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When you think of <a href="https://www.benzinga.com/money/best-industries-to-invest-in">booming industries</a>, you might jump to tech giants, pharmaceuticals, or renewable energy. But some of America&#8217;s biggest and most surprising moneymakers come from places you might not expect. Here are five unexpected sectors that are thriving and the reasons behind their success.
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<h2 class="wp-block-heading">Baked Goods: A Tasty $82 Billion Industry</h2>
Yes, you read that right. The humble baked goods industry in the U.S. was worth a staggering $82 billion in 2022. From artisanal bread to decadent pastries, Americans love their baked treats.&nbsp;
This boom is partly because people are increasingly interested in high-quality, freshly baked products. The rise of health-conscious and specialty diets has also contributed, with gluten-free, organic, and vegan options taking a big slice of the market.
See Also: Here&#8217;s the AI-powered startup that turns traders into influencers achieving 12% monthly growth –<a href="https://www.benzinga.com/money/xtrades"> invest in it at only 10 cents per share.</a>
<h2 class="wp-block-heading">Used Luxury Watches: Time Is Money With A $4 Billion Market</h2>
Luxury watches are another booming market. The demand is very high, and supply is relatively low, so the market for used watches is exploding. In 2022, the U.S. luxury watch market, including pre-owned timepieces, was valued at $4 billion, and the global luxury watch market is projected to reach $37 billion by 2032, according to a CNBC report.&nbsp;
This growth can be attributed to the increasing appreciation of watches as investment pieces, despite Jean-Frédéric Dufour, <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38138323/rolex-ceo-does-not-like-treating-luxury-watches-as-stock-investments-this-sends-the-wrong-">the CEO of Rolex, saying</a>, &#8220;I don&#8217;t like it when people compare watches with stocks. This sends the wrong message and is dangerous.&#8221;&nbsp;
Nevertheless, <a href="https://www.benzinga.com/money/how-to-invest-in-watches">collectors and enthusiasts are willing to spend big</a> on rare and vintage models, driving up demand and prices. Brands like Rolex, Patek Philippe, and Audemars Piguet, the Swiss watch industry leaders, witnessed a price surge for pre-owned watches in 2021 and early 2022.
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Trending: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?
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<h2 class="wp-block-heading">Phone Repairs: Keeping Us Connected For $8.3 Billion</h2>
Smartphones are essential. There&#8217;s no getting around that fact. So, it's no surprise that we need them fixed fast when they break. In 2023, Americans spent a whopping $8.3 billion on smartphone repairs. With the high cost of new phones, many people prefer repairing rather than replacing their devices. A growing number of repair shops and services popping up has made it more convenient and affordable to get phones fixed quickly.
The right-to-repair movement has also made a big impact as it pushes for consumers to have easier access to parts and info needed to fix their devices, helping people keep their smartphones working longer. For example, <a href="https://www.benzinga.com/top-stories/24/03/37975666/apple-device-repairs-might-soon-get-cheaper-and-easier-oregons-historic-righ-to-repair-law-to-ban-pa">Oregon recently passed a right-to-repair bill</a> that outlaws the controversial practice of parts pairing in repairs.
<h2 class="wp-block-heading">Hot Sauce: Heating Up A $1.5 Billion Market</h2>
America&#8217;s love affair with hot sauce is hotter than ever. According to Business Insider, the market reached $1.5 billion and is set to surpass $15 billion globally by 2031, according to Transparency Market Research.
From the classic Tabasco to artisanal, small-batch brands, the variety and quality of hot sauces have exploded. The increasing interest in diverse and spicy cuisines and a growing number of hot sauce enthusiasts and collectors have spiced up this market significantly.
While these industries could be seen as surprising by some, or even many, their success shows just how diverse and changing American tastes are. Nevertheless, we all must remember that things can change and that these and many other sectors won&#8217;t keep growing forever. Economic changes, shifting consumer preferences, and new regulations can all affect these booming markets. Like any industry, <a href="https://www.benzinga.com/general/24/04/38254603/warren-buffett-says-the-key-to-success-isnt-having-the-greatest-business-idea-in-the-world-the-test">staying successful will require constant innovation and adaptation</a>.
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Startups

These Surprising, Billion-Dollar American Industries Will Blow Your Mind. Find Out Which Unexpected Sectors Are Booming And Why

<a href="https://www.benzinga.com/topic/kamala-harris">Kamala Harris&#8217;s</a> infectious laughter has been a topic of discussion in political circles since she assumed office as Joe Biden's VP in January 2021. And now, her laugh has practically gone viral among critics, led by her main competitor <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump,</a> who seems to be making her easy laugh a campaign issue, which he's already exploiting.
"I call her Laughing Kamala. You ever watch her laugh?… She's crazy. She's nuts," the former president said at a recent rally in Michigan.
While Harris's laugh is apparently viewed positively by supporters as the natural expression of her personality, which is usually the case with laughter, the Trump campaign and its friend <a href="https://www.thedailybeast.com/sean-hannity-says-adversaries-like-russia-and-china-will-snub-kamala-because-of-her-laugh">Sean Hannity at Fox News</a> are piling on to undermine her. They are calling her laugh a liability and much much more as they veer into racist and sexist territory.
<h2 class="wp-block-heading">NY Times Comedy Columnist Begs To Differ</h2>
"Far from a liability, her laugh is one of her most effective weapons," <a href="https://www.nytimes.com/2024/07/28/arts/kamala-harris-laugh.html">says</a> New York Times Jason Zinoman who writes a comedy column. "Only in an era when everything gets politicized would a campaign come out aggressively against boisterous laughter."
Harris herself has addressed the origins of her laugh, attributing it to familial traits and personal joy. On more than one occasion, Harris <a href="https://www.benzinga.com/markets/cannabis/24/07/39998398/kamala-harris-admits-i-inhaled-marijuana-and-now-pushes-for-legalization-what-this-means-for-202">has said, while laughing</a>, that cannabis "gives a lot of people joy, and we need more joy in the world." Amen to that.
Read Also: <a href="https://www.benzinga.com/news/24/07/40001853/trump-vs-harris-harris-leading-trump-in-maine-has-edge-with-gen-z-nationally">Trump Vs. Harris: Harris Leading Trump In Maine, Has Edge With Gen Z Nationally</a>
<h2 class="wp-block-heading">Why Is Trump And His Supporters Bothered By Harris's Laugh?</h2>
The Atlantic posits that the Trump campaign was caught off guard by the dizzying speed with which Harris became the 2024 Democratic presidential nominee following <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">Biden's announcement</a> to leave the race. Due to Harris's ever-increasing support, Trump had to quickly come up with some new snarky attack lines against her. It seems he's going with "Laughing Kamala" or is it "Cackling Kamala"?
<h2 class="wp-block-heading">What Does Genuinely Laughing Say About A Person?</h2>
That he or she is human. "In a divided country, it's something we all do and enjoy. And as anyone who has hung out with friends late into the night knows, it's contagious. That's a powerful political tool," said NYT's Zinoman. "As the poet Ella Wilcox wrote, ‘Laugh and the world laughs with you.'"
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</ul>
Photo: Shutterstock

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Kamala Harris's Hearty Laugh: Why Does It Bother Donald Trump And His Followers So Much?

Provista Health, a Dallas-based hospice provider, <a href="https://www.benzinga.com/government/24/07/39865874/financial-crime-weekly-davita-agrees-to-pay-34-5m-for-kickbacks-hospice-provider-doles-out-19-4m-for">has been ordered</a> to pay $26.3 million for billing Medicare for a variety of medically unnecessary respiratory pathogen panel (RPP) tests that were given to nursing homes during the pandemic, the Department of Justice announced on Thursday.
On July 18, the U.S. District Court for the District of Maryland entered default judgments totaling the aforementioned amount against Provista and other laboratory companies owned by Patrick Britton-Harr for violating the False Claims Act. 
In a July 2023 complaint, the U.S. alleged that the RPP tests were not medically necessary because the beneficiaries had no symptoms of a respiratory illness and because the tests were for uncommon respiratory pathogens.
The complaint also alleged that Britton-Harr and Provista submitted claims for RPP tests that were never ordered by physicians and sometimes for RPP tests that were never performed, including over 300 claims for nasal swab test samples that were supposedly collected from beneficiaries who had already died.
Three Individuals Sentenced To Jail For Selling Pirated Business Telephone Software 
A married couple and a third individual have been sentenced to jail for selling tens of thousands of pirated business telephone system software licenses with a retail value of over $88 million, the DOJ said.
Raymond Bradley "Brad" Pearce, 48, of Tuttle, Oklahoma, a computer system administrator, was sentenced on Thursday to four years in prison and ordered to pay $4 million. In June, Dusti O. Pearce, 46, his wife who also lives in Tuttle, was sentenced to one year and a day in prison and was ordered to pay $4 million. 
Jason M. Hines, 44, of Caldwell, New Jersey, received an 18-month prison sentence and another 18 months of home confinement and was ordered to pay $2 million.
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The trio, who pleaded guilty to conspiracy to commit wire fraud in 2023, will also pay restitution as follows: $17 million for Brad Pearce, $10 million for Dusti Pearce and more than $5 million for Hines. 
The Pearces conspired with Hines to commit wire fraud in a scheme that involved making and selling unauthorized Avaya Direct International (ADI) software licenses used to unlock functionalities of the IP Office telephone system. 
Avaya Holdings Corporation, a California-based international business communications company that sold IP Office, also sold software licenses that unlocked IP Office&#8217;s functions.
Brad Pearce, a customer service employee at Avaya, used his system administrator privileges to generate tens of thousands of ADI software license keys that he illegally sold to Hines and other customers, who in turn sold them to resellers and end users worldwide.
He also hijacked the accounts of former Avaya employees to make more license keys, concealing the overall scheme by changing information on the accounts, while Dusti Pearce served as the illegal operation&#8217;s accountant.
Doctor Faces Years In Prison For Illegally Distributing Controlled Substances, Defrauding Health Care Benefit Programs
A federal jury convicted a Louisiana physician yesterday for conspiring to illegally distribute over 1.8 million doses of Schedule II controlled substances, including oxycodone and morphine, and for defrauding health care benefit programs of more than $5.4 million, the DOJ said on Tuesday.
According to court documents, Adrian Dexter Talbot, 58, owned and operated Medex Clinical Consultants in Slidell, Louisiana, that accepted cash payments for controlled substances.
Talbot ignored signs that individuals frequenting Medex were drug-seeking or abusing the drugs prescribed. 
In 2015, he left pre-signed prescriptions for opioids and other controlled substances at his clinic so that individuals who never saw him could acquire the drugs while he was working a full-time job in Pineville.
In 2016, he hired another practitioner who also pre-signed prescriptions to be distributed in the same manner at the Slidell clinic in exchange for cash deposited into the Medex account.
Talbot falsified patient records to cover up the scheme, in which individuals used insurance benefits to fill prescriptions. This resulted in fraudulent billing to health care benefit programs because prescriptions were written without a proper patient examination or determination of medical necessity.
He faces up to 10 years in prison for conspiracy to commit health care fraud and 20 years in prison for the other counts. 
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Health Care

Financial Crime Weekly: Hospice Provider Fined $26.3M For False Covid Claims, Trio Sent To Jail For Selling $88M In Pirated Business Telephone Software

Jeremy from Tulsa, Oklahoma, received some eye-opening advice from personal finance expert <a href="https://www.benzinga.com/personal-finance/24/07/39938702/dave-ramsey-says-the-fire-movement-isnt-sustainable-to-caller-who-spent-5-years-working-3-jobs-t">Dave Ramsey</a> during an episode of the popular Ramsey Show. Here's what went down during the exchange.&nbsp;
Ramsey is known for his blunt and honest advice, which caller Jeremy experienced firsthand when he asked the finance guru whether he should buy rental properties as an investment while still in debt. Jeremy explained his situation to Ramsey, saying that he and his wife are currently in massive <a href="https://www.benzinga.com/personal-finance/24/07/39955016/norwegians-did-it-in-the-70s-we-could-do-it-today-says-kevin-oleary-about-using-gas-and-oil-to-p">debt</a> from student loans. He explains, "My wife and I are both recent graduates. We have an astronomical debt of $290,000 in student loans."&nbsp;
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Ramsey's first response to that eye-watering debt was to ask who the doctor was. Jeremy tells Ramsey that both he and his wife are well-educated. His wife has a doctorate in physical therapy, and he has a master&#8217;s in environmental safety. This situation reflects what many people in the U.S. encounter when pursuing higher education. On average, the total costs per year for a doctoral program are around $40,900, so studying for a Ph.D., which can take 4-8 years, can set you back by $163,600-$327,200. By the end of 2023, 43.2 million Americans had federal student loans, with a national balance of $1.6 trillion.&nbsp;
With his current financial situation revealed, Jeremy then asked Ramsey if buying rental properties as an investment is a good idea. If you've ever listened to Ramsey before, you know his stance on debt and spending. So, before Jeremy could finish his question, Ramsey exclaimed in disbelief that it was a bad idea for someone with close to $300,000 in debt to purchase rental properties as an investment. Ramsey tells Jeremy that this is a bad idea and that no, he should not buy rental properties. Instead, Ramsey&#8217;s advice is to work harder than he's ever worked before to clear his debt.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?
<hr class="wp-block-separator has-alpha-channel-opacity" />
Jeremy and his family acknowledge their financial troubles, and thanks to Ramsey's advice, they have sold their home because they could not afford it. So far, they have paid off $10,000 in debt with $35,000 from selling the house, and their current rental house costs $800 per month. With this in mind, Jeremy thinks they can buy a $60,000 house with a $400,000 mortgage to help pay off debt, which Ramsey feels is risky.&nbsp;
While Ramsey may believe investing in debt is not advisable, others disagree, such as Dr. DeForest B. Soaries, an expert in financial education and author of the bestselling book, "Say Yes to No Debt." Additionally, SmartAsset reported that debt can be a powerful tool for building wealth if used correctly, which Jeremy plans to do by utilizing his debt to invest in property, potentially generating income to clear his debt. Investing in real estate is a time-tested method for building long-term wealth because it involves acquiring valuable assets, and using a mortgage is a common way to gain equity.&nbsp;
See Also: Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a>
<h2 class="wp-block-heading">What was Ramsey's final piece of advice for Jeremy?&nbsp;</h2>
He told Jeremy seriously, "You have $300,000 in student loan debt, dude. Don't talk to me about buying a rental house." Instead, he urged Jeremy to get out of debt first and keep his life simple. His final advice for the indebted couple was, "Quit trying to borrow your way through all of your dreams. You're turning them into nightmares."&nbsp;
While Ramsey feels this way, Katie Ross, executive vice president for the nonprofit national financial education organization American Consumer Credit Counseling (ACCC), believes that investing while in debt is not necessarily a bad thing; it's more of a balancing act. Ross admits that you'll have less money for investment while paying off debt, but it is possible to both invest and pay down debt. To do this, Ross suggests creating a debt management plan to invest and pay off debt.&nbsp;
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<li>How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a></li>
</ul>

Personal Finance

Dave Ramsey Tells Man $300,000 In Debt That He Needs To Stop Trying To 'Borrow His Way Through All Of His Dreams'

Vice President Kamala Harris leads former President Donald Trump in Democratic-leaning Maine by 8 points, with the <a href="https://www.benzinga.com/news/24/07/39999337/survey-reveals-how-americans-feel-about-a-potential-female-president-and-what-it-means-for-kamala-ha">November election just 100 days away</a>.
What Happened: A poll conducted by the University of New Hampshire on Friday shows Harris in the lead with 48% of Maine voters&#8217; support, while Trump trails behind with 40%.
Independent Robert F. Kennedy Jr. is at 4%, while Libertarian Chase Oliver, Green Party nominee Jill Stein, and independent Cornel West each draw 1% support.
Despite Harris&#8217; lead, she may not be able to count on Maine&#8217;s four electoral votes. Maine is one of two states that awards electors by congressional district, and while Harris leads overall and in the southern 1st District, which leans left, Trump is ahead by 4 points in the more conservative 2nd District. Trump won that district in both 2016 and 2020, taking one of the state&#8217;s electoral votes.
Neither Harris nor Trump has a net favorable rating in the poll. 42% of respondents have a favorable view of Harris, while 46% hold an unfavorable view. Trump was viewed favorably by 36% of respondents, with 58% viewing him unfavorably. Republican vice-presidential nominee JD Vance is viewed favorably by just 31% of respondents, with 46% unfavorable.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
Fox News Poll
A Fox News <a href="https://static.foxnews.com/foxnews.com/content/uploads/2024/07/Fox_July-22-24-2024_Pennsylvania_Topline_July-26-Release.pdf">poll</a> released on Friday reveals that a majority of voters in Michigan, Minnesota, Pennsylvania, and Wisconsin support President Joe Biden&#8216;s decision to step down from the presidential race.
The polls, conducted from July 22 to 24, display a neck-and-neck race between Harris and Trump, echoing the Biden-Trump contest in April.
In Michigan and Pennsylvania, Harris and Trump are neck-and-neck. Trump has a slight lead in Wisconsin, while Harris has a six-point lead in Minnesota.
Gen Z Voters Prefer Kamala Harris Over Trump
A recent <a href="https://www.axios.com/2024/07/25/poll-harris-biden-trump-young-voters">poll</a> conducted by Axios/Generation Lab, has revealed that Harris is more favored than Trump among the youngest voters in America, those aged between 18 and 34.
The poll reveals that 60% of Gen Z voters and younger millennials would choose Harris over Trump in a head-to-head matchup, with Trump at 40%.
When the same question was asked with Biden as the Democratic nominee, Trump&#8217;s support among young voters increased to 47%. This poll was conducted soon after Biden announced his withdrawal from the presidential race and publicly endorsed Harris.
Since becoming the presumptive Democratic nominee, Harris has seen a surge in popularity on social media platforms like TikTok, where she gained over 1 million followers just hours after posting her first video.
Why It Matters: The results of these polls are significant as they come with the election entering a new phase and its final stretch.
Furthermore, the positive trend for Harris&#8217; campaign highlights shifting political dynamics and voter preferences.
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Photo: Shutterstock

Trump Vs. Harris: Harris Leading Trump In Maine, Has Edge With Gen Z Nationally

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What's New In the Consumer Tech World Last Week? News That You Should Know (June 21-June 27, 2024)

Elon Musk is making headlines again, this time for sharing a manipulated video of Vice President Kamala Harris on his social media platform, X. The video, which was originally an ad campaign for Harris, was digitally altered and has since stirred up a storm of controversy.
What Happened: Musk shared a manipulated video of Harris on his social media platform, X. The video, originally an ad campaign for Harris, was digitally altered to change the voice-over in a deceptive manner, making Harris appear to say that President Joe Biden is senile and that she is the &#8220;ultimate diversity hire.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is amazing &#x1f602; <a href="https://t.co/KpnBKGUUwn">pic.twitter.com/KpnBKGUUwn</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1816974609637417112?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
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According <a href="https://www.nytimes.com/2024/07/27/us/politics/elon-musk-kamala-harris-deepfake.html">to </a>The New York Times, the video has been viewed 98 million times since Musk&#8217;s repost and appears to violate X&#8217;s policies against sharing manipulated or out-of-context media. Alex Howard, a digital governance expert, called out the post as a violation of X&#8217;s policies.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures">What A Second Trump Presidency Would Mean For Elon Musk And His Many Ventures</a>
The Harris campaign responded to the video, criticizing the &#8220;fake, manipulated lies of Elon Musk and Donald Trump.&#8221; Musk has not commented on the issue, and the original poster, conservative podcast host Chris Kohls, has also remained silent.
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<iframe loading="lazy" title="Kamala Harris Launches Her Campaign for President" width="500" height="281" src="https://www.youtube.com/embed/sHky_Xopyrw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Why It Matters: Deepfakes, or digitally manipulated content that spreads false information, have been a growing concern for pro-democracy groups. 
The Federal Election Campaign Act prohibits fraudulent misrepresentation of federal candidates, but the law is ambiguous when it comes to modern technologies like artificial intelligence.
Despite the controversy, neither Musk&#8217;s post nor the original has been removed from X. Musk, who has 191 million followers, wields significant influence on the platform and can make any content go viral simply by reposting it.
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<li><a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a></li>
</ul>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Musk Appears To Violate Own Social Media Platform's Guidelines, Posts Manipulated Video of Kamala Harris

In the latest development in the ongoing custody battle between Elon Musk and Grimes, Musk has been accused of withholding his children from their mother and great grandmother. The claim was made by Sandy Garossino, Grimes&#8217; mother, in a series of posts on X over the weekend.
What Happened: Garossino posted that Grimes and her children were scheduled to visit their 93-year-old great grandmother in Canada. However, the trip was cancelled as Musk allegedly withheld the children and their necessary passport documents.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dear Elon <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> It was nice seeing you on Father's Day. I hope you got the card that I helped X make. He was so proud of it. I'm writing here as the only way I have to reach you. As you know, my 93 year old mother is now at end-of-life palliative care.
&mdash; Sandy Garossino &#x1f1e8;&#x1f1e6;&#x1f33b; (@Garossino) <a href="https://twitter.com/Garossino/status/1817220477427093963?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
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Musk and Grimes, a Canadian singer, have three children together: X Æ A-Xii, Exa Dark Sideræl, and Techno Mechanicus. Musk was spotted at the 2024 Paris Olympic Games opening ceremonies with their eldest son and attended a speech by Israel&#8217;s Prime Minister in Washington, DC.
Also Read: <a href="https://www.benzinga.com/news/22/03/26313551/elon-musk-admits-he-is-lonely-after-his-split-with-grimes-says-hes-not-afraid-to-die-2">Elon Musk Says You Need 2 Things To Be &#8216;Fully Happy,&#8217; If You Lack 1 You&#8217;ll Be &#8216;Half Happy&#8217;</a>
&#8220;I am alarmed to learn that the children cannot come as you are withholding them and their needed passport documents from Claire,&#8221; Garossino wrote, referring to Grimes by her given first name.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am alarmed to learn that the children cannot come as you are withholding them and their needed passport documents from Claire. It was even more troubling to see you and X on television at the Olympics in Paris yesterday, after your DC trip earlier in the week.
&mdash; Sandy Garossino &#x1f1e8;&#x1f1e6;&#x1f33b; (@Garossino) <a href="https://twitter.com/Garossino/status/1817220479931101352?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron DeSantis Says Florida Supreme Court Should &#8216;Not Have Allowed&#8217; Cannabis Legalization Initiative On Bal</a>
Garossino also questioned the whereabouts of the other children, writing, &#8220;Where are the other children, and with whom? They are scheduled to be with their mother. They were expected here in Canada.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Where are the other children, and with whom? They are scheduled to be with their mother. They were expected here in Canada.
&mdash; Sandy Garossino &#x1f1e8;&#x1f1e6;&#x1f33b; (@Garossino) <a href="https://twitter.com/Garossino/status/1817220481164197976?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
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Why It Matters: This incident adds another layer to the ongoing custody dispute between Grimes and Musk, which began in 2022. The current status of the case is unknown as the court records were sealed in April 2024.
Musk&#8217;s estranged daughter, Vivian Jenna Wilson, also criticized Musk, claiming he has been &#8220;illegally and continuously keeping their children, her children, away from their mother during the most important developmental period in a child&#8217;s life.&#8221;
<a href="https://www.benzinga.com/24/07/39975349/elon-musks-transgender-daughter-vivian-wilson-speaks-out-about-fathers-absence-and-cruelty-hes-very">Grimes expressed her support for Wilson in a post</a> following an NBC News interview. However, no further comments have been made by Garossino, Musk, or Grimes&#8217; representatives on the matter.
Read Next
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<li><a href="https://www.benzinga.com/news/22/12/30195280/elon-musks-ex-girlfriend-grimes-says-mark-zuckerberg-wildly-under-qualified-to-run-metaverse">Elon Musk&#8217;s Ex-Girlfriend Grimes Says Mark Zuckerberg &#8216;Wildly Under Qualified&#8217; To Run Metaverse</a></li>
</ul>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Social Media

Grimes' Mother Accuses Musk Of Withholding Children Amid Custody Battle: 'Please Elon, I Beg You'

Key figures in the world of finance are rallying behind Vice President Kamala Harris in spite of her past tensions with Wall Street and her potential <a href="https://www.benzinga.com/news/24/07/39999337/survey-reveals-how-americans-feel-about-a-potential-female-president-and-what-it-means-for-kamala-ha">impact on financial sector stocks</a> if elected president.
What Happened: Billionaires such as Jonathan Gray of Blackstone, Marc Lasry from Avenue Capital Management, and philanthropist George Soros are among those endorsing Harris. 
Other high-profile supporters include media mogul Barry Diller and construction industry leader Bob Clark.
Key figures in finance, including Lazard&#8217;s CEO Peter Orszag, Evercore ISI&#8217;s co-founder Roger Altman, and Robert Rubin, ex-co-chairman of Goldman Sachs, are also reportedly backing Harris, Forbes <a href="https://www.forbes.com/sites/dereksaul/2024/07/27/kamala-harris-and-wall-street-heres-whos-backing-her-this-time-despite-fraught-history/">reports</a>.
Harris&#8217; stance on financial regulation is not extensively documented. But during her tenure as California&#8217;s attorney general, she negotiated a $20 billion settlement for homeowners with major banks over mismanagement of mortgages during the financial crisis.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
According to the Forbes report, in her 2019 memoir, Harris compared a phone conversation with JPMorgan Chase CEO Jamie Dimon during those settlement talks to &#8220;two dogs in a fight.&#8221;
While a potential Harris administration&#8217;s policies towards banks remain uncertain, analysts predict that Donald Trump could be more beneficial to financial firms. Wall Street billionaires who are supporting Trump include former TD Ameritrade chairman J. Joe Ricketts, renowned investor John Paulson, and Stephen Schwarzman, who is Gray&#8217;s superior at Blackstone.
Why It Matters: The support for Harris from prominent Wall Street figures is intriguing given her past confrontations with the financial sector. Her pursuit of big banks during the mortgage crisis and her critical comments about industry leaders suggest a potentially tougher regulatory stance.
However, her backers may be betting on her ability to balance regulation with economic growth. The support from Wall Street could also indicate a desire for stability and predictability in policy-making, which could be beneficial for financial markets.
Read Next
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39999129/experts-weigh-in-on-harriss-fast-track-campaign-strategy-following-bidens-exit-i-think-shes-done-a-v">Experts Weigh In on Harris&#8217;s Fast-Track Campaign Strategy Following Biden&#8217;s Exit: &#8216;I Think She&#8217;s Done A Very Good Job&#8217;</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Here Are All The Wall Street Titans Backing Harris's Presidential Bid So Far

Silicon Valley billionaire Peter Thiel is reportedly reconsidering his stance on former President Donald Trump in light of Trump&#8217;s selection of Sen. JD Vance, a close political ally of Thiel, as <a href="https://www.benzinga.com/news/24/07/39761289/trumps-niece-accuses-him-of-lying-about-involvement-in-controversial-project-2025-my-uncle-likes-to">his running mate</a>.
What Happened: Thiel&#8217;s relationship with Trump has cooled since 2022, when he invested $35 million to help elect Vance in Ohio and in the failed Senate campaign of Blake Masters in Arizona. Thiel, who donated more than $1 million to the Trump campaign in 2016, did not contribute to Trump&#8217;s re-election campaign in 2020.
The New York Times <a href="https://www.nytimes.com/2024/07/27/us/politics/peter-thiel-trump-jd-vance.html">reports</a> that though Thiel has not officially endorsed the Trump-Vance ticket, he has voiced optimism about a Trump return to the White House with Vance as vice president. Thiel also said that he is not yet ready to make a substantial financial contribution to the Trump-Vance campaign.
"I always try to resist getting swept up in excitement. But in spite of many misgivings I had earlier this year, it makes me more hopeful that a second Trump term will be better than the first," Thiel told the Times.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
As of now, he remains undecided about his financial involvement in the current campaign, stating that he is &#8220;disinclined to do it.&#8221;
"I went&nbsp;on record&nbsp;saying I would not give money to super PACs, and I still feel I have to stick with that. I think it's going to be very different from 2016 or 2020. I don't think the election is going to be close. I think Trump and JD will crush the election by a solid margin — 4 percent or 5 percent of the popular vote. And it doesn't matter what I do. It doesn't matter what Democrat donors do," Thiel added. 
Why It Matters: Thiel&#8217;s potential support for the Trump-Vance ticket could be a significant game-changer in the upcoming election. Thiel&#8217;s influence in Silicon Valley and his financial backing could provide a substantial boost to the campaign.
However, his reluctance to make a financial commitment at this stage adds an element of uncertainty. The selection of Vance as VP, a move likely aimed at securing Thiel&#8217;s support, underscores the importance of major donors in political campaigns.
Read Next
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<li><a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an" target="_blank" rel="noreferrer noopener">Ex-Trump Staffer Shares Texts To Prove That Ex-President's Campaign Settled To Keep Discrimination And Sexual Harassment Lawsuits Quiet</a></li>
</ul>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Thiel Reportedly Reassessing Trump In Wake Of Vance Pick 'In Spite Of Many Misgivings' He Had Earlier This Year

These six mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares jumped 47.88% as the company successfully completed its <a href="https://www.benzinga.com//node/39958682" target="_blank" rel="noreferrer noopener">first five commercial satellites</a>.</li>
<li>Goosehead Insurance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSHD#NASDAQ">GSHD</a>) stock upped 39.86% following <a href="https://www.benzinga.com//node/39941916" target="_blank" rel="noreferrer noopener">upbeat second-quarter results</a>.</li>
<li>ViaSat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) shares escalated by 30.78%. The company announced a <a href="https://www.benzinga.com//node/39973735" target="_blank" rel="noreferrer noopener">new reporting segment structure</a>.</li>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) shares grew 29.86% after the company announced the <a href="https://www.benzinga.com//node/39966690" target="_blank" rel="noreferrer noopener">advancement of VK2735 to Phase 3</a>.</li>
<li>Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) stock increased 23.93% after HC Wainwright initiated coverage on the stock with a Buy rating and announced <a href="https://www.benzinga.com/quote/BEAM/analyst-ratings" target="_blank" rel="noreferrer noopener">an $80 price target</a>.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares rose 19.72%.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/24/07/40001614/universal-health-services-lockheed-martin-were-among-top-11-large-cap-stocks-that-shined-the-brighte" target="_blank" rel="noreferrer noopener">Universal Health Services &amp; Lockheed Martin Were Among Top 11 Large Cap Stocks That Shined The Brightest Last Week (July 21-July 27): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/40001668/ford-stellantis-and-dell-are-among-top-12-large-cap-losers-last-week-july-21-july-27-are-the-other" target="_blank" rel="noreferrer noopener">Ford, Stellantis And Dell Are Among Top 12 Large Cap Losers Last Week (July 21-July 27): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via AST SpaceMobile

Mid Cap

Movers

ASTS

BEAM

CLDX

GSHD

Hims & Hers Health, Inc. Class A Common Stock

HIMS

IOVA

PEGA

PTGX

VKTX

VSAT

ViaSat & AST SpaceMobile Are Among Top 6 Mid Cap Stocks That Shined The Brightest Last Week (July 21-July 27): Are The Others In Your Portfolio?

These twelve large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) shares plummeted 28.05%  after the company reported worse-than-expected Q2 sales results and issued Q3 guidance below estimates. The company also acquired JenaValve and Endotronix. Several analysts <a href="https://www.benzinga.com//node/39966446" target="_blank" rel="noreferrer noopener">slashed their price forecast</a>.</li>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) shares dived 19.12% <a href="https://www.benzinga.com//node/39943178" target="_blank" rel="noreferrer noopener">following a Q2 EPS miss</a>. Several analysts <a href="https://www.benzinga.com//node/39963727" target="_blank" rel="noreferrer noopener">lowered their price target</a>.</li>
<li>STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) shares declined 17.60% after the company reported a Q2 EPS miss <a href="https://www.benzinga.com//node/39955407" target="_blank" rel="noreferrer noopener">and issued soft Q3 guidance</a>.</li>
<li>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) stock decreased <a href="https://www.benzinga.com//node/39944365" target="_blank" rel="noreferrer noopener">16.25% following soft Q3 guidance</a>.</li>
<li>Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) stock fell 14.61% last week.</li>
<li>Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) stock lost 13.07% last week after the company reported worse-than-expected <a href="https://www.benzinga.com//node/39959183" target="_blank" rel="noreferrer noopener">first-half earnings</a>.</li>
<li>Vertiv Holdings, LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) stock fell 12.04% <a href="https://www.benzinga.com//node/39938457" target="_blank" rel="noreferrer noopener">following Q2 earnings</a>.</li>
<li>Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock declined 11.68% amid a broader selloff in semiconductor stocks.</li>
<li>West Pharmaceutical Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WST#NYSE">WST</a>) shares declined 11.37% after the company reported a <a href="https://www.benzinga.com//node/39952104" target="_blank" rel="noreferrer noopener">Q2 earnings miss and cut its guidance</a>.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares were down 11.26% amid a broader tech selloff.</li>
<li>United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) lost 10.96% value in the last week following Q2 earnings miss and <a href="https://www.benzinga.com//node/39903596" target="_blank" rel="noreferrer noopener">cutting annual outlook</a>.</li>
<li>LKQ Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) shares fell 10.89% after the company reported worse-than-expected Q2 earnings and <a href="https://www.benzinga.com//node/39961765" target="_blank" rel="noreferrer noopener">lowered its annual adjusted EPS outlook</a>.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/24/07/40001614/universal-health-services-lockheed-martin-were-among-top-11-large-cap-stocks-that-shined-the-brighte" target="_blank" rel="noreferrer noopener">Universal Health Services &amp; Lockheed Martin Were Among Top 11 Large Cap Stocks That Shined The Brightest Last Week (July 21-July 27): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

Large Cap

DELL

LULU

MBLY

MEDP

SMCI

STLA

Ford, Stellantis And Dell Are Among Top 12 Large Cap Losers Last Week (July 21-July 27): Are The Others In Your Portfolio?

Former White House Communications Director Anthony Scaramucci, a prominent figure in the finance world and now a vocal critic of his former boss Donald Trump, has nonetheless voiced his support for <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39020792/bitcoin-to-hit-1-million-in-next-10-to-18-months-says-crypto-analyst-were-still-so-early-i">Trump&#8217;s position</a> on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: On Sunday, Scaramucci took to X to express his approval of Republican policies that are aiding the crypto industry. Scaramucci also agreed with statements made by former President Trump regarding Bitcoin at the Bitcoin Conference in Nashville on Saturday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just to be clear: I am a bitcoiner and I applaud the policies decisions that the republicans are making to help the industry. I agree with every single thing that Pres Trump said related to bitcoin. Moreover, I praised him from the stage yesterday on forcing the issue and…
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1817366483036463470?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Scaramucci praised Trump for &#8220;forcing the issue and bringing bitcoin into the center.&#8221; He expressed his hope that Bitcoin will become a bipartisan issue.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39447328/anthony-scaramucci-says-crypto-will-soar-if-this-presidential-candidate-wins-the-election-">Anthony Scaramucci Says Crypto Will Soar If This Presidential Candidate Wins The Election: &#8216;I Think We&#8217;ll See All-Time Highs For Bitcoin And Other Assets&#8217;</a>
However, Scaramucci also noted that he is not a single-issue voter and acknowledged the potential risks associated with Trump&#8217;s approach.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39997974/anthony-scaramucci-tim-scott-weigh-in-ahead-of-ex-presidents-address-at-bitcoin-2024-confe">Earlier in an interview with CNBC,</a> Scaramucci discussed how a second Trump presidency could influence the prices of top cryptocurrencies. He praised Trump&#8217;s stance, saying, &#8220;I applaud President Trump for that.&#8221;
Scaramucci elaborated on the Democratic Party&#8217;s stance and said that Trump's outreach to cryptocurrency supporters has surprised his rivals. He said, &#8220;I think President Trump&#8217;s move to court Bitcoin and towards crypto assets has shaken the Democrats at core.&#8221;
Why It Matters: Scaramucci&#8217;s endorsement of the GOP&#8217;s Bitcoin policies and his praise for Trump&#8217;s stance on the issue underscore the growing acceptance of Bitcoin in political and financial circles.
His comments also highlight the potential for Bitcoin to become a significant issue in future political debates. 
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an" target="_blank" rel="noreferrer noopener">Ex-Trump Staffer Shares Texts To Prove That Ex-President's Campaign Settled To Keep Discrimination And Sexual Harassment Lawsuits Quiet</a></li>
</ul>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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

Cryptocurrency

Markets

$BTC

Scaramucci: 'I Agree With Every Single Thing' Trump Has Said On Bitcoin

Vice President Kamala Harris demonstrates a preference for <a href="https://www.benzinga.com/news/24/07/39999337/survey-reveals-how-americans-feel-about-a-potential-female-president-and-what-it-means-for-kamala-ha">passively managed index funds</a>, recent financial disclosure for 2023 reveals. 
What Happened: Harris&#8217; investment style, characterized by financial experts as &#8220;boring,&#8221; suggests a lack of financial conflicts. The disclosure comes at a time when Congress is debating restrictions on the types of investments elected leaders can own. 
According to a CNBC <a href="https://www.cnbc.com/2024/07/26/what-kamala-harris-financial-disclosure-reveals-about-her-investments.html">report</a>, a bill preventing members of Congress and their dependents from purchasing certain investments, such as individual stocks, was recently approved by a Senate panel.
&#8220;She&#8217;s definitely not attempting to trade on any inside type of information. For me, it was quite refreshing that it appears to be very passive,&#8221; Dustin Thackeray, a chartered financial analyst and chief investment officer at Crewe Advisors, told CNBC.
The disclosure also sheds light on Harris&#8217; financial situation. She has invested in eight different funds as part of two separate 457(b) deferred compensation plans from her time working in California, in addition to participating in certain defined benefit pension plans. 
Carolyn McClanahan, a certified financial planner who reviewed Harris&#8217; financial disclosure, said it makes her &#8220;heart sing&#8221; to see Harris choosing low-cost passive investment strategies.
"To me, she has the cleanest portfolio you'll see in a politician. She owns a bunch of index funds; there's no way &#8230; she can game the system," McClanahan told CNBC.
Harris&#8217; husband, Second Gentleman Douglas Emhoff, has more than 30 fund investments that are primarily passively managed.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
Financial experts suggest that the couple could streamline their portfolio by reducing the number of funds they own. The disclosure also reveals cash holdings that could total around $850,000 or more, depending on the exact balances based on the ranges given.
Harris also has a 2020 mortgage at a 2.625% rate for a personal residence valued between more than $1 million to $5 million. However, it is a 7-year adjustable-rate mortgage, which means that low rate won&#8217;t last.
Finally, Harris lists more than $8,000 in royalty income from the 2019 children&#8217;s picture book she wrote, &#8220;Superheroes are Everywhere,&#8221; as well as a smaller sum from her 2019 memoir, &#8220;The Truths We Hold.&#8221;
"The good thing about cash balances today is that they are actually making an investment return, where they hadn't for many, many years prior to higher rates," Thackeray added.
Why It Matters: Harris&#8217; financial disclosure provides a glimpse into the investment strategies of one of the nation&#8217;s top leaders and potential next president.
Her conservative approach to investment, favoring passively managed funds, aligns with the ongoing debates in Congress about the types of investments elected officials can own. 
This disclosure could potentially influence future legislation and set a precedent for other leaders in their investment decisions.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39999129/experts-weigh-in-on-harriss-fast-track-campaign-strategy-following-bidens-exit-i-think-shes-done-a-v">Experts Weigh In on Harris&#8217;s Fast-Track Campaign Strategy Following Biden&#8217;s Exit: &#8216;I Think She&#8217;s Done A Very Good Job&#8217;</a></li>
</ul>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

VP Kamala Harris' Financial Disclosure Reveals 'Boring' Investment Choices — Here's What The Leading Democratic Candidate Holds

These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares escalated 33.37% after the company announced <a href="https://www.benzinga.com//node/39880836" target="_blank" rel="noreferrer noopener">a private placement financing</a>.</li>
<li>Avantor Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) stock gained 21.62% in the last week after it was announced the stock will join the S&amp;P MidCap 400. Also, it reported better-than-expected Q2 earnings.</li>
<li>Universal Health Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>) stock jumped 17.73% after the company reported better-than-expected&nbsp;Q2&nbsp;earnings and <a href="https://www.benzinga.com//node/39942622" target="_blank" rel="noreferrer noopener">increased FY 2024&nbsp;guidance</a>.</li>
<li>Manhattan Associates Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) stock upped 17.02% after reporting better-than-expected Q2 financial results. Several analysts raised their <a href="https://www.benzinga.com/quote/MANH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Molina Healthcare Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) shares increased 15.53% following <a href="https://www.benzinga.com//node/39942485" target="_blank" rel="noreferrer noopener">better-than-expected&nbsp;Q2&nbsp;earnings</a>.</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) shares increased 15.15% after the company reported better-than-expected earnings.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) stock increased 13.02% after the company reported better-than-expected&nbsp;Q2&nbsp;financial results, and the company raised its FY24&nbsp;guidance&nbsp;above estimates and issued&nbsp;Q3&nbsp;guidance&nbsp;above estimates. Also, the company announced it a<a href="https://www.benzinga.com//node/39934114" target="_blank" rel="noreferrer noopener">uthorized a&nbsp;$1.5 billion&nbsp;share buyback</a>.</li>
<li>CBRE Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) shares gained 12.99% in the last week after the company raised its 2024 guidance. Several analysts raised their <a href="https://www.benzinga.com/quote/MANH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on </a><a href="https://www.benzinga.com/quote/CBRE/analyst-ratings" target="_blank" rel="noreferrer noopener">t</a><a href="https://www.benzinga.com/quote/MANH/analyst-ratings" target="_blank" rel="noreferrer noopener">he stock</a>.</li>
<li>Thermo Fisher Scientific Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) stock rose 12.63% in the last week. The company raised <a href="https://www.benzinga.com//node/39930516" target="_blank" rel="noreferrer noopener">its annual outlook</a>.</li>
<li>Danaher Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) stock gained 11.30% are trading higher after the company reported better-than-expected Q2 earnings.</li>
<li>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) stock grew 10.72% on positive analyst <a href="https://www.benzinga.com//node/39941283" target="_blank" rel="noreferrer noopener">ratings and strong Q2 results</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/24/07/40001668/ford-stellantis-and-dell-are-among-top-12-large-cap-losers-last-week-july-21-july-27-are-the-other">Ford, Stellantis And Dell Are Among Top 12 Large Cap Losers Last Week (July 21-July 27): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

AVTR

CBRE

ENPH

FCNCA

LPLA

MANH

SIRI

SPOT

Universal Health Services & Lockheed Martin Were Among Top 11 Large Cap Stocks That Shined The Brightest Last Week (July 21-July 27): Are The Others In Your Portfolio?

Republican presidential candidate <a href="https://www.benzinga.com/news/24/07/39999272/trump-slams-harris-for-pushing-left-wing-values-she-was-a-bum-three-weeks-ago-a-failed-vice-presiden">Donald Trump&#8217;s attack on Vice President Kamala Harris may come to haunt him, </a>said ex-White House Communications Director Anthony Scaramucci on Friday.
Harris&#8217; Task Cut Out: Trump can&#8217;t help himself and will continue to attack Harris, <a href="https://www.youtube.com/watch?v=GoMn6sCwreY">said</a> Scaramucci in the latest episode of the Rest In the U.S. Politics podcast. 
&#8220;Call her dumb, call her dumb as a rock, say she&#8217;s a DEI candidate, try to get those sexist comments in there like you did Hillary Clinton and you watch how the electorate responds, he said.
Scaramucci, the founder of investment firm SkyBridge Capital, noted that Harris once secured a $2 billion settlement for the California&#8217;s mortgage fraud victims. 
&#8220;If she emerges as the Kamala Harris that was written about in July of 2013, 11 years ago, Kamala Harris is about to shock the world in terms of what her skillset is and capability,&#8221; he said.
It remains to be seen which version of Harris Americans will get — &#8220;the movie star quality, great prosecutor on the way to the Senate&#8221; or the vice president who was a little sheltered, somewhat awkward, he added.
Regarding Trump&#8217;s reaction to the vice president, Scaramucci said the ex-president does not have a narrative in his head yet and he is still forming that narrative. 
&#8220;He&#8217;s right now in the verbal sparring gym and he&#8217;s trying to figure out what punches are actually gonna land on her. He doesn&#8217;t know what punches are going to land on her yet, neither does his team,&#8221; he said.
Harris needs to redefine herself beyond her vice presidential tenure, which will be challenging but achievable, the ex-White House aide said.
See Also: <a href="https://www.benzinga.com/news/24/07/39957078/trump-vs-harris-new-poll-shows-close-race-but-vice-president-could-benefit-from-dramatic-shifts-amon">Trump Vs. Harris: New Poll Shows Close Race, But Vice President Could Benefit From &#8216;Dramatic Shifts&#8217; Among These Key Voter Groups</a>
Advice To Trump&#8217;s Campaign: Scaramucci said Trump&#8217;s campaign team may be better off giving advice to him in private as doing it publicly makes him very insecure. 
&#8220;If I was advising President Trump, I would say wait. I would not even talk about her,&#8221; he said. Instead, Scaramucci would suggest that the former president talk about the economy.
&#8220;I would wait because once &#8220;Harris&#8221; starts landing her punches and once she starts framing her platform, it&#8217;s going to be easier for you to figure out where the weakness is,&#8221; Scaramucci said. 
Trump is making a mistake right now and is flailing a little bit with the way he is talking about Harris, he added.
The Republicans have been targeting the vice president, but she hasn&#8217;t yet solidified the foundational platform she will run on or what she represents, Scaramucci said.
Listing her vulnerabilities, Scaramucci said she is most at risk on business issues and fracking. If she continues to call for a national ban on fracking, she will have to bid farewell to Pennsylvania, a significant fracking state, he said.
Trump has more paths to the presidency than Harris, Scaramucci said, as he has Florida, which used to be a swing state, locked up. He can afford to lose some states and still win others. Meanwhile, Harris needs to win specific states and secure the blue wall of Wisconsin, Michigan, and Pennsylvania. If she maintains her anti-fracking stance, she won&#8217;t win Pennsylvania, Scaramucci added, suggesting that Harris should consider modifying that position.
Additionally, Scaramucci said <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938175/vice-president-harris-snubs-bitcoin-conference-would-have-been-a-disaster-for-her-shrugs-o">Harris&#8217; decision to bail out of the Bitcoin conference was a bad move.</a> 
&#8220;I don&#8217;t think she understands how many young people own digital assets,&#8221; he said.
Read Next:
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<li><a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a></li>
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Photo: Shutterstock

Media

Anthony Scaramucci Says Donald Trump's Verbal Sparring With Kamala Harris A Mistake, Adds Vice President Can 'Shock The World' In Terms Of Skillset And Capability

<a href="https://www.benzinga.com/personal-finance/24/05/38880642/2-million-is-nothing-suze-orman-warns-dont-retire-if-you-dont-have-at-least-5-million-or-10-mill">Suze Orman</a>, the podcast host and bestselling author known for offering advice to listeners on how best to handle their money and personal lives, recently responded to a reader who was unsure whether they're obligated to support their elderly mother, who has been quite reckless with her finances. The post "Must I Support My Irresponsible Mother?" was featured on Oprah.com.&nbsp;
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Despite working a minimum wage job and renting a modest apartment, the mother had depleted her $16,000 IRA savings. She remained secretive about her financial plans, including life insurance and a will. The reader, who has been <a href="https://www.benzinga.com/personal-finance/24/04/38140155/how-much-do-you-have-in-your-retirement-savings-man-asks-strangers-to-compare-account-balances-h">diligently saving for retirement</a>, resents the expectation to support their mother financially.
The reader writes: "I resent supporting someone who has been so careless with her money while I&#8217;ve been working for 28 years to put away a small pension. What should I do?"
Orman acknowledges the reader&#8217;s resentment but suggests that it may be misplaced. She emphasizes that the reader has chosen to prioritize their mother&#8217;s needs over their own, which ultimately does not benefit either one of them.&nbsp;
See Also: Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a>
She introduced the concept of &#8220;harmony,&#8221; where one&#8217;s actions align with their inner feelings, and encourages the reader to communicate their true feelings to their mother via a letter. In this letter, the reader should clarify that they are willing to offer emotional support rather than financial assistance. She suggests that this approach may help the mother understand the impact of her actions and encourage her to take control of her financial situation.
To help with the mother's financial struggles, Orman recommends seeking help from the National Foundation for Credit Counseling (NFCC). This organization provides free or low-cost services to help individuals manage their finances and can offer valuable guidance to the mother.
Orman stresses the importance of the reader taking care of themselves. She warns that the mother might not change her ways, so she urges the reader to be prepared. Orman explains, &#8220;Please don&#8217;t waver; it&#8217;s critical that you take care of yourself. Withholding generosity isn&#8217;t going to be easy, but it&#8217;s the right thing to do.&#8221;
See Also: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
Although you may commonly hear about parents supporting their adult children, it goes both ways.&nbsp;
A 2022 study by the <a href="https://www.pewresearch.org/social-trends/2022/03/24/the-demographics-of-multigenerational-households/">Pew Research Center</a> found that 12% of parents with adult children reported living in the same household as one of their adult children. This arrangement was more common among parents aged 65 and older (19%) than younger parents (9%).
According to the <a href="https://www.census.gov/newsroom/press-releases/2020/estimates-families-living-arrangements.html">U.S. Census Bureau</a>, about 3.5 million parents lived in their adult children&#8217;s homes in 2020, a number that has steadily increased over the past decade.
The 2023 New York Life survey indicates a significant generational shift in caregiving roles. Millennials now represent 66% of self-reported caregivers, up from 39% in 2020, while Gen Xers have decreased to 23% from 40%. This change reflects a broader trend where the Sandwich Generation, caring for children and aging relatives, is increasingly comprised of younger caregivers.
As caregiving responsibilities shift to younger generations, parents and adult children may want to discuss long-term financial strategies openly. Whether to fund retirement or help a parent in need is often an unfair choice for any child.&nbsp;
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<li>How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a></li>
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'Do I Have To Support My Financially Irresponsible 75-Year-Old Mother?' – Suze Orman's Take On Prioritizing Retirement Vs. Parental Aid

A surprising number of renters could afford to buy a home, according to a new Zillow Analysis.
Despite 39% of U.S. families <a href="https://www.benzinga.com/real-estate/24/03/37916234/renting-reigns-as-mortgage-rates-soar-but-homeownership-still-holds-the-crown">renting</a> in 2022, nearly 8 million qualified as "income mortgage-ready." This means they could likely handle a mortgage payment for a typical home in their area without exceeding 30% of their income.
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<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
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While some people prefer renting, Zillow economist Orphe Divounguy suggests that many potential homeowners may simply be unaware of their financial ability to purchase a home.
"If your lease is about to end, it might be wise to determine whether you're in a position to <a href="https://www.benzinga.com/real-estate/24/05/38818007/dave-ramsey-says-renting-is-a-smart-financial-move-to-avoid-becoming-house-poor">buy a house</a>," Melissa Cohn, regional vice president at William Raveis Mortgage, told CNBC.
To understand your homebuying potential, Cohn recommends starting with a lender&#8217;s verbal prequalification. This initial step can determine whether gathering the necessary paperwork is worthwhile.
Before that conversation, it's crucial to clearly understand your financial picture. This includes knowing your annual income, debt levels, credit score, and debt-to-income ratio.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
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According to Brian Nevins, a sales manager at Bay Equity, understanding your purchasing power is crucial to determining your homebuying readiness. Many potential homebuyers are unsure about their credit situation or hesitate to check it for fear of negative impacts. However, experts recommend monitoring your credit for several months before house hunting to identify any areas for improvement.
"That's changed a lot in our industry, where we do soft credit verifications upfront now, and where it's going to have no impact on somebody's credit score," Nevins said. "There's really no harm in checking."
Your credit score determines whether you qualify for a mortgage and the interest rate you'll pay. A higher credit score typically means a lower interest rate.
Building credit is important, but so is managing your debt. A high debt-to-income ratio, influenced by factors like student loans or credit card balances, can hinder your mortgage approval chances.
See Also: Gen Z and Millennial millionaires couldn't care less for stocks and bonds —<a href="https://www.benzinga.com/money/gen-z-and-millennial-millionaires-investments-adv"> Here's what they're buying instead.</a>
A high debt-to-income ratio is the primary reason mortgage applications are denied, according to Divounguy. Lenders use the ratio to assess whether you can handle an additional mortgage payment on top of your current debts.
To create a realistic homebuying budget, you must understand your debt-to-income ratio.
"Your debt-to-income ratio is simply the percentage of your monthly income dedicated to debt payments, including car loans, student loans, credit card minimums and your estimated mortgage payment," Nevins said.
Your ability to afford a home depends on several factors beyond your credit and debt. Your area&#8217;s median home price, down payment, property taxes, homeowners insurance, and potential HOA fees all play a role. Consulting with a mortgage professional can provide valuable insights into fully understanding your financial picture and homebuying potential.
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<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
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Real Estate

Zillow Found That 8 Million Renters Would've Spent 30% Less Of their Total Income On Mortgage Payments If They Knew They Were 'Mortgage-Ready'

<a href="https://www.benzinga.com/topic/snoop-dogg">Snoop Dogg</a>&nbsp;didn't hold back his excitement and unwavering support for&nbsp;Team USA&nbsp;as the men's swimmers took the first gold medal at the <a href="https://drupal-cloudfront.benzinga.com/topic/2024-summer-olympics?_gl=1&#x2A;zw27ht&#x2A;_gcl_au&#x2A;NTUzMDcwNTg1LjE3MjEwMDQ4OTM.&#x2A;_ga&#x2A;MTkwMzMyNTYzNy4xNzEzMjI4Nzcw&#x2A;_ga_V7ZK73W7N0&#x2A;MTcyMjA4MzQ3Ni41NzguMS4xNzIyMDg2MTA0LjAuMC4w">2024 Paris&nbsp;Olympics</a>.
Snoop, who is <a href="https://www.benzinga.com/markets/cannabis/24/01/36502082/snoop-dogg-elevates-olympic-spirit-as-nbcs-paris-2024-correspondent-will-he-smoke-the-competitio">covering the Olympics</a> for Comcast Corp-owned (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal along with NBC host Mike Tirico, vowed that his primetime coverage would include a "unique take on what's <a href="https://www.benzinga.com/markets/cannabis/23/10/35303343/frances-medical-marijuana-trial-benefiting-over-2-5k-patients-will-continue-more-euro-cannabis-u">happening in Paris."</a>
<h2 class="wp-block-heading">Snoop Did Not Disappoint</h2>
Chosen to serve as one of the torchbearers ahead of Friday's opening ceremony, Snoop stole the show when he danced with the Olympic torch in hand.&nbsp;
Images shared by the Olympic&#8217;s official social media account showed clips of Snoop fulfilling his vow on the streets of Paris. Here, he&#8217;s seen busting a few moves, with the Olympic torch in hand, as onlookers cheer him on.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The crossover we didn't know we needed &#x1f929; &#8211; C&#39;est donc ça le multiverse &#x1f929; Suivez l'étape du jour en direct sur <a href="https://twitter.com/FranceTV?ref_src=twsrc%5Etfw">@FranceTV</a> : <a href="https://t.co/TWcSUAw0vu">https://t.co/TWcSUAw0vu</a><a href="https://twitter.com/hashtag/Paris2024?src=hash&amp;ref_src=twsrc%5Etfw">#Paris2024</a> <a href="https://twitter.com/Olympics?ref_src=twsrc%5Etfw">@Olympics</a> <a href="https://twitter.com/SnoopDogg?ref_src=twsrc%5Etfw">@SnoopDogg</a> <a href="https://twitter.com/NBCOlympics?ref_src=twsrc%5Etfw">@NBCOlympics</a> <a href="https://twitter.com/TeamUSA?ref_src=twsrc%5Etfw">@TeamUSA</a> &#x1f4f8; Paris 2024 <a href="https://t.co/E3Bf5pIuCi">pic.twitter.com/E3Bf5pIuCi</a>
&mdash; Paris 2024 (@Paris2024) <a href="https://twitter.com/Paris2024/status/1816794486661349529?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Snoop&#8217;s appearance at games, judging from the videos and response on the street — one comment said "I can&#8217;t love this enough&#8221; — has provided more joy and optimism "than anyone could have possibly imagined," <a href="https://parade.com/news/snoop-dogg-whole-vibe-dancing-2024-olympics-torch-video">wrote</a> Parade.
<h2 class="wp-block-heading">Snoop Cheers On US Swimmers Who Take First Gold</h2>
On Saturday, the U.S. won its first gold medal after a strong showing in the 4&#215;100 meter freestyle relay. The team, made up of Jack Alexy, Chris Guiliano, Hunter Armstrong, and Caeleb Dressel handily took the gold with a time of 3:09:28, finishing 1.07 seconds ahead of Australia which took silver. Italy won bronze.
Snoop was in the stands cheering wildly with Meghan Dressel, wife of Caeleb Dressel who anchored team USA. During the broadcast, NBC panned to Snoop Dogg screaming and throwing his fist in the air.
&#8220;One, two, three, gold, gold, gold,&#8221; Snoop yelled before high-fiving Dressel&#8217;s wife, as she held her five-month-old son August. Thankfully, the sleeping baby had sound-cancelling headphones snuggly covering his little ears.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Snoop Dogg watching Team USA win its first Gold Medal in Paris in swimming. Now, that's joy. <a href="https://t.co/sOmoKhzzNX">pic.twitter.com/sOmoKhzzNX</a>
&mdash; Ben Stevens (@BenScottStevens) <a href="https://twitter.com/BenScottStevens/status/1817289396510732385?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Photo: Shutterstock</figcaption></figure>

Entertainment

Sports

CMCSA

Snoop Dogg Steals The Show At Paris Olympics: Dances With Torch, Cheers On US Swimmers Who Take First Gold Medal

This article was originally published on <a href="https://cannabis.net/blog/medical/are-psychedelic-dispensaries-the-next-big-business-boom">Cannabis.net </a>and appears here with permission.
We&rsquo;re right smack in the middle of a&nbsp;<a href="https://cannabis.net/blog/opinion/im-good-with-weed-so-why-should-i-try-psychedelics">psychedelic revolution</a>, and there is serious interest in psychedelics most especially for its ability to treat several major conditions that are resistant to conventional medications. The interest is only growing, and so is the list of conditions that psychedelics may be able to treat. 
But we can&rsquo;t deny that we need to have more conversations and studies about psychedelics. We also need to discuss how it&rsquo;s going to be regulated in a retail market, especially one where&nbsp;<a href="https://cannabis.net/blog/personal-story/cannabis-and-psychedelics">cannabis</a>&nbsp;is already legal and the marketplace is thriving.&nbsp;
<h3>Which Psychedelics Can You Buy These Days?</h3>
<a href="https://cannabis.net/blog/opinion/things-you-should-know-before-trying-magic-mushrooms-for-the-first-time">Magic mushrooms</a>&nbsp;or psilocybin mushrooms, the most popular and accessible of all psychedelics, are already quite accessible in much of North America. Psilocybin mushrooms can be purchased raw or dried. They are also widely consumed in processed form: made into chocolates, capsules, and tea.&nbsp;
Other common psychedelics include LSD or acid, ketamine, MDMA, and peyote. Some are more challenging to access than others. That said, how do we decide who gets to sell them and where? Several cannabis dispensaries and head shops are also selling psychedelics though we have to keep in mind that the legalization and laws differ for these two classes of drugs. They can also easily be purchased online or in the black market.
The ideal scenario would be to have specialized psychedelic medicine dispensaries where individuals can obtain their hallucinogenic medication of choice. Consumers and patients will also need to have doctors on board who can get them prescriptions in the first place. And before that&hellip;
Following In The Footsteps Of Cannabis&hellip;.
Much like how cannabis legalization spread throughout North America, resulting in the growth of thousands of dispensaries and massive weed businesses and conglomerates alongside it, a few things need to happen first.
Of course, psychedelics must be decriminalized and legalized. There have already been some cities/counties and states that have paved the way for decriminalizing psychedelics.&nbsp;<a href="https://cannabis.net/blog/opinion/here-come-the-psychedelics-denver-decriminalizes-magic-mushrooms">Denver</a>&nbsp;became the very first city in the United States to do so back in 2019, followed by Colorado. Meanwhile, Oregon made strides as the first state to ever legalize psilocybin in 2020. Given the&nbsp;<a href="https://cannabis.net/blog/opinion/psychedelic-acceptance-increasing-among-college-age-adults-says-new-survey">popularity</a>&nbsp;of these substances today, we&rsquo;ll likely see an even greater demand to legalize these drugs in the near future &ndash; which will be critical for spreading public acceptance and thus,&nbsp;<a href="https://cannabis.net/find/dispensary">dispensary</a>&nbsp;establishment.
While we already do have several solid studies from investigators in the United States as well as in other parts of the globe,&nbsp; we still need much more ongoing research especially on the impact of psychedelics on depression, anxiety, PTSD, and other mental health conditions. Additionally, we need a better understanding of psychedelics and what it can do for our physical health too. And just like cannabis, the subject of dosage will require a more thorough understanding and significantly more research.
<h3>The Role Of Government And Public Policy</h3>
As of late, most policy reforms have been too focused on expanding legal access as well as research. However, we also need to work on very specific policy changes so that we can mitigate negative events such as backlash in case the market is exposed to several major negative occurrences related to psychedelics.
That&rsquo;s why we must also have guidance and support from the business community so that the economy will benefit from the legalization of psychedelics as well as the growth of dispensaries.
According to RAND, a major think tank that has been influential in the field of government policy, it will be critical to have the support of the federal government. RAND published a report last year entitled,<a href="https://www.rand.org/pubs/research_reports/RRA2825-1.html">&nbsp;How To Regulate Psychedelics</a>, and it&rsquo;s one of the first and biggest research papers ever written to delve deeper into how a retail psychedelic market would look like.
&ldquo;The federal government currently has multiple options when it comes to the supply of psychedelics, but it does not have unlimited time,&rdquo; says the report. &ldquo;Now is the time for US federal policymakers to decide whether they want psilocybin and other psychedelic substances to follow in the footsteps of the for-profit cannabis model,&rdquo; the report reads. 
The report also points out that people consume psychedelics and cannabis in different ways. For this reason, we shouldn&rsquo;t be comparing the decriminalization of cannabis to that of psychedelics. One of the ways the two differ in consumption is that people don&rsquo;t consume psychedelics nearly as often as cannabis; whereas many people can smoke weed daily, consumers are infrequent at best when it comes to psychedelics.
&ldquo;A major takeaway from our analyses is the extent to which infrequent users drive the market for psychedelics,&rdquo; wrote the authors. &ldquo;For cannabis, it is negligible: Those who reported using five or fewer days in the past month account for about 5 percent of the total use days in the past month. For psychedelics, that figure is closer to 60 percent.&rdquo;
<h3>Conclusion</h3>
We can only hope that government officials aren&rsquo;t going to put out the fires of psychedelics. It&rsquo;s an extremely exciting field medically and scientifically because the world needs new options for treating&nbsp;<a href="https://cannabis.net/blog/medical/can-psychedelics-help-alcoholics-quit-booze-new-studies-just-released-on-psilocybin-and-alcohol">different diseases which psychedelics</a>&nbsp;have been shown to be successful in treating.
We should also remember that psychedelics is not a one-size-fits-all solution; while they do work very well for some people, some have had little benefit. This is why it&rsquo;s important to reinstate the importance of clinical trials that require several rounds of treatment. That, along with new laws that will help regulate psychedelics while improving access and decreasing costs, are all sorely needed by the general public right now.
At the very least, even if psychedelics and cannabis are extremely different, we can at least start by regulating psychedelics the way we do cannabis. Baby steps &ndash; but we&rsquo;re getting there.
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.
Photo: Unsplash

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