La vendita allo scoperto per PERSHING SQ HLD LTD REG S by Pershing Square Holdings Ltd. dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di PERSHING SQ HLD LTD REG S by Pershing Square Holdings Ltd.. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

PERSHING SQ HLD LTD REG S by Pershing Square Holdings Ltd. (OTC:PSHZF) Azioni, Report sulle vendite allo scoperto

PERSHING SQ HLD LTD REG S by Pershing Square Holdings Ltd.

WIIM

SNOW

Snowflake shares are trading higher after the company reported better-than-expected Q1 financial results.

HC Wainwright &amp; Co. analyst Robert Burns reiterates BioNTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) with a Buy and maintains $134 price target.

News

Price Target

Reiteration

Analyst Ratings

BNTX

HC Wainwright & Co. Reiterates Buy on BioNTech, Maintains $134 Price Target

Health and Human Services Secretary Robert F. Kennedy Jr. faces mounting pressure from Republican lawmakers and farming communities as his highly anticipated &#8220;Make America Healthy Again&#8221; report approaches Thursday&#8217;s release, with glyphosate pesticide regulations emerging as the primary flashpoint between public health advocates and agricultural interests.
What Happened: The MAHA Commission report, mandated by President Donald Trump within 100 days to analyze childhood disease factors, has sparked preemptive opposition from 79 Republican lawmakers representing farming states, <a href="https://apnews.com/article/rfk-jr-kennedy-farmers-maha-trump-pesticides-5d5a83bde6b88290cf9c3536e74523be">according</a> to AP. Iowa Republican Sen. Chuck Grassley warned Wednesday that farmers have expressed concerns about being excluded from the report&#8217;s input process.
Kennedy addressed Senate Appropriations Committee concerns from Mississippi Republican Sen. Cindy Hyde-Smith, stating &#8220;there&#8217;s not a single word in them that should worry the American farmer&#8221; and promising not to &#8220;jeopardize that business model.&#8221; The commission, established by Trump&#8217;s February executive order, was tasked with examining prescription drugs, chemicals, and food ingredients affecting children.
The report comes alongside a proposed $500 million budget boost for Kennedy&#8217;s MAHA initiative, while simultaneously cutting infectious disease prevention, maternal health, and medical research programs. Kennedy supporters, including 360 MAHA advocates and former campaign staffers, have submitted pesticide studies pressing for chemical industry accountability.
See Also: <a href="https://www.benzinga.com/25/05/45558200/advance-auto-parts-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analysts">Advance Auto Parts Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Why It Matters: The report&#8217;s potential glyphosate restrictions could significantly impact agricultural productivity and food company operations. Kennedy&#8217;s broader MAHA agenda has already influenced restaurant industry practices, with Biglari Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BH#NASDAQ">BH</a>) subsidiary Steak &#8216;n Shake switching from seed oils to beef tallow for French fries, earning Kennedy&#8217;s public praise for <a href="https://www.benzinga.com/general/restaurants/25/03/44280041/rfk-jr-thanks-steak-n-shake-for-rfking-the-french-fries-restaurant-goes-all-in-on-make-america-healthy-again">&#8220;RFKing the French fries.&#8221;</a>
Other restaurant chains, including Sweetgreen Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SG#NYSE">SG</a>), Bloomin&#8217; Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMN#NASDAQ">BLMN</a>)-owned Outback Steakhouse, and Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)-owned Popeyes, have initiated similar transitions. Kennedy has scheduled meetings with food giants PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) and General Mills Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) to <a href="https://www.benzinga.com/markets/equities/25/03/44209953/rfk-jr-takes-on-food-giants-calls-meeting-with-pepsico-and-general-mills">address processed food concerns.</a>
The MAHA initiative&#8217;s budget proposal threatens the <a href="https://www.benzinga.com/personal-finance/25/05/45522362/we-have-no-details-says-food-program-director-as-trumps-maha-boxes-threaten-730000-seniors-grocery-lifeline">$425 million Commodity Supplemental Food Program</a>, potentially affecting 730,000 seniors&#8217; grocery access through replacement &#8220;MAHA boxes.&#8221; Food program directors report logistical challenges and communication gaps, with Connecticut Foodshare experiencing 34 canceled federal shipments affecting over 600 food banks statewide.
The World Health Organization classifies glyphosate as a probable human carcinogen, while farmers argue it remains essential for weed control without excessive soil tilling, creating a regulatory tension between public health priorities and agricultural economics.
Read Also:
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<li><a href="https://www.benzinga.com/markets/equities/25/05/45557944/baidus-apollo-go-enters-dubai-and-abu-dhabi-ceo-robin-li-touts-global-robotaxi-lead-with-1-4-million-rides-in-q1">Baidu&#8217;s Apollo Go Enters Dubai And Abu Dhabi, CEO Robin Li Touts Global Robotaxi Lead With 1.4 Million Rides In Q1</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Health Care

Politics

BLMN

RFK Jr.'s 'Make America Healthy Again' Report Stirs GOP, Farmers Over Glyphosate Concerns Ahead Of Release

Embecta Corp. ("embecta"; "The Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>), a global diabetes care company with a 100-year legacy in insulin delivery, will host its inaugural Analyst and Investor Day today to showcase its phased approach for value creation and present its long range financial plan ("LRP").
"Our Investor Day will provide a comprehensive view of our roadmap for transitioning embecta to growth. We look forward to sharing how we are positioning embecta for long-term success in an evolving healthcare landscape," said Dev Kurdikar, President and Chief Executive Officer. "Today, we reiterate our commitment to maintaining our leadership in insulin injection while outlining our long term vision to transform embecta into a more broad-based medical supplies company, paving the way toward a life unlimited for all."
Strategic Priorities embecta's core insulin injection business has long provided a stable, recurring, and geographically diversified revenue base with an attractive margin profile. Following a successful three-year effort to establish embecta as an independent, standalone organization, the Company is currently focused on three strategic priorities aimed at positioning embecta for sustainable, long-term success:
<ul>
<li>Strengthening the core business, which includes executing a seamless brand transition to ensure embecta's identity resonates globally while maintaining the trust of customers. At the same time, the company is continuing to identify opportunities within its core portfolio that bolster its leadership position in injection devices. &nbsp;</li>
<li>Expanding the Company's product portfolio through the introduction of products that leverage embecta's expertise in high-volume manufacturing and the strength of its global commercial channel. &nbsp;</li>
<li>Increasing financial flexibility by generating cost savings through operational efficiencies and prioritizing debt reduction, thereby enhancing the Company's financial agility and ability to make future investments. &nbsp;</li>
</ul>
Fiscal Year 2025 Financial Guidance embecta today reaffirmed its fiscal year 2025 guidance, originally provided in conjunction with its second quarter of fiscal 2025 financial results announced on May 9, 2025.
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Dollars in millions, except percentages and per share data</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Reported Revenues</td>
<td>$1,073 - $1,090</td>
</tr>
<tr>
<td>Reported Revenue Growth (%)</td>
<td>(4.4)% - (2.9)%</td>
</tr>
<tr>
<td>Impact of F/X (%)</td>
<td>(0.8%)</td>
</tr>
<tr>
<td>Impact of Italian Payback Measure (1) (%)</td>
<td>0.4%</td>
</tr>
<tr>
<td>Adjusted Constant Currency Revenue Growth (%)</td>
<td>(4.0)% - (2.5)%</td>
</tr>
<tr>
<td>Adjusted Gross Margin (%)</td>
<td>62.75% - 63.75%</td>
</tr>
<tr>
<td>Adjusted Operating Margin (%)</td>
<td>29.75% - 30.75%</td>
</tr>
<tr>
<td>Adjusted Earnings per Diluted Share</td>
<td>$2.70 - $2.90</td>
</tr>
<tr>
<td>Adjusted EBITDA Margin (%)</td>
<td>36.25% - 37.25%</td>
</tr>
</tbody>
</table>
</figure>
(1) Reflects the recognition of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015 recorded in Revenues. &nbsp;
Long Range Financial Plan embecta today announced its long range financial plan for fiscal 2025 through fiscal 2028.
Over this period, the Company expects to:
<ul>
<li>Maintain a flattish constant currency revenue CAGR</li>
<li>Achieve an adjusted operating margin of approximately 28% to 30%</li>
<li>Generate approximately $600 million of cumulative free cash flow(1)</li>
<li>Repay between $450 million and $500 million of debt</li>
</ul>

Guidance

EMBC

Embecta Reaffirms 2025 Outlook With Up to $1.09B Revenue, Unveils Long-Term Plan to Cut $500M Debt

Earnings

Earnings Beats

Earnings Misses

CORRECTION: Toronto-Dominion Bank Q2 Adj. EPS $1.37 Beats $1.24 Estimate, Sales $10.54B Miss $10.74B Estimate

Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) affirms FY2025 Adj EPS guidance from $1.50-$2.50 to $1.50-$2.50 vs $1.55 analyst estimate. Affirms FY2025 sales outlook from $8.40 billion-$8.60 billion to $8.40 billion-$8.60 billion vs $8.46 billion estimate.

Advance Auto Parts Affirms FY2025 Adj EPS Guidance of $1.50-$2.50 vs $1.55 Est; Affirms FY2025 Sales Guidance of $8.40B-$8.60B vs $8.46B Est

Needham analyst Joseph Stringer reiterates Vir Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIR#NASDAQ">VIR</a>) with a Buy and maintains $14 price target.

Needham Reiterates Buy on Vir Biotechnology, Maintains $14 Price Target

Chinese autonomous vehicle technology company Pony AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) has been on a hot streak, with the stock rallying 315% over the past month, following a string of positive catalysts in recent weeks.
What Happened: During its <a href="https://in.benzinga.com/news/earnings/25/05/45514486/chinas-pony-ai-robotaxi-revenue-jumps-200-eyes-1000-vehicle-fleet">first quarter earnings</a> call on Tuesday, the company confirmed its partnership with Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) aimed at bringing Pony&#8217;s robotaxi platform to international markets.
&#8220;We recently partnered with Uber, which will enable users to access our robotaxi service directly through Uber&#8217;s platform,&#8221; said CEO James Peng. &#8220;The partnership is expected to first launch in a key market in the Middle East later this year with the goal of scaling deployments to additional international markets in the future.&#8221;
The company is now rapidly expanding outside its home base in China, having secured a Level 4 robotaxi testing permit in Luxembourg and initiated road testing in Seoul's Gangnam District. 
See Also: <a href="https://www.benzinga.com/25/05/45556328/jeff-bezos-shrugged-off-dot-com-hype-in-1999-betting-amazons-future-on-customer-obsession-internet-shminternet-that-doesnt-matter-he-said-theres-never-any-conflict-between-customers-and-shareholders-interests-and-walmart-should-say-the-same">Jeff Bezos At Peak Dot-Com Hype Identified A Winning Strategy That Made Amazon Into A 2 Trillion Success Story Today: &#8216;Internet, Shminternet … That Doesn&#8217;t Matter&#8217;</a>
&#8220;These successes have provided us with valuable experience as we explore future opportunities beyond the China market,&#8221; Peng noted.
During the call, the company highlighted its resilience to tariffs and supply-chain disruptions, citing its &#8220;localized strategy.&#8221; CFO Liu Wang said, &#8220;The majority of our supply chain is domestically sourced,&#8221; adding that they enhanced their &#8220;supply chain resilience in response to the evolving geopolitical landscape.&#8221;
The rally has also been in response to the Pony&#8217;s growing scale, with the company reaffirming its target to grow the Gen7 fleet to 1,000 vehicles by year-end.
&#8220;Given the structural efficiency advantages of the Gen seven robotaxis, we have [a] clear line of sight to breakeven and long-term profitability,&#8221; Peng concluded.
Why It Matters: Recently, fund manager Gary Black, who has been a Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull for over a decade, called Pony a great option to &#8220;play future advances in global autonomy,&#8221; citing its <a href="https://www.benzinga.com/tech/25/05/45345942/gary-black-weighs-in-on-pony-ais-growth-ahead-of-earnings-report-a-recently-announced-partnership-with-uber">partnership with Uber</a> as the key reason behind the shift in sentiment. 
However, Black also cautions that the stock is &#8220;clearly overbought,&#8221; forecasting a correction over the next couple of weeks. 
The stock&#8217;s Relative Strength Index (RSI) is now at 61.32, which is &#8220;Neutral,&#8221; which essentially means that the stock is neither overbought nor oversold, and traders might wait for the RSI to exit this range before considering this stock again.
During its <a href="https://in.benzinga.com/news/earnings/25/05/45514486/chinas-pony-ai-robotaxi-revenue-jumps-200-eyes-1000-vehicle-fleet">first quarter results</a>, the company reported $14 million in revenue, up 11% year-over-year, with robotaxi revenues growing 200%, at $1.7 million, following significant expansion across major Chinese cities. Pony posted a loss of $0.10 per share, compared to a loss of $0.28 per share in the prior year quarter.
Price Action: The stock is down 3.30% on Wednesday, trading at $17.29 per share, and is down 1.62% after hours. This has been a volatile year, with a 315% rally since its low point in April, but it is still only up 13.82% year-to-date.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="800" height="212" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21225050/Screenshot-2025-05-22-at-8.20.42-AM.png" alt="" class="wp-image-923700" style="width:475px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21225050/Screenshot-2025-05-22-at-8.20.42-AM.png 800w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21225050/Screenshot-2025-05-22-at-8.20.42-AM-300x80.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21225050/Screenshot-2025-05-22-at-8.20.42-AM-768x204.png 768w" sizes="(max-width: 800px) 100vw, 800px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, Pony.ai has a favorable price trend in the short, medium, and long terms, but how does it compare with Tesla and Uber? Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> to find deeper insights. 
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</ul>
Photo courtesy: Michael Vi / Shutterstock.com

Travel

Markets

PONY

TSLA

UBER

Pony.ai Stock Is Up 315% In A Month As Uber Deal, Global Robotaxi Rollout, And Tariff Shield Fuel Investor Frenzy, But Can It Keep Up?

Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) reported quarterly losses of $(0.22) per share which beat the analyst consensus estimate of $(0.82) by 73.17 percent. This is a 132.84 percent decrease over earnings of $0.67 per share from the same period last year. The company reported quarterly sales of $2.58 billion which beat the analyst consensus estimate of $2.50 billion by 3.37 percent. This is a 24.16 percent decrease over sales of $3.41 billion the same period last year.

Advance Auto Parts Q1 Adj. EPS $(0.22) Beats $(0.82) Estimate, Sales $2.58B Beat $2.50B Estimate

David Sacks, the&nbsp;top crypto and AI advisor&nbsp;to President Donald Trump, has projected that the impending stablecoin legislation could unlock trillions for the U.S. Treasury.
What Happened:&nbsp;Sacks expressed optimism about the bipartisan support for the stablecoin legislation currently being deliberated in the Senate. He suggested that establishing a legal framework for the already $200 billion worth of unregulated stablecoins could lead to a significant demand for U.S. Treasuries, according to a&nbsp;<a href="https://www.cnbc.com/2025/05/21/trump-crypto-czar-sacks-stablecoin-bill-unlock-trillions-for-treasury.html">CNBC report</a>&nbsp;on Wednesday.
If we provide the legal clarity and legal framework for this, I think we could create trillions of dollars of demand for our Treasuries practically overnight, very quickly,&#8221; stated Sacks.
The GENIUS Act, a bill designed to regulate stablecoins, has passed a crucial&nbsp;procedural vote in the Senate.&nbsp;With support from 15 Democrats, the bill has enough votes to overcome a filibuster. &#8220;We&nbsp;have every expectation now that&nbsp;it&#8217;s going to pass,&#8221; Sacks stated.
Sacks supports the GENIUS Act as a national economic strategy, highlighting stablecoins as a more efficient payment method that strengthens the dollar's online dominance. Meanwhile, the Trump family financially backs World Liberty Financial, which has launched a Treasury- and dollar-backed stablecoin called USD1.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/25/05/45539686/kevin-oleary-warns-trumps-big-beautiful-bill-could-be-devastating-for-small-businesses-somebodys-got-to-r" target="_blank" rel="noreferrer noopener">Kevin O&#8217;Leary Warns Trump&#8217;s &#8216;Big, Beautiful Bill&#8217; Could Be &#8216;Devastating&#8217; For Small Businesses: &#8216;Somebody&#8217;s Got To Raise The Red Flag&#8217;</a>
Why It Matters:&nbsp;Stablecoins, unlike other digital assets such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), have their value tied to real-world assets like the U.S. dollar.&nbsp;In the past year, Stablecoin transactions reached $28 trillion—exceeding the combined volume of Mastercard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) and Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>).
The push for stablecoin legislation has been gaining momentum for some time. In March 2025, President Trump called for stablecoin legislation at the Blockworks Digital Asset Summit, highlighting the potential of stablecoins to enhance the U.S. financial system and maintain the dollar&#8217;s global dominance. This marked his first address at a <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44420122/donald-trump-calls-for-stablecoin-legislation-lauds-bitcoin-reserve-biden-got-a-fraction-of-their-value">crypto conference</a> as a sitting president.
U.S. Sen. Bill Hagerty (R-Tenn.) stated that stablecoin issuers could become the<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45516604/senator-hagerty-says-stablecoin-issuers-may-surpass-foreign-governments-in-us-treasury-holdings"> largest holders</a> of U.S. Treasuries globally by the end of the decade, citing projections from Citibank. He emphasized the role stablecoins play in transforming the payments landscape while underscoring their backing by short-term U.S. government debt.
Despite the optimism, the bill's passage faces hurdles. A contentious amendment from Sen. Josh Hawley (R-Mo.) could alienate banking supporters and potentially delay final approval.
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<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin &#8211; Benzinga</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.

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

Cryptocurrency

$BTC

Trump's Crypto Czar David Sacks Foresees Stablecoin Bill Generating Trillions For US Treasury 'Practically Overnight'

Outlook
For the full year of 2025, the Company currently expects total net revenues to increase by 25% to 30% compared with the full year of 2024.
This outlook is based on current market conditions and the Company's preliminary estimates, which are subject to changes.

ATAT

CORRECTION: Atour Lifestyle Raises FY2025 Sales Guidance from $1.24B to $1.24B-$1.29B Vs. $1.26B Estimate

Needham analyst David Saxon reiterates Cooper Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>) from Hold to Hold.

Needham Reiterates Hold on Cooper Companiesto Hold

As tariffs rattle retailers in the U.S., Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) is showing how years of quiet supply chain maneuvering can pay off.
What Happened: During its first-quarter earnings call on Wednesday, Target highlighted its commitment to keeping entry-level price points intact, even as it braces for widespread tariff-related impact on its margins and supply chain.
&#8220;We have many levers to use in mitigating the impact of tariffs, and price is the very last resort,&#8221; CEO Brian Cornell told investors.
The company&#8217;s efforts are most prominently visible at its Bullseye&#8217;s Playground storefront, where it sells a range of seasonal and trending items, with price points of $1, $3, and $5, which the company plans to hold firm on, despite tariff-related headwinds.
See Also: <a href="https://www.benzinga.com/25/05/45559653/steve-jobs-once-invited-marc-benioff-to-his-office-with-two-ipads-in-2010-the-lesson-that-shaped-a-270-billion-salesforce-empire">Steve Jobs Once Invited Marc Benioff To His Office With 2 iPads In 2010: The Lesson That Shaped A $270 Billion Salesforce Empire</a>
This is the result of years of effort by the company in reducing its reliance on Chinese imports. &#8220;Going back to 2017, we were 60% coming out of China. We brought that down to 30%, and we are well on our way to be less than 25% by the end of next year,&#8221; Chief Commercial Officer Rick Gomez said.
Target is now sourcing across Asia, the Western Hemisphere, and even domestically. &#8220;We're also exploring opportunities here in the U.S.,&#8221; Gomez said, noting the company is working closely with vendors to &#8220;provide the best value that we can for the consumer.&#8221;
Why It Matters: Analysts such as JPMorgan&#8217;s Christopher Horvers have raised concerns regarding the <a href="https://benzinga.com/25/05/45548732/target-under-strain-analyst-cautions-on-inventory-margins-amid-dei-and-tariff-issues">company&#8217;s rising inventory</a>, which rose 11% year-over-year, alongside weak same-store sales, and a miss on gross margin estimates during the first quarter.
This comes as the company&#8217;s chief rival, Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), <a href="https://www.benzinga.com/news/management/25/05/45473067/walmart-prices-will-rise-within-weeks-as-trump-tariffs-drive-up-costs-will-other-retailers-follow-suit">cautioned shoppers last week</a> that they could expect to see a rise in prices towards the end of May.
Price Action: Target shares were down 5.21% on Wednesday, trading at $93.01 per share, and down 0.35% after hours, following the company&#8217;s first quarter earnings results.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="136" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22060221/Screenshot-2025-05-22-at-3.32.10-PM-1024x136.png" alt="" class="wp-image-924109" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22060221/Screenshot-2025-05-22-at-3.32.10-PM-1024x136.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22060221/Screenshot-2025-05-22-at-3.32.10-PM-300x40.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22060221/Screenshot-2025-05-22-at-3.32.10-PM-768x102.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22060221/Screenshot-2025-05-22-at-3.32.10-PM-1536x205.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22060221/Screenshot-2025-05-22-at-3.32.10-PM.png 1592w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Target shares score well on Value and Growth, but are ranked poorly when it comes to Momentum and Quality. The price trend is unfavorable in the short, medium, and long terms. You can find deeper insights on the stock <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>.
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Comstock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LODE#NYSE">LODE</a>) ("Comstock" and the "Company") today announced that its executive chairman and chief executive officer, Corrado De Gasperis, issued the following letter to shareholders announcing major transformative milestones, including the separation of Comstock Fuels.
Dear Shareholders:
On behalf of our Board of Directors, Executive Officers, and the entire Comstock team, thank you for your continued support of our goals and bold strategies for achieving systemic decarbonization, establishing technological leadership in the massive global renewable fuels and renewable metals markets and positioning great value for all of our shareholders.
I am genuinely thrilled to announce the completion of the successful separation of our renewable fuels segment into a new independent entity, Bioleum Corporation ("Bioleum"), and its high-value capitalization, through the closing on the first $20 million in direct Series A equity investment. This investment is the first of $50 million planned this year.
This achievement fulfills the first phase of the plans we outlined earlier this year and positions us with two high-growth companies – one focused on renewable metals and mining here in Nevada, and the other on renewable fuels headquartered in Oklahoma – enabling two extremely different business and capital profiles and providing each the platform to thrive in their own markets. In doing so, we are unleashing unprecedented opportunities for growth and value creation.
Bioleum Separation Completed: A Bold New Chapter
We have officially separated and contributed the assets that formerly comprised Comstock's fuels segment into Bioleum, a newly formed company dedicated to accelerating and maximizing the production and use of lignocellulosic biomass – or Bioleum&#x2122;&nbsp;– derived fuels and attracting the necessary capitalization to do so. Bioleum's formation marks the next chapter in this rapid evolution – one where our renewable fuels platform can accelerate under its own banner with singular focus and clarity with the ultimate objective of also becoming a publicly traded company.
Comstock now owns $65 million of the preferred stock in Bioleum, convertible into 32.5 million common shares, nearly the exact number of total outstanding shares of LODE today. This represents the substantial majority of Bioleum, positioning an exceptional value for our shareholders today and preserving our ability to accelerate the growth of that value and the delivery of that value directly to our shareholders, ultimately through a future public offering and beyond.
This transaction was structured to give Bioleum operational independence, with direct governance from Comstock and the strategic Series A investors, while maintaining and ensuring exceptional alignment with Comstock's interests. Bioleum now has its own dedicated leadership and resources: Kevin Kreisler has been appointed Chief Executive Officer of Bioleum, and – in addition to my continuing role as Executive Chairman and Chief Executive Officer of Comstock, I will also serve as Bioleum's Executive Chairman and Chief Financial Officer to both guide and support the new enterprise. I will be the only professional employed directly by both companies. With an independent board and governance, including representatives of the Series A investors and independent board members of Comstock, Bioleum can effectively and efficiently accelerate its mission and critical financing strategy. We believe that this structure, combined with Comstock's ongoing governance and preferred equity interest, strikes the ideal balance to maximize Bioleum's potential and unlock the full value of its clean energy portfolio for all of our shareholders.
Critically, the separation and its aligned structure, satisfies key conditions of large, sophisticated investors for new investment in Bioleum. Concurrently with the separation, Bioleum has closed an initial $20 million tranche of its Series A preferred stock financing. This infusion of growth capital validates Bioleum's strategy and provides the resources to accelerate its next phase of development. These funds will support Bioleum's continuing development as it completes engineering, financing, and construction of its first planned 400,000 barrel per year commercial demonstration facility in Oklahoma. In short, Bioleum is now equipped, capitalized, and structured to move forward at full speed. This capital also immediately relieves Comstock of a substantial majority of its liquidity and capital resource demands and constraints.
Bioleum's Path to Full Commercialization
The initial objectives are clear. Bioleum will continue to focus on securing all approvals and agreements, including with top-tier Engineering, Procurement and Construction ("EPC") and other strategic relationships while engineering is completed to construct its flagship 400,000 barrel per year refinery in Oklahoma. This first facility will deliver over $30 million in annual operating income once up and running, showcasing its commercial viability. Bioleum has already advanced site selection and engineering, and is working on project-level financing, permitting, regulatory approvals, and all other site agreements, fueled by the Series A capital.
Bioleum's proprietary refining platform can convert underutilized woody biomass into a low-carbon, direct substitute for gasoline, diesel, and sustainable aviation fuel, effectively transforming waste biomass into high-value fuels with a carbon intensity as low as 15. In essence, we have uncovered a new kind of "oil well" – one that never runs dry because it is fed by renewable resources. As we often say, imagine an oil well that never stops producing – that is what Bioleum delivers. With market-leading yields of up to 140 gallons of fuel per ton of feedstock (on a gasoline gallon equivalent basis) and a platform designed to scale 10x beyond the first facility, Bioleum is poised to enlist major oil companies in accelerating and maximizing the production and use of Bioleum derived fuels.
Comstock Metals: Strength in Sustainable Innovation
While Bioleum separates, our Metals business will continue to grow stronger than ever. We are proud to report that Comstock Metals revenues are growing rapidly and achieving the highest levels of industry recognition. Recently, Comstock Metals became the first company in North America to earn the stringent R2v3 and RIOS certifications for zero-waste solar panel recycling. This groundbreaking certification validates that our recycling facility and processes meet the highest global standards for safety, environmental stewardship, and total waste elimination. In fact, under the R2v3/RIOS standard (including the specialized Appendix G), we demonstrated a 100% landfill-free recycling process – every component of an end-of-life solar panel (glass, aluminum, semiconductor fines, and other metals) is fully reclaimed and repurposed into new raw materials. Nothing goes to waste. This achievement is an extraordinary testament to our team's innovation and diligence. It proves that our proprietary thermal recycling technology can deliver commodity-grade outputs from solar trash, with all parts of the panel fully recycled into valuable products.
Importantly, this certification also provides assurance to our customers, partners, and regulators that Comstock Metals' operations meet the absolute highest bar for responsible recycling, without any reliance on government incentives. We have essentially built a new kind of mine above ground – one that harvests critical metals from retired solar panels instead of digging ore from the earth. As I've described before, it's like a "world-class silver mine using solar panel waste as ore" that never depletes and just keeps on producing. With this validation in hand, Comstock Metals is aggressively scaling up its services to meet surging demand. We have been ramping up our recycling throughput (a fourfold increase year-over-year in Q1) and expanding our partnerships, including world-class customers and a master services agreement with RWE Clean Energy all while maintaining our zero-landfill promise. We are securing expanded and new permits and are preparing to expand to industry-scale operations at our Nevada facility to process dramatically larger volumes of photovoltaic waste. In short, Comstock Metals is now a proven leader in sustainable metal recycling, with a robust pipeline of business and technology that positions us for exponential growth. We could not be prouder of our teams.
Strategic Rationale: Capital Efficiency, Risk Management, and Value Creation
I want to clearly articulate our thinking behind separating the Bioleum and Comstock entities at this time. This transaction was driven by opportunity – and by necessity. Both our Fuels and Metals businesses have matured to a point where they can attract significant investment and growth on their own. However, they each have very different capital needs, risk profiles, and operational focuses. By separating them, we enable each company to pursue tailored funding and growth strategies with maximum efficiency. Bioleum can now raise capital (such as the Series A financing) directly into its projects and technology, without competing with or being bottlenecked by Comstock's other needs. At the same time, Comstock Metals can seek its own strategic partnerships and financing faster and more efficiently (for new industry scale recycling facilities, for example) without having to dilute or divert resources to the Fuels business. This clear management, capital and growth focus in each company means more efficient use of funds and faster development cycles for both.
Separation also improves risk management. Renewable fuels and recyclable metals are adjacent in our mission, but they are fundamentally different businesses. Each business faces unique technical and market risks. By structurally isolating them, we ensure that challenges in one domain will not hinder the progress of the other. Investors and partners can now engage with a pure-play renewable metals producer or a pure-play renewable fuels developer, without ambiguity. This clarity reduces the perceived risk for stakeholders and allows each company to be evaluated on its own merits. Moreover, it grants each management team the autonomy to focus exclusively on its core mission – whether that is scaling up recycling operations or building biorefineries – thus sharpening execution and accountability.
Finally, and most importantly, this separation is about unlocking the full value and impact of the businesses we have built. We firmly believe that the combined value of Comstock and Bioleum as separate entities will exponentially exceed what might have been reflected as a single conglomerate. The market can now properly value our Metals business as the first mover in zero-waste solar recycling, and value Bioleum as a high-growth renewable fuels innovator, without one overshadowing the other. Early evidence of this value creation is clear: the separation and Bioleum's financing were completed at an implied valuation that significantly uplifts the recognized value of our Fuels segment. Comstock retains a substantial majority equity position in Bioleum, so our shareholders keep substantial upside in Bioleum's future success, while better protecting against downside risks and gaining all the benefits of a more focused parent company. We expect that as Bioleum reaches its milestones and as Comstock Metals rapidly expands, the sum-of-parts value to our shareholders will deliver dramatic and exponential returns.
Moving Forward
I want to emphasize the confidence I have in our bold path forward. We have spent the last four years investing in new technologies, overcoming challenges, and relentlessly driving toward commercialization of two revolutionary platforms. That effort has now culminated in a historic achievement: we launched Bioleum as an independent company and fortified Comstock Metals as a standalone powerhouse. We are now operating with a sharpened focus in each business. Our vision of enabling energy independence and a circular, decarbonized economy is not just alive – it's accelerating.
Comstock emerges from this separation as a more streamlined enterprise laser-focused on renewable metals, with a healthy balance sheet and a stake in one of the most promising renewable fuel ventures in the world. Bioleum, for its part, is charging ahead to reinvent how we produce fuels, armed with world-class technology, a passionate team of industry veterans, and the funding to realize its plans. Together, though operating separately, Comstock and Bioleum are advancing complementary missions that address two of the world's most pressing needs: clean energy and resource sustainability. We are leading – setting new standards, forging new partnerships, and capturing new markets.
I have never been more confident in our strategy or more excited looking to the future. We will continue executing with the same determination and ingenuity that brought us to this point. We look forward to creating extraordinary value together as we drive a true revolution in renewable fuels and sustainable materials.
Key Highlights
<ul>
<li>Completed Separation of Comstock Fuels into Bioleum – Successfully separated our renewable fuels business into Bioleum Corporation, an independent entity, satisfying all conditions for the capital needs of the business. Comstock retains a substantial majority in Bioleum to participate in its tremendous growth potential.</li>
<li>Comstock's Stake – $65M Preferred Equity – Comstock received $65 million in preferred equity in Bioleum, convertible into 32.5 million common shares, representing a well-protected and substantial majority ownership of Bioleum. This ensures Comstock shareholders benefit from Bioleum's future success.</li>
<li>Bioleum Funded and Positioned for IPO – Bioleum closed an initial $20 million Series A financing concurrent with the separation. Proceeds will fund critical growth milestones. Bioleum plans an IPO upon completing the construction of its first 400,000 barrel per year refinery and meeting key commercialization milestones.</li>
<li>Comstock Metals' Extraordinary First Mover Advantage – Comstock Metals recycling business is thriving. Comstock Metals achieved the first R2v3/RIOS certification in North America for 100% zero-waste solar panel recycling, validating our world-class, zero-landfill process. Comstock Metals is scaling up with new permits, major customers, and expanding revenues, fulfilling the vision of a "solar waste silver mine" that never depletes.</li>
<li>Strategic Benefits of Separation – The separation enhances capital efficiency (each company can raise and allocate capital optimally), improves risk management (distinct businesses are insulated from each other's risks), and unlocks value (investors can properly value each pure-play business, driving greater aggregate shareholder value). We expect this separation to accelerate growth and maximize shareholder returns for both companies. &nbsp;</li>
</ul>
I appreciate everyone's dedication and support in helping us get to this launching point. I am very much looking forward to discussing these achievements, our remarkable progress, and next steps with you during our 2025 Annual Meeting.
Kindest regards,&nbsp;
Corrado De Gasperis Executive Chairman and Chief Executive Officer Comstock Inc.&nbsp;

LODE

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