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Eastgate Biotech Corp is engaged in the development of novel formulations of natural compounds and pharmaceutical products, by developing its proprietary self-emulsifying drug delivery systems, predominantly forming nanoemulsions.

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Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas">many investors&#8217; favorite stocks</a> over the last week. Here&#8217;s a look at some of our top stories.
The S&amp;P 500 decreased by 0.8% and the Nasdaq dropped by 2.1%, with both indexes experiencing consecutive weekly losses for the first time since April. In contrast, the Dow saw a 0.8% increase, achieving its fourth straight positive week — a milestone not reached since May.
Small-cap stocks continued to perform well, with the Russell 2000 Index achieving its third consecutive week of gains, fueled by optimism over potential interest rate cuts. 
On the economic front, the U.S. economy grew at an annualized rate of 2.8% in the second quarter, surpassing the expected 2% growth, while a key inflation measure watched by the Federal Reserve fell to 2.5% in June, the lowest since February 2021, reinforcing expectations <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">for a rate cut in September</a>.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/general/entertainment/24/07/39891426/amc-entertainment-stock-halted-movie-theater-chain-announces-restructuring-of-debt-load-ada">&#8220;AMC Entertainment Stock Halted: Movie Theater Chain Announces Restructuring of Debt Load,&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, details AMC Entertainment Holdings Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) plans to restructure its debt, moving U.S. theaters into a different unit and issuing new secured term loans, while CEO Adam Aron anticipates recovery and growth, addressing recent box office challenges.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39955624/is-dogecoin-really-moving-according-to-plan-prominent-analyst-claims-i-havent-sold-one-sin">&#8220;Is Dogecoin Really Moving &#8216;According To Plan?&#8217; Prominent Analyst Claims: &#8216;I Haven&#8217;t Sold One Single DOGE, I&#8217;ve Just Been Buying,'&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports that crypto analyst Ali Martinez asserts Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is following a historical pattern, suggesting a potential 44% rise, as he continues to buy DOGE without selling.
<a href="https://www.benzinga.com/exclusives/24/07/39886192/exclusive-tesla-an-elon-musk-and-a-technology-story-first-ev-story-last-market-strategist-explains-w">&#8220;EXCLUSIVE: Tesla &#8216;An Elon Musk And A Technology Story First, EV Story Last&#8217; — Market Strategist Explains Why To Buy The Stock,&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, details how market strategist Jay Woods believes Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is driven more by Elon Musk&#8216;s technological innovations than its EV business, and why investors should consider buying Tesla stock.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/news/24/07/39891082/southwest-airlines-saved-by-procrastination-how-32-year-old-software-protected-company-from-microsof">Southwest Airlines Saved By Procrastination: How 32-Year-Old Software Protected Company From Microsoft Outage, CrowdStrike Issues</a>
<a href="https://www.benzinga.com/markets/equities/24/07/39939788/buy-the-dip-market-expert-says-recent-pullback-part-of-healthy-bull-market-a-little-tiny-ounce-o">Buy The Dip? Market Expert Says Recent Pullback Part Of Healthy Bull Market: &#8216;A Little Tiny Ounce Of Volatility, It Feels So Foreign&#8217;</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years</a>
The Bears
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">&#8220;Alphabet Investors Fret Over Margin Impact Of Higher AI-related Capex, But Fund Manager Says Not Spending Enough Exposes Google&#8217;s Parent To Risk Of &#8216;Losing Their Grip On The Future,'&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, discusses concerns over Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) increased AI-related capital expenditures impacting margins, while fund manager Gene Munster argues that not investing sufficiently in AI could jeopardize the company&#8217;s future competitive edge.
<a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership">&#8220;Mark Zuckerberg Slams Tim Cook&#8217;s Apple After Cupertino Reportedly Rejected Its iPhone AI Partnership Proposal: &#8216;They Wanted To Put Us In A Box…,'&#8221;</a> by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, reports that Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg criticized Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) for rejecting Meta&#8217;s AI partnership proposal, claiming Apple wanted to limit Meta&#8217;s competitive influence.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a>
<a href="https://www.benzinga.com/markets/equities/24/07/39898236/jeff-bezos-era-downstream-impact-losing-its-mojo-amazon-ceo-andy-jassy-is-reportedly-rethinking-">Jeff Bezos-Era &#8216;Downstream Impact&#8217; Losing Its Mojo? Amazon CEO Andy Jassy Is Reportedly Rethinking Alexa Devices Business Model Resulting In Billions Worth Of Losses</a>
<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">Vice President Harris Snubs Bitcoin Conference: &#8216;Would Have Been A Disaster For Her,&#8217; Shrugs Organizer</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Tesla, AMC, Meta And Crypto Analyst Predicts Dogecoin Will Follow Historical Pattern

Electric-vehicle makers&#8217; shares pulled back this week amid the broader market weakness, with market leader Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/markets/equities/24/07/39926440/tesla-stock-is-plunging-over-7-in-wednesdays-pre-market-after-q2-earnings-whats-going-on">earnings not offering any respite</a>.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla Posts Mixed Results: Kicking off the EV reporting season this week, Tesla had a mixed tale to tell. Second-quarter revenue exceeded expectations but earnings per share trailed estimates. Fund Manager Gary Black blamed the earnings per share miss on restructuring charges related to job cuts. Investors also fretted over a surge in regulatory credits and management commentary regarding a notable drop in volume this year.
CEO Elon Musk tried to rev up sentiment by pointing to the promise that robotics holds for the company and raving over Tesla&#8217;s full self-driving software. He also said the eagerly awaited robotaxi event has been shifted to Oct. 10. Investors did not buy into the potential of the energy storage business, which doubled during the quarter. The stock, which had been rebounding nicely ahead of the quarterly results, reversed course and ended with a weekly drop of more than 8%.
Rivian&#8217;s Scaringe Talks Up New R2 Platform: In a podcast, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO R.J. Scaringe said Tesla&#8217;s Model Y and Model 3 EVs, though excellent, have saturated the market, leaving buyers craving variety. &#8220;If you want to spend less than $50,000 for an EV, I'd say there's a very, very small number of great products,&#8221; Scaringe <a href="https://podcasts.apple.com/us/podcast/decoder-with-nilay-patel/id1011668648?i=1000662961702">told</a> the Decoder podcast in December.
While many EV companies have tried to replicate the success Tesla has had with the Model Y EVs, they have not focused on giving diverse choices. Scaringe also clarified that Rivian&#8217;s R2 platform-based will not be a Model Y copycat.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
GM To Go Slow On EVs: On its earnings call this week, General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) said it was slowing plans for EVs by delaying a second EV truck plant in Michigan by six months and delaying the first Buick brand EV. The delay until mid-2025 suggests GM may not hit its 2025 production target of one million EVs. CEO Mary Barra said the company is looking to grow &#8220;responsibly and profitably.&#8221; EVs accounted for just 3.2% of GM&#8217;s total second-quarter U.S. sales.
Xiaomi Quick With EV Ramp-Up: Xiaomi Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) Chairman and CEO Lei Jun said in a Weibo post that the smartphone maker is on track to meet its annual delivery target of 100,000 EV units for 2024 two months ahead of schedule, CnEVPost <a href="https://cnevpost.com/2024/07/26/xiaomi-completes-capacity-ramp-up-100000-target-nov/">reported</a>. According to the report, Jun said that Xiaomi has completed its factory capacity ramp-up and has sold 30,000 units of its SU7 model in a little over three months since the vehicle&#8217;s launch.
Lucid Stitches Battery Material Deal:  Lucid Group, Inc. (NASDAQ LCID) announced an agreement with mineral exploration company Graphite One Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GPHOF#OTC">GPHOF</a>) <a href="https://www.benzinga.com/markets/equities/24/07/39959245/whats-going-on-with-lucid-group-stock-today">for the supply of anode active materials</a>.
&#8220;We are committed to accelerating the transition to sustainable vehicles and the development of a robust domestic supply chain ensures the United States, and Lucid, will maintain technology leadership in this global race,&#8221; said Lucid CEO/CTO Peter Rawlinson. &#8220;Through work with partners like Graphite One, we will have access to American-sourced critical raw materials, helping power our award-winning vehicles made with pride in Arizona.&#8221;
The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session up 0.72% at $19.31 according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF fell 3.84%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39951197/jim-cramer-calls-elon-musk-bankable-and-visionary-as-tesla-shares-fall-over-12-why-">Jim Cramer Calls Elon Musk &#8216;Bankable&#8217; And Visionary As Tesla Shares Fall Over 12%: Why The Stock Picker Recommends To &#8216;Buy This Weakness&#8217;</a></li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-8.11%</td>
</tr>
<tr>
<td>Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>-0.67%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+0.71%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-2.55%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>-10.78%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>+7.58%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>-10.00%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-3.22%</td>
</tr>
<tr>
<td>Lucid</td>
<td>-3.43%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NYSE">FFIE</a>)</td>
<td>-11.07%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-9.03%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

Media

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NKLA

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WKHS

XIACY

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Elon Musk's Optimism Doesn't Rub Off On Investors, Rivian CEO Says R2 Not Model Y Copycat, GM's EV Goals Scaled Back Yet Again And More: Biggest EV Stories Of The Week

In response to a recent U.S. Supreme Court decision, California Gov. <a href="https://www.benzinga.com/topic/gavin-newsom" target="_blank" rel="noreferrer noopener">Gavin Newsom</a> announced an executive order on Thursday directing state officials to initiate the removal of <a href="https://www.benzinga.com/news/24/07/39875041/gavin-newsom-backs-kamala-harris-calls-vp-tough-fearless-and-tenacious-the-ideal-candidate-to-counte" target="_blank" rel="noreferrer noopener">homeless encampments across the state.</a>
Last month, the high court upheld an Oregon city&#8217;s practice of ticketing homeless individuals for sleeping outside, rejecting claims that such &#8220;anti-camping&#8221; ordinances infringed on the Constitutional prohibition against &#8220;cruel and unusual&#8221; punishment, <a href="https://edition.cnn.com/2024/07/25/us/gavin-newsom-executive-order-homeless-encampments/index.html" target="_blank" rel="noreferrer noopener">reported </a>CNN.
&#8220;This executive order directs state agencies to move urgently to address dangerous encampments while supporting and assisting the individuals living in them — and provides guidance for cities and counties to do the same,&#8221; Newsom said. &#8220;There are simply no more excuses. It&#8217;s time for everyone to do their part.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/07/39875041/gavin-newsom-backs-kamala-harris-calls-vp-tough-fearless-and-tenacious-the-ideal-candidate-to-counte" target="_blank" rel="noreferrer noopener">Gavin Newsom Backs Kamala Harris, Calls VP Tough, Fearless And Tenacious: &#8216;The Ideal Candidate To Counter Donald Trump&#8217;</a>
According to a 2023 report from the U.S. Department of Housing and Urban Development submitted to Congress, California has the largest homeless population in the country, exceeding 180,000 individuals.
The nationwide estimate for people experiencing homelessness stands at approximately 653,100, marking an increase of about 12% since 2022.
California&#8217;s response to the Supreme Court decision is attracting significant attention from other cities and states. Newsom&#8217;s executive order has sparked controversy, drawing criticism from both homeless advocates and some elected officials.
Michael Weinstein, president of the AIDS Healthcare Foundation and leader of the Housing is a Human Right initiative, criticized Newsom&#8217;s actions as an attempt to &#8220;criminalize poverty&#8221; and a continuation of &#8220;failed policies.&#8221;
In a statement released Thursday, Weinstein questioned, &#8220;Governor Newsom, where do you expect people to go? This is a shameful moment in California history.&#8221;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-" target="_blank" rel="noreferrer noopener">Tech Stocks Slide On Earnings, US Economy Flexes Muscles, Small-Cap Rally Continues: This Week In The Markets</a></li>
</ul>
Photo: Shutterstock

Politics

General

Human Rights Advocates Condemn Gov. Newsom's Homeless Encampment Removal Order: 'Shameful Moment In California History'

In a recent <a href="https://www.youtube.com/watch?v=36cvblilqe8">installment</a> of Prof G Markets, <a href="https://www.benzinga.com/topic/anthony-scaramucci">Anthony Scaramucci</a>, the founder and managing partner of <a href="https://www.benzinga.com/topic/skybridge-capital">SkyBridge Capital</a>, shared his thoughts with podcast host Scott Galloway on Donald Trump's political strategies and their potential impact on the country. Scaramucci, who once served as Trump's Communications Director, didn&#8217;t hold back in his critique.
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Scaramucci argued that <a href="https://www.benzinga.com/news/24/07/39630382/paul-krugman-says-trump-tariffs-will-hurt-80-of-americans-benefit-only-the-top-1-burden-would-fall-o">Trump's proposal for extremely high tariffs</a> would disproportionately harm poor people. "[Tariffs] are regressive taxes on poor people," he said. In translation, they hit lower-income individuals the hardest. This, he suggested, contradicts Trump's image as a pro-business leader, as the economic burden would fall on those least able to bear it.
When the host asked him whether he thinks Trump is serious about implementing these tariffs, Scaramucci said, &#8220;This guy knows how to boil a frog better than anybody I&#8217;ve ever met. You're in the cold water, and he simmers the frog until the frog is dead. Do you know, many things from 2016 to today that we could say, is he serious about that, and then you say, oh no, he&#8217;s not serious about that, and he does it? You're like, holy sh&#x2A;t, he is serious … and then he does it again.&#8221;
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
According to Scaramucci, Trump's actions always aim to consolidate his power. "Always look at this through the prism of Trump's power," he advised before continuing, &#8220;This is not a public servant. He&#8217;s not there to serve his fellow men and women. He&#8217;s there to serve himself. He&#8217;s there to serve his cronies. Classic totalitarianism.&#8221;
He pointed out that Americans lack a historical memory of dictatorship and authoritarianism, unlike Europeans, who have visible reminders of past fascism. He stressed the importance of educating people about these dangers to prevent a slide into authoritarianism.
Trending: This investment company boasts a 35.14% internal rate of return (IRR) for its realized projects, allowing accredited investors to<a href="https://www.benzinga.com/money/bam-capital"> earn passive returns and avoid the headaches of being a landlord.</a>
Scaramucci said that despite the political turmoil, the markets have been surprisingly stable when asked about how the markets have reacted to all of this. "Markets like split governments. [They] like inertia," he explained, suggesting that the Federal Reserve's actions, like rate hikes, have been key. He expects rate cuts by the end of the year, which he believes will continue to drive the market, regardless of the election outcome.
Scaramucci's warnings about Trump are serious. Still, we have to look at the bigger picture. Historically, Trump's policies and leadership style have strong supporters and vocal critics. The <a href="https://www.benzinga.com/general/politics/24/07/39946360/trump-vs-harris-2024-election-candidates-tied-in-new-poll-65-of-democrats-say-biden-stepping-dow">country is split in half</a>. Supporters say his unique approach shakes things up and defends American interests. Critics like Scaramucci caution about the dangers of too much power and the potential harm to those who are less fortunate. Ultimately, it&#8217;s up to each individual to weigh these perspectives carefully for themselves.
Read Next:
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<li>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></li>
<li>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></li>
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Trump Is 'Calling For Sky-high Tariffs Which Will Cripple Poor People,' Says Anthony Scaramucci – 'This Guy Knows How To Boil A Frog'

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