- Ring The Bell
- Posts
- 😤 Try, Try Again
😤 Try, Try Again
$DJT officially hits the market... for a second time. Plus, why Krispy Kreme were hotter than an oven.
Brooks Dyroff
March 26, 2024
Happy Tuesday, Zingers! “If at first you don’t succeed, try, try again.” That’s word to William Hickson, Aaliyah, and, I assume, Donald Trump’s family crest.
No, that’s not (just) a knock at the one-time president and three-time presidential candidate’s political fortunes. Trump’s Truth Social officially merged with $DWAC and began trading under the ticker $DJT today. Last time Trump had a company on the public markets, it traded under the same ticker — and went bankrupt in 2004, wiping out shareholders.
But hey! Dust yourself off and try again.
Today’s Price Action:
$SPY: -18.%
$QQQ: -.32%
$DIA: -.03%
Also, learn how to outperform the overall market through algorithmic trading through today’s partner.
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
Briefly: The U.S. Department of Justice unsealed an indictment Tuesday against prominent crypto exchange KuCoin and two of its founders, Chun Gan and Ke Tang.
What Happened: The Justice Department alleges KuCoin conspired to operate as an unlicensed money transmitter and violated the Bank Secrecy Act by failing to enact proper anti-money laundering controls.
What Else: The indictment accuses KuCoin of failing to deploy necessary anti-money laundering and know-your-customer (KYC) protocols. AML rules prevent platforms from being used for illicit activities such as money laundering and terrorist financing, the Justice Department said.
Why It Matters: KuCoin and its founders engaged in a concerted effort to bypass U.S. anti-money laundering laws, allowing the platform to grow significantly by catering to a large U.S. customer base without adhering to required regulatory standards, the DOJ said in a press release.
Discover the fascinating world of Exchange-Traded Funds (ETFs) and unlock the future of finance! Join us as industry experts and thought leaders unveil the secrets of this dynamic market. Fast-track your understanding and stay ahead in the game!
Date: Thursday, March 28, 2024
Time: 11 AM – 12 PM ET
FIVE MOVERS
Canopy Growth shares continued to trade higher today after Germany agreed to legalize cannabis last week.
Krispy Kreme shares were hot and oven-fresh today after the company announced a new partnership with McDonald’s.
Apple stock continued to slide in today’s session amid weaker iPhone sales in China and a DOJ antitrust suit.
DraftKings stock moved higher today following bullish coverage from an analyst at Mizuho.
Carvana shares edged higher in today’s session amid increasing interest in meme stocks, as well as a price target raise from an analyst at Evercore.
ONE TRADE IDEA FOR TOMORROW
Briefly: Micron shares traded higher today after Mizuho reiterated a Buy rating and raised its price target from $124 to $130.
So Basically: Driven by accelerated AI adoption, analyst Vijay Rakesh projects the high bandwidth memory (HBM) market growing at a three-year 2023-2026 CAGR of ~65% to reach $17.5 billion by calendar 2026.
So What? Micron sees its HBM and TSV capacity ramps in line to achieve a target of ~25% share in 2025.
What Next: Rakesh noted Micron has HBM prices in fiscal 2024 locked with early 2025 pricing commitments, but supply tightness could drive the upside. For Micron, Rakesh continued to see sustained traction at NVIDIA, but also others ramping AI accelerators, including Advanced Micro Devices, or AMD.
Discover the fascinating world of Exchange-Traded Funds (ETFs) and unlock the future of finance! Join us as industry experts and thought leaders unveil the secrets of this dynamic market. Fast-track your understanding and stay ahead in the game!
Date: Thursday, March 28, 2024
Time: 11 AM – 12 PM ET