), which saw its shares soar 21% after an account linked to meme stock trader Keith Gill, also known as"Roaring Kitty," posted a screenshot of a trading accountI'm Julie that Josh left in live from our New York City headquarters.
They're basically going to be releasing these every year previously, cyclical companies are becoming more secular. If you look at them sort of very broadly here, you see a mixed picture, but you gotta equal weight it to kind of see what's going on here because guess what?We're gonna get to more on that as uh as the show goes on, there's the five day to really give you a look up at the look at the big jump that we saw in the shares and that has to do with uh the man known as roaring kitty or at least someone purporting to be him uh revealing a big new trade in that name.
It's more the sentiment that everyone's looking for, you know what is Roar and Kitty gonna do next and then his followers are gonna follow that.And Chris I it's Julie here just put this into perspective for us.You know, the, the account says it belongs to this person who we've known as Keith Gel in the past.However, it also looks like 100 and 20,000 options.Give us sort of perspective on the size of that kind of options position relative to what we typically see.
You know, obviously, you know, we weren't expecting it to be uh a specific person, but you can see these trades, it's a listed market.So, um you know, that's why this trading options is challenging, but this information was out there in the world just not who it was. So, you know, I spend 99% of my time on, um, other opportunities on, you know, fed events on CP I on things like that really only look at this when this stuff pops up and it's typically, you know, more media related than our clients.
Uh And typically it's not Chris, I'm just curious, you know, more broadly, do you, do you see this trend, this kind of uh meme stock phenomenon? Plus as tech giants looked to offset their A I emissions, we're focusing on the business of carbon removal. You can see Berkshire Hathaway, the air shares are front and center and they are currently trading at $625,000 662 dollars and 50 cents per share.Some other big takers affected Abbot Chipotle Mexican Grill and we also have some smaller takers as well including Gamestop up 30% today and also AMC up about 13% today.
But I guess the good news is is that all of these stocks that we're looking at right here were not limit down at their lows today.Next up, Novavax shares soaring today, the Food and Drug administration announcing it would vote whether to recommend a new COVID-19 booster here with more as Yahoo finds the senior reporter, Angelique Klan.And of course, Novavax, we know one of the companies that gains to uh looks to gain the most from this move from the FDA.
So uh what the fall roll out will look like and what the demand will look like still remains to be seen.And, and as you said, Novavax is looking to capitalize the most because it has the most to gain because it's coming from, I mean, in other words, most of the other players are big companies, lots of other products, not not well and moderna also and not so much with the other.But yeah, Novavax still the one that has just a single product on the market and that is this one right now.
But as you mentioned, ultimately, this all comes down to Shari Redstone, a deal must first be approved by Redstone in order to move forward.So that's something we're going to continue to track and this is a very complicated deal.Number one is that Sha Redone will receive around 2 billion cash for her state in National Amusements Sky, but then merge its studio business with Paramount and purchase about half of Paramount's non voting shares for 4.
This is something that they've been committed to as they work to reach profitability, stronger margins.There's a lot of bullishness on the street and, and you have to think that a lot of these services were priced really low to start just to get those subscribers.Investors struggling to keep the market's main momentum going in the first trading day of June stocks, mixed with about 30 minutes left to close We Manufacturing Day this morning.
We do know that tighter m see higher interest rates really affects individuals across the broad economy from the bottom up in terms of lower income, individuals who are more heavily embedded also have the higher interest costs, lower credit ratings. And then we also have, I think as far as the fed, really, they're trying to figure out is inflation going to cool faster than growth right now, it looks like growth might cool faster than inflation.
You could see shares under some pressure there, Julie, this is coming from, of course, Anthony Cumba, we like Anthony.He calls out this sort of wideness pricing gap versus rivals that it is on average 8.5% more expensive compared with 6.7% more expensive in March. Um But, you know, in this environment that's perhaps a little bit less tenable than it was for a while.It's getting a double upgrade from Citigroup which also raises price target from $67 to $100 and a rare double upgrade, rare double upgrade.
And an attractive margin expansion story develops most on the street, by the way, do not share this bullishness.And they say eventually, as you're looking at that multi year opportunity, eventually, when rates come down, the durable goods demand should come back along with it.All right, let's move on for some families dying out is more expensive than ever.And joining us now with more is Peter Gabo Bank of America Security Senior Food and Beverage analyst, Peter, thanks for joining us.
Why are they not able to or, or not purchasing nearly as much while as you know, the upper income consumer seems to still be doing ok. And they're driving probably more of that um away from home spend at this point. Um had some hiccups that, that went along with that and, and you know, had a volume disappointment in the quarter as a result, volume disappointments in, in food companies are being punished pretty dramatically at, at, at this rate.On top of that, you know, Lamb Weston was kind of the first ones to, to call out the softening environment that we've been seeing in restaurants.
I mean, if, if you go back, um, and, and this is something we've looked at, you haven't had this level of pricing, um, over a cumulative kind of three year period in the US since like the 19 seventies. One name that we're still um positive on and feel good as we get into the back half is, is mccormick.
And part of this is because of the details of that plan with their output cuts extending into 2025 because there are some voluntary additional cuts within that plan.And analysts told me that the markets really had anticipated that those cuts would be extended through the end of the year. And you're starting to see that in volatility, both Friday and today and, and clearly the last day of the trading uh month and the first day of the trading month, don't tell a lot, but I think investors should brace for volatility as we look to the summer.
They're high dividend yielders, those should look more attractive if the Fed, in fact cuts interest rates this year.But I think it's about a global macro play, really talking about the offensive. So let's take, uh I'm gonna look at Honeywell for a minute here um because, you know, an industrial has some cyclical characteristics, but how are you viewing it and where does it fit into your strategy?So, Honeywell is a high quality industrial conglomerate uh although more recently has announced plans to refocus um and, and it reorganized its business segments.
Uh And so that's early days for that, but it's something that could be uh rolled out to uh the other customers.And Jason back to you another sector.It sounds like uh Jason in part that's you know, higher for a longer backdrop. So we're seeing record volumes with advisors, buying structured notes that are linked to major indices like the S and P 500 Europe is really popular right now.
It's an ob Ballo in industry and there's only a few players around the globe and uh one of their biggest competitors is Lindy.So they tend to get a premium uh and air products has a little hair on it right now because they're embarking on some very large projects that they haven't done before, like uh green hydrogen products that really plays to the to the renewables um angle.
But small caps also benefit from a strong dollar which we're still seeing and I continue to believe we'll see and they benefit from a strong economy. Also, according to this story is looking into his options trade and because people follow him is this considered market manipulation.On the one hand, on the other hand, there's a concern of what happens reputation, what happens with his so called meme army if they do take him off the platform.I mean to your point, I mean, listen, we've talked, he, he is a focal point of a lot of discussion.He has more than more than a million it sounds like.