Happy Wednesday, Zingers! The “buy everything related to AI” party got busted today, and the cops started dishing out tickets to bulls that held too long. Super Micro Computer, fresh off its Super Mario-style run, saw its stock drop another 6.5% today. It’s now down around 30% from its highs last Friday.

But that was before NVIDIA’s report showed up at the last minute tonight. It might just turn out to be the cool parent who promises to supervise the stragglers — or the strict one who is definitely pressing charges.

Today’s Price Action:

$SPY: +.09%
$QQQ: -.40%
$DIA: +.09%

Plus, today's partner is helping young people invest in fractional real estate.

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TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Palo Alto Networks Posts Worst Day Since IPO

Briefly: Palo Alto Networks shares got absolutely clobbered today after posting disappointing earnings results yesterday.

So Basically: Multiple analysts lowered their forecasts and price targets for $PANW today amid growth concerns. BMO’s Keith Bachman called the report “disappointing on many levels.”

So Then: The cybersecurity company’s bum day brought down names across the whole sector, including Fortinent and SentinelOne.

So What? $PANW’s stock landed more than $100 lower than where it was trading yesterday. Yesterday, the stock closed around $366 a share. Today, it closed at less than $265.

What Next: Read more here.

PRESENTED BY GROUNDFLOOR

Is Fractional Real Estate Investing The Future Of Gen Z Portfolios?

At 20% of the U.S. population, Generation Z is beginning to reshape the world of finance, shifting away from traditional investments and toward alternatives like real estate, artwork and cryptocurrencies. 

This shift is primarily driven by their financial realities: living paycheck-to-paycheck and seeking financial independence rather than more traditional markers of wealth. 

Groundfloor is tapping into this trend by offering fractional real estate investments, aligning with Gen Z's preference for accessible, technology-driven options.

For more insights into Groundfloor’s role in advancing alternative investments, visit their website. Benzinga readers earn a free $50 credit.

FIVE MOVERS

Sunrun shares got hammered after the company’s earnings report, despite announcing a new partnership with Lowe’s.

Chesapeake shares shot higher after the energy company announced it is lowering its output of natural gas.

MediaAlpha shares took off after a strong report and bullish coverage from analysts at RBC Capital and other firms.

Rivian stock moved lower by more than 15% after the electric vehicle maker failed to impress investors with its earnings report.

Wingstop shares sloughed off the bone today, closing down more than 5% after investors found the company’s report was missing some sauce.

ONE TRADE IDEA FOR TOMORROW

Amazon Remains 'Best Idea,' Analyst Says

Briefly: TikTok Shop who? JP Morgan analyst Doug Anmuth said he expects Amazon’s e-commerce business to continue to grow, and named Amazon as his top pick.

High Estimates: Anmuth anticipates an acceleration in e-commerce growth for Amazon in 2024, projecting a +8.1% year-over-year growth. In 2023, Amazon outperformed the industry’s +7.6% year-over-year growth.

High Praise: Anmuth also emphasized Amazon as the ‘Best Idea’ for long-term investment. He highlighted the company’s resilience, strategic focus and innovative endeavors in this regard.

High Growth: Beyond traditional e-commerce, Anmuth underscored Amazon’s foray into connected TV, aligning with broader streaming trends for sustained growth and future revenue streams, as catalysts for growth.

What Next: Read more here.

PRESENTED BY GROUNDFLOOR

Is Fractional Real Estate Investing The Future Of Gen Z Portfolios?

At 20% of the U.S. population, Generation Z is beginning to reshape the world of finance, shifting away from traditional investments and toward alternatives like real estate, artwork and cryptocurrencies. 

This shift is primarily driven by their financial realities: living paycheck-to-paycheck and seeking financial independence rather than more traditional markers of wealth. 

Groundfloor is tapping into this trend by offering fractional real estate investments, aligning with Gen Z's preference for accessible, technology-driven options.

For more insights into Groundfloor’s role in advancing alternative investments, visit their website. Benzinga readers earn a free $50 credit.