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kneat.com Inc is in the business of developing and marketing a software application for modeling regulated data-intensive processes for regulated industries, focusing on the life sciences industry. The company has developed the Kneat Gx solution which provides management real-time visibility and control and increases product, quality, and compliance. In addition, it provides software-related services including training, installation, upgrades, consulting and maintenance, which include product support services. The company geographically operates in North America, Europe and Asia Pacific, out of which it earns maximum revenue from North America.

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Last week, President Joe Biden withdrew from the presidential race and endorsed Vice President Kamala Harris, initiating one of the shortest campaigns in modern history. With just three months before Election Day, Harris faces a tight timeline to build her <a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an">policy platform and connect with voters. </a>
To understand how Harris can navigate this condensed campaign, Politico recently <a href="https://www.politico.com/news/magazine/2024/07/26/kamala-harris-campaign-manager-roundtable-00171138">spoke</a> with seasoned campaign managers Patti Solis Doyle (Hillary Clinton's 2008 campaign), Robby Mook (Clinton's 2016 campaign), and Stuart Stevens (Mitt Romney's 2012 campaign).
The experts discussed how Harris should define herself against Donald Trump, attack rather than defend against his potential racist and sexist remarks, and chart a path to 270 electoral votes. They also considered potential vice-presidential picks, with Pennsylvania Governor Josh Shapiro frequently mentioned.
Doyle praised Harris's swift and effective campaign start, highlighting her strong rollout and early achievements.
&#8220;The last 72 hours have been unbelievable in terms of rollout. She locked up the nomination. Within 36 hours, she got the delegates. She got the endorsements from Congress. She got the money. And her first events have been through the roof,&#8221; Doyle said. 
&#8220;I think she's doing it. I think she is being forceful in her prosecution of Trump. I think she's offering a hopeful view of the future. I think she's doing the politics right,&#8221; she added. 
Mook emphasized the importance of leveraging the internet and social media to reach undecided voters, noting the internet as a &#8220;safe space&#8221; for Harris supporters.
&#8220;There's a paradox here. This is a really short campaign, and that is great, because she is rested. She is ready to go. I think time is often your enemy on these, particularly as a quasi-incumbent. But on the other hand, time is short, so the imperative is to lock in, first of all, who is she? And second of all, what is her vision?&#8221; Mook told the outlet.
Also Read: <a href="https://www.benzinga.com/news/24/07/39872154/trump-vs-biden-latest-round-of-polls-all-seem-to-suggest-grim-news-for-this-candidate">Trump Vs. Biden: Latest Rounds Of Polls All Seem To Suggest Grim News For This Candidate</a>
&#8220;I think she's done a very good job rolling that out right out of the gate. But there's a question about calcifying that and pushing it deep. And we know that these — they used to be called double-haters but I think they're just persuadable-again or either-way voters — we know that they have the least information about her and they get their news disproportionately from social media,&#8221; he added. 
Stevens suggested that Harris should attack Trump on his record, particularly on immigration.
&#8220;I think I would challenge the premise of the question that she didn't run a good campaign because she didn't win. Because most people&nbsp;don't&nbsp;win. And she did end up on the ticket, which is the next best thing you can do. She won a very tough race for attorney general. She's vice president of the United States, and now she's the Democratic nominee for president. So how far would she have gone if she was a good politician?,&#8221; Stevens said. 
&#8220;I've always felt that when President Biden was still in this, that there had to be two things that needed to be accomplished that were critical to winning. One was that the Democratic candidate needed to represent the future. And it's clear that the Harris campaign understands that,&#8221; he added. 
Harris must address voters&#8217; economic concerns while promoting her vision for the future. The experts agreed she should focus on change and hope, contrasting herself with Trump's divisive rhetoric. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one" target="_blank" rel="noreferrer noopener">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There's One Silver Lining</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Politics

Experts Weigh In on Harris's Fast-Track Campaign Strategy Following Biden's Exit: 'I Think She's Done A Very Good Job'

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas">many investors&#8217; favorite stocks</a> over the last week. Here&#8217;s a look at some of our top stories.
The S&amp;P 500 decreased by 0.8% and the Nasdaq dropped by 2.1%, with both indexes experiencing consecutive weekly losses for the first time since April. In contrast, the Dow saw a 0.8% increase, achieving its fourth straight positive week — a milestone not reached since May.
Small-cap stocks continued to perform well, with the Russell 2000 Index achieving its third consecutive week of gains, fueled by optimism over potential interest rate cuts. 
On the economic front, the U.S. economy grew at an annualized rate of 2.8% in the second quarter, surpassing the expected 2% growth, while a key inflation measure watched by the Federal Reserve fell to 2.5% in June, the lowest since February 2021, reinforcing expectations <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">for a rate cut in September</a>.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/general/entertainment/24/07/39891426/amc-entertainment-stock-halted-movie-theater-chain-announces-restructuring-of-debt-load-ada">&#8220;AMC Entertainment Stock Halted: Movie Theater Chain Announces Restructuring of Debt Load,&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, details AMC Entertainment Holdings Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) plans to restructure its debt, moving U.S. theaters into a different unit and issuing new secured term loans, while CEO Adam Aron anticipates recovery and growth, addressing recent box office challenges.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39955624/is-dogecoin-really-moving-according-to-plan-prominent-analyst-claims-i-havent-sold-one-sin">&#8220;Is Dogecoin Really Moving &#8216;According To Plan?&#8217; Prominent Analyst Claims: &#8216;I Haven&#8217;t Sold One Single DOGE, I&#8217;ve Just Been Buying,'&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports that crypto analyst Ali Martinez asserts Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is following a historical pattern, suggesting a potential 44% rise, as he continues to buy DOGE without selling.
<a href="https://www.benzinga.com/exclusives/24/07/39886192/exclusive-tesla-an-elon-musk-and-a-technology-story-first-ev-story-last-market-strategist-explains-w">&#8220;EXCLUSIVE: Tesla &#8216;An Elon Musk And A Technology Story First, EV Story Last&#8217; — Market Strategist Explains Why To Buy The Stock,&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, details how market strategist Jay Woods believes Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is driven more by Elon Musk&#8216;s technological innovations than its EV business, and why investors should consider buying Tesla stock.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/news/24/07/39891082/southwest-airlines-saved-by-procrastination-how-32-year-old-software-protected-company-from-microsof">Southwest Airlines Saved By Procrastination: How 32-Year-Old Software Protected Company From Microsoft Outage, CrowdStrike Issues</a>
<a href="https://www.benzinga.com/markets/equities/24/07/39939788/buy-the-dip-market-expert-says-recent-pullback-part-of-healthy-bull-market-a-little-tiny-ounce-o">Buy The Dip? Market Expert Says Recent Pullback Part Of Healthy Bull Market: &#8216;A Little Tiny Ounce Of Volatility, It Feels So Foreign&#8217;</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years</a>
The Bears
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">&#8220;Alphabet Investors Fret Over Margin Impact Of Higher AI-related Capex, But Fund Manager Says Not Spending Enough Exposes Google&#8217;s Parent To Risk Of &#8216;Losing Their Grip On The Future,'&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, discusses concerns over Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) increased AI-related capital expenditures impacting margins, while fund manager Gene Munster argues that not investing sufficiently in AI could jeopardize the company&#8217;s future competitive edge.
<a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership">&#8220;Mark Zuckerberg Slams Tim Cook&#8217;s Apple After Cupertino Reportedly Rejected Its iPhone AI Partnership Proposal: &#8216;They Wanted To Put Us In A Box…,'&#8221;</a> by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, reports that Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg criticized Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) for rejecting Meta&#8217;s AI partnership proposal, claiming Apple wanted to limit Meta&#8217;s competitive influence.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a>
<a href="https://www.benzinga.com/markets/equities/24/07/39898236/jeff-bezos-era-downstream-impact-losing-its-mojo-amazon-ceo-andy-jassy-is-reportedly-rethinking-">Jeff Bezos-Era &#8216;Downstream Impact&#8217; Losing Its Mojo? Amazon CEO Andy Jassy Is Reportedly Rethinking Alexa Devices Business Model Resulting In Billions Worth Of Losses</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938175/vice-president-harris-snubs-bitcoin-conference-would-have-been-a-disaster-for-her-shrugs-o">Vice President Harris Snubs Bitcoin Conference: &#8216;Would Have Been A Disaster For Her,&#8217; Shrugs Organizer</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image created using artificial intelligence via Midjourney.

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

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

Media

FFIE

GOEV

GPHOF

HYZN

KARS

NKLA

RIVN

WKHS

XIACY

XPEV

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

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

General

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

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

Trump Is 'Calling For Sky-high Tariffs Which Will Cripple Poor People,' Says Anthony Scaramucci – 'This Guy Knows How To Boil A Frog'

Crypto analyst and macro expert Raoul Pal has projected a significant bullish surge for Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), anticipating it to outperform Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39241558/analyst-predicts-bitcoin-to-reach-groundbreaking-100-000-milestone">in the ongoing cycle.</a>
What Happened: In a <a href="https://www.youtube.com/watch?v=s2uSDlgXhFY">video</a> on YouTube on Friday, Pal pointed out that Solana is demonstrating a classic bullish inverse head and shoulders pattern (I-HNS) against Bitcoin.
&#8220;That's a killer inverse head and shoulders, cup and handle, whatever it is. It's suggesting there is a very big move to come in this cross, meaning Solana is going to outperform a lot,&#8221; Pal said. 
An I-HNS pattern is a bullish technical formation. The right shoulder indicates that investors are eager to accumulate the asset without waiting for the price to fall to its previous low.
Pal also hinted at a bullish pattern for Solana that could lead to a price target of $265, a more than 45% gain from the current value.
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According to Pal&#8217;s chart analysis, Solana has turned the diagonal resistance of a triangle pattern into support. Last month, he stated that the crypto market is approaching the &#8220;Banana Zone,&#8221; a period of sustained uptrend for Bitcoin and other digital assets.
"Solana, well, it's breaking out. It's retesting that breakout. That's what it's been doing the last couple of days. Looks beautiful. We want to see this kind of stuff, because test, retesting of breakouts, bit of sideways consolidation, brings you the power of the banana, which is all we care about," he added. 
Pal&#8217;s bullish prediction for Solana is significant. His analysis suggests that Solana&#8217;s current pattern could lead to a substantial price increase, which would be a notable development in the crypto market. 
Furthermore, his forecast of the &#8220;Banana Zone&#8221; indicates a potential uptrend for not only Bitcoin but other digital assets as well.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39020792/bitcoin-to-hit-1-million-in-next-10-to-18-months-says-crypto-analyst-were-still-so-early-i" target="_blank" rel="noreferrer noopener">Bitcoin To Hit $1 Million In Next 10 To 18 Months, Says Crypto Analyst: ‘We're Still So Early In The Bitcoin Story'</a></li>
</ul>
Photo: Shutterstock

$BTC

$SOL

One Crypto Is Poised To Outperform Bitcoin, Says Crypto Expert

As Kamala Harris pivots from Vice President to <a href="https://www.benzinga.com/general/politics/24/07/39908377/kamala-harris-secures-majority-backing-for-2024-democratic-nomination-ap-survey">presumptive Democratic nominee for president</a>, her financial disclosures show a desirable piece of her portfolio – a 2.625% mortgage rate on her Los Angeles home.
That rate, secured in 2020, is a relic of the pandemic era&#8217;s historically low interest rates. With today&#8217;s average 30-year fixed mortgage rates hovering near 7%, Harris&#8217; loan terms point to the difference between the housing market then and now.
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According to a review of her financial disclosures by The Wall Street Journal, the Vice President and her husband, Doug Emhoff, refinanced their 3,500-square-foot Brentwood-area home with a $2 million, seven-year adjustable-rate mortgage (ARM) from Wells Fargo. That move allowed them to take advantage of the low-rate environment during the pandemic. Harris and Emhoff&#8217;s decision to opt for an ARM rather than a fixed-rate mortgage is a strategy often used by high-net-worth individuals. Gordon Miller, a mortgage broker in Cary, N.C., explained to the Journal that wealthy clients frequently refinance ARMs at the same rate before they reset, effectively extending the loan&#8217;s favorable terms.
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<hr class="wp-block-separator has-alpha-channel-opacity" />
The property has also appreciated in value. The four-bedroom home, purchased by Emhoff in 2012 for about $2.7 million, has nearly doubled in value, with current estimates from Zillow placing its value at around $5 million.
The couple&#8217;s real estate portfolio extends beyond their Los Angeles residence. Records show that Harris previously owned other properties in California and Washington, D.C.
Beyond their mortgage, Harris and Emhoff have assets valued between $3.6 million and $7.36 million (excluding real estate), and the Journal noted that much of their wealth is held in retirement accounts and low-cost index funds.
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The couple earned around $450,000 in 2023 (including Harris' Vice President salary of $218,784), a decrease from previous years due to Emhoff&#8217;s departure from his law partnership.
As Harris makes her case to lead the country – with President Joe Biden dropping out of the race on Sunday – her financial disclosures show careful, conservative management.
The Road Ahead: With the nomination all but secured, the Democratic National Committee has set Aug. 1 as the likely start date for delegate voting, marking the formal beginning of Harris&#8217;s journey as the presumptive nominee.
Harris&#8217;s path to the nomination appears clear with no plausible challengers on the horizon and endorsements pouring in from party heavyweights like <a href="https://www.benzinga.com/news/24/07/39922362/hillary-clinton-says-kamala-harris-is-chronically-underestimated-says-vp-can-prosecute-a-compelling">Bill and Hillary Rodham Clinton</a>.
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Real Estate

What's In Kamala Harris' Wallet? Millions Of Dollars, And A 2.625% Mortgage Rate

Financial access remains a significant hurdle for diverse business owners in the cannabis industry. Despite the industry&#8217;s rapid growth, minority entrepreneurs often face barriers to securing funding, navigating regulatory complexities and gaining equitable opportunities. According to a 2017 survey by Marijuana Business Daily, only 4.3% of cannabis business owners identified as African American, highlighting the disparity in representation and financial access within the industry.
Similarly, a 2021 report by the Minority Cannabis Business Association (MCBA) found that access to capital was one of the primary challenges for minority cannabis entrepreneurs, with 72% of respondents indicating it as a critical barrier​.
Minority entrepreneurs often encounter regulatory complexities, limited access to banking services and higher interest rates compared to their counterparts. These challenges are exacerbated by the federal status of cannabis, which complicates financial transactions and access to traditional banking services.
To address these inequities, Cannas Capital Holdings has launched the Bank Black Initiative, an AI-powered system designed to bridge the racial wealth gap by ensuring equitable financial access for diverse-status business owners. The initiative aims to become an ASTM Global Standard Guideline for Social Equity Lending, providing a comprehensive framework to support minority entrepreneurs in the cannabis sector.
<h2 class="wp-block-heading">Economic Empowerment Through Financial Literacy And Access To Capital</h2>
Cannas Capital&#8217;s Bank Black program utilizes an AI-operating system that goes beyond traditional underwriting metrics. While it considers essential factors such as management team, payment history and collateral support, the system also integrates additional components including community and demographic analysis, social capital assessment, institutional support, risk mitigation strategies, long-term sustainability, regulatory compliance and continuous monitoring. This holistic approach ensures that the full spectrum of a business's context and potential is evaluated, promoting fair and equitable access to financial resources.
The firm is dedicated to economic empowerment through financial literacy programs, business credit building and small business development. It facilitates access to capital by creating a network of lenders, establishing underwriting metrics for stakeholders and providing financial literacy training. These efforts are aimed at addressing the systemic barriers that minority entrepreneurs face, helping them build sustainable and successful businesses in the cannabis industry.
In addition, Cannas Capital has formed strategic partnerships to further its mission. Collaborations with organizations such as Infused Banking, a fintech and training company, and FinResults, a fintech company specializing in compliance and data-intensive business solutions, have enhanced the organization&#8217;s capabilities. These partnerships facilitate knowledge-sharing, idea exchange, and collaboration among banks, credit unions and other financial organizations.
Cannas Capital has already made significant strides in addressing these barriers. The firm has facilitated the funding of over 400 insurance policies in the commercial cannabis industry and helped numerous minority-owned businesses secure essential capital.
<h2 class="wp-block-heading">A Leadership Team Focused On Community Impact</h2>
Cimone Cason, CEO of Cannas Capital Holdings, has been instrumental in driving the company&#8217;s mission. As a city commissioner, Cason approved the first minority-owned cannabis company in her local municipality. She also serves as the chairwoman of the National Cannabis Industry Association Risk Management Committee and is involved with ASTM International and the NAIC Cannabis Workgroup.
Under her leadership, Cannas Capital Holdings has achieved notable successes, including the creation of Michigan&#8217;s Social Equity Programs: Joint Ventures and All-Star Program, and the approval of the first Social Equity Awardee Dispensary in a local municipality. The organization also established a Social Equity Discount program for commercial cannabis businesses nationwide.
Cannas Capital Holdings&#8217; commitment to social equity and economic empowerment has had a significant impact on minority communities. &#8220;The Cannas Capital Collective has provided us with the tools and knowledge to build a strong business by aiding my company in obtaining consumer lending, risk management, and establishing a business credit profile,&#8221; said Charles Inyang, a beneficiary of the program.
&#8220;Their commitment to helping cannabis companies gain funding in an economic environment that limits funding opportunities has been groundbreaking. We&#8217;ve seen significant improvements in our local economy,&#8221; stated a representative from Minorities 4 Medical Marijuana.
As Cannas Capital Holdings continues to drive innovation and inclusivity in the cannabis industry, the potential for lasting impact grows. By addressing financial inequities and empowering minority entrepreneurs, initiatives like Bank Black are not only fostering social equity but also paving the way for a more diverse and thriving cannabis industry. The success of such programs could serve as a model for other sectors, highlighting the importance of inclusive financial practices in creating sustainable economic growth.
Looking ahead, the continued efforts of Cannas Capital Holdings to champion social equity and economic empowerment are poised to transform the cannabis industry. By dismantling financial barriers and fostering an inclusive business environment, Cannas Capital is helping to create a more equitable future for minority entrepreneurs. Their work underscores the critical role that innovative financial solutions play in driving both industry growth and social progress.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Cannabis

Financing

Inside The AI-Driven Initiative Pioneering Financial Inclusion In The Cannabis Industry: Cannas Capital's 'Bank Black' Program

Imagine a world where everyone gets the same basic income with no strings attached. Sounds far-fetched, but OpenAI CEO Sam Altman is one step closer to achieving this goal with the help of Open<a href="https://www.benzinga.com/markets/equities/24/07/39976031/visa-leverages-ai-to-prevent-40b-in-fraud-how-machine-learning-is-combatting-the-surge-in-cyberc">AI</a>.&nbsp;
Altman and a nonprofit research organization, OpenResearch, have been studying the effects of a no-strings-attached universal income, and the results have been positive. Over the past several years, more than 150 local studies have explored a universal $1,000 salary, but the largest of these pilot studies came from OpenResearch.
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According to Bloomberg, the study has been distributing $1,000 monthly to people in Illinois and Texas to help with basic needs and expenses for three years. Researchers released their findings and concluded that the $1,000 "can be used to address recipients' specific needs, is responsive to changing demands, and creates the possibility for increased agency."&nbsp;
Altman's universal income theory, backed by AI, could not come at a better time as millions of Americans are struggling to pay for basic necessities like rent and food amid the rising <a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n">cost of living</a>. ABC News reported that a recent Harvard study revealed that around half of American renters are heavily burdened by the cost of housing. Harvard found that middle-income renters are the hardest hit. For example, nearly 40% of households earning $45,000 to $74,999 were rent-burdened.&nbsp;
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Sarah Saadian, the Senior Vice President of Public Policy and Field Organizing at the National Low-Income Housing Coalition, told ABC News, "More and more households that are struggling to pay rent are living just one sort of financial shock away from facing evictions and, in worst cases, homelessness."&nbsp;
The three-year study examined how unconditional cash could help struggling households pay for housing. Elizabeth Rhodes, OpenResearch's research director, explained that the idea of the study was to provide flexibility in participants' spending. She said, "Cash is flexible. It&#8217;s an imprecise instrument if your goal is to move one outcome for everyone, but it moves some or many outcomes for everyone."&nbsp;
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The study began in 2020 with 3,000 participants in Texas and Illinois. Each participant was given $1,000 in cash per month and told to spend it however they wanted. Despite the freedom to spend the money on whatever they chose, the study found that participants used it to fund basic expenses like rent, food and transportation, rather than on vices like alcohol. Participants increased their monthly spending by $310, but on essentials. The study also explored how unconditional cash could affect low-income participants' employment decisions, and the results were also positive.&nbsp;
Results revealed that participants could make more flexible employment decisions that align with their goals and values, rather than just accepting the first job available with poor pay.&nbsp;
One participant of the study revealed in an interview, "Because of the [cash transfer] and being able to build up my savings, I'm in a position for once to be picky," and added, "I don't have to take a crappy job just because I need income right now. I have the opportunity to hold out and try and find the right fit." The results showed that participants worked 1.3 hours less per week, leaving them with more leisure time, which can be beneficial for their physical and emotional well-being.
So far, the results have been positive and have shown that a basic universal income can help lower-income families afford the basics. However, there have been results indicating that this additional cash has had no significant impact on physical or mental health. But with OpenAI constantly learning and evolving, Altman's dream is not as far away.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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Personal Finance

Sam Altman's Dream Of A Universal Basic Income Is One Step Closer With The Help Of Open AI

The investing portfolios of former Speaker of the House Nancy Pelosi and Vice President Kamala Harris may differ, with a preference of individual stocks versus <a href="https://www.benzinga.com/etfs">exchange traded funds.</a>
What Happened: With President Joe Biden dropping out of the 2024 election, Harris is the favorite to secure the Democratic Party nomination and <a href="https://www.benzinga.com/general/politics/24/07/39892716/nancy-pelosi-endorses-kamala-harris-for-president-full-confidence-that-she-will-lead-us-to-victo">has received endorsements</a> from many people, including Pelosi.
While they are both Democrats and key political figures, Harris and Pelosi differ when it comes to investing.
Pelosi and her venture capitalist husband Paul Pelosi prefer to buy individual stocks and options, often in the technology sector. Compare that to the investment style of Harris and her husband Doug Emhoff, who have their money parked in mutual funds and ETFs.
Benzinga recently polled readers to see which investment style could be better.
"Kamala Harris' investments include mutual funds and S&amp;P 500 holdings, while Nancy Pelosi and her husband have purchased stocks like Nvidia, Apple and Tesla. Who do you think is a better investor?" Benzinga asked.
The results were:
<ul>
<li>Kamala Harris: 34%</li>
<li>Nancy Pelosi: 66%</li>
</ul>
The<a href="https://www.benzinga.com/gov-trades/members/nancy-pelosi"> Benzinga Government trades page</a> for Pelosi shows recent purchases of NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>).
According to a report from <a href="https://www.barrons.com/amp/articles/kamala-harris-wealth-investments-12983bda">Barrons</a>, Harris and Emhoff have between $2.9 million and $6.6 million in investments and cash based on financial disclosures. Among the investments include Harris having between $250,000 and $500,000 in a Target Date 2030 fund and between $100,000 and $250,000 in an S&amp;P fund and large-cap growth fund.
Emhoff has investments in several ETFs, including the iShares Core MSCI EAFE ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEFA#BATS">IEFA</a>).
A Quiver Quant <a href="https://www.quiverquant.com/news/Kamala%20Harris%20Net%20Worth">report </a>shows the Vanguard Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VUG#NYSE">VUG</a>) and the Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>) as two of the largest holdings by the vice president and first gentleman. The Vanguard Growth ETF is heavily weighting in technology stocks, making up 60% of the ETF. 
One thing the two political figures have in common with their investments is a preference to large cap stocks and not having large weightings of small cap stocks in their portfolios.
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Why It's Important: The net worth of Harris and Emhoff pales in comparison to her 2024 election opponent Donald Trump, who is a billionaire thanks to his investments and large stake in Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>).
"Does the difference in wealth between Kamala Harris and Donald Trump make her a more or less appealing candidate?" Benzinga asked.
The results were:
<ul>
<li>More appealing: 32%</li>
<li>Less appealing: 4%</li>
<li>Makes no difference to me: 64%</li>
</ul>
The poll found that potential voters don't care too much that Trump is worth significantly more than Harris. A larger amount of respondents said Harris is more appealing than less appealing based on her lower wealth amount.
Benzinga also asked if people were surprised by the $2.9 million to $6.6 million figure that is being reported for Harris and her husband's wealth.
The results were:
<ul>
<li>More than I expected: 29%</li>
<li>Less than I expected: 34%</li>
<li>About what I expected: 37%</li>
</ul>
The poll results were close, with the majority of respondents indicating that Harris&#8217;s wealth was in line with their expectations. Additionally, about one-third of the respondents felt that the amount was less than they anticipated.
Disclosures of investments for political figures has been a hot topic in recent years, with calls to ban members of Congress from trading stocks and options. The significant allocation to ETFs and mutual funds indicates that Harris has not been actively buying and trading individual stocks like some members of Congress and their spouses.
Harris and Pelosi may have investment commonalities of preference for technology and large-cap stocks, while both also mostly avoid small-cap stocks.
Interested in learning more about small-cap stocks and ETFs? Then you don&#8217;t want to miss Benzinga Small Cap Conference, Oct. 10 in Chicago.&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Click here</a>&nbsp;for more information.
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</ul>
The study was conducted by Benzinga in July 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 172 adults.
Image created with photos from Shutterstock and Midjourney.

Exclusives

ETFs

AVGO

IEFA

NVDA

PANW

Nancy Pelosi Vs. Kamala Harris: Poll Shows Who People Think Is the Better Investor

Individual investors are gaining ground as large institutional buyers pull back from all-cash home purchases. Experts say this trend could level the playing field for everyday homebuyers.
According to a report issued by Realtor.com, the number of institutional investors who bought with cash fell to 64% in the first quarter, down from a peak of 69.7% in late 2021 and the lowest level since 2008. At the same time, individual investors – those who have purchased 10 or fewer homes since 2001 – now account for 62.6% of investor purchases, the highest share on record.
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&#8220;It&#8217;s better for everyone involved that institutional money is withdrawing from the single-family home space,&#8221; G. Brian Davis, a real estate investor and co-founder of property management software SparkRental, said to Realtor.com. &#8220;It creates less artificial demand among buyers, therefore reducing some upward pressure on prices. It also leaves room for mom-and-pop investors to operate.&#8221;
The change is coming as overall <a href="https://www.benzinga.com/opinion/24/07/39602191/private-equity-firms-are-buying-up-real-estate-in-these-areas">investor activity remains elevated</a> compared to pre-pandemic levels. In the first quarter, investors accounted for 14.8% of home purchases, the highest share on record, even as total home sales fell to their lowest level in more than a decade.
The rise of individual investors might reflect broader changes in attitudes toward real estate investment and financing. Brie Schmidt, owner and managing broker of Second City Real Estate in Chicago, told Realtor.com that nine out of 10 transactions she sees now involve ‘mom-and-pop' investors more likely to use financing.
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&#8220;If an investment property in your market costs $200,000, you can buy one in all cash or put 20% down and buy five properties with the same amount of money,&#8221; Schmidt explained to Realtor.com. &#8220;It makes sense to maximize your capital and acquire more cash-flowing properties through financing.&#8221;
Realtor.com noted that the trend also <a href="https://www.benzinga.com/personal-finance/24/02/37318402/you-are-going-to-burn-up-alive-suze-orman-hates-the-fire-movement-and-says-you-need-at-least-20-">aligns with the growing popularity</a> of the FIRE (Financial Independence, Retire Early) movement, which advocates for leveraging real estate investments to build wealth and fund early retirement. While cash offers are losing some of their luster, they remain popular in certain markets. Portland-South Portland, ME, Albuquerque, NM, and Toledo, OH, topped the list of metros with the highest share of all-cash investor purchases in the first quarter, exceeding 80%.
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The shift away from all-cash purchases isn&#8217;t limited to investors, though. The share of non-investor buyers using all-cash offers has been growing since early 2021, hitting over 33% in the first quarter. The report noted that the increase is likely driven by high levels of home equity and elevated interest rates, which make cash purchases more attractive for those who can afford them.
Some real estate professionals see advantages in the current environment. Robert Dodson, sales manager and broker at Charles Burt Realtors in Missouri told Realtor.com that financing could give buyers more time for due diligence.
&#8220;Financing tends to create a longer timeline for closing,&#8221; Dodson told Realtor.com. &#8220;This allows buyers more due diligence periods for inspections, appraisal, and property data review, affording the investor the opportunity to become more educated on the asset.&#8221;
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<li>Mark Cuban believes &#8220;the next wave of revenue generation is around real estate and entertainment&#8221; —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> this new real estate fund allows you to get started with just $100.</a></li>
<li>Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a></li>
</ul>

Big Cash Bidders Retreat, Small Investors Rise: It's 'Better for Everyone,' Real Estate Executive Says

As the <a href="https://drupal-cloudfront.benzinga.com/topic/2024-summer-olympics?_gl=1&#x2A;zw27ht&#x2A;_gcl_au&#x2A;NTUzMDcwNTg1LjE3MjEwMDQ4OTM.&#x2A;_ga&#x2A;MTkwMzMyNTYzNy4xNzEzMjI4Nzcw&#x2A;_ga_V7ZK73W7N0&#x2A;MTcyMjA4MzQ3Ni41NzguMS4xNzIyMDg2MTA0LjAuMC4w">Paris Olympics</a> get underway, the global anti-doping framework is under scrutiny as the U.S. and <a href="https://drupal-cloudfront.benzinga.com/topic/wada">World Anti-Doping Agency </a>(WADA) lock horns over the country&#8217;s strict approach to combating sports doping. Meanwhile, Sha&#8217;Carri Richardson makes a highly anticipated return to Olympic competition after <a href="https://www.benzinga.com/markets/cannabis/21/07/21841565/shacarri-richardson-cannabis-community-expresses-support-and-logical-response">her suspension</a> for a positive cannabis test in 2021.
<h3 class="wp-block-heading">US-WADA Conflict Over Doping Regulations</h3>
The longstanding discord between the U.S. and WADA stems from Russia&#8217;s doping scandal at the Sochi Olympics, criticized for being mishandled by WADA and the IOC, <a href="https://apnews.com/article/olympics-2024-doping-salt-lake-wada-2788597f9f5e16e5afdb940bd60d38b7">reports</a> AP News. In response, the U.S. passed the Rodchenkov <a href="https://www.congress.gov/bill/116th-congress/house-bill/835/text">Act</a> in 2020 to empower federal investigations into sports doping, leading to heightened tensions, especially following a U.S. probe into doping among Chinese swimmers. This conflict, peaking with WADA&#8217;s threat of sanctions against USADA, casts doubts on the U.S.&#8217;s ability to host future international events like the 2034 Winter Olympics in Salt Lake City.
"It's highly incorrect that one country tries to impose jurisdiction on anti-doping decisions on the rest of the world," said WADA president Witold Banka.
<h3 class="wp-block-heading">WADA&#8217;s Stance On Cannabis: Unyielding</h3>
This rigorous stance on doping extends to substances like <a href="http://benzinga.com/cannabis">cannabis</a>, which remains strictly prohibited under WADA&#8217;s <a href="https://www.wada-ama.org/en/prohibited-list">code</a> because, says the agency, it is believed to <a href="https://www.benzinga.com/markets/cannabis/23/08/34011336/cannabis-use-violates-spirit-of-sport-says-world-anti-doping-agency-keeps-it-on-prohibited-list">pose health risks and violate the &#8220;spirit of sport.&#8221;</a> This firm stance has led to significant career impacts for athletes who test positive, <a href="https://www.benzinga.com/markets/cannabis/21/07/22025295/the-prohibition-of-cannabis-robbed-shacarri-richardson-but-also-expedited-the-federal-decriminal">most notably Richardson</a>.
<h3 class="wp-block-heading">Sha&#8217;Carri Richardson And Ross Rebagliati&#8217;s Cannabis Controversies</h3>
Richardson&#8217;s ordeal began with a positive test for cannabis during the 2021 U.S. Olympic trials, which resulted in her exclusion from the Tokyo Olympics. Her case brought to light the strictness of the regulations and the broader implications of how such rules intersect with personal adversities. Richardson was coping with her mother&#8217;s death at the time. Since then, she claimed the U.S. and world titles in sprinting and has become an influential figure in discussions about the fairness and relevance of cannabis prohibitions in sports, <a href="https://apnews.com/article/olympics-2024-track-shacarri-richardson-84393cda93c4cda879dd960001f31088">noted</a> AP News.
Another case in the ongoing evolution of cannabis regulation in Olympic sports is that of Ross Rebagliati. After clinching the first Olympic gold medal in men&#8217;s giant slalom snowboarding at the 1998 Winter Olympics in Nagano, Rebagliati tested positive for cannabis, leading to the temporary stripping of his medal due to levels exceeding the threshold. Nevertheless, his claim that exposure to secondhand smoke caused the positive result led to the reinstatement of his medal upon appeal.
Furthermore, Rebagliati <a href="https://www.benzinga.com/markets/cannabis/23/10/35377517/from-a-stripped-olympic-gold-medal-to-successful-business-snowboarder-ross-rebagliatis-cannabis-">leveraged this experience into a cannabis advocacy and business venture</a>, founding a medical marijuana dispensary in 2013 and later launching his own brand, Ross&#8217; Gold.
As all eyes turn to Paris Olympics, the evolving conversation around cannabis regulations by WADA will continue to spark debate. Meanwhile, fans can watch Sha&#8217;Carri Richardson <a href="https://olympics.com/en/paris-2024/schedule/athletics/women-s-100m?day=2-august">compete</a> in the Women's 100m on Friday, August 2.
Read Next:
<ul>
<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>
Image: Benzinga edit with&nbsp;Lazyllama by Shutterstock and jenaragon94 Wikimedia Commons.
<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>.

Regulations

Sports

Sha'Carri Richardson's Olympic Return: The Cannabis Debate Amid US-WADA Tensions Over Doping Laws

In a recent fireside chat hosted by <a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic</a>, senior equity analyst, former U.S. Rep&nbsp;Ed Perlmutter shared his insights on the evolving cannabis landscape. 
With Congress grappling with cannabis rescheduling and banking reforms, Perlmutter&#39;s insider knowledge offers a crucial perspective for <a href="https://www.benzinga.com/cannabis">cannabis investors</a>.
&quot;When I first introduced this in 2013-2014, I had to deal with the chuckle factor,&quot; said&nbsp;Perlmutter, often hailed as the founding father&nbsp;of the SAFE Banking Bill.
The recent passage of a modified version, SAFER, in the Senate Banking Committee marks progress, yet the path forward remains uncertain. &quot;We&#39;re in campaign season now,&quot; Perlmutter warned, underscoring the time constraints.
<h3>Rescheduling And Political Landscape</h3>
During the chat, Perlmutter delved into the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39912859/as-election-buzz-swirls-around-biden-and-harris-dea-comment-period-ends-whats-next-">intricate process of cannabis rescheduling</a> initiated by President Joe Biden. The administrative procedure, bound by the Administrative Procedures Act, involves specific steps and timelines for public comment and hearings.
Perlmutter expressed optimism about Vice President Kamala Harris potentially taking the helm. Her prior sponsorship of the SAFE Banking Bill signals a strong understanding and support for cannabis reforms.
However, the upcoming elections introduce uncertainty. Perlmutter outlined a scenario where the current administration&#39;s initiatives might face challenges depending on the election outcomes.
He also highlighted the role of key players in Congress, such as Senate Majority Leader Chuck Schumer&nbsp;whose&nbsp;efforts to integrate cannabis reforms into broader legislative packages, such as the National Defense Authorization Act (NDAA) or a financial services bill&nbsp;could be pivotal. &quot;If he just brought it to the floor, it would pass,&quot; Perlmutter said, reflecting on the strategic legislative maneuvers necessary to secure passage.
Perlmutter discussed the potential impact of a GOP victory, suggesting it could stall or reverse progress on cannabis reforms. He noted that if Republicans take the White House, there could be a shift in priorities away from cannabis legislation.
Also read:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/39946113/gop-attor-ney-gen-er-al-in-texas-loses-legal-battle-against-towns-with-decriminalized-cannabis-i">GOP Attor&shy;ney Gen&shy;er&shy;al In Texas Loses Legal Battle Against Towns With Decriminalized Cannabis, Insists They&#39;re &#39;Run By Pro-Crime Extremists&#39;</a>
<h3>The Road Ahead</h3>
Perlmutter remains optimistic about cannabis banking reform, possibly
through a larger financial services bill incorporating cryptocurrency regulations. &quot;There is a lot of discussion...where [banking reform]&nbsp;would be added to a financial services piece of legislation,&quot; he said.
Although cannabis rescheduling is in motion under the Administrative Procedures Act, the primary focus for Democrats would be winning the elections. He indicated that VP&nbsp;Harris and her potential running mate would prioritize election efforts, pointing out&nbsp;that<a href="https://www.benzinga.com/markets/cannabis/24/07/39920347/dallas-cannabis-reform-ballot-is-a-go-decriminalization-in-november-elections-would-allow-up-to-"> cannabis policy</a> is a crucial issue for many voters, enhancing its role in any forthcoming campaign strategy.
The methodical approach taken by the Biden administration ponders the question of whether rescheduling can happen in time or not. Perlmutter acknowledged the complexity of the situation.&nbsp;&quot;From the White House&#39;s point of view and the HHS, they&#39;ve done what they could do.&quot; He explained that the next phases are dictated by the Administrative Procedures Act, which requires specific timeframes for comments and hearings.
<h3>What If?</h3>
Perlmutter suggested a nuanced approach to cannabis policy even under <a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative">conservative leadership</a>. Discussing the hypothetical scenario of a Trump presidency, Perlmutter pointed out that despite Jeff Sessions rescinding the Cole Memo, the FinCEN guidance remained intact. &quot;The president could have said to Secretary Mnuchin, let&#39;s get rid of the FinCEN guidance. And he didn&#39;t.&quot;&nbsp;
Regarding the future, Perlmutter expressed cautious optimism.&nbsp;&quot;The clock is ticking, no question about it. But at least it&#39;s ticking.&quot; He highlighted that despite the lengthy process, the momentum towards rescheduling is significant and unprecedented in over five decades.
Find the complete conversation <a href="https://www.youtube.com/@ZuanicAssociates">here</a>.&nbsp;
Read next:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/39908764/harris-vs-trump-will-cannabis-rescheduling-survive-bidens-exit-analyst-on-potential-gop-victory">Harris Vs. Trump: Will Cannabis Rescheduling Survive Biden&#39;s Exit? Analyst On Potential GOP Victory</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;

Analyst Color

Government

Legal

Analyst Ratings

Interview

'The Clock Is Ticking' For Cannabis Rescheduling, Says Former Congressman Ed Perlmutter

Vice President Kamala Harris is making headlines as she prepares to become the Democratic nominee for president in the <a href="https://www.benzinga.com/topic/2024-election">2024 election</a> after President Joe Biden <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">opted not to seek reelection.</a>
If Harris secures the Democratic nomination and wins the presidency, she would make history as the first major party presidential nominee to fully support marijuana legalization.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39912303/kamala-harris-prospective-vp-picks-all-seem-to-support-cannabis-legalization-5-names-in-the-mix">Kamala Harris&#8217; Prospective VP Picks All Seem To Support Cannabis Legalization: 6 Names In The Mix</a>
Harris even admitted to having smoked marijuana in college. In a 2019 interview on the popular morning radio show, The Breakfast Club, Harris candidly discussed her personal experience with cannabis.
When asked by host Charlamagne tha God if she had ever smoked marijuana, Harris responded with a laugh: &#8220;I have. And I inhaled. I did inhale,&#8221; she said, taking a lighthearted jab at former President Bill Clinton's claim that he smoked but didn't inhale. 
&#8220;It was a long time ago but yes,&#8221; she added. &#8220;I just broke news.&#8221;
In that prominent interview, Harris also disputed reports that she doesn&#8217;t support legalizing marijuana: &#8220;That&#8217;s not true. I think that it gives a lot of people joy and we need more joy.&#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"> 
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<iframe loading="lazy" title="A play-by-play of Kamala Harris admitting she smoked weed" width="500" height="281" src="https://www.youtube.com/embed/kKMwua-_jlQ?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>
<h3 class="wp-block-heading">A Strong Supporter Of Marijuana Legalization</h3>
Harris has consistently advocated for cannabis legalization throughout her political career, with her stance <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">evolving significantly over time.</a> Initially, as the District Attorney of San Francisco, she opposed California&#8217;s Proposition 19 in 2010, which sought to legalize marijuana.
However, her position began to shift during her tenure as a U.S. Senator and Vice President.
Key moments of her advocacy include:
<ul>
<li>2015: Harris called for an end to the federal ban on medical marijuana during the Democratic State Convention.</li>
<li>2018: She co-sponsored the Marijuana Justice Act, aimed at legalizing marijuana at the federal level and addressing racial disparities in cannabis-related arrests.</li>
<li>2019: During an interview, she publicly supported cannabis legalization and shared her own experiences with marijuana.</li>
<li>2020: Harris's presidential campaign emphasized her commitment to cannabis reform, including the expungement of nonviolent marijuana-related offenses.</li>
<li>2024: As recently as March, she reiterated her call for legalization during discussions with marijuana pardon recipients, framing it as a critical issue of criminal justice reform.</li>
</ul>
In addition to her public support for the Marijuana Justice Act, Harris has advocated for broader marijuana reform in her book, &#8220;The Truths We Hold: An American Journey.&#8221; She has called for the legalization of marijuana and the expungement of past marijuana-related offenses from individuals' records.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39212969/kamala-harris-gets-her-own-cannabis-strain-kamala-kush-whether-she-likes-it-or-not-watch-jimmy-k">Kamala Harris Gets Her Own Cannabis Strain &#8216;Kamala Kush&#8217; Whether She Likes It Or Not: Watch Jimmy Kimmel Break The News To Her</a></li>
</ul>

Kamala Harris Admits 'I Inhaled' Marijuana And Now Pushes For Legalization: What This Means For 2024 Elections

IAC chairman Barry Diller&nbsp;on Friday praised Vice President Kamala Harris while recounting what happened after President Joe Biden last week <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39885549/biden-withdraws-from-2024-race-what-that-means-for-solana-etf-prospects">decided to exit</a> the 2024 presidential race.
What Happened: While appearing on CNBC, Diller said he was impressed by Harris&#8217;s quick mobilization of her team following Biden&#8217;s decision not to run for re-election.
&#8220;Within&nbsp;a millisecond of Biden telling&nbsp;her I&#8217;m not going, she&nbsp;mobilized her forces and within&nbsp;12 hours, she shut everyone&nbsp;else down,&#8221; he said.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Era White House Official Anthony Scaramucci Says Kamala Harris Is Capable And Has A Great Team: &#8216;Look Forward To Seeing Her Policies On Crypto&#8217;</a>
The media mogul said he initially hoped for an open convention, where multiple candidates, including Harris, would compete, creating a vibrant democratic process. 
However, he recognized Harris&#8217;s confidence and organizational skills in securing endorsements and eliminating competition.
&#8220;It was her. She organized the endorsements leading with the Clintons and everybody else,&#8221; Diller added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Do not discount Kamala Harris,&quot; says IAC Chairman Barry Diller. &quot;Because within a millisecond of Biden telling her I&#39;m not going, she mobilized her forces and within 12 hours, she shut everyone else down.&quot; <a href="https://t.co/Hsb02gwTHR">pic.twitter.com/Hsb02gwTHR</a>
&mdash; Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1816835497706070510?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: A <a href="https://www.benzinga.com/news/24/07/39996908/trump-vs-harris-new-poll-shows-ex-president-leading-democratic-candidate-by-a-narrow-margin-but-vice">poll conducted by The Wall Street Journal</a>, results of which were made public on Friday, showed former President Donald Trump leading Harris by a narrow margin. Moreover, Harris&#8217;s favorability among registered voters was on the rise.
Another report from the same day highlighted <a href="https://www.benzinga.com/general/politics/24/07/39973800/trump-vs-harris-vice-president-gains-ground-lost-by-joe-biden-in-swing-states">Harris&#8217;s growing support in swing states</a> compared to where the President stood earlier this month.
Meanwhile, there&#8217;s also speculation about whether <a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">Trump might replace his</a> vice presidential candidate, Sen. J.D. Vance (R-Ohio), due to his underwhelming polling. This is in the wake of Harris gaining momentum.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron DeSantis Says Florida Supreme Court Should &#8216;Not Have Allowed&#8217; Cannabis Legalization Initiative On Ballot</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

'Don't Discount Kamala Harris Yet,' Says IAC Chairman Barry Diller, Recounting How 'She Mobilized Her Forces And… Shut Everyone Else Down' Within Hours Of Biden Stepping Down

Former White House Communications Director Anthony Scaramucci weighed in on the possible impact on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices if former President Donald Trump wins his second term in the upcoming elections, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39994378/bitcoin-ethereum-dogecoin-zoom-higher-as-bitcoin-conference-awaits-donald-trumps-keynote-s">ahead of the Bitcoin 2024 conference</a>.
What Happened: Scaramucci, a known proponent of Bitcoin and cryptocurrencies as an asset class, highlighted how a second Trump presidency could influence prices of the apex crypto, in an interview with CNBC.
"I applaud President Trump for that."
He also went into detail about the stance of the Democratic party and how Trump&#8217;s outreach to cryptocurrency proponents has taken his rivals by surprise.
"I think President Trump's move to court Bitcoin and towards crypto assets has shaken the Democrats at core."
See Also: <a href="https://www.benzinga.com/news/24/07/39997008/janet-yellen-rejects-economist-roubinis-and-trump-era-officials-claims-of-manipulation-in-treasuries">Janet Yellen Rejects Economist Roubini&#8217;s And Trump-Era Official&#8217;s Claims Of &#8216;Manipulation&#8217; In Treasuries</a>
Scaramucci, who started investing in Bitcoin in 2020 and is <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39960622/anthony-scaramucci-writing-bitcoin-book-with-michael-saylor-this-is-where-the-future-is">writing a book</a> on King Crypto, also had a word of caution for Democrats.
"Very smart, younger Democrats are recognizing that they're way off base with their positions, they're way off with these SEC lawsuits and regulation by enforcement," he added.
The former White House official also underscored his belief that Trump would be "very well welcomed" at the Bitcoin 2024 conference, where the former president is scheduled to deliver the keynote address.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Fmr. President Trump is set to deliver a keynote address at the Bitcoin Conference in Nashville. Here&#39;s Anthony Scaramucci on what a second Trump Presidency could mean for bitcoin prices. <a href="https://t.co/L62svncI0Q">pic.twitter.com/L62svncI0Q</a>
&mdash; Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1816815455958606023?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ahead of the conference, Sen. Tim Scott (R-S.C) underscored the importance of the King Crypto, saying, "Bitcoin's future has to be in America. What we know about the Biden administration and the SEC, is that they are anti-Bitcoin, anti-digital assets."
<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">Former President Trump is scheduled to address <a href="https://twitter.com/hashtag/Bitcoin2024?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin2024</a> this weekend, having warmed to cryptocurrency after previously calling it a &quot;scam.&quot;<a href="https://twitter.com/SenatorTimScott?ref_src=twsrc%5Etfw">@SenatorTimScott</a> weighs in. <a href="https://t.co/BzyNvlLEgK">pic.twitter.com/BzyNvlLEgK</a>
&mdash; Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1816857653840146584?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The optimism among Bitcoin supporters has been rising in light of the possibility of Trump winning his second term, with Bitcoin conference fundraiser tickets <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39856556/trumps-bitcoin-conference-fundraiser-tickets-skyrocket-to-844k">skyrocketing to $844,600 per person</a>.
Analysts at research and brokerage firm Bernstein think that a Trump win <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897980/potential-trump-victory-could-stir-bitcoin-market-bernstein-analysts-predict-implications-">could also stir the Bitcoin market</a>. They believe that the market has not yet accounted for a positive shift in cryptocurrency regulations if Trump is re-elected in November.
There are rumors that Trump might also announce <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866338/bitcoin-as-a-strategic-reserve-asset-for-the-us-expert-details-how-trump-could-make-it-hap">Bitcoin as a strategic reserve asset</a> during the Bitcoin conference on July 27.
Price Action: At the time of writing, Bitcoin was trading at $67,965, up 1.43% in the last 24 hours, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Bitcoin has surged nearly 54% in 2024 so far.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39997182/former-white-house-official-anthony-scaramucci-mocks-jd-vance-says-thank-you-for-knocking-me-out-of">Former White House Official Anthony Scaramucci Mocks JD Vance, Says Thank You For &#8216;Knocking Me Out Of The Position Of The Worst Donald Trump Hire&#8217;</a></li>
</ul>
Image generated using Midjourney

Anthony Scaramucci, Tim Scott Weigh In Ahead Of Ex-President's Address At Bitcoin 2024 Conference: 'Trump's Move To Court Bitcoin And Towards Crypto Assets Has Shaken The Democrats At Core'

French billionaire Bernard Arnault recalled the time when he and Elon Musk, the CEO of Tesla and SpaceX, discussed the idea of a Louis Vuitton-branded rocket.
What Happened: While appearing on CNBC&#8217;s Squawk Box, Arnault spoke about his discussions with Musk. &#8220;I admire very much what he's doing because I think he's a genius. To do such a success with a car company was quite unexpected. But he's a genius,&#8221; he said.
The French luxury mogul went on to reveal that the last time the two billionaires talked about an idea involving a rocket. &#8220;Maybe we have a way to put Vuitton in a rocket. I don't know if we go somewhere.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Slams Tim Cook&#8217;s Apple After Cupertino Reportedly Rejected Its iPhone AI Partnership Proposal: &#8216;They Wanted To Put Us In A Box…&#8217;</a>
When questioned about the possibility of branding the rocket&#8217;s exterior with Louis Vuitton, Arnault responded, &#8220;Maybe the inside. I don't&nbsp;know. We have to —&nbsp;we have to think. He&nbsp;did not say no.&#8221;
Arnault then humorously voiced his apprehension, saying, &#8220;I'm afraid he will ask me to go with him in the rocket.&#8221; When asked if he would go on the rocket, Arnault said &#8220;I'm not sure.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Last time we discussed one idea, which is a rocket. Maybe we have a way to put Louis Vuitton in a rocket. I don&#39;t know if we go somewhere," says <a href="https://twitter.com/LVMH?ref_src=twsrc%5Etfw">@LVMH</a> CEO Bernard Arnault on his last conversation with <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@ElonMusk</a>. "I&#39;m afraid he will ask me to go with him in the rocket." <a href="https://t.co/lg5VbihOsk">pic.twitter.com/lg5VbihOsk</a>
&mdash; Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1816800297840251253?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
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Why It Matters: Last year in June, it was reported that <a href="https://www.benzinga.com/news/23/06/32905288/elon-musk-and-bernard-arnault-meet-for-power-lunch-in-paris-what-the-worlds-two-richest-men-discusse">Musk and Arnault had lunch</a> together in Paris. They reportedly met at one of Europe&#8217;s most luxurious hotels, the Cheval Blanc, where opulent rooms offer a breathtaking view of the Eiffel Tower.
Musk is currently the wealthiest person in the world with a net worth of $243 billion. Meanwhile, Arnault has a net worth of $188 billion, making him the third richest person on Bloomberg&#8217;s Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/07/39947719/elon-musk-says-he-will-fight-mark-zuckerberg-any-place-any-time-any-rules-cage-match-vibes-anyone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says He Will Fight Mark Zuckerberg &#8216;Any Place, Any Time, Any Rules&#8217; — &#8216;Cage Match&#8217; Vibes Anyone?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

SPACE

Tech

Elon Musk, Bernard Arnault Once Discussed Potential SpaceX-Louis Vuitton Collab: 'I'm Afraid He Will Ask Me To Go With Him In The Rocket'

French luxury mogul Bernard Arnault on Friday disclosed that the late Steve Jobs had once sought his counsel on the retail strategy for Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), despite skepticism from industry rivals.
What Happened: While appearing on CNBC, Arnault reminisced about a conversation with Jobs when Apple was considering the launch of its first retail store. The late Apple co-founder intrigued by Arnault&#8217;s success with the luxury brand Vuitton, sought his views on the venture.
Arnault said that he suggested Jobs inaugurate the first Apple store at a prime location, hinting at emulating Vuitton&#8217;s strategy. The first Apple store was launched in Tokyo, directly across a Vuitton outlet on Ginza, and it turned out to be a massive success.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39902838/broadcom-to-challenge-nvidia-dominance-analyst-says-jensen-huang-led-chip-giants-competitor-is-catch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Broadcom To Challenge Nvidia Dominance? Analyst Says Jensen Huang-Led Chip Giant&#8217;s Competitor Is &#8216;Catchin</a>
Arnault said that Michael Dell, the founder of Dell Technologies, had expressed reservations about Apple&#8217;s direct retail strategy. &#8220;It proved to be a fantastic success. When, at the time, many of his competitors, I remember Dell, for instance, saying it would never work, these direct shops,&#8221; he stated.
During their interaction, Jobs also acknowledged the durability of Arnault&#8217;s products, contrasting it with the unpredictability of the tech industry&#8217;s success over time.
&#8220;He was very smart, obviously, and very creative also. But he told me, &#8216;You know, I like your products. And you have an advantage on me.&#8217; I said, &#8216;Well, which one?&#8217; &#8216;I don't know if my iPod will still be successful in 10 years. But what I know is your Dom Perignon will be sold in a century,'&#8221; Arnault said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/LVMH?ref_src=twsrc%5Etfw">@LVMH</a> Chairman and CEO Bernard Arnault on speaking with Steve Jobs when Apple was thinking about opening its first retail store: "It proved to be a fantastic success. When at the time many of his competitors, I remember [Michael] Dell for instance, saying it would never work." <a href="https://t.co/Ex3ypFMmzq">pic.twitter.com/Ex3ypFMmzq</a>
&mdash; Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1816819168617824402?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
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Why It Matters: Bernard Arnault&#8217;s advice to Steve Jobs came from his extensive experience in the luxury retail sector. His success with Vuitton is a testament to his understanding of the retail landscape.
The French luxury mogul currently has a net worth of $188 billion, making him the third wealthiest individual in the world, according to the Bloomberg Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>. However, Arnault&#8217;s fortune has seen a <a href="https://www.benzinga.com/news/large-cap/24/07/39920045/arnaults-fortune-falls-as-lvmh-misses-on-earnings-zuckerberg-now-eyes-third-spot-on-billionaires-l">significant drop recently</a>. 
Earlier this week, it was reported that nearly half of Arnault's wealth is tied to his stake in LVMH-Moët Hennessy Louis Vuitton, which saw a nearly 5% decline in over-the-counter shares after earnings fell short of expectations.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/07/39947719/elon-musk-says-he-will-fight-mark-zuckerberg-any-place-any-time-any-rules-cage-match-vibes-anyone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says He Will Fight Mark Zuckerberg &#8216;Any Place, Any Time, Any Rules&#8217; — &#8216;Cage Match&#8217; Vibes Anyone?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Steve Jobs Once Consulted Bernard Arnault When Apple Was Opening Its First Retail Store: French Luxury Tycoon Says 'It Proved To Be A Fantastic Success. When At The Time Many Of His Competitors…Saying It Would Never Work.'

Robert F. Kennedy Jr., an independent U.S. presidential candidate, raised questions about the recent pro-cryptocurrency stance of GOP nominee Donald Trump. This comes as both candidates vie for the support of crypto-holders at the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39470346/trump-reportedly-discussing-participation-in-bitcoin-2024-conference-move-to-reinforce-cry">2024 conference.</a>
What Happened: Kennedy, who is currently favored by 8% of voters, expressed skepticism about Trump&#8217;s newfound support for cryptocurrency. He made these remarks at the Bitcoin 2024 conference in Nashville, Tennessee, where Trump is scheduled to speak on Saturday, Reuters reported.
In his conference speech, Kennedy took a jab at Trump, saying, &#8220;President Trump has orange hair&#8230; But I have an orange heart,&#8221; referring to the color of the Bitcoin logo. He expressed hope that Trump&#8217;s commitment to bitcoin is more than just political convenience.
&#8220;I hope President Trump&#8217;s commitment to Bitcoin is more than political expediency.&#8221;
Despite his low polling numbers, Kennedy&#8217;s candidacy could have a significant impact on the election if he draws voters away from Trump or the likely Democratic nominee, Kamala Harris. However, Kennedy has yet to qualify for the ballot in many states.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39963958/polymarket-trader-has-bet-over-1m-on-president-biden-to-not-finish-his-term-heres-how-that">Polymarket Trader Has Bet Over $1M On President Biden To Not Finish His Term: Here&#8217;s How That Is Going</a>
Kennedy also pledged that, if elected, he would instruct the U.S. Treasury to acquire enough Bitcoin to build a reserve similar to U.S. gold reserves, and would make direct ownership of Bitcoin tax-free.
Conference attendees are eagerly anticipating Trump&#8217;s speech on Saturday. &#8220;Make Bitcoin Great Again&#8221; red hats, a play on Trump&#8217;s &#8220;Make America Great Again&#8221; slogan, are being sold at the conference.
Why It Matters: Trump&#8217;s recent endorsement of cryptocurrency, despite previously calling it a &#8220;scam&#8221; in 2021, has been seen as a strategic move to gain support from the crypto community. The Republican Party has been actively courting crypto holders by promising lighter regulations.
Economist Peter Schiff has suggested that <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39975390/trumps-bitcoin-support-a-political-no-brainer-to-garner-votes-says-peter-schiff-promise-to">Trump&#8217;s support for Bitcoin</a> is a political move to gain votes, not a genuine commitment to make it a reserve asset. Schiff also warned that by pursuing cryptocurrency-supporting voters, Trump risks alienating supporters who do not trust the asset&#8217;s potential.
On the other hand, analysts from research and brokerage firm Bernstein have suggested that a potential Trump victory in the 2024 elections could significantly <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897980/potential-trump-victory-could-stir-bitcoin-market-bernstein-analysts-predict-implications-">shake up the cryptocurrency market. </a>The Bernstein team posits that the market has not accounted for a potential positive shift in cryptocurrency regulations if Trump is reelected in November.
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</ul>
Photo via Shutterstock

Robert F. Kennedy Jr. Questions Trump's Pro-Crypto Stance As 2024 Presidential Race Heats Up: 'I Hope...Commitment To Bitcoin Is More Than Political Expediency'

A gathering meant to rally support for Vice President&nbsp;Kamala Harris&#8216; presidential campaign morphed into an <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39919247/who-will-kamala-harris-pick-for-vice-president-crypto-bettors-have-4-favorites-for-democra">endorsement event for</a> Pennsylvania Governor&nbsp;Josh Shapiro (D-Pa.).
What Happened: The event on Friday, which saw Democratic leaders and labor unions come together to express their support for Harris, unexpectedly shifted its focus to Shapiro. 
Several speakers, including influential union leaders,&nbsp;the chair of the Philadelphia&nbsp;Democratic Party,&nbsp;and Philadelphia Mayor Cherelle Parker, endorsed Shapiro as a potential vice presidential candidate, <a href="https://www.politico.com/news/2024/07/26/philly-unions-democrats-shapiro-00171491">reported</a>&nbsp;Politico.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron DeSantis Says Florida Supreme Court Should &#8216;Not Have Allowed&#8217; Cannabis Legalization Initiative On Ballot</a>
&#8220;If they take our advice, Josh Shapiro will be our vice president,&#8221; Parker stated, highlighting Shapiro&#8217;s capability to secure a win in Pennsylvania.
Despite the public endorsements, Shapiro has not openly expressed interest in the VP position, stating that the decision lies with Harris. 
However, his allies, including Ryan Boyer,&nbsp;the leader of Philadelphia's powerful&nbsp;building trades council, have been vocal about Shapiro&#8217;s suitability for the White House. &#8220;He would look good on 1600 Pennsylvania Avenue.&#8221;
Why It Matters: Shapiro, who is reportedly&nbsp;being vetted by the Covington&nbsp;&amp; Burling law firm for the VP role, has been actively increasing his public presence.
He is scheduled&nbsp;to lead a Harris volunteer&nbsp;kick-off in central Pennsylvania on Saturday and will return to Philadelphia&nbsp;on Monday for an event&nbsp;with Michigan Governor Gretchen Whitmer.
According to Democratic mega-donors, Shapiro, Sen. Mark Kelly (D-Ariz.), and Roy Cooper (D-N.C.) are leading the race to become <a href="https://www.benzinga.com/news/24/07/39924772/democratic-mega-donors-predict-kamala-harris-to-pick-vp-among-these-3-lawmakers-as-presidential-race">Harris's running mate</a>.
Harris is preparing for a potential face-off against former President Donald Trump in the 2024 election. The choice of a running mate could significantly influence the election outcome. 
There are also speculations that Trump could <a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">replace his current running mate</a>, Sen. J.D. Vance (R-Ohio), due to his underwhelming polling.
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<li><a href="https://www.benzinga.com/news/24/07/39922362/hillary-clinton-says-kamala-harris-is-chronically-underestimated-says-vp-can-prosecute-a-compelling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hillary Clinton Says Kamala Harris is &#8216;Chronically Underestimated&#8217; — Says VP Can &#8216;Prosecute A Compelling Case&#8217; Against Failed President Trump</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Josh Shapiro Emerges As Potential VP Candidate At Kamala Harris Endorsement Event: 'He Would Look Good...'

Kneat announces $15M bought deal public offering

kneat.com to upsize bought deal public offering to $17.4M from $15M

kneat.com GAAP EPS of -$0.03, revenue of $9.8M

kneat.com, inc (KSIOF) Q4 2023 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If you have a high risk tolerance and are seeking supersized returns in the stock market, <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> should be at the top of your watchlist. While the bad reputation penny stocks have is often justified, by avoiding biotech and cash-burning companies, you can find some real gems trading at bargain valuations. These discounted businesses could potentially deliver multibagger returns within a year or less once Wall Street takes notice.



Of course, betting on penny stocks does come with some near-term risks. However, the prospect of exponential gains generally outweighs the downside when you select quality, undervalued companies that are already profitable or have enough cash reserves to sustain operations until profitability. The keys are finding penny stocks with solid growth potential and minimal dilution risk. Here are seven to look into:



<h2>Kneat.com (KSIOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/penny-stocks-300x169.png" alt="Stacks of pennies representing penny stocks. Nano-Cap Penny Stocks"><div>Source: John Brueske / Shutterstock.com</div></div>Kneat.com (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ksiof-stock-quote/">KSIOF</a>) is a software platform used by scientists and engineers in the life sciences industry to help manage and digitize important processes like validation, which ensures that equipment and systems work correctly. Kneat&rsquo;s paperless validation software is utilized by 8 of the world&rsquo;s top 10 pharmaceutical companies, which to me highlights the sticky and loyal customer base that makes this penny stock one of the most stable I&rsquo;ve encountered.



KSIOF handily beat Q4 estimates recently by surpassing EPS expectations by 20% and beating revenue estimates by 4%. In my view, this exemplifies the company&rsquo;s consistency and steady execution. Looking ahead, analysts expect strong growth for Kneat with projected <a href="https://seekingalpha.com/symbol/KSIOF/earnings/estimates" target="_blank">annual revenue growth of around 40%</a> over the next five years. Yet despite this robust outlook, the stock currently trades at just 6.6 times sales, which seems inexpensive for a SaaS company with so much runway left. This makes it one of those penny stocks to buy.



In 2023, total revenues grew 44%, SaaS revenue expanded 73% and annual recurring revenue increased 55%. The company won most of these big customer deals well before last year, underscoring that the growth was organic. This leads me to believe Kneat is among the safer penny stocks you can purchase today that still offers huge upside potential from current levels.



<h2>Spire Global (SPIR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/penny-stocks-1600-300x169.jpg" alt="A concept image of a penny sitting on a stock chart"><div>Source: Billion Photos / Shutterstock.com</div></div>Spire Global (NYSE:<a href="https://investorplace.com/stock-quotes/spir-stock-quote/">SPIR</a>) is a satellite data company that tracks critical information like weather patterns along with ship movements, trade flows, and anti-piracy operations.



In Q4 <a href="https://www.google.com/finance/quote/SPIR:NYSE" target="_blank">net loss margins improved by 44%</a> year-over-year alongside 24% revenue growth. If Spire can continue expanding margins at this clip alongside consistent top-line growth, I think it can easily deliver multibagger returns over the next few years. Even after the sell-off, SPIR trades at just 2x forward sales despite <a href="https://seekingalpha.com/symbol/SPIR/earnings/estimates" target="_blank">expectations for 30%+ revenue growth</a> annually. Profitability is expected next year.



A key factor that gives me conviction in Spire&rsquo;s long-term promise is its federal business of providing satellite data insights to defense organizations. This segment should see steady demand growth given heightened geopolitical tensions worldwide. Spire operates the second-largest commercially owned satellite fleet globally. Satellite and <a href="https://investorplace.com/industries/industrial/space/">space stocks</a> generally trade at far richer valuations than SPIR currently.



<h2>SurgePays (SURG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-finding-magnify-300x169.jpg" alt="A hand holding a magnifying glass over pennies. under-$1 stocks to buy"><div>Source: Shutterstock</div></div>SurgePays (NASDAQ:<a href="https://investorplace.com/stock-quotes/surg-stock-quote/">SURG</a>) is a fintech company providing services like prepaid wireless plans, reloadable debit cards, and other financial offerings to the underbanked demographic. While SURG certainly has upside potential, it&rsquo;s important to note the stock has <a href="https://investorplace.com/2024/03/why-is-surgepays-surg-stock-down-27-today/" target="_blank">plunged nearly 30%</a> recently after missing Q4 estimates. It now trades down at penny stock levels, but I still see good value for long-term investors despite the near-term underperformance.



Yes, SURG could fall further in the coming months. However, I ultimately think SurgePays is attractively priced for the long run, especially since much of the negativity seems tied to fears over the Affordability Connectivity Program (ACP) potentially ending. This risk appears quite priced in now.



I also believe that even if ACP subsidies are removed, people won&rsquo;t simply abandon their internet which has become a basic necessity. Plus, the ACP currently benefits 20 million Americans, and the White House has already called for its renewal. If ACP gets extended, SURG could easily deliver multibagger upside literally overnight. At just 3.4x forward earnings and 0.64x sales, I think the risk-reward skews substantially to the upside. Ending subsidies to 20 million Americans in an election year does not seem like a move this administration would like to make.



<h2>Iris Energy (IREN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/michelangelo-hands-bitcoin-1600-300x169.jpg" alt="Hands mimicking Michelangelo pose from Sistine Chapel, with one hand holding a Bitcoin (BTC) coin and another hand reaching for the coin against a purple backdrop"><div>Source: shutterstock.com/Unknown man</div></div>Iris Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/iren-stock-quote/">IREN</a>) is not your typical energy company but rather operates as a Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) miner. I&rsquo;ve been bullish on Bitcoin mining stocks for months now, and I think it&rsquo;s a prime time to scoop them up before the upcoming halving sends Bitcoin surging and boosts miners. Many investors shun Bitcoin miners currently due to fears that the halving will cut their mining revenue. However, miners have aggressively expanded operations ahead of the halving. They also hold sizable Bitcoin reserves gaining value daily.



What makes IREN unique is it immediately sells all mined Bitcoin rather than holding it speculatively. IREN&rsquo;s <a href="https://irisenergy.gcs-web.com/news-releases/news-release-details/iren-announces-monthly-investor-update-february-2024" target="_blank">cost per Bitcoin mined is $20,158</a>, so I believe substantial gains are still ahead as Bitcoin climbs. The miner also recently updated <a href="https://irisenergy.gcs-web.com/news-releases/news-release-details/iren-provides-20-ehs-expansion-update" target="_blank">guidance to expand capacity to 20 EH/s</a> this year, up from 7 EH/s. More profitable miners do exist that hold Bitcoin, but I don&rsquo;t think that will prevent IREN from benefiting from this bull market.



<h2>Century Casinos (CNTY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-1-300x169.png" alt="Explore the stock market trends for 2024 with analytical visuals of businessman planning long term investments and future business growth, Navigate towards success with smart strategies. growth stocks with millionaire potential"><div>Source: Thapana_Studio / Shutterstock.com</div></div>Century Casinos (NASDAQ:<a href="https://investorplace.com/stock-quotes/cnty-stock-quote/">CNTY</a>) is undoubtedly depressed currently. The stock chart is ugly after falling from pre-pandemic levels around $8-10 to today&rsquo;s $3 per share. But for hunting multibagger gains in a year, CNTY looks attractive. The casino operator faces increased competition in key markets like Reno and Maryland where ramp-up has been slower than anticipated. CNTY also runs four casinos on cruise lines alongside its 11 land casinos.



The pandemic shutdown forced CNTY to take on over $1 billion in debt. Ongoing interest expenses have led to steep losses. However, CNTY&rsquo;s $189 million cash position seems sufficient to endure losses until rates decline and profitability returns, likely by 2025. While a near-term gamble with earnings on March 14, sales are expected to keep <a href="https://seekingalpha.com/symbol/CNTY/earnings/estimates" target="_blank">growing 27.5% in 2023 and 13.2%</a> in 2024. If CNTY stages a turnaround, I expect multibagger upside.



<h2>Tetra Technologies (TTI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/arrow-graphic-growth-stocks-1600-300x169.jpg" alt="Graphic of green and blue arrow against pale green background pointing up and to the right, symbolizing growth stocks"><div>Source: shutterstock.com/ex_artist</div></div>Tetra Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/tti-stock-quote/">TTI</a>) provides completion fluids and water management services to oil and gas producers. After a turbulent stretch, TTI appears back on solid financial ground. Although cooling since September&rsquo;s $6.50 peak, TTI remains well above 2021 lows.



Drilling into the numbers, TTI looks attractively priced. It trades at just <a href="https://seekingalpha.com/symbol/TTI/earnings/estimates" target="_blank">13x expected 2024 EPS</a> of $0.32. Looking further out, analysts forecast EPS to soar to $1.34 in 2026. That equates to a forward P/E of only 3x! TTI also has an intriguing lithium development project with ExxonMobil in Arkansas, diversifying beyond its oil/water recycling business.



If TTI executes and grows long-term profits as projected, I believe its stock remains heavily discounted. <a href="https://investorplace.com/industries/energy/">Energy stocks</a> carry risks, but TTI&rsquo;s upside outweighs the downside from current levels in my view. I wouldn&rsquo;t be shocked to see TTI deliver multibagger returns if management delivers.



<h2>HIVE Blockchain Technologies (HIVE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/blockchain-2-300x169.jpg" alt="An abstract concept image for blockchain and cryptocurrencies."><div>Source: Shutterstock</div></div>HIVE Blockchain Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/hive-stock-quote/">HIVE</a>) is a traditional Bitcoin miner, holding a sizable stash of Bitcoin while expanding its mining fleet aggressively. Yet the stock trades sideways, leading me to believe a breakout looms as Bitcoin rises. HIVE&rsquo;s stock price mirrors June 2022 levels despite surging mining capacity. It&rsquo;s one of those penny stocks to consider.



Expanding over 4 exahashes of mining power since last month should bolster HIVE&rsquo;s <a href="https://hivedigitaltechnologies.com/news/hive-digital-announces-bitcoin-production-and-hodl-growth-in-february-2024-to-2131-bitcoins/" target="_blank">200 Bitcoin mined in February</a>. With 10% higher Bitcoin reserves reaching 2,131 coins, HIVE seems prepared for this year&rsquo;s halving and climbing mining difficulty. Once markets recognize HIVE&rsquo;s underlying growth, I expect significant upside.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/7-penny-stocks-that-can-make-you-a-millionaire-in-one-year/">7 Penny Stocks That Can Make You a Millionaire in One Year</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Penny Stocks That Can Make You a Millionaire in One Year

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If you have a high risk tolerance and are seeking supersized returns in the stock market, <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> should be at the top of your watchlist. While the bad reputation penny stocks have is often justified, by avoiding biotech and cash-burning companies, you can find some real gems trading at bargain valuations. These discounted businesses could potentially deliver multibagger returns within a year or less once Wall Street takes notice.



Of course, betting on penny stocks does come with some near-term risks. However, the prospect of exponential gains generally outweighs the downside when you select quality, undervalued companies that are already profitable or have enough cash reserves to sustain operations until profitability. The keys are finding penny stocks with solid growth potential and minimal dilution risk. Here are seven to look into:



<h2>Kneat.com (KSIOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/penny-stocks-300x169.png" alt="Stacks of pennies representing penny stocks. Nano-Cap Penny Stocks"><div>Source: John Brueske / Shutterstock.com</div></div>Kneat.com (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ksiof-stock-quote/">KSIOF</a>) is a software platform used by scientists and engineers in the life sciences industry to help manage and digitize important processes like validation, which ensures that equipment and systems work correctly. Kneat&rsquo;s paperless validation software is utilized by 8 of the world&rsquo;s top 10 pharmaceutical companies, which to me highlights the sticky and loyal customer base that makes this penny stock one of the most stable I&rsquo;ve encountered.



KSIOF handily beat Q4 estimates recently by surpassing EPS expectations by 20% and beating revenue estimates by 4%. In my view, this exemplifies the company&rsquo;s consistency and steady execution. Looking ahead, analysts expect strong growth for Kneat with projected <a href="https://seekingalpha.com/symbol/KSIOF/earnings/estimates" target="_blank">annual revenue growth of around 40%</a> over the next five years. Yet despite this robust outlook, the stock currently trades at just 6.6 times sales, which seems inexpensive for a SaaS company with so much runway left. This makes it one of those penny stocks to buy.



In 2023, total revenues grew 44%, SaaS revenue expanded 73% and annual recurring revenue increased 55%. The company won most of these big customer deals well before last year, underscoring that the growth was organic. This leads me to believe Kneat is among the safer penny stocks you can purchase today that still offers huge upside potential from current levels.



<h2>Spire Global (SPIR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/penny-stocks-1600-300x169.jpg" alt="A concept image of a penny sitting on a stock chart"><div>Source: Billion Photos / Shutterstock.com</div></div>Spire Global (NYSE:<a href="https://investorplace.com/stock-quotes/spir-stock-quote/">SPIR</a>) is a satellite data company that tracks critical information like weather patterns along with ship movements, trade flows, and anti-piracy operations.



In Q4 <a href="https://www.google.com/finance/quote/SPIR:NYSE" target="_blank">net loss margins improved by 44%</a> year-over-year alongside 24% revenue growth. If Spire can continue expanding margins at this clip alongside consistent top-line growth, I think it can easily deliver multibagger returns over the next few years. Even after the sell-off, SPIR trades at just 2x forward sales despite <a href="https://seekingalpha.com/symbol/SPIR/earnings/estimates" target="_blank">expectations for 30%+ revenue growth</a> annually. Profitability is expected next year.



A key factor that gives me conviction in Spire&rsquo;s long-term promise is its federal business of providing satellite data insights to defense organizations. This segment should see steady demand growth given heightened geopolitical tensions worldwide. Spire operates the second-largest commercially owned satellite fleet globally. Satellite and <a href="https://investorplace.com/industries/industrial/space/">space stocks</a> generally trade at far richer valuations than SPIR currently.



<h2>SurgePays (SURG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-finding-magnify-300x169.jpg" alt="A hand holding a magnifying glass over pennies. under-$1 stocks to buy"><div>Source: Shutterstock</div></div>SurgePays (NASDAQ:<a href="https://investorplace.com/stock-quotes/surg-stock-quote/">SURG</a>) is a fintech company providing services like prepaid wireless plans, reloadable debit cards, and other financial offerings to the underbanked demographic. While SURG certainly has upside potential, it&rsquo;s important to note the stock has <a href="https://investorplace.com/2024/03/why-is-surgepays-surg-stock-down-27-today/" target="_blank">plunged nearly 30%</a> recently after missing Q4 estimates. It now trades down at penny stock levels, but I still see good value for long-term investors despite the near-term underperformance.



Yes, SURG could fall further in the coming months. However, I ultimately think SurgePays is attractively priced for the long run, especially since much of the negativity seems tied to fears over the Affordability Connectivity Program (ACP) potentially ending. This risk appears quite priced in now.



I also believe that even if ACP subsidies are removed, people won&rsquo;t simply abandon their internet which has become a basic necessity. Plus, the ACP currently benefits 20 million Americans, and the White House has already called for its renewal. If ACP gets extended, SURG could easily deliver multibagger upside literally overnight. At just 3.4x forward earnings and 0.64x sales, I think the risk-reward skews substantially to the upside. Ending subsidies to 20 million Americans in an election year does not seem like a move this administration would like to make.



<h2>Iris Energy (IREN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/michelangelo-hands-bitcoin-1600-300x169.jpg" alt="Hands mimicking Michelangelo pose from Sistine Chapel, with one hand holding a Bitcoin (BTC) coin and another hand reaching for the coin against a purple backdrop"><div>Source: shutterstock.com/Unknown man</div></div>Iris Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/iren-stock-quote/">IREN</a>) is not your typical energy company but rather operates as a Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) miner. I&rsquo;ve been bullish on Bitcoin mining stocks for months now, and I think it&rsquo;s a prime time to scoop them up before the upcoming halving sends Bitcoin surging and boosts miners. Many investors shun Bitcoin miners currently due to fears that the halving will cut their mining revenue. However, miners have aggressively expanded operations ahead of the halving. They also hold sizable Bitcoin reserves gaining value daily.



What makes IREN unique is it immediately sells all mined Bitcoin rather than holding it speculatively. IREN&rsquo;s <a href="https://irisenergy.gcs-web.com/news-releases/news-release-details/iren-announces-monthly-investor-update-february-2024" target="_blank">cost per Bitcoin mined is $20,158</a>, so I believe substantial gains are still ahead as Bitcoin climbs. The miner also recently updated <a href="https://irisenergy.gcs-web.com/news-releases/news-release-details/iren-provides-20-ehs-expansion-update" target="_blank">guidance to expand capacity to 20 EH/s</a> this year, up from 7 EH/s. More profitable miners do exist that hold Bitcoin, but I don&rsquo;t think that will prevent IREN from benefiting from this bull market.



<h2>Century Casinos (CNTY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-1-300x169.png" alt="Explore the stock market trends for 2024 with analytical visuals of businessman planning long term investments and future business growth, Navigate towards success with smart strategies. growth stocks with millionaire potential"><div>Source: Thapana_Studio / Shutterstock.com</div></div>Century Casinos (NASDAQ:<a href="https://investorplace.com/stock-quotes/cnty-stock-quote/">CNTY</a>) is undoubtedly depressed currently. The stock chart is ugly after falling from pre-pandemic levels around $8-10 to today&rsquo;s $3 per share. But for hunting multibagger gains in a year, CNTY looks attractive. The casino operator faces increased competition in key markets like Reno and Maryland where ramp-up has been slower than anticipated. CNTY also runs four casinos on cruise lines alongside its 11 land casinos.



The pandemic shutdown forced CNTY to take on over $1 billion in debt. Ongoing interest expenses have led to steep losses. However, CNTY&rsquo;s $189 million cash position seems sufficient to endure losses until rates decline and profitability returns, likely by 2025. While a near-term gamble with earnings on March 14, sales are expected to keep <a href="https://seekingalpha.com/symbol/CNTY/earnings/estimates" target="_blank">growing 27.5% in 2023 and 13.2%</a> in 2024. If CNTY stages a turnaround, I expect multibagger upside.



<h2>Tetra Technologies (TTI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/arrow-graphic-growth-stocks-1600-300x169.jpg" alt="Graphic of green and blue arrow against pale green background pointing up and to the right, symbolizing growth stocks"><div>Source: shutterstock.com/ex_artist</div></div>Tetra Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/tti-stock-quote/">TTI</a>) provides completion fluids and water management services to oil and gas producers. After a turbulent stretch, TTI appears back on solid financial ground. Although cooling since September&rsquo;s $6.50 peak, TTI remains well above 2021 lows.



Drilling into the numbers, TTI looks attractively priced. It trades at just <a href="https://seekingalpha.com/symbol/TTI/earnings/estimates" target="_blank">13x expected 2024 EPS</a> of $0.32. Looking further out, analysts forecast EPS to soar to $1.34 in 2026. That equates to a forward P/E of only 3x! TTI also has an intriguing lithium development project with ExxonMobil in Arkansas, diversifying beyond its oil/water recycling business.



If TTI executes and grows long-term profits as projected, I believe its stock remains heavily discounted. <a href="https://investorplace.com/industries/energy/">Energy stocks</a> carry risks, but TTI&rsquo;s upside outweighs the downside from current levels in my view. I wouldn&rsquo;t be shocked to see TTI deliver multibagger returns if management delivers.



<h2>HIVE Blockchain Technologies (HIVE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/blockchain-2-300x169.jpg" alt="An abstract concept image for blockchain and cryptocurrencies."><div>Source: Shutterstock</div></div>HIVE Blockchain Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/hive-stock-quote/">HIVE</a>) is a traditional Bitcoin miner, holding a sizable stash of Bitcoin while expanding its mining fleet aggressively. Yet the stock trades sideways, leading me to believe a breakout looms as Bitcoin rises. HIVE&rsquo;s stock price mirrors June 2022 levels despite surging mining capacity. It&rsquo;s one of those penny stocks to consider.



Expanding over 4 exahashes of mining power since last month should bolster HIVE&rsquo;s <a href="https://hivedigitaltechnologies.com/news/hive-digital-announces-bitcoin-production-and-hodl-growth-in-february-2024-to-2131-bitcoins/" target="_blank">200 Bitcoin mined in February</a>. With 10% higher Bitcoin reserves reaching 2,131 coins, HIVE seems prepared for this year&rsquo;s halving and climbing mining difficulty. Once markets recognize HIVE&rsquo;s underlying growth, I expect significant upside.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/7-penny-stocks-that-can-make-you-a-millionaire-in-one-year/">7 Penny Stocks That Can Make You a Millionaire in One Year</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Imagine turning a modest $10,000 investment into a cool $1 million &ndash; that&rsquo;s the dream, isn&rsquo;t it? While such a goal may sound far-fetched, the reality is there are thousands of companies in the U.S. alone with over $1 billion in market capitalization today. What if you could have invested in one of those behemoths before they took off and became a household name? You&rsquo;d definitely be sitting on a millionaire-maker return right about now.



That&rsquo;s easier said than done, of course. Identifying the next big disruptor before Wall Street catches on is no easy feat. But that doesn&rsquo;t mean we should give up the search entirely. There are still plenty of promising candidates out there with robust financial footing and mouth-watering growth prospects ahead.



That said, we need to temper our expectations a bit. Even if these hypergrowth stocks don&rsquo;t go on to land massive contracts or dominate their industries, companies with sustainable balance sheets and a credible growth outlook can still deliver enormously lucrative gains for early investors.



With that in mind, I&rsquo;ve handpicked three hypergrowth stocks currently trading under $10 that could potentially turn your $10,000 stake into a cool $1 million by 2030 if they hit it big. Now, are the odds of a 100-bagger return in their favor? Probably not. But these hypergrowth stocks are definitely worth a look for the risk-tolerant investor seeking an asymmetric payoff. Let&rsquo;s dive in!



<h2>K92 Mining (KNTNF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/gold1600-300x169.jpg" alt="An image of multiple gold bars. Gold prices"><div>Source: Shutterstock</div></div>K92 Mining (OTCMKTS:<a href="https://investorplace.com/stock-quotes/kntnf-stock-quote/">KNTNF</a>) is a Canadian gold producer operating the high-grade Kainantu mine in Papua New Guinea. What immediately catches my eye is the company&rsquo;s laser-sharp focus on ramping up production and making game-changing discoveries through an aggressive exploration program. With multiple drill rigs actively probing the region&rsquo;s rich mineral potential, I can&rsquo;t help but get excited about the prospects with K92.



But it&rsquo;s not just the growth strategy that has me intrigued &ndash; the company&rsquo;s financials are equally compelling. K92 reported a <a href="https://www.investing.com/news/stock-market-news/earnings-call-k92-mining-reports-record-production-and-revenue-93CH-3362475">record Q4 2023 production of 39,101 gold equivalent ounces</a>, including copper and silver byproducts. More impressively, their <a href="https://www.gurufocus.com/term/operatingmargin/KNTNF/Operating-Margin-/K92-Mining">operating margin clocks in at a robust 28%</a>, putting them in the top tier of mining peers. However, it&rsquo;s the rock-solid balance sheet that truly seals the deal for me, boasting over 16 times more cash than debt.



When you combine that financial fortitude with Papua New Guinea&rsquo;s low-cost mining environment and the sheer size of the country&rsquo;s mineral wealth (it ranks 17th globally in gold production), the potential for explosive returns becomes glaringly apparent. In fact, analysts see K92&rsquo;s revenue rocketing from <a href="https://seekingalpha.com/symbol/KNTNF/earnings/estimates">$230 million in 2024 to a staggering $850 million in 2028</a> on the back of their ambitious expansion plans. And if the valuation gurus at GuruFocus have it right, we could be looking at a fair price north of $22.50 per share by late 2026 &ndash; more than quadrupling the current stock quote as I write this.



<h2>Kneat.com (KSIOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/software1600d-300x169.jpg" alt="A man examines a digital screen with different icons for software."><div>Source: Shutterstock</div></div>Kneat.com (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ksiof-stock-quote/">KSIOF</a>) is a leading software provider &ndash; particularly for the biotech, pharmaceutical, and medical device sectors. Their flagship Kneat Gx platform is a configurable validation lifecycle management solution tailor-made for this scrutiny-intensive sector.



What immediately stands out to me is the impressive customer roster Kneat has assembled. A remarkable eight of the world&rsquo;s top 10 pharmaceutical giants have embraced their paperless validation software. For a penny stock, that level of blue-chip penetration is very reassuring.



The company recently delivered a handsome beat, surpassing Q4 earnings per share estimates by 20% and revenue projections by 4%. Looking ahead, the company&rsquo;s growth trajectory appears tremendously promising, with analysts forecasting <a href="https://seekingalpha.com/symbol/KSIOF/earnings/estimates">annual revenue expansion of around 40%</a> over the next five years. Yet, despite this robust outlook, the stock currently trades at just 6.5-times sales &ndash; an undeniably inexpensive multiple for a SaaS company with such an extensive runway ahead.



It&rsquo;s hard to find many safer <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> that still offer such immense upside potential from current levels.



<h2>PayPoint (PYPTF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/smartphone-mobile-financial-fintech-1600-300x169.jpg" alt="Illustration of phone with dollar sign and other graphics symbolizing fintech displayed on and around it, with a blue background. Fintech Stock Bargains"><div>Source: shutterstock.com/ZinetroN</div></div>PayPoint (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pyptf-stock-quote/">PYPTF</a>) is connecting millions of consumers through over 60,000 retailer partners and SME locations across the U.K.



From secure mobile and online multi-channel payment solutions to in-store services and e-commerce integration, PayPoint&rsquo;s comprehensive suite of offerings has struck a chord with businesses seeking seamless digital transformation. And the growth figures speak for themselves &ndash; the company reported a blistering <a href="https://www.google.com/search?q=paypoint+stokc&amp;client=opera-gx&amp;sca_esv=d43f5111e59e559f&amp;ei=TeYfZvaECI6cseMPhdy7wAU&amp;ved=0ahUKEwi23_n-w8mFAxUOTmwGHQXuDlgQ4dUDCBA&amp;uact=5&amp;oq=paypoint+stokc&amp;gs_lp=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&amp;sclient=gws-wiz-serp#wptab=si:AKbGX_qBrLyCzCpFPC2_djaeWIJwf4LAlVteTAoaKeWDjmzBC89ssn3tREexSkdEO0pLUtK85ihin9nYhEAUDMy9YYfp2-CSCFN_-fkLS0tiZokRtxSjVzMr_bJ-GvodGDU2S8FHWTlZDSFr-LaT1a78Jx144WnxoQ%3D%3D">62% year-over-year revenue surge in Q3</a> 2023. Analysts expect <a href="https://seekingalpha.com/symbol/PYPTF/earnings/estimates">36% top-line growth in 2024</a>, though that number is at risk of slowing quickly.



The stock has retraced more than 52% from its 2020 peak amid the broader market turmoil. Still, this presents a compelling opportunity to buy into a rapidly emerging fintech pioneer at a discounted valuation, especially as PayPoint continues expanding its client footprint across the U.K. and potentially around the world.



Penny Stocks



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/" target="_blank">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&nbsp;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">How to Profit Without Getting Scammed</a>



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-hypergrowth-stocks-under-10-that-can-turn-10000-into-1-million-by-2030/">3 Hypergrowth Stocks Under $10 That Can Turn $10,000 Into $1 Million by 2030</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Hypergrowth Stocks Under $10 That Can Turn $10,000 Into $1 Million by 2030

kneat.com, inc. (KSIOF) Q1 2024 Earnings Call Transcript

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The stock market rally has been showing no sign of stopping, and while most of it has been driven by Big Tech, it is worth looking into some little-known <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>. These stocks usually see huge breakouts and trade at big premiums during bullish rallies. We haven&rsquo;t seen that happen across most penny stocks just yet, but I think it&rsquo;s a good reason to buy up some high-potential names if you are willing to stomach the risks.



Of course, many of these penny stocks are more than just short- to mid-term plays. Most of these up-and-coming firms have huge growth runways, and analysts expect explosive growth over the next decade. If they execute as expected, I believe it is possible that they could turn a $10k investment into something life-changing. Let&rsquo;s take a look!



<h2>OptiNose (OPTN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/droplet-test-tube-biotech-1600-3-300x169.jpg" alt="Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotech"><div>Source: shutterstock.com/Romix Image</div></div>OptiNose (NASDAQ:<a href="https://investorplace.com/stock-quotes/optn-stock-quote/">OPTN</a>) is a specialty pharmaceutical company focused on developing products for patients with diseases treated by otolaryngologists and allergists. I&rsquo;ve been closely watching this little-known penny stock, and I believe it could be a potential hidden gem for risk-tolerant investors.



Their lead product, XHANCE, has shown strong efficacy in treating chronic sinusitis, which, according to their market research, is a key driver of prescribing behavior.



OptiNose is admittedly a speculative bet, but I think the potential payoff could be substantial. The stock has been stuck trading around the $1 level for over a year, but with these promising developments, I wouldn&rsquo;t be surprised to see a breakout if they can execute well.



What I particularly like about OptiNose is its solid and rapidly growing sales base. Analysts are projecting revenue to skyrocket from <a href="https://seekingalpha.com/symbol/OPTN/earnings/estimates" target="_blank">$92 million in 2024 to $342 million by 2028</a>, with profitability expected by 2026.



<div><a href="https://investorplace.com/wp-content/uploads/2024/07/chart-9.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/07/chart-9.png" alt="penny stocks: OptiNose operating profits"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>If everything goes according to plan, the stock is trading at just 3 times 2027 earnings estimates right now.



Of course, the key question is whether their growth plans will play out as hoped. Biotech and pharma startups are always a risky bet. But OptiNose seems to have weathered the worst and has a strong foundation upon which to build. This beaten-down stock could be a hidden multibagger in the making. Just be sure to do your own diligence.



<h2>Unusual Machines (UMAC)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2019/04/dronesmsn-300x165.jpg" alt=""><div>Source: Shutterstock</div></div>Unusual Machines (NYSEMKT:<a href="https://investorplace.com/stock-quotes/umac-stock-quote/">UMAC</a>) manufactures drones and drone components. I&rsquo;m very bullish on drone startups like Unusual Machines. There simply aren&rsquo;t enough of these companies in the U.S. right now, especially ones focused on producing inexpensive military drones for reconnaissance and combat purposes.



Most of those cheaper military drones are currently mass-produced in China and Russia. Meanwhile, the U.S. relies on a handful of giant defense contractors making very expensive drones. I believe this supply chain vulnerability is becoming increasingly apparent to governments worldwide. They&rsquo;re scrambling to ink deals with promising upstart drone makers to diversify their sources.



That&rsquo;s where Unusual Machines comes in. Sure, with just <a target="_blank" href="https://www.stocktitan.net/news/UMAC/">$619,000 in sales</a> (the sales were made in just 45 days) last quarter, it&rsquo;s tiny and unprofitable. However, after a recent $5 million IPO and acquiring key operating units like Fat Shark and Rotor Riot, this Red Cat Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/rcat-stock-quote/">RCAT</a>) spinoff has big potential, in my view. Management is moving fast to start churning out NDAA-compliant drone parts from its new Orlando headquarters.



If it can secure those critical &ldquo;Blue UAS&rdquo; certifications soon, lucrative government contracts could follow and really jumpstart growth. Of course, this is an extremely speculative play. I&rsquo;m banking on a rosy future that may not materialize. UMAC is only suitable if you seriously want to turn $10k into a million and take on the risks that come with it.



<h2>High Tide (HITI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/cannabis-stocks1600-3-300x169.png" alt="scientist checking organic hemp wild plants in a cannabis weed commercial greenhouse. Concept of herbal alternative medicine, cbd oil, pharmaceutical industry. Cannabis stocks, FLGC stocks"><div>Source: Chokniti-Studio / Shutterstock.com</div></div>High Tide (NASDAQ:<a href="https://investorplace.com/stock-quotes/hiti-stock-quote/">HITI</a>) operates as a retail-focused cannabis company. I covered this little-known penny stock over a year ago, and it&rsquo;s already up by a whopping 80% since then, but I believe High Tide still has substantial upside potential. High Tide generated <a target="_blank" href="https://www.tipranks.com/news/company-announcements/high-tide-achieves-record-q2-financial-milestones">9.4 million CAD in free cash flow in Q2</a>, more than the prior two quarters combined. It&rsquo;s a rare gem in the cannabis space that isn&rsquo;t burning cash and is on the cusp of sustained profitability.



Once High Tide firmly establishes consistent earnings and accelerates its expansion, I expect this stock could deliver multibagger returns from current levels based solely on the Canadian market opportunity. However, the real game-changer would be U.S. federal cannabis legalization. High Tide already has a footprint in the U.S. but operates with restraints.



<div><a href="https://investorplace.com/wp-content/uploads/2024/07/chart-10.png"><img width="1226" height="741" src="https://investorplace.com/wp-content/uploads/2024/07/chart-10.png" alt="High Tide sales by region chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>If it can replicate its Canadian success in a market 10 times larger, this under-the-radar stock could turn a $10k investment into something much more meaningful.



<h2>Blackline Safety (BLKLF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/fr_firstindustrial1600-300x169.png" alt="Back View of the Head of the Project Holds Laptop and Discussing Product Details with Chief Engineer while They Walk Through Modern Factory., FR rents out these spaces in the U.S."><div>Source: Gorodenkoff / Shutterstock.com</div></div>Blackline Safety (OTCMKTS:<a href="https://investorplace.com/stock-quotes/blklf-stock-quote/">BLKLF</a>) is a Canadian industrial safety company that is riding the wave of onshoring and industrialization. Shares have already surged 150% from their late-2022 trough, but I think there&rsquo;s plenty of room for this rebound to run. The stock still trades nearly 40% below its February 2020 peak despite the company being perfectly positioned to capitalize on the manufacturing renaissance in the U.S. and Canada.



As companies bring production closer to home, they must ensure their facilities meet the rigorous safety standards in these markets. That&rsquo;s where Blackline shines. Its connected safety technology is already seeing booming demand, with <a target="_blank" href="https://www.morningstar.com/news/business-wire/20240613677452/blackline-safety-reports-highest-quarterly-revenue-ever-q2-hits-316m-up-31-year-over-year">revenue jumping 31% YOY to a record $31.6 million</a> in Q2.



Blackline achieved this growth while also expanding its gross margins to 57% and slashing its cash burn by 78%. This tells me that as the company scales up to meet the surging need for industrial safety, its bottom line could boom.



So, while Blackline may be under the radar now, I believe it&rsquo;s a hidden gem that won&rsquo;t stay hidden for long.



<h2>Talkspace (TALK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/01/talkspace-300x169.jpg" alt="The Talkspace (TALK) logo is displayed on a smartphone screen."><div>Source: Ben__Stevens / Shutterstock.com</div></div>Talkspace (NASDAQ:<a href="https://investorplace.com/stock-quotes/talk-stock-quote/">TALK</a>) is a leading virtual behavioral health company that connects individuals with licensed therapists through its platform. While telemedicine stocks were all the rage during the COVID-19 pandemic, Talkspace&rsquo;s shares have been on a wild ride since going public. After a sharp decline, the stock surged nearly 500% from Q1 2023 to Q1 2024 before recently pulling back around 43%. I believe this presents an attractive entry point.



In Q1 2024, Talkspace delivered <a target="_blank" href="https://www.investing.com/news/stock-market-news/earnings-call-talkspace-reports-profitability-in-q1-with-revenue-growth-93CH-3427451">36% YOY revenue growth to $45.4 million</a> and achieved its first quarter of profitability with an $800,000 adjusted EBITDA. Management&rsquo;s execution on expanding covered lives, and driving utilization is clearly paying off. The recent Medicare launch in multiple states offers another significant growth catalyst.



With profits expected in 2025, along with a <a target="_blank" href="https://seekingalpha.com/symbol/TALK/earnings/estimates">projected 26% sales growth</a> in 2024 and 17-20% annual increases thereafter, I see ample room for upside. Talkspace is well-positioned to benefit from powerful tailwinds. This includes the destigmatization of mental health and younger generations preferring to do everything online.



<h2>Kneat.com (KSIOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/pte_biotech_1600-300x169.png" alt="Medical technology network team meeting concept. Doctor hand working smart phone modern digital tablet laptop computer graphics chart interface, sun flare effect photo, PTE"><div>Source: everything possible / Shutterstock.com</div></div>Kneat.com (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ksiof-stock-quote/">KSIOF</a>) provides software validation solutions for the life sciences industry. The stock has rebounded significantly, up 37% in the past six months alone. I believe Kneat is well-positioned to benefit from the plethora of biotech startups that need validation software to ensure compliance with industry regulations.



In Q1, Kneat&rsquo;s annual recurring revenue <a target="_blank" href="https://financialpost.com/globe-newswire/kneat-announces-record-revenue-for-first-quarter-2024">jumped an impressive 57% to 42.1 million CAD</a>. The gross profit margin expanded from 67% to a robust 74%, while operating expenses grew at a much more modest 17% pace compared to the 77% surge in Q1 2023.



Management noted they are landing major new customer wins across North America, Europe, and Asia, which are fueling the growth. However, the real potential lies in expanding these relationships over time. As Kneat becomes ingrained and trusted within organizations, it can multiply its revenue per customer.



GuruFocus&rsquo; DCF model believes the stock will compound through 2026.



<div><a href="https://investorplace.com/wp-content/uploads/2024/07/chart-11.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/07/chart-11.png" alt="KSIOF gurufocus price"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div><h2>One Stop Systems (OSS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/computers1600d-300x169.jpg" alt="a man working on a computer hard drive"><div>Source: Shutterstock</div></div>One Stop Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/oss-stock-quote/">OSS</a>) designs and manufactures high-performance edge computing systems for AI and other applications. Despite seeing a <a target="_blank" href="https://www.marketbeat.com/stocks/NASDAQ/OSS/earnings/">24.6% YOY revenue decline to $12.65 million</a> in Q1 2024, I believe OSS is poised for a strong rebound as AI takes off.



The company has done a stellar job shifting its focus to the booming defense and commercial markets, especially for AI and machine learning at the edge. CEO Mike Knowles <a target="_blank" href="https://markets.businessinsider.com/news/stocks/one-stop-systems-oss-strong-buy-rating-on-ai-pivot-and-long-term-growth-potential-1033188679">noted</a> OSS has expanded its 5-year pipeline to over $1 billion, with 70% from multi-year platform opportunities that should drive more predictable revenue.



While the near-term upside may be limited as many AI/ML applications are still in development and testing phases, I&rsquo;m confident OSS is very well-positioned for the coming wave. HPC and enterprise computing needs are exploding as AI startups proliferate, and transformative systems like OpenAI&rsquo;s Sora could send demand soaring even higher.



OSS is admittedly a high-risk, high-reward bet in this nascent industry. But for investors willing to stomach the volatility, I believe getting in early on OSS&rsquo;s turnaround story could deliver incredible returns if the AI rally keeps charging ahead in the years to come.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/7-little-known-penny-stocks-that-can-turn-10k-into-1-million/">7 Little-Known Penny Stocks That Can Turn $10K Into $1 Million</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Little-Known Penny Stocks That Can Turn $10K Into $1 Million

BLKLF

CNTY

HITI

HIVE

IREN

KNTNF

KSIOF

OPTN

PYPTF

RCAT

SPIR

SURG

TALK

UMAC

Press Releases

Kneat Announces Closing of $20 Million Bought Deal Including Full Exercise of Over-Allotment Option

Earnings

Kneat Announces Record Revenue for Fourth Quarter and Full Year 2023

Contracts

Global Healthcare Leader Selects Kneat

Presenting on the Emerging Growth Conference 68 Day 1 on March 6 Register Now

Presenting on the Emerging Growth Conference 68 Day 2 on March 7 Register Now

Kneat to Announce 2024 First Quarter Financial Results May 8, 2024

Kneat Announces Record Revenue for First Quarter 2024

Kneat Announces Results of Voting at Annual General Meeting

Kneat to Present at the Small-Cap Growth Virtual Investor Conference June 13th

Kneat and Körber Pharma Consulting Partner to Accelerate Life Sciences Digitalization

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