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Aeris Environmental Ltd is engaged in the research, development, commercialization of proprietary technologies, and distribution of the AerisGuard products and provides HVAC/R Hygiene and Remediation Technology, and Energy Efficiency services. The company provides various solutions and products such as Aerisview, Aerisguard Polymers, Aeris Smarthub, Bioactive Coil Treatment, Multi Enzyme Coil Cleaner, Surface Treatment, HD Cleaner, and others. Its geographic reportable segments are Australia and International. The company generates a majority of its revenue from Australia.

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Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg celebrated the Fourth of July, surfing in a suit with a beer in hand and the American flag waving, reminding <a href="https://www.benzinga.com/news/21/07/21849969/oh-the-cringe-the-memes-facebook-ceo-mark-zuckerberg-shares-patriotic-surfing-video-in-honor-of-four">people about his 2021 video</a>.
The celebration was shared through a video on <a href="https://www.facebook.com/reel/488826550181525">Facebook</a> and Instagram.
What Happened: The latest video of the Meta CEO shared on Facebook and Instagram, showcased him on a hydrofoil, donning a tuxedo, a chain necklace, and what seemed to be a pair of Meta Ray-Bans. The video also featured Bruce Springsteen&#8217;s &#8220;Born in the USA&#8221; as the soundtrack.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/04213704/Screenshot-2024-07-05-at-7.06.52%E2%80%AFAM-1024x864.png" alt="" class="wp-image-420423" /></figure>
See Also: <a href="https://www.benzinga.com/news/24/07/39594885/elon-musk-reveals-the-staggering-amount-of-nvidia-h100-gpus-that-will-be-used-to-train-xai-chatbot-g?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reveals The Staggering Amount Of Nvidia H100 GPUs That Will Be Used To Train xAI Chatbot Grok</a>
In the comments, Zuckerberg also hinted at a potential new look, suggesting he might grow out a mullet. He also discussed his recovery from an ACL tear, stating, &#8220;Pure 8 month post-recovery surfing with a dry start right here,&#8221; <a href="https://africa.businessinsider.com/news/mark-zuckerberg-wishes-america-a-happy-birthday-while-surfing-in-a-suit-with-beer-and/8exbjj6">reported</a> Business Insider.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I hate to admit it but Mark Zuckerberg has swagger <a href="https://t.co/5OKkhUflLo">pic.twitter.com/5OKkhUflLo</a>
&mdash; greg (@greg16676935420) <a href="https://twitter.com/greg16676935420/status/1808906961951272968?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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Why It Matters: This year&#8217;s celebration is a shift from Zuckerberg&#8217;s infamous sunscreen look that was made public in 2020, where he smeared his face to avoid paparazzi attention, a move that went viral instead.
In 2021 also, Zuckerberg posted a video on July 4 while surfing that quickly became a topic of discussion and was turned into a meme. The video at the time had John Denver's &#8220;Take Me Home, Country Roads,&#8221; as a soundtrack, a detail that did not go unnoticed by social media users.
Aside from his role as the CEO of one of the most valuable companies in the worl<a href="https://www.benzinga.com/general/education/24/05/39005559/5-mark-zuckerberg-hobbies-that-you-can-adopt-without-spending-much">d, Zuckerberg is known for his passionate hobbies</a>. He has often credited his side projects for teaching him more than his college courses ever did, highlighting their role in skill development and innovation.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39569675/palantirs-peter-thiel-says-its-very-strange-that-most-money-in-ai-is-being-made-by-only-one-company?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Peter Thiel Says It&#8217;s &#8216;Very Strange&#8217; That Most Money In AI Is Being Made By Only One Company: &#8216;…Which Silicon Valley Doesn&#8217;t Even Know Much About Anymore&#8217;</a></li>
</ul>
Disclaimer: 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.

News

Tech

Mark Zuckerberg Recreates His Cringe Fourth Of July Video From 2021, But This Time With Extra Swagger: 'Happy Birthday, America'

The cryptocurrency market bled profusely Thursday, as investors shuddered about the movement of billions of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ahead of a probable sell-off.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-5.10%</td>
<td>$57,248.99</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-6.78%</td>
<td>$3,081.66</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-13.03%</td>
<td>$0.1033</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin nosedived to the $57,000 zone, its lowest since Feb. 28. Since the beginning of this week, the world's largest digital asset has slumped 9.5%, nearly 21% down from its all-time high clocked earlier this year.
The second-largest cryptocurrency, Ethereum, also crashed to a six-week low, erasing all the gains made since the hype of spot ETF approvals in mid-May.&nbsp;
The sell-offs were precipitated by the<a href="https://x.com/ArkhamIntel/status/1809023951932162227"> movement of 47,228 Bitcoin, worth $2.7 billion</a>, by defunct cryptocurrency exchange Mt. Gox from a cold wallet to a new wallet, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39577189/will-mt-gox-really-dump-9b-in-bitcoin-on-the-market">possibly in preparation for payouts to its creditors</a>.
The slump forced the largest wave of liquidations since mid-April, as $541.45 million in future contracts was wiped out in the last 24 hours. Long liquidations accounted for a whopping $472 million.
Bitcoin's Open Interest plunged 7% in the last 24 hours. A fall in price, coming alongside a fall in OI, is viewed by some analysts as a good sign because they think the downtrend will end once all long sellers have closed their positions.&nbsp;&nbsp;
The Cryptocurrency Fear &amp; Greed Index flashed a "Fear" signal, implying that investors were bearish on the market prospects. But such conditions also provide buying opportunity for bold dip buyers.&nbsp;
Top Losers (24-Hours)
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>-20.89%</td>
<td>$0.9702</td>
</tr>
<tr>
<td>ORDI (ORDI)</td>
<td>-17.83%</td>
<td>$29.62</td>
</tr>
<tr>
<td>Beam (BEAM)</td>
<td>-17.26%</td>
<td>$0.01385</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap stands at $2.09 trillion, following a 6.06% fall in the last 24 hours.
Stock futures traded flat Thursday night. The Dow Jones Industrial Average Futures is up 0.08%, as of 9 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.01%, while Nasdaq 100 Futures slipped 0.03%.
Markets will open on Friday after the Fourth of July break. Investors have now set their eyes on the release of June jobs data.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Ali Martinez sounded a bearish alarm, with more potential downsides to follow for Bitcoin.&nbsp;
"Bitcoin closing below $57,000 could spell trouble, with potential support only at $51,000," Martinez stated.&nbsp;
"If BTC can break past this level, the next significant target is $78,700," Martinez explained.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One of the most crucial resistance areas for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is $65,795. If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> can break past this level, the next significant target is $78,700! <a href="https://t.co/tcxTJlKUo3">pic.twitter.com/tcxTJlKUo3</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1808092251760849400?ref_src=twsrc%5Etfw">July 2, 2024</a></blockquote>
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</figure>
In a positive forecast, popular analyst Rekt Capital highlighted the possibility of King Crypto peaking around mid-September or mid-October 2025.
"The longer Bitcoin consolidates after the Halving, the better it will be for synchronizing this current cycle with the traditional halving cycle," the trader opined.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> In the 2015-2017 cycle, Bitcoin peaked 518 days after the Halving In the 2019-2021 cycle, Bitcoin peaked 546 days after the Halving If history repeats and the next Bull Market peak occurs 518-546 days after the Halving&#8230; That would mean Bitcoin could peak in this cycle… <a href="https://t.co/bg6GjkvLlW">pic.twitter.com/bg6GjkvLlW</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1808976353514893603?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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Photo by stockphoto-graf on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39621902/bitcoin-will-plummet-to-50k-if-this-key-support-breaks-10x-research">Bitcoin Will Plummet To $50K If This Key Support Breaks: 10x Research</a></li>
</ul>

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

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Bitcoin, Ethereum, Dogecoin In Full Meltdown As Mt.Gox Moves $2.7B To New Wallet: King Crypto Decline To $51K Feared By Analyst

In a recent leaked video, former President Donald Trump has made unfounded allegations about President Joe Biden and Vice President Kamala Harris, causing a stir.
What Happened: Reuters reported, citing The Daily Beast, on Thursday that Trump was filmed at his golf course making baseless claims about having forced Biden out of the presidential race. He also disparaged Harris, who is expected to succeed Biden if he were to withdraw. In the video, Trump is heard saying, &#8220;He&#8217;s quitting the race &#8230; I got him out,&#8221; and then proceeds to criticize Harris, stating, &#8220;She&#8217;s so bad, she&#8217;s so pathetic, she&#8217;s just so f&#x2A;&#x2A;&#x2A;ing bad.&#8221;
Despite Trump&#8217;s assertions, Biden, 81, confirmed on Wednesday that he is still in the race. His campaign responded to Trump&#8217;s remarks with a statement from spokesperson Sarafina Chitika, highlighting Trump&#8217;s own controversial actions and behaviors.
Trump&#8217;s campaign defended his statements, with co-campaign manager Chris LaCivita asserting, &#8220;Nothing in this video is incorrect.&#8221; The video was reportedly confirmed to have been filmed at Trump National Golf Club in Bedminster, New Jersey.
See Also: <a href="https://www.benzinga.com/news/24/07/39589469/elon-musk-takes-a-jibe-at-aocs-impeachment-plan-for-supreme-court?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks AOC&#8217;s Impeachment Plan For Supreme Court: &#8216;Losing It&#8217;</a>
Why It Matters: This incident comes amid increasing speculation about Harris&#8217;s potential candidacy for the 2024 presidential elections. Recent reports suggest that Harris <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">might replace</a> Biden as the Democratic nominee, following Biden's criticized debate performance against Trump.
Benzinga reported that Harris has emerged as the leading alternative to replace Biden if he decides not to continue his reelection campaign.
Furthermore, Harris has previously <a href="https://www.benzinga.com/news/24/07/39638417/kamala-harris-warns-of-trumps-threat-to-democracy-amid-speculations-of-her-presidential-candidacy-he">expressed her concerns</a> about Trump's potential reelection, warning of the threat he poses to democracy. She stated, "If reelected, Trump has vowed to be a dictator on day one and openly said he intends to weaponize the Department of Justice against his enemies."
As the 2024 presidential election approaches, the political landscape remains uncertain, with increased calls for Biden to step aside and make way for a new candidate.
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</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Trump's Unfounded Claims About Kamala Harris Stir Controversy: 'She's So Bad, She's So Pathetic'

In a surprising revelation, former Obama administration official, Van Jones, has indicated that Democrats are privately considering the replacement of President Joe Biden.
What Happened: Jones disclosed that the internal discussion among Democrats is focused on &#8220;how&#8221; to replace Biden, not &#8220;whether&#8221;. He added that the Democrats defending Biden publicly are having &#8220;completely different&#8221; discussions behind closed doors. This comes amid rising apprehensions within the party about Biden&#8217;s standing as the presumptive nominee, <a href="https://thehill.com/homenews/campaign/4755101-van-jones-democrats-how-to-replace-joe-biden/">reported</a> The Hill.
Jones described a &#8220;full-scale panic&#8221; behind the scenes, with legal memos and PDFs being shared on WhatsApp as party members explore possible options for Biden&#8217;s replacement while ensuring he feels respected.
According to Jones, Democrats are assuming that Vice President Kamala Harris would be the successor for the top spot. The question of who should be Harris&#8217;s vice president is also under consideration.
Although Jones commended Biden as &#8220;a great candidate&#8221;, he stressed that Democrats must be responsible in determining the best path forward. He suggested that while Biden loves the country and has given his all, he may not be able to cross the finish line.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594060/trump-win-in-2024-would-lead-to-stronger-growth-and-higher-inflation-expert-predict?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Win In 2024 Would Lead To &#8216;Stronger Growth And Higher Inflation,&#8217; Expert Predicts Fed To Factor In Election Results In Rate Cut Plans</a>
Why It Matters: The news comes in the wake of a <a href="https://www.benzinga.com/news/24/07/39611807/biden-trump-deadlock-ends-after-debate-new-poll-indicates-defection-of-voter-category-that-should-wo">nationwide poll</a> showing that 54% of voters believe Biden should be replaced as the Democratic nominee for the 2024 election.
Following a lackluster debate performance by Biden, <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">Harris has emerged</a> as the leading alternative for the 2024 election. The odds of Harris replacing Biden as the Democratic nominee surged dramatically on a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c">cryptocurrency-based prediction market</a>. 
Meanwhile, some Democrats are encouraging Biden to step aside, seeing former first lady Michelle Obama as a potent contender against ex-President Donald Trump, as per an <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">Ipsos poll</a>.
Image via Shutterstock
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</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Obama-Era Official Says Democrats Discussing 'How' To Replace Biden: 'Full-Scale Panic' Behind The Scenes

Whistleblower Edward Snowden&#8217;s Fourth of July social media post reminds Americans of the revolutionary origins of the holiday, sparking a deeper conversation about government power.
What Happened: On Thursday, Snowden, former NSA contractor, took to X to share a thought-provoking message. He urged his followers to remember the historical context of Independence Day, stating, &#8220;As you celebrate the Fourth with your family, remember what it is that the holiday commemorates: shooting at the government. &#x1f1fa;&#x1f1f8;&#x1f386;&#8221;.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As you celebrate the Fourth with your family, remember what it is that the holiday commemorates: shooting at the government. &#x1f1fa;&#x1f1f8;&#x1f386;
&mdash; Edward Snowden (@Snowden) <a href="https://twitter.com/Snowden/status/1808869713797165236?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: New Poll Shows President Still Very Much In Race Despite Debate Fiasco But Final Outcome</a>
This post follows a series of comments made by Snowden earlier this year, where he expressed concerns over the erosion of civil liberties and the increasing power of the government.
Why It Matters: Snowden&#8217;s tweet draws attention to the ongoing debate about the balance of power between citizens and their government. 
In January, Snowden expressed his <a href="https://www.benzinga.com/news/24/01/36626089/collapse-of-the-american-century-snowden-blames-gold-standard-abandonment-union-busting-and-post-911">views on the perceived decline</a> of the &#8216;American Century,&#8217; attributing it to factors such as the abandonment of the gold standard, union busting, and the erosion of liberties post-9/11. His tweet on Independence Day seems to be a continuation of his commentary on the state of American democracy. 
In February, Snowden <a href="https://www.benzinga.com/news/24/02/37281732/edward-snowden-thinks-people-should-outrage-more-over-drone-swarms-and-military-robots-than-expressi">voiced his concerns</a> over the misuse of advanced technologies like artificial intelligence, arguing that software engineers were being &#8220;henpecked&#8221; by an aggressively ignorant crowd&#8217;s &#8220;agenda.&#8221; 
&#8220;People should spend more time agitating against drone swarms and military robots—which are already killing people—than they do trying to cripple LLM chatbots and diffusion models,&#8221; said Snowden at the time.
Photo via Wikimedia
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</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Edward Snowden Reminds Americans About Origins Of The Fourth Of July Holiday: 'Shooting At The Government'

Kamala Harris, the Vice President of the United States, recently expressed her concerns about Donald Trump&#8217;s potential reelection, warning of the threat he poses to democracy.
What Happened: On Thursday, Harris took to X, formerly Twitter, to voice her apprehensions about Trump&#8217;s intentions if reelected. She stated, &#8220;If reelected, Trump has vowed to be a dictator on day one and openly said he intends to weaponize the Department of Justice against his enemies.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If reelected, Trump has vowed to be a dictator on day one and openly said he intends to weaponize the Department of Justice against his enemies. It's on us to recognize the threat he poses—the choice is clear in November.<a href="https://t.co/royReR1WSP">pic.twitter.com/royReR1WSP</a>
&mdash; Kamala Harris (@KamalaHarris) <a href="https://twitter.com/KamalaHarris/status/1808939086465433951?ref_src=twsrc%5Etfw">July 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Her tweet comes amid rising speculations about her potential candidacy for the 2024 presidential elections. Recent reports suggest that Harris might replace Joe Biden as the Democratic nominee, following Biden&#8217;s criticized debate performance against Trump.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594060/trump-win-in-2024-would-lead-to-stronger-growth-and-higher-inflation-expert-predict?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Win In 2024 Would Lead To &#8216;Stronger Growth And Higher Inflation,&#8217; Expert Predicts Fed To Factor In Election Results In Rate Cut Plans</a>
Why It Matters: The odds of Harris <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c">becoming the presidential candidate</a> have surged from 8% to 27% on Polymarket, a cryptocurrency-based prediction market. This shift in sentiment is significant, considering Biden remains the top pick with 58% odds in his favor. 
Furthermore, a Reuters report, citing multiple senior sources within the Democratic party, suggests Harris as the <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">top choice to replace Biden</a> if he decides not to continue his reelection campaign. 
Despite calls for Biden to step aside following his shaky debate performance, Harris <a href="https://www.benzinga.com/general/politics/24/06/39558557/kamala-harris-defends-bidens-slow-start-at-debate-with-strong-finish-clinton-newsom-obama-race-t">defended</a> him, stating that he had a &#8216;strong finish&#8217;. 
If Biden were to step down, Harris is <a href="https://www.benzinga.com/general/politics/24/07/39625833/who-gets-the-fundraising-money-if-joe-biden-drops-out-of-2024-election">among the leading candidates</a> who would be selected to replace him. 
Image via Shutterstock
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<li><a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: New Poll Shows President Still Very Much In Race Despite Debate Fiasco But Final Outcome</a></li>
</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Kamala Harris Warns Of Trump's Threat To Democracy, Amid Speculations Of Her Presidential Candidacy: 'He Vowed To Be A Dictator On Day One'

Molina Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) has outperformed the market over the past 20 years by 4.94% on an annualized basis producing an average annual return of 13.24%. Currently, Molina Healthcare has a market capitalization of $17.36 billion. 
Buying $100 In MOH: If an investor had bought $100 of MOH stock 20 years ago, it would be worth $1,198.67 today based on a price of $296.39 for MOH at the time of writing.
<h3>Molina Healthcare's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720128614_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.

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,200 Today

Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has outperformed the market over the past 15 years by 24.52% on an annualized basis producing an average annual return of 37.54%. Currently, Netflix has a market capitalization of $294.09 billion. 
Buying $1000 In NFLX: If an investor had bought $1000 of NFLX stock 15 years ago, it would be worth $119,588.73 today based on a price of $682.51 for NFLX at the time of writing.
<h3>Netflix's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720128609_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.

NFLX

Here's How Much $1000 Invested In Netflix 15 Years Ago Would Be Worth Today

Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) has outperformed the market over the past 10 years by 2.04% on an annualized basis producing an average annual return of 12.87%. Currently, Automatic Data Processing has a market capitalization of $96.99 billion. 
Buying $100 In ADP: If an investor had bought $100 of ADP stock 10 years ago, it would be worth $335.60 today based on a price of $236.98 for ADP at the time of writing.
<h3>Automatic Data Processing's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720126830_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.

Here's How Much $100 Invested In Automatic Data Processing 10 Years Ago Would Be Worth Today

Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) has outperformed the market over the past 10 years by 1.06% on an annualized basis producing an average annual return of 11.89%. Currently, Toll Brothers has a market capitalization of $11.48 billion. 
Buying $1000 In TOL: If an investor had bought $1000 of TOL stock 10 years ago, it would be worth $3,084.27 today based on a price of $111.80 for TOL at the time of writing.
<h3>Toll Brothers's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720126825_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 Toll Brothers 10 Years Ago Would Be Worth This Much Today

Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) has outperformed the market over the past 20 years by 3.64% on an annualized basis producing an average annual return of 11.95%. Currently, Western Digital has a market capitalization of $25.40 billion. 
Buying $100 In WDC: If an investor had bought $100 of WDC stock 20 years ago, it would be worth $974.81 today based on a price of $77.79 for WDC at the time of writing.
<h3>Western Digital's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720125025_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.

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,000 Today

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/HERTF">Heritage Cannabis Holding</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HERTF#OTC">HERTF</a>) shares closed up 66.67% at $0.001</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 up 31.39% at $0.01</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 up 29.87% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/ZLDAF">Zelira Therapeutics</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZLDAF#OTC">ZLDAF</a>) shares closed up 21.73% at $0.23</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed up 14.45% at $0.08</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed up 13.74% at $0.27</li>
<li><a href="https://www.benzinga.com/quote/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed up 9.94% at $0.19</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 up 9.91% at $0.66</li>
<li><a href="https://www.benzinga.com/quote/ITHUF">iAnthus Capital Hldgs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) shares closed up 8.82% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/ACB">Aurora Cannabis</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) shares closed up 8.42% at $4.90</li>
<li><a href="https://www.benzinga.com/quote/SOL">Emeren Group</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOL#NYSE">SOL</a>) shares closed up 7.14% at $1.62</li>
<li><a href="https://www.benzinga.com/quote/OGI">OrganiGram Holdings</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) shares closed up 6.04% at $1.59</li>
<li><a href="https://www.benzinga.com/quote/CNPOF">RIV Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) shares closed up 5.99% at $0.11</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 5.89% at $0.16</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 up 5.26% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 4.52% at $1.62</li>
<li><a href="https://www.benzinga.com/quote/GTBIF">Green Thumb Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) shares closed up 4.41% at $11.59</li>
<li><a href="https://www.benzinga.com/quote/TLRY">Tilray Brands</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares closed up 4.24% at $1.73</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed up 4.17% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CGC">Canopy Gwth</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares closed up 4.15% at $6.49</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 up 3.98% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CURLF">Curaleaf Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares closed up 3.97% at $3.93</li>
<li><a href="https://www.benzinga.com/quote/SNDL">SNDL</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares closed up 3.72% at $1.96</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 3.72% at $0.03</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 up 3.59% at $0.58</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/GRNH">GreenGro Technologies</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GRNH#OTC">GRNH</a>) shares closed down 90.00% at $1e-06</li>
<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 down 26.76% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed down 22.37% at $0.03</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 down 6.10% at $0.04</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 4.80% at $0.01</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 down 4.52% at $11.46</li>
<li><a href="https://www.benzinga.com/quote/NWVCF">EnWave</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NWVCF#OTC">NWVCF</a>) shares closed down 3.40% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed down 3.18% at $0.25</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cannabis

BMMJ

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CNBX

CNPOF

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

CWBHF

CXXIF

FFNTF

FUAPF

GBHPF

GNLN

GRNH

GTBIF

HERTF

ITHUF

KAYS

LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

LBUY

MGWFF

MJNE

MRMD

NWVCF

RMHB

SNDL

TLRY

YCBD

ZDPY

ZLDAF

Marijuana Stock Movers For July 4, 2024

CF Industries Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CF#NYSE">CF</a>) has outperformed the market over the past 15 years by 6.62% on an annualized basis producing an average annual return of 19.63%. Currently, CF Industries Holdings has a market capitalization of $12.83 billion. 
Buying $1000 In CF: If an investor had bought $1000 of CF stock 15 years ago, it would be worth $14,697.48 today based on a price of $70.20 for CF at the time of writing.
<h3>CF Industries Holdings's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720123220_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 CF Industries Holdings 15 Years Ago Would Be Worth This Much Today

Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) has outperformed the market over the past 5 years by 3.16% on an annualized basis producing an average annual return of 16.32%. Currently, Raymond James Finl has a market capitalization of $25.02 billion. 
Buying $100 In RJF: If an investor had bought $100 of RJF stock 5 years ago, it would be worth $216.47 today based on a price of $120.73 for RJF at the time of writing.
<h3>Raymond James Finl's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720123215_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.

$100 Invested In Raymond James Finl 5 Years Ago Would Be Worth This Much Today

Delta 8 THC — popularly known as "intoxicating hemp" — regulation bills were voted on in the New Jersey l<a href="https://www.benzinga.com/topic/thc">egislature on July 1</a>. 
The bills passed in both the Assembly and State Senate, with amendments allowing liquor stores to sell hemp drinks after obtaining proper permission. To this end, the NJ Cannabis Regulatory Commission (CRC) must now set up new rules and issue a special license.
<h3 class="wp-block-heading">Legalization and Licensing</h3>
<a href="https://www.njleg.state.nj.us/bill-search/2024/S3235/bill-text?f=S3500&amp;n=3235_R3">Bill S3235</a> regulates the production and sale of certain intoxicating hemp products. Originally set to regulate a demand covered by dispensaries, the legislature made amendments to allow big alcohol to compete. 
Now the state&#8217;s CRC will oversee the licensing process for liquor stores to sell hemp drinks together with their usual offer. Although expedited, the approval of the bill broadly changes the landscape for the adult use of hemp products. 
On the bright site, the regulation will help ensure products are tested and meet quality standards. In this manner, New Jersey has addressed the big issue of how to deal with Delta 8 synthetic compounds.
<h3 class="wp-block-heading">Amendments Favoring the Alcohol Industry</h3>
The amendments allowing liquor stores to sell hemp drinks have sparked significant debate. This move is seen as a win for the alcohol industry, giving them a new product line and potentially increasing their customer base. 
However, this amendment has faced criticism from cannabis advocates. They argue that it undermines the specialized regulatory framework intended for cannabis products. The bill specifies that hemp products cannot contain more than 0.5 milligrams of total THC per serving and 2.5 milligrams of total THC per package.
&#8220;Safeguarding drinking products is only what the amendment talks about,&#8221; defended State Senate Majority Leader Teresa Ruiz. Yet, opponents like Susanna P. Short argue, &#8220;I have yet to hear a compelling argument why liquor stores need to participate in the sale of THC.&#8221;, <a href="https://headynj.com/politics/nj-delta-8-thc-intoxicating-hemp-bills-pass-legislative-committees/">reported</a> HeadyNJ.
<h3 class="wp-block-heading">Cannabis Dispensaries Vs Liquor Stores</h3>
At the hearing, a heated debate took place. Among others, Bill Caruso supported the bill but opposed the liquor amendment. He emphasized the need for the NJCRC to regulate THC amounts and criticized the unregulated sale of Delta 8 THC hemp in liquor stores. 
&#8220;This is being sold right now, unregulated, untested, and to children even in liquor stores,&#8221; Caruso exclaimed. "Do the right thing here. Pass the bill in front of you as is. Work on separate legislation to figure out how the liquor industry comes into the cannabis world properly tested, safe, regulated, and without the threat of being sold to kids.&#8221;
Scott Rudder, President of NJCBA, echoed concerns about public safety and the inconsistency in product ingredients. &#8220;There is no such thing as intoxicating hemp,&#8221; Rudder argued, addressing that the limited amount of THC on the beverages won&#8217;t give you that much of a high.
Finally, lobbyists for the alcohol industry emerged victorious. Now, the CRC will have the task of issuing special licenses and controlling liquor stores aiming to sell the product.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/01/36584043/real-weed-or-a-lab-high-delta-8-and-delta-9-thc-explained">Real Weed Or A Lab High? Delta-8 And Delta-9 THC Explained </a>
<h3 class="wp-block-heading">The Regulatory Debate Surrounding Delta 8</h3>
There is a bigger picture to the whole situation.
Delta 8 THC remains broadly unregulated across the U.S., making it widely available, even in states where adult-use cannabis is illegal. 
Although it&#8217;s safe to say that the primary concern with Delta 8 is the lack of controlled manufacturing processes, we also don&#8217;t know that much about the Delta 8 compound itself. Delta 8 proliferated after a loop whole in Farm Bill 2018 led to hemp manufacturers producing a chemical synthesis of a THC molecule that is scarce in the hemp plant, but can be concentrated in a lab.
Delta 9, unlike Delta 8 THC, is what we call &#8220;just THC.&#8221;It&#8217;s naturally present in high quantities in cannabis flowers, federally forbidden, and (hopefully, not for much longer) scheduled as a substance controlled by the DEA.
Thus, the unregulated status of Delta 8 raises safety issues since the compound is not yet so broadly studied. Products can be mislabelled and contain harmful contaminants. 
As Delta 8 is synthetically produced, this adds another layer of complexity. Finally, when unregulated, Delta 8 products end up in <a href="https://www.benzinga.com/markets/cannabis/24/04/38226058/is-gas-station-weed-on-its-way-out-u-s-cannabis-council-proposes-regulation-of-delta-8-texas-wan">gas stations</a>, and it&#8217;s a <a href="https://www.benzinga.com/markets/cannabis/23/01/30442687/controversial-delta-8-thc-products-garner-2b-in-sales-over-2-years-so-whats-the-problem">profitable business</a>.
Several states have taken different approaches to Delta 8 situation. States like <a href="https://www.benzinga.com/markets/cannabis/21/11/23881344/its-official-new-york-bans-delta-8-thc-products-allows-hemp-flower-sales">New York </a>and <a href="https://www.benzinga.com/markets/cannabis/21/05/21262790/colorado-and-new-york-join-other-states-banning-hemp-based-delta-8-thc">Colorado</a> have banned it outright, citing safety concerns and the need for better regulation. South Dakota has also banned the sale of Delta 8 and other unregulated hemp products. 
Other states, such as Connecticut have imposed <a href="https://www.benzinga.com/markets/cannabis/24/07/39623568/minnesotas-expungement-new-medical-marijuana-plan-nevada-disqualifies-cannabis-lounges-connectic">severe restrictions</a>, while some have done nothing, allowing the product to remain in a legal gray area. New Jersey is now allowing it for adult-use beverages.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/21/05/21262790/colorado-and-new-york-join-other-states-banning-hemp-based-delta-8-thc">Colorado And New York Join Other States Banning Hemp Based Delta-8 THC</a></li>
</ul>
Cannabis rescheduling seems to be right around the corner. This will have a significant impact on cannabis regulatory landscape. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a>&nbsp;before prices surge by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a><a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

Delta 8 THC Hemp Regulation Moves Forward In NJ, Sparks Debate Between Alcohol And Cannabis Industry

SPX Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXC#NYSE">SPXC</a>) has outperformed the market over the past 5 years by 20.77% on an annualized basis producing an average annual return of 33.93%. Currently, SPX Techs has a market capitalization of $6.62 billion. 
Buying $100 In SPXC: If an investor had bought $100 of SPXC stock 5 years ago, it would be worth $429.43 today based on a price of $143.30 for SPXC at the time of writing.
<h3>SPX Techs's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720121445_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.

SPXC

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

Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) has outperformed the market over the past 20 years by 7.58% on an annualized basis producing an average annual return of 15.88%. Currently, Teledyne Technologies has a market capitalization of $18.37 billion. 
Buying $1000 In TDY: If an investor had bought $1000 of TDY stock 20 years ago, it would be worth $19,471.09 today based on a price of $387.28 for TDY at the time of writing.
<h3>Teledyne Technologies's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720121440_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 This Stock 20 Years Ago Would Be Worth $19,000 Today

<a href="https://www.wsj.com/business/deals/investor-group-raises-macys-buyout-offer-again-69988d03" title="https://www.wsj.com/business/deals/investor-group-raises-macys-buyout-offer-again-69988d03">https://www.wsj.com/business/deals/investor-group-raises-macys-buyout-offer-again-69988d03</a>

Wall Street Journal Reported Wednesday, Arkhouse, Brigade Raised Offer For Macy's To  $24.80/Share From $24,/Share Prior Offer

Signs are emerging that the market boom surrounding artificial intelligence (AI) might be taking on the <a href="https://www.benzinga.com/top-stories/24/07/39601364/ai-surge-sparks-fears-of-dot-com-like-bubble-burst">characteristics of a bubble</a>.
This warning comes from Wall Street veteran investor Ed Yardeni, President of Yardeni Research, Inc., in a note <a href="https://www.benzinga.com/topic/ed-yardeni">to clients on July 4.</a>
&#8220;While we love the productivity-enhancing possibilities that AI offers, the AI phenomenon has many of the hallmarks of an inflating bubble,&#8221; Yardeni cautioned. 
He noted that there are &#8220;big bucks chasing the AI dream,&#8221; with substantial funds directed toward companies leveraging AI technology.
<h3 class="wp-block-heading">&#8216;Too Much Capital Can End Even The Best Of Parties&#8217;</h3>
This year alone, Yardeni Research highlighted several advancements AI can achieve:
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recently introduced Omniverse Cloud Sensor RTX, new AI simulation software to improve safety, reduce costs, and expedite the training of autonomous driving systems.</li>
<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) plans to integrate ChatGPT Enterprise across its organization to revolutionize business processes.</li>
<li>Couples are now using ChatGPT to plan weddings, bypassing the traditional, costly wedding planner. ChatGPT assists in creating wedding websites, writing vows, and managing budgets.</li>
<li>Los Angeles plans to test AI-powered cameras on Metro buses this summer to ticket drivers illegally parked in bus lanes.</li>
<li>AI is also aiding teachers in developing lesson plans and grading papers.</li>
</ul>
&#8220;But at some point, too much capital can end even the best of parties,&#8221; Yardeni remarked, signaling the potential pitfalls of overinvestment.
Yardeni pointed out that hundreds of small companies have raised billions from venture capitalists eager to find the next ChatGPT. 
In the past three years, $330 billion has been invested in 26,000 AI startups, a 66% increase from the $200 billion spent on 20,350 startups from 2018-2020. 
Last year, generative AI deals attracted $21.8 billion, a fivefold increase from 2022.
<h3 class="wp-block-heading">Expectations Running Wild</h3>
&#8220;Many AI newcomers have yet to turn a profit,&#8221; Yardeni warned, suggesting that the AI-driven rally has largely been fueled by profit expectations rather than current earnings. 
The semiconductor industry, which saw only 0.2% earnings growth in 2023, is projected to grow earnings by 47.5% this year and 38.8% in 2025, according to Yardeni&#8217;s latest estimates.
Several companies are running out of funds, including Stability AI. The startup <a href="https://www.cnbc.com/2024/04/18/ai-startup-stability-lays-off-10percent-of-employees-after-ceo-exit.html">reportedly</a> laid off employees and recently saw its CEO depart.
&#8220;Fortunately, most of these companies haven't borrowed debt in the capital markets, so a repeat of the telecom bust is unlikely,&#8221; Yardeni noted. 
However, if AI startups run out of cash, their suppliers could see AI-related revenues dry up quickly, generating a domino effect on the overall industry. 
<h3 class="wp-block-heading">The Rockstar Factor</h3>
&#8220;We're the first to agree that widespread adoption of AI will be a game-changer for many industries,&#8221; Yardeni stated. 
&#8220;But tech CEOs are making some pretty wild claims. Is the potential of AI really all they're cracking it up to be?&#8221;
Yardeni highlighted that AI has its &#8220;rockstars,&#8221; including Nvidia's Jensen Huang, ChatGPT's Sam Altman, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)'s Elon Musk. 
He recalled how ChatGPT CEO Sam Altman compared AI to the discovery of agriculture and the industrial revolution. Yardeni predicts that AI will significantly boost productivity and help global GDP grow 7% annually, doubling within a decade.
Indeed, AI will enhance productivity and economic growth. But Yardeni questions the feasibility of doubling the world&#8217;s economy in such a short time.
&#8220;Doubling the size of the world economy in a decade is quite a claim,&#8221; Yardeni stated.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39630828/openais-chatgpt-macos-app-had-a-major-security-flaw-conversations-were-stored-in-plain-text">OpenAI&#8217;s ChatGPT macOS App Had A Major Security Flaw: Conversations Were Stored In Plain Text</a></li>
</ul>

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AI Has 'The Hallmarks Of An Inflating Bubble,' Warns Veteran Wall Street Investor

Biomarin Pharmaceutical's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NYSE">BMRN</a>) short percent of float has risen 17.39% since its last report. The company recently reported that it has 3.56 million shares sold short, which is 1.89% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.12 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Biomarin Pharmaceutical Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720120520_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Biomarin Pharmaceutical has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Biomarin Pharmaceutical's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Biomarin Pharmaceutical's peer group average for short interest as a percentage of float is 6.35%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.