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LCID

META

NVDA

SMH

TSLA

Benzinga's weekly review highlights significant movements and sentiments in the stock and cryptocurrency markets, with a focus on Nvidia, Tesla, Meta, and the broader semiconductor sector. Inflation concerns and Federal Reserve's interest rate decisions have created market uncertainty. A DEA rumor boosted cannabis stocks, while significant investments in AI and robotics, along with Elon Musk's comments on Dogecoin, influenced investor sentiment. Disputes and criticisms involving Lucid, Meta, and cryptocurrency valuations also shaped the week's bearish outlooks.

Portfolio Pulse from Michael Cohen

March 16, 2024 | 1:24 pm

TSLA

Tesla Inc (NASDAQ:TSLA) settled a racial discrimination lawsuit with former employee Owen Diaz, who worked at Tesla's Fremont factory in 2015. The lawsuit, which initially awarded Diaz $137 million, was settled for $3.2 million in April 2023. The settlement occurs amidst criticism of Tesla CEO Elon Musk for handling hate speech on his social media platform X and accusations of antisemitism.

Portfolio Pulse from Anan Ashraf

March 16, 2024 | 10:02 am

AAPL

Apple Inc. (NASDAQ:AAPL) has been denied a motion to dismiss a lawsuit alleging that its AirTag devices are being used by stalkers to track victims. The lawsuit, filed by around three dozen individuals, claims that Apple was aware of the risks associated with AirTags. U.S. District Judge Vince Chhabria ruled that it's too early to determine if Apple should be held legally responsible under California law for the misuse of AirTags. Some claims were dismissed, but three claims related to the AirTag's safety features leading to injuries were allowed to proceed.

Portfolio Pulse from Ananya Gairola

March 16, 2024 | 8:17 am

TSLA

Elon Musk responded to reports of Don Lemon's extravagant demands for hosting a show on X (formerly Twitter) with sharp criticism. Demands included a Tesla Cybertruck, $5M cash, an equity stake in X, and more. Despite initial agreement, Musk found Lemon's interview performance dull and dismissed him. Lemon plans to post the interview on YouTube and X, despite the fallout.

Portfolio Pulse from Rounak Jain

March 16, 2024 | 5:11 am

TSLA

An Indiana jury found Tesla (NASDAQ:TSLA) and its employee liable for a 2017 crash involving a Ford truck, ordering them to pay over $42 million in damages. The verdict adds to Tesla's current legal and financial challenges, including a lawsuit over CEO Musk's pay package. Despite these issues, analysts like RBC Capital Markets' Tom Narayan remain optimistic about Tesla's future, particularly with the anticipated launch of an affordable car priced below $30,000.

Portfolio Pulse from Anan Ashraf

March 16, 2024 | 4:14 am

ADBE

GOOG

GOOGL

Elon Musk expressed concerns about 'woke AI' like Alphabet Inc.'s Google Gemini and Adobe Inc.'s Firefly, suggesting such AI could potentially harm humans to achieve diversity goals. Musk's comments highlight ongoing debates about AI's role in enforcing diversity and the risks of unregulated AI development.

Portfolio Pulse from Rounak Jain

March 16, 2024 | 2:51 am

AMD

CCL

MSFT

NVDA

RCL

Inflation reports ahead of the Fed meeting showed unexpected price pressures, affecting markets and investor sentiment. Crypto and AI stocks like NVIDIA, AMD, and Microsoft saw declines, while commodities like gold and oil advanced. The uncertainty around Federal Reserve's interest rate decisions and diverging expert opinions add to the market's volatility. Meanwhile, optimism in the cruise sector is seen with bullish outlooks on Royal Caribbean and Carnival Corp. Concerns over potential insider trading arose from a congressman's sale of Boeing stock. The advancement of a bill targeting TikTok raises debates and concerns among influencers and figures like Elon Musk. Cannabis stocks surged on speculation of DEA's rescheduling of cannabis to Schedule III.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 8:39 pm

AMT

EQIX

RMAX

The National Association of Realtors (NAR) has agreed to a $418 million settlement over allegations of inflating real estate commissions. This settlement, which also includes regulatory changes, is expected to lower costs for consumers by addressing the traditionally high commission rates of 5 to 6 percent. Industry-related stocks like American Tower Cor (AMT), Equinix Inc (EQIX), and RE/MAX Holdings Inc. (RMAX) saw a decline following the news. The settlement is pending federal court approval and is set to be implemented by July.

Portfolio Pulse from Michael Cohen

March 15, 2024 | 8:29 pm

EIS

Israel and Hamas are moving closer to a ceasefire agreement, with Israel planning to send a delegation to Qatar after Hamas made concessions. Despite this, Israel is preparing for a military offensive in Rafah, Gaza. The U.S. is focusing on humanitarian efforts, including a project to build a pier in Gaza for aid delivery. Hamas demands the release of over 1,000 prisoners in exchange for 40 hostages. Skepticism remains due to some of Hamas' unrealistic positions, but the international community is closely watching the negotiations. The iShares MSCI Israel ETF (EIS) fell by 1.4% for the second consecutive day.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 8:27 pm

SOND

Sonder Holdings Inc. (NASDAQ:SOND) announced a delay in its Q4 and FY23 financial results due to accounting errors related to the valuation and impairment of operating lease right of use assets for fiscal years 2022 and 2023. These errors, which are non-cash in nature, will not affect the company's cash balances or cash flow statements but are expected to increase its net loss and loss per share for the impacted periods. Sonder intends to file its restated financial statements as soon as possible.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 8:13 pm