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The Market Clubhouse Morning Memo for May 8th, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula considering price, volume, and options flow. The memo outlines potential price movements for these assets, advising traders to monitor for breakouts or reversals. Additionally, the memo highlights key economic events and Federal Reserve officials' speeches that could impact market volatility. Market Clubhouse, led by pro trader RIPS, offers exclusive insights and real-time trading mentorship to its members.

Portfolio Pulse from RIPS

May 08, 2024 | 3:02 pm

CRWD

Financial analysts have observed a bullish trend in options trading for CrowdStrike Holdings (NASDAQ:CRWD), with 63% of trades being bullish. The trading range for CRWD's options is between $165.0 and $410.0. The company, a leader in cloud-based cybersecurity, is currently trading at $316.87, up 1.38%, with an RSI suggesting it may be approaching overbought territory. Analysts from Cantor Fitzgerald and Keybanc have set price targets at $400 and $376, respectively, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:01 pm

SVCO

Silvaco Group, Inc (NASDAQ:SVCO) is set to IPO on May 09, offering shares between $17.00 and $19.00 with a 180-day insider lock-up period ending on November 05, 2024. The company specializes in TCAD, EDA software, and SIP solutions for the semiconductor and photonics industries.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:00 pm

MSFT

A study by Microsoft Corp. (NASDAQ:MSFT) and LinkedIn shows a significant adoption of AI in the workplace, with 75% of employees using AI tools. Despite the high usage, over half of the respondents fear job replacement, leading to hesitancy in admitting to using AI for critical tasks. The demand for AI skills has surged, with a 323% increase in technical AI talent demand over eight years. However, a gap in AI training by employers is evident, with only 39% of AI-using employees receiving training. The study highlights the ongoing debate about AI's impact on jobs, with contrasting views from industry leaders.

Portfolio Pulse from Rounak Jain

May 08, 2024 | 2:30 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares dropped after announcing the opening of a new HYLA high-pressure modular refueling station in Southern California and reporting a decrease in first-quarter sales from $10.7 million a year ago to $7.5 million. The company also delayed the delivery timeline for its reworked battery trucks to the end of 2024. Despite these challenges, Nikola maintains a dominant market share of HVIP vouchers for Class 8 FCEVs.

Portfolio Pulse from Nabaparna Bhattacharya

May 08, 2024 | 2:11 pm

IBM

SAP

IBM and SAP SE have announced an expansion of their collaboration to include new generative AI capabilities and industry-specific cloud solutions aimed at enhancing client productivity and innovation. This partnership, known as the Value Generation initiative, is designed to help clients optimize business outcomes, accelerate innovation, and gain competitive advantage by becoming next-generation enterprises.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 2:04 pm

TSM

TSM shares are trading higher after a report surfaced about the company's plans to increase its N3E process capacity.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:57 pm

BTCUSD

ETHUSD

USDTUSD

A report by 10x Research labels Ethereum (ETH) as the underperformer of this cycle in the cryptocurrency market, citing its slow adaptation to market demands and technological advancements. Despite its strong historical correlation with Bitcoin (BTC), Ethereum's market dominance has declined, and it faces challenges such as regulatory uncertainties in the U.S., a decrease in transaction demand indicated by falling ETH Gas fees, and losing ground in the stablecoin arena to Tron. The report predicts a bearish outlook for Ethereum, impacting its valuation and adoption.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 1:52 pm

ATHM

AVEE

CQQQ

Autohome Inc (NYSE:ATHM) reported first-quarter FY24 revenues of $222.9 million, surpassing consensus estimates. The company saw growth in leads generation and online marketplace revenues, with adjusted net income rising to $68.4 million. Autohome's user base also grew, with daily active users increasing by 8.1% year-over-year. The company's focus on data products and new energy vehicle brands contributed to its revenue growth. ATHM shares rose by 3.99% to $28.09. Exposure to ATHM can be gained through Invesco China Technology ETF (NYSE:CQQQ) and American Century ETF Trust Avantis Emerging Markets Small Cap Equity ETF (NYSE:AVEE).

Portfolio Pulse from Lekha Gupta

May 08, 2024 | 1:51 pm

CAT

CME

PLTR

TSLA

Jim Cramer expressed mixed feelings about several companies on CNBC's 'Mad Money Lightning Round'. He is uncertain about Tesla due to a temporary shutdown in Grünheide and a decline in China-made vehicle sales. Cramer likes Caterpillar despite a slight revenue miss but appreciates its earnings beat. He is hesitant about C3.ai due to financial losses and prefers to avoid it. Cramer is positive about Palantir following a strong revenue report and aligns with analyst expectations on earnings. He also recommends CME Group after it reported better-than-expected earnings and sales.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 1:42 pm