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- 🚀 The New GameStop
🚀 The New GameStop
This heavily-shorted stock beat out $GME and $AMC on the week. Plus, what's going on at OpenAI.
Brooks Dyroff
May 17, 2024
Happy Friday, Zingernation! The best clubs usually have long wait lines and bouncers to help filter out unworthy candidates. (For some reason I never get in). The S&P 500 isn’t any different. Here’s why some Redditors are speculating that this stock will be the next to join.
–Aaron Bry and Nic Chahine
Today’s Price Action:
$SPY: +.14%
$QQQ: -.05%
$DIA: +.33%
Plus, learn more about the company that’s helping businesses tap into the influencer marketing industry.
And, why haven’t you checked out the “MoneyLine” yet? Stop getting trade ideas from your buddies at the bar, and start following a pro.
TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
Briefly: Faraday Future has emerged as a stock to watch, with its recent price surge capturing the attention of both investors and market analysts.
What Happened: At last check, the Los Angeles-based company was up 33%, trading at $2.20 per share — a far cry from its 52-week high of $117.36.
Back Up: Just three weeks ago, Faraday Future faced a potential delisting from Nasdaq.
What Now: Today, it’s enjoying a remarkable rally. Faraday Future shares skyrocketed 52.6% in pre-market trading, and a staggering 134% the day before, dramatically outperforming fellow shorted stocks $GME and $AMC.
Why It Matters: This surge comes at a critical juncture, as Faraday Future was in danger of price non-compliance. The company has until June 25 to regain compliance and secure its spot on the exchange.
Read more about the move here.
PRESENTED BY IZEA
Understanding consumer behavior in e-commerce and social media is crucial in today's landscape. IZEA Worldwide Inc. recently released a report unveiling the profound impact of influencer marketing on purchasing behavior. With insights from over 1,200 American consumers, the report reveals that 59% of social media users in the US have made a purchase inspired by influencers, with 55% specifically on Amazon.
This data underscores the significant sway that influencers hold, especially on platforms like TikTok and Snapchat, where up to 78% of users buy products featured by influencers. For brands navigating this dynamic space, leveraging influencer marketing is paramount. IZEA, a pioneer in this field, offers tailored solutions through its next-gen platform, IZEA Flex, empowering brands to harness consumer behavior effectively.
ONE TRADE IDEA FOR NEXT WEEK
Briefly: Cantor Fitzgerald initiated coverage on AbbVie, a global pharma company.
So Basically: The analyst notes that the company has positioned itself to absorb Humira biosimilar erosion and achieve modest operational revenue growth.
So Then: Cantor expects robust growth to resume in 2025, with projections aligning with management’s long-term guidance of a high single-digit compound annual growth rate (CAGR) from 2024 to 2029.
So What? This forecast follows one of the largest losses of exclusivity (LOE) in the pharmaceutical industry. The analyst initiated the coverage with an Overweight rating and a price target of $200.
PRESENTED BY INFRACAP
Secure your spot now to uncover expert insights, elevate your investment knowledge and gain a competitive edge in the world of ETFs!
Date: Thursday, May 21, 2024
Time: 12 PM – 1 PM EST