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⚡️ Elon's Master Plan
Elon Musk looks to take a page from Nvidia and Amazon, one analyst is calling for a 30% pullback and more
Charla Hojnacki
June 21, 2024
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Happy Friday Zingernation! Some meme coins are launched by sophisticated crypto experts. Some are (probably) launched by kids living in their mom’s basement. And some are launched by the son of a former president with the help of Martin Shkreli.
—Aaron Bry & Nic Chahine
Plus, check out the company using AI to help companies connect with their users and boost engagement.
MARKET SNAPSHOT
Yesterday: Wait a second… stocks are allowed to go down? No new all-time highs yesterday as the S&P 500 and Nasdaq took a breather with big names like NVIDIA and Apple closing lower on the day.
On Our Radar: Existing home sales and leading economic indicators will come out at 10am ET. It’s also a quad witching Friday, so make sure to buckle up for some extra volatility.
TOP STORY
Briefly: Tesla CEO Elon Musk teased “Master Plan 4” for the electric-vehicle maker earlier this week, promising that it will be “epic,” and a bullish analyst on Thursday added to the excitement by calling upon Tesla investors to be prepared for something else other than cars.
The Tesla Analyst: Morgan Stanley’s Adam Jonas reiterated an Overweight rating on Tesla shares and a $310 price target, implying a 70.73% upside from current levels.
So: Potential Master Plan 4 Blueprint: “Anything but cars,” said Jonas in the note regarding what could be part of Tesla’s Master Plan 4. “This will outline the “next strategic phase of Tesla’s scientific and business evolution,” the analyst said. “Ok, Tesla will still make cars, but we think investors should prepare for something else.” Here’s what Elon’s plan entails and why it could boost Tesla’s stock 70%.
PRESENTED BY BRAND ENGAGEMENT NETWORK
AI is taking off and Brand Engagement Network Inc. (NASDAQ: BNAI) is emerging as a leading player in this market. That is being made easier thanks to the recent closing of a private placement in which the company raised $4.95 million from a group of existing investors. Proceeds will be used to build out its human-like AI technology for the auto, industrial, health, financial and consumer markets.
In addition to raising cash at a premium to its stock, the company is deepening its management bench by naming Paul Chang to the newly created role of co-CEO. The former IBM executive and global president at BEN will be tasked with validating the market and growing the business commercially. Co-CEO Michael Zacharski is focused on partnerships and M&A.
AI is taking off and BEN and its investors think it will be at the forefront of the transformation. With cash in the bank and a deep management team, BEN may just pull it off. To learn more about BEN’s AI technology click here.
FIVE ZINGERS
That’s The Spirit: Boeing is reportedly closing in on an acquisition of Spirit Aerosystems in an effort to clean up its supply chain.
Canada Enters The Chat: Canada is now considering imposing tariffs on Chinese EVs, following the lead of the U.S. and EU.
Three’s A Crowd: Move aside Ozempic and Wegovy… we’ve got a new weight-loss drug from Denmark. Here’s what it means for $LLY and $NVO.
30% Is The New 30: Having FOMO on the $NVDA rally? Well one analyst is calling for a 30% pullback. Here’s how to trade it.
Take A Guess: Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.
ONE FOR THE ROAD
Briefly: Sarepta shares rose sharply in today's pre-market trading after the company announced expanded US FDA approval of ELEVIDYS to Duchenne Muscular Dystrophy patients ages 4 and above.
So: Sarepta Therapeutics shares climbed 35.2% to $166.96 in pre-market trading. Other biotech stocks, like Gilead, also got a bounce Friday morning as we head into the open.
Basically: William Blair’s Tim Lugo predicts sales of Elevidys could hit $3 billion in 2025 and $5 billion in 2027 with the expanded approval. Here are other stocks that are soaring heading into Friday’s open.
PRESENTED BY BRAND ENGAGEMENT NETWORK
AI is taking off and Brand Engagement Network Inc. (NASDAQ: BNAI) is emerging as a leading player in this market. That is being made easier thanks to the recent closing of a private placement in which the company raised $4.95 million from a group of existing investors. Proceeds will be used to build out its human-like AI technology for the auto, industrial, health, financial and consumer markets.
In addition to raising cash at a premium to its stock, the company is deepening its management bench by naming Paul Chang to the newly created role of co-CEO. The former IBM executive and global president at BEN will be tasked with validating the market and growing the business commercially. Co-CEO Michael Zacharski is focused on partnerships and M&A.
AI is taking off and BEN and its investors think it will be at the forefront of the transformation. With cash in the bank and a deep management team, BEN may just pull it off. To learn more about BEN’s AI technology click here.
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