuana or the facilitation of the aforementioned remain illegal under U.S. federal law," the agency's statement said. "Consequently, individuals violating the Controlled Substances Act encountered while crossing the border, arriving at a U.S. port of entry, or at a Border Patrol checkpoint may be deemed inadmissible and/or subject to, seizure, fines, and/or arrest."
Matt Kennicott, an owner of Socorro-based High Maintenance, a cannabis business, said seizures by Border Patrol started in February without warning and create uncertainty about shipments that include samples for consumer-safety testing. He said cannabis producers in southernmost New Mexico rely on testing labs farther north, on the other side of Border Patrol checkpoints, to comply with safeguards against contaminants like mold or pesticides.
"It's not a little confusing, it's a lot confusing," he said. "We're trying to figure out where this directive came from."

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MASSIVE INTERACTIVE NV by Massive Interactive, Inc.

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'Cannabis Seizures At Checkpoints By U.S.-Mexico Border Frustrates State-Authorized Pot Industry' - Audacy Citing AP

COIN

Coinbase shares are trading lower, reversing after earlier gaining with a rise in Bitcoin.

SPOT

Spotify shares are trading lower despite a lack of negative company-specific news.

These Energy stocks are trading higher:-Crescent Energy Co (CRGY) stock is trading at $12.00, a gain of $0.88, or 7.87%, on high volume.  Crescent Energy Company Cl A gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $16.13.  -Ranger

Energy Stocks Making Moves Tuesday: CRGY, RNGR, PBT, SBOW, KOS, TGS, AMTX, ICD

Ranger Energy Services, Inc. (RNGR) Q4 2023 Earnings Call Transcript

Commodity Roundup: Crude oil up amid signs of tightness, global gas prices rise

Warning: RNGR is at high risk of performing badly

Piper Sandler analyst Luke Lemoine maintained a Hold rating on Ranger Energy Services (RNGR – Research Report) today and set a price target of $12....

Ranger Energy Services (RNGR) Gets a Hold from Piper Sandler

These Energy stocks are trading higher:-Aemetis Inc (AMTX) stock is trading at $6.96, a rise of $1.86, or 29.55%, on high volume.  Aemetis Inc gets a Sentiment Score of Very Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $10.30.  -North European Oil Royalt

Energy Stocks on the Move Friday: AMTX, NRT, GEOS, CRT, CNNEF, ALVOF, CRC, RNGR

Analysts fell to the sidelines weighing in on Ranger Energy Services (RNGR – Research Report), EOG Resources (EOG – Research Report) and Beach Ener...

Analysts' Top Energy Picks: Ranger Energy Services (RNGR), EOG Resources (EOG)

Analysts have been eager to weigh in on the Energy sector with new ratings on Chevron (CVX – Research Report) and Ranger Energy Services (RNGR – Re...

Analysts Offer Insights on Energy Companies: Chevron (CVX) and Ranger Energy Services (RNGR)

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Press Releases

Ranger Energy Services, Inc. Announces Q2 2023 Financial and Operational Results

28th Annual EnerCom Denver - The Energy Investment Conference Set to be held August 13-16, 2023 in Denver, Colorado

Ranger Energy Services, Inc. to Present at the Barclays CEO Energy-Power Conference

Ranger Energy Services, Inc. to Present at the Sidoti Small-Cap Virtual Conference

Sidoti Events, LLC's Virtual September Small-Cap Conference

Ranger Energy Services, Inc. Announces Date for Third Quarter 2023 Earnings Conference Call

Ranger Energy Services Announces Appointment of Two New Independent Directors to the Board of Directors

Ranger Energy Services, Inc. Announces Q3 2023 Financial and Operational Results

Ranger Energy Services, Inc. Announces Date for Fourth Quarter and Full Year 2023 Earnings Conference Call