Reddit에 대한 매도 수량은 투자자에게 Reddit의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

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이들 10개 대형주는 지난주 최고의 성과를 거두었다. 그것들이 당신의 포트폴리오에 있나요? 리비안 오토모티브(NASDAQ:RIVN)는 회사가 생산량을 단순화하고 비용을 절감했으며 폭스바겐과의 합작 투자 계획을 발표했다는 보도가 나온 후 지난주 주가가 30.04% 급등했다. 

리비안과 카바나는 지난주 최고의 성과를 보인 10대 대형주 중 일부 (6월 23일-6월 29일)

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이들 대형주들은 지난주 최고의 성과를 거두었다. 그것들이 당신의 포트폴리오에 있나요? 가이드와이어 소프트웨어(NYSE:GWRE)의 주가는 회사가 예상보다 나은 3분기 재무 결과를 보고하고 예상보다 높은 2024회계연도 매출 지침을 발표한 후 14.08% 급등했다. 몇몇 분석가는 예측치를 상향 조정했다. 

Arm과 보잉은 지난주 최고의 성과를 보인 10개의 대형주 중 일부 (6월 1일-6월 7일)

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목요일에 캐시 우드가 주도하는 아크 인베스트(Ark Invest)는 아마존닷컴(NASDAQ:AMZN)과 레딧(NYSE:RDDT)에서 상당한 거래를 성사시켰으며 두 회사 모두 눈에 띄는 움직임을 보였다.

캐시 우드가 이끄는 아크 인베스트는 아마존 주식을 990만 달러 상당 매수, 레딧도 매입

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In a recent shareholder Q&amp;A, Nintendo ADR&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) President Shuntaro Furukawa addressed the issue of generative artificial intelligence (AI) in video game development, a hot topic that has stirred significant debate within the <a href="https://www.benzinga.com/general/gaming">industry.</a>
<h3 class="wp-block-heading">The Mixed Blessing Of AI</h3>
<a href="https://www.ign.com/articles/nintendo-says-generative-ai-can-be-used-in-creative-ways-but-highlights-ip-issues">According</a> to IGN, Furukawa acknowledged the potential benefits of generative AI, noting it could be used "in creative ways." However, he also highlighted the risks, particularly regarding intellectual property rights.
See Also:<a href="https://www.benzinga.com/24/05/39013083/sony-executive-ai-enhances-personal-connections-in-video-games-for-gen-z-gen-alpha"> Sony Executive: AI Enhances Personal Connections In Video Games For Gen Z, Gen Alpha</a><a href=""></a>
&#8220;Generative AI, which is becoming a big topic recently, can be used in creative ways, but we recognize that it may also raise issues with intellectual property rights,&#8221; he said. 
<h3 class="wp-block-heading">Nintendo's Stance On Technological Advancements</h3>
As Nintendo prepares to unveil its next-generation console, Furukawa stressed the company&#8217;s commitment to leveraging technological advancements while maintaining its unique creative identity. 
&#8220;We have decades of know-how in creating the best gaming experiences for our players. While we are open to utilizing technological developments, we will work to continue delivering value that is unique to Nintendo and cannot be created by technology alone,&#8221; he said.
<h3 class="wp-block-heading">Industry Perspectives On AI</h3>
Nintendo&#8217;s cautious yet open stance contrasts with the approaches of its competitors. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is reportedly developing an AI chatbot for Xbox to automate support tasks, including game refunds and subscription issues.
Meanwhile, Sony Group Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NASDAQ">SONY</a>) PlayStation Productions&#8217; head Asad Qizilbash highlighted AI&#8217;s potential to enhance player experiences through personalized interactions.
&#8220;For instance, non-player characters in games could interact with players based on their actions, making it feel more personal," Qizilbash said. "This is important for the younger Gen Z and Gen Alpha audiences, who are the first generations that grew up digitally and are looking for personalization across everything, as well as looking for experiences to have more meaning.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/03/37798791/survey-reveals-87-of-game-developers-embrace-open-source-amid-ai-concerns-layoff-fears">Survey Reveals 87% Of Game Developers Embrace Open-Source Amid AI Concerns, Layoff Fears</a></li>
<li><a href="https://www.benzinga.com/general/gaming/24/05/38952304/microsofts-ai-to-power-minecraft-and-other-xbox-pc-games">Microsoft&#8217;s AI To Power Minecraft And Other Xbox, PC Games</a></li>
</ul>
Photo by <a href="https://unsplash.com/es/@claudiolcastro?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Cláudio Luiz Castro</a> on <a href="https://unsplash.com/es/fotos/figura-de-super-mario-sobre-superficie-marron-_R95VMWyn7A?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Unsplash</a>

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Nintendo's President Says AI Can Be 'Creative,' But Raises Intellectual Property Concerns

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
U.S. stocks hit all-time highs during the shortened Independence Day trading week, buoyed by economic data that raised hopes the Federal Reserve might start cutting interest rates. The Nasdaq Composite surged 3.5%, the S&amp;P 500 rose nearly 2%, and the Dow lagged slightly with a 0.7% increase. 
Despite a stronger-than-expected job market report for June, revisions for prior months and a slight rise in the unemployment rate suggested a cooling economy. Additional signs of an economic slowdown emerged from the Institute for Supply Management Services PMI, which fell to its lowest <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39652289/stocks-rally-to-record-highs-as-investors-eye-interest-rate-cuts-labor-market-cools-tesla-">level since May 2020.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39581531/trump-winning-the-election-would-be-major-catalyst-for-crypto-to-surge-says-investment-exp">Trump Winning The Election Would Be &#8216;Major Catalyst&#8217; For Crypto To Surge, Says Investment Expert</a>,&#8221; by <a href="https://www.benzinga.com/author/murtuza-merchant">Murtuza Merchant</a>, explains how Donald Trump&#8216;s potential election victory could boost the cryptocurrency market, including 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>), according to an investment expert.
&#8220;<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39582335/momentum-investor-praises-palantir-as-ai-halo-play-highlights-datadog-as-software-bottom">Momentum Investor Praises Palantir As AI Halo Play, Highlights Datadog As Stoware &#8216;Bottoming Process&#8217; Sets In</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, discusses a momentum investor&#8217;s positive outlook on Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) due to its strong position in AI, while also noting Datadog Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) as a promising investment at its current lows. 
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39647203/dogecoin-dumps-as-whales-move-400-million-coins-trader-predicts-next-will-be-a-huge-reboun">Dogecoin Dumps As Whales Move 400 Million Coins, Trader Predicts &#8216;Next Will Be A Huge Rebound,&#8217;</a>&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports on significant whale activity amid Dogecoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) price drop, but one trader predicts a major rebound as large holders have moved 400 million DOGE.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/top-stories/24/07/39607932/exclusive-tesla-shorts-were-profitable-this-year-until-shareholders-approved-musks-pay-package-exper">EXCLUSIVE: Tesla Shorts Were Profitable This Year Until Shareholders Approved Musk&#8217;s Pay Package, Expert Says</a>
<a href="https://www.benzinga.com/news/24/07/39604334/sofis-transaction-revenue-skyrockets-analyst-foresees-major-growth-higher-valuation">SoFi&#8217;s Transaction Revenue Skyrockets: Analyst Foresees Major Growth, Higher Valuation</a>
<a href="https://www.benzinga.com/news/24/07/39587744/nvidia-and-jensen-huang-fueling-tech-sector-boom-says-wedbush-analyst-dan-ives-for-every-1-spent-on">Nvidia And Jensen Huang Fueling Tech Sector Boom, Says Wedbush Analyst Dan Ives: &#8216;For Every $1 Spent On…&#8217;</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/24/07/39569902/tesla-fsd-training-hits-a-snag-elon-musk-says-new-version-rollout-delayed-due-to-driving-smoothness">Tesla FSD Training Hits a Snag, Elon Musk Says New Version Rollout Delayed Due to Driving Smoothness</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reports that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk announced delays in the rollout of Full Self-Driving (FSD) version 12 due to issues with driving smoothness, pushing back the deployment timeline despite significant advancements​.
&#8220;<a href="https://www.benzinga.com/markets/equities/24/07/39572952/gamestop-shares-take-a-hit-after-roaring-kitty-discloses-6-6-stake-in-chewy-and-faces-a-manipula">GameStop Shares Take a Hit After &#8216;Roaring Kitty&#8217; Discloses 6.6% Stake In Chewy And Faces A Manipulation Probe</a>,&#8221; by <a href="https://www.benzinga.com/author/pooja-rajkumari">Pooja Rajkumari</a>, discusses how GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares fell following Keith Gill&#8216;s 6.6% investment in Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) and subsequent manipulation allegations​.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39654001/nvidia-gets-rare-downgrade-over-concerns-that-demand-is-normalizing-in-line-with-ex">Nvidia Gets Rare Downgrade Over Concerns That Demand Is Normalizing &#8216;In Line With Expectations,&#8217;</a>&#8221; by <a href="https://www.benzinga.com/author/rounak-jain">Rounak Jain</a>, notes Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) faced a rare downgrade due to concerns about normalizing demand, despite its strong position in AI and data centers. 
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/bonds/24/07/39600702/fed-chair-powell-warns-of-unsustainable-us-debt-path-downplays-risks-of-possible-trump-attacks-on-c">Fed Chair Powell Warns Of &#8216;Unsustainable&#8217; US Debt Path, Downplays Risks Of Possible Trump Attacks On Central Bank Independence</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39637474/ai-has-the-hallmarks-of-an-inflating-bubble-warns-veteran-wall-street-investor">AI Has &#8216;The Hallmarks Of An Inflating Bubble,&#8217; Warns Veteran Wall Street Investor</a>
<a href="https://www.benzinga.com/government/24/07/39625439/boeing-faces-high-stakes-decision-accept-plea-deal-or-risk-trial-over-737-max-safety-violations">Boeing Faces High-Stakes Decision: Accept Plea Deal Or Risk Trial Over 737 MAX Safety Violations</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image created using artificial intelligence vid Midjourney.

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Benzinga Bulls And Bears: Tesla, Nvidia, Palantir And Trader Predicts 'Huge Rebound' For Dogecoin

A landslide victory by the Labour Party in the U.K. has put the left-center group back in control of the government for the <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">first time in 14 years</a>.
Keir Starmer, the party's leader — and as of Friday, the U.K.'s new prime minister — is a voice of moderation within the traditionally leftist party.
Starmer, 61, is viewed by some as a much-needed step toward the center of the political spectrum, necessary to win back the hearts of the U.K. electorate. For others, and especially to the party's most left-leaning figures, Starmer's concessions are pulling the party too far from the banners of social justice it has traditionally represented.
<a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39649841/united-kingdom-stocks-etfs-to-watch-after-keir-starmer-labour-party-win">British stocks and ETFs experienced a slight uptick</a> after the results of the election were announced.
<h3 class="wp-block-heading">Who Is Keir Starmer And How Did He Rise To Power?</h3>
Starmer's early years crystallized the leader as a poster child for Labour values.
The son of a nurse who worked for the NHS, the U.K.'s public health service, and a toolmaker, Starmer was the first in his family to reach a college title, graduating from the University of Oxford with a law degree.
Throughout his political career, Starmer has repeatedly made mention of his working class background as a way to legitimize his quest for social justice.
During his formative years, which coincided with the final years of the Cold War, he displayed clear tendencies toward the far left, serving as editor for Socialist Alternatives, a Trotskyist radical magazine in the U.K.
Starmer became a lawyer in 1987 and began a career "defending ordinary people against the powerful," as the official Labour Party site states in his biography.
This meant representing labor unions against corporations and working on high-profile human rights cases, which included defending convicts sentenced for death penalty.
In 2008, he was appointed director of public prosecutions by the Crown, launching his public servant career. This position is the third most senior public prosecutor position in England and Wales, behind only the attorney general and solicitor general.
During seven years in this position he enjoyed public exposure, becoming the main prosecutor in high-profile cases which included the trials of several MPs found guilty in a parliamentary expenses scandal.&nbsp;
He was knighted for his contributions to law and order in 2014.
Also Read:&nbsp;
<ul>
<li><a href="https://www.benzinga.com//node/39585183">Tesla, Other US Automakers Lose Ground In UK To Chinese And Domestic Players</a></li>
</ul>
His political career is short-lived, compared to other MPs. He was appointed as a candidate for Parliament in late 2014, less than 10 years ago. In 2015 he became a member of the House of Commons for Labour. 
He was named Shadow Brexit Minister, a position within the opposition that centralized his party's opinions on Brexit, one of the most cataclysmic events in recent U.K. history.
Jump to 2020, and Starmer had risen to opposition leader within the Labour Party, after previous leader Jeremy Corbyn lost by a landslide against Conservative Boris Johnson in the 2019 elections.
<h3 class="wp-block-heading">What Does Keir Starmer Stand For?</h3>
At 61 years old, Starmer seems to have pulled away from his Marxist background for more moderate centrist position that seeks to bring back credibility to the Labour Party.
His calm, managerial and unassuming public personality has been deemed "boring," yet it might be exactly the face that the U.K. government needs today to counteract a credibility crisis that has taken it to the lowest approval levels in decades. Only 27% of the population said they trusted the government in March, as per the Office for National Statistics.
"A vote for Labour is a vote for stability — economic and political," Starmer said during his most recent campaign.
Over the five years that went by since Labour's dramatic loss to the Conservatives in 2019, Starmer has worked to weed out the far-left elements of his party. A symbolic step in this direction occurred in 2020 when former leader Corbyn was ousted following his reaction to claims of antisemitism within the party.
Corbyn won a seat in the Parliament as an independent in this year's election. But his expulsion from the party also meant a break with some of his most leftist policies.
Starmer's concessions toward a more moderate stance — which arguably got him elected — include dialing back on Labour's most extreme proposals, like increasing the income tax or dropping university tuition fees, as The Guardian has <a href="https://www.theguardian.com/commentisfree/2023/may/03/labour-tuition-fees-keir-starmer-political-party-british-democratic-history">reported</a>. Several plans to nationalize public services have also been taken out of the Labour conversation.
Starmer's main quest is one of consensus and order. He said during his campaign he won't commit to promises that he can't fulfill, putting the focus on fixing the country's housing crisis and its decaying public health system. This is a challenging task, as the new MP has vowed not to increase taxes for the general population or deepen public debt.
UK-US Relations Under Starmer: Politically, Starmer's government is more aligned with U.S. Democrats. This means that the future of international relations across the Atlantic depends widely <a href="https://www.benzinga.com/news/24/07/39618327/economics-will-define-2024-election-comparing-trump-and-biden-presidencies">on the results of November's election in the U.S.</a>
If Joe Biden — <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">or another Democratic candidate</a> — were to win, that would likely bring about a brighter future for U.K.-U.S. relations than if Donald Trump is elected president.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/39585183">One To The Right, One To The Left: France&#8217;s National Rally Set For Record Win As The UK&#8217;s Labour Party Regains Support</a></li>
</ul>
Picture: Official portrait of Keir Starmer, taken in June 2017, via Wikimedia Commons.

Politics

Global

Who Is The UK's New Prime Minister Keir Starmer And What Does He Stand For?

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>

$SHIB

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

Tech

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:
<ul>
<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

Media

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 $12. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We have increased our <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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:
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<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

Analyst Color

Upgrades

Price Target

Analyst Ratings

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;
<ul>
<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.
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.
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

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:
<ul>
<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;
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<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.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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

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.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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

SPACE

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.

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: 
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</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

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While it&rsquo;s unclear whether the current bull market <a href="https://fortune.com/2024/06/17/stock-market-outlook-raging-bull-peak-indicators-sp500-forecasts/">has more runway</a>, or is veering towards a correction, you may want to take action now and jettison overvalued stocks to sell from your portfolio. In fact, irrespective of whether the broad market surges, sinks or trades sideways from here over the next few months, individual overvalued stocks can still be at risk of experiencing severe price declines.



Stocks become overvalued, when the market extrapolates near-term trends, pricing in the expected long-term growth as a near certainty. These stocks can also often be known as being &ldquo;priced for perfection&rdquo; stocks. They can stay &ldquo;priced for perfection&rdquo; as long as the bullish narrative persists. But, each of them may be one bad earnings release away from experiencing a sharp price reversal.



Also, there are beaten down stocks that, despite becoming considerably cheaper, are still overvalued, as factors like industry headwinds and deteriorating fundamentals remain not yet fully priced-in. These types of stocks are at risk of further declines, as the market concedes that a particular situation has gone from bad to worse. Below are seven stocks that fit into either of these categories. Consider them overvalued stocks to sell, before it&rsquo;s too late.



<h2>Boeing (BA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/12/boeing-737-max-ba-1600-300x169.jpg" alt="image of a Boeing (BA) 737 max aircraft. stocks to buy and sell related to Boeing"><div>Source: Marco Menezes / Shutterstock.com</div></div>Boeing (NYSE:<a href="https://investorplace.com/stock-quotes/ba-stock-quote/">BA</a>) is an example of an overvalued stock that fits best in the latter category mentioned above. Shares in the aerospace giant have been hammered by the fallout from aircraft safety incidents, and the resultant delays in the company&rsquo;s post-Covid rebound in new aircraft delivery.



After falling by nearly 30% year-to-date, you may at first assume that recent headwinds have become fully factored into the price of BA stock. However, it&rsquo;s not as if this year&rsquo;s problems have resulted in Boeing sinking down to a fire sale valuation. At current prices, BA trades for <a href="https://seekingalpha.com/symbol/BA/earnings">34.9 times analyst consensus</a> for 2025 earnings. If, in the coming quarters, it becomes more apparent that the Boeing comeback will be delayed, or will arrive more slowly than currently anticipated, an additional price decline may be in store.



That&rsquo;s not all. Boeing&rsquo;s late-2010s 737 safety headwinds, including two fatal plane crashes, haven&rsquo;t fully gone away. Families of the victims are now pushing for the U.S. Department of Justice to fine Boeing <a href="https://www.bloomberg.com/news/articles/2024-06-19/737-max-crash-victims-families-seek-25-billion-fine-on-boeing">nearly $25 billion</a>. Even if the company ultimately isn&rsquo;t on the hook for such a figure, this could in the near-term also weigh on valuation.



<h2>Cava (CAVA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/cava1600-2-300x169.png" alt="Cava Group is a restaurant chain founded in 2006 in Rockville, Maryland, by Ted Xenohristos, Chef Dimitri Moshovitis and Ike Grigoropoulos."><div>Source: Nicole Glass Photography / Shutterstock.com</div></div>This isn&rsquo;t the first time I&rsquo;ve called Cava (NYSE:<a href="https://investorplace.com/stock-quotes/cava-stock-quote/">CAVA</a>) one of the overvalued stocks to sell. Back in April, I argued that shares in the Mediterranean restaurant chain were very overvalued, and <a href="https://investorplace.com/2024/04/7-high-flying-stocks-that-are-majorly-overdue-for-a-pullback/">on the verge of pulling back due to profit taking</a> after the company&rsquo;s latest earnings release.



Admittedly, this failed to pan out. Instead of pulling back post-earnings, CAVA stock surged even higher, and just recent hit a new all-time high. Even so, while Cava has remained one of the hottest stocks out there, if you own it, at the very least you may want to take some risk off the table. At current prices, CAVA trades for 263.5 times forward earnings.



This valuation appears particularly rich, considering that sell-side forecasts only call for revenue and earnings growth next year of 20% and 25.7%, respectively. Wall Street&rsquo;s sell-side community has already started to ring the warning bells. Earlier this month, analysts at JP Morgan downgraded CAVA to &ldquo;neutral&rdquo; from &ldquo;buy,&rdquo; giving the stock a <a href="https://www.investing.com/news/company-news/jpmorgan-downgrades-cava-group-stock-to-neutral-on-valuation-concerns-93CH-3467304">$77 per share price target</a>, citing valuation concerns.



<h2>Casella Waste Systems (CWST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/cwst-stock-1-300x169.jpg" alt='An image of a magnifying glass zooming in on an Apple web page with a red, yellow, and green circle buttons, two arrow buttons, another button, and the "Casella" logo.'><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Over the past decade, Casella Waste Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/cwst-stock-quote/">CWST</a>) has been scaling itself up towards the size of its larger competitors in the waste management industry, such as Waste Management (NYSE:<a href="https://investorplace.com/stock-quotes/wm-stock-quote/">WM</a>) and Republic Services (NYSE:<a href="https://investorplace.com/stock-quotes/rsg-stock-quote/">RSG</a>).



The resultant compounding in earnings growth has of course been a boon for long-term CWST stock investors. Shares are up nearly 20-fold since 2014. Yet after this incredible run, Casella may not be top of the heap for much longer. At current prices, shares sell for a staggering 126.6 times forward earnings. This represents a massive valuation premium to WM and RSG, which trade at forward price-to-earnings (P/E) multiples of 28.5 and 31.7, respectively.



Yes, Casella <a href="https://www.wastedive.com/news/casella-q4-2023-earnings/707829/">continues to buy up competitors</a> and wring out cost efficiencies. As a result, CWST is expected to continue reporting high levels of per-share earnings growth. Current consensus calls for earnings per share to rise by <a href="https://seekingalpha.com/symbol/CWST/earnings">56.4%</a> next year. Still, with expectations set so high, falling even slightly short of them could drive a big correction for the stock. On a longer time frame, CWST&rsquo;s valuation could normalize, meaning that while earnings growth continues, shares underperform, as fundamentals catch up with valuation.



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/nio1600-8-300x169.png" alt="A mobile with NIO at horizontal composition."><div>Source: Freer / Shutterstock.com</div></div>Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) has fallen considerably since 2021, when vehicle electrification stocks peaked in popularity. Once trading for prices above $60 per share, today shares in this China EV maker trade for around $4.30 per share.



But while NIO stock has fallen into penny stock territory, make no mistake. This remains one of the overvalued stocks to sell. The company sports a nearly $9 billion valuation, despite continued heavy losses, as well as continued issues with getting back into high-growth mode. Although the company&rsquo;s latest <a href="https://ir.nio.com/news-releases/news-release-details/nio-inc-provides-may-2024-delivery-update">monthly delivery numbers</a> may suggest that it&rsquo;s heading back into the growth fast lane, Louis Navellier and the InvestorPlace Research Staff <a href="https://investorplace.com/market360/2024/06/even-at-rock-bottom-prices-nio-stock-is-no-bargain/">begs to differ</a>.



As Navllier recently argued, Nio&rsquo;s hyping up its potential to experience a growth resurgence. Why? High competition in the Chinese EV market calls it into question. Moreover, recent trade tensions between the U.S. and China could limit Nio&rsquo;s global expansion plans, including in Europe. In the quarters ahead, if operating performance fails to dramatically improve, and further cash burn leads to a growing likelihood for additional dilutive capital raises, expect a further correction for NIO.



<h2>Roblox (RBLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/rblx1600-300x169.png" alt="A smartphone displaying a web page for Roblox Corp (RBLX)."><div>Source: Koshiro K / Shutterstock.com</div></div>Excitement about the metaverse growth peaked in 2022. Since 2023, it&rsquo;s taken a backseat to excitement over the generative AI growth trend. Hence, it&rsquo;s not surprising that Roblox (NYSE:<a href="https://investorplace.com/stock-quotes/rblx-stock-quote/">RBLX</a>) shares have fallen by nearly 75% from their all-time closing high of <a href="https://www.macrotrends.net/stocks/charts/RBLX/roblox/stock-price-history">$134.72 per share</a>.



That said, even after this tremendous price decline, I wouldn&rsquo;t call the video game platform operator&rsquo;s shares a bargain. The company sports a valuation of around $23 billion. This comes despite Roblox continuing to be unprofitable. Yes, sales growth has continued to steadily climb. Losses have also narrowed. All of this may suggest that RBLX can at the very least grow into its valuation, but that&rsquo;s hardly a given. At least, based upon the guidance that accompanied RBLX&rsquo;s latest quarterly earnings release.



The latest outlook <a href="https://www.barrons.com/articles/roblox-stock-price-earnings-bookings-guidance-5a0c99b0?mod=md_stockoverview_news">fell short of sell-side expectations</a>. For this alone, shares fell by around 22% immediately after earnings back in May. A continued de-rating for Roblox may occur, if growth keeps slowing down, and subsequent guidance quells growth resurgence hopes. Barring renewed enthusiasm for metaverse stocks, be cautious. Sell or stay away from RBLX.



<h2>Reddit (RDDT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/rddt1600-3-300x169.png" alt="Reddit logo displayed on a smartphone device. RDDT stock"><div>Source: Ink Drop / Shutterstock.com</div></div>Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) is another name I&rsquo;ve pointed out as being <a href="https://investorplace.com/2024/06/7-over-hyed-stocks-to-sell-before-they-plunge-june-edition/">one of the overvalued stocks to sell</a>. Shares in the social media platform have experienced roller coaster price action, since debuting in the public markets in March.



However, at current prices in the high-$50s per share, RDDT stock is overvalued compared to current fundamentals. Right now, investors are pricing into Reddit the possibility of the company capitalizing greatly on the gen AI boom. Namely, <a href="https://apnews.com/article/reddit-openai-chatgpt-bd2291fcc226bc737a44dbef4a31563f">through a collaboration</a> with ChatGPT developer OpenAI. Also, while not certain, the latest wave of &ldquo;meme mania&rdquo; in the stock market may be having a positive impact on the valuation of RDDT. 



However, &ldquo;meme mania&rdquo; is heading into the sunset once again. It&rsquo;s very possible that AI-related upside was already priced into RDDT at the time of its IPO. Shares are already starting to pull back, so a return to the stock&rsquo;s 52-week low in the high-$30s may be just around the corner. Reddit&rsquo;s stock market subreddits may or may not be a great source for investing ideas, but RDDT is not a great idea for profit-seeking investors right now.



<h2>Snowflake (SNOW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/snowflake-company-300x169.jpg" alt="The Snowflake logo on a company office in Silicon Valley, California. (SNOW stock)"><div>Source: Sundry Photography / Shutterstock.com</div></div>Snowflake (NYSE:<a href="https://investorplace.com/stock-quotes/snow-stock-quote/">SNOW</a>) shares have fallen by nearly 50% since March. Following this big price decline, you may think that this cloud data stock has finally fallen to a reasonable price. However, even after such a massive haircut, SNOW continues to sport a triple-digit multiple.



That is, at current prices, SNOW trades for 200.5 times forward earnings. Investors are nowhere near as hyped-up about Snowflake&rsquo;s AI potential as they were just before the <a href="https://www.barrons.com/articles/snowflake-stock-price-ai-5a412f3e?mod=md_stockoverview_news">disappointing guidance update</a> that triggered its avalanche of a price decline, but some may be holding hope &ldquo;better than feared&rdquo; results are just around the corner. It&rsquo;s perfectly fine to make this wager. After all, Snowflake recently provided some <a href="https://www.reuters.com/technology/snowflake-sees-second-quarter-product-revenue-above-estimates-2024-05-22/">upbeat guidance for the current quarter</a>.



However, keep in mind that downside risk still runs high. If Snowflake&rsquo;s launch of new AI products fails to shore up its growth, another massive de-rating could take shape. At such a high forward multiple, the stock could experience another 50%, 60%, maybe even a 70% price decline, and still be in overvalued territory. With far less pricey ways to play the AI growth trend out there, don&rsquo;t waste your time or risk your capital with SNOW.



On the date of publication, Thomas Niel did not hold (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>Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/maximize-gains-sell-these-7-overvalued-stocks-before-they-slide/">Maximize Gains: Sell These 7 Overvalued Stocks Before They Slide</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Maximize Gains: Sell These 7 Overvalued Stocks Before They Slide

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Social media site Reddit (NASDAQ:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) has one glaring problem that holds it back from getting ahead. Most of its users <a href="https://investorplace.com/2024/05/reddit-stock-analysis-is-rddt-the-real-deal-or-a-meme-fantasy/">don&rsquo;t log into the platform</a> but simply skim the comments. While that means they can&rsquo;t create posts or comment on them, most people prefer to just read what others have to say.



That&rsquo;s bad for Reddit stock because most of the money the social media site makes comes from ads on its homepage that logged in users view. 



Since Reddit&rsquo;s potential for growth is based on user engagement, the fact that most people on the site aren&rsquo;t engaging with it is a significant problem.



Yet Reddit has a plan that may overcome this flaw in its business that could lead to substantial revenue growth.



<h2>Engaging With Ads</h2>



According to a Barron&rsquo;s report, analysts at JMP Securities say Reddit is planning to start <a href="https://www.barrons.com/livecoverage/stock-market-today-061824/card/reddit-revenue-would-get-a-boost-from-ads-in-comments-3PwSoqvfpNXJyo2myb88?siteid=yhoof2">running ads in its comments</a> section. 



That way users can view them whether they are logged into the site or not. The analysts believe it can attract even more advertisers to the platform to drive revenue significantly higher.



Ad revenue rose 39% in Reddit&rsquo;s first quarter as a publicly traded company. Ads accounted for 92% of the social media site&rsquo;s total revenue for the quarter.



Yet the plan is not quite so new as you may believe. Reddit users say the platform has been experimenting with the idea for at least a year now. 



A user <a href="https://www.reddit.com/r/Save3rdPartyApps/comments/14ug2sb/theyre_putting_the_ads_directly_in_the_comments/#lightbox">posted an image</a> of a Walmart (NYSE:<a href="https://investorplace.com/stock-quotes/wmt-stock-quote/">WMT</a>) ad in the comments that was promoting Walmart+. Notably, the ad didn&rsquo;t seem especially relevant to the discussion.



<h2>Advertising Backlash and Reddit Stock</h2>



More ads in the comments section, though, could also open up the advertisers to user criticism. 



Reddit isn&rsquo;t quite like the old 4Chan forums but there is a lot of trash talking that occurs on the site (there is another word for such posts that can&rsquo;t be used on a family-friendly investment site) and could open up the advertiser to more negative feedback than they would care to receive. 



Worse, they could just be ignored.



Although Reddit claims a User Respondent Survey found 61% of ads on the site are more relevant than on other sites.



The same percentage says they <a href="https://www.sec.gov/Archives/edgar/data/1713445/000162828024011789/reddit-sx1a3.htm">pay more attention to ads</a> they see on Reddit more than elsewhere. Flooding the comments section with ads could stir up a hornet&rsquo;s nest of negativity.



Moreover, it may induce its logged in users to install ad blockers. It is a problem Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, <a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) is facing with YouTube.&nbsp;



<h2>The Race for More Revenue</h2>



In a bid to increase ad revenue, the video sharing site has been flooding the site with more ads and have them run for longer periods of time. 



Where ads used to be five seconds before you could hit the skip button, now they make you sit for 20 seconds or more before skipping them, if at all. Recently ad run times have gone as high as a minute. 



It also makes YouTube almost unwatchable.



But ad blocker site SponsorBlock says Google is trying to <a href="https://x.com/SponsorBlock/status/1800835402666054072?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1800835402666054072%7Ctwgr%5E4adcae4d3566b695231fac5eb378be166b9354e3%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fembedly.forbes.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Dcfc0fb0733504c77aa4a6ac07caaffc7schema%3Dtwitterurl%3Dhttps3A%2F%2Fx.com%2FSponsorBlock%2Fstatus%2F1800835402666054072image%3D">defeat ad blockers</a> by inserting ads directly into the video stream instead of having them run on top.



Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) also started inserting ads into its movies and TV shows too. What was once a safe haven from having to watch commercials has devolved into a race to the bottom where we&rsquo;re now paying for ads when broadcast TV is free. 



Heck, even cable was essentially ad-free.



<h2>Short-Term Salve for Reddit Stock</h2>



While Reddit&rsquo;s plan could initially boost revenue as advertisers try to reach a new and different audience, more ads also raise the risk of users ignoring them. 



The more you see of something the more it tends to blur into the background. It could have <a href="https://investorplace.com/2024/06/3-tech-stocks-to-sell-in-june-before-they-crash-burn/">negative implications for Reddit stock</a> too.



Although it might not be as easy as holding your finger over a countdown timer to skip a YouTube ads Reddit comment section ads might not be nearly as effective as the social media site hopes. It may not be the long-term solution Reddit needs to grow.



On the date of publication, Rich Duprey did not hold (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>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/06/reddit-stocks-risky-bet-will-flooding-comments-with-ads-save-or-sink-rddt/">Reddit Stock&#8217;s Risky Bet: Will Flooding Comments With Ads Save or Sink RDDT?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Reddit Stock's Risky Bet: Will Flooding Comments With Ads Save or Sink RDDT?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/technology/">Technology stocks</a> remain hot with plenty of <a href="https://finance.yahoo.com/news/boost-portfolio-top-computer-technology-130009304.html">great options to choose</a> right now. Cybersecurity, cryptocurrencies, social media and anything related to artificial intelligence (AI) have the attention of investors and analysts. And this has sent the share prices of these companies sharply higher.



Further, many tech stocks have enjoyed blistering rallies since the current bull market began in late 2022. Yet, investors still have an opportunity to take positions in strong tech stocks. And, they can <a href="https://www.investing.com/news/stock-market-news/nasdaq-futures-rise-as-nvidia-stabilizes-after-ai-stocks-rout-3495242">ride their share prices</a> to even greater heights. Many tech stocks that have performed strongly in recent months are expected to keep on rallying going forward.



So, let&rsquo;s delve into three of the smartest tech stocks to buy with $5,000 right now.



<h2>CrowdStrike Holdings (CRWD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/crwd_crowdstrike_1600-300x169.png" alt="Mobile phone with website of American software company CrowdStrike Holdings (CRWD) Inc. on screen in front of website. Focus on top-center of phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Cybersecurity remains a hot area of tech, and CrowdStrike Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/crwd-stock-quote/">CRWD</a>) is a top pick. The company&rsquo;s stock has proven to be a long-term winner. It gained 56% this year, 172% in the last 12 months and 500% since going public five years ago. CRWD stock has steadily marched higher amid strong growth and powerhouse financial results. Recently, the stock was <a href="https://www.cnbc.com/2024/06/10/crowdstrike-rallies-on-cybersecurity-companys-inclusion-in-sp-500-.html">added to the S&amp;P 500 index</a>.



Also, CrowdStrike reported financial results for this year&rsquo;s Q1 that <a href="https://www.fxempire.com/forecasts/article/crowdstrikes-growing-sales-send-stock-soaring-1441137">beat Wall Street estimates</a> on the top and bottom lines. The cybersecurity firm reported EPS of 93 cents, beating consensus estimates of 89 cents. Revenue totaled $921 million, up 34% from a year earlier and ahead of estimates that called for $905 million in sales. CrowdStrike&rsquo;s free cash flow stood at $322.5 million at quarter&rsquo;s end, up 42% from the previous year.



Analysts continue to rate CrowdStrike stock a <a href="https://www.tipranks.com/stocks/crwd/forecast">strong buy</a>. All 31 analysts who track the company&rsquo;s progress giving the shares a buy rating.



<h2>Robinhood Markets (HOOD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/hood1600-300x169.png" alt="The Robinood app logo with the Robinhood (HOOD) website logo in the background."><div>Source: Fluna nightEtJ / Shutterstock.com</div></div>Online brokerage Robinhood Markets (NASDAQ:<a href="https://investorplace.com/stock-quotes/hood-stock-quote/">HOOD</a>) is another tech stock that has been <a href="https://www.baystreet.ca/techinsider/4312/Robinhood-Markets-Announces-1-Billion-Stock-Buyback4312">on fire this year</a>. 



So far in 2024, HOOD stock has gained 80%, bringing its 12 month increase to 130%. The company&rsquo;s share price has been rising amid the current bull market as retail investors return to the fray and trade stocks more frequently. Also, Robinhood Markets has gotten a boost from the rebound in cryptocurrency trading.



Further, HOOD is expanding its role in cryptocurrency through the acquisition of privately held crypto exchange Bitstamp for $200 million in cash. The purchase is the largest deal in the company&rsquo;s 11-year history and moves it further into the <a href="https://www.cbsnews.com/news/robinhood-to-acquire-bitstamp-crypto-expansion/">trading of cryptocurrencies</a>. Analysts say the purchase of Bitstamp puts Robinhood Marketsin direct competition with the largest cryptocurrency exchanges, Binance and Coinbase Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>).



Additionally, Bitstamp&rsquo;s crypto exchange is popular in Europe and Asia, offering more than 85 tradable assets that include products such as staking and lending. HOOD&rsquo;s cryptocurrency business is seeing rapid growth fueled by price increases for digital assets. Crypto trading was largely responsible for Robinhood Martkets reporting <a href="https://www.barrons.com/articles/robinhood-stock-more-room-to-run-gamestop-0f4e2df3">record first-quarter financial results</a>.



<h2>Reddit (RDDT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/rddt1600-300x169.jpg" alt="Reddit (RDDT) paper logo lies with envelope full of dollar bills and smartphone. Reddit IPO"><div>Source: Mehaniq / Shutterstock.com</div></div>Social media company Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) has a lot going for it. The company recently announced <a href="https://ca.news.yahoo.com/openai-strikes-deal-bring-reddit-204756970.html">a new partnership</a> with AI start-up company OpenAI. The OpenAI partnership is expected to attract more users to Reddit&rsquo;s social media platform with AI-enhancements and more advertising. Specifically, the new partnership allows Reddit to leverage OpenAI&rsquo;s technology, including its ChatGPT platform, to build tools and features that integrate Reddit&rsquo;s content in real-time.



Also, OpenAI has committed to becoming an advertising partner of Reddit, which runs online message boards, including the popular <a href="https://www.reddit.com/r/wallstreetbets/">WallStreetBets site</a>. Reddit generates nearly all of its revenue from online advertising on its message boards. The company currently has 82 million active users. RDDT went public on March 21 of this year, and its first earnings report as a publicly traded company was impressive.



The still unprofitable company reported <a href="https://www.cnbc.com/2024/05/07/reddit-rddt-q1-2024-earnings.html">a loss per share</a> of $8.19, which was not as bad as a loss of $8.71 that was expected among analysts. Revenue in the quarter totaled $243 million versus $212.8 million that was forecast on Wall Street. Sales rose 48% from a year earlier. And, Reddit reported $222.7 million in advertising revenue for the quarter, up nearly 40% year-over-year. RDDT stock has increased 33% since the March IPO.



On the date of publication, Joel Baglole 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&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/the-3-smartest-tech-stocks-to-buy-with-5000-right-now/">The 3 Smartest Tech Stocks to Buy With $5,000 Right Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Smartest Tech Stocks to Buy With $5,000 Right Now

Trump Media & Technology Group: Shares Are Nearly Worthless

GenAI set to impact wide range of online consumer habits: Goldman Sachs

Date Your Stocks, Don't Marry Them - Jonah Lupton

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Up 45% since its initial public offering in March of this year, Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) has emerged as one of the best <a href="https://investorplace.com/industries/technology/">technology stocks</a> that investors can buy. Reddit stock has come out of the as gate strong as just about any company that&rsquo;s <a href="https://www.morningstar.ca/ca/news/247569/reddit-stock-surges-in-ipo.aspx">held an IPO</a> in the last four years. 



In the last month alone, the stock has risen nearly 20% on the back of a much better-than-expected debut earnings report and a slew of positive news that is expected to drive the company to a prosperous future. With growing momentum, RDDT stock looks poised for further gains.



<h2>A Solid First Print </h2>



Reddit, which runs online message boards such as the infamous <a href="https://www.reddit.com/r/wallstreetbets/">WallStreetBets</a>, came out with an inaugural earnings print that was very strong. 



Less than two months after going public, the still unprofitable Reddit reported a loss per share of $8.19, which was not as bad as a loss of $8.71 that was expected among analysts. 



Revenue in what was this year&rsquo;s first quarter totaled $243 million versus $212.8 million expected on Wall Street. Sales were up an impressive 48% from a year earlier.



More importantly, Reddit announced $222.7 million in <a href="https://www.cnbc.com/2024/05/07/reddit-rddt-q1-2024-earnings.html">advertising revenue</a> for the quarter, up nearly 40% year over year. 



The company said that it had 82.7 million daily active users at the end of Q1, more than the 76.6 million expected by analysts. Average revenue per user rose 8% to $2.94. 



Reddit&rsquo;s stock jumped 15% higher on news of the stellar first earnings report, which surpassed even the most bullish forecasts.



<h2>OpenAI Partnership </h2>



In addition to its excellent Q1 results, Reddit stock is also rising on news that the company has formed a potentially lucrative <a href="https://www.reuters.com/technology/reddit-stock-jumps-after-openai-partnership-2024-05-17/">partnership with OpenAI</a>. 



The new partnership allows Reddit to leverage OpenAI&rsquo;s technology, including its ChatGPT platform, to build tools and features that integrate Reddit&rsquo;s content in real-time.



OpenAI has also committed to becoming <a href="https://www.investopedia.com/reddit-stock-soars-after-company-inks-partnership-with-chatgpt-owner-openai-8649996">an advertising partner</a> of Reddit, which is huge as the company continues to generate nearly 100% of its revenue from online advertising on its message boards. 



The OpenAI partnership is expected to attract more users to Reddit&rsquo;s social media platform with AI-enhancements and increased advertising. RDDT stock rose 11% on news of the partnership with OpenAI.



More recently, Reddit stock increased 9% after the company publicly announced a new platform update that <a href="https://www.benzinga.com/markets/equities/24/06/39494776/reddit-stock-surges-nearly-9-after-announcing-new-platform-update-to-block-automated-content-scr">blocks content scraping</a> on its message boards by AI startup companies. 



This was an issue that had riled up Reddit users, who were concerned that their posts and data on the social media site were being taken without permission and used to inform generative AI applications and models.



<h2>Buy Reddit Stock </h2>



Reddit stock seems to have momentum behind it and is likely headed for more gains. Since going public a few months ago, the company has <a href="https://www.barrons.com/articles/reddit-stock-price-openai-chatgpt-4cf72ed1">won over its detractors</a> with strong financial results and its partnership with OpenAI. 



The company&rsquo;s social media site appears to be attracting a growing and loyal user base, and the opportunity presented by AI looks appealing as well. Given its impressive gains and bright future, Reddit stock is a buy.



On the date of publication, Joel Baglole 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&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/07/45-post-ipo-surge-why-reddit-stock-might-be-your-best-tech-bet-of-2024/">45% Post-IPO Surge: Why Reddit Stock Might Be Your Best Tech Bet of 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

45% Post-IPO Surge: Why Reddit Stock Might Be Your Best Tech Bet of 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Though Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) may have been the most recent big-name IPO, the initial listings market is still cooking, and undervalued IPO stocks abound. The last undervalued IPO stock I picked at the <a href="https://investorplace.com/2024/06/penny-stocks-that-pack-a-punch-3-names-to-ride-for-10x-gains/">beginning of June,</a> Nano Nuclear Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/nne-stock-quote/">NNE</a>), returned over 300% since I first noticed it, further proving that undervalued IPO stocks are out there if you know where to look.



In general, the wider IPO market is improving as the year&rsquo;s first half saw <a href="https://www.ey.com/en_gl/insights/ipo/trends">86 U.S.-based IPOs</a> raise nearly $18 billion, a 12% and 67% improvement, respectively, compared to 2024&rsquo;s first half. That does, of course, still pale compared to 2021&rsquo;s shockingly high IPO rates that raised more than $450 globally, but still far better than last year as economic conditions soften. This, of course, benefits undervalued IPO stocks as many still shy away from their inherent &ldquo;opening day&rdquo; risk. These undervalued IPOs often fly under the radar as investors focus primarily on tech and mega-caps &mdash; but that doesn&rsquo;t detract from their long-term upside.



<h2>Viking Holdings (VIK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/vik1600-300x169.png" alt="MV Viking Star in North Sea Canal. Detail of funnel. VIK stock and VIK IPO"><div>Source: StudioPortoSabbia / Shutterstock.com</div></div>Viking Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/vik-stock-quote/">VIK</a>) is an undervalued IPO stock operating within a segment that&rsquo;s been beaten down in recent years but is due for a resurgence: luxury cruising and passenger transport. The cruise liner stock accomplishes this with a fleet of almost 100 small, high-tech ships. Viking is the largest undervalued IPO stock on our list at a $14.35 billion market cap and the company&rsquo;s shares jumped nearly 40% since first listing in May.



The company&rsquo;s <a href="https://d1io3yog0oux5.cloudfront.net/_d2eabbad631141770d0deb474fe836e3/vikingcruises/db/947/9193/presentation/Earnings+Presentation.pdf">waterborne operations</a> primarily focus on river boating, with 80 existing vessels and 18 more to be delivered in the next two years. But Viking is increasing its oceanic presence and will augment its existing nine seafaring ships with eight more by the end of the decade. Viking seeks to differentiate itself from most cruise liners, which emphasizes partying and ship-centric activities rather than destination arrival. A generally youth-skewing crowd says that &ldquo;Vikings are contrarians, and hence, from the beginning, the vision has been to build a different cruise line.&rdquo; This led Viking to emphasize &ldquo;quiet, understated elegance&rdquo; and a destination focus that targets older demographics of 55+.



Viking&rsquo;s financials already point to a sector-wide turnaround, with revenue improving 14% year-over-year between the first quarters of 2024 and 2023. Expect these tailwinds to continue as the undervalued IPO stock sets sail.



<h2>Proficient Auto Logistics (PAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/danaos-dac-shipping-transportation-1600-300x169.jpg" alt="A photo of a large shipping vessel at sea."><div>Source: Daniel Wright98 / Shutterstock.com</div></div>Proficient Auto Logistics (NASDAQ:<a href="https://investorplace.com/stock-quotes/pal-stock-quote/">PAL</a>) operates within a logistics and transportation segment that&rsquo;s nearly impossible to replace or substitute: vehicular transport, as in the type that brings cars from manufacturers to dealerships, ports and railyards. The company&rsquo;s IPO is unique in that it was a merger of five existing companies under a single umbrella that went public, with shares climbing about 8% since the IPO.



Proficient Auto&rsquo;s <a href="https://proficientautologistics.com/investor-relations/">customer list</a> is a who&rsquo;s who of manufacturers and includes Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), General Motors (NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>), Stellantis (NYSE:<a href="https://investorplace.com/stock-quotes/stla-stock-quote/">STLA</a>) and Rivian (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>). Though some car manufacturers, like Tesla, prefer to vertically integrate their value chain as much as possible, logistics of this type tends to be a bridge too far from a pricing and resource management perspective, so Proficient Auto has plenty of business in its future.



Proficient saw its net deliveries slump in 2023 amid labor strikes at General Motors and Stellantis and generally reduced consumer interest in car purchases. But that downward trend is already reversing as the company&rsquo;s total units delivered increased by 2% in this year&rsquo;s <a href="https://proficientautologistics.com/wp-content/uploads/2024/06/Earnings-Release-for-Website.pdf">first quarter</a> report &mdash; expect that upward momentum to continue throughout the year as Proficient realizes synergies it created through combining multiple companies and generally improving its own internal processes.



<h2>KindlyMD (KDLY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/healthcare-1600-300x169.jpg" alt="Nurse holding a tablet with icons representing different aspects of healthcare and healthcare data representing CANO stock. Healthcare Tech Stocks. Healthcare Stocks to Buy"><div>Source: metamorworks / Shutterstock</div></div>I want to first acknowledge that, among these undervalued IPO stocks, KindlyMD (NASDAQ:<a href="https://investorplace.com/stock-quotes/kdly-stock-quote/">KDLY</a>) trades firmly in penny stock territory at less than $3 per share and a meager $15 million market cap. However, its small size makes KindlyMD&rsquo;s undervalued IPO prospects more appealing. The company operates at the forefront of two unique trends: medical cannabis, which is ready to boom, and <a href="https://kindlymd.com/about-us/">holistic treatments</a> that blend prescription medication, behavioral and mental therapy and alternative solutions that &ldquo;treat the whole person, not just their symptoms.&rdquo;



KindlyMD&rsquo;s first <a href="https://feeds.issuerdirect.com/news-release.html?newsid=8925359497374292">earnings report</a> came shortly after its IPO, and top-line numbers were considerably low at just $829,000 in revenue. But that slim sales stat is, practically speaking, a short-term hurdle toward long-term success. Specifically, KindlyMD hit a range of benchmarks that all but assure expansion and growth in the coming years. That includes becoming Utah&rsquo;s first alternative medicine company to contract under the state&rsquo;s insurance, including Medicare/Medicaid. It contracted with mega-insurer federation Blue Cross Blue Shield and secured 16% of Utah&rsquo;s current total addressable medical cannabis market. Better yet, for cannabis stock enthusiasts, KindlyMD and Curaleaf (OTCMKTS:<a href="https://investorplace.com/stock-quotes/curlf-stock-quote/">CURLF</a>) started a <a href="https://www.marketscreener.com/quote/stock/KINDLY-MD-INC-170748083/news/KindlyMD-Collaborates-with-Curaleaf-to-Expand-Patient-Education-on-Medical-Cannabis-Care-in-Utah-46945278/">collaboration</a> to expand awareness of alternative treatment opportunities throughout Utah.



On the date of publication, Jeremy Flint held no positions in the securities mentioned. 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>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-ipo-gems-flying-under-the-radar-for-now/">3 IPO Gems Flying Under the Radar (for Now)</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 IPO Gems Flying Under the Radar (for Now)

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If you&rsquo;re looking for relative value in tech after the meteoric rise of the Nasdaq 100 and the Magnificent Seven in the first half, perhaps the social media scene is worth checking out this July. Undoubtedly, the artificial intelligence revolution will change many industries in profound ways that are difficult for some to fathom.



When it comes to social media, AI has already begun to make an impact. And it&rsquo;s not just AI behind the scenes, either, with social-media titan Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>) showing off <a href="https://ai.meta.com/meta-ai/">AI</a> personas to users. Such consumer-facing AIs are intriguing, even entertaining, but they&rsquo;re likely just a hint of what&rsquo;s to come from the AI-first social media and metaverse company.



As Meta&rsquo;s AI, or LLaMA, becomes more capable with every additional billion spent on advancing the technology, rival social-media firms should seek to borrow from Mark Zuckerberg&rsquo;s growth playbook and look to AI to boost engagement and enhance the ad business.



<h2>Reddit (RDDT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/rddt1600-4-300x169.png" alt="Reddit (RDDT) app logo on a smartphone screen."><div>Source: Henry Franklin / Shutterstock.com</div></div>Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) looks to be a huge IPO success story, with the stock now up around 60% from its opening day close of $46 per share. Undoubtedly, Tuesday&rsquo;s 10% pop powered RDDT stock to a new all-time high of $73 and change.



Indeed, Reddit&rsquo;s traffic has been soaring of late, <a href="https://www.businessinsider.com/reddit-traffic-surges-from-google-search-2024-6">up 39% for May</a>, according to a report issued by Similarweb. And, no, the boom isn&rsquo;t about the latest meme stock frenzy surrounding Roaring Kitty and his latest bets.



Reddit has been <a href="https://www.reuters.com/technology/reddit-ai-content-licensing-deal-with-google-sources-say-2024-02-22/">used on</a> Alphabet&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) Google search in recent months. In an age where AI content is scattered throughout the web, many people likely seek a human perspective.



And with Reddit, they&rsquo;re getting just that. It&rsquo;s no wonder why Google is becoming a stepping stone for many seeking an answer to a question, minus the risk of getting an AI-generated hallucination.



With a mere $12.04 billion market cap, RDDT stock still has a high growth ceiling. And in the age of AI, perhaps there&rsquo;s more room for the underrated social-media play to fly.



<h2>Meta Platforms (META)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-300x169.png" alt="In this photo illustration the Meta logo seen displayed on a smartphone and in the background the Facebook logo"><div>Source: rafapress / Shutterstock.com</div></div>Meta Platforms is in the Magnificent Seven for a reason: it&rsquo;s a growth company that&rsquo;s comfortable stepping outside of its circle of competence into new frontiers &mdash; think AI and the metaverse.



Of course, jumping into an unproven, emerging market can be risky. But so, too, can being complacent and not taking any risks. As a proven capital allocator, investors should trust Zuckerberg as he positions the firm to take only smart, strategic risks.



In any case, Meta doesn&rsquo;t seem to have lost its competitive spirit, as it shoots to become even more magnificent than its six mega-cap tech peers. Though the company has been subject to regulatory scrutiny lately, specifically <a href="https://www.investopedia.com/meta-s-pay-or-consent-personalized-ads-policy-violates-dma-eu-regulators-say-8671876">from the European Union</a>, such news is mostly noise.



At the end of the day, Meta is all about going big or going home. When it comes to AI, Meta is not afraid to open up the checkbook to spend on efforts to advance its positioning in the AI race.



Given what Meta has to gain by swinging for the fences, META stock is a relative AI stock bargain at 29.3 times trailing price-to-earnings.



<h2>Tencent Holdings (TCEHY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/tcehy-stock-3-300x169.jpg" alt="Tencent (TCEHY) sign on Tencent headquarters in Shenzhen, China."><div>Source: StreetVJ / Shutterstock.com</div></div>Tencent Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/tcehy-stock-quote/">TCEHY</a>) is a Chinese internet titan behind the popular social media app Weixin, also known as WeChat, and various video-game studios. On the surface, Weixen seems like just another rival of WhatsApp for Chinese users.



While Weixen is used for keeping up with friends via messaging, the app is also used for posting Moments, similarly to a Facebook feed) paying for things and even running mini-programs. It&rsquo;s the ultimate super app, with more than <a href="https://www.statista.com/statistics/258749/most-popular-global-mobile-messenger-apps/">1.3 billion users</a>. It also provides a common interface, regardless of the smartphone or mobile operating system being used.



At 29.9 times trailing P/E, TCHEY stock looks too cheap, especially given its monopolistic positioning with Chinese users and the ability to upsell them with new services.



On the date of publication, Joey Frenette held shares of Alphabet (Class C). 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>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<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/2024/07/the-3-best-social-media-stocks-to-buy-in-july-2024/">The 3 Best Social Media Stocks to Buy in July 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Social Media Stocks to Buy in July 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Promising new IPOs are once again on everyone&rsquo;s mind after a healthy first half, which <a href="https://stockanalysis.com/ipos/statistics/">saw 96 IPOs registered in the U.S.,</a> with <a href="https://www.nasdaq.com/press-release/nasdaq-welcomes-66-ipos-first-half-2024-2024-07-02">66 IPOs filed on the Nasdaq alone,</a> netting $8.7 billion, clearly indicating investor confidence is on its way back.



IPOs are sluggish in Asia-Pacific but growing in the Americas and EMEIA (Europe, Middle East, India and Africa). Global IPO volumes <a href="https://www.ey.com/en_gl/newsroom/2024/06/global-ipo-divergence-widens-as-americas-and-emeia-surge-and-asia-pacific-slows#:~:text=Globally%2C%20in%20the%20first%20half,seeing%20robust%20growth%20in%20H1.">fell 12% in the first half of 2024,</a> while proceeds fell 16% year-over-year due to reduced Asia-Pacific activity.



The message is clear: America is still the place to raise IPO funds. Biotech alone witnessed 10 deals for $1.6 billion in Q1 2024. Rising equity markets and investor appetite for large, well-publicized mergers back this comeback; seven Q1 2024 IPOs <a href="https://www.ey.com/en_us/insights/ipo/ipo-market-trends">raised above $500 million</a> each in Q1&rsquo;24.



Tempus AI (NASDAQ:<a href="https://investorplace.com/stock-quotes/tem-stock-quote/">TEM</a>), a healthcare technology startup, <a href="https://www.tempus.com/news/pr/tempus-announces-pricing-of-initial-public-offering/">surged dramatically</a> after its Nasdaq IPO, as did Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>), <a href="https://www.reuters.com/markets/deals/reddit-set-hotly-anticipated-debut-after-pricing-ipo-top-range-2024-03-21/#:~:text=Shares%20of%20the%20San%20Francisco,selling%20shareholders%20raised%20%24748%20million.">which raised $748 million</a> in its IPO.



The 2024 IPO market <a href="https://www.marketwatch.com/story/reddit-shein-and-stripe-may-lead-a-revived-ipo-market-in-2024-9ca8693c">should be busy,</a> according to Renaissance Capital; 120 to 170 IPOs might raise $20 to $45 billion. Thus, promising new IPOs are ones to watch out for. For our analysis of promising new IPOs, we&rsquo;ll concentrate on American markets due to their size and performance this year.



<h2>Stripe</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/online-banking-1600-300x169.png" alt="Online banking. Person using online banking platform on phone"><div>Source: PopTika / Shutterstock</div></div>Stripe might debut on the U.S. markets in either 2024 or 2025, with a decision expected within the year, company founders have informed employees.



After Stripe purchased employee stocks <a href="https://www.wsj.com/finance/stripe-valuation-jumps-to-65-billion-in-employee-share-sale-deal-65255c94">worth over $65 billion in 2021,</a> the firm was valued at $95 billion, notwithstanding market fluctuations. Stripe&rsquo;s IPO might raise $2.5 billion at a value of $55 to $60 billion.



Over 21 rounds, Stripe has funded $9.4 billion, including $6.5 billion in 2023. The company has many business divisions after 67 investments, including recent ones in Remark and Vengo AI.



To develop U.K. businesses and services, Stripe released an <a href="https://stripe.com/newsroom/news/tour-london-2024#:~:text=Today%2C%20Stripe%20launched%20its%20first,directly%20from%20their%20bank%20account.">open banking-powered payment</a> method. Its sophisticated fraud prevention and detection ensure payment security and timeliness, giving it an additional edge in the new market.



As their main international payments partner, Stripe has partnered with Accor (OTCMKTS:<a href="https://investorplace.com/stock-quotes/accyy-stock-quote/">ACCYY</a>) and extended its enterprise offerings to France.



Tracking behind PayPal (NASDAQ:<a href="https://investorplace.com/stock-quotes/pypl-stock-quote/">PYPL</a>) but ahead of Block (NYSE:<a href="https://investorplace.com/stock-quotes/sq-stock-quote/">SQ</a>) and Adyen (OTCMKTS:<a href="https://investorplace.com/stock-quotes/adyey-stock-quote/">ADYEY</a>), Stripe <a href="https://capitaloneshopping.com/research/stripe-statistics/">has 17.4% of the</a> U.S. payment processing market. The firm processes over $1 trillion in payments in 2023, making it a worldwide player.



Finally, <a href="https://stripe.com/newsroom/news/sessions-2024">over 50 product announcements</a> came from the 2024 Stripe Sessions. Connect advances payment and platform technologies driven by artificial intelligence. In 23 countries, Stripe debuted Stripe Reader S700 using Oracle Opera and Adobe Commerce.



<h2>Skims</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/kim-kardashian-sec1600-300x169.png" alt="U.S. reality TV star Kim Kardashian take a walk through sightseeing of Yerevan during her visit in Armenia"><div>Source: Asatur Yesayants / Shutterstock.com</div></div>Skims, a shapewear and clothing brand co-founded by socialite and businesswoman Kim Kardashian, is valued at $4 billion <a href="https://www.nytimes.com/2023/07/19/business/dealbook/skims-kim-kardashian-fundraise.html">after closing a $270 million</a> funding round.



This makes it a sought-after possible choice among upcoming new IPOs. In five fundraising events since 2019, <a href="https://www.retaildive.com/news/kim-kardashians-skims-opens-first-permanent-store-georgetown-washington-dc/719088/">the brand has raised $701 million.</a>



Regarding going public, Skims does not have a timetable available. Former Nike (NYSE:<a href="https://investorplace.com/stock-quotes/nke-stock-quote/">NKE</a>) executive Andy Muir <a href="https://www.cityindex.com/en-uk/news-and-analysis/skims-ipo/">was appointed chief financial officer</a> last year; this action was viewed as a prelude for the IPO. That moment, however, has passed.



Still, <a href="https://www.cityindex.com/en-uk/news-and-analysis/skims-ipo/">with $750 million in sales</a> and a net profit of $190 million in 2023 &mdash; 50% higher than in past years &mdash; it is becoming impossible to overlook Skims among perhaps exciting new IPOs.



Apart from getting ready for its IPO, Skims is establishing big stores in Los Angeles and New York City to really strengthen its brand.



The first TV commercial <a href="https://www.marketingbrew.com/stories/2024/04/01/skims-tv-campaign-kim-kardashian-brand-expansion#:~:text=Skims's%20first%20TV%20spot%2C%20%E2%80%9CSkims,Kennedy%2C%20which%20created%20the%20ad">Skims</a> produced, &ldquo;SKIMS Lab,&rdquo; also appeared at the 2024 Oscars. Kim Kardashian will highlight the company&rsquo;s exclusive shapewear in upcoming commercials. Not only are well-known &ldquo;Fits Everybody&rdquo; basketball players <a href="https://www.wnba.com/news/skims-underwear-campaign">part of a new WNBA alliance</a> for the brand, but the company also designed a limited edition Team U.S.A. line-up just in time for the 2024 Olympics.



<h2>StubHub</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/rock-band-concert-300x169.jpg" alt="Image of a singer at a rock concert."><div>Source: kondr.konst/Shutterstock.com</div></div>Targeting a <a href="https://fintelegram.com/stubhub-plans-summer-ipo-with-a-target-valuation-of-16-5-billion/">value of roughly $16.5 billion,</a> StubHub is getting ready for its IPO, likely in late summer 2024. Goldman Sachs (NYSE:<a href="https://investorplace.com/stock-quotes/gs-stock-quote/">GS</a>) and JPMorgan (NYSE:<a href="https://investorplace.com/stock-quotes/jpm-stock-quote/">JPM</a>) reportedly have already delivered secretly to regulators paperwork related to StubHub going public.



From 2000 until today, StubHub has been a top live entertainment ticket marketplace. EBay (NASDAQ:<a href="https://investorplace.com/stock-quotes/ebay-stock-quote/">EBAY</a>) purchased this site in 2007; Viagogo purchased it for $4.05 billion in 2019. StubHub is secure and simple to use, with numerous corporate and sports team relationships. Ticket selection is vast in over 90 countries.



Operating in a very competitive but profitable sector, StubHub is one of the most exciting new IPOs; the secondary ticket market, projected at $2.85 billion in 2023, is forecast to expand <a href="https://straitsresearch.com/report/secondary-tickets-market">at a CAGR of 9.7%</a> to reach $6.56 billion by 2032.



StubHub has shown a clear increase in ticket sales, <a href="https://apnews.com/article/wnba-ticket-sales-1de458d78b25b8fc35a8101958fbe0e6">especially with WNBA events</a> seeing a 93% rise, indicating a strong resurgence and growing demand in the live events industry.



On the date of publication, Faizan Farooque 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>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-new-ipos-that-could-be-the-next-big-thing/">3 New IPOs That Could Be the Next Big Thing</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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