Alibaba Health Info Tech Stock (OTC: ALBHF)

Latest news for Alibaba Health Info Tech (OTC:ALBHF) Stock

Alibaba Health is of one of China's leading e-commerce platform specializing in healthcare-related products, including prescription drugs, OTC drugs, traditional Chinese medicine, health foods, and so on. The company operates both a third-party B2C service, or 3P, and its own direct-to-consumer business, or 1P, with its own inventory, which can both be accessed by Alibaba's Tmall app and Alipay. The company also provides online consultation services in a separate app called Yilu or "Dr. Deer", although its e-commerce businesses remain its core competency in the long-term. E-commerce accounted for 97% of revenue in fiscal year 2022. We estimate that AliHealth holds about 45% of market share in the industry in terms of GMV. AliHealth is 63.74% owned by its parent company, Alibaba Group.

Penny Stocks

ALBHF

MPNGY

Key Takeaways:


	Dingdang Health has passed a listing hearing in its second try at a Hong Kong IPO, aiming to raise $100 million
	The company has shifted from its original asset-light to a more asset-intensive model to make good on its promise of faster deliveries


By Emily Chan

Catching Listing Chill, Dingdang Health Slashes Hong Kong IPO

Fintech news covering the emerging Financial Technology services sector

Fintech

JDHIF

PANHF

Key takeaways:


	111’s revenue grew 87% in second quarter, generally outpacing its peers, as it aims to more than double its fulfillment capacity this year
	Company’s shares now trade around $6.50, well off a $23 high reached in February, as investors worry about regulatory wave for broader tech sector


By Mia Shanley

Solid Earnings, Modest Buyback Fail to Boost Drug Seller 111 Inc.

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CASBF

CanSino Biologics Inc. (OTC: CASBF), a Chinese vaccine maker, has emerged as the rising star of the Hong Kong market, after its COVID-19 clinical trial application was approved by Health Canada, the country&#39;s federal health policy department.

CanSino Biologics Shares Rose 380%  As COVID-19 Vaccine Promise Emerges

ALIBABA HEALTH INFO TECH by Alibaba Health Information Technology Ltd

Alibaba Health Information Technology Ltd

The first-ever Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs have been <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897440/ethereum-etfs-get-final-go-ahead-from-the-sec-what-happens-next">greenlighted by the SEC and are set to begin trading tomorrow morning</a>. Interestingly, two relatively lesser-known Ethereum-branded coins seem to have outperformed the marquee asset in 24-hour gains.
What Happened: Ethereum Name Service popped more than 5%, emerging as the best-performing cryptocurrency in the last 24 hours. The coin's trading volume jumped 66% to $191 million, signaling significant buying activity.
Similarly, Ethereum Classic popped 3% to hit a monthly high. ETC's trading volume nearly exploded 184% to $452 million in the last 24 hours.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:44 p.m. EDT)</td>
</tr>
<tr>
<td>Ethereum Name Service (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENS</a>)</td>
<td>+5.63%</td>
<td>$28.08</td>
</tr>
<tr>
<td>Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>)</td>
<td>+3.06%</td>
<td>$24.78</td>
</tr>
</tbody>
</table>
</figure>
These increases come despite a drop in Ethereum, which has lost 1.47% in the last 24 hours.&nbsp;
Ethereum Classic was created as a hard fork of the original Ethereum chain back in 2016 over disagreements within the community following a hack. The new chain inherited the name Ethereum as we know it, while the original one functions as Ethereum Classic.
Additionally, ENS is a token associated with Ethereum Name Service, a decentralized naming system that converts complex, machine-readable names to ones easily understandable by humans.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39891725/dogecoin-up-15-in-7-days-and-one-indicator-shows-it-may-be-primed-for-an-aggressive-up-mov">Dogecoin Up 15% In 7 Days And One Indicator Shows It May Be &#8216;Primed For An Aggressive Up Move&#8217;</a>
Why It Matters: ENS and ETC are fundamentally different from Ethereum, but many retail investors see them as cheaper alternatives. 
It is worth noting that both ENS and ETC have much lower unit prices than ETH. So, while ETH gains popularity among institutions, individual investors may be tempted to shift their focus to lower-cap &#8216;Ethereum&#8217; coins
Price Action: At the time of writing, Bitcoin was exchanging hands at $67,503 trading mostly flat in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39891040/shorting-btc-before-trumps-bitcoin-conference-speech-is-a-dangerous-game-10x-research">Shorting BTC Before Trump&#8217;s Bitcoin Conference Speech Is A Dangerous Game: 10x Research</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$ENS

$ETC

$ETH

Why Are Ethereum Classic And Ethereum Name Service Shooting Up On Spot ETH Approval Day?

Major U.S. indices closed higher on Monday, with the Dow Jones Industrial Average increasing by 0.3% to 40,415.44, the S&amp;P 500 advancing 1.1% to 5,564.41, and the Nasdaq climbing 1.6% to 18,007.57.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s shares rose by 4.76% to close at $123.54. The company is reportedly developing a new AI chip, provisionally named &#8220;B20&#8221;, <a href="https://www.benzinga.com/news/24/07/39877062/nvidia-reportedly-developing-a-new-version-of-its-flagship-ai-chip-for-chinese-market-amid-us-export">designed to comply</a> with U.S. export controls for the Chinese market. This move comes in response to Washington&#8217;s decision to tighten its controls on semiconductor exports to China in 2023. 
CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)
CrowdStrike shares fell by 13.46% to close at $263.91. The cybersecurity company experienced a significant global IT outage last week, which led to a sharp drop in its stock price. The company&#8217;s CEO, George Kurtz, <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39888488/jim-cramer-applauds-crowdstrikes-response-to-global-it-outage-sees-swift-recovery-ahead-">quickly took responsibility</a> for the outage, stating it was due to &#8220;a defect found in a single content update&#8221; and was not a result of a cyberattack. 
See Also: <a href="https://www.benzinga.com/general/entertainment/24/07/39891426/amc-entertainment-stock-halted-movie-theater-chain-announces-restructuring-of-debt-load-ada?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AMC Entertainment Announces Restructuring Of Debt Load, Adam Aron Says Box Office Challenges Are In &#8216;Rearview Mirror&#8217; (UPDATED)</a>
AMC Entertainment Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>)
AMC shares increased by 5.39% to close at $5.28. The company announced plans to restructure its debt load, which led to a temporary halt in trading of its shares. AMC is reportedly moving its U.S. theaters into a <a href="https://www.benzinga.com/general/entertainment/24/07/39891426/amc-entertainment-stock-halted-movie-theater-chain-announces-restructuring-of-debt-load-ada">different unit of the company</a> to exchange its existing debt for new obligations backed by those theater locations. 
Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)
Verizon&#8217;s stock fell by 6.08% to close at $39.09. The company reported its fiscal <a href="https://www.benzinga.com/news/earnings/24/07/39883078/verizon-q2-earnings-wireless-revenue-and-broadband-subs-gain-traction-sales-fall-short-of-expectati">second-quarter results</a>, with sales increasing by 0.6% year over year to $32.8 billion, slightly missing the analyst consensus estimate of $33.1 billion. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares rose by 5.15% to close at $251.51. The electric vehicle company is expected to release its <a href="https://www.benzinga.com/news/24/07/39890904/whats-going-on-with-tesla-stock-monday">quarterly financial earnings</a> on Tuesday after the market closes. 
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39871849/analyst-predicts-bitcoin-to-soar-by-83-but-theres-one-major-catch-were-going-to-get-that-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a></li>
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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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Nvidia, CrowdStrike, AMC, Verizon, Tesla: Why These 5 Stocks Are On Investors' Radars Today

In a bid to bolster the artificial intelligence industry in Saudi Arabia, Saudi Aramco&#8217;s venture arm, Wa&#8217;ed Ventures, has invested $15 million in South Korean AI chipmaker Rebellions Inc.
What Happened: Rebellions is collaborating with Samsung Electronics Co. to develop its proprietary AI chips. The startup recently announced its intention to merge with Sapeon Korea Inc., a subsidiary of SK Telecom Co., and is considering an initial public offering in South Korea, <a href="https://www.bloomberg.com/news/articles/2024-07-23/aramco-s-venture-arm-backs-south-korea-s-ai-chipmaker-rebellions">reported</a> Bloomberg.
Wa&#8217;ed Ventures, with a $500 million investment fund, is a key player in the Saudi Arabian tech investment scene. This investment in Rebellions is the second in the AI industry in less than a week, following a $6.5 million funding round for California-based AI platform aiXplain.
Fahad Alidi, managing director at Wa&#8217;ed Ventures, sees these investments as a strategic move to advance Saudi Arabia&#8217;s position in the global technology and innovation race.
Rebellions plans to use the funding to establish a new subsidiary in Saudi Arabia and commence business operations there.
See Also: <a href="https://www.benzinga.com/news/24/07/39859372/fbi-reportedly-used-israel-based-security-firms-unreleased-technology-to-crack-trump-shooters-phone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FBI Reportedly Used Israel-Based Security Firm&#8217;s Unreleased Technology To Crack Trump Shooter&#8217;s Phone</a>
Why It Matters: The investment in Rebellions is a part of Saudi Arabia's broader strategy to diversify its economy away from oil. Recently, Saudi Aramco announced an <a href="https://www.benzinga.com/markets/equities/24/06/39219771/saudi-aramcos-11-2b-stock-sale-to-fuel-mohammed-bin-salmans-economic-transformation-plans-for-th">$11.2 billion stock sale</a> to fuel Crown Prince Mohammed bin Salman's economic transformation plans for the Kingdom. This stock sale, the largest global offering in three years, aims to fund various initiatives under the Vision 2030 plan.
Moreover, the investment in AI technology aligns with Saudi Arabia's increasing need for data centers and semiconductors. As noted by Lumida Wealth co-founder Ram Ahluwalia, "<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38577767/semiconductors-are-the-new-oil-wealth-manager-says-saudi-arabias-need-for-data-cent">Semiconductors are the New Oil</a>," highlighting the Kingdom's strategic pivot towards technology.
Additionally, the U.S. government has recently slowed down the issuance of <a href="https://www.benzinga.com/general/politics/24/05/39098684/us-taps-brakes-on-ai-chip-sales-to-middle-east-over-national-security-concerns">licenses for the export of AI chips</a> to the Middle East, citing national security concerns. This move could have significant implications for the global tech industry and underscores the importance of Saudi Arabia developing its own AI capabilities.
Despite earlier reports suggesting a potential scaling back of the ambitious $1.5 trillion NEOM project, Saudi Arabia has confirmed that the <a href="https://www.benzinga.com/general/politics/24/04/38512268/mohammed-bin-salman-scaling-back-ambitious-1-5-trillion-neom-project-saudi-economy-minister-says-the">NEOM megaprojects</a> will proceed as initially planned. This is part of the broader Vision 2030 initiative to diversify the Saudi economy away from oil.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39881748/elon-musks-xai-flips-the-switch-on-100k-nvidia-h100-gpus-worth-up-to-4b-in-memphis-supercluster-most?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s xAI Flips The Switch On 100K Nvidia H100 GPUs Worth Up To $4B In Memphis Supercluster: &#8216;Most Powerful AI Training Cluster In The World&#8217;</a></li>
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Tech

Mohammed Bin Salman's AI Ambitions Get A Boost As Saudi Aramco's Venture Arm Invests $15M In South Korean AI Chipmaker

The CEO of CrowdStrike Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), George Kurtz, has been called upon by a U.S. congressional panel to testify regarding the <a href="https://www.benzinga.com/news/24/07/39861744/microsoft-outage-what-states-services-companies-saw-the-blue-screen-of-death">recent worldwide tech outage</a>. The panel has requested Kurtz to appear before the Subcommittee on Cybersecurity and Infrastructure Protection.
What Happened: The U.S. House of Representatives Homeland Security Committee has formally asked Kurtz to testify on the global tech outage that occurred last week, Reuters reported. 
The outage was a result of a faulty update to CrowdStrike&#8217;s security software, which affected millions of devices running on Microsoft Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows operating system.
The incident caused widespread <a href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat">disruptions across various industries</a>, including aviation, finance, and healthcare. Although services were gradually restored, the episode raised concerns about the concentration of critical software in the hands of a few companies and the potential for future incidents.
See Also: <a href="https://www.benzinga.com/news/24/07/39883677/investors-anticipate-unraveling-of-trump-trade-as-biden-exits-presidential-race-but-analyst-says-its?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Anticipate Unraveling Of &#8216;Trump Trade&#8217; As Biden Exits Presidential Race, But Analyst Says &#8216;It&#8217;s A Bit Too Early For The Markets To Declare Victory For Trump&#8217;</a>
The congressional panel, in its letter to Kurtz, acknowledged CrowdStrike&#8217;s response and coordination with stakeholders but emphasized the gravity of the situation, which some have labeled as the most significant IT outage in history. The panel has asked Kurtz to schedule a hearing with the subcommittee by Wednesday.
&#8220;CrowdStrike is actively in contact with relevant Congressional Committees. Briefings and other engagement timelines may be disclosed at members&#8217; discretion,&#8221; a company spokesperson said.
Why It Matters: The recent global outage has had significant repercussions for CrowdStrike . Shares of the company fell sharply, dropping over 11% on Friday and continuing to decline on Monday. Analysts from Guggenheim and BTIG downgraded the stock from Buy to Neutral, <a href="https://www.benzinga.com/news/24/07/39890295/why-crowdstrike-shares-are-trading-lower-by-around-13-here-are-other-stocks-moving-in-mondays-mid-da">reflecting concerns over the company&#8217;s handling</a> of the incident.
Experts predict that the financial impact of the outage could exceed $1 billion, with potential <a href="https://www.benzinga.com/news/24/07/39879895/if-youre-a-lawyer-for-crowdstrike-youre-probably-not-going-to-enjoy-the-rest-of-your-summer-say-dan">demands for compensation</a> and legal actions looming. Dan Ives, a tech analyst for Wedbush Securities, noted that CrowdStrike&#8217;s legal team might face a challenging summer as they navigate the fallout.
Despite the negative impact, some analysts, including Jim Cramer, have praised CrowdStrike&#8217;s <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39888488/jim-cramer-applauds-crowdstrikes-response-to-global-it-outage-sees-swift-recovery-ahead-">response to the crisis</a>. CEO George Kurtz promptly acknowledged the issue, attributing it to a defect in a single content update and clarifying that it was not a security breach or cyberattack.
The outage has also raised concerns about CrowdStrike&#8217;s <a href="https://www.benzinga.com/news/24/07/39886199/crowdstrike-faces-downgrades-amid-concerns-over-pricing-and-renewals-following-disruption">pricing and renewal strategies</a>. The company&#8217;s stock faced further downgrades amid worries about its ability to retain customers and maintain competitive pricing following the disruption.
Price Action: Crowdstrike stock closed at $263.91 on Monday, down 13.46%. In after-hours trading, the stock dipped further 0.34%. Over the past five days, the stock has dropped by 30.23%. However, year to date, Crowdstrike has gained 6.89%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39872368/mark-cuban-says-trumps-re-election-wont-impact-bitcoins-price-dogecoin-killer-shiba-inus-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Trump&#8217;s Re-Election Won&#8217;t Impact Bitcoin&#8217;s Price, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate Increases And More: This Week In Cryptocurrency</a></li>
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

MSFT

CrowdStrike CEO George Kurtz To Testify Before Congress On Faulty Update Causing Global Disruptions

Leading cryptocurrencies traded broadly flat Monday as the SEC gave a final nod to spot ETFs tracking the price movement of Ethereum.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.00%</td>
<td>$67,359.39</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>-1.55%</td>
<td>$3,483.31</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>-1.64%</td>
<td>$0.1387</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin meandered in the $67,000 &#8211; $68,000 region, while Ethereum started to witness selling as the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897440/ethereum-etfs-get-final-go-ahead-from-the-sec-what-happens-next#:~:text=Price%20Action%3A%20At%20the%20time,during%20Monday's%20regular%20trading%20session.">news of spot ETF approvals</a> started rolling in.
A whale transferred more than $30 million in Ether to Binance after the news, raising suspicions of a dump.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After the <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw">#SEC</a> approved 9 spot <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> applications, a whale deposited 8,762 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($30.4M) into <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a>. The whale withdrew the 8,762 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at $3,876 between May 27 and May 29. If he sold, he would lose ~$3.6M.<a href="https://t.co/f6yQTgQYsv">https://t.co/f6yQTgQYsv</a> <a href="https://t.co/i3fn3S7AMs">pic.twitter.com/i3fn3S7AMs</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1815566392558830014?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The market witnessed more than $105 million in liquidations in the last 24 hours, with nearly $75 million in upside bets getting wiped out.&nbsp;
Ethereum's Open Interest rose marginally by 0.25%. An increase in OI, coinciding with a drop in price, is construed as the opening of new short positions, in turn signaling a continuation of the downtrend.
Bitcoin's OI fell 1.11% in the last 24 hours, indicating the liquidation of long-position traders.
The Cryptocurrency Fear &amp; Greed Index showed a reading of 71, increasing from 70 the previous day. The values implied the prevalence of "Greed" sentiment in the market.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Helium (HNT)</td>
<td>+4.18%</td>
<td>$5.10</td>
</tr>
<tr>
<td>cat in a dogs world (MEW)</td>
<td>+3.63%</td>
<td>$0.007637</td>
</tr>
<tr>
<td>XRP (XRP)</td>
<td>+2.16%</td>
<td>$0.6076</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stands at $2.44 trillion, down 1.44% in the last 24 hours.
Stocks started the week with a bang. The S&amp;P 500 rose 59.41 points, or 1.08%, to end at 5,564.41, marking its best performance since early June. The Nasdaq Composite surged 1.58% to finish at 18,007.57, while the blue-chip index, Dow Jones Industrial Average, added 0.32% to hit 40,415.44 at the closing bell.
The rally was spurred by AI chip giant NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) which bounced 4.76% during the day, wiping out some losses from the previous week.
Last week, major indices like the S&amp;P 500 and the Nasdaq Composite registered their biggest weekly losses since April.
According to the CME FedWatch tool, traders are anticipating a 91% chance of the Fed lowering interest rates during September's FOMC meeting.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency trader KALEO anticipates a higher probability of pullback after the spot Ether ETFs are approved.
That said, they believed buying the dip was the "best" position to enter as Ether looked bullish on a higher time frame.
"We&#8217;re still early enough into this bull market that shorting is a greedy play if you&#8217;re giga-bullish on a higher time frame (ETH hasn&#8217;t even touched a new ATH yet)," the trader emphasized.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> / <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Still see there being a high likelihood we see some type of pullback after the spot ETF launches. We&#39;re still early enough into this bull market that shorting is a greedy play if you&#39;re giga-bullish on a higher time frame (ETH hasn&#39;t even touched a new ATH… <a href="https://t.co/iitD2l7QCe">pic.twitter.com/iitD2l7QCe</a>
&mdash; K A L E O (@CryptoKaleo) <a href="https://twitter.com/CryptoKaleo/status/1815496997115171183?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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Another well-known trader, going by the pseudonym Moustache noted that the apex cryptocurrency has retested its previous all-time high of $69,000 for five months, something which they interpreted as bullish.
"The longer the better, because the stronger the support. Much higher in 2024. Be ready fam," the trader enthusiastically remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Did you know that <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has already retested it&#39;s 2021 ATH for 5 months now? That&#39;s so bullish tbh. The longer the better, because the stronger the support.&#x1f4af; Much higher in 2024. Be ready fam. <a href="https://t.co/vALWKcY1pr">pic.twitter.com/vALWKcY1pr</a>
&mdash; 
</blockquote></div></figure>

$BTC

$DOGE

Bitcoin, Dogecoin Trade Flat, Ethereum Drops As Spot ETFs Get Approved:  The Altcoin King Might Retrace But Analyst Thinks Dip Buying Is The 'Best' Position

In the wake of President Joe Biden&#8217;s decision to <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">withdraw from the presidential race</a> and endorse Vice President Kamala Harris, Senator Ted Cruz (R-Texas) has warned his party not to underestimate her potential as a formidable candidate.
What Happened: Cruz voiced his concerns on his podcast, &#8220;The Verdict&#8221;. He noted that Republicans often dismiss Harris as a joke, a perception he believes could be detrimental given the potential impact of substantial free media coverage that could portray Harris as a strong contender, <a href="https://thehill.com/homenews/campaign/4787242-ted-cruz-warns-against-underestimating-kamala-harris/">reported</a> The Hill.
&#8220;Republicans, I worry, vastly underestimate Kamala Harris. They don't think very highly of her. They don't think she's terribly bright. When you or I bring up Kamala Harris' name in Republican circles, people laugh. It's immediately a punchline,&#8221; said Cruz.
Following Biden&#8217;s endorsement, Harris managed to raise $81 million within the first 24 hours of her campaign. Despite this, Cruz maintains his belief that former President Donald Trump will win the November election, but cautioned that it won&#8217;t be an easy victory.
&#8220;Now I still think Trump wins in November. But this is not a layup. It is not given,&#8221; cautioned Cruz.
Cruz also expressed concern about overconfidence within the Republican party, especially following the Republican National Convention. He urged his party members to focus on working hard towards the election, rather than premature celebrations.
See Also: <a href="https://www.benzinga.com/general/education/24/07/39871374/mark-cuban-reflects-on-visiting-trump-at-the-white-house-hes-talking-nonsense-about-a-lot-of-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Reflects On Visiting Trump At The White House: &#8216;He&#8217;s Talking Nonsense About a Lot of Things&#8217;</a>
Why It Matters: The political landscape underwent a significant shift when Biden announced his decision not to run for re-election in the 2024 presidential race.
Meanwhile, Harris received <a href="https://www.benzinga.com/news/24/07/39875041/gavin-newsom-backs-kamala-harris-calls-vp-tough-fearless-and-tenacious-the-ideal-candidate-to-counte">strong support</a> from Democrats, including California Governor Gavin Newsom, who praised her as &#8220;tough&#8221;, &#8220;fearless&#8221;, and &#8220;tenacious&#8221;, as reported by <a href="https://www.benzinga.com/news/24/07/39875041/gavin-newsom-backs-kamala-harris-calls-vp-tough-fearless-and-tenacious-the-ideal-candidate-to-counte">Benzinga</a>. 
Harris herself confidently expressed her readiness to confront Trump, <a href="https://www.benzinga.com/news/24/07/39896965/kamala-harris-says-shes-taken-on-perpetrators-of-all-kinds-before-i-know-donald-trumps-type">drawing on her prosecutorial experience</a>.
Photo by Consolidated News
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<li><a href="https://www.benzinga.com/news/24/07/39872063/political-strategist-says-these-three-democrats-could-replace-biden-in-the-presidential-race-and-vp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Political Strategist Says These Three Democrats Could Replace Biden In The Presidential Race — And VP Harris Isn&#8217;t One Of Them</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>

Politics

Ted Cruz Says Trump Victory In November Not A Given, Cautions Republicans Against Underestimating Kamala Harris: 'This Is Not A Layup'

Tesla and SpaceX CEO Elon Musk has announced the timeline for the chatbot <a href="https://www.benzinga.com/news/24/05/39027735/elon-musks-xai-raises-6b-heres-where-it-stands-against-openai-anthropic-and-other-ai-rivals">models of his AI company</a> xAI scheduled to be released later this year.
What Happened: On Monday, while speaking with Dr. Jordan B. Peterson at his <a href="https://www.benzinga.com/news/24/06/39404789/drone-footage-reveals-tesla-giga-texas-expansion-work-to-house-50-000-nvidia-gpus-ceo-elon-musk-says">Gigafactory in Texas</a>, Musk said that Grok 2 has &#8220;finished training&#8221; and is now in the bug-fixing stage. The official release is planned for next month.
&#8220;It should be on par, or close to GPT-4,&#8221; he said, comparing Grok 2&#8217;s capabilities with OpenAI&#8217;s model. The tech billionaire <a href="https://www.benzinga.com/news/24/05/38862733/openai-chief-scientist-that-quit-months-after-participating-in-coup-against-sam-altman-likely-to-joi">co-founded OpenAI</a> in 2015 and left the startup in 2018 over some differences. 
The tech mogul went on to say that Grok 3 is currently being trained at the Memphis Data Center and is expected to be released by December.
See Also: <a href="https://www.benzinga.com/news/24/07/39855896/how-to-fix-crowdstrike-issue-causing-blue-screen-of-death-on-your-windows-pc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Fix CrowdStrike Issue Causing Blue Screen Of Death On Your Windows PC</a>
&#8220;What we're doing in the Memphis Data Center is we're actually training Grok 3. So that'll probably finish training in about three or four months and then there'll be some fine-tuning and bug fixing and whatnot. And we're hoping to release Grok 3 by December,&#8221; he stated, adding, &#8220;And Grok 3 should be the most powerful AI in the world at that point.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My conversation with <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>. Live today at 3pm ET. <a href="https://t.co/RyaZFmvC8i">https://t.co/RyaZFmvC8i</a>
&mdash; Dr Jordan B Peterson (@jordanbpeterson) <a href="https://twitter.com/jordanbpeterson/status/1815427698703090085?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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Why It Matters: Musk&#8217;s AI company, xAI, has made significant strides in enhancing Grok. In May earlier it was reported that xAI plans to integrate multimodal inputs into Grok, allowing users to <a href="https://www.benzinga.com/news/24/05/38957813/elon-musks-xai-to-equip-grok-with-multimodal-ai-users-can-soon-get-text-based-answers-for-uploaded-p">upload images and receive text-based</a> responses.
Earlier this month, Musk disclosed that <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">Grok 3 would be trained on</a> a massive 100,000 Nvidia H100 chips. These chips are crucial for handling data processing in large language models (LLMs) and are highly sought after in Silicon Valley.
The tech billionaire has also been using Grok to make fun of his adversaries and competitors. He previously used the AI <a href="https://www.benzinga.com/news/24/05/39004738/elon-musk-uses-grok-to-throw-shade-at-googles-fumbling-ai-powered-search-how-many-rocks-should-i-eat">platform to critique</a> Google&#8217;s AI-powered search feature, which was receiving backlash from users over <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">its poor performance</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Days After Elon Musk Deemed University Of Tokyo&#8217;s Idea &#8216;Pointless,&#8217; Scientists Develop Smiling Robot With Living Skin</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk Says 'Grok 3 Should Be The Most Powerful AI' Upon Its Release, Gives Timeline For xAI Models Aiming To Beat Gemini, ChatGPT

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has called for the resignation of Secret Service Director Kimberly Cheatle, questioning the agency&#8217;s handling of the <a href="https://www.benzinga.com/news/24/07/39761846/trump-left-bloodied-after-shots-fired-at-pennsylvania-rally-evacuated-by-secret-service">recent assassination attempt</a> on former President Donald Trump.
What Happened: On Monday, Ocasio-Cortez took to X to express her concerns. She questioned the Secret Service&#8217;s protective measures during the incident, particularly the range of their protective perimeter. She also criticized the agency&#8217;s lack of public response to questions from Congress.
Ocasio-Cortez asked, &#8220;Why was the Secret Service's protective perimeter in Butler shorter than the range of an AR-15?&#8221; She said it didn&#8217;t take 60 days to answer that question.
She told Cheatle at a House Oversight Committee hearing that irrespective of the party it was unacceptable to wait that long for the report to come out.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Why was the Secret Service's protective perimeter in Butler shorter than the range of an AR-15? It does not take 60 days to answer that question. The agency's failure to publicly account for these questions and others from Congress is unacceptable. Dir. Cheatle should resign. <a href="https://t.co/5C50Qi5EJS">pic.twitter.com/5C50Qi5EJS</a>
&mdash; Rep. Alexandria Ocasio-Cortez (@RepAOC) <a href="https://twitter.com/RepAOC/status/1815539179910058208?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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The post comes in the wake of a failed assassination attempt on Trump during a rally in Pennsylvania. The incident, which occurred on July 13, led to widespread criticism of the Secret Service&#8217;s security measures.
See Also: <a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: First Poll After Biden&#8217;s Exit Shows Majority Approve Of Decision, But Here&#8217;s How It Might Affect Ex-President&#8217;s Chances</a>
Why It Matters: The Secret Service has faced scrutiny following the assassination attempt. Cheatle, who appeared before the House Oversight Committee, admitted that the agency had <a href="https://www.benzinga.com/general/politics/24/07/39892168/we-failed-during-trump-assassination-attempt-secret-services-kimberly-cheatle-grilled-by-oversig">failed in its duty</a> to protect the former president. Despite this, she has <a href="https://www.benzinga.com/news/24/07/39784760/secret-service-director-kimberly-cheatle-says-the-buck-stops-with-me-on-trump-assassination-attempt">refused to step down</a> from her position.
Reports suggest that Trump had been requesting additional security measures for two years before the incident, but these requests were repeatedly ignored by high-ranking officials. The Secret Service cited a lack of resources as the reason for this.
Ocasio-Cortez is not the first to call for Cheatle&#8217;s resignation. Earlier, Rep. Marjorie Taylor Greene (R-Ga.) also <a href="https://www.benzinga.com/news/24/07/39830256/marjorie-taylor-greene-slams-absolute-security-failure-over-attempted-trump-assassination-secret-ser">demanded</a> Cheatle step down, citing the security failure during the assassination attempt.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/news/24/07/39896965/kamala-harris-says-shes-taken-on-perpetrators-of-all-kinds-before-i-know-donald-trumps-type">Kamala Harris Says She&#8217;s Taken On Perpetrators Of All Kinds Before: &#8216;I Know Donald Trump&#8217;s Type&#8217;</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>

'Why Was The Secret Service's Protective Perimeter In Butler Shorter Than The Range Of An AR-15?' — AOC Asks Kimberly Cheatle On Trump Assassination Attempt

In a landmark development, the SEC has approved the commencement of trading for spot Ethereum (CRYPTO: ETF) exchange-traded funds Monday, exposing mainstream investors to the price moves of the world&#8217;s second-largest cryptocurrency.
What Happened: Bloomberg senior ETF analyst Eric Balchunas confirmed the news, as the 424(b) forms are now available on the SEC site, meaning the regulator has cleared them for trading from tomorrow.
The SEC has given its approval to registration forms from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck and Invesco Galaxy. The only funds that don&#8217;t have effective documents from the SEC are Grayscale&#8217;s Trust and Mini Trust, which analysts <a href="https://x.com/JSeyff/status/1815509442890453141">expected </a>to come tomorrow morning before trading commences.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's official: Spot Eth ETFs have been made effective by the SEC. The 424(b) forms are rolling in now, the last step = all systems go for tomorrow's 930am launch. Game on. <a href="https://t.co/9MaBDBA8co">pic.twitter.com/9MaBDBA8co</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1815489137484722333?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), which happens to be the custodian for 8 of the 9 newly approved ETFs,also announced the clearance, describing it as an important milestone for cryptocurrencies.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">ETH ETFs have arrived. Today, the SEC approved 9 spot ETH ETF applications. Their much celebrated arrival marks another important milestone for crypto in expanding access to and diversifying our cryptoeconomy. Here's why &#x1f9f5; <a href="https://t.co/o6KfgGlUDn">pic.twitter.com/o6KfgGlUDn</a>
&mdash; Coinbase &#x1f6e1;&#xFE0F; (@coinbase) <a href="https://twitter.com/coinbase/status/1815525645318778894?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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The websites of the new investment products, including Blackrock&#8217;s ishares Ethereum Trust, also went live, unlocking a new era of trading for cryptocurrency-based funds.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39877439/elon-musk-jokes-hes-an-alien-scientist-with-a-japanese-pseudonym-but-dogecoin-designer-cla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Jokes He&#8217;s An &#8216;Alien Scientist With A Japanese Pseudonym,&#8217; But Dogecoin Designer Clarifies Tesla CEO Is &#8216;Not Satoshi Nakamoto&#8217;</a>
Why It Matters: Despite an initial lack of engagement between the SEC and issuers, the approvals were granted unexpectedly. Firms had received <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38995513/sec-approves-spot-ethereum-etfs-opening-door-for-mainstream-investors">approval of 19b-4 forms in May</a> but needed their registration statements to go effective before launching.
Prior to the anticipated launch of spot Ethereum ETFs in the U.S., <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39795530/ethereum-etfs-to-attract-over-5b-in-inflows-but-returns-could-be-lower-than-expected-citi">Citi projected up to $5.4 billion in inflows within the first six months</a>. The bank cautioned that actual inflows and returns could be lower than projected.
Analysts led by Alex Saunders noted that Ethereum offers long-term diversification benefits due to its varied use-cases. However, these benefits are not currently reflected in the market.
Furthermore, Michaël van de Poppe, a widely-followed cryptocurrency analyst, anticipated a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39876688/top-crypto-trader-reveals-why-hes-more-interested-in-these-ethereum-linked-coins">surge in activity</a> and value of tokens in the Ethereum ecosystem after the approval.
Price Action: At the time of writing, Ethereum was exchanging hands at $3,470.06, down 1.42% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of Coinbase closed 2.86% higher at $265.15 during Monday&#8217;s regular trading session.
Photo Courtesy: Shutterstock.com
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39884149/michelle-obama-for-democratic-nominee-crypto-bettors-think-her-odds-have-just-tripled?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michelle Obama For Democratic Nominee? Crypto Bettors Think Her Odds Have Just Tripled</a></li>
</ul>

ETFs

COIN

Ethereum ETFs Get Final Go-Ahead From The SEC: What Happens Next?

Reuters Reports Harris Campaign Secures Enough Delegates To Clinch Democratic Presidential Nomination, Citing Campaign Sources

On Monday, Cathie Wood-led Ark Invest made significant trades involving CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), despite the turbulent market conditions surrounding these companies.
The CrowdStrike Trade
The Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) funds bought a total of 20,219 shares of CrowdStrike, valued at approximately $5.34 million based on the closing price of $263.91 on the same day. This move comes despite CrowdStrike&#8217;s recent challenges.
CrowdStrike&#8217;s<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39888488/jim-cramer-applauds-crowdstrikes-response-to-global-it-outage-sees-swift-recovery-ahead-"> shares had been declining</a> following a global IT outage last week, for which the cybersecurity firm has accepted responsibility.
CEO George Kurtz attributed the outage to &#8220;a defect found in a single content update&#8221; and confirmed it was not a security incident or cyberattack. Despite this, analysts predict the outage could cost over $1 billion, with potential lawsuits and demands for remuneration looming.
Former hedge fund manager and TV anchor Jim Cramer has praised Crowdstrike&#8217;s response to the outage and expressed optimism about the company&#8217;s future. He also appreciated Kurtz&#8217; handling of the tech glitch that affected users of Microsoft&#8217;s Windows operating system.
&#8220;CrowdStrike has unbelievable technology and it was not their technology that was the problem, it was a sloppy update, of which he completely owned,&#8221; said Cramer.
The Tesla Trade
Ark Invest&#8217;s ARKW fund sold 14,859 shares of Tesla, valued at approximately $3.74 million based on the closing price of $251.51 on the same day. Ark Invest is typically bullish stance on the Elon Musk-led electric vehicle maker.
<a href="https://www.benzinga.com/markets/equities/24/07/39878173/cathie-woods-ark-offloads-12-24m-in-tesla-shares-ahead-of-q2-earnings-what-investors-should-know">Ark Invest has been selling Tesla shares</a> in recent sessions, despite Wood&#8217;s optimistic outlook on the company&#8217;s potential in the autonomous taxi sector. Wood has a $2,600 target for the EV maker. Tesla is set to report second-quarter earnings on Tuesday.
Other Key Trades: 
<ul>
<li>Ark Invest&#8217;s ARKF fund sold shares of Kaspi.kz AO (KSPI).</li>
<li>Ark Invest&#8217;s ARKG fund sold shares of Teladoc Health Inc (TDOC) and bought shares of 10X Genomics Inc (TXG). </li>
<li>Ark Invest&#8217;s ARKK fund sold shares of Teladoc Health Inc (TDOC) and bought shares of 10X Genomics Inc (TXG). </li>
<li>Ark Invest&#8217;s ARKQ fund bought shares of Oklo Inc (OKLO).</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875607/bitcoin-ethereum-hold-steady-dogecoin-spikes-as-biden-bows-out-of-presidential-race-king-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst</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>

ARKF

ARKW

Cathie Wood's Ark Invest Snaps Up $5.3M In Beaten-Down Crowdstrike Shares, Dumps $3.7M Worth Of Tesla Stock Before Q2 Earnings

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has acquired Bray Film Studios, the former production site for the iconic Hammer horror film series, to expand its UK-based television and film production.
What Happened: Amazon&#8217;s Prime Video division has purchased Bray Film Studios, located near London, for an undisclosed sum. Amazon <a href="https://www.aboutamazon.eu/news/retail/amazon-prime-video-acquires-the-iconic-bray-film-studios-in-the-uk">said</a> the studios consist of five stages, workshops, and offices.
Bray Studios has previously collaborated with Amazon MGM Studios, assisting in the production of the second season of the Prime Video series The Lord of the Rings: The Rings of Power in 2022. The next Amazon MGM Studios production at Bray will be the second season of the Russo brothers&#8217; spy series Citadel, featuring Richard Madden and Priyanka Chopra Jonas.
The agreement significantly boosts the UK's studio and production industry, which hosts major Hollywood films at facilities owned by Disney, Sky, Warner Brothers Discovery, and Amazon. Last year, half of the top 20 film releases, including &#8220;Barbie&#8221; and &#8220;Wonka,&#8221; were at least partially produced in Britain, <a href="https://www.ft.com/content/8e8f4f0e-5f9d-4f8b-9f1b-2d9e7a3f1c7e">according</a> to the Financial Times report.
Hammer has produced notable horror and fantasy films such as The Mummy, The Curse of Frankenstein, and Terence Fisher's Dracula. Bray Film Studios has also been the site for productions like The Rocky Horror Picture Show, Ridley Scott's Alien, Eric Clapton's &#8216;MTV Unplugged&#8217; TV special and album, and the Elton John biopic Rocketman.
See Also: <a href="https://www.benzinga.com/markets/24/07/39877083/elon-musk-may-have-endorsed-trump-but-tesla-would-have-done-even-worse-without-bidens-7-5k-ev-tax-cr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk May Have Endorsed Trump, But Tesla Would Have Done &#8216;Even Worse&#8217; Without Biden&#8217;s $7.5K EV Tax Credit, Says Fund Manager</a>
Why It Matters: The acquisition of Bray Film Studios is in line with Amazon&#8217;s recent efforts to expand its content library. In May 2021, the company <a href="https://www.benzinga.com/m-a/21/05/21297885/amazon-buys-mgm-studios-for-8-45b-what-you-need-to-know">acquired MGM Studios for $8.45 billion</a>, significantly boosting its content offerings for Prime Video. This latest acquisition indicates Amazon&#8217;s continued commitment to expanding its content production capabilities.
Amazon&#8217;s move also comes at a time when other tech giants are <a href="https://www.benzinga.com/news/24/07/39886297/apple-adjusts-hollywood-approach-cuts-costs-on-original-shows-report">reassessing their Hollywood strategies</a>. Apple Inc., for instance, is reportedly cutting costs on original shows and movies after spending over $20 billion on content that has yet to attract large audiences.
Amazon&#8217;s recent financial performance has been strong, with the company <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">reporting a 13% year-over-year increase</a> in net sales in its first-quarter financial results. 
Meanwhile, Amazon Prime&#8217;s increasing dominance in international markets, such as Japan, is also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39766528/amazon-prime-and-youtube-premium-linked-to-japans-rising-digital-deficit-putting-pr">raising concerns about the country&#8217;s digital deficit</a>. The platform&#8217;s popularity is contributing to a significant imbalance in Japan&#8217;s digital trade, potentially pressuring the yen&#8217;s value,&nbsp;according to&nbsp;Kazuma Kishikawa, an economist at the Daiwa Institute of Research.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875607/bitcoin-ethereum-hold-steady-dogecoin-spikes-as-biden-bows-out-of-presidential-race-king-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Education

Media

AMZN

Amazon Buys Historic Bray Film Studios Known For 'Dracula' And 'The Curse Of Frankenstein'

In a speech at the Democratic campaign headquarters, Vice President Kamala Harris confidently expressed her readiness to confront Donald Trump, drawing on her prosecutorial experience and outlining her vision for the country.
What Happened: As reported by Reuters on Thursday, Harris thanked President Joe Biden and confirmed Jen O&#8217;Malley Dillon and Julie Chavez Rodriguez would continue as campaign heads. 
She drew a contrast between her vision and Trump&#8217;s regressive approach, stating, &#8220;I took on perpetrators of all kinds. Predators who abused women, fraudsters who ripped off consumers, cheaters who broke the rules for their own gain. So hear me when I say I know Donald Trump&#8217;s type.&#8221;
Harris warned of potential actions by Trump, including a national abortion ban, and asked the audience about their vision for the country. She championed a future of freedom, compassion, and rule of law over chaos, fear, and hate. She concluded her speech with a call to action, asking, &#8220;Are you ready to get to work?&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: First Poll After Biden&#8217;s Exit Shows Majority Approve Of Decision, But Here&#8217;s How It Might Affect Ex-President&#8217;s Chances</a>
Why It Matters: Harris&#8217;s assertive stance comes in the wake of President Biden&#8217;s unexpected <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">decision to withdraw</a> from the 2024 presidential race. Trump <a href="https://www.benzinga.com/news/24/07/39875181/trump-wants-republicans-reimbursed-after-biden-quits-we-have-to-start-all-over-again">questioned Biden&#8217;s withdrawal</a> and suggested the Republican Party should be compensated for the sudden change.
California Governor Gavin Newsom has <a href="https://www.benzinga.com/news/24/07/39875041/gavin-newsom-backs-kamala-harris-calls-vp-tough-fearless-and-tenacious-the-ideal-candidate-to-counte">publicly endorsed Harris</a> for the upcoming presidential race, calling her &#8220;tough&#8221;, &#8220;fearless&#8221;, and &#8220;tenacious&#8221;. Harris, a former U.S. Senator from California, is seen as the party's top choice to succeed President Biden.
Harris has previously <a href="https://www.benzinga.com/news/24/01/36728971/kamala-harris-blames-trump-for-supreme-courts-reversal-on-roe-v-wade-he-is-proud-that-women-have-bee">blamed Trump</a> for the Supreme Court&#8217;s reversal on Roe V. Wade, connecting the introduction of new stringent abortion laws to his actions.
Photo: Lev Radin 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>

Kamala Harris Says She's Taken On Perpetrators Of All Kinds Before: 'I Know Donald Trump's Type'

When passion fuels our actions sometimes we can take things too far. Brian Thomas Borland, a 68-year-old marijuana enthusiast did just that when he told a jury to find him guilty of cannabis charges.
What happened: Borland, a well-known cannabis advocate in Northland, New Zealand was on a trial after police discovered two cannabis grow sites and about 100 plants, <a href="https://www.rnz.co.nz/news/national/522677/cannabis-advocate-brian-borland-tells-jury-to-find-him-guilty" target="_blank" rel="noreferrer noopener">writes</a> RNZ. He faced charges related to cannabis cultivation and dealing marijuana on two properties on separate occasions.
"You have no choice but to find me guilty, " he told the jury, arguing that "Everyone should have the right to grow their own cannabis if they wish."
He stressed the need for changes in the law."Why I took these actions was simply to defy the law."
After 11 minutes of deliberation, the jury reached a verdict: Guilty.
After all, the jury was following the law, and as lawyer Pablo Hambler said in a closing statement there was no question as the whether he broke the law. "You may be sympathetic towards his position but this is not a case of what the law should be or what Borland might like it to be," Hambler said. "The law of cultivating and selling it to other people is illegal."
Read Also: <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/06/39320186/22-8m-europeans-used-weed-last-year-german-university-launches-marijuana-cultivation-course-and-" rel="noreferrer noopener">UK Man Who Went To Prison 4 Times For Running Cannabis Cafe Is Back In The Game</a>
50 Years In Cannabis, Not The First Charge
Borland faced charges, but didn't stop there. In January 2023, he launched a business and a Facebook page openly marketing the sale of cannabis and seeds. The police found 52 plants and more than 600 grams of cannabis, and he was charged. He then pleaded not guilty, saying the cannabis was meant for clients with medical needs.
Borland confirmed he&#8217;d been in the cannabis business for about 50 years, seven of which he spent in prison. This time, he used the closing statement to make a make a statement – opposition to cannabis laws.
"Not all our laws are fair and the judiciary has a moral and ethical obligation to ensure the laws they administer are fair and just. Cannabis laws are not fair and all they are doing are protecting medical companies that sell an inferior product," he told the jury.
The judge tried to reason with him, saying he understood his moral stand, but advised him to rethink how would it be to go to prison, especially as an older man. "It seems to be a waste of a life but it's entirely up to you, you seem to be making a martyr of yourself."
"I just have to do what I have to do," Borland said.
He is still waiting for the sentence.
Read more on <a target="_blank" href="https://www.rnz.co.nz/news/national/522677/cannabis-advocate-brian-borland-tells-jury-to-find-him-guilty" rel="noreferrer noopener">RNZ</a>.
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</ul>
Photo: Courtesy of H_Ko via Shutterstock

Cannabis

Passionate Pot Advocate In New Zealand Tells Jury To Jail Him As He Fights For His Right To Cultivate Cannabis

KITT

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

KITTW

In Japan, a nation known for its <a href="https://www.benzinga.com/markets/cannabis/23/12/36107955/japan-approves-marijuana-derived-medicines-adopt-7-year-prison-sentences-for-recreational-use" target="_blank" rel="noreferrer noopener">stringent stance on drugs</a>, Ryujiro Oyabu, a 52-year-old pottery artist, is making headlines with a court case that could potentially impact the country&#8217;s approach to <a href="http://benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">cannabis</a>. Oyabu, arrested in August 2021 with three grams of marijuana, is contesting Japan&#8217;s harsh cannabis laws, rooted in post-World War II American occupation policies.
<h3 class="wp-block-heading">Oyabu&#8217;s Arrest Exposes Japan&#8217;s Cultural Stigma</h3>
Oyabu&#8217;s legal journey began after a traffic stop led to his arrest and a three-week stint in a small jail cell, exacerbating his claustrophobia, <a href="https://inews.co.uk/news/world/cannabis-court-case-japan-zero-tolerance-drugs-test-3166758" target="_blank" rel="noreferrer noopener">reports</a> i News. &#8220;Japan is different from Western culture. Honesty is the most important value for the Japanese. Punishment isn't as important as shame – anyone who uses illegal drugs, he is not that human,&#8221; noted Shinichi Ishizuka, a criminologist from Ryukoku University.
<h3 class="wp-block-heading">Appeal Challenges Japan&#8217;s Cannabis Ban</h3>
The court initially dismissed Oyabu&#8217;s argument that the ban was unconstitutional, sentencing him to six months, suspended for three years. Unyielding, Oyabu has appealed, challenging the government to provide scientific evidence of marijuana&#8217;s dangers under new laws that acknowledge its medicinal use. &#8220;If that is the case, the government needs to scientifically demonstrate the harmfulness of THC,&#8221; stated journalist Hideo Nagayosh according to i News.
This case emerges amidst a broader global trend toward relaxing marijuana laws, with recent changes in countries like <a href="https://www.benzinga.com/markets/cannabis/24/06/39140974/mexicos-first-female-president-supports-cannabis-will-claudia-sheinbaum-legalize-marihuana" target="_blank" rel="noreferrer noopener">Mexico</a>, <a href="https://www.benzinga.com/markets/cannabis/24/06/39493683/brazils-supreme-court-decriminalizes-cannabis-possession-for-personal-use" target="_blank" rel="noreferrer noopener">Brazil</a>, <a href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" target="_blank" rel="noreferrer noopener">Germany</a>, <a href="https://www.benzinga.com/markets/cannabis/24/07/39824908/south-african-companies-prepare-for-new-cannabis-regulations-experts-expect-lots-of-fundraising-" target="_blank" rel="noreferrer noopener">South Africa</a> and <a href="https://www.benzinga.com/markets/cannabis/24/02/36941500/spains-medical-marijuana-law-to-function-soon-first-cannabis-club-in-malta-more-euro-weed-update">Malta</a>. i News noted Oyabu&#8217;s struggle has mobilized Japan&#8217;s nascent cannabis community, many of whom attended hearings to support him.
<h3 class="wp-block-heading">Cannabis&#8217; Deep Roots In Shinto Rituals In Japan</h3>
The cultural significance of cannabis in <a href="https://www.benzinga.com/topic/japan-cannabis" target="_blank" rel="noreferrer noopener">Japan</a> is linked to Shinto, its national religion. At the Taima Hakubutsukan (Cannabis Museum), curator Junichi Takayasu showcases hemp&#8217;s historical role in Shinto rituals, emphasizing its deep-rooted cultural relevance. &#8220;Without cannabis, Shintō rituals cannot be held,&#8221; Takayasu explains, pointing to an important facet of Japanese tradition.
<h3 class="wp-block-heading">Japan&#8217;s Evolving Cannabis Landscape</h3>
Amidst these cultural and legal upheavals, Japan's National Police Agency recently reported that in 2023, the country <a href="https://www.benzinga.com/markets/cannabis/24/03/37907388/cannabis-arrests-in-japan-hit-record-high-australias-hemp-sector-faces-setback-moroccos-294-ton-" target="_blank" rel="noreferrer noopener">recorded a historic surge in cannabis-related criminal cases</a>. Alarmingly, young people represented over 70% of these cases. This rise in cannabis cases now outnumber stimulant drug offenses, reflecting changing drug use trends in Japan.
The Japanese government initiated a public comment period in late May on a cannabis reform bill that <a href="https://www.benzinga.com/markets/cannabis/24/06/39140255/japan-could-become-first-to-allow-cbd-in-food-thailands-medical-marijuana-costs-increase-6x-trig" target="_blank" rel="noreferrer noopener">includes proposals such as loosening restrictions on CBD in food products</a>. If passed, Japan could become the first country to legalize CBD in food. This move, along with the government&#8217;s recent expansion of access to <a href="http://benzinga.com/topic/medical-cannabis" target="_blank" rel="noreferrer noopener">medical marijuana,</a> could indicate a potential softening of Japan&#8217;s historically strict cannabis regulations.
Read <a href="https://inews.co.uk/news/world/cannabis-court-case-japan-zero-tolerance-drugs-test-3166758" target="_blank" rel="noreferrer noopener">more</a> at i News.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t" target="_blank" rel="noreferrer noopener">Joe Biden Drops Out: What Would Happen With Cannabis Legalization Under Kamala Harris Or Donald Trump?</a></li>
</ul>
Photo: Courtesy of RODNAE Productionsby Pexels.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Cannabis rescheduling seems to be right around the corner. 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. <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> before prices surge by following <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>.

Asia

Government

Regulations

Japanese Artist Arrested For Cannabis Possession Challenges Nation's Strict Laws, Echoing Global Shift

Vice President Kamala Harris is the current frontrunner to be the Democratic Party's nominee in the 2024 presidential election after President Joe Biden <a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp">withdrew from the race.</a>
Harris could set several firsts if she wins the presidency including the first woman president, an item that may have been predicted by "The Simpsons."
What Happened: Animated series "The Simpsons," which airs on Fox Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) network FOX has had years of coincidentally predicting world events.
Among the wild predictions are the merger of Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Fox, the bailout of Greece, the invention of FaceTime, the introduction of autocorrect, FIFA corruption, the U.S. Men's curling team winning a gold medal, and Donald Trump becoming president of the U.S.
Recent predictions that may have come true include predicting Elon Musk <a href="https://www.benzinga.com/general/entertainment/22/11/29876033/did-the-simpsons-predict-elon-musk-buying-twitter-this-2015-episode-may-have-been-prophetic">would acquire Twitter, </a>the collapse of Silicon Valley Bank and the <a href="https://www.benzinga.com/general/entertainment/23/06/32976792/did-the-simpsons-predict-the-titanic-sub-disaster-a-17-year-old-episode-goes-viral">tragedy of the submersible vessel</a> traveling to the Titanic wreckage.
A new Simpsons prophecy is going viral with news of Biden dropping out of the race, helping to elevate the status of the long-running animated series now owned by Disney.
The March 19, 2000, episode titled "Bart to the Future" features a flash forward for the Simpson family. In the episode, Lisa Simpson is the first woman president of the U.S. and she enters the White House taking over for President Trump.
"As you know, we've inherited quite a budget crunch from President Trump," Simpson says in the episode.
The episode is set in the future, estimated to be in 2030 according to Simpsons Wiki, and while Harris wouldn't follow directly after Trump, her presidency would come after he was in the White House and a recent memory.
Simpsons screenwriter Al Jean said Sunday he was proud of the potential "prediction" made by "The Simpsons."
<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">.<a href="https://twitter.com/TheSimpsons?ref_src=twsrc%5Etfw">@TheSimpsons</a> "prediction" I'm proud to be a part of. <a href="https://t.co/ZvkqotRpsn">pic.twitter.com/ZvkqotRpsn</a>
&mdash; Al Jean (@AlJean) <a href="https://twitter.com/AlJean/status/1815107357669834777?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Known for predicting future events, the prediction of Trump as president may be one of the show's wildest.
"We predicted that he would be president back in 2000 — but (Trump) was, of course, the most absurd placeholder joke name that we could think of at the time, and that's still true. It's beyond satire," Simpsons creator Matt Groening told the Guardian in a 2016 <a href="https://www.theguardian.com/tv-and-radio/2016/oct/13/the-simpsons-matt-groening-president-trump-its-beyond-satire-first-dog">interview</a>.
"The Simpsons" episode has gone viral in past years when Hillary Clinton ran against Donald Trump in the 2016 presidential election.
The 2021 inauguration of President Joe Biden also saw Harris wear a similar outfit to Simpson's in the episode, also causing the episode to go viral.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36938351/apple-vision-pro-predicted-by-the-simpsons-heres-the-episode-highlighting-vr-headse">Apple Vision Pro Predicted By &#8216;The Simpsons&#8217;? Here&#8217;s The Episode Highlighting VR Headsets</a>
Why It's Important: While the potential prediction made by "The Simpsons" stands out, there could be several other entertainment connections to Biden dropping out of the race and Harris becoming the potential president.
A previous episode of "Veep," which starred Julia Louis-Dreyfus as Vice President Selina Meyer highlighted a similar storyline.
"I'm not leaving. POTUS is leaving. He's not going to run for a second term. I'm gonna run. I'm gonna run for president!" Meyer says in an episode.
On the show, Meyer becomes the first woman president in American history.
Biden is the first president since 1968 not to run for re-election in a presidential election.
"Veep" creator Armando Iannucci commented on X posts drawing parallels to the show and Biden stepping down.
"Still working on the ending," Iannucci said to one user saying the show predicts "our political reality,&#8221; as <a href="https://www.independent.co.uk/arts-entertainment/tv/news/veep-joe-biden-julia-louis-dreyfus-b2583667.html#:~:text=Following%20news%20of%20Biden's%20exit,POTUS%20is%20leaving.">reported </a>by The Independent. 
Hit movie "Barbie," which was the top-grossing film of 2023, also went viral on Sunday thanks to a potential connection and the timing of Biden's announcement.
In "Barbie," President Barbie is played by Issa Rae, a black woman. The movie from Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) was released in theaters on July 21, 2023, exactly one year before Biden stepped down and Harris became the potential presidential candidate.
Harris could become the first woman, first Black American woman and first South Asian American if she goes on to win the 2024 election.
While these shows and movies are fictional, the potential predictions can't help but get people excited about possibly becoming true.
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Photos: &#8220;The Simpsons,&#8221; via IMDb, Harris via Shutterstock

Entertainment

FOXA

'The Simpsons' Does It Again? Could This Animated Show, 'Veep,' 'Barbie' Foreshadow Kamala Harris Winning 2024 Election

A soccer team bought by podcaster Peter McCormack has added to its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings months after announcing Cameron and Tyler Winklevoss <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38260567/bitcoin-soccer-team-adds-winklevoss-twins-as-investors-in-english-premier-league-mission-w">joined as investors.</a>
Here's the latest on the Bitcoin soccer club.
What Happened: Operating as an <a href="https://www.benzinga.com/topic/soccer">English soccer team</a> trying to reach the English Premier League, Real Bedford is one of the few sporting teams from around the world that have Bitcoin as part of its treasury.
The team's Chairman Peter McCormack recently announced the team added to its Bitcoin holdings.
"Real Bedford has acquired 66.9 BTC for $4,500,420.69 @ avg price of ~$67,220 per #bitcoin. As of today, @realbedford HODLs 82.7 $BTC acquired for ~$5.3m @ avg price of ~$64,925 per bitcoin," McCormack <a href="https://x.com/PeterMcCormack/status/1815357073430876169">tweeted</a>.
The pro-Bitcoin podcaster said 15.8 BTC is held in the float for "football matters" and the rest is held in the team's treasury to help with "the club's long-term ambitions."
The post from McCormack drew <a href="https://x.com/PeterMcCormack/status/1815166633582956700?t=rFpoHDJinVs4paT7GLoghQ&amp;s=19">praise </a>from MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Executive Chairman Michael Saylor, who is known for buying Bitcoin with the software company's excess cash and has become one of the largest Bitcoin holders.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/22/06/27865236/exclusive-michael-saylors-microstrategy-is-married-to-bitcoin-everything-else-in-the-world">EXCLUSIVE: Michael Saylor&#8217;s MicroStrategy Is Married To Bitcoin: &#8216;Everything Else In The World Is Inferior&#8217;</a>
Why It's Important: McCormack shared a post from Saylor showing Bitcoin outperforming other assets classes like the S&amp;P 500, gold, the Nasdaq, silver and bonds from the date MicroStrategy bought Bitcoin through July 19, 2024.
"Football still doesn't understand this," McCormack tweeted with the chart from Saylor.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39817792/missed-out-on-nvidia-michael-saylor-says-get-on-the-bitcoin-standard-for-even-better-retur">Benzinga recently shared </a>that Saylor also took to X highlighting MicroStrategy shares have outperformed Nvidia since the company began buying Bitcoin.
"To outperform $NVDA – get on the #Bitcoin Standard," Saylor tweeted with the chart showing the returns of MSTR, NVDA and several other widely followed technology stocks.
McCormack shared that the 82.7 Bitcoin bought for $5.37 million are currently valued at $5.57 million.
Read Next: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://bzresearch.myclickfunnels.com/latest-research-webinar-redirect-evergreen?utm_source=website-content" target="_blank" rel="noreferrer noopener">Turn Trading Into The Ultimate Side Hustle Using Benzinga Tools In A Free Webinar</a></li>
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Winklevoss-Backed Real Bedford Soccer Club Embraces Michael Saylor Bitcoin Philosophy, Accumulates 82.7 BTC

The cannabis market saw a surge that waned by Friday, with the AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) falling by 2.50% over the week, and the Global X Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>) <a href="https://www.benzinga.com/cannabis">dropping 1.73%.</a>
<h3 class="wp-block-heading">Ascend's Financial Restructuring </h3>
One notable bright spot was Ascend Wellness Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAWH#OTC">AAWH</a>), which experienced a robust rally of 12.18% following the announcement of its debt refinancing plan. 
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39890121/cannabis-stocks-surge-then-plummet-on-news-that-biden-is-bowing-out-of-2024-presidential-race">Cannabis Stocks Surge Then Plummet On News That Biden Is Bowing Out Of 2024 Presidential Race</a>
Jesse Redmond, an analyst from Water Tower Research, reported: &#8220;Ascend announced on Monday it successfully refinanced its debt. The new senior secured notes were priced at 94.75% of face value, have a 12.7% interest rate, and are due in 2029." 
He added that "the net proceeds of the notes, together with cash on hand, will be used to prepay $215 million of principal amounts outstanding under its existing term loan."
<h3 class="wp-block-heading">Jushi Faces Decline Amid Market Fluctuations</h3>
Conversely, Jushi Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JUSHF#OTC">JUSHF</a>) saw the most significant loss among major cannabis stocks, dropping by 9.84%. The decline reflects broader market uncertainties and investor reactions to the latest financial reports and industry developments.
<h3 class="wp-block-heading">Cannabis Rescheduling And Political Developments</h3>
The cannabis rescheduling comment period is set to conclude on Monday, July 22, with industry stakeholders eagerly awaiting the response from the Drug Enforcement Administration (DEA). 
Jesse Redmond notes: "We are eager to find out if the DEA Administrator will grant a hearing and how long it will take to respond to comments." 
The upcoming elections and the Democratic National Convention, commencing on August 19, could play pivotal roles in the rescheduling process. Given the political dynamics, there is speculation that DEA Administrator Anne Milgram might expedite the review process.
<h3 class="wp-block-heading">Political Influences On Cannabis Legislation</h3>
In a significant political development, <a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t" target="_blank" rel="noreferrer noopener">President Joe Biden announced Sunday</a> that he will not seek re-election. VP Kamala Harris will replace Biden at the top of the Democratic ticket and Ohio Senator J.D. Vance was chosen to be Donald Trump&#8217;s running mate. 
Vance, known for his support of states&#8217; rights to regulate cannabis and opposition to incarcerating individuals for minor cannabis offenses, presents a mixed record on cannabis reform.
Notably, he voted against the Secure and Fair Enforcement (SAFE) Banking Act, citing specific concerns rather than outright opposition to the bill. &#8220;Vance's SAFER objections were about a specific issue, and he does not appear to be broadly against the bill,&#8221; Redmond explains.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39890659/kamala-harris-u-turn-on-cannabis-heres-where-she-stands-on-weed-legalization-now">Kamala Harris&#8217; U-Turn On Cannabis: Here&#8217;s Where She Stands On Weed Legalization Now</a></li>
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'Opaque Political Processes,' DEA Rescheduling Deadline, And Now A New Presidential Candidate, It's No Wonder Cannabis Stocks Are Over The Place

In a report released yesterday, Chris Lui from Jefferies maintained a Buy rating on Alibaba Health Information Technology (ALBHF – Research Report)...

Buy Rating Affirmed for Alibaba Health on Strong Financials and Strategic Acquisition

In a report released on January 1, Chris Lui from Jefferies maintained a Buy rating on Alibaba Health Information Technology (ALBHF – Research Repo...

Jefferies Remains a Buy on Alibaba Health Information Technology (ALBHF)

In a report released on January 5, Chris Lui from Jefferies maintained a Buy rating on Alibaba Health Information Technology (ALBHF – Research Repo...

Jefferies Sticks to Its Buy Rating for Alibaba Health Information Technology (ALBHF)

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Alibaba Health Information Technology (ALBHF – Res...

Analysts Offer Insights on Healthcare Companies: Alibaba Health Information Technology (OtherALBHF) and Insmed (INSM)

Alibaba Health Information Technology (HK:0241) has released an update. Alibaba Health Information Technology Limited has issued a total of 3,700,7...

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INSM

Alibaba Health Info Tech

<h4>Key Takeaways:</h4>

<ul>
	<li>Dingdang Health has passed a listing hearing in its second try at a Hong Kong IPO, aiming to raise $100 million</li>
	<li>The company has shifted from its original asset-light to a more asset-intensive model to make good on its promise of faster deliveries</li>
</ul>

By Emily Chan

Hong Kong is finally opening the door for digital retail pharmacy&nbsp;Dingdang Health Technology Group Ltd., approving the company&rsquo;s IPO at a listing hearing after rejecting its first attempt last year. But investors may be less welcoming of the company, whose Chinese name sounds like a doorbell ringing to emphasize the speedy deliveries that are also driving up its costs.

Following its failed application last year,DingdangHealthfiled for an IPO again in March and passed its listing hearings in the middle of this month. It has enlisted CICC and CMB International Capital Corp. as the deal&rsquo;s co-sponsors with the aim of getting listed by September. But the company is apparently tempering its expectations with a relatively modest goal of&nbsp;raising&nbsp;up to $100 million &ndash; just a tenth of what the market was expecting during frothier times last year.

According to its&nbsp;preliminary prospectus, Dingdang ranked third in the industry last year, trailing only rivals&nbsp;JD Health&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) and&nbsp;Alibaba Health&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ALBHF#OTC">ALBHF</a>), which are both backed by China&rsquo;s top two e-commerce companies. But the company is quite distant in its third-place position with only 1% of the market, far behind the 10% and 6.5%, respectively, for the other two.

Dingdang was founded in 2014 as a provider of real-time healthcare products and services to users through an integrated network with both online and offline components. Its services include online diagnosis, drug delivery, and health and chronic disease management services. It delivers drugs via its online platform and network of brick-and-mortar pharmacies. The company also uses major e-commerce platforms and other online distributors to hawk its products.

<h4>Rising revenue, rising losses</h4>

The company&rsquo;s revenue has been on the rise for the past four years, growing rapidly from 585 million ($85.4 million) yuan in 2018 to 3.68 billion yuan last year, and close to 1 billion yuan in the first quarter of this year. But its growth rate slowed from 118.1% in 2019 to just 26.6% in the first quarter of this year, indicating its fast-growth period may be coming to an end.

Its main source of revenue is its pharmaceutical and healthcare business, which accounted for more than 95% of its revenue. It also derives a small portion of revenue from providing marketing services.

Like most healthcare platforms, the company is in the red, with no signs of profitability on the horizon. Its losses increased from 103 million yuan in 2018 to 1.6 billion yuan last year. The annual figure looks set to be the same or even grow this year, with the company reporting a loss of 404 million yuan in the first quarter of 2022 alone.

The growing losses are the result of rising costs for just about everything, from operations to marketing, sales expenses and administration. Its preliminary prospectus shows its marketing expenses alone accounted for 19.8% to 22.7% of its total revenue in the last three years, and administrative expenditures surged from 4.5% of its total revenues in 2019 to 13.1% last year. The growing costs owe partly to the company&rsquo;s shift from an asset-light strategy to a more asset-intensive one that has seen Dingdang open more of its own brick-and-mortar pharmacies to boost efficiencies, including improved delivery times.

Dingdang&rsquo;s original asset-light model saw it partner more with third-party brick-and-mortar pharmacies to help it deliver goods to consumers, saving it the huge cost of building and operating its own pharmacies.

But it later identified problems with those partners, including in their supply systems, fee structures and especially in their frequent failure to honor Dingdang&rsquo;s promise to deliver goods to customers&rsquo; doorsteps within 28 minutes. To address that, the company established its own chain of smart pharmacies in major cities like Beijing, Shanghai, Guangzhou and Shenzhen. By the time of its IPO application, it had 351 such smart pharmacies across 17 Chinese cities. Those, together with added costs of its own delivery fleet, means the company&rsquo;s business is now a big consumer of both capital and labor.

<h4>Third-party platform reliance</h4>

Dingdang&rsquo;s online platform has been its main distribution channel, accounting for over 70% of its total revenue on average in the past three years. Its offline retail and distribution business account for most of the remainder at 16% and 11.5%, respectively.

Despite having its own mobile apps and WeChat business account, data from its prospectus shows that revenue generated over third-party platforms has grown as a proportion of the total over the past three years, reaching 72.6% in the first quarter of this year. That shows the company&rsquo;s strong reliance on third-party platforms, which can lead to problems due to having to play by those platforms&rsquo; rules. &nbsp;

Its third-party partners include&nbsp;Meituan&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPNGY#OTC">MPNGY</a>) and&nbsp;Ele.me,&nbsp;which charge commissions for the orders that come over their platforms. Those platforms also charge for other services like improving Dingdang&rsquo;s search rankings and doling out discounts to boost sales. According to its preliminary prospectus, Dingdang earned nearly 1.8 billion yuan over these platforms last year. But it paid nearly 100 million yuan in commissions for those sales, equal to 5.6% of the total figure.

Adding to its costs, the company must keep providing generous discounts to consumers to remain competitive with more deep-pocketed rivals like JD Health and Alibaba Health. It provided more than 1.3 billion yuan in consumer subsidies over the past three years combined, accounting for between 15% and 20% of total sales revenues, weighing on its profitability.

Dingdang is making its IPO in a weak market for internet healthcare stocks, which have slumped in recent years partly as a result of a revised Chinese law that outlaws the direct sales of pharmaceutical goods by third-party platforms to consumers. Shares of JD Health and Alibaba Health have tumbled about 60% and 85%, respectively, since the beginning of March last year.

Such strong headwinds are likely to dampen the company&rsquo;s chances of gaining an impressive valuation, which may also explain the severe reduction in its fundraising target compared with last year&rsquo;s.

The company previously raised over 3 billion yuan in seven financing rounds. The latest of those came in May last year, bringing in $220 million from investors including TPG Capital Asia, OrbiMed Advisors and Redview Capital.

TPG invested a hefty $100 million in exchange for 6.33% of the company, which suggests a valuation of 10.84 billion yuan. Given the company is still unprofitable, market sentiment is weak and recent steep declines for Alibaba Health and JD Health shares, Dingdang might find the door open for its listing in Hong Kong, but lukewarm investors inside when it sells its shares. Based on roughly 72% declines in its two main rivals&rsquo; valuations since the time of its last funding in May last year, Dingdang might expect a valuation of just 3 billion yuan now, making it difficult for its most recent investors to earn a profit on their investment.

Key takeaways:

<ul>
	<li>111&rsquo;s revenue grew 87% in second quarter, generally outpacing its peers, as it aims to more than double its fulfillment capacity this year</li>
	<li>Company&rsquo;s shares now trade around $6.50, well off a $23 high reached in February, as investors worry about regulatory wave for broader tech sector</li>
</ul>

By Mia Shanley

With massive revenue growth and market share gains in the bag, online drug seller&nbsp;111 Inc.&nbsp;(YI.US) has a new focus: earning a profit. The company was talking up that potential in its latest quarterly results, and followed that with a modest share buyback last week in a bid to excite skeptical investors.

Founded in 2010, 111 now boasts one of the biggest networks selling to online and brick-and-mortar pharmacies in China, and also operates its own online retail pharmacy. It sells directly to more than 300,000 pharmacies &ndash; including independents, chains, clinics and private hospitals &ndash; and operates in almost 900 cities where it can deliver drugs in less than 24 hours.

The Shanghai-based company has chalked up several consecutive quarters of robust revenue growth, including in its&nbsp;<a href="https://www.prnewswire.com/news-releases/111-inc-announces-second-quarter-2021-unaudited-financial-results-301364183.html">latest results</a>&nbsp;announced late last month. Revenues in this year&rsquo;s second quarter rose 86.5% to 3 billion yuan ($468.4 million), driven predominantly by its core B2B sales to pharmacies and healthcare providers.

The vast majority &ndash; about 96% &ndash; of its revenue came from its B2B business, while the remainder came from its modest B2C business selling drugs directly to consumers. B2B typically carries far smaller margins than B2C, which may partly explain why the company has faced big hurdles becoming profitable.

But profitability is clearly now in focus, a factor which could finally help breathe life into the company&rsquo;s lackluster shares in the coming quarters. 111&rsquo;s shares are trading at about $6.50, well off an all-time high of over $23 in February as investors briefly cheered its status as a leading player in China&rsquo;s huge market for drug distribution. &nbsp;

But that was before Chinese regulators started a series of crackdowns on tech companies targeting everything from anti-monopolistic behavior to data security and after-school education. While drug companies have yet to fall into the regulator&rsquo;s crosshairs, 111&rsquo;s stock got sucked into the broader selloff that sent shares of many U.S.- and Hong Kong-traded tech companies tumbling.

Rather than dwell on that, 111 has turned its attention to its bottom line with a goal of breaking even within the next 12 to 18 months, management said on its earnings call. The company has never posted an annual profit in its three years as a publicly traded company.

&ldquo;Improving our bottom line will be a key focus for us going forward,&rdquo; CFO Chen Yang, who also uses the name Luke Chen, said on the company&rsquo;s quarterly earnings call. &ldquo;We will be focusing on improving margins and reaching profitability.&rdquo;

The company&rsquo;s non-GAAP net loss stood at 118 million yuan for the quarter, widening from 78.8 million yuan in the same period a year earlier. But as a percentage of revenues the loss shrank to 3.9% in the second quarter from 4.9%, indicating the company&rsquo;s margins were improving as it builds up scale.

Chen said gross margin for the company&rsquo;s main B2B business improved to 3.8% in the latest quarter from 3.4% a year earlier, reflecting the razor-thin margins for that part of the business. By comparison, the company&rsquo;s B2C business margin stood at a much higher 20%, though that figure was unchanged from a year earlier, he added.&nbsp;

Changing Fortunes

Drug suppliers like 111 and the many retailers it counts as B2B customers saw their fortunes change overnight in 2019 when the government ended the near-monopoly that hospitals previously had on prescription drug sales, paving the way for others to move in. The Covid-19 pandemic has also lifted sales as patients raced to buy drugs and seek medical advice online.

111 has been busy building up its logistics network to meet surging demand. It plans to expand fulfillment capacity to about 243,000 square meters by the end of its financial year, more than doubling the amount of space it had at the start of the year.

Its revenue growth has been outpacing peers, including more B2C-focused online healthcare giants like&nbsp;Alibaba Health Information Technology Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ALBHF#OTC">ALBHF</a>) and&nbsp;JD Health&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/JDHIF#OTC">JDHIF</a>).

In the first half of the year, 111 saw a 76% increase in revenues. That compared with a 55.4% rise at JD Health, which also remains in the red, and a 39% increase at rival&nbsp;Ping An Good Doctor&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/PANHF#OTC">PANHF</a>), which markets itself as a one-stop online medical portal. Alibaba Health, which is already profitable, saw revenues rise 62% in its fiscal year ended March 31.

The market potential is huge thanks to China&rsquo;s aging population and increasing wealth. Online retail drug sales in China are forecast to reach 177 billion yuan by 2028, accounting for about 30.8% of total sales, according to a report last year by Deloitte. Prescription drug sales could grow annually by almost 60% while over-the-counter medicines should grow 32%, the report said.

111 is clearly keen to be taken seriously by investors who may favor higher-margin B2C drug sellers. The company, which listed in 2018 and had a solid cash position of 1 billion yuan at the end of the second quarter, last week announced a modest $10 million&nbsp;<a href="https://www.prnewswire.com/news-releases/111-inc-announces-10-million-share-repurchase-program-301369963.html">share buyback program&nbsp;</a>&ndash; a move that looks largely symbolic and aimed at showing investors it thinks it is sorely undervalued.

Its share price rose to almost $8 on the day of that announcement, but struggled to keep up the momentum and has been on a steady decline since.

Worries over future regulation, especially for the bigger players in the digital healthcare sector, have weighed heavily on shares. With regulators already taking action targeting education and data security, some analysts say that China&rsquo;s healthcare sector could be next in the line of fire.

Indeed, shares of both JD Health and Alihealth have plunged 50% so far this year. 111 shares are down a more modest 10% in the same period, perhaps reflecting market expectation that regulatory action might be more targeted at bigger internet names, and at B2C rather than B2B drug sellers. .

Government officials may also find it harder to justify reining in companies like 111, which have made it their mission to improve healthcare access for millions of Chinese and address inequalities. Through its offerings, 111 has helped lower the cost of treatment and vastly improved healthcare access to rural areas in particular.

Company executives sought to downplay concerns over regulation of the sector on the earnings call, saying they welcomed policies aimed at containing unfair practices.

&ldquo;We view the recent regulatory actions as a tailwind rather than a headwind for 111,&rdquo; said Chairman and CEO Liu Junling.

CanSino Biologics Inc. (OTC:<a class="ticker" href="/stock/CASBF#OTC">CASBF</a>), a Chinese vaccine maker, has <a href="https://fortune.com/2020/05/21/coronavirus-vaccine-cansino-stock-share-price/">emerged</a> as the rising star of the Hong Kong market, after its COVID-19 clinical trial application was approved by Health Canada, the&nbsp;country&#39;s federal health policy department.

CanSino Biologics&rsquo; shares rose 380% in 2020, making it the darling of Hong Kong investors. The shares have outperformed all others with a market capitalization in excess of $2 billion in recent days, reported Fortune.

<h3>What Happened</h3>

The gains seen in CanSino have led to a word of caution from an expert. Castor Pang, head of research at Core Pacific-Yamaichi International Hong Kong, told Fortune, &ldquo;No one knows how much CanSino is worth.&rdquo;&nbsp;

Pang warned, &ldquo;People are making bets on the success of its vaccine, but the trial is just in stage two and there is possibility for it to fail.&rdquo;

<h3>Why It Matters</h3>

Health care stocks are performing well in Hong Kong this year, with AK Medical Holdings Ltd. higher by 184% as of Thursday morning, and Alibaba Health Information Technology Ltd. (OTC:<a class="ticker" href="/stock/ALBHF#OTC">ALBHF</a>) gaining 130%.

In the United States,&nbsp;it&rsquo;s a similar story as Moderna Inc. (NASDAQ:<a class="ticker" href="/stock/MRNA#NASDAQ">MRNA</a>) gained as much as 20% on Monday and shot up 275.66% on a year-to-date basis.

Moderna&rsquo;s shares fell by 6% on Tuesday after it was <a href="https://www.benzinga.com/news/20/05/16071397/moderna-vaccine-trial-missing-data-to-judge-vaccine-efficacy-experts-say">revealed</a> that its vaccine trial was missing critical data.

<h3>Price Action&nbsp;</h3>

CanSino Biologics OTC shares closed 0.74% lower at $32.25 on Wednesday. On Thursday, the company&rsquo;s shares traded lower by 14.47% at $27.15 in Hong Kong at press time.

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