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DraftKings

DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in about 25 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.

DraftKings Inc

<ul>
<li>Spinocerebellar Ataxia (SCA) is a rare, genetic, life-threatening neurodegenerative disease with no available treatment.</li>
<li>Troriluzole has been granted Fast-Track, Orphan Drug Designation (ODD) and Priority Review from the FDA.</li>
<li>Troriluzole would be the first and only FDA-approved treatment for SCA, if approved.</li>
</ul>
 &nbsp;

News

BHVN

Reported Earlier, Biohaven's Troriluzole NDA For Rare Disease SCA Receives Three-Month PDUFA Extension For Full FDA Review

HIVE

Reported Earlier, HIVE Digital Technologies Announces Upsized $119.2M ATM Program Under Amended Equity Distribution Agreement

CHACU

Reported Earlier, Crane Harbor Acquisition Corp. Sets May 19 For Separation Of IPO Units Into Class A Shares And Rights

The Company intends to use the net proceeds from the offering of the Notes for general corporate purposes, which may include repayment of indebtedness, including, without limitation, repayment of the Company's floating rate term loan A maturing in December 2025 and a portion of its outstanding fleet debt, and to pay fees and expenses in connection with the foregoing.

Reported Earlier, Avis Budget Group Prices $600M 8.375% Senior Notes Due 2032, Upsizing Offering By $100M

With U.S. stock futures trading lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to report quarterly earnings at $1.37 per share on revenue of $33.21 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Alibaba shares rose 0.7% to $135.04 in after-hours trading.</li>
<li>Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) posted stronger-than-expected results for its third quarter and raised its fiscal 2025 guidance. The company also announced that CFO Scott Herren will retire, effective July 26. Cisco shares gained 2.8% to $63.00 in the after-hours trading session.</li>
<li>Analysts are expecting Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) to post quarterly earnings at $5.58 per share on revenue of $10.79 billion. The company will release earnings before the markets open. Deere shares fell 0.3% to $496.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>Boot Barn Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) posted downbeat earnings for its fourth quarter, but issued first-quarter guidance with its midpoint above estimates. The company also announced a $200 million share repurchase program. Boot Barn shares surged 18% to $156.78 in the after-hours trading session.</li>
<li>Analysts expect Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) to report quarterly earnings at 58 cents per share on revenue of $165.88 billion before the opening bell. Walmart shares rose 0.6% to $97.40 in after-hours trading.</li>
</ul>
Check This Out: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45405004/jim-cramer-sofi-goes-to-new-highs-recommends-not-buying-this-health-care-stock">Jim Cramer: SoFi Goes To &#8216;New Highs,&#8217; Recommends Not Buying This Health Care Stock</a> </li>
</ul>
Photo via Shutterstock

Equities

Markets

BABA

BOOT

CSCO

Walmart, Cisco And 3 Stocks To Watch Heading Into Thursday

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled mixed on Wednesday, with the S&amp;P 500 recording gains for the third straight session driven by renewed investor appetite for risk following a breakthrough in early-week U.S.-China trade negotiations. Week to date, the S&amp;P 500 gained over 4%, while the Dow added around 2%. The Nasdaq has added over 6% during the period.
Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) climbed more than 4% on Wednesday, while Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) added 4.7%.
On the economic data front, U.S. mortgage application volumes increased by 1.1% from the previous week in the week ending May 9, following an 11% surge in the prior period.
Most sectors on the S&amp;P 500 closed on a negative note, with health care, materials and real estate stocks recording biggest losses on Wednesday. However, information technology and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 89 points to 42,051.06 on Wednesday. The S&amp;P 500 gained 0.10% to 5,892.58, while the Nasdaq Composite jumped 0.72% at 19,146.81 during Wednesday's session.
Investors are awaiting earnings results from Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) today.
At a current reading of 70.4, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 69.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45405004/jim-cramer-sofi-goes-to-new-highs-recommends-not-buying-this-health-care-stock">Jim Cramer: SoFi Goes To &#8216;New Highs,&#8217; Recommends Not Buying This Health Care Stock</a> </li>
</ul>
Photo via Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

NVDA

S&P 500 Gains For Third Session As Tech Stocks Soar: Investor Sentiment Improves Further, Fear Index Remains In 'Greed' Zone

<ul>
<li>Paving the way for a new industrial future</li>
<li>The new facility is a joint venture between PIF and Hyundai Motor Company</li>
<li>The plant will manufacture internal combustion engine and electric vehicles, with an annual production target of 50,000 vehicles to supply Saudi Arabia</li>
</ul>

HYMTF

Reported Earlier, PIF-Hyundai Joint Venture Launches Saudi Arabia's First Hyundai Plant To Produce ICE And EVs By Q4 2026

Legendary actor Robert De Niro has once again voiced his disapproval of President Donald Trump, encouraging the Hollywood industry to resist his influence and not yield to his wrath.
What Happened:  De Niro, a vocal critic of the President, used his platform to denounce Trump, labeling him as a &#8220;philistine&#8221;. He expressed his worries about the strain big businesses are under due to Trump&#8217;s influence and the consequential decisions they are forced to make, reported <a href="https://www.france24.com/en/live-news/20250514-de-niro-says-hollywood-worried-about-wrath-of-trump">France24</a>, citing AFP. He added that Hollywood worries about bearing &#8220;the wrath of Trump.&#8221;
Upon being honored with an honorary Palme d&#8217;Or or Lifetime Achievement for his contribution to cinema at the 78th Cannes Film Festival on Tuesday, the &#8220;Taxi Driver&#8221; star criticized the President&#8217;s intention to impose 100% tariffs on films produced abroad.
De Niro lauded&nbsp;U.S. universities and legal firms&nbsp;that have stood up against attempts by Trump&#8217;s administration to intimidate them. He highlighted the significance of this resistance, as it motivates others to retaliate.
De Niro concluded his speech with a plea for action, encouraging individuals to voice their opinions, take risks and not allow the bully to triumph.
&#8220;You just can&#8217;t let the bully win&#8230;&#8221; said De Niro. 
SEE ALSO: <a href="https://benzinga.com/25/05/45427077/bitcoin-flat-ethereum-dogecoin-slip-analytics-firm-highlights-resurgence-in-btc-retail-interest-but-a-brief-pullback-might-be-close-by" target="_blank" rel="noreferrer noopener">Bitcoin Flat, Ethereum, Dogecoin Slip: Analyst Firm Sees &#8216;Significant Recovery&#8217; In Retail Interest But A Pullback Might Be Imminent </a>
Why It Matters: De Niro&#8217;s remarks come after <a href="https://www.benzinga.com/personal-finance/25/05/45335277/trump-calls-hollywoods-decline-a-national-security-threat-orders-a-100-tariff-on-foreign-films">Trump&#8217;s announcement</a> to introduce a 100% tariff on foreign films, which he declared on Truth Social, labeling Hollywood&#8217;s decline as a &#8216;National Security Threat&#8217;.
The decision was sparked by a <a href="https://www.benzinga.com/25/05/45214594/hollywood-tariff-push-sparked-by-trump-jon-voight-meeting-where-actor-proposed-levies-in-certain-limited-circumstances">meeting </a>with actor Jon Voight, who proposed the levies. However, the White House later clarified that they are &#8216;exploring all options&#8217; and ‘no final decisions' regarding a tariff on foreign movies have been made. 
Economist Peter Schiff&nbsp;<a href="https://www.benzinga.com/general/education/25/05/45187710/peter-schiff-says-trumps-100-tariff-on-foreign-films-pointless-without-targeting-streamingwarns-netflix-subscribers-would-bear-cost">criticized the move</a>, warning that Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) subscribers would ultimately bear the cost. This is not the first time De Niro has criticized Trump. In 2024, he compared Trump to Hitler, which led to&nbsp;Tesla CEO Elon Musk <a href="https://benzinga.com/news/24/05/38635067/elon-musk-says-robert-de-niro-is-so-out-of-touch-its-insane-after-legendary-actor-compares-trump-to">calling </a>him &#8216;out of touch&#8217;.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NFLX

Robert De Niro Slams Trump As A 'Philistine,' Urges Hollywood To Resist 'The Wrath' Of The President: 'You Just Can't Let The Bully Win'

Reported Earlier, Waystar Prices Public Offering Of 12.5M Shares At $38.75 Each; Selling Stockholders Include EQT, Bain Capital, And CPP Investments

Despite the falling gold prices after the stock market rebound, the gold mining companies are poised for growth as this expert highlights &#8220;record levels of free cash flow&#8221; for these companies over the next two years.
What Happened: The Macro Strategist at Crescat Capital, Otavio Costa, has underscored the data for the two-year forward free cash flow estimate for gold mining companies, highlighting the possibility of strong fundamental growth.
According to a chart shared by him, the free cash flow estimates of these companies surpass the expectation of the gold price level by the Philadelphia Gold &amp; Silver Exchange by 2027.
&#8220;Despite the recent pullback in gold, mining companies remain positioned to deliver record levels of free cash flow in the current environment,&#8221; he said in an X post.
This comes as the Gold Spot US Dollar fell 1.02% to hover around $3,145.09 per ounce during the publication of this piece. It was much lower than its recent record high of $3,500.33 per ounce.
&#8220;I've always found it compelling when prices of an asset decline even as fundamentals improve,&#8221; said Costa, adding that &#8220;Investors are gradually beginning to grasp the magnitude of what's unfolding, but in my view, we've already entered the Golden Age of Mining.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I've always found it compelling when prices of an asset decline even as fundamentals improve. Despite the recent pullback in gold, mining companies remain positioned to deliver record levels of free cash flow in the current environment. Investors are gradually beginning to… <a href="https://t.co/F6RGYWu9vu">pic.twitter.com/F6RGYWu9vu</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1922836052143657281?ref_src=twsrc%5Etfw">May 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of ‘Compound Interest'</a>
Why It Matters: Here&#8217;s a list of some gold mining stocks that investors could consider as experts peg a possibility of higher cash flows in the future.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Harmony Gold Mining Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>)</td>
<td>66.75%</td>
<td>50.59%</td>
</tr>
<tr>
<td>Perpetua Resources Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#NASDAQ">PPTA</a>)</td>
<td>4.16%</td>
<td>104.44%</td>
</tr>
<tr>
<td>Eldorado Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGO#NYSE">EGO</a>)</td>
<td>10.90%</td>
<td>16.00%</td>
</tr>
<tr>
<td>Sandstorm Gold Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAND#NYSE">SAND</a>)</td>
<td>40.98%</td>
<td>41.23%</td>
</tr>
<tr>
<td>Iamgold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>)</td>
<td>9.68%</td>
<td>36.61%</td>
</tr>
<tr>
<td>Skeena Resources Ltd. (TSE: SKE)</td>
<td>14.77%</td>
<td>120.11%</td>
</tr>
<tr>
<td>Kinross Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>)</td>
<td>36.54%</td>
<td>71.85%</td>
</tr>
<tr>
<td>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td>
<td>26.82%</td>
<td>12.66%</td>
</tr>
<tr>
<td>Royal Gold Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>)</td>
<td>23.11%</td>
<td>26.94%</td>
</tr>
<tr>
<td>Anglogold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>)</td>
<td>63.80%</td>
<td>60.64%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45403100/bullish-for-nvidia-tesla-palantir-microsoft-alphabet-amazon-ai-revolution-is-coming-to-the-saudi-kingdom-says-wedbushs-dan-ives">&#8216;Bullish For Nvidia, Tesla, Palantir, Microsoft, Alphabet, Amazon:&#8217; AI &#8216;Revolution Is Coming&#8217; To The Saudi Kingdom, Says Wedbush&#8217;s Dan Ives</a></li>
</ul>
Image Via Shutterstock

Analyst Color

Macro Notification

Market Summary

Broad U.S. Equity ETFs

Futures

Commodities

Analyst Ratings

ETFs

General

PPTA

RGLD

SAND

Gold Miners Poised For Boom As Analyst Predicts 'Record Levels Of Free Cash Flow' Despite Price Dip: 'Golden Age Of Mining'

Reported Earlier, Agnico Eagle To Invest C$90M In Foran Mining Through Private Placement Of 30M Shares At C$3.00 Each

Reported Earlier, Savers Value Village Prices Secondary Offering Of 15M Shares At $9.25/Share; Company To Repurchase $20M In Concurrent Buyback

LOAR

Reported Earlier, Loar Holdings Prices 9M Share Secondary Public Offering At $83.41/share; No Proceeds To Company

MESO

Reported Earlier, Mesoblast Secures 7-Year FDA Orphan-Drug Exclusivity For Ryoncil In Steroid-Refractory Pediatric Graft Versus Host Disease

Warren Buffett says Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) waited too long to hand the wheel to Greg Abel, calling his longtime lieutenant "a natural" and admitting it would have been "unfair" to deny him the top job any longer.
What Happened: Buffett, 94, <a href="https://www.wsj.com/business/warren-buffett-reveals-he-stepped-down-after-finally-feeling-his-age-b060251f">told</a> The Wall Street Journal that he will step down as chief executive in December, ending a six-decade run that turned his investing vehicle into a $900 billion conglomerate. Abel, 62, will move up from vice chairman, where he already supervises the company's non-insurance giants spanning railroads, utilities and manufacturing.
Buffett, 94, told The Wall Street Journal that he will step down as chief executive in December, ending a six-decade run that turned his investing vehicle into a $900 billion conglomerate. Abel, 62, will move up from vice chairman, where he already supervises the company's non-insurance giants spanning railroads, utilities and manufacturing.
"He's a natural," Buffett said.
See also: <a href="https://www.benzinga.com/25/05/45237968/5-facts-you-might-not-know-about-warren-buffett-successor-greg-abel">5 Facts You Might Not Know About Warren Buffett&#8217;s Successor Greg Abel</a>
Buffett conceded that aging finally caught him. "I didn't really start getting old … until I was about 90," he said, noting balance issues and fading eyesight. "The difference in energy level and just how much he (Greg Abel) could accomplish in a 10-hour day compared to what I could accomplish… the difference became more and more dramatic," Buffett said.
Buffett heaped more praise on Abel, saying he&#8217;s a lot like him in the way he doesn&#8217;t get fearful when &#8220;there's a panic in the market&#8221;. "He will have ideas about where money should be invested," Buffett said.
Why It Matters: At Berkshire's May 3 annual meeting, Buffett <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">told shareholders</a> "the time has arrived where Greg should become the chief executive of the company at year end," cementing the long-telegraphed hand-off to Abel. Meanwhile, in an interview, Berkshire Hathaway board lead director Sue Decker's has said that Abel is "much <a href="https://www.benzinga.com/markets/25/05/45183000/warren-buffetts-right-hand-man-greg-abel-is-quietly-taking-over-day-to-day-leadership-at-berkshire-hathaway-gotten-much-more-involved-in-capital-allocation-decisions">more involved</a> in capital-allocation decisions," proof the transition is already happening behind the curtain.
Buffett has been equally blunt about rumors he's hoarding Berkshire's record $348 billion cash pile to give his <a href="https://www.benzinga.com/markets/25/05/45184366/buffett-dismisses-rumors-of-stockpiling-cash-for-successor-greg-abel-i-wouldnt-do-anything-nearly-so-noble-just-so-greg-could-look-good">heir an easy victory</a>, joking, "I wouldn't do anything nearly so noble as to withhold investing myself just so Greg could look good." He added that he's still prepared to deploy "$20 billion, or even $100 billion" whenever opportunity knocks, pointing to the fact that the CEO switch won't clip his own investing wings.
Benzinga Edge Stock Rankings gives Berkshire Hathaway&#8217;s Class-A shares a momentum score of 82.06% and a strong growth score of 91.38%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Check to see how BRK&#8217;s Class-B shares compare</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="801" height="105" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15033511/Screenshot-2025-05-15-at-16.31.26.png" alt="" class="wp-image-916087" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15033511/Screenshot-2025-05-15-at-16.31.26.png 801w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15033511/Screenshot-2025-05-15-at-16.31.26-300x39.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15033511/Screenshot-2025-05-15-at-16.31.26-768x101.png 768w" sizes="(max-width: 801px) 100vw, 801px" /></a></figure>
Photo Courtesy: Rob Crandall on Shutterstock.com
Read next: <a href="https://www.benzinga.com/25/05/45429100/youtubes-gemini-ai-tool-knows-when-youre-most-hookedand-thats-when-the-ad-hits">YouTube&#8217;s Gemini AI Tool Knows When You&#8217;re Most Hooked — And That&#8217;s When The Ads Hit</a>

Management

Warren Buffett Explains Why He Couldn't Deny Greg Abel The Top Job At Berkshire Hathaway Any Longer: 'He's A Natural'

An Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) holder said he secured a place at the upcoming exclusive dinner with President&nbsp;Donald Trump for a mere $1,200, according to a report on Wednesday.
What Happened: Cryptocurrency enthusiast Morten Christensen and his group were among the top 220 holders of Trump&#8217;s memecoin, according to a <a href="https://trumpdinner.gettrumpmemes.com/leaderboard">leaderboard </a>tracking the cryptocurrency&#8217;s biggest buyers over the last three weeks. The dinner, scheduled for next week, required at least $54,500 in time-weighted holdings to secure a spot, Fortune <a href="https://fortune.com/2025/05/14/trump-memecoin-dinner-crypto-national-gold-club/">said </a>in a report.
However, Christensen and his friends managed to attend the event&nbsp;for just about $1,200 each.&nbsp;Their strategy involved buying the Trump memecoin and shorting the exact same amount, resulting in a market-neutral position. This basically meant that they spent only on trading fees. 
They sold their Trump tokens and closed their short positions immediately after the dinner&#8217;s winners were announced on Monday. A post on Christensen&#8217;s X account showed a snippet of the mail invitation he received from the memecoin team.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Made it to the <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> dinner, now the hard part, convincing my wife to let me go <a href="https://t.co/qff5nF0SGe">pic.twitter.com/qff5nF0SGe</a>
&mdash; Morten &#x23f3; (@Mortpoker) <a href="https://twitter.com/Mortpoker/status/1922007277835260171?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/22/11/29640123/just-in-crypto-com-suspends-these-withdrawals-deposits-on-solana-chain" target="_blank" rel="noreferrer noopener">Crypto.com Suspends These Withdrawals, Deposits On Solana Chain</a>
Christensen stated that they originally ignored the gala dinner notice, believing it would be very competitive. However, they later developed a software program to monitor leaderboard changes and predict the holdings amount needed to secure a top 220 placement.
Benzinga reached out to Christensen for additional information, and the story will be updated if he responds.
Why It Matters: The Trump memecoin dinner has been a topic of significant controversy, with critics arguing that it allows wealthy and possibly foreign actors to buy access to the former president. 
Last month, Democratic lawmaker Sen.&nbsp;Jon Ossoff&nbsp;(D-Ga.) <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45027557/trumps-memecoin-dinner-event-sparks-impeachment-call-from-democratic-senator-says-potus-is-selling-access-to-those-who-enrich-him">called for Trump&#8217;s impeachment</a>, while Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.)&nbsp;requested an investigation into his potential violation of federal ethics regulations.
The dinner&#8217;s guest list, revealed earlier this week, <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367052/trump-memecoin-exclusive-dinner-guest-list-revealed-with-justin-sun-shining-at-the-top-report">included wallets linked to foreign entities</a>. Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder Justin Sun is speculated to be the biggest holder, with investments worth over $17 million.
Price Action: At the time of writing, TRUMP was exchanging hands at $12.81, down 6.21 in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Since its peak, the meme coin has plunged 82%.
Photo Courtesy: Kirill Aleksandrovich On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-they-pay" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Is &#8216;Letting Cartel Members&#8217; Into The US, Asks How Much &#8216;Memecoin&#8217; Did They Pay &#8211; Benzinga</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$TRUMP

$TRX

Crypto Enthusiasts Reportedly Secure Spot At Trump's Meme Coin Dinner For A Mere $1,200: Here's How They Did It

KVYO

Reported Earlier, Klaviyo Announces $34 Pricing Of 10,969,078 Series A Shares Offered By CEO Andrew Bialecki

The security of publicly traded U.S. solar companies is in focus as Chinese communication devices were found in critical renewable energy infrastructure, particularly power inverters.
What Happened: These devices, discovered during security checks of equipment, bypass typical firewall protections despite remote access capabilities being standard for updates and maintenance, reported Reuters.
Communication devices have been found in the batteries of several Chinese suppliers over the last nine months, as per the report.
The U.S. Department of Energy said that while these features and functionality &#8220;may not have malicious intent, it is critical for those procuring to have a full understanding of the capabilities of the products received.&#8221;
Some U.S.-based solar companies that could be in focus by the presence of undocumented devices in their supply include the following.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>)</td>
<td>0.81%</td>
<td>-6.31%</td>
</tr>
<tr>
<td>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</td>
<td>3.49%</td>
<td>0.55%</td>
</tr>
<tr>
<td>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>)</td>
<td>24.39%</td>
<td>5.05%</td>
</tr>
<tr>
<td>CMS Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>)</td>
<td>3.40%</td>
<td>9.21%</td>
</tr>
<tr>
<td>Primoris Services Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRIM#NYSE">PRIM</a>)</td>
<td>-0.08%</td>
<td>49.85%</td>
</tr>
<tr>
<td>WEC Energy Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>)</td>
<td>8.78%</td>
<td>20.24%</td>
</tr>
<tr>
<td>Duke Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>)</td>
<td>4.30%</td>
<td>8.81%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/25/05/45404821/dollar-correction-imminent-sans-tariffs-to-reduce-the-us-trade-deficit-says-peter-schiff-minor-decline-would-make-trade-deficit-larger">Peter Schiff Warns Only Major Dollar Decline Or High Tariffs Can Cut US Trade Deficit — But Inflation And Rates Will Soar</a>
Why It Matters: Citing national security concerns, two U.S. Senators introduced the Decoupling from Foreign Adversarial Battery Dependence Act in February 2025. This action prohibited the Department of Homeland Security from procuring batteries from some Chinese entities, effective October 2027.
The six Chinese companies targeted included Contemporary Amperex Technology Company, BYD Company, Envision Energy, EVE Energy Company, Hithium Energy Storage Technology Company, and Gotion High-tech Company.
Meanwhile, Huawei exited the U.S. market in 2019, but it remains a dominant supplier worldwide.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Thursday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading lower.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>
Image Via Shutterstock

Government

Regulations

FSLR

PRIM

DOE Warns Of Hidden Risks As Chinese Devices In Power Inverters Sparks National Security Concerns: 7 Stocks That Could Be In Focus

PGHL

Reported Earlier, Primega Group Holdings To Change Nasdaq Ticker Symbol From PGHL To ZDAI Effective May 16, 202

IPOs

RTAC

RTACU

Reported Earlier, Renatus Tactical Acquisition Corp I Announces Pricing of 21M Units At $10.00 Each In $210M Initial Public Offering

Press Releases

DraftKings Announces Jason Robins' Participation in Upcoming Event

Entertainment

Arizona Winner Sets New Jackpocket Record, Wins $112 Million Mega Millions Jackpot From Ticket Ordered Using Jackpocket App

DraftKings to Release Fourth Quarter and Full Year 2024 Results on February 13, 2025 and Host Conference Call on February 14, 2025

DraftKings Reports Fourth Quarter and Fiscal Year 2024 Results

DraftKings Announces Launch of $500 Million Term Loan B Facility

Financing

DraftKings Announces Close of $600 Million Upsized Term Loan B Facility

DraftKings Renews State Council Funding Program and Expands Responsible Gaming Initiatives

DraftKings to Release First Quarter 2025 Results on May 8, 2025 and Host Conference Call on May 9, 2025

Sports

DraftKings Reports First Quarter Revenue of $1,409 Million

DKNG

Accel Entertainment

PlayAGS

Ballys

Boyd Gaming

Codere Online Luxembourg, S.A. - Ordinary Shares

Codere Online Luxembourg

Churchill Downs, Incorporated - Common Stock

Churchill Downs

Canterbury Park Holding Corporation - Common Stock

Canterbury Park Holding

Caesars Entertainment, Inc. - Common Stock

Caesars Entertainment

Everi Holdings

Full House Resorts

Golden Entertainment, Inc. - Common Stock

Golden Entertainment

Genius Sports

International Game Technology Ordinary Shares

Intl Game Tech

Inspired Entertainment, Inc. - Common Stock

Inspired Entertainment

Light & Wonder

Las Vegas Sands

Monarch Casino & Resort, Inc. - Common Stock

Monarch Casino & Resort

MGM Resorts International

Melco Resorts & Entertainment Limited - American Depositary Shares

Melco Resorts and Enter

Studio City International Holdings Limited American depositary shares, each representing four Class A ordinary shares

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