Latest news for Adcore (OTC:ADCOF) Stock

Adcore Inc is a provider of machine-learning-powered advertising technologies used by digital advertisers to enhance and maximize their Search Engine Marketing (SEM). It offers various products and services such as SEMDoc, Feeditor, and ADCORE Views. The company serves retail; travel; financial; food; education and other industries. It provides a solution to small and large agencies and direct advertisers. The Company and its subsidiaries are engaged in the following segments: AdTech which is an e-commerce advertising management and automation platform. EdTech is a marketplace for live classes, connecting and enriching humanity through knowledge.

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Adcore Bags Contract From This Australia-Based Education Marketing Firm

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DexCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) has outperformed the market over the past 5 years by 11.92% on an annualized basis producing an average annual return of 25.21%. Currently, DexCom has a market capitalization of $45.21 billion. 
Buying $1000 In DXCM: If an investor had bought $1000 of DXCM stock 5 years ago, it would be worth $3,122.92 today based on a price of $113.69 for DXCM at the time of writing.
<h3>DexCom's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720211416_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

DXCM

Here's How Much You Would Have Made Owning DexCom Stock In The Last 5 Years

Modine Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) has outperformed the market over the past 10 years by 10.43% on an annualized basis producing an average annual return of 21.38%. Currently, Modine Manufacturing has a market capitalization of $5.60 billion. 
Buying $1000 In MOD: If an investor had bought $1000 of MOD stock 10 years ago, it would be worth $6,858.79 today based on a price of $106.95 for MOD at the time of writing.
<h3>Modine Manufacturing's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720211411_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Modine Manufacturing 10 Years Ago Would Be Worth This Much Today

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/MJNE">MJ Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MJNE#OTC">MJNE</a>) shares closed up 36.54% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/KAYS">Kaya Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KAYS#OTC">KAYS</a>) shares closed up 22.37% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/MGWFF">Maple Leaf Green World</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGWFF#OTC">MGWFF</a>) shares closed up 11.47% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/CWBHF">Charlottes Web Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTC">CWBHF</a>) shares closed up 11.19% at $0.18</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed up 6.91% at $0.07</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed up 6.51% at $0.28</li>
<li><a href="https://www.benzinga.com/quote/EAST">Eastside Distilling</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) shares closed up 4.21% at $1.00</li>
<li><a href="https://www.benzinga.com/quote/MXC">Mexco Energy</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MXC#AMEX">MXC</a>) shares closed up 3.51% at $11.86</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/KHRNF">Khiron Life Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KHRNF#OTC">KHRNF</a>) shares closed down 99.00% at $1e-06</li>
<li><a href="https://www.benzinga.com/quote/FLWPF">The Flowr</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FLWPF#OTC">FLWPF</a>) shares closed down 99.00% at $1e-06</li>
<li><a href="https://www.benzinga.com/quote/RSSFF">Affinor Growers</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RSSFF#OTC">RSSFF</a>) shares closed down 45.18% at $0.09</li>
<li><a href="https://www.benzinga.com/quote/FUAPF">Global Compliance</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUAPF#OTC">FUAPF</a>) shares closed down 42.22% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CNGGF">Cann Gr</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNGGF#OTC">CNGGF</a>) shares closed down 34.91% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/BBRRF">Blueberries Medical</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBRRF#OTC">BBRRF</a>) shares closed down 27.56% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CBDY">Target Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBDY#OTC">CBDY</a>) shares closed down 24.65% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/GBHPF">Global Hemp Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBHPF#OTC">GBHPF</a>) shares closed down 23.00% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed down 13.25% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed down 9.82% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed down 9.02% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Props</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed down 8.48% at $0.60</li>
<li><a href="https://www.benzinga.com/quote/CBWTF">Auxly Cannabis Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) shares closed down 5.86% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed down 5.60% at $0.12</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed down 5.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed down 3.88% at $2.23</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed down 3.65% at $2.11</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 3.36% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/YCBD">cbdMD</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) shares closed down 3.31% at $0.56</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Bearish Sentiment Across The Cannabis Space - Check Full Movers For July 5, 2024

Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAC#NYSE">PAC</a>, BMV:<a class="ticker" href="https://www.benzinga.com/stock/GAP#BMV">GAP</a>) ("the Company" or "GAP") announces preliminary terminal passenger traffic figures for June 2024, compared with June 2023. &nbsp;
For June 2024, the total number of terminal passengers at GAP's 12 Mexican airports decreased by 2.1%, compared to June 2023. Puerto Vallarta and Guadalajara airports presented an increase in passenger traffic of 0.7% and 0.5%, respectively, while Tijuana and Los Cabos airports presented a decrease in passenger traffic of 5.8% and 0.4% respectively, compared to June 2023. On the other hand, Montego Bay presented a decrease in passenger traffic of 0.2%.

BMV:GAP

Grupo Aeroportuario del Pacifico Reports In June 2024 Passenger Traffic Decreased 1.9% Compared To June 2023

In a bid to support pro-crypto candidates in the upcoming U.S. Senate elections, crypto investment firm Multicoin Capital announced Friday it will match donations made in Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) tokens to the Sentinel Action Fund up to $1 million over the next 10 days.
&#8220;Over the next 10 days, Multicoin Capital will match all SOL donations to Sentinel Action Fund up to $1 million in value,&#8221; Multicoin Capital partner Kyle Samani <a href="https://x.com/KyleSamani/status/1809238868605988959">said.</a>
The Sentinel Action Fund (SAF) is a political action committee (PAC) dedicated to electing pro-crypto candidates to the U.S. Senate.
Under the help of Jessica Anderson, the SAF&#8217;s focus is on backing conservative candidates who advocate for responsible crypto innovation in America.
Multicoin Capital's matching initiative is designed to amplify the impact of contributions. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39650211/decentralized-exchange-pancakeswap-airdrops-367-000-in-zk-tokens">Decentralized Exchange PancakeSwap Airdrops $367,000 In ZK Tokens</a>
This initiative aims to double the impact of each contribution, supporting the Sentinel Action Fund's mission to increase the number of pro-crypto senators like Senator Bill Hagerty (R-TN) .
Highlighting the importance of political engagement, Samani stated, &#8220;We realize that political engagement matters, and it starts with supporting the candidates who believe America needs to remain free for innovation.&#8221; 
He emphasized the need for elected leaders who understand the crypto industry and can advocate for good legislation, policy results, and agency nominees.
Donations can be made through the SAF's website, and the process has been simplified using a new donation tool called Blink, created by SayDialect.
&#8220;Blinks lets you donate directly from X. If you have a Backpack wallet, you can use this Blink today. Support for Phantom wallets should be in the next release,&#8221; explained Samani. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/07/39649054/german-mp-argues-for-retaining-bitcoin-holdings-rather-than-liquidate">German MP Argues For Retaining Bitcoin Holdings Rather Than Liquidate</a></li>
</ul>

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

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Politics

$SOL

Multicoin Capital Announces $1M Match For Pro-Crypto Senate Candidates In Solana Donations

lululemon athletica inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lulu#NASDAQ">LULU</a>), a distinguished name in the athleisure and high-performance sportswear world, has often been lauded for its innovative products and strong brand loyalty. However, the stock recently experienced a notable dip in the past month, prompting investors to question whether now is the ideal time to buy.
lululemon&#39;s share price has experienced a downward trend, shedding a notable percentage in the past month. lululemon&#39;s share price has rolled down 7% in the past month, the broader industry has dropped 6.6%, and the Consumer Discretionary sector has declined 0.5%. The stock also traded shy of the S&amp;P 500&#39;s gain of 3.6% in the same period.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c2/70392.jpg?v=664171636" />
Image Source: Zacks Investment Research
At the current price of $300.32, the stock trades closer to its 52-week low of $293.03 reached on May 28, 2024. The current stock price reflects a 42% discount from its 52-week high mark of $516.39.
Furthermore, LULU is trading below its 50 and 200-day moving averages, signaling potential bearish sentiment in maintaining recent performance levels.
<h3>lululemon&#39;s Stock Trades Above 50 and 200-Day Moving Average</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b5/70396.jpg?v=1374675957" />
Image Source: Zacks Investment Research
<h3>Understanding the Recent Decline</h3>
The recent stock decline follows lululemon&#39;s latest Jun 5 earnings report, highlighting slightly lower-than-expected revenue growth and cautious guidance for the upcoming quarters. While generally positive, the company&#39;s recent earnings report gave investors many reasons to mull over, including LULU losing its foothold in the core America market.
Investors noted that LULU&#39;s revenues improved by just 10% in the recent quarter, much below the 24% revenue growth recorded in the year-ago quarter. This marks a notable decline from the company&#39;s double-digit revenue growth trend that the investor community is used to witnessing.
lululemon attributed some of these challenges to inventory shortages in key product lines, such as popular bag designs and essential apparel sizes and colors, particularly in the United States. The company has been working on filling the inventory gaps that resulted in the shortage and expects to replenish inventory in its stores by the second half of fiscal 2024.
Taking a closer look, revenues for lululemon&#39;s Americas business grew 3% in the last reported quarter, displaying a significant slowdown from the growth of 17% in the year-ago quarter. The unfavorable trends in North America due to the inflationary environment have also weighed on the performance of LULU&#39;s competitors, including Columbia Sportswear (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/colm#NASDAQ">COLM</a>) and Ralph Lauren Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rl#NYSE">RL</a>).
Further, lululemon&#39;s business is not shielded from the tough macroeconomic environment, which entails serious pressures on discretionary items spending by consumers. The ongoing rise in inflation and higher interest rates have impacted the income levels of consumers, making them selective about their purchases.
Given the soft trends, the company guided a dim second quarter, with revenue growth of 9-10% year over year.
<h3>Should You Buy lululemon Amid Recent Challenges?</h3>
Although the above discussion might cause some concern, the company holds strong growth potential from an earnings standpoint. Despite the slowed revenues, lululemon has managed to maintain robust gross margin and operating margin levels at 57.7% and 19.6%, respectively, in the first quarter of fiscal 2024.
The company&#39;s improved margins mainly come from its ability to sustain its pricing power in all environments. How does the company achieve this?
lululemon is known for selling high-end apparel, placing it in the premier clothing category. Moreover, the company operates through owned stores and e-commerce portals rather than relying on third-party retailers to generate revenues.
This premium positioning and lack of dependency on third parties give lululemon control over its pricing strategies. Through effective pricing policies, the company efficiently converts revenues into profits.
lululemon&#39;s earnings potential is well reflected by its forward guidance, which predicts the second-quarter fiscal 2024 EPS to be $2.92-$2.97, up from $2.68 in the prior-year quarter. For fiscal 2024, LULU anticipates EPS of $14.27-$14.47, an increase from $12.77 reported in fiscal 2023.
The company is optimistic about its growing presence in the international market, particularly in China, which offers a lucrative opportunity. The company expects the momentum in the international business to continue in fiscal 2024. Over the long term, lululemon expects the international business to represent nearly 50% of its total revenue.
Also, lululemon continues to benefit from progress on its Power of Three X2 growth strategy. As part of the plan, LULU estimates net revenues of $12.5 billion by 2026, implying significant growth from the 2021 reported figure of $6.25 billion.
<h3>Upward Estimate Trajectory</h3>
The Zacks Consensus Estimate for LULU&#39;s fiscal 2024 and 2025 EPS rose 1.4% and 0.5%, respectively, in the last 30 days. The upward revision in earnings estimates indicates analysts&#39; increasing confidence in the stock.
For fiscal 2024, the Zacks Consensus Estimate for LULU&#39;s sales and EPS implies 11.4% and 11.9% year-over-year growth, respectively. The consensus mark for fiscal 2025 sales and earnings indicates 9.9% and 10.1% year-over-year growth, respectively.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/23/70398.jpg?v=751343154" />
Image Source: Zacks Investment Research
<h3>Valuation</h3>
Despite the downside, lululemon is currently trading at a forward 12-month P/E multiple of 20.15X, significantly exceeding the industry average of 12.49X. The stock trades at a premium to its rival NIKE&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>) current forward 12-month P/E of 19.08X, which witnessed a significant drop in its market value after its recent earnings release.
The premium valuation indicates that investors have high expectations for lululemon&#39;s future performance and growth potential. However, lululemon&#39;s valuation appears a bit pricey. Investors may be skeptical about buying the stock at these premium levels and may wait for a better entry point.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3b/70395.jpg?v=712129136" />
Image Source: Zacks Investment Research
<h3>Conclusion</h3>
lululemon&#39;s recent stock decline may appear concerning at first glance, but it could also be seen as an opportunity for savvy investors. Despite the slowdown in revenues and the challenging path ahead, LULU shows resilience and growth potential in its earnings outlook and strategic positioning.
Despite the decline in the stock price, the company&#39;s premium valuation may give some investors pause, suggesting a potentially higher risk profile at current price levels. Therefore, investors should carefully consider their risk tolerance and wait for a more favorable entry point if concerned about current valuations. For those already invested, you should consider holding back the stock for solid long-term prospects.
lululemon currently carries a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2297193/lululemon-lulu-takes-a-down-road-in-a-month-should-you-buy?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2297193">To read this article on Zacks.com click here.</a>

Earnings

Analyst Ratings

COLM

LULU

Lululemon Takes a Down Road in a Month: Should You Buy?

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MVST

On June 28, Microvast Approved Appointment Of Yaser Ali To CFO

Nearly 150 social workers have issued a call to President Joe Biden to remove marijuana entirely from the federal Controlled Substances Act (CSA), despite the administration&#8217;s proposal to downgrade the substance from Schedule I to Schedule III. 
The letter, sent last week, stressed the urgent need for decriminalization, citing the disproportionate impact of marijuana criminalization on communities of color and the ongoing individual and collective suffering caused by prohibition, Marijuana Moment <a href="https://www.marijuanamoment.net/social-workers-push-biden-to-fully-decriminalize-marijuana-under-federal-law-not-just-reschedule-it/">reported.</a>
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/39041635/73-of-texans-support-full-cannabis-legalization-or-decriminalization-including-plurality-of-repu">73% Of Texans Support Full Cannabis Legalization Or Decriminalization, Including Plurality Of Republicans, Poll Finds</a>
"The criminalization of marijuana has torn apart families, with overwhelmingly disparate impact in communities of color," the letter states. "If marijuana remains scheduled under the CSA, the individual and collective suffering caused by prohibition will continue growing."
<h3 class="wp-block-heading">The Impact Of Criminalization</h3>
Social workers highlighted that under current laws, individuals convicted of drug offenses can lose public benefits, including welfare aid under the Supplemental Nutrition Assistance Program (SNAP) and access to housing. 
"By virtue of our profession, we have witnessed the grievous harm that marijuana criminalization has caused," the letter asserts. "If marijuana remains scheduled, parents will lose their children, children will lose their homes, and beloved members of our households will be deprived of essential benefits."
<h3 class="wp-block-heading">Patchwork Of State And Local Laws</h3>
The letter also criticized the inconsistent state and local laws regarding marijuana, which have led to significant disparities across the country. 
"While communities in legal states can build wealth from legal marijuana sales and benefit from regulations that ensure a safe, unaltered product," the letter explains, "other communities are subject to losing their homes, their occupations, their families, and their freedom over the same substance. The disparities in marijuana laws stand in stark opposition to the 88% of Americans who support legalization."
The letter revealed a startling statistic: "Approximately 80% of all children in the foster care system are removed from their homes for drug-related causes." 
<h3 class="wp-block-heading">Calls For Executive Action</h3>
The social workers called on Biden to take executive action to mitigate these harms while supporting reform legislation in Congress. 
"This is what our families need to thrive," the letter concluded, pointing out that the consequences of prohibition have disproportionately fallen on communities of color.
Mel Wilson, senior policy advisor at the National Association of Social Workers, highlighted the long-standing injustice. "Criminalizing marijuana has resulted in the arrest and incarceration of millions of Americans, mostly people of color, for many decades," he said in a press release. 
"In its decision to reschedule marijuana from a Schedule I to Schedule III drug, the Biden Administration is misguided if it thinks it is righting a wrong. On the contrary, such a rescheduling decision actually perpetuates an injustice. Therefore, social workers must urge President Biden to reconsider its current position by fully decriminalizing marijuana."
<h3 class="wp-block-heading">Advocacy For Descheduling</h3>
Chelsea Higgs Wise, executive director of the advocacy group Marijuana Justice, emphasized that rescheduling is insufficient. 
"It doesn't address past harms and is a minimal effort considering the immense damage caused by the drug war," she stated. "Given that this move primarily benefits big business while doing little for those directly impacted by the drug war, some might even see this inadequate measure as an act of violence."
Montae Taylor, a coordinator at Marijuana Justice, expressed the importance of social workers&#8217; support. "Their support for this petition echoes their unwavering commitment to justice and equality," Taylor said. "Their signatures are more than just names; they're symbols of hope and resilience."
<h3 class="wp-block-heading">Broad Support For Decriminalization</h3>
Several organizations, including the Drug Policy Alliance, National Cannabis Industry Association, Parabola Center, Students for Sensible Drug Policy, National Association of Black Cannabis Lawyers, Minority Cannabis Business Association, and Better Organizing to Win Legalization, back United for Marijuana Decriminalization.
Cat Packer, director of drug markets and legal regulation at the Drug Policy Alliance, urged supporters to submit comments on the rescheduling proposal. In an op-ed, Packer encouraged people to "weigh in on federal marijuana policy and demand an end to cannabis criminalization."
<h3 class="wp-block-heading">Public Response To Rescheduling Proposal</h3>
The Department of Justice is accepting comments on the rescheduling proposal until July 22. This period is expected to elicit significant responses from both reform advocates and opponents. Prohibitionist groups, such as Smart Approaches to Marijuana, are also mobilizing against the rescheduling, calling for formal administrative hearings and delays in the rulemaking process.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39650150/medical-marijuana-legalization-petition-ready-for-nebraska-ballot-dying-hospice-patient-signs-on">Medical Marijuana Legalization Petition Ready For Nebraska Ballot, Dying Hospice Patient Signs On Deadline Day</a></li>
</ul>

Gaming

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Social Workers Call On Biden To Fully Decriminalize Marijuana

Globalink Investment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLLI#NASDAQ">GLLI</a>, GLLIW, GLLIR, GLLIU)))) ("Globalink" or the "Company"), a special purpose acquisition company, announced today that on July 3, 2024, it caused to be deposited $60,000 (the "Extension Payment") into its trust account (the "Trust Account") with Continental Stock Transfer and Trust Company ("Continental") to extend the deadline to complete its initial business combination from July 9, 2024 to August 9, 2024. The extension is the thirteenth extension since the consummation of the Company's initial public offering on December 9, 2021, and the eighth of twelve extensions permitted under the Company's governing documents currently in effect.

GLLI

Globalink Investment Extends Deadline To Complete A Business Combination To August 9, 2024

In today's economy, understanding where your income places you on the socioeconomic ladder is crucial. The lines between <a href="https://www.benzinga.com/personal-finance/24/05/39069576/are-you-rich-heres-the-net-worth-you-need-to-be-poor-middle-class-and-wealthy">income classes</a> can seem blurred, but recent data clarifies income distribution in the United States.
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According to <a href="https://www.pewresearch.org/race-and-ethnicity/2024/05/31/the-state-of-the-american-middle-class/">Pew Research</a>, the median income of middle-class households increased from about $66,400 in 1970 to $106,100 in 2022, reflecting a 60% increase. In the same period, upper-income households saw a 78% rise in median income, from about $144,100 to $256,900. These figures, scaled to a three-person household and adjusted for 2023 dollars, illustrate a growing disparity between income classes.
Lower-income households have experienced slower growth, with median income increasing by only 55%, from about $22,800 in 1970 to $35,300 in 2022. This slower growth has widened the income gap significantly. In 2022, the median income of upper-income households was 7.3 times that of lower-income households, compared to 6.3 times in 1970. For middle-income households, the ratio was 2.4 times in 2022, up from 2.2 in 1970.
Demographics also play a role in income distribution. Children and adults over 65 are more likely to live in lower-income households. In 2022, 38% of children and 35% of adults 65 and older fell into this category, compared to 26% of adults aged 30 to 44 and 23% of those aged 45 to 64. Conversely, adults in their prime working years (30 to 64) were more likely to be in the upper-income bracket. The share of people living in <a href="https://www.benzinga.com/personal-finance/24/05/39069576/are-you-rich-heres-the-net-worth-you-need-to-be-poor-middle-class-and-wealthy">upper-income households</a> ranged from 13% among younger adults to 24% among those aged 45 to 64.
Gender differences are also evident. In 2022, men were slightly more likely than women to live in middle-income households (53% vs. 51%) and were more likely to be in upper-income households (18% vs. 16%).
In 2023, Fool.com offered a detailed breakdown of income classifications, providing insight into where different income levels stand, even within the middle class.&nbsp;
<ul>
<li>Middle class includes those in the 40th to 60th percentile of household income, with an income range of $55,001 to $89,744.</li>
</ul>
<ul>
<li>Upper middle class covers the 60th to 80th percentile, with incomes between $89,745 and $149,131.</li>
</ul>
<ul>
<li>Upper class comprises the top 20% of earners, with incomes of $149,132 or higher.</li>
</ul>
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Consider these figures when evaluating your own income status. Remember, this is just a snapshot in time — your earnings and class designation can change throughout your life.
Net worth disparities further highlight the income divide. While the median net worth of upper-class households (income $149,132 or higher) is $805,400, those in the lower class have a median net worth of just $12,000.
Understanding where your income places can provide valuable insight into your financial health and future prospects. Whether you're middle class, upper middle class, or upper class, these distinctions shape your economic reality and opportunities.
To maximize your financial situation, consider <a href="https://www.benzinga.com/money/are-you-rich-advisor">consulting a financial advisor</a> for personalized advice and strategies tailored to your goals.
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State Representatives Graham Filler (R) and Jimmie Wilson, Jr. (D) introduced a bill aiming to modernize Michigan's cannabis laws. <a href="https://www.legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-5884.htm">House Bills 5884-85 </a>propose to merge the regulations for recreational and medical marijuana into a single regulatory framework under the Michigan Regulation and Taxation of Marihuana Act. This initiative seeks to simplify the regulatory process, reduce costs for businesses and improve efficiency for the state's Cannabis Regulatory Agency (CRA).
"Streamlining and simplifying these laws is a win for everyone involved – from businesses to patients to regulators,&#8221; <a href="https://gophouse.org/posts/reps-filler-wilson-introduce-plan-to-modernize-michigans-marijuana-laws">said</a> Filler. For instance, the dual regulatory system requires marijuana licensees to renew both medical and recreational licenses annually. This creates an extra burden for operators that work through both licenses. The proposed legislation will eliminate this duplication, requiring only one license.
Rep. Wilson added, "This is about making Michigan an attractive and stable place for marijuana businesses to thrive. A single, cohesive regulatory framework will support our growing economy, ensure the safety and quality of marijuana products, and maintain access for medical marijuana patients."
<h3 class="wp-block-heading">Michigan&#8217;s Cannabis Market</h3>
Michigan has one of the most dynamic cannabis market in the US. Cannabis business have experienced remarkable growth since the legalization of recreational use in late 2019. In 2023, the state <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36874881/key-success-states-legal-marijuana-market-weed-sales">reported</a> $3.06 billion in sales, with recreational cannabis accounting for $2.74 billion of this total. This represents a 25% increase from the previous year, highlighting the market&#8217;s rapid expansion and its significant economic impact. Cannabis tax revenue <a href="https://www.benzinga.com/markets/cannabis/23/11/35796348/michigans-cannabis-tax-revenue-surpasses-beer-wine-and-liquor-combined-green-rush-gets-greener">surpassed</a> that of beer, wine, and liquor combined, totaling $266.2 million for the fiscal year 2023​&nbsp;
The Michigan cannabis market is also <a href="https://www.benzinga.com/markets/cannabis/23/12/36078054/michigans-green-boom-report-from-the-second-largest-cannabis-market-in-the-u-s">highly competitive</a>, with over 2,100 active adult-use licenses, including 1,050 grower licenses and 734 retailer licenses. This landscape has driven down prices, benefiting consumers and encouraging legal purchases. The average price of an ounce of adult-use flower dropped from $512 in January 2020 to around $90 in December 2023. Currently, 75% of consumers opt for legal dispensaries over illicit sources​.
Despite the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35248283/michigans-unrestricted-but-limited-cannabis-market-surges-say-experts">market&#8217;s success</a>, Michigan&#8217;s Cannabis Regulatory Agency (CRA) has faced <a href="https://www.benzinga.com/markets/cannabis/23/08/34046468/audit-reveals-concerns-is-michigans-cannabis-regulation-effective">scrutiny</a> over its effectiveness. A audit from last year revealed concerns about delays in enforcing regulations. Should the new bills get enacted, the existing Medical Marihuana Facilities Licensing Act and the Michigan Regulation and Taxation of Marihuana Act will merge into a single regulatory structure. Thus, the CRA will oversee a unified regulatory framework for both recreational and medical marijuana, hopefully expediting the processes for business owners.
<h3 class="wp-block-heading">The Bill's Key Provisions</h3>
The new plan, detailed in the introduced bill, includes the following modifications:
<ol>
<li>Regulatory Consolidation:&nbsp;The bill aims to repeal the older Medical Marihuana Facilities Licensing Act and integrate its regulations in a single structure.</li>
<li>Single Licensing System:&nbsp;It will require only one license for activities such as growing, processing, transporting, or selling cannabis.</li>
<li>Unchanged Medical Access:&nbsp;The system for medical marijuana patients and caregivers under the Michigan Medical Marihuana Act of 2008 will remain unaffected.</li>
</ol>
"By modernizing the regulatory process, we can help businesses cut costs and increase efficiency," said Filler.
The bills have been referred to the House Regulatory Reform Committee for further consideration.

Bipartisan Bill In Michigan Aims To Merge Adult Use And Medical Marijuana Regulations

U.S. stocks once again reached all-time highs in the shortened trading week due to the Independence Day holiday, as the latest economic data bolstered investor confidence that the Federal Reserve may soon <a href="https://www.benzinga.com/markets/equities/24/07/39646053/mixed-picture-for-fed-june-payrolls-rise-more-than-expected-unemployment-rate-ticks-up-wage-grow">begin cutting interest rates.</a>
The U.S. job market showed a better-than-expected increase in employment in June. Yet downward revisions for April and May, coupled with a slight, unexpected uptick in the unemployment rate and slower wage growth, indicate <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39648975/fed-needs-to-frontload-interest-rate-cuts-say-4-economists-labor-markets-cooling-">an overall cooling of conditions.</a>
An additional warning the U.S. economy might be entering a cooling phase came from the latest Institute for Supply Management Services Purchasing Managers Index, which contracted in June and plunged to its lowest <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39618958/us-services-sector-activity-experiences-largest-contraction-in-over-4-years-gold-ra">level since May 2020.</a>
Technology and consumer discretionary stocks were the best-performing sectors of the week, driven by the "bad news is good news" narrative as higher rate-cut expectations fuel growth stocks.
The top seven tech stocks — Microsoft Corp., Apple Inc., NVIDIA Corp., Alphabet Inc., Amazon Inc., Meta Platforms Inc. and Tesla, Inc. — have reached a combined market cap of over $16 trillion. For Tesla, this has been the best week in terms of market <a href="https://www.benzinga.com/markets/equities/24/07/39650506/magnificent-7-stocks-propel-s-p-500-nasdaq-100-to-record-highs-as-jobs-data-fuels-rate-cut-bets-">performance since January 2023.</a>
Chart Of The Week: Magnificent Seven, SPY, QQQ Hit All-Time Highs
<figure class="wp-block-image size-large"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="517" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05153853/image-11-1024x517.png" alt="" class="wp-image-422201" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05153853/image-11-1024x517.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05153853/image-11-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05153853/image-11-768x388.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05153853/image-11-1536x776.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05153853/image-11.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070524&amp;t=be2bearmibe3na1">Benzinga Pro</a>
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Bitcoin's Bear Market
The largest cryptocurrency experienced the worst trading week since August 2023, entering a bear market after dropping more than 20% from highs. Gold enthusiast Peter Schiff expects further declines for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), warning HODLers and Bitcoin ETF buyers about potential losses as prices <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639419/amid-bitcoin-crash-peter-schiff-forecasts-prolonged-bear-market-dont-say-i-didnt-warn-you-">drop below critical levels.</a>
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Stocks Rally To Record Highs As Investors Eye Interest Rate Cuts; Labor Market Cools, Tesla Soars: This Week In The Markets

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