Happy Tuesday Zingernation! “Liar, liar, pants on fire” goes the old playground saying. But on Wall Street, which is sometimes a playground for kids that grew up wearing Sperry’s and Patagonia vests, you don’t need to be a liar to get caught with your pants on fire.

Well, more like shorts on fire. According to S3 Partners, Tesla short sellers have lost more than $5.5 billion collectively in the four days after the company shot higher despite a pretty sub-par earnings report. But I bet if you talked to Michael Lewis he’d tell you there are some liars with their pants on fire on Wall Street as well.

-Aaron Bry and Nic Chahine

Plus, check out the Lithium company that’s helping power the EV boom.

And, crypto is so back. Billions of dollars are flowing into the new Bitcoin ETFs, driving prices to near all-time highs. Join thousands of engaged readers of Future Finance - our FREE digital assets newsletter.

MARKET SNAPSHOT

Yesterday: Let the good times roll. Markets edged higher again, making that recent sell-off feel like it never really happened.

On Our Radar: Do you like earnings? Because you’re gonna get earnings today. PayPal, Eli Lilly, McDonald’s, and more report before the open. Then we’ll hear from Amazon, AMD, Starbucks, and others after the close. I may have materially contributed to the earnings of one of the companies mentioned through late-night cheeseburger cravings, but I won’t tell you which one.

Plus: Looking to learn more about options? Join options masters Chris Capre and Matt Maley TONIGHT at 6:00 PM EST! Click here to claim your free ticket.

TOP STORY

US Treasury To Borrow $243B More This Spring

Briefly: The U.S. Treasury Department revised its marketable borrowing expectations upward for the April-June quarter. This adjustment, driven by lower-than-predicted cash receipts, sparked some market reactions by the end of the session yesterday.

The Details: The U.S. Treasury now expects to borrow $243 billion through the issuance of marketable debt securities, according to an official press release on Monday. That marks an increase of $41 billion from the prior estimates.

More Context: In addition, the department provided an update on its Q1 activities, noting that it borrowed $748 billion in net marketable debt and concluded the quarter with a cash balance of $775 billion. These figures compare favorably to previous forecasts, with the borrowing amount being $12 billion less and the cash balance $15 billion higher than expected at the end of Q4 2023.

Why This Matters: Following the announcement, immediate market reactions included a marginal rise in Treasury yields, a stronger greenback, and a brief decline in stock prices. The increase in borrowing requirements, though seemingly minor at $41 billion, hints at potential larger fiscal challenges for the U.S. government.

Click here for the full scoop.

PRESENTED BY ATLAS LITHIUM

Atlas Lithium (NASDAQ: ATLX) Announces Appointment Of Seasoned Lithium Expert Brian Talbot As Chief Operating Officer

Atlas Lithium (NASDAQ: ATLX) is strategically positioning itself in Brazil's lithium valley and hopes to meet the rising demand for high-quality lithium resources. With a focus on sustainable mining, the company has appointed industry expert Brian Talbot as the Chief Operating Officer to enhance its operational capabilities. Talbot's impressive track record in the lithium sector, combined with his successful tenure at Sigma Lithium Corporation and Galaxy Resources, is expected to drive early revenue strategy and strengthen Atlas Lithium's position in the market. 

This move underscores the company's commitment to attracting top talent to lead its development and exploration teams. Alongside a diverse and experienced leadership team, Atlas Lithium is poised to emerge as a significant supplier in the global lithium market, projected to reach $230.4 billion by 2031, amidst the increasing demand for lithium in electric vehicles and renewable energy storage systems.

Click here to read more!

FIVE ZINGERS

Viral Contagion: TikTok might have more issues coming its way. After U.S. lawmakers passed a bill that would ban the app, the EU could follow suit.

A Sugary Streak: Coca-Cola has beaten earnings estimates for 12 quarters in a row. Will the streak continue or will the stock run out of fizz?

Draft Recap: There were a handful of records set during this year’s NFL draft, including most WRs taken in the first round. But who has the best chance of winning Rookie of the Year?

All Bark, No Spark: Amid a cool-off in the overall crypto market, Dogecoin has been an absolute dog (pun intended). It’s now down more than 30% in the last month.

Just What We Needed: Some market experts have recently started to warn investors about a potential ‘stagflationary’ environment. And now a few economists say a rate hike could be on the way.

ONE FOR THE ROAD

Jim Cramer On Palo Alto Networks: 'I Would Be A Buyer…Right Here, Right Now'

What Happened: In his recent Lightning Round segment, CNBC’s Jim Cramer advised investors to consider Palo Alto Networks’ stock, despite the current market turbulence.

In Short: Cramer, the host of “Mad Money,” gave his opinion on a few stocks during his show yesterday. CNBC reported that he recommended cybersecurity company Palo Alto Networks as a strong buy.

The Context: Palo Alto’s stock has been through a rollercoaster ride in 2024. In March, the stock was overly punished, according to Cramer, but he saw an opportunity in it. The stock has since seen a significant recovery.

And Then: Cramer shared his thoughts on other companies as well, including Canopy Growth, Illumina, Bank of America, Dynatrace, and BrightSpring Health Services.

Click here to read more.

PRESENTED BY ATLAS LITHIUM

Atlas Lithium (NASDAQ: ATLX) Announces Appointment Of Seasoned Lithium Expert Brian Talbot As Chief Operating Officer

Atlas Lithium (NASDAQ: ATLX) is strategically positioning itself in Brazil's lithium valley and hopes to meet the rising demand for high-quality lithium resources. With a focus on sustainable mining, the company has appointed industry expert Brian Talbot as the Chief Operating Officer to enhance its operational capabilities. Talbot's impressive track record in the lithium sector, combined with his successful tenure at Sigma Lithium Corporation and Galaxy Resources, is expected to drive early revenue strategy and strengthen Atlas Lithium's position in the market. 

This move underscores the company's commitment to attracting top talent to lead its development and exploration teams. Alongside a diverse and experienced leadership team, Atlas Lithium is poised to emerge as a significant supplier in the global lithium market, projected to reach $230.4 billion by 2031, amidst the increasing demand for lithium in electric vehicles and renewable energy storage systems.

Click here to read more!