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In an era dominated by accelerated compute workloads, such as artificial intelligence (AI), the demand for robust networking and optical infrastructure has never been higher.

The OFC Networking conference in San Diego this week unveiled insights into the trajectory of this demand, setting the stage for significant growth in CY24 and CY25.

According to Harlan Sur, an analyst at JPMorgan, the landscape for semiconductor companies catering to networking and optical sectors presents promising opportunities.

“Bottom line, the AI-driven networking/optical demand outlook remains strong through next year,” Sur wrote in a research note.

Sur’s investment thesis highlights the pivotal role of three key players: Broadcom Inc (NASDAQ:AVGO), Marvell Technology Inc (NASDAQ:MRVL), and MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI).

Also Read: Reddit Is Selling Your Thoughts To Artificial Intelligence Firms: Should You Care?

• Broadcom: Sur notes that Broadcom stands to benefit substantially from the expansion of high-performance networking required to support AI and accelerated compute workloads. With their AI networking revenues projected to increase significantly this year, Broadcom’s innovations in co-packaged optics (CPO) and next-gen switching chipsets position them at the forefront of the industry.

• Marvell: Sur emphasizes Marvell’s dominance in PAM4 DSP chipsets, critical for enabling higher optical connectivity in data centers. Marvell’s collaborations with tech giants like Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) aka Google, Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), and Microsoft Corp (NASDAQ:MSFT), underscore their pivotal role in driving the transition to advanced networking architectures. The impending 1.6T upgrade cycle further solidifies Marvell’s position as a key player in the semiconductor market.

• MACOM: Sur highlights MACOM’s comprehensive portfolio of high-performance analog and photonic components, essential for supporting next-generation networking architectures. MACOM’s focus on innovation, particularly in linear drive pluggable optics (LPO) and copper transceiver architectures, positions them as a reliable partner for customers navigating the evolving connectivity landscape.

The outlook for AI-driven networking and optical demand remains robust, with Broadcom, Marvell, and MACOM poised to capitalize on the opportunities presented by this burgeoning market.

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The dream of turning a small investment into a fortune is a powerful lure in the crypto industry.

But for one trader, that dream turned into a nightmare in a mere 35 minutes as he incurred a staggering loss of $138,000 trying to “snipe” a newly launched coin.

Sniping Gone Wrong

“Sniping” refers to the practice of buying a cryptocurrency immediately after it starts trading on an exchange, hoping to capitalize on a quick price surge.

However, this strategy can be extremely risky, as demonstrated by the unfortunate trader. See below.

If you don’t know how to snipe a coin, buying immediately after it opens trading is very dangerous!

This guy lost 721 $SOL($138K) in just 35 mins!

He withdrew 1,535 $SOL from #Binance before $PUNDU opened trading.

But until 2 minutes after the trading opened, he bought $PUNDU… pic.twitter.com/vx1Lsmx42d

— Lookonchain (@lookonchain) March 26, 2024

A Costly Miscalculation

According to Lookonchain, the trader withdrew 1,535 Solana (CRYPTO: SOL) tokens, worth roughly $138,000, from Binance in anticipation of a new coin, PUNDU, launching on the exchange.

The trader then used 1,485 SOL, presumably almost their entire holding, to buy PUNDU shortly after trading began.

Also Read: Justice Department Accuses Crypto Exchange KuCoin Of $5B Money Laundering Scheme

However, the price of PUNDU quickly dropped due to “sniper selling.”

This refers to experienced traders who buy a new coin listing with the sole intention of immediately selling it at a profit, often leading to a rapid price decline.

Panicked by the price drop, the trader sold all their PUNDU holdings but only managed to recover 764 SOL, resulting in a staggering loss of 721 SOL, or approximately $138,000.

The tale of this trader’s misfortune arrives at a critical juncture in the digital asset industry, as participants from across the spectrum are increasingly seeking knowledge and strategies to navigate the market’s complexities safely.

The upcoming Benzinga’s Future of Digital Assets conference, scheduled for Nov. 19, presents an opportune moment for both seasoned traders and newcomers to gain insights into effective trading practices, risk management, and the evolving landscape of digital currencies.

Read Next: Bitcoin Spot ETFs Stop Losing Streak: Is $100K Back On The Table?

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A J.D. Power report released on Monday revealed a widening satisfaction gap between electric vehicle (EV) and gas-powered vehicle owners regarding tires. This gap stems from EV owners experiencing faster tire wear despite having similar expectations for tire life.

The report highlights that EV tires wear out faster due to greater vehicle weight and higher torque. However, EV owners are often unaware of these performance differences.

“Because of the inherent conflict of maximizing vehicle range and optimizing tire wear for EVs, tire manufacturers, and automakers need to work together to overcome the challenge without completely sacrificing tire performance in other areas, especially as the EV market continues to increase,” said Ashley Edgar, senior director of benchmarking and alternative mobility at J.D. Power.

Michelin & Falken Lead In Tire Customer Satisfaction

The study, based on responses from 31,414 owners of 2022 and 2023 model-year vehicles, ranked Michelin (OTC:MGDDF) the highest in tire customer satisfaction for luxury, passenger car, and performance sports segments. Falken secured the top spot in the truck/utility segment. Notably, Michelin is the only tire company to perform above the segment average in the performance sports vehicle category.

Proactive Players

Goodyear (NASDAQ:GT) has been a leading force in the EV tire market. In 2022, they launched the ElectricDrive tire and expanded their ultra-high-performance tire offerings for EVs. These tires boast a 60,000-mile warranty, increased load capacity, and noise-reduction technology. Notably, the ElectricDrive tires now fit a wider range of EVs, including the Nissan Leaf, Kia Niro, and Chevrolet Bolt/Volt.

Even earlier, in 2021, Tesla released a software update to inform drivers about low or uneven tire treads and recommend tire rotations.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo via Shutterstock

Baltimore was rocked by tragedy early Tuesday as the Francis Scott Key Bridge collapsed after a cargo ship, operated by Synergy Group and chartered by Danish shipping giant AP Moller Maersk (OTC:AMKBY), lost power and struck a support column. This catastrophic event led to multiple vehicles plunging into the river below, sparking a desperate search for survivors.

Effect Of Collision: As rescue efforts unfolded, it was reported by several media outlets that two persons working on the bridge had been rescued, while tragically, six others were presumed dead by their employer.

Vital Link: The Key Bridge, a vital thoroughfare facilitating the passage of over 30,000 vehicles daily, stands as a critical artery in the region’s transportation network. 

Constructed between 1972 and 1977 for $60.3 million, the bridge primarily comprises lightweight concrete, as outlined in a November 2021 report by the U.S. Federal Highway Administration, Vox reported.

The incident’s repercussions extend beyond Baltimore, affecting global trade amidst existing challenges in the shipping industry such as record-breaking droughts in Panama to Houthi strikes on ships in the Red Sea.

See Also: Best Supply Chain Related Stocks

Who Bears The Costs? The insurance sector anticipates significant liabilities, as per the Financial Times, with insurers expected to cover extensive losses, including bridge damage, port disruptions, and potential loss of life. The focus reportedly centers on protection and indemnity insurance, with Britannia P&I Club, among others, facing scrutiny in navigating this complex situation.

Initial estimates suggest potential insurance payouts could rival the approximately $1.5 billion disbursed after the 2012 Costa Concordia cruise ship crash, as per a marine insurance expert quoted by FT.

President Joe Biden expressed his commitment to federal support for the bridge’s reconstruction, pledging the government’s full backing. “It is my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect the Congress to support my effort,” he said in remarks from the White House. “To the people of Baltimore, I want to say, we’re with you. We’re going to stay with you as long as it takes.”

Flexport CEO Ryan Petersen, whose company has two containers on the ship, underscored the intricate legal nuances surrounding liability in a social media post. Contrary to his initial assumptions, he said cargo owners may only be responsible for damages to the vessel and cargo, with the ship operator and their P&I insurance carrier assuming broader financial obligations.

This morning I tweeted that the cargo owners would have to pay for the damages to the bridge under the principle of maritime law known as general average. I was wrong. It appears they will only have to pay for the damage to the vessel and the cargo, split pro rata based on how…

— Ryan Petersen (@typesfast) March 26, 2024

Read Next: Xi Jinping Meets American CEOs In Effort to Mend China-US Business Ties

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

A 2023 survey conducted by Kiva Confections, in partnership with Propeller Insights, has shed light on the effectiveness of cannabis, particularly cannabinoids like CBN, in addressing sleep issues, offering new hope for those seeking alternatives to traditional sleep aids.

The State Of Sleep In America

The survey gathered responses from over 400 adults across the United States in January 2023 and found that a significant portion of the population struggles with sleep, regardless of age, gender, or location. Alarmingly, 42% of participants reported experiencing sleep problems every night, with 60% getting less than the recommended seven hours.

Cannabis And CBN: A Sleep Solution?

One of the survey’s most striking findings is that 76.5% of those using cannabis with CBN reported not only an easier time falling and staying asleep but also an improvement in the overall quality of their sleep. This discovery supports the growing belief in the potential of CBN-infused edibles as an effective remedy for sleep issues.

Comparing Sleep Aids

The survey also explored the effectiveness of other sleep aids, revealing that nearly half of the respondents turned to melatonin. However, many found it only “sort of effective” and complained of grogginess the next day. In contrast, cannabis (THC) was reported as practical or very practical by over 70% of users, indicating a higher satisfaction rate compared to melatonin.

The Future Of Cannabis For Wellness

Kristi Palmer, co-founder of Kiva Confections and upcoming speaker at the Benzinga Cannabis Capital Conference, emphasized to Benzinga the need for more clinical studies to validate the effectiveness of cannabinoids in wellness.

“We see more like clinical studies or like data that actually shows that these types of cannabinoids are working and are delivering their desired effect,” Palmer said, highlighting the importance of research in advancing the use of cannabis as a wellness tool.

The Benzinga Cannabis Capital Conference is returning to Florida in a new venue in Hollywood on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn, and grow.

Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars — this conference is the go-to event of the year for the cannabis world. Get your tickets now on bzcannabis.com – Prices will increase very soon!

Now Read: Exclusive Cash-Back Rewards Await In Jane Gold’s Cannabis Consumer Program

Image generated using artificial intelligence with Midjourney.

After a week of investor jitters, Bitcoin spot ETFs saw a significant reversal of fortune.

What Happened: Bitcoin spot ETFs recorded a net inflow of $15.7 million on Monday, March 25.

This positive shift comes on the heels of five consecutive days of net outflows. According to data from SoSoValue, the turnaround was driven primarily by Fidelity’s Wise Origin Bitcoin ETF (BATS:FBTC).

The ETF raked in a staggering $261 million in net inflows.

BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) also contributed positively, recording a net inflow of $35.48 million.

This surge in investor appetite stands in stark contrast to the sizeable net outflow of $350 million witnessed by Grayscale’s Bitcoin Trust (OTC:GBTC).

This development coincides with growing optimism surrounding Bitcoin’s future.

According to insights from QCP research, Bitcoin (CRYPTO: BTC) has surged past the $70,000 threshold, fueled by the news that the London Stock Exchange intends to commence trading Exchange-Traded Notes (ETNs) for Bitcoin and Ethereum starting May.

Also Read: EXCLUSIVE – Coinbase UK CEO Pinpoints Bitcoin’s Rise, Calls Coin A Viable Alternative For Millions In Benzinga Interview

This development underscores the surging demand for Bitcoin spot ETFs among wealth management clients.

Furthermore, asset managers are increasingly incorporating cryptocurrency into their portfolios as a diversification strategy, amid anticipations of the cryptocurrency’s value potentially reaching the elusive $100,000 mark.

Bitcoin’s ascent is bolstered by a robust demand for structured products, such as Accumulators and Fixed Coupon Notes. It indicates a broadening and deepening of the market’s infrastructure and investor base.

What’s Next: Amid these evolving market dynamics, the upcoming Benzinga’s Future of Digital Assets conference, scheduled for Nov. 19, emerges as a pivotal congregation for industry stakeholders.

This event promises to delve into the intricacies of digital asset investments. It offers attendees a comprehensive understanding of the latest trends, investment strategies, and the future outlook of cryptocurrencies.

Read Next: Bitcoin Believer From 2018 Nails It: Is He Right About $150,000?

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GameStop Corp (NYSE:GME) shares are in the spotlight Tuesday ahead of earnings. Here’s what you need to know.

What To Know: GameStop is set to report fourth-quarter financial results after the market close on Tuesday. The video game retailer is expected to report earnings of 29 cents per share on quarterly revenue of $2.05 billion, according to estimates from Benzinga Pro.

In the fourth quarter of 2022, GameStop delivered a big earnings surprise when it turned in positive EPS of 16 cents versus estimates for a loss of 13 cents. The company also beat top-line estimates.

Last quarter, GameStop reported an earnings loss of 1 cent per share and reported revenue of $1.08 billion, which missed analyst estimates of $1.18 billion. The company said it ended the quarter with $1.21 billion in cash, cash equivalents and marketable securities.

In a regulatory filing released alongside earnings, GameStop said its board approved a new investment policy that would allow CEO Ryan Cohen to manage the company’s security investments.

“The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time,” the company said.

GameStop did not provide conference call details when it announced its fourth-quarter earnings date. It’s likely that a conference call will not take place as the company has refrained from holding a call with analysts and investors for three consecutive quarters.

Check This Out: Meme King Ryan Cohen Now Able To Trade Stocks With GameStop Funds

GME Price Action: GameStop shares raced higher on Monday, closing the day up more than 15%. The stock was roughly flat at the time of writing Tuesday, according to Benzinga Pro.

Photo: JJBers from Flickr.

The most oversold stocks in the communications services sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Sirius XM Holdings Inc. (NASDAQ:SIRI)

• On Feb. 1, Sirius XM Holdings posted better-than-expected fourth-quarter earnings. Guggenheim analyst Curry Baker initiated coverage on Sirius XM Holdings with a Neutral rating and announced a price target of $4 on March 14. The company’s stock fell around 18% over the past month and has a 52-week low of $3.32 .
• RSI Value: 16.95
• SIRI Price Action: Shares of Sirius XM rose 0.3% to close at $3.89 on Monday.

Integral Ad Science Holding Corp. (NASDAQ:IAS)

• On Feb. 27, Integral Ad Science Holding reported upbeat results for its fourth quarter. “We ended 2023 with strong fourth quarter performance across optimization and measurement with revenue growth of 16% and 18%, respectively,” said Lisa Utzschneider, CEO of IAS. “Social media revenue increased 37% in the fourth quarter as marketers trusted IAS to maximize their advertising spend globally, particularly in short-form video. In 2024, we will continue to invest in data science and innovate with AI to empower marketers with actionable data to drive superior results. We expect to deliver double-digit revenue growth for the full year.” The company’s stock fell around 45% over the past month. It has a 52-week low of $9.10.
• RSI Value: 29.41
• IAS Price Action: Shares of Integral Ad Science Holding fell 1.6% to close at $9.34 on Monday.

 

Read More: McCormick, TD SYNNEX And 3 Stocks To Watch Heading Into Tuesday

Video game retailer GameStop corporation (NYSE:GME) is set to report fourth-quarter financial results after market close Tuesday, March 26.

Here’s a look at the earnings estimates, what analysts are saying and key items to watch.

Earnings Estimates: Analysts expect GameStop to report revenue of $2.05 billion in the fourth quarter, according to data from Benzinga Pro.

The company reported revenue of $2.23 billion in last year’s fourth quarter.

GameStop has beaten revenue estimates from analysts in two of the last four quarters, but only two of the last six quarters.

Analysts expect GameStop to report earnings per share of 29 cents for the fourth quarter, compared to a profit of 16 cents per share in the prior year’s fourth quarter.

GameStop reported a loss of 14 cents pre share in the first quarter, a loss of 3 cents per share in the second quarter and breakeven earnings per share in the third quarter. With a report of 29 cents per share in the fourth quarter, GameStop would have profitability for the full fiscal year.

The company has beaten earnings per share estimates from analysts in three of the last four quarters.

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What Analysts Are Saying: There isn’t a lot of coverage by analysts on GameStop stock.

Wedbush analyst Michael Pachter reiterated an Underperform rating and $6 price target in December, which came after the company’s third quarter financial results.

The analyst said GameStop saw weakness in software in the third quarter and had an outperformance in hardware.

Pachter was also critical on a new development from GameStop, which could see a change in how the company uses its cash.

Key Items to Watch: One of the most important details for analysts and investors in the fourth quarter report will be the new development Pachter was critical on previously.

GameStop shared in a filing that it will allow CEO Ryan Cohen to invest the company’s cash. The company said it has traditionally invested its “excess cash” in short-term fixed income securities.

“On December 5, 2023, the Board of Directors approved a new investment policy that permits the Company to invest in equity securities, among other investments,” GameStop said.

The company also stated that Cohen will oversee its investment operations in both public and private sectors, potentially targeting the same companies in which he has personal investments.

Pachter was critical of the announcement and potential.

“GameStop’s Board makes the most inane decision we have ever seen,” Pachter said.

Pachter said GameStop should buy back company stock instead of the new investment strategy. The analyst said that GameStop previously issued 30 million shares at $50 and now thinks the stock is too expensive to buy back at $15.

“The board clearly believes GameStop stock is a lower return investment than other market opportunities. That is the definition of ‘underperform,’ so I’m happy to see that they agree with me,” Pachter tweeted.

Investors will be looking at filings to see if GameStop invested the company cash in any stocks or private companies.

Analysts and investors will also be looking to hear about future growth opportunities. The company ended its NFT platform in recent months and could see continued weakness with a shift to digital sales of video games. Investors will be looking for future catalysts alongside profitability and a strong balance sheet.

The video game retailer has not held a conference call for several quarters and a call with investors and analysts on Tuesday could mark a change of pace.

GME Price Action: GameStop shares are up 12.7% to $14.77 on Monday versus a 52-week trading range of $11.82 to $27.65. Shares of GameStop are down 42% over the last year.

Read Next: GameStop Meme Coin Soars In Value, Gains Interest: How Netflix, Short Squeeze Anniversary Timing Played Out Perfectly

Image generated using artificial intelligence with Midjourney.

The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Howard Hughes Holdings Inc. (NYSE:HHH)

• On Feb. 27, Howard Hughes Holdings posted better-than-expected fourth-quarter earnings. “Howard Hughes produced outstanding results during the fourth quarter which ultimately contributed to record full year financial results in our MPC and Operating Assets segments,” commented David R. O’Reilly, Chief Executive Officer of Howard Hughes. “During a year that was overshadowed by negative headlines and considerable uncertainty for housing and office, the exceptional performance across HHH’s master planned communities highlights the resilience and appeal of the company’s world-class portfolio, as well as the strong demand we continue to see from people and companies seeking an amenity-rich, high-quality lifestyle in a natural setting. The company’s stock fell around 7% over the past month and has a 52-week low of $65.42 .
• RSI Value: 28.84
• HHH Price Action: Shares of Howard Hughes fell 1.5% to close at $71.01 on Friday.

Fathom Holdings Inc. (NASDAQ:FTHM)

• On March 14, Fathom Holdings posted downbeat quarterly results. “Throughout the year we remained focused on our growth strategy and took meaningful steps to better position Fathom for profitable growth in 2024,” said Fathom CEO Marco Fregenal. “While the residential real estate industry remains challenging, we firmly believe that our future remains bright and by continuing to grow our agent base and optimize our cost structure, we are positioning Fathom for continued success as the industry rebounds.” The company’s stock fell around 33% over the past month. It has a 52-week low of $1.74.
• RSI Value: 27.16
• FTHM Price Action: Shares of Fathom Holdings fell 0.5% to close at $1.92 on Friday.

 

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