Happy Thursday, Zingernation! I need to find me a girlfriend that likes me half as much as Roaring Kitty likes GameStop. The speculators were right: the Kitty did sell of his option contracts yesterday. But, it looks like the proceeds went straight back into common shares.

–Aaron Bry & Nic Chahine

Today’s Price Action:

$SPY: +.20%
$QQQ: +.54%
$DIA: -.21%

Plus, have a look at the biotech company that’s using AI technology to help detect cancer before it’s a problem.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Tesla Shareholders Approve Elon Musk $56B Pay Package, Other Company Proposals

What Happened: Tesla's annual shareholders meeting shared an update on 12 items that were voted on by shareholders.

Shareholder Results: Tesla General Counsel Brandon Ehrhart shared the results of the votes with those in person and viewing online still able to vote. Polls closed at 5:08 p.m. ET.

So: Five of the seven shareholder proposals were approved. Shareholders approved all company proposals including the re-classification of Tesla's corporate headquarters from Delaware from Texas.

Pay Day: Ehrhart said shareholders approved the pay compensation package plan for CEO Elon Musk that was originally approved in 2018. Check out what else happened at the meeting here.

PRESENTED BY MAINZ BIOMED

This Biotech Bringing Together AI and mRNA Technology To Detect Cancer Before It's A Problem

Looking for the impact AI is already having on the world? Well, encouraging news in the global fight against cancer is here as Mainz Biomed (NASDAQ: MYNZ) has unveiled promising data from its recent study that shows its novel approach - which is powered by AI - to early cancer detection is working as much or more as the current leading methods. The approach uses a Fecal Immunochemical Test (FIT), DNA and mRNA biomarkers, and AI/machine learning algorithms to help doctors save lives.  Early detection of cancer can mean the difference between life and death and can help move the paradigm from treatment to prevention.

Check out what MAINZ is doing here!

FIVE MOVERS

RH’s stock sunk like a stone this afternoon, trading down more than 10% after the luxury furniture company reported some weak earnings.

Super Micro Computer shares took off today, trading higher by more than 10% on more AI hype following Broadcom’s strong quarter.

Chipotle’s stock had a nice day, closing up around 3% following some bullish analyst coverage from Goldman Sachs.

Adobe shares skyrocketed after the close on a strong report and more news on the company’s AI plans.

Boeing shares took a hit today, moving lower after the FAA said that the company was at fault for the Alaskan Airlines mishap and other issues.

ONE TRADE IDEA FOR TOMORROW

3M Analyst Moves To 'Outperform' On Strong EPS Outlook

Briefly: Wolfe Research‘s latest analysis of 3M Company marked a significant upgrade in the company’s outlook, shifting the rating from “Peer Perform” to “Outperform” and establishing a robust year-end 2024 price target of $125 per share.

What To Know: Key to Wolfe Research analyst Nigel Coe’s optimistic outlook is the appointment of Bill Brown as CEO of 3M, renowned for his successful tenure at L3Harris.

So: Coe believes Brown’s operational expertise will drive margin improvements and potentially expand the company’s valuation multiple, setting the stage for enhanced profitability in the medium term. Here are the analysts’ other reasons for getting bullish the stock.

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