You're receiving this email because you're subscribed to Ring the Bell from Benzinga. To manage your subscription, click the link at the bottom of this email.

Happy Tuesday Zingernation! In classic Mr. Miyagi / Karate Kid fashion, the student has become the master. 45 years ago, Bill Gates hired Steve Ballmer as the 30th employee of Microsoft. And now Ballmer has officially passed Gates in terms of net worth, with Ballmer becoming the 6th-richest person in the world.

—Aaron Bry & Nic Chahine

Plus, want to capitalize on the growing lithium mining industry? Take a look at today’s partner.

MARKET SNAPSHOT

Yesterday: Tesla and other mega-cap tech stocks like Apple helped drag the S&P 500 and Nasdaq Composite higher, inching back toward all-time highs.

On Our Radar: J Pow time! Powell will take the podium at a conference in Portugal this morning, and we will also get job openings. Later in the week, we will get more labor data that should give investors a gauge on how the economy is holding up.

TOP STORY

Tesla Deliveries Fall For Second Straight Quarter, But Stock Takes Off As Q2 Numbers Exceed Expectations

Briefly: Electric vehicle maker Tesla, Inc. TSLA reported Tuesday ahead of the market open second-quarter deliveries that came in ahead of the consensus estimate. The stock is reacting to the report with a move to the upside.

Breaking Down Numbers: Texas-based Tesla reported second-quarter deliveries that declined from a year ago, although improving from the first quarter.

So: Analysts and forecasters revised their estimates in recent weeks, given the ongoing slowdown in the EV market. Tesla forecaster Troy Teslike issued a final delivery and production forecast of 423,000 and 416,823 units, respectively. Wedbush analyst Daniel Ives predicted a likely in-line number, pinning his hopes on a mini end-of-the-quarter rebound in China, one of Tesla’s key markets. Here’s why Tesla’s stock is taking off despite the dip in deliveries.

PRESENTED BY ATLAS LITHIUM

Atlas Lithium Expands Lithium Exploration Footprint In Brazil Amid Global Demand Surge

Atlas Lithium Corporation (NASDAQ: ATLX) is expanding its lithium exploration footprint in Brazil, more than doubling its mineral rights to 53,942 hectares. The company is advancing towards lithium concentrate production at its Neves Project, set to begin in Q4 2024, with a goal of producing 150,000 tonnes per annum initially and doubling this capacity by 2025. Atlas Lithium's exploration efforts in the Valadares and Coronel Murta projects have identified several promising spodumene-bearing pegmatites. Leveraging advanced geological techniques and strategic expansions, Atlas Lithium is well-positioned to meet the growing global demand for lithium.

Learn more about Atlas Lithium's innovative projects and strategic vision here.

FIVE ZINGERS

Not Just Tesla: Rivian’s also traded higher in Tuesday’s pre-market session as the EV company reported strong delivery numbers and reaffirmed targets.

Three’s A Crowd: Crowdstrike shares traded lower this morning following a downgrade from an analyst at Piper Sandler.

What Do You Meme?: GameStop, $DJT and other meme stocks look set to open lower this morning. Here’s why.

Fly Like A Bird: Moderna’s stock rose slightly this morning after securing a new government contract for the company’s bird-flu vaccine.

Stacking Chips: The U.S. is putting even more money behind semiconductor and chip production. Here’s what you need to know.

ONE FOR THE ROAD

Lawsuit Against Keith Gill Voluntarily Dismissed

Briefly: GameStop Corp shares are traded slightly higher after-hours Monday after the class-action lawsuit against Keith Gill, also known as Roaring Kitty, was voluntarily dismissed by the plaintiff.

The Details: According to a court filing, the plaintiff, Martin Radev, filed to voluntarily dismiss the case alleging Gill manipulated GameStop’s stock price without prejudice to the defendant.

So: GameStop shares ended Monday's session down by more than 5% after Gill disclosed a 6.6% passive stake in Chewy, Inc. through a 13G filing. Gill owns 9,001,000 Chewy shares worth roughly $300 million at the current price. Check out the full story here.

PRESENTED BY BENZINGA

Turning $1k Into $3,700 In Just 4 Days With Benzinga Pro

This wasn’t a lucky guess. Benzinga Pro delivers exclusive news, lightning-fast alerts, and crystal-clear analysis that empower you to spot breakout stocks before they rally. Save 50% when you sign up today.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Cannabis Daily: A must-read daily briefing for cannabis investors, operators, and enthusiasts. Join our list of industry veterans to jump start your morning. Subscribe here.

Real Estate Weekly: Where we highlight the movers and the losers, the upgrades and the downgrades, the top stories and opportunities in the trillion dollar REIT and real asset industry. Subscribe here.

Mining Weekly: Get an insider's edge with news, analysis, and commentary on what’s shaping the mining and commodities industry that powers the global economy. Subscribe here.