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	Blackstone Inc&#39;s (NYSE: BX) CEO Stephen Schwarzman said that worried investors drove redemptions from its $69 billion unlisted real estate income trust (REIT) due to market volatility rather than dissatisfaction with the fund.


Blackstone CEO Says Worried Investors Behind REIT Redemptions

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In the ongoing battle over Florida&#8217;s constitutional amendments to <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">legalize recreational marijuana</a> and access to abortion, Governor <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> is facing a huge fundraising disadvantage. His <a href="https://www.benzinga.com/markets/cannabis/24/06/39279951/desantis-new-freedom-fund-has-2-stated-goals-defeat-cannabis-legalization-and-abortion-amendment">recently created</a> Florida Freedom Fund, with the stated goal of defeating these two amendments has raised a meager $10,000 — an amount that pales in comparison to the millions amassed by proponents of the <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">cannabis amendment</a>.  
<a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>, the committee leading the initiative, which is the best-funded cannabis legalization amendment in American history, reported it had has raised over <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">$60 million</a>, according to June 10 campaign filings. DeSantis' Freedom Fund reported having raised $10,000 in the five weeks of fundraising activity ending June 21, <a href="https://floridapolitics.com/archives/682069-ron-desantis-florida-freedom-fund-off-to-slow-fundraising-start/">according</a> to Florida Politics. Both amendments will be decided in the <a href="https://www.benzinga.com/topic/2024-election">November 2024 elections</a>. Florida-based <a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative">Trulieve</a> (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) has reportedly spent more than $40 million to get the measure on the ballot.
As part of DeSantis&#8217; criticism of the cannabis legalization initiative, known as Amendment 3, he has called legal marijuana a gateway to turning Florida into cities like San Francisco or Chicago, reeking of weed smoke with people consuming wherever and whenever they choose. He <a href="https://www.benzinga.com/markets/cannabis/24/06/39311053/desantis-blasts-cannabis-legalization-amendment-says-people-will-be-able-to-bring-20-joints-to-a">said</a> at a mid-June press event that, if legalized in Florida, people will &#8220;be able to bring what, 20 joints to an elementary school.&#8221;
"We are working with a lot of stakeholders who are interested in making sure that we defeat Amendment 3, which would basically do marijuana, wherever you want, just smoke it, take it. And it would turn Florida into San Francisco, or Chicago, or some of these places," DeSantis <a href="https://www.benzinga.com/markets/cannabis/24/06/39492507/desantis-says-cannabis-legalization-amendment-will-protect-weed-rights-better-than-1st-2nd-amend">said</a>. "We already have medical marijuana, it's out there. But we got to keep our streets clean, we cannot have every town smelling like marijuana."
This is despite a recent&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39261393/trump-holds-4-point-edge-over-biden-in-florida-rematch-can-cannabis-tilt-the-scale-as-majority-s" target="_blank" rel="noreferrer noopener">Fox News poll</a>&nbsp;showing that 69% of Floridians support the abortion-access initiative and 66% favor legalizing adult-use cannabis.
Related: <a href="https://www.benzinga.com/markets/cannabis/24/06/39492507/desantis-says-cannabis-legalization-amendment-will-protect-weed-rights-better-than-1st-2nd-amend">DeSantis Says Cannabis Legalization Amendment Will Protect Weed Rights Better Than 1st, 2nd Amendments Protect Free Speech, Gun Rights</a>
<h2 class="wp-block-heading">Speaking Of Money</h2>
At a&nbsp;roundtable in mid-June, <a href="https://www.benzinga.com/markets/cannabis/24/06/39346531/desantis-cant-get-past-the-odor-of-weed-to-smell-the-flowers-specifically-430m-annually-in-canna">Safe &amp; Smart quoted economists</a> who estimate that legalizing marijuana could generate between $195 million and $431 million annually in sales tax revenue, providing a significant boost to the state's economy. Florida is not unique either. Other legal&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/05/38712820/legal-cannabis-states-raked-in-20b-since-2014-peaking-at-4b-in-2023-new-report-shows" target="_blank" rel="noreferrer noopener">weed states are doing it</a>&nbsp;to the tune of&nbsp;$20 billion in tax revenue.
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TCNNF

DeSantis' Anti-Cannabis 'Florida Freedom Fund' Raises Barely A Fraction Of Legalization Committee's $60M

In a tweet on Sunday, Tesla CEO Elon Musk expressed criticism over the Democratic Party&#8217;s continued support for President Joe Biden, <a href="https://www.benzinga.com/news/24/06/39563864/these-are-the-top-democratic-contenders-who-could-succeed-biden-if-president-were-to-bow-out-of">likening him to a &#8220;pincushion.&#8221;</a>
What Happened: On Sunday, Musk took to social media platform X to share his thoughts on the current presidential race.
He retweeted a post by The New Yorker, which contained a link to an article by the publication&#8217;s editor, David Remnick, criticizing Biden&#8217;s insistence on remaining the Democratic candidate.
Musk added his own commentary, stating, &#8220;Even Remnick is knifing Biden! There are so many Dem knives in Biden's back right now, he's basically a pincushion.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Even Remnick is knifing Biden! There are so many Dem knives in Biden's back right now, he's basically a pincushion.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1807341009161908408?ref_src=twsrc%5Etfw">June 30, 2024</a></blockquote>
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The tweet came amidst growing criticism of Biden within his own party, with Musk&#8217;s comments highlighting the increasing dissent.
Also Read: <a href="https://www.benzinga.com/news/24/06/39565047/outside-last-weeks-debate-trump-gained-momentum-with-two-major-developments-for-better-or-worse">Outside Last Week&#8217;s Debate, Trump Gained Momentum With Two Major Supreme Court Developments — For Better Or Worse</a>
The billionaire entrepreneur also shared his thoughts on a tweet by Tucker Carlson about the president. Carlson&#8217;s tweet, which featured a video of him addressing an audience and was posted on Saturday, touched on the president&#8217;s perceived dementia &#8220;as seen from 10,000 miles away.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Makes a good point about democracy <a href="https://t.co/qQ23BhgVjj">https://t.co/qQ23BhgVjj</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1807342765795156100?ref_src=twsrc%5Etfw">June 30, 2024</a></blockquote>
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Musk responded to Carlson by stating that the video &#8220;makes a good point about democracy.&#8221; 
Why It Matters: Musk&#8217;s tweet underscores the growing divide within the Democratic party over Biden&#8217;s leadership. The Tesla CEO&#8217;s comments reflect the sentiments of many within the party who believe that Biden&#8217;s continued candidacy could be detrimental to the party&#8217;s chances in the upcoming elections.
Furthermore, Musk&#8217;s criticism of Biden could potentially influence public opinion and further intensify the ongoing debate within the party.
Now Read: <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Elon Musk Calls Out New Yorker Piece Criticizing Joe Biden: 'So Many Dem Knives In Biden's Back Right Now, He's Basically A Pincushion'

In the aftermath of the recent presidential debate, former President Donald Trump declared himself the victor while also criticizing <a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti">President Joe Biden&#8216;s performance.</a>
What Happened: Trump took to his Truth Social platform on Saturday, proclaiming his debate performance as the &#8220;greatest in the long and storied history of Presidential Debates.&#8221;
In the <a href="https://truthsocial.com/@realDonaldTrump/posts/112699808723090795">post</a>, he expressed disappointment that the spotlight had shifted to Biden&#8217;s lackluster performance rather than his own triumph.
"As I walked off the stage on Thursday night, at the end of the highly anticipated &#8216;Debate,&#8217; anchors, political reporters and all screamed that I had had the greatest debate performance in the long and storied history of Presidential Debates," Trump posted. "They all said, effectively, &#8216;Trump was fantastic!&#8217;"
"But by Friday evening it was all about the poor performance of Crooked Joe, and not so much about how well I did. Oh well, that's the way it is but, importantly, the result is the same!!!"
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one" target="_blank" rel="noreferrer noopener">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There's One Silver Lining</a>
At a Virginia rally on Friday, Trump lambasted Biden, dubbing him a &#8220;stupid, stupid, stupid man.&#8221; Despite Biden securing his preferred network and debate rules, Trump asserted that &#8220;no amount of rest or rigging&#8221; could aid him on stage.
Biden&#8217;s performance, characterized by blank stares, stumbling over words, and a lack of energy, has raised concerns among Democrats. Calls for Biden to step aside have spread across both parties, but the White House and Biden&#8217;s campaigns have resisted these requests.
Why It Matters: Trump&#8217;s declaration of victory comes on the heels of a series of political successes. Despite facing criticism for his own debate performance, Trump capitalized on Biden's apparent memory lapses and strained voice, which have raised concerns <a href="https://www.benzinga.com/news/24/06/39565047/outside-last-weeks-debate-trump-gained-momentum-with-two-major-developments-for-better-or-worse">about the 81-year-old president's health</a>. 
Trump's sharp retorts during the debate have caused unease among Democrats.
Christian Grose, a professor of political science and public policy at the University of Southern California, stated, "Trump is benefiting only in the sense that Biden did not benefit."
Now Read: <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump</a>
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.

Trading Ideas

Trump Laments Lack Of Attention Paid To 'The Greatest Debate Performance' He Gave: 'It's All About The Poor Performance Of Crooked Joe, And Not So Much About How Well I Did'

Wild Forest, a web3 real-time strategy game, has taken the gaming world by storm. In an exclusive interview, Artem Naseniuk, lead developer at Zillion Whales, shared insights about the game&#39;s development, unique features, and future plans.
<h3>A Vision for Innovation</h3>
Artem Naseniuk explained that Wild Forest began as a web2 game, inspired by the team&rsquo;s passion for strategy games like &quot;Warcraft 3.&quot;
&quot;Our team are big fans of strategy games, and we&#39;ve been building them since 2013,&quot; Naseniuk said.
However, the team saw the potential for greater innovation within the web3 space, prompting the transition.
<h3>Transition to Web3 and Ronin Network</h3>
The decision to move to blockchain was influenced by the stagnation in the web2 gaming market.
&quot;The top charts don&#39;t change much, and it became more like marketing budgets dominating the scene,&quot; Naseniuk noted. Wild Forest chose the Ronin&nbsp;network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RON</a>) for its technical sophistication and supportive community.
&quot;Ronin is beautifully done, technically sophisticated, and probably one of the best from a technological standpoint,&quot; Naseniuk said.
dditionally, the Ronin community stood out for its support and connectivity.
&quot;They are very supportive, and it&#39;s a pure pleasure to interact with them. We do a lot of Community Driven development with them,&quot; he added.
<h3>The Power of NFTs</h3>
Recently, Wild Forest released a powerful NFT collection called the Lords, which sold $1 million worth of NFTs in under one minute.
&quot;We didn&#39;t expect it to sell out in 25 seconds,&quot; Naseniuk admitted.
The NFT collection of the Lords provides early adopters with multiple benefits and forms a core part of the game&#39;s community and lore. The community response was overwhelming, leading to an additional million dollars in secondary market trading within days.
&quot;The community is super active, and we still occupy the top charts in the market,&quot; Naseniuk said.
<h3>Community Engagement</h3>
Building a strong community is a central part of Wild Forest&rsquo;s strategy. Naseniuk emphasized the importance of creating a great user experience and involving the community in development.
&quot;Most of our marketing activities are organic. We didn&#39;t spend any money on marketing to this day,&quot; he said.
This organic growth is a testament to the game&rsquo;s quality and the dedication of its community. The company focuses on creating systems that are beneficial and easy to use for content creators and gamers alike, ensuring a supportive and engaged community.
<h3>Future Plans and Token Launch</h3>
Wild Forest&rsquo;s economy is designed around a token, which will play a crucial role in the game&#39;s ecosystem.
&quot;Our token is the core element of the gameplay,&quot; Naseniuk explained.
The game&rsquo;s official launch on July 1&nbsp;will introduce game units as NFTs, and a token release is planned for the future.
&quot;Players need to invest in the game to yield rewards, and the more they invest, the more rewards they get,&quot; Naseniuk noted. This model aims to eliminate extractor behavior by encouraging players to reinvest their time or money into the ecosystem, creating a balanced economy.
&quot;We hope to build a sustainable model and become one of the first to succeed in this area,&quot; he added.
<h3>Upcoming Announcements</h3>
Naseniuk shared an exciting upcoming campaign: &quot;We&#39;re launching a Plato drop season, which will last four weeks, giving away two and a half percent of our total tokens.&quot;
This campaign aims to onboard more players and further integrate the community into the game&rsquo;s ecosystem. Additionally, players will have the opportunity to trade game units as NFTs, allowing them to earn benefits and share the experience of a great game.
&quot;We expect to see at least 100,000 participants in this season,&quot; Naseniuk said, highlighting the anticipated growth and engagement of the community.
<h3>Closing Remarks</h3>
Naseniuk concluded with a message to the community: &quot;We have a lot of things they will definitely like, and we would love to welcome all players.&quot;
With a focus on innovation, community, and player ownership, Wild Forest is set to redefine the landscape of web3 gaming.
Image courtesy of Wild Forest

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A report from Goldman Sachs has raised doubts about the potential return on investments in artificial intelligence (AI) by tech companies.
What Happened: According to the report, companies are projected to invest over $1 trillion in AI. However, Goldman Sachs&#8217; report expresses apprehension about the returns on this colossal investment.
The <a href="https://www.goldmansachs.com/intelligence/pages/gs-research/gen-ai-too-much-spend-too-little-benefit/report.pdf">report</a> underscores the high costs associated with AI technology, including data centers, power grids, and AI chips, and questions whether these costs can be justified by the returns.
&#8220;AI technology is exceptionally expensive, and to justify those costs, the technology must be able to solve complex problems, which it isn&#8217;t designed to do,&#8221; Jim Covello, the head of global equity research at Goldman Sachs, said in the report.
Covello also criticized the tech industry&#8217;s assumption that AI costs will significantly decline over time. He mentioned Google&#8217;s decision to reduce its AI usage in search after its bot began making strange suggestions as an example.
&#8220;The starting point for costs is also so high that even if costs decline, they would have to do so dramatically to make automating tasks with AI affordable,&#8221; Covello added. &#8220;In our experience, even basic summarization tasks often yield illegible and nonsensical results.&#8221;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39432776/nvidia-ceo-jensen-huang-recalls-billions-of-dollars-of-investments-in-deep-learning-and-the-philosop?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Recalls Billions Of Dollars Of Investments In Deep Learning</a>
Despite Covello&#8217;s skepticism, other experts quoted in the report were more optimistic. 
&#8220;The technology&#8217;s cost equation will change, just as it always has in the past,&#8221; said Kash Rangan, a senior equity research analyst at Goldman Sachs. 
Eric Sheridan, another senior analyst with the firm, compared the initial reactions to AI with those to the iPhone and Uber, predicting a similar acceptance over time.
&#8220;People didn&#8217;t think they needed smartphones, Uber, or Airbnb before they existed. But today it seems unthinkable that people ever resisted such technological progress. And that will almost certainly prove true for generative AI technology as well,&#8221; Sheridan said.
Why It Matters: The concerns raised by Goldman Sachs come at a time when tech companies are aggressively pursuing AI advancements. 
For instance, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly in talks with Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to integrate Meta's generative AI model into Apple's new AI system, Apple Intelligence. This move is part of Apple&#8217;s broader <a href="https://www.benzinga.com/news/24/06/39447797/apple-eyes-meta-for-potentially-game-changing-ai-partnership-report">strategy to catch up in the AI race</a>.
Apple, a late entrant to the generative AI field, has developed its own smaller AI models. However, for more complex or specific tasks, it is seeking partnerships with other companies. 
The company&#8217;s focus on AI underscores the importance of this technology, despite the concerns raised by Goldman Sachs.
Now Read: <a href="https://www.benzinga.com/news/24/05/39020980/elon-musk-reveals-the-biggest-benefit-of-ai-replacing-human-jobs-in-a-benign-scenario">Elon Musk Reveals The Biggest Benefit Of AI Replacing Human Jobs: &#8216;In A Benign Scenario &#8230;&#8217;</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Tech

AAPL

Goldman Sachs Casts Doubt On 'Exceptionally Expensive' AI Investments By Tech Companies

At the recent 30/50 Summit in Abu Dhabi, <a href="https://www.benzinga.com/personal-finance/24/06/39362361/suze-orman-tells-caller-investing-500-per-month-from-early-social-security-would-be-the-most-rid">Suze Orman</a> sat down with Mika from MSNBC to discuss the current state of the U.S. economy and the financial worries that keep her up at night. Their conversation highlighted the stark contrast between the overall economy&#8217;s health and many individuals&#8217; financial struggles.
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<li>Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a></li>
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When Mika asked Orman about her concerns regarding the economy at the beginning of the year and now, Orman's response was candid. &#8220;I&#8217;m always concerned about those that don&#8217;t have money,&#8221; she said. Despite reports that inflation has calmed down, she emphasized that many people still struggle to afford basic necessities. "The rents people are paying, the prices they're paying for real estate, their homes, that concerns me."
Orman acknowledged that, on the surface, the economy appears to be doing well. &#8220;It seems like we're doing alright. It seems unemployment's alright, the markets are over the top great, and it's kind of settled in,&#8221; she noted. However, she stressed that this positive outlook on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39420979/us-economy-in-state-of-unstable-equilibrium-study-finds">overall economy</a> doesn&#8217;t reflect the reality for many individuals.
Mika pointed out the seeming contradiction in economic indicators. "Leading indicators look good. But it is expensive at the grocery store and hard to get a home."
Orman agreed, highlighting the distinction between the overall economy and individual financial situations. "On an individual level, I think people are not doing okay. I do not. Over 50% of the people in the United States don't have $400 for an emergency savings account," she said.
Trending: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
Orman elaborated on the challenges faced by individuals. Without sufficient savings, unexpected expenses, like a car repair, often lead to increased debt. "They have to go and put it on a credit card and pay the minimum payment, and then the cycle of debt begins," she explained.
While the overall economic indicators might look promising, Orman believes they fail to capture the average person&#8217;s financial struggles. "When you look at people's individual situation, in my opinion, they're still struggling."
When asked about the economic concerns that keep her up at night, Orman pointed to geopolitical issues rather than domestic financial instability. "What keeps me up at night are the wars. What's happening in Israel, Gaza, Ukraine and Russia? We are now a global economy," she said. Orman explained that global conflicts have far-reaching effects on the economy, as resources are diverted to combat and defense, impacting global trade and economic stability.
Mika inquired whether these global worries should influence individual <a href="https://www.benzinga.com/money/what-is-financial-planning">financial planning</a>. Orman stressed the importance of staying informed. "I think they should absolutely be knowledgeable about it. And I think if you're just not worried because you don't want to know about it, now you're also asking for trouble on a personal level."
Suze Orman's insights at the 30/50 Summit underscore a critical message: While the macroeconomic indicators might paint a rosy picture, many individuals continue to face significant financial challenges. Her advice is clear — stay informed, be prepared, and understand that the economy&#8217;s overall health does not necessarily reflect the economic well-being of the average person.
Given these complexities, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can be invaluable. A professional can provide personalized guidance, help you navigate economic uncertainties, and create a robust financial plan tailored to your needs. As we navigate these uncertain times, taking proactive steps with the help of an expert can make a significant difference in achieving financial stability and peace of mind.
Read Next:
<ul>
<li>How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a></li>
<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
</ul>

Personal Finance

Suze Orman Breaks On The Overall Economy Vs An Individual Economy — Says 'On An Individual Level, I Don't Think People Are Doing OK'

Paul Krugman, an authority in economics and Noble Prize winner, commented on Friday&#8217;s<a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39547288/feds-preferred-inflation-gauge-falls-to-lowest-level-since-november-2021-relieves"> inflation data that showed a further easing in pricing pressure, </a>prompting an increase in the odds of rate cuts.
Inflation War Won? &#8220;Inflation looks beaten,&#8221; said Krugman in a post on X, formerly Twitter. The Bureau of Economic Analysis&#8217; personal income and spending report released on Friday showed that the annual rate of the personal consumption expenditure index (PCEI) came in 2.6%, marking the lowest level since March 2021. The metric is considered the Fed&#8217;s favorite inflation gauge.
Sharing a chart of the annual rates of PCEI and the core PCEI, Krugman said, &#8220;The blip a few months ago looks like start-of-year price resets, and what's left is lagged housing costs.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In other news, inflation looks beaten. The blip a few months ago looks like start-of-year price resets, and what's left is lagged housing costs <a href="https://t.co/OsBPCPC2vo">pic.twitter.com/OsBPCPC2vo</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1806724684584550764?ref_src=twsrc%5Etfw">June 28, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/money/best-inflation-stocks">Best Inflation Stocks</a>
Why It&#8217;s Important: Consumer price inflation rose to a high of 9%+ in the summer of 2022 and has been trending broadly downward. The CPI, which was at 3.1% at the start of this year, jumped slightly to 3.5% in March and fell to 3.4% in April. Krugman attributed the spike seen earlier this year to &#8220;start-of-year price resets.&#8221;
One significant factor keeping the CPI inflation above the Federal Reserve&#8217;s 2% threshold is shelter costs. Home prices are not included in inflation calculations because they are considered an investment by the Bureau of Labor Statistics. However, the CPI does include rents and &#8220;owners&#8217; equivalent rents,&#8221; which estimate the amount a homeowner might charge if they rented out their own home.
Shelter costs accounts for 30-40% of the CPI.
The BLS collects data for calculating the CPI every month, but the rent included is the amount negotiated at the start of the lease, which may have been set well before that particular month. Therefore, economists often regard this number as a lagging indicator.
The inflation number is particularly important, as the Federal Reserve has maintained the Fed funds rate at a 22-year high. A reduction in interest rates could kickstart growth and have a cyclical effect on the economy.
For the stock market, which is rallying due to a sharp spike in shares of select stocks tied to artificial intelligence technology, a rate cut could mean additional gains. Lowering rates is seen as a positive for interest-rate-sensitive companies, potentially leading to a rise in stock prices and a broadening of the rally.
That said, inflation truthers such as Peter Schiff have warned that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38840668/gold-bull-peter-schiff-says-inflation-headed-far-higher-as-powell-refuses-to-acknow">inflationary pressure will reignite in the near- to medium-term.</a>
The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>), an ETF tracking the investment results of an index composed of inflation-protected U.S. Treasury bonds, ended Friday&#8217;s session down 0.31% at $106.78, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/top-stories/24/06/39552559/inflation-data-shows-fed-policy-is-working-daly-says">Inflation Data Shows Fed Policy Is &#8216;Working&#8217;, Daly Says</a>
Photo: Shutterstock

Analyst Color

Economics

Federal Reserve

Prominent Economist Paul Krugman Says 'Inflation Beaten,' Underlines This As Reason For Sticky Pricing Pressure

&ldquo;My journey into the world of cannabinoids began as a way to find some balance in the chaos of my life,&rdquo; says Travis Barker in an exclusive interview. Not only did Barker charge forward as the powerhouse behind the drums in Blink-182, but he also nurtured his relationship with cannabis along the way.
&ldquo;From the intense workouts in boxing and Muay Thai to touring and drumming with Blink-182, it&#39;s been a crazy ride,&rdquo; he continues. &ldquo;Cannabis, especially edibles, became my go-to for recovery and finding a peaceful state of mind.&rdquo;
As Barker aged and evolved within the ever-high-energy world of touring, his use of cannabis became more nuanced, as he started to use it to foster creativity and increase general well-being. &ldquo;Back in the day, it was about partying and having a good time, but it&#39;s evolved into not just getting high but having cannabis work for me functionally both mentally and physically to align with the lifestyle that I&rsquo;ve chosen,&rdquo; he elaborates. &ldquo;Today, my relationship with cannabis is much more sophisticated. It&#39;s about finding a balance that enhances creativity, promotes well-being and highlights positive vibes.&rdquo;
This journey is where Barker Canna Co., a business that started as a wellness venture and is now expanding into the cannabis space, &ldquo;seeking to bridge the gap of quality and affordability,&rdquo; comes into play, the musician explains. For him, it&rsquo;s all about sharing what he&rsquo;s &ldquo;learned and experienced with the world (quality, balance and good vibes) [about] sparking inspiration and self-expression.&rdquo; More on this, later on.
<h2>&lsquo;More Than You Know&rsquo;: Barker&rsquo;s Deep Connection With The Plant</h2>
In early 2023, after sustaining a serious injury to his finger, not once but twice, during tour rehearsals, Barker underwent surgery to address the issue. The procedure, crucial for his ability to continue playing drums, involved repairing a torn ligament in his finger. This medical intervention marked a turning point in his approach to pain management and recovery.
Barker&rsquo;s life experience made him a staunch advocate for cannabis legalization. &ldquo;It&#39;s time to have a real talk about cannabis,&rdquo; he voices. &ldquo;We must let go of outdated stigmas that have existed for too long. Cannabis leads to freedom, creative exploration and medical benefits, and it should not be looked upon as forbidden. We have come a long way in understanding the potential of cannabis, and it&#39;s about time our laws and research funding catch up. It&#39;s not about getting high, it&#39;s about finding relief.&rdquo;
<img alt="Travis Barker" src="https://imageio.forbes.com/specials-images/imageserve/65c26116a8d237d252c28779/Travis-Barker/960x0.jpg?format=jpg&amp;width=1440" style="height:450px; width:368px" />
<a href="https://elplanteo.com/travis-barker-blink-182/">Travis Barker</a>. DANIEL ROAJS
Addressing the &ldquo;racial disparities the War on Drugs has caused,&rdquo; the artist summons people to think about it in depth. &ldquo;It is time for the cannabis industry and society to acknowledge the impact and take steps to rectify these disparities,&rdquo; he declares.
The first thing we need to do, in his view, is create more opportunities to those most affected by the War on Drugs. &ldquo;We need to focus on fostering inclusivity and providing measures for education and employment within the cannabis industry. We also need to shift the narrative around cannabis. Instead of seeing it through the lens of harm, let us focus on its potential for good,&rdquo; he asserts.
And he adds: &ldquo;Let&#39;s open up the doors and create a space where people can make educated choices about cannabis, whether it&#39;s for medical reasons or to enhance their overall well-being.&rdquo;
As Barker maps out the future of cannabis legislation, he remains optimistic about its potential for societal change. &ldquo;I foresee a progressive shift in cannabis legislation globally,&quot; he anticipates, suggesting an impending federal legalization in the U.S. and increasing global acceptance.
His love of music also plays a part in this narrative. In fact, Barker believes that legalization &ldquo;will likely have a profound impact on the music industry.&rdquo; As he explains, cannabis has long been intertwined with musical creativity and inspiration. &ldquo;As legalization progresses, we anticipate more artists incorporating cannabis culture into their brands and projects, fostering a new era of collaboration and artistic expression.&rdquo;
And this rings true. Artists from Jay-Z,<a href="https://www.forbes.com/sites/javierhasse/2023/12/19/snoop-dogg-talks-new-cannabis-beverage-line-not-everyone-wants-to-smoke-or-vape-to-get-high-drinking-is-familiar/?sh=3362289c356f" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/12/19/snoop-dogg-talks-new-cannabis-beverage-line-not-everyone-wants-to-smoke-or-vape-to-get-high-drinking-is-familiar/?sh=3362289c356f">&nbsp;Snoop Dogg</a>,<a href="https://www.forbes.com/sites/javierhasse/2023/04/11/rick-ross-reveals-his-new-cannabis-strain-it-makes-you-feel-good-relaxed-like-a-boss/" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/04/11/rick-ross-reveals-his-new-cannabis-strain-it-makes-you-feel-good-relaxed-like-a-boss/">&nbsp;Rick Ross</a>&nbsp;and<a href="https://www.forbes.com/sites/javierhasse/2020/09/16/berner/?sh=62b28b03541d" target="_self" title="https://www.forbes.com/sites/javierhasse/2020/09/16/berner/?sh=62b28b03541d">&nbsp;Berner</a>, to<a href="https://elplanteo.com/carlos-santana-marihuana-espiritualidad-musica/" rel="nofollow noopener noreferrer" target="_blank" title="https://elplanteo.com/carlos-santana-marihuana-espiritualidad-musica/">&nbsp;Carlos Santana</a>, Willie Nelson and<a href="https://www.forbes.com/sites/javierhasse/2023/09/19/method-man-talks-weed-we-are-the-american-dream-from-getting-locked-up-to-being-a-proprietor/" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/09/19/method-man-talks-weed-we-are-the-american-dream-from-getting-locked-up-to-being-a-proprietor/">&nbsp;Method Man</a>, have not only overtly supported legalization over the years, but have also launched weed brands of their own. And the same trend can be seen all over the world, as evidenced by these<a href="https://www.forbes.com/sites/javierhasse/2023/08/04/9-latin-musicians-with-their-own-cannabis-brands/" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/08/04/9-latin-musicians-with-their-own-cannabis-brands/">&nbsp;9 Latinx musicians who have also released cannabis-related brands</a>.
<h3>Forget &lsquo;Dumpweed&rsquo;: The Inception Of Barker Canna Co.</h3>
Barker&rsquo;s evolution within the cannabis world mirrors that of the burgeoning U.S. market, which boasted&nbsp;<a href="https://www.grandviewresearch.com/industry-analysis/us-cannabis-market" rel="nofollow noopener noreferrer" target="_blank" title="https://www.grandviewresearch.com/industry-analysis/us-cannabis-market">estimated</a>&nbsp;sales of $13.2 billion in 2022 and $15.8 billion in 2023, generating an economic impact of<a href="https://mjbizdaily.com/cannabis-industry-will-add-100-billion-to-us-economy-in-2023" rel="nofollow noopener noreferrer" target="_blank" title="https://mjbizdaily.com/cannabis-industry-will-add-100-billion-to-us-economy-in-2023">&nbsp;more than $100 billion</a>&nbsp;per year. Barker&#39;s venture thus aligns with an industry at the forefront of reshaping societal perspectives on wellness, creativity and economic development.
<img alt="Barker Canna Co." src="https://imageio.forbes.com/specials-images/imageserve/65c26176add86e9b3033c1b0/Barker-Canna-Co-/960x0.png?format=png&amp;width=1440" style="height:450px; width:318px" />
Barker Canna Co. BARKER CANNA CO.
Drawing on his experiences in music, Barker sees parallels in his approach to the cannabis business. &ldquo;The world of music has taught me a lot about creativity, pushing boundaries and connecting with people,&rdquo; he says. This philosophy is evident in Barker Canna Co.&#39;s commitment to creating an experience that transcends the product, fostering a deep connection with the community.
&ldquo;The intersection of the rock music scene and cannabis culture is undeniable,&rdquo; he goes on. &ldquo;Both embody rebellion, creativity, and a sense of individuality. Barker Canna Co. embraces this synergy by creating products that reflect the free-spirited essence of the rock scene, offering a unique and authentic experience for cannabis enthusiasts who share our passion for music and self-expression.&rdquo;
In this sense, &ldquo;Barker Canna Co. is [meant for] adults looking for a mindful and balanced cannabis experience... For consumers [who] appreciate quality and are open to exploring the benefits of cannabis at a price point that is accessible to all.&rdquo;
Barker also discusses the innovative approaches Barker Canna Co. is taking with its product line. &ldquo;We&#39;re exploring unique formulations, delivery methods, and product experiences&hellip; promoting cannabis as a holistic tool for relaxation, creativity, and overall well-being,&rdquo; he states, underlining his commitment to elevating the cannabis experience.
<img alt="Barker Canna Co." src="https://imageio.forbes.com/specials-images/imageserve/65c2618eadd86e9b3033c1b2/Barker-Canna-Co-/960x0.png?format=png&amp;width=1440" style="height:450px; width:296px" />
Barker Canna Co. BARKER CANNA CO.
Over time, Barker plans to take the brand abroad, reaching an international audience through &ldquo;strategic partnerships and a phased approach.&rdquo; Collaborating with other musicians and exploring the &ldquo;potential to merge creative energies&rdquo; is not off the table either, he adds.
As he reflects on prior experiences, Barker explains how key learnings from other ventures, especially in the lifestyle and entertainment industry, &ldquo;have been instrumental in shaping Barker Canna Co.&rdquo; He emphasizes the importance of brand authenticity and connecting with consumers: &ldquo;Barker Canna Co. is built on a foundation of transparency and genuineness,&rdquo; he explains, highlighting his commitment to embodying personal values and ethics in his brand.
Barker Canna Co. is not just a brand launch for him; it represents Barker&#39;s participation in a cultural and societal shift, viewing cannabis as a medium for wellness, creativity and social change: &ldquo;We strive to connect with consumers on a personal level, aligning our values with theirs and fostering trust in the cannabis space.&rdquo;
<h3>It&rsquo;s About &lsquo;All The Small Things&rsquo;</h3>
As the conversation nears its end, Barker embarks on two final topics: the journey of cannabis entrepreneurs and his ideal weed partner.
<img alt="Travis Barker" src="https://imageio.forbes.com/specials-images/imageserve/65c261abb14cf9eb07cebe80/Travis-Barker/960x0.jpg?format=jpg&amp;width=1440" style="height:397px; width:624px" />
Travis Barker. DANIEL ROJAS
&ldquo;For those entering the cannabis industry, my advice is to stay informed, be adaptable and prioritize compliance,&rdquo; he says. &ldquo;Embrace the evolving landscape, focus on product quality and build a brand that resonates with authenticity. Additionally, fostering positive relationships within the industry and advocating for responsible use will contribute to long-term success.&rdquo;
Finally, on a lighthearted note, he answers the already classic question: if you could share cannabis with anyone, dead or alive, who would that be?
For Barker, the ideal cannabis companion would be 2Pac. And he&rsquo;s unhesitant in his answer. However, he adds a little twist: &ldquo;Instead of passing him a joint, I&rsquo;d slide over [an edible].&rdquo;
&ldquo;I&#39;m more of an edibles guy myself,&rdquo; he adds, painting a vivid picture of the situation. &ldquo;Imagine vibing to Pac&rsquo;s music, sharing wisdom over a chill session with (...) gummies in hand. That&#39;s the dream session right there.&rdquo;
Follow me on&nbsp;<a href="https://www.twitter.com/javierhasse" rel="nofollow noopener noreferrer" target="_blank">Twitter</a>&nbsp;or&nbsp;<a href="https://www.linkedin.com/in/javierhasse/" rel="nofollow noopener noreferrer" target="_blank">LinkedIn</a>.&nbsp;Check out&nbsp;my&nbsp;<a href="https://elplanteo.com/" rel="nofollow noopener noreferrer" target="_blank">website</a>&nbsp;or&nbsp;some of my other work&nbsp;<a href="https://benzinga.com/cannabis" rel="nofollow noopener noreferrer" target="_blank">here</a>.&nbsp;
This article was originally published on <a href="https://www.forbes.com/sites/javierhasse/2024/02/06/blink-182s-travis-barker-cannabis-helps-me-find-balance-in-the-chaos-of-my-life/?sh=eb8fd5c40cd7">Forbes</a>&nbsp;and appears here with permission. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Blink-182's Travis Barker: 'Cannabis Helps Me Find Balance In The Chaos Of My Life'

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol></ol>
<ol>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares surged 30.04%  in the last week following a report suggesting the company has simplified its output, cut costs and announced plans for a<a href="https://www.benzinga.com//node/39497161" target="_blank" rel="noreferrer noopener"> joint venture with Volkswagen</a>.</li>
<li>Carnival Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUK#NYSE">CUK</a>) stock gained 17.78% on continued strength following <a href="https://www.benzinga.com//node/39481992" target="_blank" rel="noreferrer noopener">better-than-expected Q2 earnings</a>.</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) stock soared 17.51% in the last week on better-than-expected Q4 financial results and guidance. Also, the company announced it expects to buy back $2.5 billion <a href="https://www.benzinga.com//node/39504381" target="_blank" rel="noreferrer noopener">worth of stock in FY25</a>. Several analysts raised the <a href="https://www.benzinga.com//node/39509568" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) stock advanced 16.37% after RBC Capital reiterated an Outperform rating and maintained its<a href="https://www.benzinga.com/quote/iot/analyst-ratings" target="_blank" rel="noreferrer noopener"> price target of $47</a>.</li>
<li>Suzano S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUZ#NYSE">SUZ</a>) shares rose 12.24% after it <a href="https://www.benzinga.com//node/39519611" target="_blank" rel="noreferrer noopener">dropped the acquisition</a> pursuit of International Paper Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IP#NYSE">IP</a>).</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares increased 11.93% after updating on its operating plan and capital structure at the William Blair 44th Annual Growth Stock <a href="https://www.benzinga.com//node/39509401" target="_blank" rel="noreferrer noopener">Conference in early June</a>.</li>
<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) stock gained 11.55% in the last week.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares surged 11.08% after the company announced a policy update to block <a href="https://www.benzinga.com//node/39494776" target="_blank" rel="noreferrer noopener">automated website scraping</a>.</li>
<li>Mongodb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) stock gained 10.57% in the last week.</li>
<li>Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) shares rose 10.82% amid possible continued strength after the company announced topline results from its HELIOS-B Phase 3 study of vutrisiran. Also, multiple analyst firms raised their <a href="https://www.benzinga.com/quote/alny/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
</ol>
Photo Courtesy of Rivian

Movers

ALNY

CVNA

FTAI

MSTR

RDDT

RIVN

Rivian Automotive And Carvana Were Among The 10 Biggest Large Cap Gainers Last Week (June 23-June 29): Are These In Your Portfolio?

This article was originally published on <a href="https://cannabis.net/blog/opinion/the-4-most-expensive-marijuana-strains-on-the-market-today-and-4-cheaper-strains-that-are-just">Cannabis.net </a>and appears here with permission.
<a href="https://cannabis.net/strains">Different cannabis strains</a>&nbsp;have different qualities. Patients and consumers frequently compile a list of their favorite strains that best suit their health requirements because the psychotropic and physical effects of various strains can be strikingly diverse.
Some strains are the result of casual growers experimenting with genetics in their spare time. While this citizen science approach can sometimes yield groundbreaking results, it can also lead to disappointing outcomes.
In contrast, other strains come from extensive breeding programs that involve expensive equipment, experienced breeders, and top-tier genetic material. These&nbsp;<a href="https://cannabis.net/blog/opinion/what-are-the-most-expensive-marijuana-strains-in-the-world">strains often command higher prices on the market.</a>
But are these premium seeds worth the investment? It depends. Some offer genuinely unique and beneficial qualities, while others may be over-hyped and not live up to the marketing claims.&nbsp; Some&nbsp;<a href="https://cannabis.net/blog/news/the-worlds-most-expensive-joint-at-only-24000">expensive marijuana joints</a>&nbsp;have had a list price of over $24,000!
Here are some of the most&nbsp;<a href="https://cannabis.net/blog/opinion/what-are-the-most-expensive-cannabis-strains-on-the-market-and-an-affordable-alternative-to-eac">expensive stains with their cheaper alternatives</a>;
<h3>1. ORACLE</h3>
In 2009, a mysterious strain named Oracle captivated the cannabis community, sparking rumors of a breakthrough in cannabis potency. Oracle&#39;s name buzzed through online forums and real-world events, generating significant excitement.
What fueled this hype? Oracle was rumored to possess two extraordinary traits. First, it was said to produce resinous flowers with a staggering THC content of 45%. Second, Oracle supposedly bloomed in record time, reducing the wait for harvest. These claims drove up the price of Oracle&#39;s genetics, with seeds selling for $200 each and clones fetching $1,000.
Sounds revolutionary, right? Unfortunately, the hype was unfounded, likely a combination of false marketing and overenthusiastic cannabis fans. In 2013, The Werc Shop, a cannabis testing facility, analyzed Oracle samples. They found that not only did Oracle lack 45% THC, but it contained almost no THC at all.
Instead, Oracle flowers were rich in CBD, the non-psychoactive cannabinoid, producing no high and far from the intense effects it was famed for.
Affordable Alternative: CBD Fix Automatic
Paying a premium for a high-CBD cultivar like Oracle doesn&#39;t make sense, especially with other high-quality strains available. Consider CBD Fix Automatic, for example.
This excellent strain offers CBD levels up to 15% with a THC level of just 0.8%. Descending from Northern Light Auto and a CBD-rich clone, it remains small and easily manageable. Its dense flowers provide a light, subtle effect that keeps you productive and focused all day long.
<h3>2. ISLA OG</h3>
Isla OG catapulted to fame after a legendary internet appearance. In a web series, rapper 2 Chainz smoked this strain using a 24-karat gold rolling paper. Whether a savvy marketing stunt or a display of his lavish lifestyle, this moment instantly associated Isla OG with extravagance and premium status.
Despite the exposure, Isla OG remains somewhat mysterious. Cannabis experts speculate that it has sativa genetics, possibly a cross between OG Kush and Hawaiian.
Affordable Alternative: OG KUSH
As one of Isla OG&#39;s potential parents, OG Kush shares many of its desirable traits. This legendary strain offers a similar flavor profile to Isla OG, with high THC levels and a mix of sweet and sour tastes. Enjoy part of Isla OG&#39;s legacy at a much lower cost.
<h3>3. XJ-13</h3>
With 50% Indica and 50% Sativa in equal proportion, XJ-13 is a hybrid strain that is well-known for its intensity and abundant secondary cannabinoid and terpene profile. Due to its distinct makeup, this strain&mdash;which retails for about $350 per ounce and has a total THC level of about 30%&mdash;has earned a place on the luxury strain list.
Strain Profile
-THC: 28%
-THCA: 16%
-CBGa: 14.13 mg/g
-CBCa: 4.16 mg/g
-CBG: 0.57%
-CBD: 0.05%
-Dominant Terpenes: B-Pinene, Humulene, A-Pinene, 3-Carene, Terpinolene, Linalool, Y-Terpinene, P-Cymene
XJ-13 may provide relief from headaches, weariness, muscular spasms, anxiety, and problems with focus and sleep. Given that XJ-13 contains terpenes, which are known to elevate mood, this strain may be helpful to those who are depressed.
Less Expensive Alternatives
- Jack Herer
- G-13
Flavor Profile
When smoked, XJ-13 has a flavor profile that combines citrus, earthy, sweet, and nasty skunk undertones. It&#39;s not hard to get in the US, but the average price per ounce is about $350.
<h3>4. White Fire OG</h3>
White Fire OG, also known as WiFi OG or WiFi Kush, is a hybrid strain with a 60% Indica and 40% Sativa composition. Bred from Fire OG and The White, this strain has become highly popular.
Strain Profile
- THC: 22% to 30%
- CBD: 1%
- Dominant Terpenes: Myrcene, Caryophyllene, Pinene, Limonene
Patients using White Fire OG report feeling emotionally uplifted, focused, energetic, and relaxed, making it ideal for daytime use.
<h3>Less Expensive Alternatives</h3>
- Jesus OG
- Tangerine Dream
- Jacky White
- The White
- White Wedding
<h3>Flavor Profile</h3>
White Fire OG offers a unique flavor profile, featuring sour citrus, spicy earth, and mellow herb notes. Some users note a peppery taste that can induce coughing. This strain can sometimes be found for less than $200 per ounce, though it typically sells for $400 to $600 per ounce.
<h3>Do Pricey Weed Strains Make Sense?</h3>
Finding therapeutic cannabis strains might seem endless for people with physically or mentally crippling diseases. Given their high price tags, it&#39;s reasonable to question whether the most costly strains in the world may provide greater benefits.
However, you don&#39;t need to use a&nbsp;<a href="https://cannabis.net/blog/medical/10-indica-high-thc-strains-for-making-rick-simpson-oil">high-THC strain</a>&nbsp;to achieve good results. Affordable alternatives are often available at your local dispensary. By doing some research and creating a list of high-quality, budget-friendly strains, you can find effective options. Additionally, consult with your local dispensary for recommendations tailored to your symptoms and wellness goals.
<h3>Bottom Line</h3>
Although some of the priciest cannabis strains command premium pricing due to their distinctive features, they aren&#39;t necessarily the greatest or the only method to get the desired benefits. Numerous reasonably priced substitutes can provide comparable advantages without the high cost. Through research and discussions with trained personnel at the dispensary, customers may choose affordable, premium strains that fulfill their demands for wellness and health. Regardless of price, the optimal strain is the one that successfully treats a patient&#39;s unique symptoms and preferences.
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

The 4 Most Expensive Cannabis Strains On The Market - And 4 Cheaper Ones That Are Just As Good

This article was originally published on<a href="https://cannabis.net/blog/opinion/the-rise-and-fall-of-pioneer-pot-markets-rip-california-and-colorado-cannabis-industries"> Cannabis.net</a> and appears here with permission.
When Colorado and Washington made history in 2012 as the first U.S. states to legalize recreational marijuana, they kicked off a green rush that rapidly transformed the cannabis industry. Colorado in particular saw a meteoric rise, with sales soaring to $2.2 billion in 2020 and the state raking in hundreds of millions in cannabis tax revenue. Some local entrepreneurs rode this wave to stunning success, building national brands from humble beginnings.
Fast forward to 2024 and the Rocky Mountain high has worn off. Colorado dispensaries that once couldn&#39;t keep up with demand now sit shuttered. Statewide sales have plummeted over 30% from their peak. While still a sizable market, the trailblazing industry that put Colorado on the cannabis map is now a cautionary tale.
1,200 miles to the west, California - the country&#39;s largest legal weed market - is facing its own reckoning. Despite the Golden State&#39;s legendary cannabis culture and ideal growing climate, many legitimate operators are struggling to stay afloat. But while Colorado&#39;s crash stems from market saturation and competition from newly legal neighbors, California&#39;s decline has more to do with over-taxation enabling the tenacious black market to undercut legal businesses.
As more and more states jump on the legalization bandwagon, policymakers are looking to these early adopters to understand how to establish a stable and sustainable cannabis sector. In this article, we&#39;ll unpack the factors behind the slumping sales in Colorado and California, and explore what lessons emerging marijuana markets can take away to avoid the same pitfalls. The great American pot experiment is far from over.
<h3>The Colorado Conundrum</h3>
Colorado&#39;s cannabis industry, once a roaring success story, has fallen on hard times. According to a&nbsp;<a href="https://www.politico.com/news/magazine/2024/06/09/colorado-weed-market-00157118">recent Politico article</a>, statewide marijuana sales have plunged from a high of $2.2 billion in 2020 to just $1.5 billion in 2023 - a jaw-dropping&nbsp;<a href="https://cannabis.net/blog/news/colorado-cannabis-sales-hit-a-new-low-not-seen-since-february-of-2017-the-cannibalization-of-th">decline of over 30% in just three years</a>. This has led to widespread layoffs, business closures, and a lot of nervous industry stakeholders.
So what&#39;s behind this Rocky Mountain revenue recession? Industry insiders point to a perfect storm of factors. &quot;It&#39;s like the wind in our cannabis sails in Colorado has just been sucked all the way out,&quot; laments Wanda James, founder of Denver dispensary Simply Pure.
A key culprit is the very success that Colorado pioneered - the spread of legalization to neighboring states like New Mexico and Arizona, which has siphoned off customers. &quot;We&#39;re a victim of our own success,&quot; explains Jordan Wellington, a partner at Denver-based cannabis policy firm Strategies 64. &quot;New markets drawing investment away, new markets drawing purchasing away &mdash; all of these different things combined into the soup of the challenges [facing] Colorado.&quot;
Businesses have had to adapt to this new reality in different ways. Some, like Dank Dispensary in Denver, have had to cut back on employee perks and parties. Others, like Southern Colorado retailer Maggie&#39;s Farm, have shuttered multiple locations.
<a href="https://cannabis.net/blog/news/70420-a-year-to-smoke-weed-all-day-and-post-about-it-would-you-apply-to-this-new-job-opening">Cannabis jobs</a>&nbsp;in the state have plummeted 16% in the past year alone, according to a report from Vangst.
But while painful, this market contraction is a natural evolution for maturing cannabis markets, explains Beau Whitney of Whitney Economics. &quot;Initially, supply is low and profits are high, which draws in new businesses. As supply and consumer access catch up, prices drop.&quot;
&nbsp;As more states legalize, Whitney predicts this&nbsp;<a href="https://cannabis.net/blog/news/the-race-to-the-bottom-continues-colorados-medical-marijuana-sales-reach-new-lows">boom-and-bust pattern will ease and interstate prices</a>&nbsp;will normalize.
In the meantime, Colorado businesses are adjusting to compete in a crowded and dynamic market. Denver dispensary Simply Pure saw sales spike 60% during the COVID-19 lockdowns, only to come crashing down when cultivators ramped up production.[1] &quot;The only problem &hellip; for a long time was that there was never enough weed,&quot; recalls Jon Spadafora, CEO of wholesale cultivator Veritas Fine Cannabis. &quot;We all overestimated the market. We all believed a little bit too much of our own PR.&quot;
Veritas has since downsized from 144 employees to just 21.
This thinning of the herd is inevitable as the industry matures and stabilizes. But those businesses that are able to adapt and ride out the turbulence could be well-positioned for the next chapter of Colorado&#39;s cannabis story.
As more states enter the legal fray, Colorado&#39;s hard-won experience and expertise could prove invaluable. The green rush may be over, but the Centennial State&#39;s influence is sure to endure.
<h3>The California Cannabis Conundrum</h3>
While Colorado&#39;s cannabis market struggles are largely due to increased competition and market saturation, California&#39;s industry woes stem from a different root cause: overtaxation. Despite high hopes that legalization would cripple the illicit market, California&#39;s hefty tax rates have instead enabled illegal operators to continue undercutting legal businesses.
<a href="https://cannabis.net/blog/news/could-californias-pot-taxes-reach-45">California imposes some of the steepest cannabis taxes</a>&nbsp;in the country, with rates up to 40% in some jurisdictions when state and local levies are combined.[1]
This has kept prices for legal products artificially inflated compared to the illicit market. &quot;The tax rate is way too high,&quot; argues Javier Montes, owner of Wilmington dispensary Delta-9 THC. &quot;People got used to the black market, and then they were supposed to transition to the legal market, but there&#39;s no incentive to.&quot;[2]
This over-taxation has effectively acted as &quot;prohibition 2.0&quot;, allowing illegal grow operations and unlicensed dispensaries to thrive. Ironically, this has attracted an unexpected player: Chinese organized crime.
While Mexican cartels have largely pivoted to more profitable hard drugs like fentanyl,&nbsp;<a href="https://cannabis.net/blog/news/do-the-chinese-really-run-the-illicit-weed-market-in-america">Chinese drug trafficking organizations</a>&nbsp;have moved in to exploit the lucrative California cannabis black market.[3] Authorities have busted numerous large-scale Chinese grow operations hidden in suburban homes in recent years.[4]
But taxation is far from the only issue plaguing California&#39;s legal cannabis industry. The state&#39;s onerous and costly regulations have created immense barriers to entry for legal businesses. Lengthy licensing processes, restrictive zoning laws, and expensive compliance requirements have kept many legacy operators from transitioning to the legal market.[5] This has perpetuated the illicit industry, as many longtime growers and sellers see little benefit in going legit.
Furthermore, California&#39;s patchwork of local cannabis laws has created a confusing and inconsistent market landscape. While the state legalized recreational use in 2016, municipalities can still ban cannabis businesses outright. As of 2022, fewer than 40% of California cities and counties allowed any type of legal cannabis operation.[6] This has left large swaths of the state underserved by legal operators and ripe for illicit activity.
These factors have led to a California cannabis market that is far underperforming its potential. Despite having nearly twice the population of Colorado, California&#39;s legal sales in 2022 were only moderately higher at around $5.3 billion.[7] For the state to fully realize the promise of cannabis legalization, policymakers will need to overhaul the current tax and regulatory scheme to support licensed businesses and motivate illicit operators to transition to the legal market. Until then, California&#39;s cautionary tale will continue.
SOURCES:
[1]&nbsp;<a href="https://taxfoundation.org/state-cannabis-taxes-2022/">https://taxfoundation.org/state-cannabis-taxes-2022/</a>
[2]&nbsp;<a href="https://www.latimes.com/california/story/2022-12-20/california-cannabis-industry-layoffs">https://www.latimes.com/california/story/2022-12-20/california-cannabis-industry-layoffs</a>
[3]&nbsp;<a href="https://www.latimes.com/california/story/2022-07-19/california-marijuana-china-cartels">https://www.latimes.com/california/story/2022-07-19/california-marijuana-china-cartels</a>
[4]&nbsp;<a href="https://www.justice.gov/usao-edca/pr/federal-and-local-law-enforcement-shut-down-over-50-illegal-marijuana-grows-and-seize">https://www.justice.gov/usao-edca/pr/federal-and-local-law-enforcement-shut-down-over-50-illegal-marijuana-grows-and-seize</a>
[5]&nbsp;<a href="https://mjbizdaily.com/obstacles-to-enter-california-legal-cannabis-market-remain-daunting-for-legacy-operators/">https://mjbizdaily.com/obstacles-to-enter-california-legal-cannabis-market-remain-daunting-for-legacy-operators/</a>
[6]&nbsp;<a href="https://www.northbaybusinessjournal.com/article/industry-news/majority-of-california-municipalities-ban-commercial-cannabis-how-that-aff/">https://www.northbaybusinessjournal.com/article/industry-news/majority-of-california-municipalities-ban-commercial-cannabis-how-that-aff/</a>
[7]&nbsp;<a href="https://www.politico.com/news/2021/10/23/california-legal-illicit-weed-market-516868">https://www.politico.com/news/2021/10/23/california-legal-illicit-weed-market-516868</a>
<h3>Lessons Learned: Building A&nbsp;Sustainable Cannabis Market</h3>
As more states consider cannabis legalization, policymakers would be wise to study the cautionary tales of Colorado and California. These pioneering markets offer valuable lessons on what works &ndash; and what doesn&#39;t &ndash; when it comes to crafting a successful and sustainable cannabis industry.
First and foremost, states must resist the temptation to overtax the newly legal market. While cannabis may seem like a cash cow for revenue-hungry governments, excessive taxation can backfire by perpetuating the illicit market.
California&#39;s punitive tax rates, reaching up to 40% in some areas[1], have kept illegal operators in business and undercut the very legal industry the state is trying to foster. Policymakers should instead aim for a tax sweet spot &ndash; high enough to generate meaningful revenue, but low enough to motivate illicit operators to transition to the legal market.
Secondly, regulations must be designed with an eye toward fairness and equity. Overly burdensome licensing requirements, zoning restrictions, and compliance costs can shut out smaller operators and communities disproportionately impacted by the War on Drugs.
Equity must be baked into the framework of the legal market from day one, with measures like expedited licensing for legacy operators, fee waivers for social equity applicants, and reinvestment of cannabis tax revenue into hardest-hit neighborhoods.
By lowering barriers to entry and providing support, states can create an inclusive industry that benefits a broad range of stakeholders.
Finally, policymakers should embrace the free market&#39;s ability to self-correct. As Colorado&#39;s story illustrates, the invisible hand is already at work balancing supply and demand in maturing cannabis markets.
While the industry&#39;s growing pains have been undeniably painful, with layoffs and closures roiling the once-booming market, this contraction is a natural stage in the evolution of a new sector.
As Beau Whitney of Whitney Economics notes, &quot;As more states legalize, Whitney predicts this boom-and-bust pattern will ease and interstate prices will normalize.&quot;[2] By allowing market forces to weed out inefficiencies and reward innovation, states can cultivate a leaner, more resilient cannabis industry.
Of course, the cannabis industry is still in its infancy, and there will undoubtedly be more lessons to learn as legalization spreads.
But by heeding the hard-won wisdom of trailblazers like Colorado and California &ndash; keeping taxes reasonable, prioritizing equity, and letting the market work &ndash; states can lay the foundation for a cannabis industry that is built to last. The road may be rocky, but with smart, forward-thinking policy, the future of legal cannabis is bright.
SOURCES:
[1]&nbsp;<a href="https://taxfoundation.org/state-cannabis-taxes-2022/">https://taxfoundation.org/state-cannabis-taxes-2022/</a>
[2]&nbsp;<a href="https://www.politico.com/news/2023/06/09/colorado-cannabis-market-crash-cautionary-tale-00101170">https://www.politico.com/news/2023/06/09/colorado-cannabis-market-crash-cautionary-tale-00101170</a>
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

The Rise And Fall Of Pioneering Weed Markets: RIP California And Colorado Cannabis Industries

Financial anxiety is not a new concept—many people struggle with how to spend their money, <a href="https://www.benzinga.com/money/retirement-planning-guide">save for retirement</a>, and manage their finances. One term that encompasses all of this is ‘money dysmorphia.'&nbsp;
So, what is money dysmorphia?&nbsp;
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"Money dysmorphia is when you have a warped or distorted view of your finances," Danielle Desir, a personal finance expert and host of "The Thought Card" podcast, told HuffPost. "You see your financial situation much differently from your reality. Money dysmorphia can be caused by a variety of reasons, including past money trauma, societal pressures, economic crisis, or could be deeply rooted in childhood upbringing."
A recent Credit Karma study shows that 29% of Americans experience money dysmorphia, and the problem is much greater for younger generations. About 43% of Gen Z and 41% of Millennials experience money dysmorphia, compared to 25% of Gen X and 14% of Boomers.&nbsp;
Elizabeth Ayoola, a personal finance writer at NerdWallet, told HuffPost that those with money dysmorphia often view their finances subjectively rather than objectively. This skewed perception can manifest in several ways:
<ul>
<li>Saving excessively: Some people may save excessively because they feel they are falling behind their peers.</li>
<li>Overspending: This becomes a problem for people who feel they are more financially secure than they are. </li>
<li>Strong emotional reactions: Experiencing anxiety, sadness, frustration, or unworthiness when confronted with friends' financial milestones can be a sign of money dysmorphia, especially when it leads to unnecessary spending. </li>
<li>Lifestyle choices: People may live lifestyles they can't afford, or conversely, may be financially secure but deny themselves enjoyment because they think they don't have enough. </li>
<li>Obsessive behaviors: Constantly checking bank balances, avoiding discussing finances, comparing oneself to others, and feeling guilty about necessary purchases are common among people with money dysmorphia. </li>
</ul>
<hr class="wp-block-separator has-alpha-channel-opacity" />
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<hr class="wp-block-separator has-alpha-channel-opacity" />
Social media has not helped the issue. When people share the parts of their lives that appear more extravagant, it evokes a sense of needing to "keep up with the Joneses." Seeing the seemingly perfect lives of others can skew one's perception of their finances.&nbsp;
Another reason for many struggling with money dysmorphia is this obsession with being rich. Credit Karma says that 27% of Americans are obsessed with the idea of being rich, and of those with money dysmorphia, 54% are obsessed with wanting to be rich.&nbsp;
Courtney Alev, a consumer financial advocate at Credit Karma, says there are a few ways individuals can overcome money dysmorphia:&nbsp;
<ul>
<li>Take an honest look at your finances.</li>
<li>Set clear goals.</li>
<li>Make a plan.</li>
<li>Stop comparing yourself to others.</li>
</ul>
"If your goal is to build up your savings," she says, "start by doing an audit of your finances to see where in your budget you can make room for savings. From there, you can schedule automatic payments from each paycheck to help hold you accountable and incrementally increase your savings."&nbsp;
Addressing money dysmorphia requires a blend of self-awareness, education, and sometimes even professional guidance. Recognizing these signs in yourself is the first step toward reclaiming a healthier relationship with finances. Whether saving excessively, overspending, or constantly comparing your financial situation to others, seeking support from a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can provide invaluable perspective and practical strategies tailored to your individual needs.
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You May Be Suffering From 'Money Dysmorphia' — Almost One-Third Of Americans Are And Here's Why

President <a href="https://www.benzinga.com/news/24/06/39543594/biden-vs-trump-flash-poll-picks-debate-winner-but-over-one-third-of-voters-doubt-his-ability-to-lead">Joe Biden is widely considered to be the loser in the first presidential debate</a> that was held Thursday night but Donald Trump&#8217;s niece Mary Trump went on to make the case that the incumbent could still be a better bet for America.
Style Over Substance? If the winner is decided based on honesty, policy, a vision for America and the defense of democracy, Donald Trump could have had a &#8220;apocalyptically disastrous&#8221; debate, said Mary Trump in a substack<a href="https://marytrump.substack.com/p/why-im-still-with-president-biden?utm_source=post-email-title&amp;publication_id=559646&amp;post_id=146097621&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=rkloa&amp;triedRedirect=true&amp;utm_medium=email"> post. </a>&#8220;But if we're only going to count style over substance, I'll take hoarse and halting over hate-filled and unhinged every day of the week,&#8221; she said.
Choosing Donald Trump over Biden would be to reward &#8220;cruelty, incompetence, and mendacity while punishing empathy, accomplishment, and experience,&#8221; Mary Trump, a psychologist said.
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Aided By Moderators: Donald Trump was empowered by the debate moderators to &#8220;steamroll the truth with an incessant stream of increasingly bizarre and dangerous lies,&#8221; she added. She noted that her uncle went onto say he not<a href="https://www.benzinga.com/general/biotech/22/04/26419176/house-passes-bill-to-cap-out-of-pocket-insulin-costs-to-no-more-than-35month"> Biden instituted a cap on insulin, </a>that blue states allow women and their doctors to commit infanticide, and that Nancy Pelosi was somehow responsible for January 6th.
Mary Trump questioned as to why the moderators Jake Tapper and Dana Bash chose to &#8220;abdicate their journalistic responsibility in service to a man who is an enemy of American democracy and a free press.&#8221; 
The moderators focused on immigration, inflation, Biden&#8217;s age, hostility toward the allies of U.S., and embracement of authoritarian dictators, she said. They did not steer the debate toward Donald Trump&#8217;s 34 felony convictions, his incitement of insurrection and refusal to accept the results of a free and fair election, she added.
&#8220;My uncle is a cruel and fundamentally dishonest man, a criminal and a traitor,&#8221; Mary Trump said.
&#8220;He deserves no praise for lying forcefully or denigrating America with vigor or laying out a dystopian vision of American in which basic human rights are stripped from millions of women just because he did so with crystal clearly.&#8221;
The debate, Mary Trump said, showed &#8220;Biden is a human being who has his off days while my uncle is awful every day.&#8221; 
&#8220;I'll take the decent guy with the sore throat who believes in democracy over the rapist insurrectionist monster every single time.
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Trump's Niece Says Ex-President Had 'Apocalyptically Disastrous' Debate: 'Deserves No Praise For Lying Forcefully Or Denigrating America'

The 2024 Bank of America Private Bank Study of Wealthy Americans reveals that Generation Z and Millennial investors are increasingly turning to alternative investments, moving away from <a href="https://www.benzinga.com/markets/bonds">traditional stocks and bonds.</a>
The study, which surveyed 1,007 U.S. high-net-worth individuals with at least $3 million in investable assets, found that 72% of investors aged 21-43 believe it&#8217;s no longer feasible to achieve above-average returns solely through traditional equities and bonds, according to <a href="https://www.planadviser.com/younger-high-net-worth-investors-seek-alternative-investments/">planadviser</a>. This contrasts sharply with only 28% of investors over 44 who share this view.
Younger investors have significantly lower exposure to stocks and bonds (47%) compared to their older counterparts (74%). Instead, they allocate 17% of their portfolios to alternatives, versus just 5% for older investors. An overwhelming 93% of younger investors plan to increase their alternative investments in the coming years.
The survey highlights diverse interests among younger investors:
<ul>
<li>49% already hold cryptocurrencies, with 38% interested in acquiring them</li>
<li>Real estate investments are seen as offering the best growth prospects</li>
<li>45% physically hold gold, with another 45% interested in doing so</li>
</ul>
Aaron Filbeck, managing director and head of Unifi by CAIA Association, attributes this trend to recent market volatility and the growing opportunity in private markets. He notes that venture-backed companies are staying private longer, and banks are retreating from small and medium-sized business lending, creating new investment opportunities.
The CAIA&#8217;s report, &#8220;Crossing the Threshold,&#8221; suggests a &#8220;second phase of democratization&#8221; in alternative investments, with improved technology and access points enabling a wider range of investors to participate in private market products.
However, Filbeck cautions plan sponsors and advisers to carefully consider the implementation of alternatives, especially in 401(k) plans, due to liquidity, fee, and complexity issues. He encourages an open-minded approach, particularly for younger investors far from retirement, while emphasizing the importance of risk management and due diligence.
The growing interest in alternatives among younger high-net-worth investors signals a potential shift in long-term investment strategies and portfolio construction, something advisors should pay close attention to.
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Recent court filings reveal that the estate of pop legend Michael Jackson was in debt to the tune of over $500 million at the time of his death in 2009.
What Happened: Documents filed in Los Angeles on June 21 and later obtained <a href="https://people.com/michael-jackson-was-over-usd500-million-in-debt-at-time-of-death-new-court-documents-reveal-8670327">by</a> People magazine last week showed that Jackson owed this massive sum to more than 65 creditors. The filings also disclosed that the late singer had multiple lawsuits pending worldwide.
The executors of Jackson&#8217;s estate renegotiated and restructured financing arrangements to manage the debts. This included a $750 million deal with Sony over music publishing rights for several artists, which allowed Sony to acquire Sony/ATV. According to People, despite these efforts, the estate still owes a significant amount of money.
The documents also indicate a pending final decision on a victory in a 2021 court battle with the IRS. Jackson's three children, the beneficiaries of his estate, are currently blocked from receiving money from their trust until the IRS dispute is resolved.
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In February, Sony Music reportedly purchased Jackson's music catalog for at least $600 million, injecting more funds into the estate. The Los Angeles Times previously reported that Jackson&#8217;s excessive spending habits largely contributed to his significant debt.
Why It Matters: The Jackson estate&#8217;s financial woes are a stark reminder of the late pop star&#8217;s tumultuous financial history. Despite his immense success and earnings, Jackson&#8217;s lavish lifestyle and spending habits led to mounting debts, which his estate has been grappling with since his death.
The estate&#8217;s efforts to manage these debts, including the $750 million deal with Sony, have been significant. However, the ongoing legal battles and unresolved IRS issues continue to hamper the estate&#8217;s ability to clear the debts and distribute the inheritance to Jackson&#8217;s children.
The purchase of Jackson&#8217;s music catalog by Sony Music provided a much-needed financial boost to the estate. Still, it remains to be seen how the estate will navigate the remaining financial challenges and fulfill its obligations to the creditors and beneficiaries.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Michael Jackson Faced Over $500 Million Worth Of Debt At Time Of Death, Filings Show

Rekt Capital, a well-known crypto strategist, has issued a warning about a potential further correction for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39562507/peter-schiff-says-things-will-likely-get-much-worse-from-here-for-bitcoin-investors">suggesting a possible drop</a> to $55,000.
What Happened: The analyst, who has previously accurately predicted Bitcoin&#8217;s pre-halving pullback, recently stated that the cryptocurrency could correct to much lower levels.
In a YouTube <a href="https://www.youtube.com/watch?v=SMgaKRZtCXg">video</a> over the weekend, Rekt Capital speculated, &#8220;What if we were going see a deepest correction in the cycle, or at least equal to the deepest correction in the cycle of 23.8%? That would see us go to $55,000.&#8221;
However, he also suggested that a deeper drawdown is unlikely at this point in the cycle, and that Bitcoin has either already hit a local bottom or is experiencing a more shallow pullback. 
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"Is that a possibility that we see the deepest correction not too long after already seeing the deepest correction this cycle just after the halving? That was around late April, early May. We saw a record-breaking deep correction in this cycle. We eclipsed the early 2023 pullback, and it took a year and a half for that new record to come in,&#8221; the analyst said. 
&#8220;So to now talk about another record and another deep retrace occurring only a month-and-a-half later, I think that's a little bit too farfetched. I don't think we're going to eclipse that retrace depth for the deepest retrace in this cycle. I think it would be either this being the bottom already or a slight additional pullback,&#8221; he added.
At the time of writing, Bitcoin was trading for $61,376.35, down by almost 5% in the last seven days. .
Why It Matters: This prediction comes in contrast to the recent forecast by former Goldman Sachs executive Raoul Pal. Pal anticipated a significant surge in Bitcoin and the overall crypto market in the fourth <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39447599/raoul-pal-foresees-crypto-boom-in-election-years-q4-names-it-banana-zone">quarter of the presidential election year.</a>
He stated that risk assets like Bitcoin typically experience rallies during Q4 of an election year, referring to this period as the &#8220;banana zone.&#8221; These contrasting views highlight the volatility and unpredictability of the cryptocurrency market.
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$BTC

Bitcoin May Face Another Correction, Dropping To $55,000, Predicts Crypto Analyst

Former U.S. President Donald Trump has experienced a series of political triumphs this week, following President Joe Biden&#8216;s lackluster performance in their inaugural debate <a href="https://www.benzinga.com/news/24/06/39241154/trump-vs-biden-hush-money-conviction-signals-good-news-for-one-candidate-in-tight-presidential-race">and two positive Supreme Court rulings. </a>
What Happened: Despite facing criticism for his own debate performance, Trump managed to capitalize on Biden&#8217;s apparent memory lapses and strained voice, which have raised concerns about the 81-year-old president&#8217;s health. Trump&#8217;s sharp retorts during the debate have caused unease among Democrats.
&#8220;Trump is benefiting only in the sense that Biden did not benefit,&#8221; Christian Grose, a professor of political science and public policy at the University of Southern California, <a href="https://www.businessinsider.com/donald-trump-wracks-up-wins-biden-debate-supreme-court-2024-6">told</a> Business Insider.
Grose, however, pointed out that the majority of voters have already made up their minds and Biden&#8217;s poor performance is unlikely to convince Democrats to switch sides.
In a development that occurred less than 24 hours after the debate, the Supreme Court overturned the Chevron doctrine, a decision that conservatives have long championed, and reduced charges for several individuals involved in the Jan. 6, 2021 riots. Both rulings are perceived as victories for Trump, who appointed three conservative justices during his tenure.
Also Read: <a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There&#8217;s One Silver Lining</a>
However, Grose warned that these wins could potentially harm Trump&#8217;s campaign by reminding voters of the Supreme Court&#8217;s conservative shift under his administration. 
Additionally, Trump&#8217;s refusal to accept responsibility for his actions could deter undecided voters, particularly if the Supreme Court grants him extensive immunity.
&#8220;We just have to wait and see how the polls shake out,&#8221; Grose added.
Why It Matters: The recent events have undoubtedly given Trump a political boost, but whether this momentum will translate into electoral gains remains to be seen. 
The Supreme Court&#8217;s rulings and Biden&#8217;s debate performance could potentially influence public opinion and shape the political landscape in the lead-up to the next election. However, as Grose pointed out, most voters have already made up their minds, and these developments may not significantly alter the political dynamics. 
The impact of these events on Trump&#8217;s political fortunes will become clearer as the polls unfold.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti" target="_blank" rel="noreferrer noopener">Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Outside Last Week's Debate, Trump Gained Momentum With Two Major Supreme Court Developments — For Better Or Worse

The week was buzzing with major tech news, with artificial intelligence (AI) taking center stage. From potential partnerships to analyst upgrades and deepfake concerns, here&#8217;s a round-up of the top stories that made headlines.
Meta Eyes Apple&#8217;s AI
Reports surfaced over the weekend that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are in talks about a potential AI partnership. Wedbush Securities analyst Dan Ives shared his insights, stating that Meta&#8217;s interest lies in integrating its generative AI model into Apple&#8217;s new AI system, Apple Intelligence.
<a href="https://www.benzinga.com/news/24/06/39471487/dan-ives-says-the-golden-goose-for-meta-is-apple-intelligence-right-now-youre-on-the-outside-of-this">Read the full article here</a>.
Apple&#8217;s AI Initiatives Impress Analysts
Rosenblatt analyst Barton Crockett upgraded shares of Apple from Neutral to Buy, raising the price target from $196 to $260. This bullish stance comes on the heels of Apple&#8217;s AI initiatives showcased at the company&#8217;s Worldwide Developers Conference earlier this month.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39503743/apple-to-gain-market-share-with-ai-smartphone-says-bullish-analyst-skate-to-where-t">Read the full article here</a>.
See Also: <a href="https://www.benzinga.com/news/24/06/39515667/jeff-bezos-doubled-productivity-at-amazon-in-its-infancy-by-simply-buying-a-table-the-most-brilliant?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Doubled Productivity At Amazon In Its Infancy By Simply Buying A Table</a>
Deepfakes and the Future of Reality
Twitter co-founder and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO, Jack Dorsey, warned about the increasing difficulty in distinguishing between reality and fabrication due to the proliferation of deepfakes. He made these remarks at the Festival of the Sun, an event curated by producer Rick Rubin.
<a href="https://www.benzinga.com/news/24/06/39449884/twitter-co-founder-jack-dorsey-thinks-deepfakes-are-taking-us-toward-a-simulated-future-elon-musk-as">Read the full article here</a>.
AI Safety Remains a Priority for Anthropic&#8217;s CEO
Dario Amodei, CEO of Anthropic, an AI startup backed by Alphabet Inc.'s Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Jeff Bezos' Amazon.com Inc., reaffirmed his commitment to AI safety, irrespective of the 2024 elections outcome. He expressed his intentions to work with the next president to ensure AI safety and stay ahead of adversaries in this technology.
<a href="https://www.benzinga.com/news/24/06/39450394/whether-donald-trump-wins-election-or-joe-biden-jeff-bezos-backed-anthropics-ceo-says-my-message-is">Read the full article here</a>.
Arm Holdings CEO on the Rapid Growth of AI
Rene Haas, CEO of SoftBank Group subsidiary Arm Holdings, believes that analysts have underestimated the pace at which AI is advancing. He pointed out that AI will significantly change people's lives and that 70% of the world's devices use Arm chips, positioning the company well in the AI race.
<a href="https://www.benzinga.com/markets/equities/24/06/39470998/arm-holdings-ceo-rene-haas-says-experts-underestimated-the-rapid-growth-of-ai-the-analysts-maybe">Read the full article here</a>.
Read Next: <a href="https://www.benzinga.com/news/24/06/39494097/chatgpt-parent-openai-to-block-access-to-ai-tools-amid-growing-tech-tensions-between-washington-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">ChatGPT-Parent OpenAI To Block Access To AI Tools Amid Growing Tech Tensions Between Washington And Beijing</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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Apple's AI Initiatives Impress Analysts, Meta Eyes Apple Intelligence, Arm Holdings CEO On Rapid Growth Of AI And More: This Week In AI

The past week has been a rollercoaster for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a mix of potential partnership rejections, health accusations, and product leaks making headlines. Here&#8217;s a quick recap of the top stories involving the tech giant.
Apple Rejects Meta&#8217;s AI Integration Proposal
Despite initial discussions in March, Apple has reportedly declined Meta Platforms Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) proposal to incorporate its AI chatbot, Llama, into the iPhone. The decision was partially due to Apple&#8217;s concerns about Meta&#8217;s privacy practices, according to Bloomberg.
<a href="https://www.benzinga.com/news/24/06/39470144/apple-reportedly-said-no-to-metas-offer-for-iphone-ai-integration-due-to-privacy-policy-concerns">Read the full article here.</a>
Former Employee Accuses Apple of Chemical Exposure
Ashley Gjovik, a former Apple employee, has accused the company of exposing her to hazardous chemicals from a secret chip manufacturing facility, leading to severe health issues. The Environmental Protection Agency (EPA) reportedly found 19 potential violations of regulations by Apple at the Santa Clara site.
<a href="https://www.benzinga.com/news/24/06/39470644/former-apple-employee-claims-she-nearly-died-due-to-chemical-exposure-from-secret-chip-plant-i-tippe">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39467166/dan-ives-says-apple-stock-is-headed-to-300-tim-cook-could-claim-godfather-of-ai-tit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dan Ives Says Apple Stock Is Headed To $300, Tim Cook Could Claim &#8216;Godfather Of AI&#8217; Title</a>
Meta&#8217;s &#8216;Golden Goose&#8217; is Apple Intelligence
Wedbush Securities analyst Dan Ives has shared his insights on the potential AI partnership between Apple and Meta. According to Ives, Meta&#8217;s primary interest in the partnership is to penetrate the Apple layer, similar to OpenAI, to tap into Cupertino's significant consumer base.
<a href="https://www.benzinga.com/news/24/06/39471487/dan-ives-says-the-golden-goose-for-meta-is-apple-intelligence-right-now-youre-on-the-outside-of-this">Read the full article here.</a>
Apple Watch X Rumored to Feature Largest Display Yet
Leaked images of the rumored Apple Watch X or Series 10 suggest a larger display and a thinner case. The device is reportedly larger than the current Series 9 but smaller than the Ultra.
<a href="https://www.benzinga.com/news/24/06/39518145/apple-watch-x-cupertinos-special-10th-anniversary-edition-to-reportedly-feature-largest-display-yet">Read the full article here.</a>
Apple&#8217;s Plan to Reduce Assembly Workforce Faces Setback
Apple&#8217;s plan to cut its iPhone assembly workforce by up to 50% over the next few years is reportedly facing challenges due to precision issues. The decision to favor automation over human workers is partly influenced by the supply chain disruptions and delays caused by the COVID-19 pandemic.
<a href="https://www.benzinga.com/news/24/06/39474703/tim-cooks-goal-to-slash-assembly-workers-by-up-to-50-faces-setback-apple-reportedly-facing-precision">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39503743/apple-to-gain-market-share-with-ai-smartphone-says-bullish-analyst-skate-to-where-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple To Gain Market Share With AI Smartphone, Says Bullish Analyst: &#8216;Skate To Where The AI Puck Is Going</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Apple Rejects Meta's AI Integration Proposal, Ex-Employee Accuses iPhone-Maker Of Chemical Exposure And More: This Week In Appleverse

Divine And Duffy Of U.S. News On Real Estate And REITs Outlook

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