đź’° Bye $SPY

Why investors are ditching $SPY. Plus, Google's game of Monopoly may be coming to an end.

Happy Thursday, Zingernation! When I was a kid, I hated when I asked my mom for Fruit Loops and she came home with “Fruit Rounds” instead. But alas, youth is fleeting. Now that I’m old and wise, I see the value in getting the same thing for less money.

–Aaron Bry and Nic Chahine

Today’s Price Action:

$SPY: +.58%
$QQQ: +.22%
$DIA: +.90%

Plus, copper might be the most overlooked investment opportunity right now. Here’s how you can capitalize.

And, did someone forward you this email? Click here to subscribe to this Benzinga newsletter and more.

TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
Daniel Craig Monopoly GIF by Sky HISTORY UK

Briefly: Closing arguments for the largest antitrust trial against Google-parent Alphabet to date wrapped up last week. Here’s what to know.

What Happened: The case — put forth by the Justice Department in 2020, together with attorneys general from 11 states — argued that Google has engaged in anti-competitive practices to maintain its dominance in the internet search space.

Specifically: Last week, court documents revealed that Google paid Apple $20 billion in 2022 to be the default search engine on Safari, the web browser used on iPhone, iPad and Mac devices.

What Next: Judge Amit Mehta of the U.S. District Court for the District of Columbia is expected to come up with a decision before the end of the year.

Click here to read more.

PRESENTED BY SPROTT

Meet the unsung hero of the energy transition: copper! 

This versatile metal has been pivotal to human advancement for over 10,000 years, evolving from tools and currency to the backbone of modern electrical systems. 

Today, copper's role is more critical than ever, powering renewable energy and electric vehicles. As the world shifts toward cleaner energy, the demand for copper is poised to surge due to its essential role in sustainable technology.

For investors, this heightened demand presents unique opportunities, with Sprott’s Copper Miners ETF at the top of the list.

FIVE MOVERS

Duolingo shares couldn’t catch a bid after yesterday’s weak report and closed down nearly 20% today.

AMC shares moved slightly lower in today’s session after the entertainment giant and meme favorite reported worse-than-expected earnings.

Robinhood stock sold off after a strong report yesterday and ended up closing down today by around 3%.

Marathon Digital Holdings shares slumped in after-hours trading after the crypto-mining company reported weak earnings.

Upstart shares ended up today (geddit?) as investors came in to buy the dip on the beaten-down AI and personal loan play.

ONE TRADE IDEA FOR TOMORROW
Yell Level Up GIF by Xbox

Briefly: GameStop was volatile again today, popping up almost 4% after the market opened before falling from the high-of-day amid increasing interest in the stock from bulls and short sellers.

What Happened: From a technical analysis perspective, GameStop has settled into several interesting chart patterns, which has undoubtedly contributed to an increase in the number of eyes watching the stock.

Specifically: While GameStop’s technicals are bullish, it should be noted that Wall Street analysts have an average 12-month price target of $5.60, which is about 63% below the current share price.

What Next: The company is set to report its quarterly financials on June 5, which could either accelerate or destroy any potential bullish continuation.

Click here for the full technical breakdown.

PRESENTED BY SPROTT

Meet the unsung hero of the energy transition: copper! 

This versatile metal has been pivotal to human advancement for over 10,000 years, evolving from tools and currency to the backbone of modern electrical systems. 

Today, copper's role is more critical than ever, powering renewable energy and electric vehicles. As the world shifts toward cleaner energy, the demand for copper is poised to surge due to its essential role in sustainable technology.

For investors, this heightened demand presents unique opportunities, with Sprott’s Copper Miners ETF at the top of the list.