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CIMG

CIMG Inc is a coffee and technologies company. The company is a co-packer of single-serve pour-over coffee, coffee brew bags and Dripkits. The company's brand portfolio includes Coffee Blenders, Twin Peaks, Active Cup, Relax Cup, Think Cup, Nude Cup, Pine Ranch Coffee, and Dripkit. Its geographical segments are North America, which accounts for the majority of revenue; and South Korea.

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NTAP

NetApp shares are trading higher following better-than-expected Q2 financial results.

Intuit announced guidance for the second quarter of fiscal year 2025, which ends January 31. The company expects:
<ul>
<li>Revenue of $3.812 billion to $3.845 billion, growth of approximately 13 to 14 percent. The company expects a single digit decline in Consumer Group revenue due to some promotional changes in retail channels largely related to its desktop offering. This only impacts revenue timing and does not impact overall unit or revenue expectations for fiscal year 2025. The company expects Global Business Solutions Group Desktop Ecosystem revenue to return to growth in the second quarter.</li>
<li>GAAP diluted earnings per share of $0.84 to $0.90.</li>
<li>Non-GAAP diluted earnings per share of $2.55 to $2.61.</li>
</ul>

News

Guidance

INTU

Intuit Sees Q2 Adj. EPS $2.55-$2.61 Vs $3.25 Est.; Revenue $3.812B-$3.845B Vs $3.88B Est.

<a href="https://storage.courtlistener.com/recap/gov.uscourts.txnd.395430/gov.uscourts.txnd.395430.30.0.pdf" title="https://storage.courtlistener.com/recap/gov.uscourts.txnd.395430/gov.uscourts.txnd.395430.30.0.pdf">https://storage.courtlistener.com/recap/gov.uscourts.txnd.395430/gov.uscourts.txnd.395430.30.0.pdf</a>

MSTR

MicroStrategy Completes $3B Offering Of 0% Convertible Senior Notes Due 2029, Including $400M Option Exercised By Initial Purchasers

Abacus intends to use net proceeds of the primary portion of the offering for its operations, including the purchase of life settlement policies, to support its overall business strategy, for working capital purposes, and for general corporate purposes, which may include funding previously announced and future acquisitions and repayment and refinancing of its indebtedness. Abacus will receive no proceeds from the secondary portion of the offering.

Offerings

Abacus Life Commences Public Offering Of 12.50M Shares Of Its Common Stock, Including 10M Shares By  Company And 2.50M To Be Sold By Certain Stockholders

NetApp Sees Q3 FY25 Revenue $1.61B-$1.76B, GAAP EPS $1.41-$1.51, Non-GAAP EPS $1.85-$1.95; Sees FY25 Revenue $6.54B-$6.74B, GAAP EPS $5.48-$5.68, Non-GAAP EPS $7.20-$7.40

Highly anticipated movies "Wicked" and "Gladiator II" are being released on the same day and come shortly ahead of "Moana 2," setting up what could be a record-breaking Thanksgiving weekend for the <a href="https://www.benzinga.com/news/earnings/24/11/41790068/amc-ceo-is-confident-and-optimistic-about-cinema-chains-future-as-q3-earnings-show-revenue-beat-rec">movie theater industry</a>.
What Happened: "Wicked" and "Gladiator II" open in domestic movie theaters on Nov. 22, in a move that some compared to the release of "Barbie" and "Oppenheimer" on the<a href="https://www.benzinga.com/general/entertainment/24/07/39621420/wicked-gladiator-2-same-day-release-has-industry-vying-for-another-box-office-power-duo-bar"> same day last year.</a>
While "Glicked" or whatever acronym you want to use for seeing both movies the same day didn't catch on as big as last year's "Barbenheimer" did previously, expectations remain high for both movies.
"Wicked," which comes from Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) unit Universal Pictures, is expected to post a domestic opening weekend total in the range of $125 million to $150 million, as <a href="https://deadline.com/2024/11/wicked-gladiator-box-office-preview-1236181463/">reported </a>by Deadline.
"Gladiator II," which comes from Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), is expected to have a domestic opening weekend of more than $60 million.
Deadline reports strong initial audience scores for "Wicked" from those who saw early screenings of the film and pre-sales that are "through the roof."
As an R-rated movie, a total of $60 million or more could help "Gladiator II" become the highest-grossing R-rated film in November.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/11/41987956/airbnb-says-are-you-not-entertained-new-roman-colosseum-experience-coincides-with-gladiator-sequel">Airbnb Says &#8216;Are You Not Entertained?&#8217; New Roman Colosseum Experience Coincides With Gladiator Sequel</a>
Why It's Important: The strong expected opens for "Wicked" and "Gladiator II" could be good news for AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) and Cinemark Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNK#NYSE">CNK</a>) and other movie theater operators in the U.S.
Along with those two movies, movie theaters could also benefit from the release of "Moana 2" from Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), which comes next Wednesday, ahead of the Thanksgiving holiday.
The three movies could help the domestic box office pass $300 million and hit all-time records for the holiday five-day weekend, <a href="https://www.hollywoodreporter.com/movies/movie-news/box-office-record-thanksgiving-feast-1236067367/">according </a>to The Hollywood Reporter.
With three strong movies all released shortly before Thanksgiving, estimates predict a strong domestic box office next week, which could be another bright spot in the post-COVID-19 recovery for movie theaters and movie companies.
A total of over $300 million, with most coming from the three films, could come close to the record. Here's a look at the current top-grossing five-day domestic Thanksgiving weekends and the highest-grossing film during the time period:
<ul>
<li>2018: $315.6 million, "Ralph Breaks the Internet" ($84.8 million)</li>
<li>2013: $294.2 million, "The Hunger Games: Catching Fire" ($109.9 million)</li>
<li>2017: $270.5 million, "Coco" ($72.9 million)</li>
<li>2019: $263.4 million, "Frozen II" ($125.0 million)</li>
<li>2016: $260.0 million, "Moana" ($125.0 million)</li>
</ul>
The report said current tracking predicts "Moana 2" will gross between $125 million and $150 million for the five-day holiday weekend domestically, which would break records for the time period.
The early Wednesday opening could contribute to the strong expectations for "Moana 2" as not all blockbusters haven't done this same holiday release window previously, the report added.
While the strong opening expectations for the three films could help the movie companies behind them, the big winners will likely be the movie theaters as they could see many customers coming in more than once during a period that might have only drawn one visit in past years due to this year's strong lineup.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39718738/elon-musk-predicts-gladiator-sequel-will-be-painfully-bad-embarrassingly-so-films-star-says">Elon Musk Predicts Gladiator Sequel Will Be &#8216;Painfully Bad. Embarrassingly So&#8217;: Film&#8217;s Star Says Movie Takes &#8216;New Direction&#8217;</a></li>
</ul>
Photo: Movie posters via IMDb

Entertainment

Trading Ideas

CMCSA

PARA

PARAA

'Wicked,' 'Gladiator II,' 'Moana 2' Could Break Thanksgiving Weekend Box Office: Stocks To Watch

Management

FLUX

Flux Power Chairman & CEO Ron Dutt To Retire

Ross Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) reported quarterly earnings of $1.48 per share which beat the analyst consensus estimate of $1.40 by 5.71 percent. This is a 11.28 percent increase over earnings of $1.33 per share from the same period last year. The company reported quarterly sales of $5.07 billion which missed the analyst consensus estimate of $5.15 billion by 1.45 percent. This is a 2.97 percent increase over sales of $4.92 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

ROST

Ross Stores Q3 EPS $1.48 Beats $1.40 Estimate, Sales $5.07B Miss $5.15B Estimate

NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) reported quarterly earnings of $1.87 per share which beat the analyst consensus estimate of $1.78 by 5.06 percent. The company reported quarterly sales of $1.658 billion which beat the analyst consensus estimate of $1.645 billion by 0.79 percent. This is a 6.15 percent increase over sales of $1.562 billion the same period last year.

NetApp Q2 2025 Adj. EPS $1.87 Beats $1.78 Estimate, Sales $1.658B Beat $1.645B Estimate

Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) reported quarterly earnings of $2.50 per share which beat the analyst consensus estimate of $2.35 by 6.38 percent. This is a 1.21 percent increase over earnings of $2.47 per share from the same period last year. The company reported quarterly sales of $3.28 billion which beat the analyst consensus estimate of $3.14 billion by 4.59 percent. This is a 10.24 percent increase over sales of $2.98 billion the same period last year.

Intuit Q1 2025 Adj EPS $2.50 Beats $2.35 Estimate, Sales $3.28B Beat $3.14B Estimate

Ark Invest CEO Cathie Wood has laid out several price targets for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) including a bull case of $3.8 million if more companies add the cryptocurrency to their balance sheet. Benzinga readers see this price target as not likely to be reached by<a href="https://www.benzinga.com/general/education/24/11/42017619/heres-how-much-100-in-bitcoin-could-be-worth-in-2030-if-cathie-woods-price-target-is-reached"> Wood's projection of 2030.</a>
What Happened: Wood has shared several price targets for Bitcoin over the years, which might seem more realistic given that the leading cryptocurrency <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42109267/bitcoin-hits-new-all-time-high-above-98000-as-spot-etfs-crack-100-billion-net-asset-value-milestone" target="_blank" rel="noopener">has hit</a><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42109267/bitcoin-hits-new-all-time-high-above-98000-as-spot-etfs-crack-100-billion-net-asset-value-milestone"> multiple all-time highs </a>since the 2024 presidential election.
Earlier this year, Wood laid out <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/02/30660447/cathie-woods-ark-sees-bitcoin-joining-trillion-dollar-club-by-2030-here-are-its-bea" target="_blank" rel="noreferrer noopener">her price targets </a>for Bitcoin based on a bear case, base case and bull case for the year 2030. Wood also added a new bull case that includes the highest price Bitcoin <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37902973/cathie-wood-says-bitcoin-could-skyrocket-to-3-8m-by-2030-thanks-to-institutional-gr" target="_blank" rel="noreferrer noopener">could potentially reach by 2030</a> if companies allocated 5% to Bitcoin.
<ul>
<li>The price targets are:</li>
<li>Bear Case: $258,500</li>
<li>Base Case: $682,000</li>
<li>Bull Case: $1,480,000</li>
<li>Bullish Case: $3,800,000</li>
</ul>
Benzinga recently asked readers if they thought Wood's highest price target could be reached by the year 2030.
"Will Cathie Wood's Bitcoin price prediction of $3.8 million by 2030 come true?" Benzinga asked.
The results were:
<ul>
<li>No, Bitcoin will never reach $3.8 million: 34%</li>
<li>No, Bitcoin won't reach $3.8 million by 2030: 25%</li>
<li>Bitcoin could reach $3.8 million, but not by 2030: 24%</li>
<li>Yes, Bitcoin will reach $3.8 million by 2030: 17%</li>
</ul>
The poll found that only 17% of readers said that Bitcoin is likely to hit $3.8 million by 2030. The highest percentage of readers said Bitcoin will never reach the $3.4 million price target. The remaining readers see Bitcoin potentially hitting $3.8 million, but it will come after 2030.
Read Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34028505/exclusive-why-does-cathie-wood-think-bitcoin-is-going-to-1-million-what-does-she-know-that" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Why Does Cathie Wood Think Bitcoin Is Going To $1 Million — What Does She Know That We Don't?</a>
Why It's Important: Part of Wood's thesis hinges on corporations adding Bitcoin to their balance sheet.
MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is the most famous example of this. The software company continues to invest its profits in Bitcoin and <a href="https://www.benzinga.com/24/11/42118133/short-seller-andrew-left-targets-microstrategy-stock-as-hedge-against-bullish-bitcoin-bet-completely-detached-from-btc-fundamentals" target="_blank" rel="noopener">borrow to continue investing</a> in Bitcoin.
Other companies, such as Tesla Inc. and Block Inc., added Bitcoin to their balance sheets, but in lower quantities than MicroStrategy.
MicroStrategy Chairman Michael Saylor recently said <a href="https://www.benzinga.com/24/11/42079799/microstrategys-michael-saylor-to-advocate-for-bitcoin-investment-at-microsoft-board-meeting-offers-to-educate-rumble-ceo-with-the-strategy">he will be presenting</a> to the Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Board of Directors on why the tech giant should add Bitcoin to their balance sheet. The item was proposed to the company and could mark one of the largest companies to buy Bitcoin if the deal goes through.
Saylor also said he would advise Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>), whose CEO is considering buying Bitcoin.
There is also the potential that the new White House administration will advance<a href="https://www.benzinga.com/news/events/24/11/42071064/exclusive-anthony-pompliano-calls-for-us-to-buy-250b-bitcoin-on-day-1-of-trump-administration-protect-our-future-its-such-a-no-brainer"> calls to buy Bitcoin</a> for a strategic reserve.
With a fixed maximum supply of 21 million Bitcoin, the demand from corporations and country governments to add BTC to reserves and balance sheets would likely spike the price, which was the key thesis of Wood's price target.
Wood recently reiterated her price targets in a CNBC <a href="https://x.com/BitcoinMagazine/status/1857483221857865879" target="_blank" rel="noreferrer noopener">interview</a><a href="https://x.com/BitcoinMagazine/status/1857483221857865879" target="_blank" rel="noopener">,</a> highlighting Ark Invest&#8217;s early investment in Bitcoin.
&#8220;We were the first public asset manager to gain exposure to Bitcoin in 2015 at $250,&#8221; Wood said.
Wood said that even with Bitcoin trading at around $90,000, the company believes there is a long way to go.
The fund manager said that getting regulatory relief with a new administration is one of the most important things for Bitcoin. Wood also sees Bitcoin being viewed as a new asset class, leading to more institutions and asset allocators wanting to invest in the top cryptocurrency.
Wood's Ark Invest&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36605838/ark-invest-ceo-cathie-wood-projects-a-single-bitcoin-could-be-worth-1-5m-by-2020-probabili" target="_blank" rel="noreferrer noopener">was also one of several companies&nbsp;</a>to have a Bitcoin ETF approved by the SEC with its&nbsp;Ark 21 Shares Bitcoin ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
BTC Price Action: Bitcoin trades at $98,617.47 at the time of writing and is up 123% year-to-date in 2024. A <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41951961/bitcoin-to-100k-benzinga-readers-predict-if-btc-can-hit-new-milestone-before-end-of-2024">recent Benzinga poll </a>found that 73% of readers believe Bitcoin will reach $100,000 by the end of 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42119493/rumble-eyes-buying-bitcoin-could-it-be-the-next-microstrategy">Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally</a></li>
</ul>
The study was conducted by Benzinga from Nov. 14 through Nov. 15, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 156 adults.
Image created using a photo from Ark Invest and Midjourney.

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

Cryptocurrency

Exclusives

$BTC

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

MSFT

Cathie Wood's $3.8 Million Bitcoin Vision Met With Doubt: 83% Say Not By 2030

On Wednesday, justice reform advocates, formerly incarcerated people and their families as well as the Last Prisoner Project joined Reps. Ayanna Pressley, James E. Clyburn, Mary Gay Scanlon, Ilhan Omar and other congressional leaders to announce their joint letter urging President Biden to grant clemency to non-violent federal cannabis prisoners before his term ends. "Now is the time to use your clemency authority to rectify unjust and unnecessary criminal laws passed by Congress and draconian sentences given by judges," reads the <a href="https://s3.documentcloud.org/documents/25354946/2024-11-20-letter-to-president-biden-on-clemency.pdf">letter</a>. "We urge you to use your executive clemency power to reunite families, address longstanding injustices in our legal system, and set our nation on the path toward ending mass incarceration."
Reps. Pressley, Clyburn, and Gay Scanlon led the letter signed by a total of 67 Democratic members of Congress.
"You have the support of millions of people across the country who have felt the harms of mass incarceration: young children longing to hug their grandparents, people who have taken responsibility for their mistakes, and those who simply were never given a fair chance. These are the people seeking help that only you can provide through the use of your presidential clemency power," the letter concludes.
Congresswoman Ilhan Omar commented, &#8220;While cannabis is now legal in Minnesota and many states across America, thousands remain behind bars in federal prisons for the same substance – a reminder of the work still ahead. President Biden still has time to build on his initial pardons and take decisive action. He can extend clemency to every person still serving time for federal cannabis offenses, many of whom have already spent decades behind bars. In Minnesota, we&#8217;ve shown that cannabis legalization and expungement can move hand in hand. Now it&#8217;s time for federal action to match this progress.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Rep. Ayanna Pressley, Colleagues, Advocates Urge Biden to Use Clemency Power Before Leaving Office" width="500" height="281" src="https://www.youtube.com/embed/tTw2dJlUvfI?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>
</div>
</figure>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Recent Efforts</h2>
This action aligns with Last Prisoner Project's <a href="https://www.benzinga.com/markets/cannabis/24/09/40805469/biden-faces-pressure-to-release-thousands-imprisoned-for-federal-cannabis-convictions">#Countdown4Clemency campaign</a>, which is focusing public pressure on Biden to use his clemency power before the end of his presidency to free those still incarcerated in federal prison for cannabis crimes so they can be reunited with their families. The nonprofit cannabis justice reform organization recently urged the president to <a href="https://www.benzinga.com/markets/cannabis/24/11/42087262/president-biden-people-are-still-in-jail-for-marijuana-despite-your-promise-cannabis-clemency-advocates-call-for-change">#PardonPeopleNotPoultry</a> and end the incarceration of thousands for cannabis offenses now legal in many states.
LPP stressed that Biden has <a href="https://www.benzinga.com/markets/cannabis/24/09/40885403/biden-has-not-freed-anyone-in-prison-for-cannabis-crime-last-prisoner-project-urges-president-to" target="_blank" rel="noreferrer noopener">not released a single person</a> still incarcerated for cannabis through commutation. While his <a href="https://www.benzinga.com/markets/cannabis/24/11/42087262/Biden%20Pardons%20Thousands%20Convicted%20Of%20Cannabis%20Possession,%20Calls%20On%20Governors%20To%20Do%20The%20Same" target="_blank" rel="noreferrer noopener">categorical pardons</a> provided record relief to thousands of people with cannabis possession convictions, this move alone does not address the estimated 3,000 people still serving time in federal prisons for cannabis offenses.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39319868/meet-the-man-who-did-prison-time-for-non-violent-cannabis-offense-and-now-advocates-for-others-i">Meet The Man Who Did Prison Time For Non-Violent Cannabis Offense And Now Advocates For Others In The Same Situation</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21061829/LPP-6519-1024x683.jpg" alt="" class="wp-image-658581" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21061829/LPP-6519-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21061829/LPP-6519-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21061829/LPP-6519-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21061829/LPP-6519-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21061829/LPP-6519.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Latino Fathers In Jail</h2>
 Mitzi Wall, whose son Jonathan Wall is incarcerated on an eight-year federal cannabis charge, said, "Earlier this year I attended the historic pardon action where Maryland Gov. Wes Moore used the pen to right history to grant clemency <a href="https://www.benzinga.com/markets/cannabis/24/06/39357557/maryland-gov-to-pardon-175k-low-level-cannabis-convictions-in-the-nations-most-far-reaching-and-">to more than 175,000 cannabis possession and paraphernalia charge</a>s. Yet other Marylanders like my son, Jonathan Wall, who are incarcerated on federal cannabis charges, can only get that type of clemency relief by the president taking the pen."
Jason Ortiz, director of strategic initiatives at Last Prisoner Project, said "There are a heartbreaking number of Latino fathers incarcerated for life or near-life sentences for activity now happening legally across our nation. People like <a href="Meet The Man Serving A 40-Year Sentence For Non-Violent Cannabis Charges, Awaiting Pardon From Biden">Edwin Rubis</a> who is a father of three and has served 27 years of a 40-year sentence. President Biden has the power to reunite our families but the clock is running out."
Among those still behind bars is Ricardo Ashmeade, who is serving a 22-year sentence due to the three-strikes law championed by then-Senator Biden. His daughter, Richeda Ashmeade, has been separated from her father for 16 years. In addition to Ricardo, individuals like Rafael Hernandez-Carrillo, who is serving a life sentence for a cannabis-related offense, and David Lopez, who has faced years behind bars for court errors on his cannabis charges, exemplify the urgent need for clemency.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40885403/biden-has-not-freed-anyone-in-prison-for-cannabis-crime-last-prisoner-project-urges-president-to">Biden &#8216;Has Not Freed Anyone In Prison For Cannabis Crime&#8217;: Last Prisoner Project Urges President To Deliver On Promise</a></li>
</ul>
Photos via <a href="https://www.lastprisonerproject.org/last-prisoner-project-joins-25--congressmembers-in-joint-letter-urging-president-biden-to-invoke-clemency-powers">Last Prisoner Project</a>

Cannabis

67 Lawmakers Urge Biden To Grant Clemency To People Still In Jail For Cannabis Offenses

Innocan Pharma Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/INNPF#OTC">INNPF</a>), an Israel-based <a href="http://benzinga.com/cannabis">cannabinoids-focused</a> pharmaceutical company, reported a 174% year-over-year revenue growth, reaching $24 million for the first nine months of 2024. Quarterly revenues rose 111% YoY to $8.6 million, driven by robust sales from its subsidiary, BI Sky Global Ltd.
<h4 class="wp-block-heading">Q3 2024 Financial Highlights</h4>
<ul>
<li>Revenue was $8.6 million for the third quarter, up 111% year-over-year, and $24 million for the nine-month period, up 174% year-over-year.</li>
<li>Net income was $0.3 million, an increase of $2.1 million compared to a net loss of $1.8 million in Q3 2023.</li>
<li>Adjusted EBITDA was not stated in the press release.</li>
<li>Gross profit was $7.8 million for the third quarter, up 112% year-over-year.</li>
</ul>
Gross profit surged 183% YoY for the nine-month period, totaling $21.8 million, while Q3 gross profit grew 112% to $7.8 million. Operating profit turned positive, reaching $0.4 million, reversing a $1.2 million loss in Q3 2023.&nbsp;
Net profit also improved significantly, increasing by $2.1 million to $0.3 million for the quarter.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Management Commentary</h3>
Iris Bincovich, Innocan's CEO, attributed the strong performance to the company's dual focus on pharmaceutical innovation and wellness. She highlighted the company's progress in developing LPT-CBD, a proprietary non-opioid chronic pain management solution targeting both human and animal care. "Innocan is bringing strong value for shareholders," Bincovich <a href="https://www.newswire.ca/news-releases/innocan-pharma-reports-third-quarter-2024-financial-results-849241974.html">said</a>, emphasizing the company's commitment to addressing chronic pain.
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Roni Kamhi, of BI Sky Global and COO of Innocan Pharma, highlighted the company&#8217;s consistent growth. &#8220;We are pleased to report nine consecutive quarters of continuous revenue growth,&#8221; he stated. He credited new product launches and enhanced brand awareness for the success.
Innocan's financial gains underscore its strategic focus on innovation and market expansion, positioning the company as a rising player in the pharmaceutical sector. The company's results signal ongoing growth potential amid increasing demand for non-opioid pain management solutions.
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INNPF

Cannabinoid Leader Innocan Pharma's Q3: 174% YoY Revenue Growth

Last week was the 13F filings deadline at the SEC.
All stripes of money managers, from freshly minted mutual fund managers to hedge fund pros and patrician blue blood family offices, must send the Securities and Exchange Commission a list of every stock they owned at the end of the third quarter.
A simple comparison of this quarter&#8217;s filing to the last one shows what the best and brightest of Wall Street have been buying and selling recently.
The financial media and instant experts of the Internet have been all over the place in the last week, telling us what Warren Buffett, Cathie Wood, Michael Burry, Bill Ackman, and many other celebrity investors have been doing with their money recently.
It is undoubtedly a fun topic and occasionally interesting, but knowing what multi-gazillionaires are doing with their cash is not very useful for those of us still working to cobble together the first billion.
One of the most critical pieces of information from the quarterly filings is that most people who get paid to manage America&#8217;s money are mediocre at best.
What most do not realize is that this mediocrity is mostly intentional.
To be great, you must be different.
As Sir John Templeton pointed out, you cannot be great if you do what everyone else does.
Being different on Wall Street can get you fired.
Being a portfolio manager is a perfect job.
The easiest way to keep that job is to do what everybody else is doing.
That way, if something goes wrong, it is the market&#8217;s fault.
If you try to be great and something goes wrong, it is your fault.
The unemployment line beckons.
The trick to making money from the acts of idea piracy I perform every quarter is to dig deep and find those investors who dare to be different and are not managing so much money that mediocre is the best they can achieve.
One of the finest examples of that small handful of investors worthy of being raided is Glenn Greenberg of Brave Warriors Advisors.
The tale of Glenn Greenberg&#8217;s investing career is not a rags-to-riches tale by any stretch of the imagination.
His mother was the great-granddaughter of the founder of the Gimbels chain of department stores in New York.
While Gimbels closed in 1986, it was a major player in the retail industry for 144 years and is best known today (especially this time of year) for its role in &#8220;A Miracle on 34th Street.&#8221;
His father is Hall of Fame slugger Hank Greenberg, one of the greatest power hitters of all time. He helped lead the Detroit Tigers to two World Series titles.
Like many of the best investors, Glenn Greenberg did not take a traditional route to Wall Street. He got a degree in English from Yale University and followed that with a Master of Arts in Literature from New York University.
Then he went to Columbia and procured an MBA.
After completing his MBA in 1971, Greenberg joined Morgan Guaranty Trust&#8217;s Pension group as an analyst and portfolio manager, where he worked for five years. In 1978, he moved to Central-National Gottesman, collaborating with Arthur Ross and Edgar Wachenheim, two successful off-the-radar screen investors.
In 1984, Greenberg went out on his own with Chieftain Capital until 2010 when he outperformed the S&amp;P 500 by 50% annually.
He and his partner parted company, and Greenberg founded Brave Warrior Advisors.
The outperformance has continued at Brave Warrior as Greenberg has outperformed the indexes by a wide margin.
Greenberg uses a value-oriented philosophy and takes a handful of positions in companies he considers excellent businesses that can be purchased at attractive prices.
Like most fund managers, Greenberg holds stocks for years, not just months.
Idea pirates who owned the top ten stocks in the Brave Warrior Portfolio have done very well.
Greenberg was only adding shares of a handful of his holdings in the past quarter.
The largest addition was a new position in Ryanair Holdings (Ticker: RYAAY), the Dublin-based discount airline.
Ryanair is known for its high operating efficiency and strong market position. The airline currently offers over 3,600 flights to destinations in 340 cities worldwide.
Ryanair has ambitious growth plans and is targeting a 50% growth in passenger numbers by the end of the decade, supported by its growing fleet of fuel-efficient aircraft.
The airline&#8217;s strong balance sheet will allow it to manage the ebbs and flows of the global economy and air travel.
Coupled with its history of consistent profitability and a shareholder-friendly approach to capital returns, the company&#8217;s growth plans and strong balance sheet create the opportunity for massive long-term gains for patient, aggressive investors.
Brave Warrior was also buying more TD Synnex Corp (Ticker: SNX) shares. Synnex is a leading global distributor and solutions aggregator for the IT ecosystem, with over 150,000 customers in over 100 countries worldwide.
Synnex distributes products from over 2,500 vendors, including many in fast-growing marketplace segments like cloud, cybersecurity, big data/analytics, AI, IoT, mobility, and everything as a service.
Whoever the biggest winner in technology is going forward, there is a good chance Synnex will sell a significant percentage of the gear and equipment needed to reach their goals.
The firm&#8217;s third largest purchase is one of my favorite companies in one of my favorite industries.
We are not done using oil and gas.
We are not even close to being done.
We will need enormous amounts of both, especially natural gas, to fund the future of industry and technology.
It will all move through pipelines, terminals, processing centers, and other infrastructure.
Oil and gas companies will pay a fee to move their products through that infrastructure.
Much of that infrastructure is owned by MPLX (Ticker: MPLX), a publicly traded MLP.
They collect the fees and pay them out to shareholders as dividends.
The shares currently yield right around 7.5%.
The value of the assets they own and the cash they produce should increase over time.
A few years ago, I had a friend tell me they did not want to buy MLPs like MPLX because they hated dealing with K-1 forms at tax time.
Since then, he would have collected more than half the dividend purchase price, and the stock has almost tripled.
It would have been more profitable to pay the accountant.
Stealing ideas from Glenn Greenberg and his team may not be the most exciting thing you have ever done with your portfolio.
There is a good chance it could be the most profitable.

Opinion

MPLX

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Rep. Nancy Mace (R-SC), an outspoken&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/08/40590258/gop-congress-member-nancy-mace-they-havent-done-anything-slams-dnc-cannabis-inaction-calls-out-r">supporter of cannabis legalization</a> despite pushback from many in her party, has now become a single-gender bathroom warrior.
Mace&nbsp;introduced a resolution&nbsp;Monday to prohibit lawmakers and House employees from &#8220;using single-sex facilities other than those corresponding to their biological sex.&#8221; 
Speaking to reporters Tuesday, Mace said the move is meant to ban transgender women from using female bathrooms at the U.S. Capitol. Make that just one woman, at least for now: Delaware Congresswoman-elect, Sarah McBride, who will soon take her seat as the <a href="https://www.benzinga.com/news/24/11/41763854/sarah-mcbride-becomes-the-first-openly-transgender-us-congresswoman">first openly&nbsp;transgender person</a><a href="https://www.nbcnews.com/nbc-out/out-politics-and-policy/sarah-mcbride-first-transgender-congress-delaware-rcna177878">&nbsp;</a>in Congress.
&#8220;I'm absolutely 100% gonna stand in the way of any man who wants to be in a women's restroom, in our locker rooms, in our changing rooms. I will be there fighting you every step of the way,&#8221; said Mace, who <a href="https://www.benzinga.com/markets/cannabis/24/08/40590258/gop-congress-member-nancy-mace-they-havent-done-anything-slams-dnc-cannabis-inaction-calls-out-r">recently blasted</a> both the Dems and GOP for dragging their feet on cannabis reform.
Mace said she would like to see her bathroom bill incorporated into the House rules package for the next Congress, <a href="https://www.nbcnews.com/politics/congress/nancy-mace-defends-anti-trans-bathroom-bill-says-absolutely-targets-sa-rcna180805">reported</a> NBC News. 
<h2 class="wp-block-heading">Marjorie Taylor Greene Puts On Her Boxing Gloves</h2>
Georgia Rep. Marjorie Taylor Greene <a href="https://www.nbcnews.com/politics/congress/nancy-mace-defends-anti-trans-bathroom-bill-says-absolutely-targets-sa-rcna180805">said</a> Mace's legislation "doesn't go far enough." She indicated that she&#8217;d fight a transgender woman if she tried to barge into the woman's bathroom. Asked about the remark she purportedly made at a private House GOP conference meeting, Taylor Greene <a href="https://www.politico.com/live-updates/2024/11/19/congress/mtg-threatens-to-fight-transgender-woman-00190344">said</a> "It&#8217;s pretty aggressive for biological men to be invading our spaces."
<h2 class="wp-block-heading">Ms. McBride Responds</h2>
In an X&nbsp;post on Monday, McBride said, &#8220;Every day Americans go to work with people who have life journeys different than their own and engage with them respectfully, I hope members of Congress can muster that same kindness.&#8221; She added that she&#8217;s not in Congress to &#8220;fight about bathrooms. I'm here to fight for Delawareans and to bring down costs facing families.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Every day Americans go to work with people who have life journeys different than their own and engage with them respectfully, I hope members of Congress can muster that same kindness.
&mdash; Sarah McBride (@SarahEMcBride) <a href="https://twitter.com/SarahEMcBride/status/1858671704718868652?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">House Speaker Speaks</h2>
Meanwhile, House Speaker Mike Johnson (R-La.) issued&nbsp;<a href="https://mikejohnson.house.gov/news/documentsingle.aspx?DocumentID=1484">a statement</a>&nbsp;on Wednesday seeking to ban transgender women from women's restrooms and transgender men from men's restrooms throughout the Capitol and House office buildings.&nbsp;
&#8220;All single-sex facilities in the Capitol and House Office Buildings &#8211; such as restrooms, changing rooms, and lockers &#8211; are reserved for individuals of that biological sex,&#8221; Johnson wrote. &#8220;Women deserve women-only spaces.&#8221;
It&#8217;s not clear if the House policy will go into effect immediately or how it will be enforced, in view of the fact that there are transgender staffers and visitors in the Capitol complex on a daily basis.
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Photo: El Planteo

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Dave Ramsey is famously vocal about his hatred of car payments. He's said it repeatedly across his TikToks, books and radio show: car payments will keep you broke. His reasoning? They're the biggest monthly expense most people take on for something that loses value faster than almost anything else you own.
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Ramsey didn&#8217;t hold back in one of his more memorable TikToks: "I guarantee you'll be broke your whole life as long as you stay in car payments because it's the most expensive thing you buy that goes down in value." Cars, he points out, depreciate fast – losing up to 60% of their value in the first five years.
In another video, he points out that the average car payment in the U.S. is $507 a month for 84 months. Ramsey highlights what this money could do if you stop "screwing around with car payments." From age 30 to 70, that <a href="https://www.benzinga.com/personal-finance/24/11/42026823/this-is-how-you-get-wealthy-dave-ramsey-details-how-one-move-could-make-you-5-million-by-retirement">$507 invested monthly</a> would grow to $5.6 million.&nbsp;
Ramsey also draws on data from his <a href="https://www.benzinga.com/personal-finance/24/10/41146426/can-you-guess-the-top-5-careers-of-millionaires-according-to-dave-ramsey-spoiler-alert-theyre-no">extensive interviews with millionaires</a>, who he says are overwhelmingly against car loans. According to his research, 90% of millionaires haven't had a car payment in decades. Instead, they drive paid-off vehicles – typically four years old with around 41,000 miles.&nbsp;
He argues that the millionaires everyone envies skip payments, buy used cars outright and invest<a href="https://www.benzinga.com/personal-finance/24/08/40583428/you-cant-earn-your-way-out-of-stupidity-dave-ramsey-on-why-60k-earning-teachers-often-become-mil"> the difference</a>.
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In TikTok, he contrasts a home as "the most expensive thing people buy that goes up in value." The average annual rate of home price appreciation currently stands at 5.37%. This rate challenges Ramsey's frequently referenced "5-year rule," which advises buying a home only if you plan to stay there for at least five years. The current appreciation rate suggests that even shorter periods of homeownership could still lead to financial gains.
While Ramsey's point is compelling – there's no denying that car payments can eat into your ability to save and invest – it might be a little extreme to suggest that a car payment guarantees lifelong financial struggles. For many, a car isn't just a luxury … it's a necessity. Living without one simply isn't an option, depending on where you live or what you do for work. In these cases, the question isn't if you should have a car payment but how to manage it wisely.
Financial experts often recommend that your total transportation costs, including car payments, insurance and gas, shouldn't exceed 10% of your monthly income. By sticking to this guideline, you can balance the need for a reliable vehicle without derailing your financial goals.
While it's true that cars lose value rapidly – unlike appreciating assets such as homes – finding a balance is key. Ramsey's focus on avoiding car payments might work for some, but life often requires flexibility. Financing a car with a low-interest rate could make sense in certain situations, especially if it <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">prevents draining your savings</a>. Despite Ramsey&#8217;s guarantee, not everyone with a car payment will stay broke forever.&nbsp;
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Dave Ramsey Guarantees If You Have A Car Payment, 'You Will Be Broke Your Whole Life' – Here's How He Says You Can Become Rich

University Of California Merced Extension is launching a cannabis workforce <a href="https://themercedfocus.org/classes-for-cannabis-uc-merced-extension-launching-weed-workforce-training/">training program</a>, opening new opportunities in the Central Valley&#8217;s growing cannabis sector. The program, developed in collaboration with Ventura-based Green Flower, offers three online, 9-week courses tailored to prepare individuals for key roles in the industry.
The certificates available include Retail Specialist, Cultivation Specialist and Extraction and Product Development Specialist.
"It really was an opportunity that we felt we could meet," <a href="https://themercedfocus.org/classes-for-cannabis-uc-merced-extension-launching-weed-workforce-training/">said</a> Michael Pierick, who is UC Merced Extension's director of strategic initiatives, to The Merced Focus.
That&#8217;s because the program addresses a regional gap in <a href="https://www.benzinga.com/topic/cannabis-education">cannabis education</a>, with Merced County's industry still emerging compared to urban hubs like Sacramento and the Bay Area. 
By offering these certifications, UC Merced aims to equip participants with the skills needed to thrive in a &#8220;very competitive and very complex&#8221; industry as depicted by Max Simon, CEO of Green Flower.
Classes are led by Green Flower facilitators and the curriculum includes essential aspects of cannabis operations, from retail management to cultivation and product development.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39653122/u-s-jobs-surge-in-june-can-cannabis-keep-up-salaries-might-tempt-you-to-switch-careers">U.S. Jobs Surge In June, Can Cannabis Keep Up? Salaries Might Tempt You To Switch Careers</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">Cannabis Industry Job Demand</h3>
The legal cannabis industry<a href="https://www.benzinga.com/markets/cannabis/24/04/38183087/cannabis-industry-has-created-nearly-half-a-million-full-time-jobs-new-report-reveals-which-stat"> added 22,952</a> <a href="https://www.benzinga.com/markets/cannabis/24/04/38183087/cannabis-industry-has-created-nearly-half-a-million-full-time-jobs-new-report-reveals-which-stat">jobs</a> in the U.S. in the past year, a 5.4% increase compared with 2022, bringing total employment to 440,445. 
This growth reflects the industry&#8217;s evolution, with 2024 marking a &#8220;turning point&#8221; for hiring and investment in talent. 
Michigan and Missouri led job growth, each adding over 10,000 jobs, while states like California and Colorado saw losses. Emerging markets in Ohio, New York, New Jersey and Maryland show significant potential, with New York adding 2,050 jobs and New Jersey 4,870.
As for salaries, the <a href="https://www.benzinga.com/markets/cannabis/24/07/39653122/u-s-jobs-surge-in-june-can-cannabis-keep-up-salaries-might-tempt-you-to-switch-careers">Vangst 2024 Salary Guide</a> reports a 4.7% increase in top cannabis salaries over the past year, with Directors of Cultivation earning between $90,000 and $140,000 annually and Budtenders earning $14 to $22 per hour.
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<li>Read More: <a href="https://www.benzinga.com/markets/cannabis/24/09/40804667/cannabis-hiring-platform-vangst-predicts-1m-full-time-marijuana-jobs-by-2029-announces-acquisiti">Cannabis Hiring Platform Vangst Predicts 1M Full-Time Marijuana Jobs By 2029, Announces Acquisition Of GreenForce Staffing Agency</a></li>
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Cover: UC Merced

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Rumble shares are trading higher after CEO Chris Pavlovski on social media suggested an upcoming development regarding a 'Big creator.'

Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) is up 10% on the day and closing in on its all-time high as new Solana spot ETF filings indicate <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40470226/solana-etf-approval-in-2024-has-only-a-6-chance-a-snowballs-chance-in-hell-etf-analyst-say">continued institutional interest.</a>
What Happened: Eleanor Terrett of Fox Business on Thursday tweeted that the SEC is reportedly engaging with issuers interested in launching a Solana spot ETF, with progress being made on S-1 applications, citing <a href="https://x.com/EleanorTerrett/status/1859611713579999366">sources</a> familiar with the matter.
Issuers like <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39598039/vanecks-solana-etf-proposal-dependent-on-trumps-presidential-win-matthew-sigel-confirms">VanEck</a>, 21Shares and Canary Funds have already filed S-1s, while Bitwise recently announced its intent to do so. 
Exchanges like <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39679535/solana-jumps-5-5-as-cboe-files-application-with-sec-to-list-vaneck-21shares-spot-etfs">Cboe Global Markets</a> (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) are expected to submit 19b4 filings on behalf of these issuers soon, a key step in seeking SEC approval to list these ETFs.
Once filed, the SEC has 240 days to approve or deny the products. However, the filing of the 19b4's does not guarantee an approval by the SEC.
While prior 19b4 filings for similar products were <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40454074/solana-a-security-sec-concerns-reportedly-led-to-pause-in-etf-filing-process">withdrawn</a>, industry optimism is growing due to increased SEC engagement and the potential for a more <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42098407/donald-trump-reportedly-eyeing-the-first-crypto-focused-role-in-the-white-house">pro-crypto regulatory stance </a>under the incoming administration. 
A decision on a Solana ETF could come as early as 2025 and be made by the successor of current SEC Chair Gary Gensler, who <a href="https://www.benzinga.com/government/regulations/24/11/42120607/gary-gensler-to-step-down-as-sec-chair-on-trumps-inauguration-day">announced his resignation</a> effective January 20, 2025.
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Trader Notes: Crypto trader Cold Blooded Shiller emphasized that Solana has climbed 35% since his initial recommendation during its consolidation phase. 
After five months of sideways price action within a high-timeframe range, the recent rally has renewed <a href="https://x.com/ColdBloodShill/status/1859613566447354322">his</a> optimism for a $500 price target.
Veteran trader Jacob Canfield pointed out that Solana's current levels are nearing its all-time highs, praising its resilience. 
Despite being declared "dead" numerous times, Solana has surged from $8 to its current levels, proving skeptics wrong.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> &#8211; All time highs are so close you can almost taste them. What a run from $8 and being declared &quot;dead&#39; about 5,000 times. <a href="https://t.co/fmHyRpk10c">pic.twitter.com/fmHyRpk10c</a>
&mdash; Jacob Canfield (@JacobCanfield) <a href="https://twitter.com/JacobCanfield/status/1859616013853044899?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
DefiLlama data highlights Solana's growing momentum, with its total value locked (TVL) reaching $8.6 billion—the highest since November 2021. Revenue is also at an all-time high, hitting $5.9 million.
Price Action: Solana is up 10% on the day, trading around $256 at the time of writing. It has reached a new all-time high market capitalization of over $120 billion.
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Image: Shutterstock

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CIMG Secures Distribution Agreements To Sell Maca Noni Beverage In 550 Lawson Stores And Targets Expansion To 25,000 uSmile PetroChina Locations, 400 Guangdong Petroleum Stores, And 129 Chengdu Energy Gas Stations Over Three Years

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