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Tesla and SpaceX CEO Elon Musk has announced the timeline for the chatbot <a href="https://www.benzinga.com/news/24/05/39027735/elon-musks-xai-raises-6b-heres-where-it-stands-against-openai-anthropic-and-other-ai-rivals">models of his AI company</a> xAI scheduled to be released later this year.
What Happened: On Monday, while speaking with Dr. Jordan B. Peterson at his <a href="https://www.benzinga.com/news/24/06/39404789/drone-footage-reveals-tesla-giga-texas-expansion-work-to-house-50-000-nvidia-gpus-ceo-elon-musk-says">Gigafactory in Texas</a>, Musk said that Grok 2 has &#8220;finished training&#8221; and is now in the bug-fixing stage. The official release is planned for next month.
&#8220;It should be on par, or close to GPT-4,&#8221; he said, comparing Grok 2&#8217;s capabilities with OpenAI&#8217;s model. The tech billionaire <a href="https://www.benzinga.com/news/24/05/38862733/openai-chief-scientist-that-quit-months-after-participating-in-coup-against-sam-altman-likely-to-joi">co-founded OpenAI</a> in 2015 and left the startup in 2018 over some differences. 
The tech mogul went on to say that Grok 3 is currently being trained at the Memphis Data Center and is expected to be released by December.
See Also: <a href="https://www.benzinga.com/news/24/07/39855896/how-to-fix-crowdstrike-issue-causing-blue-screen-of-death-on-your-windows-pc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Fix CrowdStrike Issue Causing Blue Screen Of Death On Your Windows PC</a>
&#8220;What we're doing in the Memphis Data Center is we're actually training Grok 3. So that'll probably finish training in about three or four months and then there'll be some fine-tuning and bug fixing and whatnot. And we're hoping to release Grok 3 by December,&#8221; he stated, adding, &#8220;And Grok 3 should be the most powerful AI in the world at that point.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My conversation with <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>. Live today at 3pm ET. <a href="https://t.co/RyaZFmvC8i">https://t.co/RyaZFmvC8i</a>
&mdash; Dr Jordan B Peterson (@jordanbpeterson) <a href="https://twitter.com/jordanbpeterson/status/1815427698703090085?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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Why It Matters: Musk&#8217;s AI company, xAI, has made significant strides in enhancing Grok. In May earlier it was reported that xAI plans to integrate multimodal inputs into Grok, allowing users to <a href="https://www.benzinga.com/news/24/05/38957813/elon-musks-xai-to-equip-grok-with-multimodal-ai-users-can-soon-get-text-based-answers-for-uploaded-p">upload images and receive text-based</a> responses.
Earlier this month, Musk disclosed that <a href="https://www.benzinga.com/news/24/07/39594885/elon-musk-reveals-the-staggering-amount-of-nvidia-h100-gpus-that-will-be-used-to-train-xai-chatbot-g">Grok 3 would be trained on</a> a massive 100,000 Nvidia H100 chips. These chips are crucial for handling data processing in large language models (LLMs) and are highly sought after in Silicon Valley.
The tech billionaire has also been using Grok to make fun of his adversaries and competitors. He previously used the AI <a href="https://www.benzinga.com/news/24/05/39004738/elon-musk-uses-grok-to-throw-shade-at-googles-fumbling-ai-powered-search-how-many-rocks-should-i-eat">platform to critique</a> Google&#8217;s AI-powered search feature, which was receiving backlash from users over <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">its poor performance</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Days After Elon Musk Deemed University Of Tokyo&#8217;s Idea &#8216;Pointless,&#8217; Scientists Develop Smiling Robot With Living Skin</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Tech

TSLA

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

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

Politics

General

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

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

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

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

Equities

ARKF

ARKW

CRWD

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

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

Education

Global

Media

AMZN

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

In a speech at the Democratic campaign headquarters, Vice President Kamala Harris confidently expressed her readiness to confront Donald Trump, drawing on her prosecutorial experience and outlining her vision for the country.
What Happened: As reported by Reuters on Thursday, Harris thanked President Joe Biden and confirmed Jen O&#8217;Malley Dillon and Julie Chavez Rodriguez would continue as campaign heads. 
She drew a contrast between her vision and Trump&#8217;s regressive approach, stating, &#8220;I took on perpetrators of all kinds. Predators who abused women, fraudsters who ripped off consumers, cheaters who broke the rules for their own gain. So hear me when I say I know Donald Trump&#8217;s type.&#8221;
Harris warned of potential actions by Trump, including a national abortion ban, and asked the audience about their vision for the country. She championed a future of freedom, compassion, and rule of law over chaos, fear, and hate. She concluded her speech with a call to action, asking, &#8220;Are you ready to get to work?&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: First Poll After Biden&#8217;s Exit Shows Majority Approve Of Decision, But Here&#8217;s How It Might Affect Ex-President&#8217;s Chances</a>
Why It Matters: Harris&#8217;s assertive stance comes in the wake of President Biden&#8217;s unexpected <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">decision to withdraw</a> from the 2024 presidential race. Trump <a href="https://www.benzinga.com/news/24/07/39875181/trump-wants-republicans-reimbursed-after-biden-quits-we-have-to-start-all-over-again">questioned Biden&#8217;s withdrawal</a> and suggested the Republican Party should be compensated for the sudden change.
California Governor Gavin Newsom has <a href="https://www.benzinga.com/news/24/07/39875041/gavin-newsom-backs-kamala-harris-calls-vp-tough-fearless-and-tenacious-the-ideal-candidate-to-counte">publicly endorsed Harris</a> for the upcoming presidential race, calling her &#8220;tough&#8221;, &#8220;fearless&#8221;, and &#8220;tenacious&#8221;. Harris, a former U.S. Senator from California, is seen as the party's top choice to succeed President Biden.
Harris has previously <a href="https://www.benzinga.com/news/24/01/36728971/kamala-harris-blames-trump-for-supreme-courts-reversal-on-roe-v-wade-he-is-proud-that-women-have-bee">blamed Trump</a> for the Supreme Court&#8217;s reversal on Roe V. Wade, connecting the introduction of new stringent abortion laws to his actions.
Photo: Lev Radin via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39870306/biden-claps-back-after-trumps-ev-mandate-comments-at-rnc-what-the-hell-was-he-talking-about?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Claps Back After Trump&#8217;s EV &#8216;Mandate&#8217; Comments At RNC: &#8216;What The Hell Was He Talking About?&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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

When passion fuels our actions sometimes we can take things too far. Brian Thomas Borland, a 68-year-old marijuana enthusiast did just that when he told a jury to find him guilty of cannabis charges.
What happened: Borland, a well-known cannabis advocate in Northland, New Zealand was on a trial after police discovered two cannabis grow sites and about 100 plants, <a href="https://www.rnz.co.nz/news/national/522677/cannabis-advocate-brian-borland-tells-jury-to-find-him-guilty" target="_blank" rel="noreferrer noopener">writes</a> RNZ. He faced charges related to cannabis cultivation and dealing marijuana on two properties on separate occasions.
"You have no choice but to find me guilty, " he told the jury, arguing that "Everyone should have the right to grow their own cannabis if they wish."
He stressed the need for changes in the law."Why I took these actions was simply to defy the law."
After 11 minutes of deliberation, the jury reached a verdict: Guilty.
After all, the jury was following the law, and as lawyer Pablo Hambler said in a closing statement there was no question as the whether he broke the law. "You may be sympathetic towards his position but this is not a case of what the law should be or what Borland might like it to be," Hambler said. "The law of cultivating and selling it to other people is illegal."
Read Also: <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/06/39320186/22-8m-europeans-used-weed-last-year-german-university-launches-marijuana-cultivation-course-and-" rel="noreferrer noopener">UK Man Who Went To Prison 4 Times For Running Cannabis Cafe Is Back In The Game</a>
50 Years In Cannabis, Not The First Charge
Borland faced charges, but didn't stop there. In January 2023, he launched a business and a Facebook page openly marketing the sale of cannabis and seeds. The police found 52 plants and more than 600 grams of cannabis, and he was charged. He then pleaded not guilty, saying the cannabis was meant for clients with medical needs.
Borland confirmed he&#8217;d been in the cannabis business for about 50 years, seven of which he spent in prison. This time, he used the closing statement to make a make a statement – opposition to cannabis laws.
"Not all our laws are fair and the judiciary has a moral and ethical obligation to ensure the laws they administer are fair and just. Cannabis laws are not fair and all they are doing are protecting medical companies that sell an inferior product," he told the jury.
The judge tried to reason with him, saying he understood his moral stand, but advised him to rethink how would it be to go to prison, especially as an older man. "It seems to be a waste of a life but it's entirely up to you, you seem to be making a martyr of yourself."
"I just have to do what I have to do," Borland said.
He is still waiting for the sentence.
Read more on <a target="_blank" href="https://www.rnz.co.nz/news/national/522677/cannabis-advocate-brian-borland-tells-jury-to-find-him-guilty" rel="noreferrer noopener">RNZ</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t" target="_blank" rel="noreferrer noopener">Joe Biden Drops Out: What Would Happen With Cannabis Legalization Under Kamala Harris Or Donald Trump?</a></li>
</ul>
Photo: Courtesy of H_Ko via Shutterstock

Cannabis

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

KITT

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

KITTW

In Japan, a nation known for its <a href="https://www.benzinga.com/markets/cannabis/23/12/36107955/japan-approves-marijuana-derived-medicines-adopt-7-year-prison-sentences-for-recreational-use" target="_blank" rel="noreferrer noopener">stringent stance on drugs</a>, Ryujiro Oyabu, a 52-year-old pottery artist, is making headlines with a court case that could potentially impact the country&#8217;s approach to <a href="http://benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">cannabis</a>. Oyabu, arrested in August 2021 with three grams of marijuana, is contesting Japan&#8217;s harsh cannabis laws, rooted in post-World War II American occupation policies.
<h3 class="wp-block-heading">Oyabu&#8217;s Arrest Exposes Japan&#8217;s Cultural Stigma</h3>
Oyabu&#8217;s legal journey began after a traffic stop led to his arrest and a three-week stint in a small jail cell, exacerbating his claustrophobia, <a href="https://inews.co.uk/news/world/cannabis-court-case-japan-zero-tolerance-drugs-test-3166758" target="_blank" rel="noreferrer noopener">reports</a> i News. &#8220;Japan is different from Western culture. Honesty is the most important value for the Japanese. Punishment isn't as important as shame – anyone who uses illegal drugs, he is not that human,&#8221; noted Shinichi Ishizuka, a criminologist from Ryukoku University.
<h3 class="wp-block-heading">Appeal Challenges Japan&#8217;s Cannabis Ban</h3>
The court initially dismissed Oyabu&#8217;s argument that the ban was unconstitutional, sentencing him to six months, suspended for three years. Unyielding, Oyabu has appealed, challenging the government to provide scientific evidence of marijuana&#8217;s dangers under new laws that acknowledge its medicinal use. &#8220;If that is the case, the government needs to scientifically demonstrate the harmfulness of THC,&#8221; stated journalist Hideo Nagayosh according to i News.
This case emerges amidst a broader global trend toward relaxing marijuana laws, with recent changes in countries like <a href="https://www.benzinga.com/markets/cannabis/24/06/39140974/mexicos-first-female-president-supports-cannabis-will-claudia-sheinbaum-legalize-marihuana" target="_blank" rel="noreferrer noopener">Mexico</a>, <a href="https://www.benzinga.com/markets/cannabis/24/06/39493683/brazils-supreme-court-decriminalizes-cannabis-possession-for-personal-use" target="_blank" rel="noreferrer noopener">Brazil</a>, <a href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" target="_blank" rel="noreferrer noopener">Germany</a>, <a href="https://www.benzinga.com/markets/cannabis/24/07/39824908/south-african-companies-prepare-for-new-cannabis-regulations-experts-expect-lots-of-fundraising-" target="_blank" rel="noreferrer noopener">South Africa</a> and <a href="https://www.benzinga.com/markets/cannabis/24/02/36941500/spains-medical-marijuana-law-to-function-soon-first-cannabis-club-in-malta-more-euro-weed-update">Malta</a>. i News noted Oyabu&#8217;s struggle has mobilized Japan&#8217;s nascent cannabis community, many of whom attended hearings to support him.
<h3 class="wp-block-heading">Cannabis&#8217; Deep Roots In Shinto Rituals In Japan</h3>
The cultural significance of cannabis in <a href="https://www.benzinga.com/topic/japan-cannabis" target="_blank" rel="noreferrer noopener">Japan</a> is linked to Shinto, its national religion. At the Taima Hakubutsukan (Cannabis Museum), curator Junichi Takayasu showcases hemp&#8217;s historical role in Shinto rituals, emphasizing its deep-rooted cultural relevance. &#8220;Without cannabis, Shintō rituals cannot be held,&#8221; Takayasu explains, pointing to an important facet of Japanese tradition.
<h3 class="wp-block-heading">Japan&#8217;s Evolving Cannabis Landscape</h3>
Amidst these cultural and legal upheavals, Japan's National Police Agency recently reported that in 2023, the country <a href="https://www.benzinga.com/markets/cannabis/24/03/37907388/cannabis-arrests-in-japan-hit-record-high-australias-hemp-sector-faces-setback-moroccos-294-ton-" target="_blank" rel="noreferrer noopener">recorded a historic surge in cannabis-related criminal cases</a>. Alarmingly, young people represented over 70% of these cases. This rise in cannabis cases now outnumber stimulant drug offenses, reflecting changing drug use trends in Japan.
The Japanese government initiated a public comment period in late May on a cannabis reform bill that <a href="https://www.benzinga.com/markets/cannabis/24/06/39140255/japan-could-become-first-to-allow-cbd-in-food-thailands-medical-marijuana-costs-increase-6x-trig" target="_blank" rel="noreferrer noopener">includes proposals such as loosening restrictions on CBD in food products</a>. If passed, Japan could become the first country to legalize CBD in food. This move, along with the government&#8217;s recent expansion of access to <a href="http://benzinga.com/topic/medical-cannabis" target="_blank" rel="noreferrer noopener">medical marijuana,</a> could indicate a potential softening of Japan&#8217;s historically strict cannabis regulations.
Read <a href="https://inews.co.uk/news/world/cannabis-court-case-japan-zero-tolerance-drugs-test-3166758" target="_blank" rel="noreferrer noopener">more</a> at i News.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t" target="_blank" rel="noreferrer noopener">Joe Biden Drops Out: What Would Happen With Cannabis Legalization Under Kamala Harris Or Donald Trump?</a></li>
</ul>
Photo: Courtesy of RODNAE Productionsby Pexels.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

Asia

Government

Regulations

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

Vice President Kamala Harris is the current frontrunner to be the Democratic Party's nominee in the 2024 presidential election after President Joe Biden <a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp">withdrew from the race.</a>
Harris could set several firsts if she wins the presidency including the first woman president, an item that may have been predicted by "The Simpsons."
What Happened: Animated series "The Simpsons," which airs on Fox Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) network FOX has had years of coincidentally predicting world events.
Among the wild predictions are the merger of Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Fox, the bailout of Greece, the invention of FaceTime, the introduction of autocorrect, FIFA corruption, the U.S. Men's curling team winning a gold medal, and Donald Trump becoming president of the U.S.
Recent predictions that may have come true include predicting Elon Musk <a href="https://www.benzinga.com/general/entertainment/22/11/29876033/did-the-simpsons-predict-elon-musk-buying-twitter-this-2015-episode-may-have-been-prophetic">would acquire Twitter, </a>the collapse of Silicon Valley Bank and the <a href="https://www.benzinga.com/general/entertainment/23/06/32976792/did-the-simpsons-predict-the-titanic-sub-disaster-a-17-year-old-episode-goes-viral">tragedy of the submersible vessel</a> traveling to the Titanic wreckage.
A new Simpsons prophecy is going viral with news of Biden dropping out of the race, helping to elevate the status of the long-running animated series now owned by Disney.
The March 19, 2000, episode titled "Bart to the Future" features a flash forward for the Simpson family. In the episode, Lisa Simpson is the first woman president of the U.S. and she enters the White House taking over for President Trump.
"As you know, we've inherited quite a budget crunch from President Trump," Simpson says in the episode.
The episode is set in the future, estimated to be in 2030 according to Simpsons Wiki, and while Harris wouldn't follow directly after Trump, her presidency would come after he was in the White House and a recent memory.
Simpsons screenwriter Al Jean said Sunday he was proud of the potential "prediction" made by "The Simpsons."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/TheSimpsons?ref_src=twsrc%5Etfw">@TheSimpsons</a> "prediction" I'm proud to be a part of. <a href="https://t.co/ZvkqotRpsn">pic.twitter.com/ZvkqotRpsn</a>
&mdash; Al Jean (@AlJean) <a href="https://twitter.com/AlJean/status/1815107357669834777?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Known for predicting future events, the prediction of Trump as president may be one of the show's wildest.
"We predicted that he would be president back in 2000 — but (Trump) was, of course, the most absurd placeholder joke name that we could think of at the time, and that's still true. It's beyond satire," Simpsons creator Matt Groening told the Guardian in a 2016 <a href="https://www.theguardian.com/tv-and-radio/2016/oct/13/the-simpsons-matt-groening-president-trump-its-beyond-satire-first-dog">interview</a>.
"The Simpsons" episode has gone viral in past years when Hillary Clinton ran against Donald Trump in the 2016 presidential election.
The 2021 inauguration of President Joe Biden also saw Harris wear a similar outfit to Simpson's in the episode, also causing the episode to go viral.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36938351/apple-vision-pro-predicted-by-the-simpsons-heres-the-episode-highlighting-vr-headse">Apple Vision Pro Predicted By &#8216;The Simpsons&#8217;? Here&#8217;s The Episode Highlighting VR Headsets</a>
Why It's Important: While the potential prediction made by "The Simpsons" stands out, there could be several other entertainment connections to Biden dropping out of the race and Harris becoming the potential president.
A previous episode of "Veep," which starred Julia Louis-Dreyfus as Vice President Selina Meyer highlighted a similar storyline.
"I'm not leaving. POTUS is leaving. He's not going to run for a second term. I'm gonna run. I'm gonna run for president!" Meyer says in an episode.
On the show, Meyer becomes the first woman president in American history.
Biden is the first president since 1968 not to run for re-election in a presidential election.
"Veep" creator Armando Iannucci commented on X posts drawing parallels to the show and Biden stepping down.
"Still working on the ending," Iannucci said to one user saying the show predicts "our political reality,&#8221; as <a href="https://www.independent.co.uk/arts-entertainment/tv/news/veep-joe-biden-julia-louis-dreyfus-b2583667.html#:~:text=Following%20news%20of%20Biden's%20exit,POTUS%20is%20leaving.">reported </a>by The Independent. 
Hit movie "Barbie," which was the top-grossing film of 2023, also went viral on Sunday thanks to a potential connection and the timing of Biden's announcement.
In "Barbie," President Barbie is played by Issa Rae, a black woman. The movie from Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) was released in theaters on July 21, 2023, exactly one year before Biden stepped down and Harris became the potential presidential candidate.
Harris could become the first woman, first Black American woman and first South Asian American if she goes on to win the 2024 election.
While these shows and movies are fictional, the potential predictions can't help but get people excited about possibly becoming true.
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Photos: &#8220;The Simpsons,&#8221; via IMDb, Harris via Shutterstock

Entertainment

FOXA

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

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

Sports

$BTC

MSTR

Winklevoss-Backed Real Bedford Soccer Club Embraces Michael Saylor Bitcoin Philosophy, Accumulates 82.7 BTC

The cannabis market saw a surge that waned by Friday, with the AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) falling by 2.50% over the week, and the Global X Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>) <a href="https://www.benzinga.com/cannabis">dropping 1.73%.</a>
<h3 class="wp-block-heading">Ascend's Financial Restructuring </h3>
One notable bright spot was Ascend Wellness Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAWH#OTC">AAWH</a>), which experienced a robust rally of 12.18% following the announcement of its debt refinancing plan. 
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39890121/cannabis-stocks-surge-then-plummet-on-news-that-biden-is-bowing-out-of-2024-presidential-race">Cannabis Stocks Surge Then Plummet On News That Biden Is Bowing Out Of 2024 Presidential Race</a>
Jesse Redmond, an analyst from Water Tower Research, reported: &#8220;Ascend announced on Monday it successfully refinanced its debt. The new senior secured notes were priced at 94.75% of face value, have a 12.7% interest rate, and are due in 2029." 
He added that "the net proceeds of the notes, together with cash on hand, will be used to prepay $215 million of principal amounts outstanding under its existing term loan."
<h3 class="wp-block-heading">Jushi Faces Decline Amid Market Fluctuations</h3>
Conversely, Jushi Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JUSHF#OTC">JUSHF</a>) saw the most significant loss among major cannabis stocks, dropping by 9.84%. The decline reflects broader market uncertainties and investor reactions to the latest financial reports and industry developments.
<h3 class="wp-block-heading">Cannabis Rescheduling And Political Developments</h3>
The cannabis rescheduling comment period is set to conclude on Monday, July 22, with industry stakeholders eagerly awaiting the response from the Drug Enforcement Administration (DEA). 
Jesse Redmond notes: "We are eager to find out if the DEA Administrator will grant a hearing and how long it will take to respond to comments." 
The upcoming elections and the Democratic National Convention, commencing on August 19, could play pivotal roles in the rescheduling process. Given the political dynamics, there is speculation that DEA Administrator Anne Milgram might expedite the review process.
<h3 class="wp-block-heading">Political Influences On Cannabis Legislation</h3>
In a significant political development, <a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t" target="_blank" rel="noreferrer noopener">President Joe Biden announced Sunday</a> that he will not seek re-election. VP Kamala Harris will replace Biden at the top of the Democratic ticket and Ohio Senator J.D. Vance was chosen to be Donald Trump&#8217;s running mate. 
Vance, known for his support of states&#8217; rights to regulate cannabis and opposition to incarcerating individuals for minor cannabis offenses, presents a mixed record on cannabis reform.
Notably, he voted against the Secure and Fair Enforcement (SAFE) Banking Act, citing specific concerns rather than outright opposition to the bill. &#8220;Vance's SAFER objections were about a specific issue, and he does not appear to be broadly against the bill,&#8221; Redmond explains.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39890659/kamala-harris-u-turn-on-cannabis-heres-where-she-stands-on-weed-legalization-now">Kamala Harris&#8217; U-Turn On Cannabis: Here&#8217;s Where She Stands On Weed Legalization Now</a></li>
</ul>

AAWH

JUSHI HLDGS INC CL B by Jushi Holdings Inc.

JUSHF

MSOS

YOLO

'Opaque Political Processes,' DEA Rescheduling Deadline, And Now A New Presidential Candidate, It's No Wonder Cannabis Stocks Are Over The Place

Despite being the father to presidential candidate, Vice President Kamala Harris, Donald J. Harris&#8216; low profile is belied by the fact that he is a <a href="https://www.benzinga.com/topic/economics">prominent economic scholar</a>.
Who is Donald J. Harris?: Harris was <a href="https://www.blackpast.org/african-american-history/donald-jasper-harris-1938/">born</a> in Jamaica in 1938, growing up in St. Ann Parish before studying at the University College of the West Indies. He earned his Ph.D. from the University of California, Berkeley in 1966 where he met his future wife Shyamala Gopalan.
Harris and Gopalan had two children: Kamala and Maya, an attorney. They divorced in 1971. Harris was separated from his daughters in the subsequent custody hearings, <a href="https://www.jamaicaglobalonline.com/kamala-harris-jamaican-heritage/">according</a> to his 2018 essay.
&#8220;Nevertheless, I persisted, never giving up on my love for my children or reneging on my responsibilities as their father,&#8221; he wrote.
Harris became the first tenured Black professor at Stanford University in 1976. He wrote several books, including &#8220;Capital Accumulation and Income Distribution,&#8221; published in 1978. He retired in 1998 and <a href="https://economics.stanford.edu/people/donald-j-harris">holds</a> the title of Professor Emeritus.
<a href="https://web.stanford.edu/~dharris/professional_career.htm">According</a> to his Stanford bio, &#8220;His research and publications have centered on exploring the analytical conception of the process of capital accumulation and its implications for a theory of growth of the economy, with the aim of providing thereby an explanation of the intrinsic character of growth as a process of uneven development.&#8221;
He was <a href="https://archives.stanforddaily.com/1976/11/03?page=4§ion=MODSMD_ARTICLE11">labeled</a> a &#8220;Marxist scholar&#8221; by the Stanford Daily in 1976. Harris is a &#8220;post-Keynesian.&#8221;
Harris&#8217; relative obscurity is perhaps due to Kamala Harris&#8217; infrequent mentions of him relative to other members of her family. The New York Times <a href="https://www.nytimes.com/article/kamala-harris-dad-don-harris.html">noted</a> that Kamala Harris did not mention her father when she formally accepted the vice-presidential nomination. She mentions her mother, Shyamala, more frequently.
Also Read:
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<li><a href="https://www.benzinga.com/general/politics/24/07/39889666/kamala-harris-on-ai-tiktok-and-big-tech-breakups-privacy-is-not-being-compromised">Kamala Harris On AI, TikTok And Big Tech Breakups: &#8216;Privacy Is Not Being Compromised&#8217;</a></li>
</ul>
Photo: Lev Radin via Shutterstock

Economics

Who Is Kamala Harris' Father, Stanford Economist Donald J. Harris?

The cannabis sector witnessed significant movement&nbsp;today, with varied performances across key stocks and ETFs following<a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t"> President Joe Biden&rsquo;s Sunday&nbsp;announcement</a> that he will not seek re-election. The news&nbsp;created ripples in the market, reflecting investor sentiment and speculation about future <a href="https://www.benzinga.com/markets/cannabis/24/07/39866755/trump-accepts-gop-nomination-as-party-begins-to-embrace-cannabis-legalization-says-republican-co">regulatory changes</a>.
<h3>Biggest Winners</h3>
<ul>
<li>Aurora Cannabis (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>): Increased by 9.04% to $6.02. Positive sentiment is driven by strategic partnerships.</li>
<li>Village Farms International (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vff#NASDAQ">VFF</a>): Rose by 7.41% to $1.09. The stock benefited from operational efficiency news.</li>
<li>Tilray Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>): Saw a rise of 6.70% to $1.87. Investor optimism on future growth prospects in Germany.</li>
<li>SNDL (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>): Experienced an increase of 9.66% to $2.22. Strong earnings and cash flow, reports boosted the stock.</li>
<li>Medicine Man Technologies (OTC: <a class="ticker" href="https://www.benzinga.com/stock/shwz#OTC">SHWZ</a>): Saw a remarkable gain of 100.00% to $0.30.</li>
<li>OrganiGram Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ogi#NASDAQ">OGI</a>): Rose by 6.67% to $1.74.</li>
<li>Innovative Industrial Properties (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iipr#NASDAQ">IIPR</a>): Gained 1.56% to $120.13. Stable financial performance attracted investors.</li>
<li>Cronos Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cron#NASDAQ">CRON</a>): Increased by 3.78% to $2.45.</li>
<li>Canopy Growth (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>): Increased by 16.7% to $7.84.</li>
</ul>
<h3>Multi-State Cannabis Operators In The USA</h3>
<ul>
<li>Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>): Increased by 3.13% to $4.28.</li>
<li>Jushi Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jushf#OTC">JUSHF</a>): Up by 7.27% to $0.59.</li>
<li>Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>): Was up by 4.04% to $11.60.</li>
<li>Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>): Was also up, at the last minute, by 3.78% to $10.75.</li>
<li>Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>): Rose by 6.42% to $1.74.</li>
</ul>
<h3>Performance Of Cannabis ETFs</h3>
<ul>
<li>AdvisorShares Pure Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yolo#NYSE">YOLO</a>): Rose by 4.84% to $3.58.</li>
<li>AdvisorShares Pure US Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msos#NYSE">MSOS</a>): Experienced a gain of 5.67% to $7.83. Increased activity and positive sentiment drove the ETF higher.</li>
</ul>
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39369432/what-is-the-trump-factor-justice-depts-impact-on-cannabis-rescheduling-stocks-and-i">What Is The Trump Factor? Justice Dept&#39;s Impact On Cannabis Rescheduling, Stocks And Investments</a>
These issues will be among the hot topics at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;
Disclosure: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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TLRY

Cannabis Stocks React To Biden Announcement: Monday's Closing Market Moves

Acima seeks to halt what it contends is the CFPB&#39;s illegal attempt to expand its authority as limited by federal law and usurp the long-standing, comprehensive state regulatory framework governing the lease-to-own industry.

Legal

UPBD

Upbound Business Acima Leasing Files Lawsuit Against US Consumer Financial Protection Bureau In District Court For The Eastern District Of Texas

The registration statement for BlackRock's iShares Ethereum Trust ETF (ETHA), has been declared effective by the U.S. Securities and Exchange Commission (SEC). ETHA seeks to track the price of Ethereum's native token, ether, and is expected to begin trading on Nasdaq on July 23, 2024. ETHA carries a 0.25% sponsor fee with a one-year waiver reducing the fee to 0.12% on the first $2.5B assets under management (AUM)1.

$ETH

Blackrock's iShares Ethereum Trust ETF Set To Launch; Says ETHA Seeks To Track Price Of Ethereum's Native Token, Ether, And Is Expected To Begin Trading On Nasdaq On July 23

Macro Economic Events

President Biden Tells Campaign Staff In Phone Call "Embrace" Kamala; Says I'm Going To Be Out On The Campaign Trail For Kamala Harris; I Won't Be On The Ticket But I'm Going To Be Fully Engaged; We're Going To Keep Working To End The War In Gaza; I'll Be Doing Whatever Kamala Wants Me Or Needs Me To Do

Upon closing of the transaction, expected to occur in the&nbsp;fourth quarter&nbsp;of 2024, the combined company will be named Phytanix Inc., and its common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol &quot;PHYX.&quot;
Phytanix is pioneering a new and innovative approach in the development of cannabinoid and cannabinoid-like medicines.
<div>The transaction reflects a pre-deal valuation of&nbsp;$58 million&nbsp;for Phytanix Bio plus the assumption of&nbsp;$17 million&nbsp;of preferred stock and&nbsp;$4.4 million&nbsp;of short-term debt that will be exchanged for convertible preferred stock at deal close</div>