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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;
Trending: Here&#8217;s the AI-powered startup that turns traders into influencers achieving 12% monthly growth –<a href="https://www.benzinga.com/money/xtrades"> invest in it at only 10 cents per share.</a>
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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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.

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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.
<hr class="wp-block-separator has-alpha-channel-opacity" />
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<hr class="wp-block-separator has-alpha-channel-opacity" />
&#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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Real Estate

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.
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Image: Benzinga edit with&nbsp;Lazyllama by Shutterstock and jenaragon94 Wikimedia Commons.
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Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

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;
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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>
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<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>
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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

Media

'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>
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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."
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<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>
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</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

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

Cryptocurrency

$BTC

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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
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;
<ul>
<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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
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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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

AAPL

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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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39900472/rich-dad-poor-dad-author-robert-kiyosaki-predicts-bitcoin-gold-and-silver-prices-will-soar">&#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Predicts Bitcoin, Gold, And Silver Prices Will Soar If Trump Wins 2024 Election</a></li>
</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>
</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

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

Former White House Communications Director Anthony Scaramucci humorously thanked Donald Trump's <a href="https://www.benzinga.com/general/politics/24/07/39780777/trump-picks-senator-j-d-vance-as-running-mate-musk-says-great-choice-for-vp">running mate</a>, JD Vance (R-Ohio), for taking his place as the worst hire of the former president.
What Happened: Scaramucci expressed his gratitude to Vance for ousting him from the position of the worst Trump hire, in a post on Friday on social media platform X, formerly Twitter.
&#8220;I just want to personally thank JD Vance for knocking me out of the position of the worst Donald Trump hire. I didn't think it would happen but here we are and I am grateful.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just want to personally thank <a href="https://twitter.com/JDVance?ref_src=twsrc%5Etfw">@JDVance</a> for knocking me out of the position of the worst Donald Trump hire. I didn't think it would happen but here we are and I am grateful. &#x1f64f;
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1816928720894169307?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/23/11/35952778/former-doj-attorney-calls-marjorie-taylor-greenes-new-book-score-settling-fiction-that-reads-like-an?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-DOJ Attorney Calls Marjorie Taylor Greene&#8217;s New Book &#8216;Score-Settling Fiction&#8217;</a>
Scaramucci&#8217;s post comes amidst <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">growing speculation</a> about Vance&#8217;s position as Trump&#8217;s Vice Presidential candidate due to his underwhelming polling and the rising momentum of Vice President Kamala Harris.
Why It Matters: Scaramucci has been vocal about his disapproval of Vance as Trump&#8217;s running mate. He <a href="https://www.benzinga.com/news/24/07/39854646/anthony-scaramucci-says-jd-vances-quest-to-wall-us-off-from-rest-of-world-could-be-an-economic-disas">previously stated</a> that Vance&#8217;s economic policies could lead to a disaster for the United States and the world.
He also <a href="https://www.benzinga.com/news/24/07/39787296/first-obvious-error-by-trump-after-winning-nomination-says-anthony-scaramucci-of-ex-president-picks">criticized</a> Trump&#8217;s decision to pick Vance as his running mate, calling it the &#8220;first obvious error&#8221; by Trump after winning the nomination.
Vance has also <a href="https://www.benzinga.com/news/24/07/39784888/aoc-mocks-trump-vp-choice-j-d-vance-for-tweet-connecting-fertility-rate-with-daylight-saving-time">come under criticism</a> for his past social media activity, with Rep.&nbsp;Alexandria Ocasio-Cortez&nbsp;(D-N.Y.) highlighting a post made by Trump's running mate linking fertility rates with daylight savings time.
Vance reportedly wrote on November 1, 2020: "As a parent of young children and a nationalist who worries about America's low fertility I can say with confidence that daylight savings time reduces fertility by at least 10 percent."
Vance later said this post was a joke.
Read Next:
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<li><a href="https://www.benzinga.com/general/politics/24/01/36877020/robert-f-kennedy-jr-doesnt-want-to-be-trumps-vice-president-pick-heres-why?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Robert F. Kennedy Jr. Doesn&#8217;t Want To Be Trump&#8217;s Vice President Pick, Here&#8217;s Why</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Al Teich on Shutterstock

Former White House Official Anthony Scaramucci Mocks JD Vance, Says Thank You For 'Knocking Me Out Of The Position Of The Worst Donald Trump Hire'

Deepwater Asset Management&#8217;s managing partners, Gene Munster and Doug Clinton have <a href="https://www.businessinsider.in/tech/news/openais-new-searchgpt-prototype-is-a-declaration-of-war-against-google/articleshow/112024630.cms">downplayed concerns</a> that Alphabet Inc.&#8217;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>) Google Search could be outdone by OpenAI&#8217;s SearchGPT.
What Happened: On Friday, Munster took to X, formerly Twitter, and said, &#8220;Since it&#8217;s only a 15-second video, it&#8217;s hard to see why SearchGPT is 10x better than Google AI Overviews.&#8221;
He went on to say that in the near term, this revives fears among Google investors that AI could threaten search. However, if the product&#8217;s capabilities are limited to what&#8217;s shown in the teaser, Google is not in any significant danger.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39922283/elon-musk-is-polling-x-and-asking-if-tesla-should-invest-5b-in-grok-parent-xai-this-is-just-to-test?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Polling X And Asking If Tesla Should Invest $5B In Grok Parent xAI: &#8216;This Is Just To Test The Waters&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Since its only a 15 second video, it&#39;s hard to see why SearchGPT is 10x better than Google AI Overviews. Near-term this revive fears from <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> investors that AI can kill search. If this is the product, Google is not in any meaningful danger. <a href="https://t.co/YX4Qa4Smac">https://t.co/YX4Qa4Smac</a>
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1816549429782151403?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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Doug Clinton, the other managing partner at Deepwater, concurred with Munster&#8217;s views. He said that although the SearchGPT video resulted in a minor dip in Google&#8217;s stock, it does not pose a substantial threat to Google&#8217;s AI.
&#8220;It didn&#8217;t seem 10x superior to what I&#8217;m observing&nbsp;from Google and AI overviews,&#8221; Clinton remarked in a separate video.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On this week&#39;s DeepTech315, <a href="https://twitter.com/dougclinton?ref_src=twsrc%5Etfw">@dougclinton</a> and I discuss <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> and <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> earnings, and OpenAI&#39;s new search product, SearchGPT. <a href="https://t.co/9cGt75OwAu">pic.twitter.com/9cGt75OwAu</a>
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1816565516309295351?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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Both partners concurred that unless SearchGPT can offer something unique or more than what was shown in the teaser, it&#8217;s difficult to see why users would switch from Google.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: On Thursday, Alphabet shares were trading lower after a <a href="https://www.benzinga.com/news/24/07/39968522/alphabet-stock-falls-as-openai-plans-searchgpt-what-investors-need-to-know">report suggested that OpenAI plans</a> to launch an online search tool called &#8220;SearchGPT&#8221; to disrupt Google's Search dominance.
Soon after, ChatGPT-parent, announced that it is testing SearchGPT, a temporary prototype of new AI search features. The launch is initially limited to a small group of users for feedback, with plans to integrate the experience into ChatGPT, the company stated.
Price Action: At the time of writing, Alphabet's Class A shares were down by 0.072% in after-hours trading to $166.88, while Class C shares dropped 0.018% to $168.65. During the regular session, Class A and Class C shares had closed at $167 and $168.68, respectively, according to<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">&nbsp;Benzinga Pro data</a>.
Check out more of Benzinga&#8217;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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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Google Photo by DenPhotos on Shutterstock

GOOG

GOOGL

Top Analyst Says OpenAI's AI-Powered Search Engine Likely Isn't A Threat To Google: 'It's Hard To See Why SearchGPT Is 10X Better…'

The much-anticipated initial public offering (IPO) of billionaire investor Bill Ackman&#8216;s Pershing Square closed-end fund has been postponed, as confirmed by the New York Stock Exchange (NYSE.)
What Happened: On Friday, the NYSE announced on its website that the listing of Pershing Square USA Ltd. has been delayed, with a new date yet to be disclosed. 
Pershing Square refrained from commenting further but issued a statement clarifying that the IPO is still proceeding, with the pricing date to be announced later.
See Also: <a href="https://www.benzinga.com/news/24/07/39947623/lindsey-graham-says-americans-are-struggling-and-our-country-is-heading-in-the-wrong-direction-repla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lindsey Graham Says &#8216;Americans Are Struggling, And Our Country Is Heading In The Wrong Direction&#8217;</a>
The delay comes amid Ackman&#8217;s concerns about the size of the transaction and the novelty of the structure. He expressed these concerns in a July 24 letter to investors, emphasizing the need for careful analysis and judgment from investors.
The fund is expected to invest in 12 to 24 large-cap, investment-grade, &#8220;durable growth&#8221; companies in North America. The public listing is seen as a move to leverage Ackman&#8217;s following among Main Street investors.
Why It Matters: The IPO delay follows a <a href="https://www.benzinga.com/news/24/07/39975768/bill-ackmans-us-fund-ipo-target-slashed-by-90-as-pershing-square-specifically-disclaims-ceos-comment">significant reduction in the fund&#8217;s targe</a>t, which was slashed by as much as 90% from the initial $25 billion. In a letter to investors in his Pershing Square holding company sent on Wednesday, Ackman urged, "This is a moment when you can be very helpful to Pershing Square by participating in the PSUS offering and giving your order to the banks, the sooner the better." However, Pershing Square USA "specifically disclaims" Ackman's statement in the filing that included the letter.
Inspired by Warren Buffett&#8216;s career, <a href="https://www.benzinga.com/news/24/07/39766570/bill-ackman-says-his-unofficial-mentor-warren-buffett-inspired-him-to-take-pershing-square-funds-pub">Ackman decided to take his funds public.</a> He planned to use his social media presence and a Buffett-like annual meeting to bolster his new investment fund.
Pershing Square USA is a closed-end fund set to be listed on the New York Stock Exchange, investing in large, publicly traded stocks that Ackman and his team believe are undervalued. Ackman had previously informed investors that he expected the company to trade at a premium compared to the net assets it held.
Despite the reduction in the IPO target, Ackman remains optimistic about the fund's potential, particularly with the involvement of U.S. retail investors and the&nbsp;<a href="https://www.benzinga.com/news/24/07/39811552/from-warren-buffett-style-annual-meetings-to-social-media-strategy-heres-how-bill-ackman-plans-to-bo" target="_blank" rel="noreferrer noopener">support of institutional investors</a>.
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</ul>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Harvard Association for Law and Business/ Tracy Tolf

IPOs

Bill Ackman's Warren Buffett-Inspired Strategy Hits A Snag? Pershing Square USA Delays IPO Indefinitely After Slashing Target By 90%

US Treasury Secretary Janet Yellen has strongly refuted allegations of manipulating the issuance of <a href="https://www.benzinga.com/topic/treasuries">Treasury securities</a>. These accusations were made by economist Nouriel Roubini who suggested that such manipulation was aimed at reducing real borrowing costs across the economy.
What Happened: Yellen dismissed Roubini&#8217;s argument that the Treasury had a strategy to ease financial conditions, in an <a href="https://www.bloomberg.com/news/articles/2024-07-26/yellen-rejects-roubini-claim-of-manipulation-in-treasuries">interview</a> with Bloomberg.
&#8220;I can assure you 100% that there is no such strategy. We have never, ever discussed anything of the sort,&#8221; Yellen said.
The paper, co-authored by Roubini and Stephen Miran, a former Treasury official under President Donald Trump, claimed that the Treasury&#8217;s actions in the fall of last year reduced 10-year Treasury yields by a quarter of a percentage point.
This is roughly equivalent to a full percentage point reduction in the Federal Reserve&#8217;s benchmark rate.
See Also: <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</a>
Joshua Frost, the Treasury&#8217;s assistant secretary for financial markets, defended the department&#8217;s actions, stating they were within market participants&#8217; expectations.
Yellen supported Frost&#8217;s statements, saying his speech provided the best explanation for the department&#8217;s approach.
Why It Matters: The allegations against Yellen come in the wake of a series of events that have put her in the spotlight.
Earlier this month, <a href="https://www.benzinga.com/government/24/07/39749545/trump-allies-slam-janet-yellen-for-manipulating-treasury-debt-auctions-to-improve-bidens-image">she was accused</a> by Republican lawmakers of manipulating Treasury debt auctions to stimulate the economy and enhance President Joe Biden‘s image. This latest development is a continuation of the scrutiny Yellen has been facing.
<a href="https://www.benzinga.com/government/24/05/38572650/janet-yellen-stands-up-for-feds-autonomy-as-trump-allies-plan-to-gain-more-control">Yellen also defended</a> the Federal Reserve&#8217;s political independence against attempts by Trump allies to undermine it.
In June, she <a href="https://www.benzinga.com/news/24/06/39348581/janet-yellen-dismisses-donald-trumps-proposal-to-replace-income-tax-with-tariffs-the-impact-would-be">publicly criticized Trump&#8217;s proposal</a> to replace parts of the U.S. income tax with increased tariffs on imported goods.
Later that month, she <a href="https://www.benzinga.com/government/24/06/39470021/janet-yellen-says-inflation-to-come-down-to-feds-2-target-by-2025-dismisses-possibility-of-us-recess">expressed confidence</a> in the American economy, dismissing the possibility of a recession and predicting that inflation would reach the Federal Reserve's 2% target by next year.
Read Next:
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<li><a href="https://www.benzinga.com/general/politics/24/07/39992709/kamala-harris-will-certify-2024-election-results-shes-not-going-to-burn-the-system-down-in-order?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Will Certify 2024 Election Results: &#8216;She&#8217;s Not Going To Burn The System Down In Order To Save It'</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Flickr

Treasuries

Economics

Janet Yellen Rejects Economist Roubini's And Trump-Era Official's Claims Of 'Manipulation' In Treasuries: 'We Have Never, Ever Discussed Anything Of The Sort'

Alphabet Inc.'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>) Google has severed its business ties with One Medical, a <a href="https://www.benzinga.com/topic/healthcare">primary healthcare provider</a> acquired by Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) for $3.9 billion.
What Happened: Google, previously One Medical&#8217;s largest business client, has decided to terminate its enterprise agreement with the healthcare company following Amazon&#8217;s acquisition of One Medical last year, <a href="https://www.businessinsider.com/google-drops-amazon-one-medical-2024-7">reported</a> Business Insider.
The agreement, which offered Google employees discounted or free One Medical memberships and operated One Medical care centers at some Google office locations, is set to expire at the end of 2024.
Google was an early supporter of One Medical and was its largest business customer for many years. Until 2020, One Medical disclosed that Google accounted for 10% of its net revenue.
In 2021, that dipped below 10%, and then One Medical stopped publicly sharing financials after Amazon acquired it.
See Also: <a href="https://www.benzinga.com/general/biotech/24/07/39940874/gileads-42-5k-priced-hiv-drug-could-be-made-at-just-40-annually-campaigners-urge-company-to-slash?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gilead&#8217;s $42.5K Priced HIV Drug Could Be Made At Just $40 Annually</a>
A Google spokesperson confirmed to the publication that the existing relationship with One Medical is changing after 2024 but stressed that the decision has nothing to do with Amazon&#8217;s new ownership of the healthcare provider.
The existing One Medical centers on Google&#8217;s campus have already transitioned to Premise Health to provide more services like pharmacy, gynecology, and coordinated care on-site, the spokesperson added.
An Amazon spokesperson told Business Insider that Google employees and their dependents will continue to have One Medical memberships &#8220;sponsored&#8221; by their employer through the end of 2024.
Why It Matters: The termination of Google&#8217;s business relationship with One Medical comes amid significant changes within the healthcare provider.
In September, CEO Amir Dan Rubin <a href="https://www.benzinga.com/news/23/09/34166966/amazons-one-medical-ceo-departs-amid-significant-leadership-shift">stepped down</a> from One Medical after six years at the helm, a little over a year after Amazon&#8217;s acquisition.
This leadership shift was followed by <a href="https://www.benzinga.com/general/biotech/24/02/36971965/amazon-implements-major-job-cuts-in-one-medical-and-pharmacy-units-to-save-100m">major job cuts</a> in February, as part of a cost-saving initiative aiming to save One Medical $100 million.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-">Apple Drops From 3rd To 6th In China Amid Intensifying Competition, Huawei Shipments Surge 41% In Q2: Report</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.
Photo courtesy: Amazon

Health Care

AMZN

Google Cuts Ties With Amazon-Owned One Medical, But Clarifies It Is Not Due To E-Commerce Giant's $3.9B Acquisition

Following President Joe Biden&#8217;s decision to <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39885549/biden-withdraws-from-2024-race-what-that-means-for-solana-etf-prospects">withdraw from the 2024 presidential race</a>, a poll conducted by The Wall Street Journal indicates that former President Donald Trump has a slight edge over Vice President Kamala Harris.
What Happened: The poll <a href="https://www.wsj.com/politics/elections/harris-erases-trumps-lead-wsj-poll-finds-e286144d?mod=e2tw">results</a> published on Friday revealed that Trump has the support of 49% of registered voters, while Harris trails slightly behind with 47%. The WSJ poll, conducted from July 23-25, surveyed 1,000 registered voters with a margin of error&nbsp;of ±3.1 percentage points.
The latest poll also showed a significant rise in Harris&#8217;s favorability among registered voters, jumping 11 points to 46%. In comparison, Trump&#8217;s favorability was at 47% and Biden&#8217;s at 39%.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un Rejects Donald Trump&#8217;s Friendship Claims? North Korea Says &#8216;We Do Not Care,&#8217; Expresses Nuclear Readiness Amid Rising Tension With US</a>
In a ballot test featuring Robert F. Kennedy Jr. alongside other independent and third-party candidates, Harris secured 45% of the vote, while Trump received 44%. Kennedy garnered just 4%, and 5% of voters remained undecided. 
In the last poll, Biden trailed by six points in the multicandidate contest, the report noted.
Why It Matters: The&nbsp;<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">race between Trump and Harris</a>&nbsp;is shaping up to be a close one, with Harris making up ground lost by Biden in head-to-head matchups against Trump. 
President Biden&#8217;s campaign was plagued by a lackluster debate performance and concerns about his age and mental fitness, leading to his withdrawal last week.
Since Biden&#8217;s exit, Harris has garnered several key endorsements from her party, experienced a surge in fundraising, and secured enough delegate commitments to secure the nomination.
Meanwhile, Trump has been&nbsp;<a href="https://www.benzinga.com/news/24/07/39947274/trump-takes-aim-at-kamala-harris-in-first-rally-post-bidens-exit-calls-her-a-radical-left-lunatic-vp">criticizing Harris</a>&nbsp;on immigration and inflation issues, labeling her as a &#8220;radical-left lunatic.&#8221;
There has also been speculation about whether Trump might&nbsp;<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 vice presidential candidate</a>, Sen. J.D. Vance, due to the latter&#8217;s underwhelming polling and Harris&#8217;s growing momentum. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/07/39975168/nikki-haley-says-democrats-are-very-smart-to-put-in-a-younger-candidate-against-trump-but-kamala-har?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nikki Haley Says &#8216;Democrats Are Very Smart To Put In A Younger Candidate&#8217; Against Trump But Kamala Harris Is The &#8216;Weakest Candidate&#8217;</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

Trump Vs. Harris: New Poll Shows Ex-President Leading Democratic Candidate By A Narrow Margin, But Vice President's Favorability Is Faring Better Than Biden

H&amp;R Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRB#NYSE">HRB</a>) has outperformed the market over the past 5 years by 2.77% on an annualized basis producing an average annual return of 15.37%. Currently, H&amp;R Block has a market capitalization of $7.95 billion. 
Buying $1000 In HRB: If an investor had bought $1000 of HRB stock 5 years ago, it would be worth $2,049.30 today based on a price of $56.95 for HRB at the time of writing.
<h3>H&amp;R Block's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722029438_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $2,000 Today

Lithium Junior Miners News For The Month Of March 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Beaten-down lithium prices aren&rsquo;t sustainable. In fact, according to&nbsp;<a href="https://www.wsj.com/finance/commodities-futures/are-lithium-stocks-at-rock-bottom-594111c7#:~:text=A%20recovery%20isn't%20yet,for%20a%20shortage%20and%20rally.">The Wall Street Journal</a>, prices have fallen too much to cover the cost of supply needed for electric vehicles (EVs). All of which will eventually lead to a monster opportunity for <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to buy.



&ldquo;A recovery isn&rsquo;t yet in sight, but one will have to come eventually. Lithium prices are now too low to justify a chunk of today&rsquo;s ore extraction in Australia and China, let alone investment in new production necessary to feed expected growth in the EV market. That is setting up the conditions for a shortage and rally,&rdquo;&nbsp;<a href="https://www.wsj.com/finance/commodities-futures/are-lithium-stocks-at-rock-bottom-594111c7#:~:text=A%20recovery%20isn't%20yet,for%20a%20shortage%20and%20rally.">they added</a>.



We also have to consider that,&nbsp;&ldquo;With some lithium mines shutting down or reducing production&nbsp;<a href="https://seekingalpha.com/article/4663102-top-10-lithium-companies-to-consider-potentially-approach-lithium-price-bottom">we could see less supply</a>. This could help stabilize prices and send lithium prices higher with demand,&rdquo; as I noted on Jan. 21.



All things considered, I&rsquo;d start accumulating lithium stocks on the cheap now.&nbsp;



<a href="https://acquirersmultiple.com/2020/10/john-templeton-the-principle-of-maximum-pessimism/">As Sir John Templeton said</a>: 




&ldquo;People are always asking me where is the outlook good, but that&rsquo;s the wrong question. The right question is: Where is the outlook the most miserable? In almost every activity of normal life people try to go where the outlook is best. You look for a job in an industry with a good future, or build a factory where the prospects are best. But my contention is if you&rsquo;re selecting publicly traded investment, you have to do the opposite.&rdquo;




With that, here are seven top lithium stocks to buy.



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>Investors are aggressively buying&nbsp;Albemarle&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>).



Since bottoming out around $110, the stock is now up to $131.74, and is close to refilling its bearish gap around $140. From here, if ALB can break above resistance at $142.73, it could potentially retest $150 near term. Helping, the stock is still inexpensive, trading at just 9.6x earnings, 1.6x book, with a yield of about 1.24% at the moment. Plus, Oppenheimer analyst Colin Rusch has an &ldquo;outperform&rdquo; rating on the stock, with a price target of $188.



Once lithium prices finally bottom out, I expect for ALB to be one of the big winners. In the meantime, as we wait, at least we can collect its dividend. On Feb. 22, the company announced a quarterly dividend of 40 cents ($1.60 annualized), payable April 1 to shareholders of record as of March 15. If you missed this one, more should be on the way.



<h2>Arcadium Lithium (ALTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>Another one of the top lithium stocks to buy is Arcadium Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/altm-stock-quote/">ALTM</a>).



The $4.63 billion company that combined Allkem and Livent to create one of the world&rsquo;s biggest lithium companies is also inexpensive at $4.31. Technically, the chart is a disaster. But that&rsquo;s to be expected with depressed lithium prices. Given time, and an overdue recovery, I&rsquo;d like to see ALTM back at $5.50 initially. From there, it has a gap to refill around $5.75.



<a href="https://www.prnewswire.com/news-releases/arcadium-lithium-releases-fourth-quarter-and-full-year-2023-results-and-provides-2024-full-year-outlook-302069315.html">Also, CEO Paul Graves recently said</a>:




&ldquo;It is clear that very few lithium expansion projects make economic sense at current market prices, and the longer prices stay near these levels the greater the impact will be on future supply shortfalls. As we saw in 2022, this will increase the likelihood of a rapid increase in future lithium prices,&rdquo; as quoted in a company release. 




Once that happens, ALTM will be very well positioned for upside.



Helping, Loop Capital has a &ldquo;buy&rdquo; rating, with a price target of $9 a share.



<h2>Sociedad Quimica y Minera (SQM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/sqm-stock-1-300x169.jpg" alt="Sociedad Quimica y Minera logo displayed on a mobile phone with the company's web page on it. SQM stock"><div>Source: madamF / Shutterstock.com</div></div>With a yield of 10.22%,&nbsp;Sociedad Quimica y Minera&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/sqm-stock-quote/">SQM</a>) we can get paid to wait for recovery here, too. At the moment, it&rsquo;s consolidating at around $49 a share. From here, I&rsquo;d like to see it test its December high of $64. It&rsquo;s also still trading at 6.8x earnings, and 1.8x sales, which is far less than its five-year average of 4.54.



Earnings haven&rsquo;t been hot here either. But that&rsquo;s to be expected in the current environment. In its most recent quarter,&nbsp;SQM said <a href="https://investorplace.com/2024/01/why-these-3-lithium-stocks-should-be-on-your-radar-in-2024/" target="_blank">revenue slipped 38% year-over-year</a> (YOY) to $1.84 billion. Net income came in 56% lower YOY to $479.9 million, as EPS crumbled 56% to $1.68 YOY.&nbsp;



However, a good amount of negativity has been priced in. Helping,&nbsp;Loop Capital&nbsp;<a href="https://thefly.com/news.php?symbol=SQM">recently raised its price target</a>&nbsp;on SQM to $62, with a &ldquo;hold&rdquo; rating. Again, while we wait for the eventual recovery in SQM, we can sit back and collect its dividends.



<h2>Atlas Lithium (ATLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600h-300x169.jpg" alt="rows of lithium ion batteries"><div>Source: Lightboxx/ShutterStock.com</div></div>The last time I mentioned&nbsp;Atlas Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/atlx-stock-quote/">ATLX</a>), it traded at around $14 on March 22. It&rsquo;s still another one of the top lithium stocks to buy.



At the time, I noted: 




&ldquo;The company recently said it achieved full funding for its early revenue strategy to allow for the start of production later this year.&nbsp;Two, the company just said the&nbsp;<a href="https://www.atlas-lithium.com/news/atlas-lithium-progresses-with-dms-plant-construction-remains-on-schedule-for-q4-2024-production/">construction of its modular dense</a>&nbsp;media separation lithium processing plant remains on track for completion in Q2 2024.&rdquo;




Today, the stock is up to $17.02. From here, if it can break above resistance at around $17.80, it could potentially test $20 next. Helping, Alliance Global Partners raised its price target on ATLX to $75 from $70 a share. Better, the company just signed a $30 million definitive agreement and offtake agreement with Mitsui &amp; Co.



&ldquo;Mitsui has entered into an offtake agreement for the future purchase of 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium&rsquo;s soon to be producing Neves Project in Brazil&rsquo;s Lithium Valley,&rdquo;&nbsp;<a href="https://seekingalpha.com/news/4084878-atlas-lithium-bags-30m-investment-from-mitsui-signs-offtake-agreement">noted Seeking Alpha</a>.



<h2>Frontier Lithium (LITOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium-300x169.jpg" alt="a lithium mine, ATLX stock"><div>Source: Shutterstock</div></div>There&rsquo;s also Frontier Lithium (OTCMKTS:<a href="https://investorplace.com/stock-quotes/litof-stock-quote/">LITOF</a>), a small $137 million company trading at just 60 cents.



This is a pre-production company that wants to become a major manufacturer of battery-quality lithium materials for EVs and battery supply chains in North America. At the moment, it&rsquo;s developing the PAK Lithium Project, which reportedly holds one of North America&rsquo;s highest-grade, large-tonnage, hard-rock lithium resources in the form of a rare low-iron spodumene, as noted in the company&rsquo;s investor deck.&nbsp;



Most recently, the company signed a definitive agreement with Mitsubishi to&nbsp;establish a joint venture partnership for the PAK Lithium Project mine and planned lithium chemicals conversion facility.&nbsp;<a href="https://seekingalpha.com/news/4075389-frontier-lithium-surges-after-forming-jv-with-mitsubishi-for-canada-lithium-project">According to the press release</a>, &ldquo;This&nbsp;JV partnership delivers immediate and near-term financing to aggressively advance the first fully integrated lithium mining and processing operation in&nbsp;Ontario.&rdquo;



<a href="https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2003-tsx-venture/fl/87780-frontier-discovers-a-new-spodumene-bearing-pegmatite-bolt-between-the-pak-and-spark-deposits.html">As also noted by the company</a>: 




&ldquo;The Project remains largely unexplored; however, since 2013, the company has delineated two premium spodumene-bearing lithium deposits (PAK &amp; Spark), located 2.3 Km apart. These deposits are supported by probable reserves of 22 million tonnes (Mt) averaging 1.55% lithium oxide (Li2O) and a measured and indicated resource of 26 Mt averaging 1.6% Li2O and inferred resource of 32.5 Mt averaging 1.4% Li2O.&rdquo;




<h2>Sprott Lithium Miners ETF (LITP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-1-300x169.jpg" alt="a group of batteries"><div>Source: Shutterstock</div></div>Or, you can always invest in an ETF for diversification at a low cost. For example, the&nbsp;Sprott Lithium Miners ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/litp-stock-quote/">LITP</a>).&nbsp;With an expense ratio of 0.65%, the ETF has 49 holdings and trades for just under $10 a share.



It&rsquo;s also the only pure play ETF with a focus on lithium mining companies. All of which should be well-positioned to benefit from explosive interest in clean energy and EVs. Also, while the ETF struggled for much of 2023, that&rsquo;s to be expected when other lithium stocks are falling. However, with many names starting to recover, so is the LITP ETF. With a good deal of patience and growing demand for lithium, it will eventually come back even stronger.



Some of its top lithium stocks to buy holdings include Albemarle,&nbsp;Livent Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/lthm-stock-quote/">LTHM</a>),&nbsp;Lithium Americas&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/">LAC</a>),&nbsp;American Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/amli-stock-quote/">AMLI</a>)&nbsp;and&nbsp;Ganfeng Lithium&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/gnenf-stock-quote/">GNENF</a>) to name a few. Last trading at just under $10, I&rsquo;d like to see the LITP ETF retest $13 near term.



<h2>Amplify Lithium &amp; Battery Technology ETF (BATT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600f-300x169.jpg" alt="a pile of lithium. lithium stocks"><div>Source: Bjoern Wylezich/ShutterStock.com</div></div>With an expense ratio of 0.59%, the&nbsp;Amplify Lithium &amp; Battery Technology ETF&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/batt-stock-quote/">BATT</a>) provides exposure to global companies that develop, produce and use lithium battery technology &mdash; all for less than $10 a share.&nbsp;



BATT ETF has 89 holdings, including Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), Albemarle, Sociedad Quimica and&nbsp;Panasonic (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/">PCRFY</a>). It is another hot ETF that could double, even triple, when lithium prices and related stocks start to push well off their low. While simplistic to say, it&rsquo;s only a matter of time before lithium recovers and takes the BATT ETF along for the ride.



Last trading at $9.45, I&rsquo;d like to see the BATT ETF run significantly higher. In fact, once the lithium boom gets hot again &mdash; which will again happen &mdash; the BATT ETF could retest its late 2021 high of $18.36 again, with a good deal of patience. Remember, with production being cut with low lithium prices, that&rsquo;ll eventually backfire when green energy demand picks back up.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. 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>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-lithium-stocks-to-buy-on-the-dip-march-2024/">7 Lithium Stocks to Buy on the Dip: March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Lithium Stocks to Buy on the Dip: March 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Beaten-down lithium prices aren&rsquo;t sustainable. In fact, according to&nbsp;<a href="https://www.wsj.com/finance/commodities-futures/are-lithium-stocks-at-rock-bottom-594111c7#:~:text=A%20recovery%20isn't%20yet,for%20a%20shortage%20and%20rally.">The Wall Street Journal</a>, prices have fallen too much to cover the cost of supply needed for electric vehicles (EVs). All of which will eventually lead to a monster opportunity for <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to buy.



&ldquo;A recovery isn&rsquo;t yet in sight, but one will have to come eventually. Lithium prices are now too low to justify a chunk of today&rsquo;s ore extraction in Australia and China, let alone investment in new production necessary to feed expected growth in the EV market. That is setting up the conditions for a shortage and rally,&rdquo;&nbsp;<a href="https://www.wsj.com/finance/commodities-futures/are-lithium-stocks-at-rock-bottom-594111c7#:~:text=A%20recovery%20isn't%20yet,for%20a%20shortage%20and%20rally.">they added</a>.



We also have to consider that,&nbsp;&ldquo;With some lithium mines shutting down or reducing production&nbsp;<a href="https://seekingalpha.com/article/4663102-top-10-lithium-companies-to-consider-potentially-approach-lithium-price-bottom">we could see less supply</a>. This could help stabilize prices and send lithium prices higher with demand,&rdquo; as I noted on Jan. 21.



All things considered, I&rsquo;d start accumulating lithium stocks on the cheap now.&nbsp;



<a href="https://acquirersmultiple.com/2020/10/john-templeton-the-principle-of-maximum-pessimism/">As Sir John Templeton said</a>: 




&ldquo;People are always asking me where is the outlook good, but that&rsquo;s the wrong question. The right question is: Where is the outlook the most miserable? In almost every activity of normal life people try to go where the outlook is best. You look for a job in an industry with a good future, or build a factory where the prospects are best. But my contention is if you&rsquo;re selecting publicly traded investment, you have to do the opposite.&rdquo;




With that, here are seven top lithium stocks to buy.



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>Investors are aggressively buying&nbsp;Albemarle&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>).



Since bottoming out around $110, the stock is now up to $131.74, and is close to refilling its bearish gap around $140. From here, if ALB can break above resistance at $142.73, it could potentially retest $150 near term. Helping, the stock is still inexpensive, trading at just 9.6x earnings, 1.6x book, with a yield of about 1.24% at the moment. Plus, Oppenheimer analyst Colin Rusch has an &ldquo;outperform&rdquo; rating on the stock, with a price target of $188.



Once lithium prices finally bottom out, I expect for ALB to be one of the big winners. In the meantime, as we wait, at least we can collect its dividend. On Feb. 22, the company announced a quarterly dividend of 40 cents ($1.60 annualized), payable April 1 to shareholders of record as of March 15. If you missed this one, more should be on the way.



<h2>Arcadium Lithium (ALTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>Another one of the top lithium stocks to buy is Arcadium Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/altm-stock-quote/">ALTM</a>).



The $4.63 billion company that combined Allkem and Livent to create one of the world&rsquo;s biggest lithium companies is also inexpensive at $4.31. Technically, the chart is a disaster. But that&rsquo;s to be expected with depressed lithium prices. Given time, and an overdue recovery, I&rsquo;d like to see ALTM back at $5.50 initially. From there, it has a gap to refill around $5.75.



<a href="https://www.prnewswire.com/news-releases/arcadium-lithium-releases-fourth-quarter-and-full-year-2023-results-and-provides-2024-full-year-outlook-302069315.html">Also, CEO Paul Graves recently said</a>:




&ldquo;It is clear that very few lithium expansion projects make economic sense at current market prices, and the longer prices stay near these levels the greater the impact will be on future supply shortfalls. As we saw in 2022, this will increase the likelihood of a rapid increase in future lithium prices,&rdquo; as quoted in a company release. 




Once that happens, ALTM will be very well positioned for upside.



Helping, Loop Capital has a &ldquo;buy&rdquo; rating, with a price target of $9 a share.



<h2>Sociedad Quimica y Minera (SQM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/sqm-stock-1-300x169.jpg" alt="Sociedad Quimica y Minera logo displayed on a mobile phone with the company's web page on it. SQM stock"><div>Source: madamF / Shutterstock.com</div></div>With a yield of 10.22%,&nbsp;Sociedad Quimica y Minera&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/sqm-stock-quote/">SQM</a>) we can get paid to wait for recovery here, too. At the moment, it&rsquo;s consolidating at around $49 a share. From here, I&rsquo;d like to see it test its December high of $64. It&rsquo;s also still trading at 6.8x earnings, and 1.8x sales, which is far less than its five-year average of 4.54.



Earnings haven&rsquo;t been hot here either. But that&rsquo;s to be expected in the current environment. In its most recent quarter,&nbsp;SQM said <a href="https://investorplace.com/2024/01/why-these-3-lithium-stocks-should-be-on-your-radar-in-2024/" target="_blank">revenue slipped 38% year-over-year</a> (YOY) to $1.84 billion. Net income came in 56% lower YOY to $479.9 million, as EPS crumbled 56% to $1.68 YOY.&nbsp;



However, a good amount of negativity has been priced in. Helping,&nbsp;Loop Capital&nbsp;<a href="https://thefly.com/news.php?symbol=SQM">recently raised its price target</a>&nbsp;on SQM to $62, with a &ldquo;hold&rdquo; rating. Again, while we wait for the eventual recovery in SQM, we can sit back and collect its dividends.



<h2>Atlas Lithium (ATLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600h-300x169.jpg" alt="rows of lithium ion batteries"><div>Source: Lightboxx/ShutterStock.com</div></div>The last time I mentioned&nbsp;Atlas Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/atlx-stock-quote/">ATLX</a>), it traded at around $14 on March 22. It&rsquo;s still another one of the top lithium stocks to buy.



At the time, I noted: 




&ldquo;The company recently said it achieved full funding for its early revenue strategy to allow for the start of production later this year.&nbsp;Two, the company just said the&nbsp;<a href="https://www.atlas-lithium.com/news/atlas-lithium-progresses-with-dms-plant-construction-remains-on-schedule-for-q4-2024-production/">construction of its modular dense</a>&nbsp;media separation lithium processing plant remains on track for completion in Q2 2024.&rdquo;




Today, the stock is up to $17.02. From here, if it can break above resistance at around $17.80, it could potentially test $20 next. Helping, Alliance Global Partners raised its price target on ATLX to $75 from $70 a share. Better, the company just signed a $30 million definitive agreement and offtake agreement with Mitsui &amp; Co.



&ldquo;Mitsui has entered into an offtake agreement for the future purchase of 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium&rsquo;s soon to be producing Neves Project in Brazil&rsquo;s Lithium Valley,&rdquo;&nbsp;<a href="https://seekingalpha.com/news/4084878-atlas-lithium-bags-30m-investment-from-mitsui-signs-offtake-agreement">noted Seeking Alpha</a>.



<h2>Frontier Lithium (LITOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium-300x169.jpg" alt="a lithium mine, ATLX stock"><div>Source: Shutterstock</div></div>There&rsquo;s also Frontier Lithium (OTCMKTS:<a href="https://investorplace.com/stock-quotes/litof-stock-quote/">LITOF</a>), a small $137 million company trading at just 60 cents.



This is a pre-production company that wants to become a major manufacturer of battery-quality lithium materials for EVs and battery supply chains in North America. At the moment, it&rsquo;s developing the PAK Lithium Project, which reportedly holds one of North America&rsquo;s highest-grade, large-tonnage, hard-rock lithium resources in the form of a rare low-iron spodumene, as noted in the company&rsquo;s investor deck.&nbsp;



Most recently, the company signed a definitive agreement with Mitsubishi to&nbsp;establish a joint venture partnership for the PAK Lithium Project mine and planned lithium chemicals conversion facility.&nbsp;<a href="https://seekingalpha.com/news/4075389-frontier-lithium-surges-after-forming-jv-with-mitsubishi-for-canada-lithium-project">According to the press release</a>, &ldquo;This&nbsp;JV partnership delivers immediate and near-term financing to aggressively advance the first fully integrated lithium mining and processing operation in&nbsp;Ontario.&rdquo;



<a href="https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2003-tsx-venture/fl/87780-frontier-discovers-a-new-spodumene-bearing-pegmatite-bolt-between-the-pak-and-spark-deposits.html">As also noted by the company</a>: 




&ldquo;The Project remains largely unexplored; however, since 2013, the company has delineated two premium spodumene-bearing lithium deposits (PAK &amp; Spark), located 2.3 Km apart. These deposits are supported by probable reserves of 22 million tonnes (Mt) averaging 1.55% lithium oxide (Li2O) and a measured and indicated resource of 26 Mt averaging 1.6% Li2O and inferred resource of 32.5 Mt averaging 1.4% Li2O.&rdquo;




<h2>Sprott Lithium Miners ETF (LITP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-1-300x169.jpg" alt="a group of batteries"><div>Source: Shutterstock</div></div>Or, you can always invest in an ETF for diversification at a low cost. For example, the&nbsp;Sprott Lithium Miners ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/litp-stock-quote/">LITP</a>).&nbsp;With an expense ratio of 0.65%, the ETF has 49 holdings and trades for just under $10 a share.



It&rsquo;s also the only pure play ETF with a focus on lithium mining companies. All of which should be well-positioned to benefit from explosive interest in clean energy and EVs. Also, while the ETF struggled for much of 2023, that&rsquo;s to be expected when other lithium stocks are falling. However, with many names starting to recover, so is the LITP ETF. With a good deal of patience and growing demand for lithium, it will eventually come back even stronger.



Some of its top lithium stocks to buy holdings include Albemarle,&nbsp;Livent Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/lthm-stock-quote/">LTHM</a>),&nbsp;Lithium Americas&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/">LAC</a>),&nbsp;American Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/amli-stock-quote/">AMLI</a>)&nbsp;and&nbsp;Ganfeng Lithium&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/gnenf-stock-quote/">GNENF</a>) to name a few. Last trading at just under $10, I&rsquo;d like to see the LITP ETF retest $13 near term.



<h2>Amplify Lithium &amp; Battery Technology ETF (BATT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600f-300x169.jpg" alt="a pile of lithium. lithium stocks"><div>Source: Bjoern Wylezich/ShutterStock.com</div></div>With an expense ratio of 0.59%, the&nbsp;Amplify Lithium &amp; Battery Technology ETF&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/batt-stock-quote/">BATT</a>) provides exposure to global companies that develop, produce and use lithium battery technology &mdash; all for less than $10 a share.&nbsp;



BATT ETF has 89 holdings, including Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), Albemarle, Sociedad Quimica and&nbsp;Panasonic (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/">PCRFY</a>). It is another hot ETF that could double, even triple, when lithium prices and related stocks start to push well off their low. While simplistic to say, it&rsquo;s only a matter of time before lithium recovers and takes the BATT ETF along for the ride.



Last trading at $9.45, I&rsquo;d like to see the BATT ETF run significantly higher. In fact, once the lithium boom gets hot again &mdash; which will again happen &mdash; the BATT ETF could retest its late 2021 high of $18.36 again, with a good deal of patience. Remember, with production being cut with low lithium prices, that&rsquo;ll eventually backfire when green energy demand picks back up.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. 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>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-lithium-stocks-to-buy-on-the-dip-april-2024/">7 Lithium Stocks to Buy on the Dip: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Lithium Stocks to Buy on the Dip: April 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If you are looking for the most undervalued <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to buy in April, you&rsquo;ve come to the right place. I feel these companies represent the best deals in the market right now, trading at attractive valuations and having accretive outlooks for the future.



The reason I chose these companies is due to their robust competitive advantages and wide moats in the lithium mining industry. These firms have established themselves as low-cost producers, leveraging economies of scale and favorable mineral deposit locations. Their operational strengths allow them to extract lithium in a cost-efficient manner, providing an edge over rivals.



Moreover, some companies have secured long-term supply agreements with major players in the electric vehicle (EV) and renewable energy storage markets. Such contracts ensure a steady stream of revenue and mitigate pricing pressures.&nbsp;



So, here are three of the most undervalued lithium stocks to buy in April.



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>Since March, Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>), saw its share price recover from a low of around $110 to $128, with a potential to reach higher levels. It trades at 9x earnings and offers a 1.27% yield.&nbsp;



I think ALB is undervalued because of its announcement regarding measures in January 2024 to adjust its growth investments and streamline costs, targeted to unlock over $750 million in cash flow in the near term. The company <a href="https://seekingalpha.com/pr/19593290-albemarle-outlines-actions-to-preserve-growth-reduce-costs-and-optimize-cash-flow?hasComeFromMpArticle=false">plans to reduce</a> its 2024 capital expenditures to between $1.6 billion and $1.8 billion, down from approximately $2.1 billion in 2023.



For the fourth quarter and full year 2023, ALB reported mixed results. While <a href="https://investors.albemarle.com/news-and-events/news/news-details/2024/Albemarle-Reports-Fourth-Quarter-and-Full-Year-2023-Results/default.aspx">full-year</a> net sales hit a record high of $9.6 billion, a 31% increase from the previous year, the fourth quarter experienced a net loss of $618 million. However, this, in turn, has improved its valuation, making it one of those companies to consider.



<h2>Ganfeng Lithium (GNENF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/gnenf1600-300x169.png" alt="Person holding mobile phone with logo of Chinese company Jiangxi Ganfeng Lithium Co. Ltd. (GNENF) on screen in front of web page. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Ganfeng Lithium (OTCMKTS:<a href="https://investorplace.com/stock-quotes/gnenf-stock-quote/">GNENF</a>) is one of the world&rsquo;s leading lithium producers, providing comprehensive lithium products and solutions to the global market. China is the hub of lithium activity, and GNENF stock is at the heart of it.



Here&rsquo;s why I believe GNENF is in the prime spot for a strong rebound. In 2023, the company&rsquo;s performance mirrored broader industry trends, with a noted decline in profit attributed to uncertainties around its Mexico project and higher operational costs. That scenario prompted a cautious stance from analysts, leading to a general recommendation to sell GNENF shares as of the beginning of 2024. Specifically, GNENF&rsquo;s stock price saw a decrease from $3.81 at the start of the year to $3.35, indicating a 12.1% drop.



There&rsquo;s some good news on the horizon. The company <a href="https://www.chemanalyst.com/NewsAndDeals/NewsDetails/pilbara-minerals-and-ganfeng-partner-for-lithium-conversion-facility-feasibility-check-26024">has been part of significant partnerships,</a> including an expanded offtake agreement with Pilbara Minerals to supply an additional 100,000 tons of spodumene annually from 2027. It may also be undervalued from both a fundamental level and a macro level, as the <a href="https://www.wsj.com/economy/chinas-service-economy-expands-further-caixin-pmi-shows-b6c0ca62">Chinese economy</a> continues to recover.



<h2>Frontier Lithium (LITOF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>Frontier Lithium (OTCMKTS:<a href="https://investorplace.com/stock-quotes/litof-stock-quote/">LITOF</a>) is a smaller, pre-production company with ambitions in North America&rsquo;s EV and battery sector. These pre-producers can sometimes hold the best opportunity for investors because they trade at very low valuations given their more speculative natures compared to more established companies.



In 2024, Frontier Lithium continues to focus on developing its PAK Lithium Project, aimed at establishing the first fully integrated lithium mining and processing operation in Ontario, Canada. Another significant development for Frontier Lithium in 2024 is the <a href="https://finance.yahoo.com/news/frontier-lithium-mitsubishi-corporation-form-110000839.html">formation of a joint venture</a> with Mitsubishi Corporation. The partnership underlines a mutual commitment to advance the PAK Lithium Project, with Mitsubishi initially acquiring a 7.5% stake in the project.



However, the kicker for me is that it projected a 24-year life for the PAK Lithium Project, with a post-tax NPV(8%) of $1.74 billion and an internal rate of return of 24.1%. That means its prospects are both accretive financially and lucrative from a partnership angle.



On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-3-most-undervalued-lithium-stocks-to-buy-in-april-2024/">The 3 Most Undervalued Lithium Stocks to Buy in April 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Most Undervalued Lithium Stocks to Buy in April 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Many investors are focusing their metals and mining focus on gold and silver in 2024. And <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> took a beating in 2023 which continues into 2024. However, this may be a time to look for lithium stocks to buy on the dip.&nbsp;



Primarily, lithium is a core metal needed for the ongoing transition to electric vehicles (EVs). But it&rsquo;s also going to be needed for many current and next-gen applications, including flying cars and smartphones. &nbsp;



Investing in commodities is not for risk-averse investors. Oversupply crushed the lithium market, and miners are cutting back. But this <a href="https://www.morningstar.com/news/marketwatch/20230920269/lithium-supply-may-tighten-in-the-years-ahead-driving-prices-higher-along-with-it" target="_blank">tightening of the lithium supply</a> is likely to provide a boost to lithium prices. EV makers, for example, can get through their inventory glut. &nbsp;



Even if turnaround time in lithium prices doesn&rsquo;t happen soon, many lithium stocks to buy on the dip are trading near 52-week lows. And some pay a dividend which can help protect your investment if the market moves against you. &nbsp;



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>You can&rsquo;t blame investors for wanting to throw in the towel on Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>). At several points in 2023 and 2024, investors may have chosen to get involved, thinking the bottom was in, only to see it fall further. &nbsp;



The good news is that in the last six months, ALB stock looks to have found a floor. The bad news is that it continues to trade at or near that floor. It&rsquo;s a stock that&rsquo;s in need of a catalyst. &nbsp;



Albemarle won&rsquo;t report earnings until May 1, 2024. However, analysts have been upgrading and/or <a href="https://investorplace.com/2024/04/wall-street-favorites-3-lithium-stocks-with-strong-buy-ratings-for-april-2024/" target="_blank">boosting their price targets</a> for the stock in April. Bank of America (NYSE:<a href="https://investorplace.com/stock-quotes/bac-stock-quote/">BAC</a>) upgraded the stock to a buy while increasing the price target from $137 to $156. Wells Fargo (NYSE:<a href="https://investorplace.com/stock-quotes/wfc-stock-quote/">WFC</a>) retained its buy rating on ALB stock while raising its price target to $145 from $135. &nbsp;



<h2>Frontier Lithium (LITOF)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>For investors with more appetite for risk, Frontier Lithium (OTCMKTS:<a href="https://investorplace.com/stock-quotes/litof-stock-quote/">LITOF</a>) is an attractive choice. As of this writing, Frontier Lithium is a penny stock&#x2A; at just 57 cents. The company&rsquo;s goal is to be the first fully integrated lithium operation in Ontario. &nbsp;



One important fact for investors to consider is that Frontier Lithium is still a pre-production company that isn&rsquo;t expected to begin production of any sort at its <a href="https://www.frontierlithium.com/_files/ugd/dec7de_99bda7b89f0e44bea74e272f967144d9.pdf" target="_blank">PAK Lithium Project until 2027</a>. And, Frontier won&rsquo;t begin lithium chemical production until 2029. &nbsp;



However, the company has a <a href="https://mailchi.mp/frontierlithium/jv0324" target="_blank">joint venture partnership with Mitsubishi</a> that will help ensure the PAK Lithium Project is funded until production starts. Initially, Mitsubishi will have a 5% stake in the project, which could grow as high as 25%.&nbsp;



<h2>WisdomTree Battery Value Chain and Innovation Fund (WBAT)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/etf-up-arrow-300x169.jpg" alt="graphic of the phrase ETF sitting on a computer in front of an increasing line graph on top of a bar graph. Best Funds for Aggressive Investors. Best Growth ETFs"><div>Source: Shutterstock</div></div>The WisdomTree Battery Value Chain and Innovation Fund (NYSEARCA:<a href="https://investorplace.com/stock-quotes/wbat-stock-quote/">WBAT</a>) is a choice for investors looking to get exposure to lithium without picking one or more individual stocks. This is a relatively new exchange-traded fund that launched in February 2022. &nbsp;



The fund invests nearly equally in China, the U.S. and Japan, with about 16% of the fund&rsquo;s geographic exposure concentrated in those three countries. As you can see from the name of the fund, it is not a pure-play lithium ETF. You will get exposure to other sectors, including electric vertical take-off and landing (eVTOL) companies (i.e. flying cars) and <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">hydrogen stocks</a>.&nbsp;



That may make the fund too broad for some investors. However, the fund is down 10.68% in 2024, which is better (or less bad) than other ETFs that have a heavier lithium focus. The WBAT fund has $4.08 billion of assets under management (AUM) and carries a 2.63% dividend yield.&nbsp;



&#x2A;On <a href="https://investorplace.com/stock-types/penny-stocks/">Penny Stocks</a> 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/">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, Chris Markoch did not have (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<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"> Publishing Guidelines</a>.&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-lithium-stocks-to-buy-on-the-dip-april-2024/">3 Lithium Stocks to Buy on the Dip: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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