Latest news for Core Nickel (OTC:CNCOF) Stock

Core Nickel Corp is engaged in developing the Nickel Properties, It operates five nickel properties: Halfway Lake, Resting Lake, Hunter, Odei River, and Mel properties all in the Thompson nickel belt of northern Manitoba.

Core Nickel Corp

A Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) vehicle, operating on the company&#8217;s &#8220;Full Self Driving&#8221; system, was implicated in a fatal accident near Seattle in April, leading to the death of a motorcyclist.
What Happened: The fatal accident was discovered by investigators from the Washington State Patrol after examining the event-data recorder on the 2022 Tesla Model S, as stated by agency spokesman Capt. Deion Glover. The investigation is still ongoing, with the Snohomish County Prosecutor to decide on any potential charges, AP News <a href="https://apnews.com/article/tesla-full-self-driving-motorcyclist-killed-d3393396521c373fe5df5a44d2d9637f?utm_campaign=TrueAnthem&amp;utm_medium=AP&amp;utm_source=Twitter">reported</a> on Wednesday.
The driver, a 56-year-old man, confessed to using Tesla&#8217;s Autopilot system and being distracted by his cellphone while the car was in motion. He was subsequently arrested for investigation of vehicular homicide. The victim, Jeffrey Nissen, 28, of Stanwood, Washington, was declared dead at the scene. This incident marks the second death in the U.S. involving Tesla&#8217;s &#8220;Full Self-Driving&#8221; system.
Tesla has yet to respond to Benzinga&#8217;s queries.
See Also: <a href="https://www.benzinga.com/news/24/07/40034205/transportation-secretary-pete-buttigieg-says-china-understands-strategic-value-of-dominating-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Transportation Secretary Pete Buttigieg Says China Understands &#8216;Strategic Value&#8217; Of Dominating Market, Terms Ideological Differences On EVs &#8216;Frustrating:&#8217; &#8216;There Should Be Nothing Ideological About That…&#8217;</a>
Why It Matters: Tesla CEO Elon Musk recently made a statement that the &#8220;Full Self Driving&#8221; system should be capable of operating without human supervision by the end of this year. However, Tesla maintains that neither its &#8220;Full Self-Driving&#8221; nor its Autopilot system can drive itself and that human drivers must be prepared to take control at any time.
This incident comes in the wake of a report questioning Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40023293/tesla-fsd-stunningly-good-but-not-useful-today-analyst-questions-self-driving-effor">autonomous driving capabilities</a> after a near-crash experience. Despite the concerns, Musk remains confident that government approval will not hinder the deployment of robotaxis, stating that if billions of miles of data show that unsupervised FSD is safer than humans, no regulator could stand in the way.
Earlier this year, Tesla released a <a href="https://www.benzinga.com/news/24/05/38979185/tesla-breaks-silence-on-vehicle-safety-data-after-a-year-autopilot-boasts-lower-accident-risk-vs-man">vehicle safety data report</a>, indicating a significantly lower crash rate for vehicles using Autopilot compared to those driven manually. However, the recent fatal accident raises questions about the safety of Tesla&#8217;s self-driving technology.
Price Action: Tesla was trading 1.02% higher at $224.90 at the time of writing during Wednesday&#8217;s pre-market, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40028740/tesla-ceo-elon-musk-turns-down-possibility-of-model-s-plaid-plus-variant-upcoming-roadster-set-to-fi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Turns Down Possibility Of Model S Plaid Plus Variant, Upcoming Roadster Set To Fill That Gap Instead</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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

News

Tech

General

TSLA

Tesla's FSD System Under Scrutiny After Fatal Motorcycle Accident Near Seattle

GigaMedia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIGM#NASDAQ">GIGM</a>) reported quarterly losses of $(0.06) per share. This is a 20 percent decrease over losses of $(0.05) per share from the same period last year. The company reported $721.00 thousand in sales this quarter. This is a 29.66 percent decrease over sales of $1.02 million the same period last year.

Earnings

GIGM

GigaMedia Q2 EPS $(0.06) Down From $(0.05) YoY, Sales $721.00K Down From $1.02M YoY

Keefe, Bruyette &amp; Woods analyst Aidan Hall reiterates Houlihan Lokey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLI#NYSE">HLI</a>) with a Market Perform and raises the price target from $139 to $154.

Price Target

Reiteration

Analyst Ratings

Keefe, Bruyette & Woods Reiterates Market Perform on Houlihan Lokey, Raises Price Target to $154

Thousands of Customers Depend on The Combined Power of Box and Slack to Securely Collaborate With Their Content
Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>), the leading Intelligent Content Cloud, and AI-powered work operating system, Slack, a Salesforce company, (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) today announced an expanded partnership that brings secure AI to enterprise content to transform the way organizations work. Available today, joint customers can now access <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.boxinvestorrelations.com%2Fnews-and-media%2Fnews%2Fpress-release-details%2F2024%2FBox-Announces-Powerful-Enhancements-to-Box-AI-for-Intelligent-Content-Management%2Fdefault.aspx&amp;esheet=54102197&amp;newsitemid=20240731610629&amp;lan=en-US&amp;anchor=unlimited&amp;index=1&amp;md5=f8f502c5615d7358984d20a35c1fef9b">unlimited</a> Box AI queries directly in Slack, allowing users to ask critical questions and uncover timely insights from Box files in the same place they're already working. The companies also announced several joint enhancements to the integration, including dynamic and secure file previews of Box files in Slack, improved workflow automation across the two platforms, and more.

Box And Slack, A Salesforce Company, Expand Partnership With The Launch Of Box AI In Slack

Jefferies analyst David Kelley maintains CCC Intelligent Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCCS#NASDAQ">CCCS</a>) with a Buy and lowers the price target from $14 to $13.

CCCS

Jefferies Maintains Buy on CCC Intelligent Solutions, Lowers Price Target to $13

PARA

PARAA

Apex Capital Trust Submits Competing $43B All-Cash Offer For Paramount Global; Proposes To Purchase 100% Of NAI's Capital Stock And Assumes $15.8B In Debt; Offer Sent To National Amusements And Investment Firm To Facilitate "Go-Shop" Provision Against Skydance Deal

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said he likes Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>). &#8220;They have a lot of great companies in house that are going to do <a href="https://www.benzinga.com/news/earnings/24/07/39839457/blackstone-q2-earnings-miss-stock-dips-as-costs-rise">very well,&#8221; he added</a>.
On July 18, Blackstone reported second-quarter fiscal year 2024 adjusted revenues of $2.796 billion, beating the consensus of $2.619 billion.
When asked about Borr Drilling Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BORR#NYSE">BORR</a>), Cramer said he always goes with the best, which is Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>).
On May 23, Borr Drilling reported better-than-expected first-quarter sales results and raised its dividend.
Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) is the kind of stock that should be bought right here, right now ahead of the Federal Reserve's rate cut cycle. &#8220;I would pick some up tomorrow,&#8221; he added.
On May 31, the company declared a quarterly cash dividend of $1.15 per share, payable Aug. 7 to shareholders of record as of July 24.
&#8220;I was mystified and surprised at that conference call, which was absolutely terrible, Cramer said about DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>). &#8220;I think Abbott (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is a better play.&#8221;
On July 25, DexCom reported worse-than-expected second-quarter revenue results and issued weak revenue guidance.
When asked about Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), he said, &#8220;They're two different things. Marvell the stock is probably being hurt, but Marvell the company, Matt Murphy [Chairman and CEO at Marvell] is doing a terrific job. I actually would own the stock.&#8221;
On July 30, the company introduced its Structera line of Compute Express Link (CXL) devices, designed to address memory performance and scaling challenges in general-purpose servers for cloud data centers.
The &#8220;Mad Money&#8221; host recommended selling Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>).
Joby Aviation will release its second quarter financial results after the closing bell on Wednesday, Aug. 7.
When asked about Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>), he said, &#8220;You want to swap over to Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>).&#8221;
On July 24, Edwards Lifesciences reported worse-than-expected second-quarter sales results and issued third-quarter guidance below estimates. Also, the company acquired JenaValve and Endotronix.
Price Action:
<ul>
<li>Borr Drilling shares rose 2.3% to settle at $6.60 on Tuesday.</li>
<li>Marvell shares fell 2.6% to close at $62.80 on Tuesday.</li>
<li>Joby Aviation shares fell 1.9% to close at $6.09.</li>
<li>Blackstone shares rose 0.3% to settle at $141.34.</li>
<li>Dexcom rose 3.3% to close at $69.70 during Tuesday's session.</li>
<li>Edwards Lifesciences shares fell 0.2% to settle at $63.64 on Tuesday.</li>
<li>Lowe&#8217;s gained 0.7% to close at $241.40 on Tuesday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40059087/nasdaq-tumbles-amid-decline-in-tech-stocks-greed-index-moves-to-fear-zone">Nasdaq Tumbles As Microsoft, Nvidia And Other Tech Stocks Decline: Greed Index Moves To &#8216;Fear&#8217; Zone</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Markets

Trading Ideas

BORR

DXCM

JOBY

MRVL

Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: 'I Would Pick Some Up Tomorrow'

<ul>
<li>Alcyone's ThecaFlex is an implantable medical device under investigation for routine subcutaneous administration of therapeutics to the cerebrospinal fluid (CSF).</li>
<li>The first stage of the pivotal IDE PIERRE trial has been completed.</li>
<li>10 spinal muscular atrophy (SMA) patients have undergone ThecaFlex implantation and have received nusinersen through the device.</li>
<li>No device-related adverse events, including infections, were observed in the 30 days after implantation.</li>
<li>FDA has agreed to an additional 80-SMA patient, 30-center, enrollment after review of the clinical data by Data Monitoring Safety Committee of first 10 SMA patients implanted.</li>
</ul>
LOWELL, Mass., July 31, 2024 /PRNewswire/ --&nbsp;Alcyone Therapeutics Inc. (Alcyone), a clinical-stage biotechnology company pioneering next-generation precision genetic therapies and precision delivery solutions of therapies for complex neurological conditions, announced today that the U.S. Food and Drug Administration (FDA) has provided approval to continue enrollment of the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4223192-1&amp;h=352701505&amp;u=https%3A%2F%2Fclinicaltrials.gov%2Fct2%2Fshow%2FNCT05866419&amp;a=PIERRE+study">PIERRE study</a>&nbsp;(<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4223192-1&amp;h=1771403035&amp;u=https%3A%2F%2Fclinicaltrials.gov%2Fct2%2Fshow%2FNCT05866419&amp;a=https%3A%2F%2Fclinicaltrials.gov%2Fct2%2Fshow%2FNCT05866419">https://clinicaltrials.gov/ct2/show/NCT05866419</a>) to evaluate the safety and effectiveness of the ThecaFlex DRx&#x2122;&nbsp;subcutaneous port and intrathecal catheter system for chronic intrathecal access, CSF aspiration, and delivery of SPINRAZA&#xAE; (nusinersen) in SMA patients as an alternative to repeat lumbar puncture (LP).

BIIB

IONS

Alcyone Therapeutics Announces Continued Enrollment Approval From FDA Of The PIERRE Pivotal IDE Clinical Study Of The ThecaFlex DRx System For Administration Of Nusinersen

Keefe, Bruyette &amp; Woods analyst Ryan Krueger reiterates Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) with a Outperform and raises the price target from $110 to $118.

Keefe, Bruyette & Woods Reiterates Outperform on Globe Life, Raises Price Target to $118

Company engages Prospect Hotel Advisors for their specialized expertise
LAS VEGAS, July 31, 2024 /PRNewswire/ --&nbsp;Allegiant Travel Company ((<a href="https://c212.net/c/link/?t=0&amp;,%20l=en&amp;,%20o=4223126-1&amp;,%20h=2370561295&amp;,%20u=http%3A%2F%2Fir.allegiantair.com%2F&amp;,%20NASDAQ:%3Ca%20class=">ALGT</a>) announced today it has retained global hospitality asset management firm Prospect Hotel Advisors, LLC to conduct a strategic review of its hotel, Sunseeker Resort Charlotte Harbor.
The recently opened resort, located in Southwest Florida, is a wholly owned subsidiary of Allegiant Travel Company and is Florida's premier gulf coast oasis, offering magnificent views, amazing pools, world class restaurants, championship golf, a full-service spa and many other amenities.
Prospect Hotel Advisors will advise the company on strategies that maximize the value of Sunseeker Resort. The engagement aims to improve financial performance and help accelerate the strategic positioning of the hotel in conjunction with the existing experienced management team.

ALGT

Allegiant To Conduct A Strategic Review Of Its Hotel, Sunseeker Resort Charlotte Harbor

<a href="https://www.theinformation.com/articles/tiktok-spending-drove-microsofts-booming-ai-business" title="https://www.theinformation.com/articles/tiktok-spending-drove-microsofts-booming-ai-business">https://www.theinformation.com/articles/tiktok-spending-drove-microsofts-booming-ai-business</a>

MSFT

'TikTok Spending Drove Microsoft's Booming AI Business' - The Information

WIIM

FULC

Fulcum Therapeutics shares are trading higher after the company reported a year-over-year increase in Q2 EPS results.

Haggen Food &amp; Pharmacy now available for same-day delivery from Instacart
SAN FRANCISCO and BOISE, Idaho, July 31, 2024 /PRNewswire/ -- Instacart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>), the leading grocery technology company in North America, and Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) today announce the launch of Instacart pickup services and Albertsons Rapid convenience delivery nationwide at banners&#x2A; including Safeway, Albertsons, Shaw's, ACME, Jewel-Osco, Randalls and Vons. Additionally, Haggen Food &amp; Pharmacy is now available on the Instacart App for same-day delivery. This program expansion provides Instacart customers with greater access to groceries and household essentials alongside the quality and fresh assortment they expect from Albertsons Cos. banner stores.

CART

Instacart And Albertsons Companies Expand Partnership Nationwide Launching Pickup Services And Convenience Delivery

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains Bank of Marin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRC#NASDAQ">BMRC</a>) with a Outperform and raises the price target from $21 to $23.

BMRC

Keefe, Bruyette & Woods Maintains Outperform on Bank of Marin, Raises Price Target to $23

Key takeaways from the 2024 Second Quarter Trends Report include:
Live-streaming viewership is up 10% from Q2 2023 to 8.5 billion hours watched, indicating a resurgence in the industry since the post-pandemic dip.
Twitch's dominance of the live streaming market seems to be declining - in Q2 2023, it held 70% of the market share of hours watched. In Q2 2024, that share has dropped to just 60%.
The top creators are losing their stranglehold on the market, with the top 5% of streamers by hours watched dropping from 98% of the total market share in Q2 2019 to just 86% in Q2 2024, indicating a more diverse market for smaller streamers.
For more information on Stream Hatchet and insight into the esports and streaming markets, please visit their website at <a href="https://pr.report/zk7">www.streamhatchet.com</a>.

GAME

GameSquare Q2 Highlights Include Live-streaming Viewership Is Up 10% From Q2 2023; Twitch's Dominance Of The Live Streaming Market Seems To Be Declining - In Q2 2023, It Held 70% Of The Market Share Of Hours Watched. In Q2 2024, That Share Has Dropped To Just 60%.

Reverse Stock-Split to be effective on August 2, 2024
VANCOUVER, BC, July 31, 2024 /PRNewswire/ -- Siyata Mobile Inc.&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4222468-1&amp;h=4280091857&amp;u=https%3A%2F%2Fwww.nasdaq.com%2Fmarket-activity%2Fstocks%2Fsyta&amp;a=(Nasdaq%3A+SYTA%2C+SYTAW)">(NASDAQ:</a><a href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>, SYTAW))) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced that it will effect a 1-for-18 reverse stock split ("Reverse Stock Split") of its common share, no par value per share ("Common Share"). The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on Friday, August 2, 2024, and the Company's Common Share will commence trading on the Nasdaq Capital Market on a post-split basis at the opening of the market on August 2, 2024. The Company's Common Share will continue to trade on the Nasdaq Capital Market under the Company's existing trading symbol, "SYTA," and a new CUSIP number 83013Q 806 has been assigned as a result of the Reverse Stock Split.

Stock Split

SYTA

Siyata Announces 1-For-18 Reverse Stock Split,  To Be Effective On August 2, 2024

Altria Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) shares are trading lower after the company reported a 3% year-on-year decline in second-quarter FY24 revenues net of excise taxes to $5.28 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40063549/altria-reports-2024-second-quarter-and-first-half-results-narrows-2024-full-year-earnings-guidance" rel="noreferrer noopener">missing the analyst consensus estimate of $5.39 billion.</a>
The revenue decrease was primarily driven by lower net revenues in the smokeable products segment, partially offset by higher net revenues in the oral tobacco products segment.
Revenue for smokeable products decreased by 5.6%, and oral tobacco products grew by 4.6%.
Smokeable products segment reported domestic cigarette shipment volume decrease of 13%, with Marlboro down 11.8%.
Gross profit fell 2.2% Y/Y to $3.675 billion. The operating income for the quarter decreased by 12.8% to $2.5 billion.
Adjusted EPS of $1.31 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the analyst consensus of $1.34</a>.
Altria paid dividends of $1.7 billion and $3.4 billion in the second quarter and first half, respectively.
As of June-end, Altria had $990 million remaining under the currently authorized $3.4 billion share repurchase program, which it expects to complete by December-end.
Altria held $1.79 billion in cash and equivalents as of June-end. Total debt of Altria amounted to $25.02 billion.
&#8220;In the second quarter, our companies&#8217; innovative smoke-free products delivered strong share and volume performance, and we hit meaningful milestones that we believe set us up for future success. NJOY received the first and only marketing granted orders from the FDA for menthol e-vapor products, and we submitted PMTA applications to the FDA for next generation NJOY and on! products,&#8221; said CEO Billy Gifford.
Outlook: Altria narrowed FY24 adjusted EPS guidance from $5.05 &#8211; $5.17 to $5.07 &#8211; $5.15 versus an estimate of $5.10.&nbsp;
This range represents an adjusted EPS growth rate of&nbsp;2.5%&nbsp;to&nbsp;4.0%&nbsp;from a base of&nbsp;$4.95&nbsp;in 2023.
Price Action: MO shares are trading lower by 4.69% at $48.18 in premarket at the last check Wednesday.
Image by svklimkin from Pixabay

Equities

Guidance

Movers

Altria Faces Q2 Setbacks: EPS Miss, Cigarette Sales Plunge, But Smoke-Free Innovations Shine

Enhances Shopping Experience With Comprehensive Logistics Solutions Under American Bear Logistics Brand

Lakeside Holding Limited Announces Agreement With Leading Asia-Based E-Commerce Platform To Provide Seamless Cross-Border Fulfillment Services

Will cannabis legalization ever be possible in Venezuela? Amid its recent controversial presidential elections, this question invites us to consider the potential benefits of such a change.&nbsp;
With rising concerns about electoral fraud and ongoing economic turmoil under President Nicolás Maduro&#8217;s administration, Vice President Kamala Harris <a href="https://www.benzinga.com/news/24/07/40002632/kamala-harris-the-will-of-the-venezuelan-people-must-be-respected-as-socialist-nicol-s-maduro-faces">emphasized that the United States &#8220;stands with&#8221; the Venezuelan people</a>, advocating for the respect of their electoral will. These developments serve as testament that Venezuela remains a critical player in global geopolitics due to having the world's largest crude oil reserves as of 2023 with approximately 303 billion barrels.
While Venezuela does not seem to be anywhere near drug policy reform, examining the successes of regional neighbors like Colombia could illuminate how similar policies to develop the <a href="http://benzinga.com/cannabis">cannabis industry</a> could revitalize its exhausted <a href="https://www.benzinga.com/government/24/07/40052593/tensions-rise-in-venezuela-as-opposition-disputes-election-results-impact-on-oil-etfs">oil-dependent economy</a>.
<h3 class="wp-block-heading">Venezuela&#8217;s Cannabis Policy And Political Dynamics</h3>
Venezuela&#8217;s approach to drug law reform has evolved significantly over the years. Since 1993, the country replaced prison sentences with &#8220;social security measures&#8221; for small-scale drug possession, including up to 20 grams of cannabis. As the Transnational Institute <a href="https://www.tni.org/en/publication/about-drug-law-reform-in-venezuela">notes</a>, while less punitive, this policy still includes mandatory treatment, potentially leading to obligatory internment in specialized centers, thus retaining punitive aspects under the guise of rehabilitation and raising questions about the need for more comprehensive changes.
Furthermore, within the broader context of Venezuela&#8217;s politics, opposition leader María Corina Machado has expressed conditional support for the legalization of marijuana for medicinal purposes in an <a href="https://politiks.co/maria-corina-machado-hay-que-privatizar-pdvsa-2/">interview</a> with Politiks last year.
<h3 class="wp-block-heading">Venezuela: Transit Hub For Colombian Cannabis</h3>
The geopolitical context further complicates Venezuela&#8217;s drug policy. As a key transit country for illicit drugs, particularly marijuana from Colombia, Venezuela faces significant challenges. According to an InSight Crime <a href="https://insightcrime.org/es/noticias/venezuela-corredor-marihuana-colombiana-exterior/">article</a>, large-scale drug seizures are common, underscoring Venezuela&#8217;s role as a critical corridor for high-potency Colombian cannabis, also known as &#8216;creepy.&#8217;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40016337/cannabis-policy-split-in-latin-america-costa-rica-halts-legalization-while-colombia-pushes-ahead">Cannabis Policy Split In Latin America: Costa Rica Halts Legalization While Colombia Pushes Ahead With Recreational Weed</a>
<h3 class="wp-block-heading">Colombia&#8217;s Cannabis Success Model And Opportunities In Latin America</h3>
Despite these hurdles, there is little discourse in Venezuela on the potential benefits of drug policy reform. Nevertheless, moves such as legally regulating cannabis could help curb illegal trafficking and open up economic opportunities, like other countries in the region. Notably, <a href="https://www.benzinga.com/markets/cannabis/24/05/38703727/colombian-government-invests-in-cannabis-industry-developments-aims-for-44-000-new-jobs-by-2030">the Colombian government has invested heavily in the cannabis industry</a>, aiming to create up to 44,000 new jobs by 2030, driven by global demand for both <a href="http://benzinga.com/topic/medical-cannabis">medicinal</a> and industrial marijuana products.
With the legal cannabis industry in <a href="https://www.benzinga.com/markets/cannabis/23/09/33840003/latin-americas-best-kept-cannabis-secret-meet-the-biggest-marijuana-company-in-the-region">Latin America</a> projected to grow from $33.9 billion in 2023 to $44.8 billion by 2025, the case of Colombia illustrates the transformative impact of cannabis legalization on economic development and job creation. By regulating and supporting the cannabis industry, <a href="https://www.benzinga.com/markets/cannabis/23/11/35623611/latin-americas-cannabis-industry-boom-why-red-tape-could-stifle-growth">Colombia has positioned itself as a leader in the global cannabis market</a>, providing a model that Venezuela could consider amidst its economic and political turmoil.
Colombia&#8217;s cannabis policies have fostered the presence of successful companies, including Clever Leaves Holdings Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLVR#OTC">CLVR</a>), Khiron Life Sciences Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KHRNF#OTC">KHRNF</a>) and PharmaCielo Ltc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PCLOF#OTC">PCLOF</a>).
<h3 class="wp-block-heading">Fraud Claims Impact Of Venezuela&#8217;s Politics</h3>
Despite the potential benefits, drug policy reform in Venezuela does not appear on its list of priorities. The path to reform seems a distant mirage and is riddled with obstacles, particularly in light of recent <a href="https://www.benzinga.com/news/24/07/40012327/us-expresses-serious-concern-as-both-venezuelan-president-nicolas-maduro-and-opposition-claim-electi">elections tainted by accusations of fraud provoking serious international concern</a>. U.S. Secretary of State Anthony Blinken has expressed serious concerns about the electoral process, emphasizing the need for transparent and fair practices.
Read Next:
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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>.

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