Happy Monday, Zingernation! America may be more divided than ever. But there is one thing we can all agree on. Paying higher prices at the gas pump straight up sucks. Now, with tensions escalating in the Middle East, gas prices are poised to get worse before they get better. Maybe we can all reunite around a common enemy: $4 gallons.

In the meantime, no matter how high prices get, it won’t stop me from working on my draw. That’s right, back in the old days, these quick hands might have been taking down Ol’ Wildfire Willy in a duel at high noon. But now the only place left to show off my skills is at the pump.

Last week, I hit it right on the dot at $30.00, and proceeded to sprint into the store to celebrate. None of the customers or cashiers seemed to care. In fact, they were looking just about everywhere except at me. So much for glory.

Today’s Price Action:

$SPY: -1.25%
$QQQ: -1.63%
$DIA: -.67%

Also, want to capitalize on the boom of the smart home industry? If so, check out today’s partner, Ryse.

And, did someone forward you this email? Click here to subscribe to this Benzinga newsletter and more.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Tesla Slides 4% Amid Plans For Layoffs, Pre-Earnings Jitters

Briefly: Tesla witnessed a 4% decline in its stock this afternoon, trading on the heels of layoff news.

So Basically: In an internal memo, CEO Elon Musk said the EV leader would lay off “more than 10%” of its global workforce, leading to investor unease.

So Then: Despite a positive outlook in major index futures, Tesla’s premarket trading also reflected a significant downtrend, highlighting market concerns.

So What? This sentiment is compounded by expectations of underwhelming quarterly results following Tesla’s first-quarter delivery miss. Tesla’s recent decision to slash the subscription price for its full self-driving software to $99 per month has also added to the uncertainty.

What Next: With Tesla’s first quarter 2024 earnings report just eight days away, investors brace for potential volatility.

Click here to read more.

PRESENTED BY RYSE

Missed Out On Ring And Nest? Don’t Let RYSE Slip Away!

Ring 一 Acquired by Amazon for $1.2B
Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to

Secure your stake before the offer closes.

Click here to read more!

FIVE MOVERS

NVIDIA stock fell nearly 3% in today’s session despite a reiterated price target above $1,000 from Piper Sandler. Here’s what’s going on.

Bank of America shares closed slightly higher in an overall red day, ahead of the company’s earnings report due tomorrow morning.

Netflix shares closed lower today by around 3% amid a sell-off in the overall tech market and ahead of the streaming giant’s report due on Thursday.

Macatawa Bank shares soared higher today, closing higher by more than 40% on news of an acquisition by Wintrust.

Truth Social’s stock plummeted today, closing down more than 10% after announcing plans for an offering, diluting current shares.

ONE TRADE IDEA FOR TOMORROW

Cheers to Growth: Constellation Brands Gets Upgrade, Analyst Bullish on Beer Sales

Briefly: Argus Research analyst John Staszak upgraded the shares of Constellation Brands, owner of Modelo’s U.S. business, from Hold to Buy with a price target of $306.

So Basically: In its latest earnings, Constellation's comparable sales rose 7% to $2.14 billion and topped the consensus estimate of $2.10 billion. The higher sales reflected an approximately 11% increase in beer revenue to more than $1.70 billion, said the analyst.

So Then: The analyst raised the FY25 EPS estimate to $14.20 from $13.90 and set an FY26 estimate of $15.30 per share following the company's upbeat outlook.

So What? Staszak noted persistent risks, ranging from concentrated ownership to relatively high debt, and rated the financial strength of Constellation as Medium. However, the analyst believes the current multiple inadequately reflects strong beer sales, dividend hikes and cost-cutting.

Click here to read more.

PRESENTED BY RYSE

Missed Out On Ring And Nest? Don’t Let RYSE Slip Away!

Ring 一 Acquired by Amazon for $1.2B
Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to

Secure your stake before the offer closes.

Click here to read more!