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Good Morning!
Happy Friday! Have a great weekend:
👉OpenAI launches SearchGPT
👉Dexom earnings are in
👉Andrew Left has been charged
OpenAI: Launches SearchGPT
OpenAI announced SearchGPT, a prototype search engine, aiming to provide fast answers with clear sources. Currently tested by a small group, it will eventually integrate with ChatGPT. This move could challenge Google's dominance in search.
Source: Search Engine Land
Since ChatGPT's launch in November 2022, Alphabet investors have worried about losing market share. SearchGPT aims to offer a natural, conversational search experience.
🎯GRIT TAKE: We’re stunned to see Delta … upgrade to VIP now to read the full GRIT Take!
EARNINGS: Dexcom
Shares of Dexcom plunged nearly 40% in extended trading Thursday after the diabetes management company reported disappointing Q2 revenue and weak guidance. Revenue rose 15% to $871.3 million, and net income increased to $143.5 million from $115.9 million last year.
Source: NBC
For Q3, Dexcom expects revenue between $975 million and $1 billion, considering unique items affecting 2024. Full-year revenue is now projected at $4 billion to $4.05 billion, down from $4.2 billion to $4.35 billion. Dexcom's CEO Kevin Sayer cited challenges due to sales team restructuring, fewer new customers, and lower revenue per user. Rebates for the new G7 CGM and underperformance in the durable medical equipment channel also impacted results. The new over-the-counter CGM, Stelo, will launch in August.
PROSECUTORS: Charge Andrew Left
Federal prosecutors have charged well-known short seller Andrew Left with securities fraud, alleging he used his public platform to manipulate stock market activity for profit.
Source: CNBC
In addition, the SEC has filed a civil fraud lawsuit against Left and his firm, Citron Capital, accusing them of a multi-year, $20 million scheme to defraud followers with false stock trading recommendations. Left, 54, from Boca Raton, Florida, faces a 19-count criminal indictment and is expected to be arraigned in Los Angeles federal court in the coming weeks, according to the U.S. Attorney’s Office in L.A.
Chart of the Day
📊 TESLA
Source: @Carbon Finace
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Source: @wallstbets
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