South Beach Spirits (OTC:SBES) Stock, Quote.Headers.trade-ideas

South Beach Spirits Inc is a Florida based company. The company is engaged in the development, marketing, and distribution of alcoholic beverage. It distributes traditional and flavored vodka under the brand V Georgio Vodka.

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South Beach Spirits Inc

EV startup Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) said on Thursday that it has commenced production of its second offering &#8211; the Gravity SUV &#8211; at its factory in Arizona.
What Happened: &#8220;Today marks an exciting landmark for our company. Production of the Lucid Gravity is now underway at our factory in Arizona!​,&#8221; Lucid said in a post on social media platform X.
The post was accompanied by a short video of Lucid CEO Peter Rawlinson driving the vehicle in the factory. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today marks an exciting landmark for our company. Production of the Lucid Gravity is now underway at our factory in Arizona!​ This milestone is a celebration of the hard work by our passionate and dedicated team to bring this groundbreaking SUV to life. Its combination of space… <a href="https://t.co/ItJsOL3H3Y">pic.twitter.com/ItJsOL3H3Y</a>
&mdash; Lucid Motors (@LucidMotors) <a href="https://twitter.com/LucidMotors/status/1864778105879224524?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Lucid <a href="https://www.benzinga.com/24/11/41838253/lucid-rises-nearly-5-in-pre-market-after-strong-q3-results-opening-orders-for-gravity-suv">started taking orders</a> for Gravity last month. Orders are now being taken for the Grand Touring trim of the SUV starting from $94,900. Production of the lower-priced Touring trim of the vehicle, starting at $79,900, will start only in late 2025, the company previously said.
Lucid, which entered the EV market with its premium Air sedan, is looking to expand its total addressable market with the Gravity. Rawlinson previously said that with Gravity, the company has now entered a &#8220;market that&#8217;s about 6 times larger than our addressable market last year with Air.&#8221;
Why It Matters: The Gravity is expected to rival Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Model X SUV which starts at $79,990 for the base version and at $94,990 for the more premium Plaid version.
During Lucid&#8217;s&nbsp;<a href="https://www.benzinga.com/news/24/05/38663810/lucid-ceo-throws-down-the-gauntlet-with-48k-ev-plan-to-take-on-teslas-dominance-wait-until-our-midsi" target="_blank" rel="noreferrer noopener">first-quarter earnings call in May</a>, the CEO said that Gravity has a "significant opportunity" that the Model X did not capture. While the Model X is a bit car-like, the Gravity is a proper three-row SUV and is on track to become the "world's best SUV," he said.
Lucid is also looking forward to starting production of a high-volume midsized platform priced at around $48,000 in late 2026 as a&nbsp;<a href="https://www.benzinga.com/news/24/06/39135581/youtuber-mkbhd-praises-lucid-air-sapphire-if-it-couldnt-be-a-tesla-it-would-have-to-be-this" target="_blank" rel="noreferrer noopener">direct competitor&nbsp;</a>to Tesla&#8217;s mass-market offerings Model 3 and Model Y.
The company, however, is yet to make a profit. For the third quarter, the EV company reported an adjusted quarterly loss of 28 cents per share. 
Price Action: Lucid shares closed down by about 0.5% on Tuesday at $2.09. The stock is down by nearly 50% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Overall, analysts have a consensus rating of &#8220;Neutral&#8221; on Lucid stock, with the highest price target being $12 and the lowest being $2. The most recent analyst ratings by RBC Capital, RF Lafferty, and Cantor Fitzgerald have an average price target of $3.33, implying a 59% upside.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42311290/trader-danny-moses-says-he-is-no-longer-shorting-tesla">&#8216;Big Short&#8217; Trader Danny Moses Gives Up On Shorting Tesla, Says It Is &#8216;Very Difficult To Short A Name That Is Not Trading On Fundamentals&#8217;</a></li>
</ul>
Photo courtesy: Lucid

Tech

LCID

TSLA

Lucid Kicks Off Gravity SUV Production To Take On Tesla's Model X

Macro Economic Events

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INDA

Reported Earlier, India Interest Rate Decision Unchanged At 6.50%

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Household Spending (MoM) For October 2.9% Vs. 0.4% Est.; -1.3% Prior

Reported Earlier, Japan Household Spending (YoY) For October -1.3% Vs. -2.6% Est.; -1.1% Prior

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surge beyond the $100,000 mark could be a harbinger of a bullish stock market, influential financial analyst Tom Lee said on Thursday.
What Happened: Lee, managing partner and head of research at Fundstrat Global Advisors, said in a CNBC interview, &#8220;I think Bitcoin rising is, to me, breaking out of a holding pattern is a precursor to what the S&amp;P 500 is going to do for the rest of the year.&#8221;
Lee noted that Bitcoin&#8217;s rally reflected the market&#8217;s pro-risk sentiment. &#8220;I think it also just signals how much capital has been idle for the last couple of years, either parked in money market cash or waiting to see if the economy survives.&#8221;
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Lee said investors would have a lot of macroeconomic data to parse in the coming days, including the<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42346164/november-jobs-report-preview-will-it-seal-the-deal-for-a-fed-interest-rate-cut"> November jobs report</a>, the November Consumer Price Index data, and the Federal Reserve&#8217;s meeting to decide on interest rates.
&#8220;I think once we&#8217;re through these events, investors can actually then invest into sort of that Christmas Santa Claus rally,&#8221; he added. 
Lee also doubled down on his <a href="https://www.benzinga.com/news/global/24/12/42281825/tom-lee-predicts-sp-500-to-hit-6300-bitcoin-to-surpass-100k-by-year-end-says-trump-carrying-a-big-stick-can-be-effective">earlier projection</a> of the S&amp;P 500 index rallying to 6,300 by year-end.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump">Trump Appoints Venture Capitalist David Sacks As White House Crypto And AI Czar: &#8216;He Will Work On A Legal Framework&#8217;</a>
Why It Matters: Earlier in the week, Lee had forecast Bitcoin&#8217;s rise above $100,000, which has now come to fruition.
He also projected the marquee digital asset to <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42257250/financial-analyst-says-bitcoin-could-soar-to-250000">hit a high of $250,000 by the end of 2025</a>, driven by potential legitimization in the U.S. and increased adoption.
Cryptocurrency advocates have high hopes that President-elect Donald Trump&#8217;s administration will be favorable for the industry. Meanwhile, the President-elect recently <a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump">appointed renowned venture capitalist</a> David Sacks as the first ever "White House AI &amp; Crypto Czar" on Thursday.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $60,860.32, down 3.35% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The S&amp;P 500 closed 0.19% lower to 6,075.11 during Thursday&#8217;s regular session.
Photo Courtesy: Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42356727/peter-schiff-challenges-jim-cramers-bullish-bitcoin-take-says-such-statements-are-made-at-market-tops">Peter Schiff Questions Jim Cramer&#8217;s Bullish Bitcoin Take As It Slumps From $100K: These Are Statements &#8216;Made At Market Tops&#8217;</a></li>
</ul>

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

Cryptocurrency

$BTC

Tom Lee Says Bitcoin's $100K Milestone Could Be A 'Precursor' For Bullish Stock Moves, Asks Investors To Stay Focused On A 'Christmas Santa Claus Rally'

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has decided to halt the development of its Inferentia AI chip, shifting its focus to the Trainium chip.
What Happened: This decision is part of Amazon&#8217;s broader strategy to enhance cost performance in AI model training, <a href="https://asia.nikkei.com/Business/Technology/Artificial-intelligence/Amazon-halts-Inferentia-AI-chip-development-as-it-takes-on-Nvidia">reported</a> Nikkei on Thursday.
Since it entered the AI chip market in 2018, Amazon Web Services has been offering both Inferentia and Trainium chips to AI companies.
See Also: <a href="https://www.benzinga.com/24/12/42256614/trumps-ai-czar-plans-alibabas-new-model-cathie-wood-on-tesla-ai-and-musks-combat-transformation-this-week-in-artificial-intelligence?itm_source=parsely-api">Trump&#8217;s AI Czar Plans, Alibaba&#8217;s New Model, Cathie Wood On Tesla AI, And Musk&#8217;s Combat Transformation: This Week In Artificial Intelligence</a>
However, Rahul Kulkarni, AWS&#8217;s director of compute, announced that the product lines will merge, with a focus on Trainium for both inference and training tasks.
Trainium is designed with a larger memory capacity and supports diverse data formats, enabling rapid computations across multiple servers.
"We can get to the same level of optimization and cost performance benefits by doubling down on Trainium as a single, unified product," Kulkarni stated.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: During a <a href="https://www.benzinga.com/24/12/42317004/amazon-launches-ai-war-againt-nvidia-by-building-ai-supercomputers-and-servers-at-cheaper-costs">tech event in Las Vegas</a>, Amazon unveiled the Trainium2 chip and announced plans for the Trainium3 chip, expected in 2025.
The Trainium3 will use a 3-nanometer chipmaking process, doubling Trainium2&#8217;s computing performance.
With this, Amazon aims to challenge Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which holds a 90% share in the AI chip market.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and AI startup Anthropic are <a href="https://www.benzinga.com/24/12/42309656/amazon-unleashes-powerful-ai-chip-clusters-to-supercharge-anthropics-models-while-challenging-nvidia-and-openais-dominance">among those adopting</a> Trainium2 for AI development.
In October, Amazon reported <a href="https://www.benzinga.com/24/12/42323943/amazon-emerges-as-top-analyst-pick-after-impressive-us-e-commerce-cyber-week-sales-growth">third-quarter net sales</a> of $158.9 billion, marking an 11% increase compared to the previous year. This performance surpassed the Street&#8217;s consensus forecast of $157.2 billion, as per <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent103124&amp;t=be2bearmibe3na1">data from Benzinga Pro</a>.
Price Action: Amazon's stock rose by 1.1% on Thursday, finishing at $220.55. In the after-hours session, it saw a dip of 0.1%, reaching $220.32. So far this year, Amazon shares have surged by 47.1%, significantly outperforming the Nasdaq 100 index, which gained 29.5% over the same period.
Amazon has a consensus price target of $238.16 from 38 analysts, with JMP Securities setting the highest target at $285 on Nov. 1. Latest ratings from Needham, BMO Capital, and MoffettNathanson indicate an average target of $244.67, implying an upside potential of 11.05%.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/24/12/42286671/apples-foldable-iphone-could-spark-smartphone-market-revival-in-2026-says-expert?itm_source=parsely-api">Apple&#8217;s Foldable iPhone Could Spark Smartphone Market Revival In 2026, Says Expert</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Amazon Halts Inferentia AI Chip Development To Take On Nvidia: How Trainium Is Shaping Up To Be The New Weapon In AI Chip Wars

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