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Thunder Power Holdings Inc is engaged in the design and development of high-performance electric vehicles.

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Thunder Power Holdings, Inc. - Common Stock

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Former Speaker Kevin McCarthy (R-Calif.) has expressed skepticism over the Senate confirmation of President-elect Trump&#8217;s nominee for attorney general, former Rep. Matt Gaetz (R-Fla.).
What Happened: McCarthy, a staunch Trump ally, voiced his doubts during a Bloomberg Television <a href="https://www.youtube.com/watch?v=WqzijZSqwXY&amp;ab_channel=BloombergTelevision">interview</a>. Despite his overall approval of Trump&#8217;s Cabinet picks, he singled out Gaetz, stating, &#8220;Gaetz won&#8217;t get confirmed. Everybody knows that.&#8221;
He also hinted at Gaetz&#8217;s lack of popularity within the Republican conference, implying that his nomination wouldn&#8217;t carry much weight.
&#8220;You'd have to ask the president, but Gaetz couldn't win in a Republican conference, so it doesn't matter.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ted Cruz Says Running DOGE Won&#8217;t Be A Cake Walk, Offers Reading Advice To Elon Musk</a>
The nomination has caught many Senate Republicans off guard, with some expressing doubts about Gaetz&#8217;s potential confirmation. These concerns are likely to revolve around the Department of Justice&#8217;s previous investigation into allegations of sexual misconduct against Gaetz. Despite the investigation being closed last year without charges, the controversy could still affect the confirmation process.
Why It Matters: President-elect Trump&#8217;s nomination of Gaetz as attorney general, <a href="https://www.benzinga.com/news/legal/24/11/41956594/matt-gaetz-is-trumps-attorney-general-pick-would-be-top-cop-is-under-house-ethics-investigation">came as a surprise</a> to many. Gaetz, a controversial figure, is known for his radical proposals, including a bill to allow federal <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41964758/trumps-attorney-general-pick-matt-gaetz-once-proposed-collecting-federal-income-taxes-in-bitcoin-apart-from-co-sponsoring-bill-to-abolish-the-fed">income tax payments</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
The relationship between McCarthy and Gaetz has been fraught with tension. Gaetz <a href="https://www.benzinga.com/news/23/10/35043900/matt-gaetz-challenges-kevin-mccarthys-leadership-response-from-the-house-speaker-bring-it-on">led an effort</a> to remove McCarthy from his speakership position. McCarthy has <a href="https://www.benzinga.com/news/24/04/38175658/kevin-mccarthy-ties-gaetzs-sexual-misconduct-allegations-to-his-speaker-ouster">linked his removal</a> from the Speaker position to the sexual misconduct allegations against Gaetz.
Photo by Consolidated News Photos on Shutterstock
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</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>

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Kevin McCarthy Says Matt Gaetz Won't Get Confirmed By The Senate And 'Everybody Knows That'

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
Photo: Shutterstock

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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Dividends

Nike Raised Quarterly Dividend From $0.37 To $0.40

The pre-roll market, now surpassing $1.5 billion in annual sales, has become one of the fastest-growing and most competitive segments in cannabis. With a flood of brands vying for consumer attention, standing out in this sea of products is no easy feat. Custom Cones USA, however, is tackling this challenge head-on.&nbsp;
By offering pre-roll solutions at scale, they're helping businesses navigate the crowded market and find their niche.
But it's not just about volume. Custom Cones USA is setting itself apart with innovations like cannabis humidors, designed to keep products fresher for longer—a critical factor in ensuring quality and building consumer trust. As CEO Harrison Bard shared with Benzinga Cannabis, the company's mission is clear: to fuel the growth of the pre-roll category while giving brands the tools they need to thrive.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Custom Made: Glass Tips, Flavored Tips, And… Fusilli Noodle Tips</h3>
With dispensary shelves overflowing, how can brands truly stand out? Is it possible to balance large-scale production with unique, artisanal designs? Custom Cones USA has built its reputation on flexibility, offering tailored solutions to meet diverse client needs.&nbsp;
Bard shared some of the more unusual requests they've received over the years, including a proposal for filter tips shaped like fusilli noodles. "We considered it, but the concerns around food import regulations and potential insect issues made us decline," Bard noted with a laugh.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-1024x683.jpg" alt="" class="wp-image-641591" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Courtesy of Custom Cones USA</figcaption></figure>
Beyond the quirky requests, the company offers a wide range of customization options, from colored tips and designer cones in various shades to themed products for holidays and special events.&nbsp;
They also provide ceramic and glass filter tips for premium offerings, allowing brands to elevate their pre-rolls with distinct, high-quality touches. "We can accommodate everything from small, bespoke orders for craft farms to bulk shipments for large MSOs, giving our clients the flexibility they need to differentiate their products," Bard explained.
Read Also:<a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do"> How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Supply Chain And Design Rolled Into One&nbsp;</h3>
Operating in a<a href="https://www.benzinga.com/markets/cannabis/24/10/41523813/cannabis-pre-rolls-set-to-hit-4-billion-by-2025-will-us-market-follow-canadas-lead"> high-demand market</a>, Custom Cones USA has faced unique supply chain challenges, particularly with niche products. Thus, the company maintains a robust inventory of core items like 109mm, 98mm, and 84mm cones, often holding two to three months of supply domestically.&nbsp;
In response to the increasing demand for custom designs, Custom Cones USA offers a graphic design service that streamlines the process for clients.&nbsp;
Bard explained, "We provide a full design service or support clients who prefer using tools like Canva. As long as they can provide a vector file, we handle the rest." This flexibility allows small businesses and large operators alike to create unique branded products without excessive lead times or high minimum orders.
<h3 class="wp-block-heading">Pre-Rolls For All&nbsp;</h3>
Innovative products like ceramic and glass filter tips, along with flavored wooden tips, are part of the company's strategy to meet evolving consumer preferences. "We're seeing a growing interest in premium tip sections, and we're the only company offering these high-quality, in-stock options," Bard explained.
From bespoke color-tip cones for small craft brands to large-scale orders for major multi-state operators (MSOs), Custom Cones USA caters to a wide range of clients. "We offer the lowest minimum order quantities in the industry, making it accessible for both small mom-and-pop shops and large MSOs," Bard said.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-1024x683.jpg" alt="" class="wp-image-641592" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Looking ahead, Custom Cones USA is making a significant pivot towards consumer products. The company launched DaySavers, a brand focused on providing safe, compliant smoking accessories.&nbsp;
"There are no regulations for smoking accessories like blunt wraps or palm leaf products, which often fail tests for heavy metals and pesticides," Bard pointed out. DaySavers aims to fill this gap, offering products that are independently tested to meet safety standards.
Read Also:<a href="https://www.benzinga.com/general/biotech/24/08/40298228/think-you-can-do-it-all-20-000-reasons-why-automation-outperforms-a-broad-approach-in-cannabis"> Think You Can Do It All? 20,000 Reasons Why Automation Outperforms A Broad Approach In Cannabis</a>
<h3 class="wp-block-heading">Fresh Lettuce&nbsp;</h3>
Bard highlighted Custom Cones will be bringing a <a href="https://www.benzinga.com/markets/cannabis/24/06/39508155/900-pre-rolls-per-hour-upgrade-from-manual-to-automatic-speeds-up-joint-production-enhances-marg">significant innovation for the cannabis industry</a>: the adoption of humidors.&nbsp;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1000" height="1000" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012.jpg" alt="" class="wp-image-641587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012.jpg 1000w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012-300x300.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012-150x150.jpg 150w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012-768x768.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /><figcaption class="wp-element-caption">Courtesy of Custom Cones USA</figcaption></figure>
"<a href="https://customconesusa.com/black-series-humidor-1310-perfect-for-cannabis-pre-roll-blunts-and-hemp-wraps/">Humidors</a> are already common in cigar shops, and we see a similar trend emerging for cannabis," Bard shared.&nbsp;
Custom Cones USA recently launched a line of cannabis humidors, which Bard believes could become a standard feature in dispensaries within the next decade. These devices help maintain freshness and could potentially reduce the need for airtight, less eco-friendly packaging.
The company is also exploring new infusion technologies. "We're excited about the possibilities of bringing<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36268367/u-s-cannabis-market-premium-products"> infused</a> papers back into our portfolio, as it aligns with our commitment to innovation and quality," Bard revealed.
As the holiday season approaches, Custom Cones USA is ramping up its efforts to meet demand.&nbsp;
"Our preparation involves maintaining a strong inventory and leveraging advanced logistics," Bard explained. "Our flavored cones and premium ceramic tips have been particularly popular, and we anticipate even higher demand this year," he concluded.&nbsp;
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton"> X-Rays, Microwaves And Now What? This Company Freezes Weed At -320°F To Kill Mold And Save A Ton</a>

Cannabis

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Retail Sales

Management

Success Stories

Small Business

Exclusives

Interview

Can Pre-Roll Humidors Save Your Cannabis Brand? Custom Cones USA Says Yes

Draganfly (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPRO#NASDAQ">DPRO</a>) reported quarterly losses of $(0.04) per share which beat the analyst consensus estimate of $(1.16) by 96.55 percent. This is a 98.4 percent increase over losses of $(2.50) per share from the same period last year. The company reported quarterly sales of $1.38 million which missed the analyst consensus estimate of $2.25 million by 38.58 percent. This is a 13.30 percent decrease over sales of $1.59 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

DPRO

Draganfly Q3 EPS $(0.04) Beats $(1.16) Estimate, Sales $1.38M Miss $2.25M Estimate

Editor&#8217;s Note: The article was changed to reflect Renaissance Technologies, not Jim Simons, who passed away in May 2024.
In its third-quarter update, Renaissance Technologies, founded by the late <a href="https://www.benzinga.com/topic/jim-simons">famed "Quant King</a>&#8221; Jim Simons, showcased some notable pivots within its $66.5 billion portfolio.
<h1 class="wp-block-heading">Microsoft Stake, Trims Other Tech Names</h1>
Renaissance Technologies increased its stake in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), betting on the tech giant's expansion in cloud and AI sectors, Renaissance revealed in a <a href="https://www.sec.gov/Archives/edgar/data/1037389/000103738924000091/xslForm13F_X02/primary_doc.xml">Wednesday SEC filing</a>.
At the same time, the company pared back investments in high-growth stocks such as Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). Nvidia's AI boom and Tesla's market lead in EVs didn't deter the company from reducing exposure, perhaps as a hedge against market corrections.
Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) was also scaled back, suggesting Renaissance might be positioning itself more defensively as tech valuations reach historic highs.
Renaissance's move to fortify positions in well-established tech names could signal a more cautious stance on speculative growth.
<h1 class="wp-block-heading">Palantir Takes The Lead In Renaissance's Portfolio</h1>
Among all the holdings, Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) now stands as Renaissance's largest position, making up 2.15% of the portfolio. Known for its deep government contracts and burgeoning AI applications, Palantir's data-centric profile aligns well with Renaissance&#8217;s quant-driven approach.
This shift highlights a strategic tilt toward resilient, data-focused tech plays, reflecting the company&#8217;s long-term confidence in the power of predictive analytics and secure data solutions.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41972288/can-palantir-sustain-its-300x-valuation-after-climbing-266-this-year">Can Palantir Sustain Its 300X Valuation After Climbing 266% This Year?</a>
<h1 class="wp-block-heading">Top Buys: Microsoft, Apple, Cisco</h1>
Alongside Microsoft, Renaissance added significantly to Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>). This trio signals a preference for big-cap stability in a year marked by market volatility.
While Microsoft's AI and cloud growth makes it a solid pick, Apple and Cisco bring diverse revenue streams, from consumer tech to networking infrastructure, giving Renaissance a balanced tech exposure.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41973572/ray-dalios-bridgewater-cuts-stake-in-microsoft-stock-by-20-is-big-tech-losing-its-shine">Ray Dalio&#8217;s Bridgewater Cuts Stake In Microsoft Stock By 20% – Is Big Tech Losing Its Shine?</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Hedge Funds

Tech

AAPL

CSCO

MSFT

NVDA

PLTR

Renaissance Technologies Shifts Gears: Microsoft In, Tesla Out, Palantir On Top [CORRECTED]

Cryptocurrency markets are trading lower, with Bitcoin struggling to stay above the $90,000 mark.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td> $88,093.00</td>
<td>-3.3%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$3,108.09&nbsp;&nbsp;</td>
<td>-2.6%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$213.75</td>
<td>+0.2%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td> $0.3876</td>
<td>-1%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00002487</td>
<td>-1.7%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume falling by 9.5% and daily active addresses dropping by 13.4%. Transactions greater than $100,000 are down from 17,408 to 19,527 in a single day. Exchanges netflows are down by 165.7%.</li>
<li>Coinglass data reports 174,278 traders were liquidated in the past 24 hours for $498.48 million.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/news/events/24/11/41978078/mica-regulation-expected-to-drive-institutional-interest-in-european-crypto-market">MiCA Regulation Expected To Drive Institutional Interest In European Crypto Market</a></li>
<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41984593/bitcoin-miner-hut-8-shares-dip-despite-strong-q3-analysts-remain-bullish-on-ai-crypto-potential">Bitcoin Miner Hut 8 Shares Dip Despite Strong Q3; Analysts Remain Bullish On AI, Crypto Potential</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41976407/ben-horowitz-the-biden-regulators-lied-about-crypto">Ben Horowitz: &#8216;The Biden Regulators Lied About Crypto&#8217;</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41959476/fbi-raids-polymarket-ceo-over-crypto-betting-platforms-us-activities-he-fires-back-in-the-face-of-adversity-we-build">FBI Raids Polymarket CEO Over Crypto Betting Platform&#8217;s US Activities — He Fires Back: &#8216;In The Face Of Adversity, We Build&#8217;</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td> $0.00002209</td>
<td>16.5%</td>
</tr>
<tr>
<td>Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>)</td>
<td> $0.147</td>
<td>15.4%</td>
</tr>
<tr>
<td>Kaspa (CRYPTO: KAS)</td>
<td> $0.147</td>
<td>14.6%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices dropping below the $90,000 mark, crypto chart analyst Ali Martinez sees $5.42 billion in Bitcoin profits having been realized, which pushed the sell-side risk ratio to 0.524%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$5.42 billion in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> profits have been realized, and the sell-side risk ratio has surged to 0.524%. Stay alert and proceed with caution! <a href="https://t.co/wQiUzbXG4f">pic.twitter.com/wQiUzbXG4f</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1857080800296276445?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">More Crypto Online <a href="https://x.com/CrypNuevo/status/1857132425958089033">stated</a> that if Bitcoin price fails to hold at $88,050, it likely signals the start of wave 4, with expected support at $81,500. However, if Bitcoin breaks below $85,000, it will indicate that further upward movement in wave 3 is unlikely.</figcaption></figure>
Crypto trader CrypNuevo <a href="https://x.com/Morecryptoonl/status/1857077141508141563">sees</a> a potential spike to the $95,000-$96,000 range for Bitcoin as a shorting opportunity. He anticipates a pullback when sentiment builds around reaching $100,000. For long positions, the trader plans to analyze BTC dominance (BTC.D) to decide whether to focus on Bitcoin or altcoins.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41969740/bitcoin-stays-above-91000-but-one-technical-indicator-spells-trouble">Bitcoin Stays Above $91,000—But One Technical Indicator Spells Trouble</a></li>
</ul>

$BRETT

$DOGE

$ETH

$PEPE

$SHIB

$SOL

Bitcoin, Ethereum, Dogecoin Turn Red, Trader Marks 'Ideal Support Level At $81,500'

The U.S. Securities and Exchange Commission (SEC) is too tough on crypto, 18 Attorneys General allege <a href="https://www.benzinga.com/topic/law">in a new lawsuit</a>. 
What Happened: AGs from 18 Republican-leaning states joined the DeFi Education Fund to file a lawsuit against the SEC for what they consider overly harsh regulation against digital assets.
The plaintiffs are complaining that the SEC, led by Chairman Gary Gensler, is exceeding its authority in an attempt to regulate <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41680397/who-will-replace-gary-gensler-the-top-candidates-for-sec-chair-after-the-election">the entire cryptocurrency sector.</a>
The lawsuit contends that the SEC's expansive approach lacks Congressional authorization, which would be necessary for it to assume such sweeping control.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41986427/pennsylvania-introduces-bitcoin-strategic-reserve-act-to-invest-up-to-700-million-in-btc">Pennsylvania Introduces Bitcoin Strategic Reserve Act To Invest Up To $700 Million In BTC</a>
According to the states, the SEC's "regulation by enforcement" strategy has hindered the growth of a sector.
The complaint states, "The SEC's assertion of sweeping jurisdiction without congressional authorization deprives States of their proper sovereign role and chills the development of innovative regulatory frameworks for the digital asset industry."
The lawsuit also challenges the SEC's enforcement actions, alleging that they lack clear standards and impose undue burdens on industry participants. 
This has resulted in significant financial harm, with some companies moving operations overseas due to regulatory uncertainty, the plaintiffs argue. 
The SEC's regulatory stance &#8220;threatens to displace better-suited state laws that have been carefully designed to ensure consumer protection in the digital asset industry,&#8221; they added.
The timing of the suit coincides with a growing national conversation on digital asset regulation, especially as Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> conference approaches on Nov. 19, where key industry stakeholders and policymakers will discuss the future of cryptocurrency regulation in the U.S.
The states seek declaratory and injunctive relief, urging a return to a state-led regulatory approach that would foster innovation and protect consumers without overstepping federal boundaries.
<h3 class="wp-block-heading">Who&#8217;s Suing?</h3>
The plaintiffs in the lawsuit against the SEC include:
<ul>
<li>Kentucky (AG Russell Coleman)</li>
<li>Nebraska (AG Michael T. Hilgers)</li>
<li>Tennessee (AG Jonathan Skrmetti)</li>
<li>West Virginia (AG Patrick Morrisey)</li>
<li>Iowa (AG Brenna Bird)</li>
<li>Texas (AG Ken Paxton)</li>
<li>Mississippi (AG Lynn Fitch)</li>
<li>Montana (AG Austin Knudsen)</li>
<li>Arkansas (AG Tim Griffin)</li>
<li>Ohio (AG David Yost)</li>
<li>Kansas (AG Kris W. Kobach)</li>
<li>Missouri (AG Andrew Bailey)</li>
<li>Indiana (AG Theodore E. Rokita)</li>
<li>Utah (AG Sean D. Reyes)</li>
<li>Louisiana (AG Elizabeth B. Murrill)</li>
<li>South Carolina (AG Alan Wilson)</li>
<li>Oklahoma (AG Gentner Drummond)</li>
<li>Florida (AG Ashley Moody)</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41985685/investor-loses-25m-due-to-misplaced-crypto-transfer-says-cexs-feel-more-secure">Investor Loses $25M Due To Misplaced Crypto Transfer, Says CEXs Feel More Secure</a></li>
</ul>
Image: Securities and Exchange Commission offices. Photo via Shutterstock.

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

Cryptocurrency

Legal

18 Republican States Sue Biden's SEC Over Harsh Crypto Crackdown

A new report from the Anti-Defamation League (ADL) has called attention to the prevalence of extremist and hateful content on Steam, accusing the platform of enabling the <a href="https://www.benzinga.com/general/gaming">spread of such material. </a>
<a href="https://www.adl.org/resources/report/steam-powered-hate-top-gaming-site-rife-extremism-antisemitism">According</a> to the ADL's findings, over 1.8 million instances of hate-related content, including Nazi imagery and support for terrorist organizations like ISIS and Hamas, were discovered during an &#8220;unprecedented&#8221; analysis of Steam&#8217;s vast user base.
Benzinga has reached out to Valve Corporation, the platform&#8217;s parent company, for comment, but the company had not responded at time of publication.
See Also: <a href="https://www.benzinga.com/general/gaming/24/11/41952020/76-of-children-plan-to-ask-for-video-games-this-christmas-survey-shows">76% Of Children Plan To Ask For Video Games This Christmas, Survey Shows</a>
The report, published on the ADL&#8217;s website, offers a sweeping look at the types of content found across the platform.
Over the course of its investigation, the ADL examined 458 million user profiles, 152 million group avatars and more than 610 million comments from users. Among the most concerning discoveries were antisemitic symbols, white supremacist propaganda and support for extremist groups, including thousands of mentions of ISIS and Hamas.
In addition to the hateful imagery, the ADL uncovered troubling use of offensive keywords such as "1488," "shekel" and "white power," with nearly 185,000 specific terms identified in extremist contexts. In total, 1.5 million unique users and over 73,000 groups were found to have shared such content.
Despite these alarming findings, the ADL points out a critical gap in Steam&#8217;s content moderation policies. While Valve explicitly prohibits hate speech in its developer and community guidelines — stating that it forbids &#8220;speech that promotes hatred, violence or discrimination&#8221; — the ADL argues that enforcement of these rules remains inconsistent.
<h1 class="wp-block-heading">Valve's Moderation Tools Under Scrutiny</h1>
The ADL&#8217;s report goes on to question the effectiveness of Valve&#8217;s moderation efforts. While the company employs filters and automated tools to screen user-profiles and comments, these measures are not universally applied across all areas of the platform.
Notably, users can disable filters, making it easier for harmful content to slip through the cracks. Furthermore, the ADL asserts that Valve's keyword detection system can easily be evaded, with users modifying words or using ASCII (American Standard Code for Information Interchange) art to circumvent moderation systems.
&#8220;While Steam appears to be technically capable of moderating extremist and hateful content on its platform, the spread of extremist content on the platform is due in part to Valve&#8217;s highly permissive approach to content policy,&#8221; the ADL stated. 
It also pointed out that, in rare instances, Valve has taken down extremist content, but this has often occurred only after external pressure or media attention, rather than as part of a consistent, proactive strategy.
<h1 class="wp-block-heading">Calls For Change In Valve&#8217;s Platform</h1>
The organization has called for a significant overhaul of the company's content governance, urging Valve to implement policies that explicitly prohibit hate and extremism, conduct thorough audits of their moderation practices, and collaborate with researchers and civil society to improve their approach.
&#8220;Major gaming companies are selling their wares on a platform that is not addressing users&#8217; support of extremists and allowing the proliferation of hate,&#8221; Daniel Kelley, the ADL's director of strategy and operations, remarked in an <a href="https://www.bloomberg.com/news/articles/2024-11-14/white-supremacist-nazi-content-spread-on-steam-gaming-platform?srnd=undefined">interview</a> with Bloomberg. 
&#8220;This increases the likelihood that someone will travel all the way down the rabbit hole,&#8221; Kelley added.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/11/41914135/valves-steam-deck-oled-gets-makeover-heres-what-you-need-to-know">Valve&#8217;s Steam Deck OLED Gets Makeover: Here&#8217;s What You Need To Know</a></li>
</ul>
Photo: Shutterstock

Gaming

1.8 Million Instances Of Hate Content On Steam — Is Valve Ignoring Extremism?: Report

Former DoorDash Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) delivery workers are claiming they haven't been paid thousands of dollars in wages from past years and are seeking protection from deportation after Donald Trump's recent win in<a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election"> the 2024 election.</a>
 What Happened: A group of 95 delivery workers claim they were not paid their wages by DoorDash, one of the leading<a href="https://www.benzinga.com/topic/food-delivery"> food delivery companies</a> in the U.S., or by Motoclick, a smaller food delivery company.
Wage theft claims filed claim the workers were not paid more than $78,000 in wages, according to a <a href="https://gothamist.com/news/nyc-delivery-workers-filing-wage-theft-claims-seek-protection-from-deportation-under-trump">report </a>from Gothamist.
"We're not able to pay the rent or send money to our families in our own countries," Juan Iturbide, a former DoorDash delivery worker said.
Iturbide filed his claim against DoorDash with New York City's Department of Consumer and Worker Protection in 2023 according to a <a href="https://documentedny.com/2024/11/13/doordash-immigrant-delivery-workers-stolen-wages/">report </a>from DocumentedNY.
"Delivery work is one of the most dangerous occupations in the city. In addition to risking our lives, we shouldn't have to worry about being robbed by such a wealthy company," Itrubide said, as reported by DocumentedNY. "We deserve to be paid for the service we provide."
The former delivery worker said he is owed around $1,500 by DoorDash in unpaid wages. Iturbide was deactivated by DoorDash in 2021 after five years working as a delivery driver.
Several of the workers, including Iturbide protested outside DoorDash's Manhattan headquarters on Wednesday.
One of the concerns of labor organizers helping the workers is that many claiming lost wages are immigrants without work authorization in the U.S. Bringing the claims forward could put the workers more at risk of deportation under Trump in his second presidential term, according to the report.
"If the federal government is going to fail workers, workers are going to need the protection of city and state agencies to hold these multibillion-dollar companies accountable," Worker's Justice Project executive director Ligia Guallpa said.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41638196/doordash-stock-dips-slightly-after-better-than-expected-q3-results">DoorDash Stock Dips Slightly After Better-Than-Expected Q3 Results</a>
Why It's Important: The claims of unpaid wages could reignite the debate of whether food delivery workers are employees or independent contractors and comes with the timing of Trump's election win and deportation promises. The report said that New York City's 60,000 delivery workers are independent contractors.
New minimum wage laws and rules for delivery workers have added to the claims from workers against delivery companies.
The unpaid wages claims have caught the attention of New York City's Department of Consumer and Worker Protection, who sent a letter to the U.S. Department of Homeland Security in September.
The letter said that immigrant workers who have filed claims should be given protection from deportation proceedings and given legal right to work in the U.S.
DoorDash spokesperson Eli Scheinholtz said it takes concerns on wage theft seriously and investigates all claims to make sure the workers "receive what they're owed."
"Here's what we know to be true: Dashers in New York City get paid for the time spent completing work on our platform, in accordance with the city's minimum pay rules. If their pay does not meet the minimum pay rate at the end of the week, then they receive an adjustment — without exception," Scheinholtz said.
DASH Price Action: DoorDash stock closed Thursday down 1.12% at $173.80 versus a 52-week trading range of $92.56 to $178.16. DoorDash stock is up 80.2% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/08/40536496/doordash-delivers-mattresses-college-student-promotion-puts-spotlight-on-better-sleep">DoorDash Delivers Mattresses? College Student Promotion Puts Spotlight On &#8216;Better Sleep&#8217;</a></li>
</ul>
Photo: Shutterstock

DASH

DoorDash Workers Claim Unpaid Wages, Seek Protection From Deportation: 'We're Not Able To Pay The Rent'

Uruguay, the <a href="https://www.benzinga.com/markets/cannabis/23/07/33447320/first-country-to-legalize-weed-celebrates-6-years-of-pot-sales-promised-land-of-cannabis-and-mor">first country in the world</a> to legalize adult-use marijuana in 2013, initially made headlines as a pioneer in <a href="http://benzinga.com/cannabis">cannabis</a> regulation. However, despite early momentum, the industry now faces significant hurdles in export growth, driven by low prices, international trade restrictions and regulatory obstacles. Today, the sector comprises nearly 100 projects and employs around 756 people, with 77% of the workforce based outside the capital.
<h3 class="wp-block-heading">Challenges Impacting Uruguay's Cannabis</h3>
According to a recent <a href="https://www.ambito.com/uruguay/la-industria-del-cannabis-y-sus-desafios-el-escenario-global-n6081303">article</a> in Ámbito Financiero, half of the companies authorized for cultivation and industrialization in 2023 succeeded in <a href="https://www.benzinga.com/markets/cannabis/20/08/16910793/uruguay-exports-1000-pounds-of-cannabis-to-switzerland-announces-new-industry-measures">exporting flowers and medical products</a>. Yet, revenues fell sharply, with a 44% decline from the previous year, totaling just $3 million from 25 tons of hemp sub-products. The dip is largely attributed to low international prices, undermining the financial stability of many enterprises.
The industry remains dominated by small and medium-sized enterprises (SMEs), which account for 96% of the 90 active projects, while only 4% are considered large-scale companies. Despite these challenges, Uruguay managed to rank as the eighth-largest exporter of <a href="http://benzinga.com/topic/medical-cannabis">medical cannabis</a> in 2022, capturing a 2.1% share of the global market with exports of about 15 tons. Nonetheless, production volumes saw a 14% drop compared to the previous year.
<h3 class="wp-block-heading">Regulatory Gaps Hinder Export Growth Amid Business Exits</h3>
As a country with 3.4 million inhabitants, exports play a key role in the growth of the industry. However, one of the major barriers to growth is the restrictive international trade environment. Regulations under the United Nations, combined with diverse national laws, have limited market access and constrained the industry's expansion. The Ámbito Financiero article notes that the absence of a comprehensive regulatory framework has further hampered efforts to increase exports, stifling the potential of Uruguay&#8217;s cannabis <a href="https://www.benzinga.com/markets/cannabis/24/03/37521749/unpacking-the-58b-cannabis-market-boom-bdsa-forecasts-for-2028">in the global marketplace</a>.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Moreover, this challenging landscape has led some companies to exit the market. Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>), for instance, <a href="https://www.benzinga.com/markets/cannabis/24/09/40970562/nasdaq-listed-aurora-cannabis-breaks-up-with-uruguay-its-not-you-its-the-market">announced its departure from Uruguay in September</a>, citing unmet growth criteria. Similarly, the collapse of Pharmin—<a href="https://www.benzinga.com/markets/cannabis/24/09/40958522/multi-million-dollar-cannabis-facility-auctioned-for-the-price-of-a-studio-apartment-whats-going">whose $9.5 million facility sold for a mere $335,000 at auction</a>—highlights the ongoing uncertainty plaguing the sector.
<h3 class="wp-block-heading">Seeking New Investors For Uruguay's $30M Legal Market</h3>
Despite these setbacks, the industry is actively seeking new investors to reinvigorate growth. Uruguay&#8217;s legal cannabis sector still delivers notable benefits, generating approximately $30 million annually—<a href="https://www.benzinga.com/markets/cannabis/24/10/41629360/criminal-organizations-lose-30m-annually-as-uruguays-legal-cannabis-expands-but-some-say-the-gov">funds that once fueled criminal organizations</a>. The introduction of new strains like Épsilon, featuring a 15% THC content, has been met with strong consumer demand.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41852593/the-diamond-in-the-rough-of-latin-american-cannabis-puerto-ricos-success-secret-explained">&#8216;Diamond In The Rough&#8217; Of Latin American Cannabis: Puerto Rico&#8217;s Success Secret Explained</a>
Meanwhile, some Latin American nations are reassessing their cannabis policies, hinting at possible shifts. In July 2023, Brazil <a href="https://www.benzinga.com/markets/cannabis/23/03/31439551/historic-ruling-to-legalize-cannabis-cultivation-in-brazil-these-weed-companies-will-likely-bene">legalized the possession of marijuana</a>, though sales are still illegal. Argentina&#8217;s state-owned company Cannava <a href="https://www.benzinga.com/markets/cannabis/24/07/39739336/govt-owned-cannabis-company-exports-flower-from-argentina-to-eu-australia-secures-purchase-order">secured multi-million-dollar contracts</a> to export medical marijuana flowers to Germany, Australia and Portugal.
As countries in the region debate drug policy reforms, <a href="https://www.benzinga.com/markets/cannabis/23/06/33000216/united-nations-calls-for-end-to-global-war-on-drugs-health-and-human-rights-instead-of-punishmen">global changes</a> could be crucial for unlocking the industry&#8217;s potential. Until then, Uruguay&#8217;s cannabis industry must navigate difficult waters to sustain its growth.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/education/24/11/41891212/7-cannabis-myths-debunked-by-experts-to-empower-users-and-growers">7 Cannabis Myths Debunked By Experts To Empower Users And Growers</a></li>
</ul>
Image created with AI tools.

Latin America

Regulations

Uruguay's Cannabis Industry Struggles Amid Export Barriers, Price Drops

HCW Biologics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCWB#NASDAQ">HCWB</a>) reported quarterly losses of $(0.10) per share. This is a 28.57 percent increase over losses of $(0.14) per share from the same period last year. The company reported $426.42 in sales this quarter. This is a 99.95 percent decrease over sales of $853.10 thousand the same period last year.

HCWB

HCW Biologics Q3 EPS $(0.10) Up From $(0.14) YoY, Sales $426.42 Down From $853.10K YoY

XWELL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XWEL#NASDAQ">XWEL</a>) reported quarterly losses of $(0.99) per share. This is a 64.13 percent increase over losses of $(2.76) per share from the same period last year. The company reported $8.42 million in sales this quarter. This is a 12.77 percent increase over sales of $7.47 million the same period last year.

XWEL

XWELL Q3 EPS $(0.99) Up From $(2.76) YoY, Sales $8.42M Up From $7.47M YoY

Metalla Royalty (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MTA#AMEX">MTA</a>) reported quarterly losses of $(0.01) per share. This is a 75 percent increase over losses of $(0.04) per share from the same period last year. The company reported $1.62 million in sales this quarter. This is a 19.35 percent increase over sales of $1.36 million the same period last year.

Metalla Royalty Q3 EPS $(0.01) Up From $(0.04) YoY, Sales $1.62M Up From $1.36M YoY

Milestone Scientific (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MLSS#AMEX">MLSS</a>) reported quarterly losses of $(0.02) per share which missed the analyst consensus estimate of $(0.01) by 100 percent. This is unchanged from the same period last year. The company reported quarterly sales of $2.51 million which missed the analyst consensus estimate of $2.61 million by 3.75 percent. This is a 22.04 percent increase over sales of $2.06 million the same period last year.

MLSS

Milestone Scientific Q3 EPS $(0.02) Misses $(0.01) Estimate, Sales $2.51M Miss $2.61M Estimate

MSP Recovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIFW#NASDAQ">LIFW</a>) reported quarterly losses of $(1.26) per share. This is a 19.23 percent increase over losses of $(1.56) per share from the same period last year. The company reported $3.67 million in sales this quarter. This is a 733.64 percent increase over sales of $440.00 thousand the same period last year.

LIFW

MSP Recovery Q3 Adj $(1.26) Up From $(1.56) YoY, Sales $3.67M Up From $440.00K YoY

Inhibrx Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INBX#NASDAQ">INBX</a>) reported quarterly losses of $(2.84) per share which beat the analyst consensus estimate of $(3.81) by 25.46 percent. This is a 35.31 percent increase over losses of $(4.39) per share from the same period last year.

INBX

Inhibrx Biosciences Q3 EPS $(2.84) Beats $(3.81) Estimate

CHMI

Cherry Hill Mortgage Investment Begins Operations As Fully Integrated, Internally Managed Mortgage REIT; Plans To Continue To Pursue Management's Execution Of Residential Mortgage Investment Strategy

Everi Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVRI#NYSE">EVRI</a>) ("Everi" or the "Company"), a premier provider of land-based and digital casino gaming content and products, financial technology, player loyalty solutions, and bingo, announced today that its stockholders have voted at a special meeting of Everi stockholders (the "Special Meeting") to approve the pending simultaneous acquisition of Everi and the Gaming &amp; Digital business of International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) (the "Apollo Funds") through a merger. As previously announced, pursuant to the terms of the merger agreement, Everi stockholders will receive $14.25 per share in cash for every share of Everi common stock they own immediately prior to the effective time of the merger.

EVRI

Everi Announces That Its Stockholders Have Voted To Approve The Pending Simultaneous Acquisition Of Everi And The Gaming & Digital Business Of International Game Technology By A Newly Formed Holding Company Owned By Funds Managed By Affiliates Of Apollo Global Management; Everi Stockholders Will Receive $14.25 Per Share In Cash For Every Share Of Everi Common Stock They Own Immediately Prior To The Effective Time Of The Merger

GRI Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRI#NASDAQ">GRI</a>) reported quarterly losses of $(0.67) per share. This is a 98.98 percent increase over losses of $(65.78) per share from the same period last year.

ALPS ETF Trusthen & Steers Global Realty Majors ETF

GRI Bio Q3 EPS $(0.67) Up From $(65.78) YoY

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Thunder Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIEV#NASDAQ">AIEV</a>) stock is on the move Wednesday as investors take notice of the electric vehicle (EV) company shortly after it went public.



Thunder Power shares <a href="https://arc-group.com/thunder-power-holdings-business-combination-nasdaq-listing/">made their public debut</a> on Monday. That happened alongside the closing of a special purpose acquisition company (SPAC) merger with Feutune Light Acquisition Corporation.



This saw Feutune Light Acquisition Corporation act as a vehicle to take shares of AIEV public. That resulted in shares of the SPAC&rsquo;s stock switching to the AIEV stock ticker when markets opened on Monday.



Thunder Power founder Wellen Sham said the following about the company going public.




&ldquo;Our new access to the capital markets will enable the next phase of our vehicle development. Our vehicles, with their innovative design, advanced technology and AI integration, are coming at the perfect time in our focused markets such as Taiwan.&rdquo;




<h2>AIEV Stock Movement Today</h2>



With investors taking note of AIEV stock comes heavy trading of the company&rsquo;s shares. This has more than 28 million units changing hands as of this writing. The company&rsquo;s daily average trading volume is about 304,000 shares.



AIEV stock is up 41.7% as of Wednesday morning.



Investors will find more of the most recent stock market news ready to go below!



We have all of the latest stock market news traders need to know about on Wednesday! A few examples include what&rsquo;s going on with shares of Rivian&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>), Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) and Sphere Entertainment&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/sphr-stock-quote/">SPHR</a>) stock today. All of this news is ready at the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/06/wedbush-just-raised-its-price-target-on-rivian-rivn-stock/">Wedbush Just Raised Its Price Target on Rivian (RIVN) Stock</a></li>



<li><a href="https://investorplace.com/2024/06/stifel-just-initiated-coverage-of-tesla-tsla-stock-what-analysts-have-to-say/">Stifel Just Initiated Coverage of Tesla (TSLA) Stock. What Analysts Have to Say.</a></li>



<li><a href="https://investorplace.com/2024/06/billionaire-steve-cohen-just-took-a-5-5-stake-in-sphere-entertainment-sphr-stock/">Billionaire Steve Cohen Just Took a 5.5% Stake in Sphere Entertainment (SPHR) Stock</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/06/what-is-going-on-with-thunder-power-aiev-stock-today/">What Is Going on With Thunder Power (AIEV) Stock Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

What Is Going on With Thunder Power (AIEV) Stock Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Perion Network (NASDAQ:<a href="https://investorplace.com/stock-quotes/peri-stock-quote/">PERI</a>) layoffs are coming for the company&rsquo;s employees as it seeks to <a href="https://www.calcalistech.com/ctechnews/article/sjdai5d8r">streamline its operations</a>.



Perion Network is cutting 35 jobs from its Israeli search division. This represents 15% of its workforce in that country. The change comes as it seeks to reduce operations amid sliding revenue.



According to Perion Network, these layoffs are the result of Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) changing the advertising revenue around its Bing search engine. This led to lower revenue for the company and required its cost-cutting measures.



Before this change, a large part of the company&rsquo;s revenue came from its collaboration with Microsoft. With this change, it will only account for less than 5% of Perion Network&rsquo;s revenue.



<h2>Perion Joins Layoffs Trend</h2>



Perion Network is the latest company to be affected by ongoing layoffs. This comes as major companies look to cut costs as a way to deal with increased inflation and high interest rates.



It makes sense that Microsoft is looking to cut costs. This makes its advertising changes to do so have a ripple effect that is hitting other businesses. That includes other Bing search partners outside of Perion Network.



PERI stock is up close to 1% as of Wednesday afternoon.



Investors will want to keep reading for more of the most recent stock market stories!



We have all of the hottest stock market news available on Wednesday! Among that is why shares of Ginkgo Bioworks&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/dna-stock-quote/">DNA</a>), Rivian&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) and Thunder Power&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/aiev-stock-quote/">AIEV</a>) stock are in the news. You can catch up on all of this news at the following links!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/06/ginkgo-bioworks-layoffs-expand-to-400-job-cuts/">Ginkgo Bioworks Layoffs Expand to 400 Job Cuts</a></li>



<li><a href="https://investorplace.com/2024/06/rivian-gives-lucid-motors-lcid-stock-a-jolt-after-volkswagen-deal/">Rivian Gives Lucid Motors (LCID) Stock a Jolt After Volkswagen Deal</a></li>



<li><a href="https://investorplace.com/2024/06/what-is-going-on-with-thunder-power-aiev-stock-today/">What Is Going on With Thunder Power (AIEV) Stock Today?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT766411">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
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	The post <a href="https://investorplace.com/2024/06/perion-layoffs-2024-what-to-know-about-the-latest-peri-job-cuts/">Perion Layoffs 2024: What to Know About the Latest PERI Job Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Perion Layoffs 2024: What to Know About the Latest PERI Job Cuts

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Ginkgo Bioworks (NYSE:<a href="https://investorplace.com/stock-quotes/dna-stock-quote/">DNA</a>) layoffs continue today with the cell programming company announcing additional job cuts.



The latest update to the Ginkgo Bioworks layoffs reveals that the company is planning to cut at least 35% of its workers. That comes to <a href="https://www.nbcboston.com/boston-business-journal/ginkgo-job-cuts-to-hit-at-least-35-of-workforce-as-many-as-400-jobs-to-be-cut/3409620/">roughly 400 employees</a> based on its last total headcount of 1,218 people.



Ginkgo Bioworks notes that these layoffs are <a href="https://www.nbcboston.com/boston-business-journal/ginkgo-job-cuts-to-hit-at-least-35-of-workforce-as-many-as-400-jobs-to-be-cut/3409620/">part of a restructuring plan</a>. This will see some of the job cuts happening in 2025 as it continues to alter its business. However, the initial job cuts will begin this month.



Ginkgo Bioworks says it will suffer $12 million in severance and related separation costs as part of its initial job cuts. The company also says it expects labor costs to decrease by 25% after its restructuring.



<h2>More Ginkgo Bioworks Layoffs</h2>



The expanded layoffs announced by Ginkgo Bioworks come after others were announced earlier this week. That included plans to <a href="https://investorplace.com/2024/06/ginkgo-bioworks-layoffs-2024-what-to-know-about-the-latest-dna-job-cuts/">cut 158 workers</a>. These are included in the larger number of layoffs announced by the company today.



DNA stock is down 10.6% as of Wednesday afternoon. That comes with over 52 million shares traded. This is above its daily average trading volume of about 48.5 million shares.



There are more stock market stories traders are going to want to read about below!



We have all of the hottest stock market news investors need to know about on Wednesday! That includes all of the latest happenings for Thunder Power&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/aiev-stock-quote/">AIEV</a>) stock, Rivian&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) stock and Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) stock. You can catch up on all of that news below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/06/what-is-going-on-with-thunder-power-aiev-stock-today/">What Is Going on With Thunder Power (AIEV) Stock Today?</a></li>



<li><a href="https://investorplace.com/2024/06/wedbush-just-raised-its-price-target-on-rivian-rivn-stock/">Wedbush Just Raised Its Price Target on Rivian (RIVN) Stock</a></li>



<li><a href="https://investorplace.com/2024/06/stifel-just-initiated-coverage-of-tesla-tsla-stock-what-analysts-have-to-say/">Stifel Just Initiated Coverage of Tesla (TSLA) Stock. What Analysts Have to Say.</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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					</li>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
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					</div>
	The post <a href="https://investorplace.com/2024/06/ginkgo-bioworks-layoffs-expand-to-400-job-cuts/">Ginkgo Bioworks Layoffs Expand to 400 Job Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Ginkgo Bioworks Layoffs Expand to 400 Job Cuts

The latest announcement is out from Thunder Power Holdings Inc Class A (AIEV). On June 21, 2024, Feutune Light Acquisition Corporation, soon to be ...

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An update from Thunder Power Holdings Inc Class A (AIEV) is now available. FLFV has undergone a significant transformation, changing its name to Th...

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Thunder Power enters into $100M equity facility

Thunder Power Holdings Inc Class A (AIEV) has shared an announcement. Thunder Power Holdings, Inc. has struck a deal with Westwood Capital Group LL...

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Thunder Power Holdings reports Q2 results

17:18 EST Thunder Power (AIEV) files to sell 17.62M shares of common stock for holders Published first on TheFly – the ultimate source for real-tim...

Thunder Power files to sell 17.62M shares of common stock for holders

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FCCN

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HLIO

KRUS

MANU

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PERI

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Press Releases

Thunder Power Holdings, Inc. Announces Consummation of Business Combination and Commencement of Trading on Nasdaq

Thunder Power Enters Into $100 Million Committed Equity Facility

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