에 대한 최신 뉴스 Destiny Tech100 (NYSE:DXYZ) 주식

Destiny Tech100 Inc is a non-diversified, closed-end management investment company. It invests in a portfolio of what is believed to be 100 of the top venture-backed private technology companies.

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뉴욕 증권 거래소(NYSE)의 여러 주식들은 기술적 문제로 인해 월요일 동부 표준시 오전 9시 40분 이후 갑자기 거래가 중단되었다. 이번 예상치 못한 거래 중단은 일반적으로 단일 주식의 과도한 변동성을 억제하는 데 사용되는 &#34;상향 한도(Limit Up)/하향 한도(Limit Down)&#34; 코드로 분류된 기술적 문제로 인해 촉발되었다.

버크셔 해서웨이, 치폴레 등 뉴욕 증권 거래소 기술적 문제로 일시 거래 중단 발생

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최근 출시된 폐쇄형 펀드인 데스티니 테크100(Destiny Tech100) (NYSE:DXYZ) 펀드는 2주 만에 최대 558%까지 급등하기도 했다.어떤 일이 있었나 (What Happened): 이 펀드는 3월 26일 뉴욕 증권거래소에 상장될 당시부터 유독 주목받아왔으며, 이로써 이 펀드의 시가총액은 6.44억달러까지 치솟았다.

스페이스X와 오픈AI에 투자하는 데스티니 테크100 펀드: 2주만에 500% 이상 급등

Destiny Tech100 Inc

In defiance of the market&#8217;s downturn, a memecoin built on the Solana blockchain, Billy (CRYPTO: BILLY), has experienced a significant surge, with its value increasing by nearly 147% in the last week.
What Happened: The value of Billy, a memecoin with a dog theme, has surged by nearly 147% in the last week, reaching $0.182. This surge in value comes after several cryptocurrency exchanges, including Bittrue, Bitget, MEXC, and Gate.io, added support for the coin, <a href="https://dailyhodl.com/2024/07/05/solana-based-memecoin-defies-market-downturn-jumps-over-30-in-24-hours-amid-listing-on-multiple-exchanges/">reported</a> The Daily Hodl.
Billy, which was launched in June, features a puppy image and has outperformed other popular meme coins during the current market consolidation phase, which has led to significant declines across the board, the report noted. 
Despite the market&#8217;s downturn, Billy&#8217;s market cap is currently at $181.8 million, with a 24-hour trading volume of $55.3 million, according to data from CoinMarketCap.
Why It Matters: Despite their often whimsical nature, meme coins have been gaining traction and demonstrating significant market resilience.
Other dog-theme assets such as Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) are trading at $0.00001538 and $0.1081 respectively as of the time of writing this article.
Other top-tier cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) have come under selling pressure over the past week &#8211; while Bitcoin has fallen over 7%, Ethereum declined by over 11%.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653852/elon-musk-pegs-fifth-starship-launch-for-first-week-of-august-spacex-expected-to-attempt-a-booster-l" target="_blank" rel="noreferrer noopener">Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time</a></li>
</ul>
Photo courtesy: @billydogsolana
 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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

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

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While Bitcoin, Ethereum, Shiba Inu Witness A Meltdown, This Solana-Based Memecoin Has Surged 147% In Last Week

EV maker Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has scrapped its return policy that allowed customers to return their <a href="https://www.benzinga.com/markets/equities/24/07/39595729/why-rivian-automotive-shares-are-gaining-tuesday">new vehicle </a>in 7 days if it does not meet their needs.
What Happened: Rivian previously allowed new customers to return their new vehicles within 7 days or 1000 miles if it doesn&#8217;t meet their needs. The webpage referring to the policy has now been taken down.
A Rivian spokesperson told <a href="https://pro.benzinga.com/dashboard">Benzinga</a> in a statement that the company launched the 7-day return policy to reassure customers who were unfamiliar with the brand and its products. However, since then, the company has scaled its network of Service Centers and demo drive fleet across the United States and Canada so that customers can test drive before purchase, they said.
The company now says on its website that Rivian vehicles do not have a return policy. The company instead urges customers to schedule demo drives and test the vehicle before making the purchase. 
&#8220;We encourage our customers to get behind the wheel by&nbsp;scheduling a demo drive. You'll also have the opportunity to do a vehicle walk-around with a delivery specialist prior to accepting delivery, and are covered by Rivian's industry-leading warranties,&#8221; the company support page now reads.
Why It Matters: Rivian currently has two vehicles in production, the R1T truck and the R1S SUV, both priced at around $70,000. The company has been accumulating losses for every vehicle it delivered until the first quarter of 2024 when it made a loss of nearly $39,000 for each of the 13,588 vehicles it sold.
Rivian is looking to turn its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594501/from-volkswagen-partnership-to-trimming-costs-and-introducing-cheaper-evs-rivian-st">first-ever quarterly gross profit</a> in the fourth quarter of 2024 and has been making moves aimed at cutting costs. The possible cancellation of the return policy might also be aimed at that end.
Last month, Rivian announced its intent to form a joint venture with Volkswagen aimed at creating software-defined vehicle platforms to be used in both players&#8217; future electric vehicles starting in the second half of the decade.
As part of the <a href="https://www.benzinga.com/markets/equities/24/06/39559280/rivian-volkswagen-partnership-a-game-changer-says-one-analyst-a-mystery-says-another">terms of the deal</a>, Volkswagen will initially invest $1 billion in Rivian and then up to $4 billion until 2026. Both companies shall hold a 50% stake in the JV which is expected to be formed by the fourth quarter of 2024.&nbsp;
Check out more of Benzinga&#8217;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 More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653934/tesla-ceo-elon-musk-considers-building-replica-of-tars-from-interstellar-in-addition-to-optimus-woul">Tesla CEO Elon Musk Considers Building Replica Of TARS From Interstellar In Addition To Optimus: &#8216;Would Be So Cute&#8217;</a></li>
</ul>
Photo courtesy: Rivian

RIVN

Rivian Cancels 7-Day Vehicle Return Policy, Urges Customers To Do Test Drives And Walk-Arounds Instead

American basketball player Trae Young has seemingly taken delivery of a Tesla Inc <a href="https://www.benzinga.com/news/24/07/39646347/tesla-hints-cybertruck-was-most-sold-ev-truck-in-us-in-q2-but-elon-musks-company-has-not-released-da">Cybertruck</a> and wrapped it in a blue resemblant of snow and winters. 
What Happened: Young shared pictures of his blue-wrapped Cybertruck on X and Instagram on Friday. The pictures were captioned &#8216;Sometimes you gotta pop out….,&#8217; from rapper Kendrick Lamar&#8216;s popular song &#8216;Not Like Us.&#8217; 
Young also nicknamed his truck the &#8216;SnowMobile&#8217; after Batman&#8217;s bat-themed Batmobile. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Sometimes you gotta pop out…."&#x1f499;&#x2744;&#xFE0F;<a href="https://twitter.com/hashtag/SnowMobile?src=hash&amp;ref_src=twsrc%5Etfw">#SnowMobile</a> <a href="https://t.co/bhA4OGJhqc">pic.twitter.com/bhA4OGJhqc</a>
&mdash; Trae Young (@TheTraeYoung) <a href="https://twitter.com/TheTraeYoung/status/1809333469161697705?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
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The Cybertruck&#8217;s stainless steel body allows no exterior paint. However, customers can wrap the truck, either with wraps available at Tesla&#8217;s online shop, or more individualistic wraps from third-party customizers.
Rapper Lil Baby showcased his <a href="https://www.benzinga.com/news/24/07/39613831/elon-musk-thinks-cybertruck-wrap-resembling-marvel-superhero-deadpool-looks-cool">red-wrapped Cybertruck</a> on Instagram over the week, resembling Marvel superhero Deadpool with intermittent black in its body and wheels.
The rapper, however, was seemingly going for a big, angular red apple. Footballer Isaiah Simmons also recently took delivery of a Cybertruck and wrapped it in matte white with white wheel caps which Tesla CEO Elon Musk commended as &#8216;Nice.&#8217;
Why It Matters: Tesla started delivering the Cybertruck in November. Since then, several celebrities and popular names have taken delivery of it including&nbsp;Justin Bieber,&nbsp;Jay-Z&nbsp;and&nbsp;Beyonce,&nbsp;Serena Williams, and&nbsp;Lady Gaga.
The celebrity status of the Cybertruck is likely due to the vehicle&#8217;s unconventional design, high price point, and the few units available on the road. The vehicle pricing starts at $79,990 for the all-wheel drive version and $99,990 for the more premium Cyberbeast version.
A lower-priced rear-wheel drive version of the truck will be <a href="https://www.benzinga.com/news/24/04/38130429/new-cybertruck-orders-will-only-be-delivered-in-2025-says-tesla-website" target="_blank" rel="noreferrer noopener">available in 2025</a>, as per the company website, starting at $60,990.
Tesla is currently scaling the production of the Cybertruck and aims to make 250,000 annually by 2025. For now, the company has touched a weekly production rate of 1,300 Cybertrucks, Musk said at Tesla's annual shareholder meeting earlier this month. The EV maker is looking to increase it further this year to touch 2,500 units by year-end,<a href="https://www.benzinga.com/news/24/06/39330272/tesla-ramping-up-cybertruck-production-to-touch-2-500-units-per-week-non-foundation-series-to-start" target="_blank" rel="noreferrer noopener">&nbsp;he added</a>.
Check out more of Benzinga&#8217;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 More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653852/elon-musk-pegs-fifth-starship-launch-for-first-week-of-august-spacex-expected-to-attempt-a-booster-l" target="_blank" rel="noreferrer noopener">Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time</a></li>
</ul>
Photo courtesy: Shutterstock

Sports

Basketball Player Trae Young Now Drives A Blue Wrapped Cybertruck Nicknamed 'SnowMobile'

Former President Donald Trump has publicly disavowed any connection to the contentious "Project 2025," despite the project&#8217;s ties to his <a href="https://www.benzinga.com/news/24/07/39641760/biden-vs-trump-incumbent-trails-by-widest-margin-in-this-election-cycle-but-more-than-half-unenthusi">potential second-term administration</a>.
What Happened: According to a Reuters report on Saturday, Trump has renounced any association with Project 2025, an initiative led by the Heritage Foundation, a prominent conservative think tank.
The project has faced criticism from Democrats, who claim it outlines an extreme policy agenda for a potential second Trump term.
Several individuals involved in Project 2025 have previously worked in the Trump administration and are expected to return should he win the November election.
However, Trump refuted any connection to the project on his Truth Social platform, stating, &#8220;I know nothing about Project 2025. I have no idea who is behind it.&#8221;
"I disagree with some of the things they're saying and some of the things they're saying are absolutely ridiculous and abysmal," he said while wishing them "luck."
Trump&#8217;s distancing from the project comes three days after Heritage Foundation president Kevin Roberts&#8217; comments about a second American Revolution on Steve Bannon&#8217;s &#8220;War Room&#8221; podcast. These remarks were widely criticized as a veiled threat of violence.
Read Also: <a href="https://www.benzinga.com/news/24/07/39653837/biden-asserts-he-is-not-pulling-out-of-presidential-race-says-only-lord-almighty-could-force-him">Biden Asserts He Is Not Pulling Out Of Presidential Race, Says Only &#8216;Lord Almighty&#8217; Could Force Him</a>
Political science professor James Wallner suggests that Trump&#8217;s move could be an attempt to moderate his message in the final months of the race, especially as opponent Joe Biden&#8217;s campaign <a href="https://www.benzinga.com/general/politics/24/07/39652860/biden-should-step-aside-say-business-leaders-including-walmart-heir">appears to be faltering</a>.
The Biden campaign has been linking Trump&#8217;s campaign to Project 2025, with campaign spokesperson Ammar Moussa stating, "Project 2025 is the extreme policy and personnel playbook for Trump's second term that should scare the hell out of the American people."
Why It Matters: Trump&#8217;s disassociation from Project 2025 comes at a time when his opponent is facing criticism over his recent <a href="https://www.benzinga.com/news/24/07/39653890/biden-dismisses-health-concerns-defends-poor-debate-performance-amid-calls-to-withdraw-from-2024-rac">poor debate performance</a>. Biden, however, has dismissed health concerns and defended his performance, attributing it to exhaustion and cold, rather than a serious health condition.
Furthermore, Trump has recently made <a href="https://www.benzinga.com/news/24/07/39638541/trumps-unfounded-claims-kamala-harris-stir-controversy-shes-so-bad-shes-so-pathetic">unfounded allegations</a> about Biden and Vice President Kamala Harris, causing controversy.
Despite this, a new poll shows Biden still <a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc">very much in the race</a>, with both candidates receiving 40% support each.
Read Next:
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<li><a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi Loads Up On More Nvidia Shares, Sells Tesla: &#8216;She Always Reports Right Before A Holiday&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Politics

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Trump Distances Himself From 'Project 2025' Amid Rising Controversy: 'I Know Nothing'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull Gary Black on Friday raised his price target on the EV giant&#8217;s shares from $200 to $270 in addition to revising his estimates for the company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">full-year vehicle delivery volume</a> and earnings per share.
What Happened: The Future Fund Managing Partner increased his adjusted EPS (earnings per share) estimate for 2024 to $2.4 from $2.2 while adding that Tesla will likely deliver 1,707,000 vehicles for the whole year, down from the 1,808,581 units delivered in 2023.
Despite the increase, Black&#8217;s estimates are still behind Wall Street estimates of an adjusted EPS of $2.46 and deliveries of 1,804,000 units for the year. 
For 2030, however, Black is more optimistic. The analyst now estimates an adjusted EPS of $15 for Tesla in 2030, up from his previous $14.5 estimate, and much higher than Wall Street estimate of $12. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We have increased our <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> PT to $270 from $200. Attached is our updated forecast of <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> delivs, margins, and earnings vs WS ests. We've increased our <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> 2024 Adj EPS to $2.40 (from $2.20). Our 2024 volume forecast is now 1,707 (-6% vs 2023). We are slightly below WS… <a href="https://t.co/xZ8rzeaUGf">pic.twitter.com/xZ8rzeaUGf</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1809363723678556553?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
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The long-term estimate revision is based on several upsides Black sees for Tesla including an increase in global EV adoption rate by 2030, an increase in take rate for Tesla&#8217;s full self-driving driver assistance technology, and also a hike in gross profits from the company&#8217;s energy storage segment.
Black, however, assumed no incremental value for either Tesla&#8217;s upcoming robotaxi or its humanoid robot Optimus in a move that he acknowledged as &#8220;ultra-conservative.&#8221;
Why It Matters: Black&#8217;s revision comes at a time when Tesla&#8217;s stock is on the rise. The company's second-quarter delivery numbers beat estimates,&nbsp;<a href="https://www.benzinga.com/trading-ideas/24/07/39605521/stock-of-the-day-teslas-q2-deliveries-spark-rally-will-resistance-halt-the-climb" target="_blank" rel="noreferrer noopener">igniting a stock rally</a> and reversing losses so far this year. 
Talking about the recent rally, former Ford Motor Co. CEO Mark Fields said in an appearance on CNBC, &#8220;I think what&#8217;s ironic is that Musk has been- Musk wants Tesla to be a robotics and AI company, but their stock turnaround was driven by the autos.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Deliveries beat expectations and their energy storage business was better than expected," says former Ford CEO <a href="https://twitter.com/mfields?ref_src=twsrc%5Etfw">@mfields</a> on the recent Tesla stock rally. "Elon Musk wants Tesla to be a robotics and AI company, but their stock turnaround was driven by the autos." <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/WQvFauJe3K">pic.twitter.com/WQvFauJe3K</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1809370181585588639?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
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Fields is referring to Tesla CEO Elon Musk&#8216;s attempts to turn Tesla into an AI, robotics, and sustainable energy company in addition to an automaker with an increased push toward diverse fields such as robotics, energy storage, and autonomous driving.
Price Action: Tesla shares closed up 2.1% at $251.52 on Friday. The stock is up 1.25% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. 
Check out more of Benzinga&#8217;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 More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653852/elon-musk-pegs-fifth-starship-launch-for-first-week-of-august-spacex-expected-to-attempt-a-booster-l">Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time</a></li>
</ul>
Photos courtesy: Shutterstock

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TSLA

Gary Black Raises Tesla Price Target As Ex-Ford CEO Notes Irony of Auto-Driven Stock Rally Amid Elon Musk's AI And Robotics Focus

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has approved the marketplace app of Epic Games, the creator of &#8220;Fortnite,&#8221; for iPhones and iPads in Europe. This move comes amid a <a href="https://www.benzinga.com/news/24/07/39646883/fortnite-maker-epic-games-accuses-apple-of-blocking-its-game-store-launch">continuing conflict</a> between the two tech behemoths.
What Happened: Apple&#8217;s approval follows accusations from Epic Games that Apple was hindering its attempts to launch a games store on Apple devices. 
The tech giant stated that the dispute is centered around&nbsp;the Epic Sweden AB Marketplace&nbsp;and is not related to Epic&#8217;s Fortnite app, which Apple has already approved, reported Reuters.
Epic Games had earlier alleged that Apple had <a href="https://www.benzinga.com/news/24/07/39646883/fortnite-maker-epic-games-accuses-apple-of-blocking-its-game-store-launch">twice rejected its application&nbsp;to launch</a> the Epic Games&nbsp;Store due to similarities in&nbsp;the design of certain buttons&nbsp;and labels with those used by Apple&#8217;s App Store.&nbsp;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
&#8220;Apple&#8217;s rejection is arbitrary, obstructive,&nbsp;and in violation of the&nbsp;DMA (Digital Markets Act), and&nbsp;we&#8217;ve shared our concerns with&nbsp;the European Commission,&#8221; Epic said in a series of posts on X.
Why It Matters: The European Commission, which began an investigation into Apple&#8217;s app validation processes and alternative app store sideloading last month, has yet to comment on the issue. 
The feud between Apple and Epic Games began in <a href="https://www.benzinga.com/general/gaming/23/12/36210791/how-did-epic-games-showdown-with-google-differ-from-apple-ceo-tim-sweeney-says-it-was-like-ice-and">2020 when Epic claimed that&nbsp;Apple&#8217;s practice</a> of charging up&nbsp;to 30% commissions on in-app&nbsp;payments on its iOS devices violated U.S. antitrust laws.
Earlier this year, Apple proposed changes to its App Store policies to comply with specific directives of the DMA, which came into effect in March. These changes permitted alternative app stores on iPhones and allowed users to opt out of using the in-app payment system.
However, Apple introduced a &#8220;core technology fee,&#8221; which many developers <a href="https://www.benzinga.com/news/24/01/36805331/apples-alternative-app-store-model-in-the-eu-could-potentially-cost-meta-others-millions-of-dollars">have criticized as exploitative</a>.
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:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/06/39564817/apple-rejects-metas-ai-integration-proposal-ex-employee-accuses-iphone-maker-of-chemical-exposure-an?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Rejects Meta&#8217;s AI Integration Proposal, Ex-Employee Accuses iPhone-Maker Of Chemical Exposure And More: This Week In Appleverse</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AAPL

Apple Approves Epic Games' Marketplace App In Europe Amid Ongoing Feud

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has received a rare downgrade from New Street Research, with the analyst citing concerns about the <a href="https://www.benzinga.com/news/24/06/39412234/nvidias-rise-resembles-dot-com-boom-era-but-former-cisco-ceo-says-things-are-different-this-time">stock&#8217;s overvaluation</a>.
What Happened: New Street Research analyst Pierre Ferragu downgraded Nvidia&#8217;s stock from buy to neutral, citing that the stock is "getting fully valued" after a remarkable 161% surge this year to date. The stock had previously seen a gain of almost 240% in 2023.
Ferragu expressed doubt about any additional upside, stating that it would only materialize in a bull case, which is not yet certain. He also warned of a potential risk of derating if the current outlook remains unchanged.
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Despite the AI frenzy, Ferragu notes that there is a normalization when it comes to demand for Nvidia's AI-oriented graphics processing units, or GPUs.
"When you listen to clients of Nvidia, we see demand is completely in line with expectations," said Ferragu in an interview with CNBC.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39646688/tech-bull-shares-top-stock-picks-for-second-half-of-2024-after-ai-fueled-rally-do-y">Tech Bull Shares Top Stock Picks For Second Half Of 2024 After AI-Fueled Rally: Do You Own These Stocks?</a>
Despite the downgrade, Nvidia remains the <a href="https://www.benzinga.com/24/07/39640232/jim-cramer-shuns-this-stock-but-it-has-left-nvidia-super-micro-biting-the-dust-on-one-year-returns">second-best performer</a> among S&amp;P 500 components this year, trailing Super Micro Computer Inc., another AI investor favorite. The company&#8217;s market capitalization has increased by almost $1.9 trillion, briefly making it the world&#8217;s largest company.
Why It Matters: The recent surge in the U.S. stock market, largely driven by the promise of artificial intelligence, has drawn comparisons to the dot-com bubble of the late 1990s.
This has raised concerns about <a href="https://www.benzinga.com/markets/equities/24/07/39589689/ai-boom-spurs-nvidia-led-us-stock-market-rally-experts-draw-parallels-with-dotcom-bubble-no-one-">another overvaluation scenario</a>, as the market is currently dominated by a small group of tech giants, with Nvidia among the top performers.
Despite the downgrade, New Street Research is positive on both Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Taiwan Semiconductor Manufacturing Co Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>), citing their growth trends and valuations.
AMD and TSMC are &#8220;the best names to own in the group, offering strong upside in both in our base and high scenarios,&#8221; New Street said in a note, adding that among other stocks with AI exposure, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Arista Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) all &#8220;remain attractively valued.&#8221;
Nvidia CEO Jensen Huang has been offloading the company's stock, <a href="https://www.benzinga.com/markets/equities/24/07/39611550/nvidia-ceo-jensen-huang-sells-over-29m-worth-of-shares-as-companys-stock-shoots-up-155-in-2024-a">selling over $29 million worth of shares</a> amid the 161% surge in 2024.
This rise has led to Nvidia&#8217;s market value exceeding $3 trillion, underscoring the company&#8217;s dominant position in the tech industry.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"For the first time, we think Nvidia might not exceed expectations," says Newstreet Research's <a href="https://twitter.com/p_ferragu?ref_src=twsrc%5Etfw">@p_ferragu</a> on his decision to downgrade Nvidia to neutral. "When you listen to clients of Nvidia, we see demand is completely in line with expectations." <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> <a href="https://t.co/r7NqJ4rW5a">pic.twitter.com/r7NqJ4rW5a</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1809369947484594317?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
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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:
<a href="https://www.benzinga.com/news/24/07/39644569/key-nvidia-supplier-sk-hynix-to-get-further-boost-from-ai-demand-even-after-90-stock-surge-goldman-s">Key Nvidia Supplier SK Hynix To Get Further Boost From AI Demand Even After 90% Stock Surge, Goldman Sachs And Citi Predict</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Downgrades

ANET

AVGO

NVDA

TSMC

Nvidia Gets Rare Downgrade Over Concerns That Demand Is Normalizing 'In Line With Expectations:' Stock 'Getting Fully Valued'

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Friday teased making a robot resembling TARS from the Christopher Nolan movie Interstellar, in addition to its <a href="https://www.benzinga.com/news/24/06/39327644/tesla-ceo-elon-musk-eyes-25-trillion-market-cap-with-optimus-bot-admits-to-being-pathologically-opti">humanoid robot Optimus.</a>
What Happened: &#8220;Maybe Tesla should built it. Would be so cute,&#8221; Musk wrote on X. The CEO was responding to a video of a functional, walking TARS replica. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Maybe Tesla should built it. Would be so cute.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809380365464723964?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
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Musk is currently attempting to make Tesla a robotics, AI, and sustainable energy company in addition to an automaker with an increased push toward diverse fields such as robotics, energy storage, and autonomous driving. The company is already developing a humanoid robot by the name of Optimus.
Optimus, however, is very different from TARS. While the fictional robot has a cuboidal structure with moving cuboidal parts, Optimus resembles a human with moving hands capable of performing tasks around a factory. 
Two Optimus bots are currently employed in Tesla's Fremont factory, taking cells off the end of the production line and placing them in containers, Musk confirmed in early June. 
Why It Matters: During Tesla's annual shareholder meeting in June, Musk said that there will be at least <a href="https://www.benzinga.com/news/24/06/39246781/elon-musk-thinks-humanoid-robots-will-one-day-exceed-human-population-from-nvidias-project-gr00t-to" target="_blank" rel="noreferrer noopener">one humanoid robot</a> for every person in the world in the future, implying a total humanoid robot population of at least 10 billion or more, of which the EV company will have a significant share.
&#8220;While autonomous vehicle is a $5-$7 trillion market cap situation, <a href="https://www.benzinga.com/news/24/06/39327644/tesla-ceo-elon-musk-eyes-25-trillion-market-cap-with-optimus-bot-admits-to-being-pathologically-opti">Optimus is a $25 trillion market cap situation</a>,&#8221; Musk, who is known to over-hype his company&#8217;s products, then said. The CEO himself admitted that he is &#8220;pathologically optimistic&#8221; but delivers in the end.
Following a major hardware revision by the end of this year or early next year, Tesla expects to commence limited production of the <a href="https://www.benzinga.com/news/24/06/39307242/tesla-says-optimus-bots-are-now-performing-autonomous-tasks-at-its-factory-3-years-after-introductio">Optimus to work in its factories</a> and test its capabilities, the CEO added.
Tesla also plans to unveil its dedicated robotaxi product on Aug. 8. The CEO, in April, said that dedicating to autonomous driving is a &#8220;blindly obvious move&#8221; for Tesla.
&#8220;Even if I got kidnapped by aliens tomorrow, Tesla&nbsp;will&nbsp;solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least,&#8221;&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" target="_blank" rel="noreferrer noopener">Musk said</a>&nbsp;at the company's first-quarter earnings call. &#8220;If somebody doesn&#8217;t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.&#8221;
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 More:
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<li><a href="https://www.benzinga.com/news/24/07/39646347/tesla-hints-cybertruck-was-most-sold-ev-truck-in-us-in-q2-but-elon-musks-company-has-not-released-da">Tesla Hints Cybertruck Was Most Sold EV Truck In US In Q2, But Elon Musk&#8217;s Company Has Not Released Data To Back It Up</a></li>
</ul>
Image made via photos on Shutterstock

Tesla CEO Elon Musk Considers Building Replica Of TARS From Interstellar In Addition To Optimus: 'Would Be So Cute'

Amid growing <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam">calls for his withdrawal</a> from the 2024 presidential race, President Joe Biden has defended his recent poor debate performance, attributing it to exhaustion and cold, rather than a serious health condition.
What Happened: In his first interview since the debate, Biden <a href="https://abcnews.go.com/Politics/exhausted-bad-episode-biden-doubles-debate-explanations-abc/story?id=111695168">told</a> ABC News&#8217; George Stephanopoulos on Friday, that he felt terrible before the event.
&#8220;It was a bad episode. No indication of any serious condition. I was exhausted.&#8221;
Stephanopoulos questioned the timing, noting&nbsp;that Biden had spent six&nbsp;days at Camp David preparing&nbsp;for the debate. Biden revealed that&nbsp;he thought he had COVID-19.&nbsp;
&#8220;Because&nbsp;I was sick, I was&nbsp;feeling terrible. A matter of&nbsp;fact, the doc was with&nbsp;me — I asked if&nbsp;they did a COVID test&nbsp;because I was trying to&nbsp;figure out what's wrong,&#8221; Biden said. However, the test came back negative.
See Also: <a href="https://www.benzinga.com/news/24/07/39638437/edward-snowden-reminds-americans-about-origins-of-the-fourth-of-july-holiday-shooting-at-the-governm?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Reminds Americans About Origins Of The Fourth Of July Holiday: &#8216;Shooting At The Government&#8217;</a>
The president also refuted claims that he had&nbsp;listened back to the debate and accused former President Donald Trump of lying 28 times during the event. 
Why It Matters: During the debate, Biden&#8217;s&nbsp;soft and raspy voice and&nbsp;his struggle to complete sentences raised concerns about his health. The White House initially attributed his performance to a cold, <a href="https://www.benzinga.com/news/24/07/39610890/biden-blames-jet-lag-for-subpar-debate-performance-i-decided-to-travel-around-the-world-a-couple-tim">later blaming it on recent foreign travel</a>.
Biden&#8217;s poor performance in the debate has led to increased speculation about his 2024 re-election bid. <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">A recent poll</a> revealed a decline in voters' confidence in Biden‘s mental and physical fitness. Despite this, Biden remains committed to the presidential race, even as calls <a href="https://www.benzinga.com/general/politics/24/07/39653056/trump-vs-biden-former-president-retakes-lead-in-2024-election-poll-after-debate-more-voters-see-">for him to step down have grown.</a>
His performance has been attributed to a series of missteps by his top advisors, <a href="https://www.benzinga.com/news/24/06/39566647/joe-bidens-disastrous-debate-performance-blamed-on-bad-preparation-what-a-bad-decision-to-send-him-o">including a lack of rest and poor preparation</a>. Biden himself has previously attributed his lackluster performance to jet lag from his recent overseas trips.
&#8220;I didn&#8217;t have my best night, but the fact is that you know, I wasn&#8217;t very smart. I decided to travel around the world a couple times, going through around 100 time zones … before … the debate,&#8221; he said last week.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Odds Of Kamala Harris Replacing Joe Biden As Democratic Presidential Candidate Raised By Crypto Bettors, Memecoin Themed On Her Surges 126%</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Biden Dismisses Health Concerns, Defends Poor Debate Performance Amid Calls To Withdraw From 2024 Race: 'It Was A Bad Episode. No Indication Of Any Serious Condition. I Was Exhausted'

President Joe Biden took to X, formerly Twitter, on Friday to congratulate Keir Starmer on becoming the new <a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">U.K. Prime Minister</a>.
What Happened: &#8220;Congratulations to Prime Minister Keir Starmer on becoming Prime Minister of the United Kingdom,&#8221; Biden wrote in a post on X. &#8220;I look forward to our shared work in support of freedom and democracy around the world, and to further strengthening the special relationship between our two countries.&#8221;
This is the first reaction from Biden on X to the U.K.&#8217;s newly elected prime minister.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations to Prime Minister Keir Starmer on becoming Prime Minister of the United Kingdom. I look forward to our shared work in support of freedom and democracy around the world, and to further strengthening the special relationship between our two countries.
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1809278569480126549?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
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According to a statement from the White House, Biden also spoke with Starmer on Friday and the two leaders reiterated their continued support for Ukraine against Russia. They also affirmed their commitment to working with the leaders of Northern Ireland to create and sustain economic growth and opportunities.
Why It Matters: Keir Starmer-led Labour Party bagged a historic win in the 2024 <a href="https://www.benzinga.com/markets/eurozone/24/05/39048040/uk-election-how-it-works-and-which-markets-could-be-affected">U.K. General Elections</a> over the outgoing Prime Minister&nbsp;Rishi Sunak-led Conservative Party.
The electorate not only handed the party a resounding win after more than ten years of Conservative governance but also the monumental task of revitalizing a stagnant economy and a disillusioned nation.
&#8220;We said we would turn the page, and we have. Today we start the next chapter. begin the work of change, the mission of national renewal, and start to rebuild our country,&#8221; Starmer said in his victory speech to supporters in London. Starmer also promised to put &#8220;country first, party second&#8221; in his victory speech.
Starmer will attend the NATO Summit in Washington D.C. next week. Biden and Starmer will meet in person then. 
Related Link:
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</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock and Flickr

Global

Biden Congratulates Keir Starmer On Becoming UK Prime Minister: 'Look Forward To Our Shared Work...'

SpaceX CEO Elon Musk said on Friday that the fifth flight of its <a href="https://www.benzinga.com/news/24/06/39455125/spacex-gambled-with-starships-reentry-method-says-senior-exec-there-was-still-a-chance-that-this-wou">ambitious Starship launch vehicle </a>will be in the next 4 weeks. For the next test, the company is expected to attempt landing Starship&#8217;s booster back at Starbase instead of splashing it down in the Gulf of Mexico like last time.
What Happened: &#8220;Flight 5 in 4 weeks,&#8221; Musk said on X, formerly Twitter, pegging the next Starship launch around for around Aug. 2.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Flight 5 in 4 weeks <a href="https://t.co/K7pfdujrqx">https://t.co/K7pfdujrqx</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809381756199661879?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
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SpaceX <a href="https://www.benzinga.com/news/24/06/39226248/elon-musk-outlines-future-starship-goals-after-successful-fourth-flight-test">last launched Starship</a> in the first half of June. During the test, the two stages of the vehicle &#8211; the Starship spacecraft and the Super Heavy booster &#8211; separated and the booster subsequently had a soft splashdown in the Gulf of Mexico.
The spacecraft ignited its engines and went into space, made a controlled re-entry to Earth, and had a soft splashdown in the Indian Ocean. The entire flight lasted one hour and six minutes from launch. The key object of the flight was to re-enter Earth and the mission achieved it while withstanding damage to the vehicle.
The flights before accomplished less. While the spacecraft failed to reach space in the first flight, it reached space and exploded in the second test flight. During the third flight test, the spacecraft broke apart when re-entering Earth's atmosphere from space.
The goal for the next test flight, however, is to catch the <a href="https://www.benzinga.com/news/24/06/39543299/spacex-preparing-to-catch-starship-booster-at-starbase-during-next-test-flight-instead-of-splashing">booster back at Starbase</a> using the launch tower's mechanical arms, marking a significant demonstration of Starship&#8217;s reusability.
Why It Matters: SpaceX is currently looking to ensure full reusability for its Starship rocket. Reuse of rockets, the company believes, is integral to bringing down the costs of spaceflight as the most cost is taken up in building the launch vehicle.
Starship is touted as the world's most powerful launch vehicle, standing 121 meters tall and weighing approximately 5,000 tonnes. SpaceX is expected to have at least six test flights of the Starship this year, as per CEO&nbsp;Elon Musk‘s latest estimate from March.&nbsp;
NASA is currently relying on the success of Starship to&nbsp;<a href="https://www.benzinga.com/news/23/12/36296253/51-years-since-apollo-17-elon-musk-urges-humanity-to-surpass-moon-visit-as-civilizational-high-water" target="_blank" rel="noreferrer noopener">land humans back on the moon</a>&nbsp;as part of its Artemis program. The last crewed lunar mission occurred in 1972 with Apollo 17. Since then, no crew has traveled beyond low-Earth orbit.
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 More:
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<li><a href="https://www.benzinga.com/news/24/07/39639542/palantir-chair-peter-thiel-praises-elon-musks-risk-taking-ability-regrets-not-investing-in-tesla-the">Palantir Chair Peter Thiel Praises Elon Musk&#8217;s Risk-Taking Ability, Regrets Not Investing In Tesla: &#8216;There&#8217;s Something About Risk He Knows That We Don&#8217;t&#8217;</a></li>
</ul>
Photo via Shutterstock

Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time

President Joe Biden reaffirmed his determination to continue his presidential bid, <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">despite mounting concerns</a> within his party about his ability to secure another term.
What Happened: During the <a href="https://abcnews.go.com/Politics/biden-dismisses-concerns-mental-fitness-hed-drop-lord/story?id=111695174">interview</a> with ABC News, Biden, 81, described his debate against former President Donald Trump as a &#8220;bad episode.&#8221; He admitted to being &#8220;exhausted&#8221; and unprepared for the debate.
When asked if he was being realistic in his belief that he could beat Trump, Biden responded, &#8220;I don&#8217;t think anyone is more qualified.&#8221; He dismissed the widening polls between the two candidates as inaccurate.
Despite growing concerns from elected Democrats, Biden remained firm in his belief that he was the candidate to beat Trump in the November election.
He was also questioned about whether he would drop out if fellow Democrats in Congress said he was hurting their re-election chances in November. Biden responded, &#8220;If the Lord Almighty comes out and tells me that I might do that.&#8221;
Read Also: <a href="https://www.benzinga.com/news/24/01/36795199/trumps-mental-health-in-decline-amid-mounting-legal-woes-says-george-conway-he-knows-deep-down-that?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mental Health In Decline Amid Mounting Legal Woes: George Conway</a>
When asked about his health, Biden said he was feeling terrible on the night of the debate and had a bad cold. He insisted that he was not frail and that he had a cognitive test every single day.
Earlier on Friday, Biden told a crowd in a fiery speech in Madison that some Democrats were <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">trying to push him out of the race</a> in the wake of the debate with Trump. However, he said during the interview that senior Democrats would not ask him to step aside.
Why It Matters: Biden&#8217;s determination to continue his presidential bid comes amid a growing push from within his party for him to step down. The latest Morning Consult poll, conducted after the first presidential debate, saw <a href="https://www.benzinga.com/general/politics/24/07/39653056/trump-vs-biden-former-president-retakes-lead-in-2024-election-poll-after-debate-more-voters-see-">Trump retake his lead</a>.
Former Obama administration official, Van Jones, has indicated that <a href="https://www.benzinga.com/news/24/07/39638455/obama-era-official-says-democrats-discussing-how-to-replace-biden-full-scale-panic-behind-the-scenes">Democrats are privately considering the replacement of President Biden</a>. Jones disclosed that the internal discussion among Democrats is focused on "how" to replace Biden, not "whether". He added that the Democrats defending Biden publicly are having "completely different" discussions behind closed doors.
Despite the growing calls for his withdrawal, Biden <a href="https://www.benzinga.com/news/24/07/39640413/im-not-going-anywhere-biden-rebuffs-calls-for-withdrawal-from-presidential-election-during-fourth-of">reiterated his commitment to stay in the race</a> during the Fourth of July celebrations. As he mingled with guests, a voice called out for him to "Keep up the fight."
Read Next:
<a href="https://www.benzinga.com/23/09/34563432/mike-pence-recalls-joe-bidens-job-advice-im-very-proud-of-the-relationship-i-had-with-president-trum?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mike Pence Recalls Joe Biden&#8217;s VP Advice: &#8216;Very Proud Of Relationship With Trump&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Biden Asserts He Is Not Pulling Out Of Presidential Race, Says Only 'Lord Almighty' Could Force Him

CJET

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

WEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEX#NYSE">WEX</a>) has outperformed the market over the past 15 years by 30.84% on an annualized basis producing an average annual return of 43.72%. Currently, WEX has a market capitalization of $7.44 billion. 
Buying $100 In WEX: If an investor had bought $100 of WEX stock 15 years ago, it would be worth $23,055.84 today based on a price of $177.53 for WEX at the time of writing.
<h3>WEX's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720215026_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $100 In This Stock 15 Years Ago, You Would Have $23,000 Today

Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) has outperformed the market over the past 10 years by 3.57% on an annualized basis producing an average annual return of 14.51%. Currently, Blackstone has a market capitalization of $92.14 billion. 
Buying $100 In BX: If an investor had bought $100 of BX stock 10 years ago, it would be worth $380.79 today based on a price of $122.60 for BX at the time of writing.
<h3>Blackstone's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720215021_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Blackstone Stock In The Last 10 Years

Calls for President Joe Biden <a href="https://www.benzinga.com/news/24/06/39540588/joe-bidens-debate-performance-triggers-democratic-panic-biden-sounds-hoarse-looks-tired-and-is-babbl">to step down</a> ahead of <a href="https://www.benzinga.com/topic/2024-electionhttps://www.benzinga.com/topic/2024-election">the 2024 election</a> and make way for another candidate, such as Vice President Kamala Harris, have grown. Yet, Biden remains vocally committed to the <a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc">presidential race as of Friday</a>.
Meanwhile, the latest Morning Consult poll, conducted after the first presidential debate, saw Ex-President and presumptive GOP nominee Donald Trump retake his lead.
What Happened: The new <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll </a>of nationally registered voters shows the following results, with the results from <a href="https://www.benzinga.com/general/politics/24/06/39538536/trump-vs-biden-2024-presidential-candidates-tied-ahead-of-first-debate-abortion-hits-high-for-be">the June 25 poll</a> in parentheses:
<ul>
<li>Joe Biden: 43% (44%)</li>
<li>Donald Trump: 44% (44%)</li>
<li>Someone Else: 8% (8%)</li>
<li>Don't Know: 5% (4%)</li>
</ul>
Of the Democratic voters polled, 87% have Biden as their top pick. That&#8217;s in line with the previous poll. Eighty-nine percent of Republican voters polled have Trump as their top pick, which is in line with the previous poll.
Independent voters, who could decide the election, selected their 2024 pick as follows, with the June 25 results in parentheses:
<ul>
<li>Joe Biden: 33% (34%)</li>
<li>Donald Trump: 37% (37%)</li>
<li>Someone Else: 18% (18%)</li>
<li>Don't Know: 12% (11%)</li>
</ul>
Read Also:<a href="https://www.benzinga.com/general/politics/24/06/39558557/kamala-harris-defends-bidens-slow-start-at-debate-with-strong-finish-clinton-newsom-obama-race-t"> Kamala Harris Defends Biden&#8217;s &#8216;Slow Start&#8217; At Debate With &#8216;Strong Finish&#8217;: Clinton, Newsom, Obama Race To Support President</a>
Why It's Important: After <a href="https://www.benzinga.com/general/politics/24/07/39620336/biden-contemplates-future-in-2024-race-after-poor-debate-showing-report">the recent debate performance</a>, Biden could lose support in election polls and the next Morning Consult poll could show a much different result.
While Biden only trails by one percentage point in the latest Morning Consult poll, his campaign won't like several findings.
<ul>
<li>68% of voters say Biden is too old for the presidency, compared to 64% before the debate. </li>
<li>Among Democratic voters, 50% said Biden was too old, up seven percentage points from before the debate.</li>
<li>The poll found that only 35% of voters consider Biden to be in good health, compared to 41% before the presidential debate.</li>
<li>63% of Democratic voters see Biden in good health, compared to 75% before the debate.</li>
<li>When asked if Biden is mentally fit, 37% of voters said yes, compared to 43% before the debate. </li>
<li>Among Democratic voters, 68% said Biden is mentally fit, down from 77% before the debate.</li>
</ul>
Biden being mentally fit hit the lowest score for all voters and Democrats since polling began in 2020.
For a ninth consecutive week, Biden's net favorability rating has been ahead of Trump's, marking Biden's longest streak since April 2023.
However, voters were 31 points more likely of having heard, read or seen something negative than positive about Biden after the debate. This marked Biden's worst buzz rating since tracking for the 2024 election began in November 2022.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/07/39625833/who-gets-the-fundraising-money-if-joe-biden-drops-out-of-2024-election">Who Gets The Fundraising Money If Joe Biden Drops Out Of 2024 Election?</a></li>
</ul>

Trump Vs. Biden: Former President Retakes Lead In 2024 Election Poll After Debate, More Voters See Incumbent As 'Too Old'

Permian Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PR#NYSE">PR</a>) has outperformed the market over the past 5 years by 5.07% on an annualized basis producing an average annual return of 18.36%. Currently, Permian Resources has a market capitalization of $10.40 billion. 
Buying $1000 In PR: If an investor had bought $1000 of PR stock 5 years ago, it would be worth $2,235.38 today based on a price of $16.06 for PR at the time of writing.
<h3>Permian Resources's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720213227_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Permian Resources Stock In The Last 5 Years

Amkor Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) has outperformed the market over the past 20 years by 2.25% on an annualized basis producing an average annual return of 10.58%. Currently, Amkor Tech has a market capitalization of $9.86 billion. 
Buying $100 In AMKR: If an investor had bought $100 of AMKR stock 20 years ago, it would be worth $758.71 today based on a price of $40.06 for AMKR at the time of writing.
<h3>Amkor Tech's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720213223_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMKR

Here's How Much $100 Invested In Amkor Tech 20 Years Ago Would Be Worth Today

Dozens of high-power business leaders, including Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) heir Christy Walton, have <a href="https://www.benzinga.com/news/24/07/39641760/biden-vs-trump-incumbent-trails-by-widest-margin-in-this-election-cycle-but-more-than-half-unenthusi">signed a letter </a>to President Joe Biden asking him to give up his re-election bid, while praising his time in the Oval Office.
The letter, which was obtained by Bloomberg and signed by 168 executives and billionaires, credit Biden, 81, with "rescuing our democracy from the deepest threats it has known since the Civil War." 
But the letter, which came from the Leadership Now Project, also encouraged Biden to step aside by telling him, "to ensure that legacy is cemented, we ask that you pass the torch of leadership to the next generation of Democratic leaders by ending your reelection bid," Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-05/a-14-billion-walmart-heir-joins-novogratz-urging-biden-to-exit?srnd=homepage-americas&amp;sref=TBDibEcD">reported.</a>
Also Read: <a href="https://drupal-cloudfront.benzinga.com/markets/cryptocurrency/24/07/39601856/anthony-scaramucci-predicts-major-crypto-gains-if-biden-wins-election">Anthony Scaramucci Predicts Major Crypto Gains if Biden Wins Election</a>
Other signatories include Michael Novogratz, CEO of Galaxy Investment Partners,&nbsp;and&nbsp;Paul Tagliabue, former commissioner of the National Football League.
Walton, 75, is worth about $14 billion, according to the Bloomberg Billionaires Index. The philanthropist is the widow of John T. Walton, the second son of Walmart Inc. founder Sam Walton.
 Walton, Novogratz and Tagliabue haven't donated to Biden's re-election campaign, Bloomberg reported.
The letter, which also told Biden that &#8220;nothing short of American democracy is at stake this November,&#8221; has come after Leadership Now <a href="https://www.leadershipnowproject.org/statement-a-new-nominee-to-protect-democracy">published </a>an unsigned statement on Wednesday that said business leaders have &#8220;heard from many individuals who share our deep concerns about the present course but fear speaking out.&#8221;
&#8220;But speaking out is our duty in a democracy and the time to do it is now,&#8221; Leadership Now said in its statement.
&#8220;We call on others to join us in making this urgent call.&#8221;
Leadership Now pointed to Biden&#8217;s performance in his June 27 debate with former President Donald Trump in requesting that the president give up his campaign for a second term.
&#8220;What we witnessed Thursday night in the presidential debate was deeply concerning,&#8221; the organization said.
&#8220;Donald Trump repeatedly lied, preyed on our worst fears and grievances, and refused to commit to accepting the 2024 election results. Unfortunately, President Biden failed to effectively make the case against Trump, and we now fear the risk of a devastating loss in November.&#8221;
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39638541/trumps-unfounded-claims-kamala-harris-stir-controversy-shes-so-bad-shes-so-pathetic">Trump&#8217;s Unfounded Claims About Kamala Harris Stir Controversy: &#8216;She&#8217;s So Bad, She&#8217;s So Pathetic&#8217;</a></li>
</ul>
Photo: Shutterstock

Biden Should Step Aside, Say Business Leaders Including Walmart Heir

June&#8217;s Bureau of Labor Statistics jobs report <a href="https://www.benzinga.com/markets/equities/24/07/39646053/mixed-picture-for-fed-june-payrolls-rise-more-than-expected-unemployment-rate-ticks-up-wage-grow">shows unemployment rising</a>, signaling a continued slowing in the U.S. economy. 
University of Pennsylvania Wharton professor Jeremy Siegel reacted to the data, recommending the Federal Reserve to <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39648975/fed-needs-to-frontload-interest-rate-cuts-say-4-economists-labor-markets-cooling-">cut interest rates</a> in response.
What Happened: Siegel <a href="https://www.cnbc.com/video/2024/07/05/we-are-in-a-slowing-economy-says-whartons-jeremy-siegel.html">appeared</a> on CNBC on Friday afternoon to discuss Friday&#8217;s &#8220;weak report.&#8221;
&#8220;I think it&#8217;s really time for Fed Chairman [Jerome] Powell to tee up in the July meeting a cut in September, and maybe another one in November,&#8221; Siegel said. &#8220;I think inflation is definitely under control and I don&#8217;t want to see this slowing economy turn into something worse.&#8221;
Siegel referenced economist Claudia Sahm&#8216;s <a href="https://www.benzinga.com/news/econ-s/24/07/39649271/us-close-to-recession-warning-as-june-jobs-report-shows-rising-unemployment">leading &#8220;Sahm Rule&#8221;</a> as a means to predicting recessions. The threshold is met when the three-month moving average of the&nbsp;unemployment rate rises by 0.5% or more relative to the minimum of the three-month averages from the previous 12 months. 
June&#8217;s figure is very close to approaching the 0.50%. A recession still should not be considered likely, Siegel says, especially if a September rate cut by the Federal Reserve would forestall a recession.
&#8220;Why not be preemptive? The commodity market is under control, all the others are under control. We&#8217;ve talked so long about the fact that if they used realistic shelter costs in their CPI, they [inflation indicators] would be much lower than what they have now. I think he [Powell] can afford to bring us a more normal Fed Funds Rate in relationship to those long rates&#8230;&#8221;
Why it Matters: The market is currently predicting a 77% chance for a September interest rate cut with additional cuts possible in November, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according</a> to the CME Group. 
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39650506/magnificent-7-stocks-propel-s-p-500-nasdaq-100-to-record-highs-as-jobs-data-fuels-rate-cut-bets-">Magnificent 7 Stocks Propel S&amp;P 500, Nasdaq 100 To Record Highs As Jobs Data Fuels Rate Cut Bets; Gold Miners Rally: What&#8217;s Driving Markets Friday?</a></li>
</ul>

Economics

Wharton's Jeremy Siegel Implores Jerome Powell To Signal September Rate Cuts: 'We Are In A Slowing Economy'

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pre-market stock movers are worth diving into on Wednesday morning to get ready for all of the hottest news moving shares today!



Moving stocks this morning are shareholder meetings, clinical updates, an annual report and delisting plans.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Marin Software (NASDAQ:<a href="https://investorplace.com/stock-quotes/mrin-stock-quote/">MRIN</a>) stock is rocketing more than 67% after <a href="https://finance.yahoo.com/news/marin-software-enhances-microsoft-advertising-202000808.html">upgrading its integration</a> with Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) Advertising.</li>



<li>iCoreConnect (NASDAQ:<a href="https://investorplace.com/stock-quotes/icct-stock-quote/">ICCT</a>) shares are soaring over 39% alongside heavy pre-market trading.</li>



<li>Nano Labs (NASDAQ:<a href="https://investorplace.com/stock-quotes/na-stock-quote/">NA</a>) stock is surging more than 35% after <a href="https://www.nasdaq.com/press-release/nano-labs-files-annual-report-on-form-20-f-for-fiscal-year-2023-2024-04-08">filing its 2023 annual report</a>.</li>



<li>Jaguar Health (NASDAQ:<a href="https://investorplace.com/stock-quotes/jagx-stock-quote/">JAGX</a>) shares are increasing over 34% after <a href="https://finance.yahoo.com/news/jaguar-health-reports-approval-proposals-201500942.html">revealing results from its shareholder meeting</a>.</li>



<li>IN8bio (NASDAQ:<a href="https://investorplace.com/stock-quotes/inab-stock-quote/">INAB</a>) stock is gaining more than 22% <a href="https://www.nasdaq.com/press-release/in8bio-announces-new-preclinical-data-for-gamma-delta-nscar-t-cell-therapy-platform">alongside preclinical data</a>.</li>



<li>Meiwu Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/wnw-stock-quote/">WNW</a>) shares are heading over 16% higher with strong early morning trading.</li>



<li>Quantum (NASDAQ:<a href="https://investorplace.com/stock-quotes/qmco-stock-quote/">QMCO</a>) stock is climbing more than 14% despite a lack of news this morning.</li>



<li>iSpecimen (NASDAQ:<a href="https://investorplace.com/stock-quotes/ispc-stock-quote/">ISPC</a>) shares are rising close to 14% without any clear news this morning.</li>



<li>African Agriculture (NASDAQ:<a href="https://investorplace.com/stock-quotes/aagr-stock-quote/">AAGR</a>) stock is jumping over 11% today.</li>



<li>Galmed Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/glmd-stock-quote/">GLMD</a>) shares are up more than 10% on Wednesday morning.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Ascent Solar Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/asti-stock-quote/">ASTI</a>) stock is plummeting more than 49% after <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318227158&amp;type=PDF&amp;symbol=ASTI&amp;cdn=6c900f5f936acd98ef3c512d6e5bb28d&amp;companyName=Ascent+Solar+Technologies+Inc&amp;formType=EFFECT&amp;formDescription=Notice+of+Effectiveness&amp;dateFiled=2024-04-09">launching a public offering</a>.</li>



<li>FutureFuel (NYSE:<a href="https://investorplace.com/stock-quotes/ff-stock-quote/">FF</a>) shares are diving over 28% after <a href="https://www.nasdaq.com/press-release/futurefuel-to-release-first-quarter-2024-financial-results-on-may-9-2024-2024-04-08">announcing a date</a> for its upcoming earnings report.</li>



<li>Velo3D (NYSE:<a href="https://investorplace.com/stock-quotes/vld-stock-quote/">VLD</a>) stock is tumbling more than 27% after announcing a <a href="https://finance.yahoo.com/news/velo3d-announces-proposed-public-offering-210000442.html">proposed public offering</a>.</li>



<li>Biophytis (NASDAQ:<a href="https://investorplace.com/stock-quotes/bpts-stock-quote/">BPTS</a>) shares are taking an over 20% beating <a href="https://investorplace.com/2024/04/why-is-biophytis-bpts-stock-up-43-today/">following a rally yesterday</a>.</li>



<li>PainReform (NASDAQ:<a href="https://investorplace.com/stock-quotes/prfx-stock-quote/">PRFX</a>) stock is falling more than 19% as it <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318225142&amp;type=PDF&amp;symbol=PRFX&amp;cdn=db9014d6a36df8779dda82dcce26f5b4&amp;companyName=PainReform+Ltd.&amp;formType=6-K&amp;formDescription=Report+of+foreign+private+issuer+pursuant+to+Rule+13a-16+or+15d-16+under+the+Securities+Exchange+Act+of+1934&amp;dateFiled=2024-04-09">continues negative movement from yesterday</a>.</li>



<li>VIA Optronics (NYSE:<a href="https://investorplace.com/stock-quotes/viao-stock-quote/">VIAO</a>) shares are dropping over 19% <a href="https://www.businesswire.com/news/home/20240409050064/en/VIA-optronics-AG-Announces-Intention-to-Voluntarily-Delist-its-ADSs-from-the-New-York-Stock-Exchange">on delisting plans</a>.</li>



<li>Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>) stock is sliding more than 18% <a href="https://investorplace.com/2024/04/dxyz-stock-what-to-know-about-the-new-destiny-tech100-fund-taking-over-wall-street/">alongside recent volatility</a>.</li>



<li>Selina Hospitality (NASDAQ:<a href="https://investorplace.com/stock-quotes/slna-stock-quote/">SLNA</a>) shares are decreasing over 18% after a massive rally yesterday.</li>



<li>Mobile Global Esports (NASDAQ:<a href="https://investorplace.com/stock-quotes/mgam-stock-quote/">MGAM</a>) stock is dipping more than 16% after rallying on Tuesday.</li>



<li>Telesis Bio (NASDAQ:<a href="https://investorplace.com/stock-quotes/tbio-stock-quote/">TBIO</a>) shares close out our pre-market stock movers down over 15% after announcing <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318226530&amp;type=PDF&amp;symbol=TBIO&amp;cdn=5f941c4bf6eb8c3db6101ae988f298d1&amp;companyName=Telesis+Bio+Inc.&amp;formType=PRE+14A&amp;formDescription=Preliminary+proxy+statement+providing+notification+matters+to+be+brought+to+a+vote&amp;dateFiled=2024-04-09">shareholder meeting details</a>.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-april-10th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday

XLK And The Return Of Irrational Exuberance

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to dive into the biggest pre-market stock movers with all of the hottest news worth reading about on Wednesday!



Moving stocks this morning are earnings reports, acquisition plans, new drug data and more.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>INVO Bioscience (NASDAQ:<a href="https://investorplace.com/stock-quotes/invo-stock-quote/">INVO</a>) stock is rocketing more than 55% alongside its <a href="https://finance.yahoo.com/news/invo-reports-fourth-quarter-full-205900118.html">Q4 earnings report</a>.</li>



<li>Vanda Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/vnda-stock-quote/">VNDA</a>) shares are soaring over 38% on <a href="https://www.nasdaq.com/press-release/future-pak-confirms-proposal-to-acquire-vanda-pharmaceuticals-for-%247.25-to-%247.75-per">a firm acquisition proposal</a>.</li>



<li>VIA Optronics (NYSE:<a href="https://investorplace.com/stock-quotes/viao-stock-quote/">VIAO</a>) stock is surging more than 32% with heavy pre-market trading.</li>



<li>Clene (NASDAQ:<a href="https://investorplace.com/stock-quotes/clnn-stock-quote/">CLNN</a>) shares are rising over 26% on <a href="https://seekingalpha.com/news/4090283-clene-stock-rallies-post-market-on-ms-drug-data?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain%7Csection%3Aon-the-move">new drug data</a>.</li>



<li>Chromocell Therapeutics (NYSEMKT:<a href="https://investorplace.com/stock-quotes/chro-stock-quote/">CHRO</a>) stock is gaining more than 26% on an update to a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318239123&amp;type=PDF&amp;symbol=CHRO&amp;cdn=722216dc7f57070dff83767fe9648f9d&amp;companyName=Chromocell+Therapeutics+Corporation&amp;formType=424B3&amp;formDescription=Prospectus+%5BRule+424%28b%29%283%29%5D&amp;dateFiled=2024-04-17">secondary stock offering</a>.</li>



<li>CXApp (NASDAQ:<a href="https://investorplace.com/stock-quotes/cxai-stock-quote/">CXAI</a>) shares are increasing over 26% with its <a href="https://www.marketwatch.com/story/cxapp-shares-rise-29-on-4q-2023-annual-recurring-revenue-growth-13f8abea">latest earnings report</a>.</li>



<li>Seelos Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/seel-stock-quote/">SEEL</a>) stock is climbing more than 24% without any clear news on Wednesday morning.</li>



<li>Mobile Global Esports (NASDAQ:<a href="https://investorplace.com/stock-quotes/mgam-stock-quote/">MGAM</a>) shares are getting a 22% boost as it <a href="https://investorplace.com/2024/04/why-is-mobile-global-esports-mgam-stock-down-18-today/">prepares for delisting</a>.</li>



<li>Gamer Pakistan (NASDAQ:<a href="https://investorplace.com/stock-quotes/gpak-stock-quote/">GPAK</a>) stock is jumping 21% despite a lack of news today.</li>



<li>Galera Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/grtx-stock-quote/">GRTX</a>) shares are up over 19% on a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318238318&amp;type=PDF&amp;symbol=GRTX&amp;cdn=6788b7c94daccbdc9a6c5412e270d44c&amp;companyName=Galera+Therapeutics+Inc.&amp;formType=SC+13G&amp;formDescription=Statement+of+acquisition+of+beneficial+ownership+by+individuals&amp;dateFiled=2024-04-16">shareholder stake update</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Trilogy Metals (NYSEMKT:<a href="https://investorplace.com/stock-quotes/tmq-stock-quote/">TMQ</a>) stock is plummeting more than 22% <a href="https://www.nasdaq.com/press-release/trilogy-metals-provides-update-on-the-ambler-access-project-2024-04-17">following an update</a> to its Ambler Access Project.</li>



<li>Trio Petroleum (NYSEMKT:<a href="https://investorplace.com/stock-quotes/tpet-stock-quote/">TPET</a>) shares are diving over 20% after <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318239194&amp;type=PDF&amp;symbol=TPET&amp;cdn=fb7a5495a316777660288b1087458323&amp;companyName=Trio+Petroleum+Corp.&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-04-17">securing senior notes and a purchase agreement</a>.</li>



<li>Connexa Sports Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/yyai-stock-quote/">YYAI</a>) stock is tumbling more than 18% on Wednesday morning.</li>



<li>Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>) shares are taking a close to 18% beating following a rally yesterday.</li>



<li>Ontrak (NASDAQ:<a href="https://investorplace.com/stock-quotes/otrk-stock-quote/">OTRK</a>) stock is sliding over 16% with the release of its <a href="https://finance.yahoo.com/news/ontrak-announces-2023-fourth-quarter-200500612.html">Q4 2023 earnings report</a>.</li>



<li>Dragonfly Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/dfli-stock-quote/">DFLI</a>) shares are retreating more than 16% <a href="https://investorplace.com/2024/04/why-is-dragonfly-energy-dfli-stock-up-56-today/">after rallying yesterday</a>.</li>



<li>Dynatronics (NASDAQ:<a href="https://investorplace.com/stock-quotes/dynt-stock-quote/">DYNT</a>) stock is pulling back over 16% <a href="https://investorplace.com/2024/04/why-is-dynatronics-dynt-stock-up-93-today/">after rising on Tuesday</a>.</li>



<li>Ryvyl (NASDAQ:<a href="https://investorplace.com/stock-quotes/rvyl-stock-quote/">RVYL</a>) shares are still falling more than 15% despite <a href="https://www.nasdaq.com/press-release/ryvyl-inc.-announces-cancellation-of-proposed-underwritten-public-offering-2024-04-16">canceling a proposed public offering</a>.</li>



<li>Hub Cyber Security (NASDAQ:<a href="https://investorplace.com/stock-quotes/hubc-stock-quote/">HUBC</a>) stock is dropping over 14% <a href="https://investorplace.com/2024/04/why-is-hub-cyber-security-hubc-stock-up-35-today/">after a rally yesterday</a>.</li>



<li>iSun (NASDAQ:<a href="https://investorplace.com/stock-quotes/isun-stock-quote/">ISUN</a>) shares close out our pre-market stock movers down more than 13% <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318238741&amp;type=PDF&amp;symbol=ISUN&amp;cdn=82f25393dbc89b776256155c3f0856b7&amp;companyName=iSun+Inc.&amp;formType=10-K&amp;formDescription=Annual+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-04-16">on an investor update</a>.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-april-17th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Destiny Tech100 Inc. spiraled as much as 45%, trimming gains from its debut last month to about 700%.

DXYZ: An Old Form of Ignorance

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
When my editors at InvestorPlace asked me to write about Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>), something about it seemed so familiar, but I couldn&rsquo;t put my finger on it.



I had never heard of the closed-end fund until I received the assignment. As I write this, DXYZ stock is up nearly 20% on the day and 228% in 2024. That&rsquo;s incredible, considering it only started trading on the NYSE on <a href="https://www.businesswire.com/news/home/20240327776952/en/NYSE-Welcomes-Destiny-Tech100-DXYZ-Pioneering-Access-to-Tech-Innovation">March 27</a>.&nbsp;



&ldquo;The Destiny Tech100 is a closed-end management investment company registered under the 1940 Act. We intend to invest in a portfolio of 100 of the top venture-backed private technology companies, providing everyday investors access to these private market leaders for the first time,&rdquo; <a href="https://destiny.xyz/tech100">states</a> the Destiny Tech100 website.&nbsp;



And then it hit me. DXYZ is GSV Capital 2.0.&nbsp;



If you understand my reference, there&rsquo;s probably no reason for you to read any further. If not, read on, and I&rsquo;ll explain why an investment in DXYZ will likely end in sadness and misfortune.&nbsp;



<h2>The Concept Makes Sense In a Rational World</h2>



Who in their right mind would say no to owning an investment in 100 of the top venture-backed private technology companies? In a rational world, no one would.&nbsp;



But we don&rsquo;t live in a rational world where investors do things that make sense. How else can you explain a nearly $5 billion market capitalization for Trump Media &amp; Technology Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/djt-stock-quote/">DJT</a>), arguably one of the most overvalued companies trading on Nasdaq?&nbsp;



Here&rsquo;s the thing. We&rsquo;ve seen this movie before. The original version premiered on the Nasdaq in May 2011 under GSV Capital Corp.&nbsp;



&ldquo;GSV Capital Corp. (formerly NeXt Innovation Corp., the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;GSV Capital&rdquo;) was formed in September 2010 as a Maryland corporation structured as an externally managed, non-diversified closed-end management investment company,&rdquo; <a href="https://www.sec.gov/Archives/edgar/data/1509470/000114420411047649/v232038_10q.htm">stated</a> page 8 of its June 2011 10-Q.&nbsp;



&ldquo;The Company has elected to be treated as a business development company under the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;). The Company is managed by GSV Asset Management, LLC (formerly NeXt Asset Management, &ldquo;GSV Asset Management&rdquo;).&rdquo;



In its IPO, the GSV sold 3.34 million shares at $15, generating nearly $50 million in net proceeds.&nbsp;



Names held in its portfolio included pre-IPO companies such as Bloom Energy (NYSE:<a href="https://investorplace.com/stock-quotes/be-stock-quote/">BE</a>), Chegg (NYSE:<a href="https://investorplace.com/stock-quotes/chgg-stock-quote/">CHGG</a>), Facebook, now known as Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>), and several other investments.&nbsp;



Founder Michael Moe said then, &ldquo;We are democratizing the process, which we think is pretty cool and compelling,&rdquo; Barron&rsquo;s <a href="https://www.barrons.com/articles/SB50001424052748703922804577066354256761534">reported</a> in December 2011.&nbsp;



He&rsquo;s talking about the venture capital industry.&nbsp;



<h2>What Happened to GSV Capital?</h2>



In August 2017, GSV founder Michael Moe <a href="https://www.spglobal.com/marketintelligence/en/news-insights/trending/cgqbvpuarrfhrjpqgnxfaa2">resigned</a> as CEO. He remained chairman while board member Mark Klein became CEO.&nbsp;



In <a href="https://www.globenewswire.com/news-release/2019/07/31/1895210/0/en/gsv-capital-corp-announces-rebranding-to-sutter-rock-capital-corp.html">July 2019</a>, the company transitioned from external management (GSV Asset Management, Moe&rsquo;s asset management firm) to internal management under Klein&rsquo;s supervision. As part of the transition, it changed its name to Sutter Rock Capital Corp.&nbsp;&nbsp;



A year later, it <a href="https://investors.surocap.com/news-releases/news-release-details/sutter-rock-capital-corp-announces-name-change-suro-capital-corp#:~:text=Announces%20Name%20Change%20to%20SuRo%20Capital%20Corp.,-June%2019%2C%202020&amp;text=SAN%20FRANCISCO%2C%20June%2019%2C%202020,Monday%2C%20July%2022%2C%202020.">changed its name</a> to SuRo Capital Corp. (NASDAQ:<a href="https://investorplace.com/stock-quotes/ssss-stock-quote/">SSSS</a>), opting to retain the symbol. At the time, SSSS shares traded over $9. Today, they&rsquo;re in penny-stock status below $4.&nbsp;



As of March 31, SuRo&rsquo;s guidance for net asset value per share is between <a href="https://investors.surocap.com/news-releases/news-release-details/suro-capital-corp-first-quarter-2024-preliminary-investment">$6.90 and $7.40</a>. At the midpoint of its outlook, the company&rsquo;s shares trade at a 46% discount to its NAV.&nbsp;



As of March 31, it held positions in 35 private companies and three public. Its publicly traded investments accounted for approximately 8.4% of its <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1509470/000149315224009905/form10-k.htm">$184 million</a> portfolio of investments as of Dec. 31, 2023. It also had nearly $64 million in U.S. Treasury bills.&nbsp;



GSV/SSSS shares initially sold for $15 in 2011 but only traded above $20 in 2012. If you held your shares for 13 years, your compound annual growth rate would be -9.9%.&nbsp;



<h2>DXYZ Stock Is Likely to Face the Same Ending</h2>



As Morningstar.com&rsquo;s Jack Shannon pointed out on April 18, DXYZ&rsquo;s net assets at the end of 2023 were <a href="https://www.morningstar.com/funds/dxyz-not-destinys-child">$52 million</a>, or $4.84 a share. That&rsquo;s a 512% premium to its net asset value at current share prices.



I don&rsquo;t care what type of businesses are in its current portfolio of <a href="https://destiny.xyz/tech100">23 companies</a> &mdash; and by the way, they&rsquo;re no more special than what GSV held back in 2011 &mdash; many of these will flame out as public companies once they go public.&nbsp;



History does repeat itself. I wouldn&rsquo;t touch DXYZ with a 10-foot pole.&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/destiny-tech100-why-i-wouldnt-touch-dxyz-stock-with-a-10-foot-pole/">Destiny Tech100: Why I Wouldn&#8217;t Touch DXYZ Stock With a 10-Foot Pole</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Destiny Tech100: Why I Wouldn't Touch DXYZ Stock With a 10-Foot Pole

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
As the technology sector rolls across a bumpier part of the road, investors eager to top-up may have a chance to get some better prices as the choppy second quarter of the year continues. Undoubtedly, it&rsquo;s easy for a new investor to lose their cool as the results from some of the market&rsquo;s hottest <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> begin to come in. That said, it&rsquo;s never a good idea to let emotions drive your investment decisions.



Big bounce-back days like the one enjoyed on Tuesday show many investors why it&rsquo;s often a bad idea to throw in the towel after stocks run into a losing streak. For long-term investors who want to capitalize on the best emerging ideas in the tech sector, there are a handful of interesting exchange-traded funds (ETFs) and closed-end funds (CEFs) to get the job done. 



So, whether or not a wrecking ball is headed for <a href="https://investorplace.com/industries/technology/">tech stocks</a>, I find it worthwhile to stash the following funds on one&rsquo;s radar.



<h2>Destiny Tech100 (DXYZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/space-spacs-1600-300x169.jpg" alt="Rocket launching into space"><div>Source: 3Dsculptor / Shutterstock.com</div></div>It&rsquo;s hard to name another fund that&rsquo;s been nearly as action-packed, exciting and volatile as the Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>). This closed-end fund (not to be confused with ETFs) allows everyday retail investors to invest in some of the hottest innovative private companies today. 



Indeed, it can be tough not to get a bit enthused after seeing the types of private firms underneath the hood. From Elon Musk&rsquo;s private space company SpaceX (the largest holding in the DXYZ) to OpenAI and some smaller firms we have yet to appreciate, the DXYZ certainly seems to be a pretty exclusive club. 



Chatting about DXYZ is sure to win you some ears at the dinner table. However, you will pay a colossal premium to net asset value (NAV) to punch your ticket. That is even after the recent collapse in shares from its near-$100 peak to $28 trough. That&rsquo;s a one-way ticket down of more than 70%. 



Many pundits have the <a href="https://www.morningstar.com/funds/dxyz-not-destinys-child">NAV pinned at just shy of $5</a>. Indeed, paying north of $28 per share for $5 of value doesn&rsquo;t seem to make a whole lot of sense. Not even if you expect fireworks should SpaceX decide to have an IPO in the future.



With the IPO environment blazing hot, it certainly seems exhilarating and exclusive to have a stake in a private firm like SpaceX before it has a chance to go public. It&rsquo;s not hard to imagine many Elon Musk fans wanting to invest in SpaceX, regardless of the price.



Personally, I&rsquo;m sitting on the sidelines until the premium to NAV slims further. Much further. Who knows? Perhaps the DXYZ will hit single digits if the market sell-off intensifies.



<h2>ARK Next Generation Internet ETF (ARKW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/logo-ark-invest-cathie-wood-1600-300x169.jpg" alt="Logo for Ark Invest displayed on phone with logo in background as well, symbolizing Cathie Wood stocks"><div>Source: shutterstock.com/viewimage</div></div>ARK Next Generation Internet ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/arkw-stock-quote/">ARKW</a>) stands out as far less speculative than the DXYZ. The fund, which is managed by Cathie Wood, holds shares of some high-tech growth stocks that show disruptive potential.



The stock imploded back in 2021 and 2022, eventually bottoming out to start 2023 fresh. Since those lows, ARKW has been rallying with fury. More recent momentum seems worth getting behind, with shares now up over 55% in just the past year.



Even as <a href="https://www.wsj.com/finance/investing/ark-funds-cathie-wood-investors-56e2950c">many investors pull money out</a> of Cathie Wood&rsquo;s Ark Invest funds, the ARKW ETF still looks compelling. That&rsquo;s especially the case for investors seeking disruptive growth at relatively reasonable prices of admission. 



Coinbase (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) is a top holding and a major contributor behind the fund&rsquo;s past year of relief gains. With a good mix of stocks playing on fintech, the metaverse and AI, I wouldn&rsquo;t be afraid to keep the fund. It is my favorite of the Ark line and on my radar going into summer.



<h2>iShares Cybersecurity and Tech ETF (IHAK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/cybersecurity1600c-300x169.jpg" alt="A digital illustration of a hacker in a blue sweatshirt. Cybersecurity Stocks to Sell"><div>Source: Shutterstock</div></div>If you want to take thematic investing to the next level, a cybersecurity ETF like the iShares Cybersecurity and Tech ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/ihak-stock-quote/">IHAK</a>) is worth considering. Amid the rising global risk of cyber threats, it&rsquo;s unsettling to learn of a new company being compromised by cyber attackers.



Even a company as large as Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) needs to stay vigilant in the face of <a href="https://www.wired.com/story/russia-hackers-microsoft-source-code/">rising cybersecurity risks</a>. With the rise of artificial intelligence (AI), I believe the severity and frequency of major breaches stand to be amplified. And with that, everybody will need to spend big money to bolster their cybersecurity defenses.



Indeed, the cybersecurity tech theme is one that I expect to lead to solid results over the long run. With the recent correction in the IHAK ETF, investors may wish to make a move. Either way, the thematic ETF is worth watching very closely as the cybersecurity good guys strive to stay ahead of the hacker bad guys.



On the date of publication, Joey Frenette owned shares of Microsoft. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://protect-us.mimecast.com/s/YUYqC31vVVI7KAkriDfKi6?domain=investorplace.com/">Publishing Guidelines</a>.
<div>Joey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/dxyz-arkw-ihak-3-hot-tech-funds-for-your-summer-watchlist/">DXYZ, ARKW, IHAK: 3 Hot Tech Funds for Your Summer Watchlist</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

DXYZ, ARKW, IHAK: 3 Hot Tech Funds for Your Summer Watchlist

DXYZ And The Fakers Dozen, 13 Stocks With Huge Downside Risk

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
You&rsquo;ve heard about <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a>, but have you heard of meme funds? With the Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>) fund, you can diversify your portfolio into unusual, high-risk assets. It&rsquo;s not something you want to allocate too much of your capital towards, but audacious investors might want to give DXYZ stock a try.



I&rsquo;m calling it a meme fund because the Destiny Tech100 share price rallied sharply before pulling back. So, you might be able to invest in the Destiny Tech100 fund at a comparatively favorable price today. But don&rsquo;t hit that buy button until you&rsquo;ve gotten the need-to-know details about Destiny Tech100, which I&rsquo;ll give you right now.



<h2>Invest in the Uninvestable With Destiny Tech100</h2>



Do you want to buy common-stock shares of SpaceX and OpenAI? Good luck with that, as those currently aren&rsquo;t publicly traded companies. However, as Bloomberg reported, you can get <a href="https://finance.yahoo.com/news/destiny-ceo-calls-private-tech-143003780.html">indirect portfolio exposure</a> to those hot-topic businesses through DXYZ stock.



Destiny Tech100 invests in SpaceX, OpenAI and other forward-thinking businesses with technology angles. It&rsquo;s a new fund that just started trading on the New York Stock Exchange <a href="https://finance.yahoo.com/news/nyse-welcomes-destiny-tech100-dxyz-130000609.html">on March 26</a> of this year.



Furthermore, an innovation-and-impact-focused company called Destiny XYZ Inc. manages the Destiny Tech100 fund. The fund&rsquo;s purpose is to provide &ldquo;everyday investors access to many of the world&rsquo;s most exciting private businesses,&rdquo; including SpaceX, OpenAI, Stripe and Discord.



I dug around and found a Securities and Exchange Commission (SEC) filing that reveals some more of the Destiny Tech100 fund&rsquo;s <a href="https://finance.yahoo.com/sec-filing/DXYZ/0001398344-24-005739_1843974?nn=1">holdings</a>. 



These are (or at least were, as of Dec. 31, 2023), for the most part, preferred shares of companies that most people won&rsquo;t easily be able to invest in, such as Axiom Space, Impossible Foods and Bolt Financial.



<h2>Financial Faults, but a More Favorable Price</h2>



That same SEC filing revealed some startling financial data about Destiny Tech100 (the company, not the fund). Specifically, Destiny Tech100 sustained a net investment loss of $2.939 million in 2022 and a loss of $2.852 million in 2023.



That&rsquo;s not a wonderful track record, I&rsquo;ll admit. This is the main reason I&rsquo;m warning investors to keep their DXYZ stock positions small, if they choose to invest in it at all.



Also, there&rsquo;s the share-price volatility to consider. The stock, which started trading not long ago, already has a 52-week range of <a href="https://finance.yahoo.com/quote/DXYZ?.tsrc=fin-srch">$8.25 to $105</a>.



Recently, Destiny Tech100 stock traded at around $13, so at least you wouldn&rsquo;t be chasing it near the top. If you&rsquo;re going to buy a meme stock (or meme fund, in this case), it&rsquo;s wise to wait until the risk-to-reward profile is favorable.



In other words, the meme-stock pop-and-drop cycle seems to already have taken place. Consequently, you might want to dip your toes in the water and buy a few reduced-price Destiny Tech100 shares.



<h2>DXYZ Stock: Position Sizing Is Key</h2>



The Destiny Tech100 fund enables access to otherwise uninvestable preferred stocks. The fund&rsquo;s holdings represent some very interesting, innovative, tech-focused businesses.



If you&rsquo;re on board with this and can accept a high level of risk, the Destiny Tech100 fund may be right for you. The key is to only hold a small number of DXYZ stock shares. That way, you won&rsquo;t be overexposed if the fund&rsquo;s value collapses in the coming months.



On the date of publication, David Moadel&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>David Moadel has provided compelling content &ndash; and crossed the occasional line &ndash; on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/meme-fund-mania-is-dxyz-stock-your-ticket-to-the-hottest-private-companies/">Meme Fund Mania: Is DXYZ Stock Your Ticket to the Hottest Private Companies?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Meme Fund Mania: Is DXYZ Stock Your Ticket to the Hottest Private Companies?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If you&rsquo;re a risk taker and into meme-<a href="https://investorplace.com/industries/technology/">tech stocks</a>, Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>) is certainly an intriguing option to consider. This close-ended management investment, the DXYZ stock, <a href="https://destiny.xyz/tech100">operates as an ETF</a>, holding what managers believe are the &ldquo;top 100 high-growth tech companies.&rdquo; Notably, these companies are venture-backed and privately-listed, meaning investors can gain exposure to companies that may otherwise be unavailable on the private market. 



Destiny XYZ Inc. manages the company and offers exposure to innovative companies like SpaceX and OpenAI. It began trading on March 26 and aims to provide everyday investors with access to exciting private businesses.



Here&rsquo;s everything you need to know about the DXYZ stock.



<h2>The DXYZ Stock is a New NYSE Member</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/techstocks1600-300x169.png" alt="Close up of phone with creative forex chart on blue background. Trade, finance, technology and communication concept. 3D Rendering. Tech Stocks to Buy Before the Bull Market Returns. Tech Stocks to buy"><div>Source: Golden Dayz / Shutterstock.com</div></div>Destiny Tech100 <a href="https://www.businesswire.com/news/home/20240327776952/en/NYSE-Welcomes-Destiny-Tech100-DXYZ-Pioneering-Access-to-Tech-Innovation">debuted</a> on the New York Stock Exchange on March 26, 2024. Its opening price was $8.25, up 70.5% from the reference price of $4.84. Trading ranged from $8.25 to $30.48, closing at $9.00 with 540,000 shares traded. The company aims to provide investors access to private market growth opportunities in a public market setting, and has clearly seen very strong demand.



The company has revolutionized private-sector investing, making it more accessible and transparent. Destiny Tech100 offers opportunities previously unavailable to average investors and focuses on innovation and impact.



<h2>The Problem with the DXYZ Stock</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/shutterstock_1926453779-300x169.png" alt="top Tech stocks to watch : Double exposure of man's hands holding and using a phone and financial graph drawing. tech stocks"><div>Source: Peshkova / Shutterstock</div></div>The Destiny Tech100 fund, which went public in March, held shares in private giants like SpaceX, OpenAI, and Epic Games. This appeal was evident as these companies were typically inaccessible to the average investor. Moreover, it is also worth noting that the DXYZ stock is not just an average exchange-traded fund. It is also a closed-end management investment company, similar to an investment trust.



Debuting at $8.25 and surging $105 in just 10 days drives investors more to buy into DXYZ. A common mistake made by many new investors is not considering the company&rsquo;s NAV (net asset value). Subsequently, it dropped to as low as $25, still a significant premium of 400% over the reported NAV.



<h2>Private Sector Investing Is Only Heating Up</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/tech-stocks-1600-300x169.png" alt="A hexagonal grid with different tech-related icons; Tech stocks illustration. Best Tech stocks. tech stocks trading at bargain prices"><div>Source: whiteMocca / Shutterstock</div></div>Few funds match the excitement of Destiny Tech100, offering retail investors access to innovative private companies. With top holdings like SpaceX and OpenAI, DXYZ is an exclusive club, albeit with a hefty premium. Despite a recent price drop, enthusiasm remains high.



Many experts have estimated this ETF to have a net asset value (NAV) of around $5 per share, so there may be some valuation concerns, given how far this fund has run. As competition picks up in this space, it&rsquo;s possible this multiple could come down. Thus, I&rsquo;d categorize this company as a speculative buy, for those looking to gain exposure to the private sector. 



On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/the-destiny-tech-100-what-you-should-know-before-buying-dxyz-stock/">The Destiny Tech 100: What You Should Know Before Buying DXYZ Stock</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Destiny Tech 100: What You Should Know Before Buying DXYZ Stock

Destiny Tech100 reports net asset value per share of $5.07

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Press Releases

NYSE Welcomes Destiny Tech100 (DXYZ), Pioneering Access to Tech Innovation

Destiny Tech100 Inc. Announces First Quarter 2024 Net Asset Value

Destiny Tech100

뉴욕 증권 거래소(NYSE)의 여러 주식들은 <a href="https://www.benzinga.com/topic/nyse">기술적 문제</a>로 인해 월요일 동부 표준시 오전 9시 40분 이후 갑자기 거래가 중단되었다.
이번 예상치 못한 거래 중단은 일반적으로 단일 주식의 과도한 변동성을 억제하는 데 사용되는 &#8220;상향 한도(Limit Up)/하향 한도(Limit Down)&#8221; 코드로 분류된 기술적 문제로 인해 촉발되었다.
NYSE는 보고된 기술적 문제를 조사 중이라고 밝혔다. NYSE 소유주인 인터콘티넨탈 익스체인지(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>)는 &#8220;추가 정보가 최대한 빨리 나올 것&#8221;이라고 밝혔다.
월요일에 급작스러운 거래 일시 중단을 당한 대기업들 중 일부는 동부 시간 오전 9시 50분 52초에 버크셔 해서웨이(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)와 9시 44분 58초에 치폴레 멕시칸 그릴(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)이 포함됐다.
치폴레의 주가는 3,097달러에서 1,047달러로 66%의 갑작스럽고 극적인 하락을 경험했다. 해당 주식은 오전 10시 21분부터 거래를 재개했다.
오전 9시 49분, 워렌 버핏이 소유한 버크셔 해서웨이의 주식은 훨씬 더 심각한 하락에 직면했다. 주가는 622,375달러에서 185.10달러로 99.7%라는 엄청난 폭락으로 거의 소멸될 뻔했다.
월요일의 NYSE 기술적 오작동은 미국 증권 거래소가 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39039375/t-1-settlement-era-on-trading-begins-what-you-need-to-know">1일 결제 기간</a>으로 전환된 지 불과 일주일 만에 발생했다.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" class="wp-image-368052" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1024x500.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4.png 1920w" alt="" width="1024" height="500" /></figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" class="wp-image-368067" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1024x500.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5.png 1920w" alt="" width="1024" height="500" /></figure>
<h3 class="wp-block-heading">다른 영향을 받은 주식들</h3>
월요일 뉴욕 증권거래소에서 일어난 급작스럽게 발생한 기술적 오류로 인해 영향을 받은 다른 주식들은 다음과 같다.
<ul>
<li>애벗 래버러토리스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>)</li>
<li>배릭 골드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</li>
<li>프랑코 네바다 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>)</li>
<li>에섹스 프로퍼티 트러스트 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>)</li>
<li>누스케일 파워 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>)</li>
<li>데스티니 테크 100 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)</li>
<li>알트 디스럽티브 테크놀로지스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADRT#NYSE">ADRT</a>)</li>
<li>누보 몽드 그래파이트 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMG#NYSE">NMG</a>)</li>
<li>보우헤드 스페셜티 홀딩스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOW#NYSE">BOW</a>)</li>
<li>방코 산탄데르-칠레 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSAC#NYSE">BSAC</a>)</li>
<li>로지스틱 프로퍼티 오브 더 아메리카스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>)</li>
<li>엑스페리 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPER#NYSE">XPER</a>)</li>
<li>ICL 그룹 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICL#NYSE">ICL</a>)</li>
<li>텔레포니카 S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEF#NYSE">TEF</a>)</li>
<li>트리니티 인더스트리즈 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRN#NYSE">TRN</a>)</li>
</ul>
이 기술적인 문제는 다음 NYSE-Arca 상장 상장지수펀드(ETF)의 거래에도 영향을 미쳤다.
<ul>
<li>Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFEN#NYSE">DFEN</a>)</li>
<li>MAX S&amp;P 500 4x Leveraged ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPRO#NYSE">UPRO</a>)</li>
<li>JPMorgan Core Plus Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCPB#NYSE">JCPB</a>)</li>
<li>Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>)</li>
<li>Nationwide Nasdaq-100 Risk-Managed Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUSI#NYSE">NUSI</a>)</li>
<li>SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>)</li>
</ul>
또한 읽기: <a href="https://www.benzinga.com/news/24/06/39136240/koss-corp-tupperware-blackberry-shares-are-moving-monday-whats-going-on">코스, 타파웨어, 블랙베리 주식의 움직임: 무슨 일이?</a>
사진은 셔터스톡(Shutterstock)을 통해 제공됐습니다.

최근 출시된 폐쇄형 펀드인 데스티니 테크100(Destiny Tech100) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) 펀드는 2주 만에 최대 558%까지 급등하기도 했다.
어떤 일이 있었나 (What Happened): 이 펀드는 3월 26일 뉴욕 증권거래소에 상장될 당시부터 유독 주목받아왔으며, 이로써 이 펀드의 시가총액은 6.44억달러까지 치솟았다.
이 펀드는 일반적으로 대부분의 투자자가 접근할 수 없는 시장 부문인 민간 고성장 기술 기업에 투자하는 데 중점을 둔다.
이 펀드는 현재 23개 기업에 지분을 보유하고 있으며, 결국 포트폴리오에는 100개의 회사를 포함하려고 한다.
이 펀드의 관리 수수료율은 2.5%로 매우 높은 편에 속하지만, 이 펀드가 상장 전에는 상당한 이익을 창출할 잠재력을 가진 비공개 기업에 투자할 수 있는 기회를 제공한다.
이 펀드의 가장 큰 지분은 일론 머스크의 스페이스X로, 34.6%를 보유하고 있다. 그 밖의 중요한 지분은 에픽 게임즈의 4%, 오픈AI의 3.8%, 그리고 차임(Chime)의 1.9%가 된다.
<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noopener">Benzinga Tech Trends 뉴스레터</a>를 구독하면 최신 기술 개발 소식을 모두 받아보실 수 있습니다.
왜 이 중요한가 (Why It Matters): 이 펀드의 급속한 성장은 민간 기술 기업에 대한 관심이 높아지고 있는 것을 의미한다.
이 추세는 스페이스X와 오픈AI 같은 기업의 상당한 가치를 통해 더 강조되고 있다.
2021년 12월 기준으로 스페이스X의 가치는 <a href="https://www.benzinga.com/news/23/12/36249896/spacex-worth-180-billion-now-musk-owned-companys-value-tops-boeing-lockheed-martin-disney-verizon-ib">1,800억 달러</a>로 추산되었으며, 오픈AI는 <a href="https://www.benzinga.com/news/23/12/36372931/sam-altman-led-openai-aims-for-100b-valuation-in-new-funding-talks">1,000억 달러의 가치</a>로 자금을 모으기 위한 협상을 진행 중이었다.
이러한 민간 기술 기업 투자 급증은 AI 혁명과 광고 지출 개선이 2024년 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38109341/dan-ives-says-this-will-be-the-catalyst-for-15-rally-in-tech-stocks-in-2024-google-" target="_blank" rel="noopener">기술주 15% 상승</a>의 촉매제가 될 것이라고 믿는 웨드부시의 댄 아이브스(Dan Ives)와 같은 분석가들의 예측과 일치한다.
주가 움직임: <a href="https://pro.benzinga.com/dashboard">벤징가 프로</a>의 데이터에 의하면, 데스티니 테크100의 주가는 금요일 76.51% 상승한 59.20달러에 마감했다.
벤징가의 소비자 기술(Cosumer Tech) 커버리지를 더 확인하려면 <a href="https://www.benzinga.com/topic/consumer-tech">여기를 클릭하세요</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38041715/elon-musk-says-all-nations-above-a-certain-per-capita-income-are-committing-demographic-suicide?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says All Nations ‘Above A Certain Per Capita Income&#8217; Are Committing ‘Demographic Suicide&#8217;</a>
면책 조항: 본 콘텐츠의 일부는Benzinga Neuro의 도움을 받아 제작되었으며, Benzinga 편집자들이 검토하고 게시했다.

Destiny Tech100

뉴스

에 대한 최신 뉴스 Destiny Tech100 (NYSE:DXYZ) 주식

화요일, 6월 04, 2024

일요일, 4월 07, 2024

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