Modern Plant Based Foods Stock (OTC: MDRNF)

Latest news for Modern Plant Based Foods (OTC:MDRNF) Stock

Modern Plant Based Foods Inc is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based products including meat alternatives, dairy-free cheeses, homemade style soups and vegan snacks. The company understands the importance of providing nutritious and sustainable alternatives without sacrificing taste. All products are made free of soy, gluten, nuts and GMOs. Modern Plant-Based Foods' objective is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients. The products are available for purchase at various retail locations and on e-commerce platforms. Its maximum revenue is from Canada only.

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AKAN

BNVIF

HCANF

MDRNF

PKBFF

Concerned shareholders of Akanda Corp. (NASDAQ: AKAN) have replaced a majority of the board of directors of the corporation, with highly-qualified and motivated directors.

Akanda Shareholders Take Matters Into Their Hands - Replace A Majority Of Directors

MODERN PLT BASE FOODS INC by Modern Plant Based Foods Inc.

Modern Plant Based Foods Inc

DA Davidson analyst Linda Bolton Weiser maintains Clorox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) with a Neutral and lowers the price target from $171 to $169.

Price Target

Analyst Ratings

DA Davidson Maintains Neutral on Clorox, Lowers Price Target to $169

Mizuho analyst Ben Chaiken downgrades Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) from Outperform to Neutral and raises the price target from $243 to $263.

Downgrades

Mizuho Downgrades Hilton Worldwide Holdings to Neutral, Raises Price Target to $263

Needham analyst Mike Matson reiterates TransMedics Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) from Hold to Hold.

Reiteration

TMDX

Needham Reiterates Hold on TransMedics Grto Hold

DA Davidson analyst Linda Bolton Weiser maintains e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) with a Buy and maintains $170 price target.

DA Davidson Maintains Buy on e.l.f. Beauty, Maintains $170 Price Target

Needham analyst Kyle Peterson reiterates Fair Isaac (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) with a Buy and maintains $2500 price target.

FICO

Needham Reiterates Buy on Fair Isaac, Maintains $2500 Price Target

Snacks giant Mondelez International&nbsp;Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) shares are trading lower in <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">premarket on Wednesday</a>.
The company reported fourth-quarter sales growth of 3.1% year-on-year to $9.60 billion, missing the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43478380/mondel-z-international-reports-q4-and-fy-2024-results" rel="noreferrer noopener">consensus estimate of $9.64 billion</a>.
Adjusted EPS of $0.65 also <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the consensus estimate of $0.66.</a>
Revenues in Asia, Middle East&nbsp;&amp; Africa surged 9.9% whereas Latin America plunged 7.2%. Revenue from Europe and North America increased 5.8% and 0.1% respectively.
Gross profit for the quarter climbed 6.9% to $3.71 billion and the gross margin expanded 130 basis points to 38.6%.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43462736/cosmetics-major-estee-lauder-q2-earnings-sales-slump-restructuring-deepens-but-ceo-bets-on-beauty-reimagined" rel="noreferrer noopener">Cosmetics Major Estee Lauder Q2 Earnings: Sales Slump, Restructuring Deepens, But CEO Bets On &#8216;Beauty Reimagined&#8217;</a>
Operating income jumped 35% to $1.61 billion and the operating margin expanded 400 basis points to 16.8%.
The operating cash flow for the twelve months totaled $4.9 billion, with a free cash flow of $3.5 billion.
&#8220;As we transition into 2025, we remain focused on executing against our long-term growth strategy and delivering on our chocolate business playbook to navigate unprecedented cocoa cost inflation,&#8221; said Chair and CEO Dirk Van de Put.
Outlook: Mondelez expects FY25 organic net revenue growth <a href="https://www.benzinga.com/calendars/guidance">to be approximately 5%.</a>
The company expects adjusted EPS to decline approximately 10% on a constant currency basis due to unprecedented cocoa cost inflation.
Mondelez sees FY25 free cash flow of over $3 billion.&nbsp;The company estimates currency translation would decrease full-year net revenue growth by approximately&nbsp;2.5%&nbsp;and negatively impact Adjusted EPS by $0.12.
Price Action: MDLZ shares are trading lower by 4.44% at $53.63 in premarket at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43463646/alcohol-giant-diageo-suspends-guidance-as-trumps-tariff-looms" target="_blank" rel="noreferrer noopener">Alcohol Giant Diageo Suspends Medium-Term Guidance As Trump&#8217;s Tariff Looms</a></li>
</ul>
Image via Shutterstock.

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General

MDLZ

Snacks Giant Mondelez Q4 Earnings: Sales Miss, EPS Falls Short, Cocoa Inflation Threatens 2025 & More

Needham analyst Matt Dezort reiterates Varonis Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) with a Buy and maintains $67 price target.

VRNS

Needham Reiterates Buy on Varonis Systems, Maintains $67 Price Target

Macro Economic Events

Econ #s

Economics

U.K. Services Purchasing Managers Index For January 50.8 Vs. 51.2 Est.; 51.1 Prior

Baird analyst Peter Arment upgrades Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) from Neutral to Outperform and raises the price target from $37 to $58.

Upgrades

MRCY

Baird Upgrades Mercury Sys to Outperform, Raises Price Target to $58

U.K. Composite Purchasing Managers' Index For January 50.6 Vs. 50.9 Est.; 50.4 Prior

Toyota Motor Reported Q3 Toyota and Lexus Vehicle Sales Of 2.73M

Toyota Motor Expects FY25 Revenue Of $309.21B Vs $291.4B Est And EPS Of $29.74 Vs $19.84 Est

PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) reported a <a href="https://www.benzinga.com/25/02/43460249/pepsicos-q4-sales-miss-estimates-on-downcast-performance-in-north-america-stock-dives">mixed fourth quarter</a>, missing revenue while beating earnings per share estimates. The management highlighted key strategic changes to its snack business Frito-Lay North America, which manufactures popular products like Lays, Cheetos, and Doritos.
What Happened: Frito-Lay North America (FLNA) experienced a decline in organic revenue for both the full year 2024 and the fourth quarter. Full-year organic revenue decreased by 0.5%, a significant drop from the 9% growth seen in 2023. In the fourth quarter alone, organic revenue was down 2%.
PepsiCo reinvested heavily in FLNA in Q4, funded partly by one-time gains, to revitalize volume growth. This included tactical spending and strategic groundwork for 2025.
The chairman and CEO of the company, Ramon Luis Laguarta in response to an analyst during its earnings call said, &#8220;We reinvested most of the one-time gains in building the infrastructure to capture those opportunities in 25.&#8221;
The management also highlighted that FLNA is emphasizing value offerings at different price points and pack sizes. This is alongside healthier options like products with lower sodium, and fat, better ingredients, and plant-based items. The management is addressing consumer preferences for &#8220;positive choices&#8221; and &#8220;permissible offerings.&#8221;
PepsiCo Beverages North America organic revenue increased 1% in 2024, which compares to 7% organic revenue growth in the prior year, whereas, Quaker Foods North America organic revenue declined 14 percent in 2024.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/02/43487630/trump-media-or-trump-coin-where-have-investors-lost-more-money-since-the-47th-president-entered-the-white-house">Trump Media or Trump Coin: Where Have Investors Lost More Money Since the 47th President Entered the White House?</a>
Why It Matters: Laguarta said, &#8220;I think there&#8217;s a higher level of awareness in general of American consumers toward health and wellness, driven by conversations around obesity drugs, and other health-related topics. This increased awareness is influencing consumer behavior, which PepsiCo is addressing through its strategies&#8221;.
Fourth-quarter sales fell slightly short of expectations, decreasing 0.2% year-over-year to $27.78 billion compared to the projected $27.89 billion. However, adjusted EPS of $1.96 beat the $1.94 consensus.
For the next full year, PepsiCo projects low single-digit organic sales growth for 2025, anticipating a gradual improvement in North America. They reaffirmed their long-term targets of 4-6% organic sales growth and high single-digit EPS growth.
Restructuring efforts aim to boost international growth and North American efficiency, the management highlighted. PepsiCo also said that it is mindful of macroeconomic uncertainties and evolving consumer behavior, including the potential impact of weight loss drugs, though no direct impact has been observed.
Price Action: Shares of PepsiCo fell 4.51% to end Tuesday at $143.49 apiece. It rose by 0.49% in after-hours. The exchange-traded fund tracking the S&amp;P 500 index, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.67% to $601.78 on Tuesday.
The average price target among 20 analysts <a href="https://www.benzinga.com/quote/PEP/analyst-ratings">tracked by Benzinga</a> is $178.35 with a ‘hold' rating. The estimates range from $155 to $200 apiece. Recent ratings from RBC Capital, JP Morgan, and Deutsche Bank suggest a $171.67 target, implying a potential upside of 19.05%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/PEP/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="383" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05034243/PepsiCo-ANR-1024x383.png" alt="" class="wp-image-766528" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05034243/PepsiCo-ANR-1024x383.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05034243/PepsiCo-ANR-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05034243/PepsiCo-ANR-768x287.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05034243/PepsiCo-ANR.png 1068w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/02/43459342/chip-equipment-maker-applied-materials-stock-is-up-over-9-ytd-even-as-charts-point-to-bearish-patterns-heres-what-investors-should-look-at">Chip Equipment Maker Applied Materials Stock Is Up Over 9% YTD Even As Charts Point To Bearish Patterns: Here&#8217;s What Investors Should Look At</a></li>
</ul>
Photo courtesy: Shutterstock

PepsiCo Revamps Lays, Cheetos, And Doritos Maker Frito Lay As North American Sales Take A Hit, Shifts Focus To Health-Conscious Customers

Earnings Beats

Toyota Motor Q3 2025 GAAP EPS $14.34 Up From $6.81 YoY, Sales $80.988B Beat $73.981B Estimate

CANG

Cango Announced Number Of Bitcoins Produced Stood At 538.2 In January 2025

Morgan Stanley&#8217;s CIO&nbsp;cautioned investors regarding the risks of President, Donald Trump&#8216;s growth-negative policies such as <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43454424/china-strikes-back-new-tariffs-up-to-15-on-certain-us-imports-in-retaliation-for-trumps-10-levy-on-chinese-goods">tariffs </a>and immigration enforcement. 
What Happened: The Chief U.S. Equity Strategist and CIO of&nbsp;Morgan Stanley, Mike Wilson, predicted weak stock returns for the S&amp;P 500 in&nbsp;the next 3 to 6&nbsp;months.
He pointed out that the &#8220;equity negative&#8221; policies were introduced before the &#8220;equity positive&#8221; measures had sufficient time to take effect in the form of less crowding out and lower interest rates. He mentioned deregulation, tax extensions, and reduced government spending as some of these &#8216;equity-positive&#8217; measures.
He cautioned about tough times ahead and predicted the S&amp;P 500 to trade between $5,500-$6,100 in&nbsp;the next 3 to 6&nbsp;months, with a fourth-quarter price target of $6,500. &#8220;Since we have been expecting tariffs to be implemented, this realization only furthers our preference for consumer services over goods. It also supports our preference for financials and other domestically geared businesses that have limited currency or trade exposures,&#8221; added the Morgan Stanley CIO.
The Morgan Stanley top strategist believes that DeepSeek&#8217;s latest AI model has added another level of uncertainty for investors and reiterated his preference for software and media over semiconductors. However, BofA&#8217;s Vivek Arya stated <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43474406/nvidia-still-a-top-pick-as-microsoft-meta-stick-with-gpus-despite-deepseek-challenge-analyst">yesterday </a>&#8220;Despite DeepSeek&#8217;s supposed ‘revolutionary' optimizations, there is no change thus far to spending intentions at Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) large customers including Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).&#8221;
SEE ALSO: <a href="https://www.benzinga.com/25/02/43426111/openai-rethinks-open-source-as-deepseek-gains-ground-sam-altman-hints-at-major-changes-in-ai-model-development">DeepSeek Impact Makes OpenAI Rethink Open Source — Sam Altman Hints At Major Changes In Model Development</a>
Why It Matters: In the last two weeks since President Trump&#8217;s inauguration, the market has been nearly flat, with the S&amp;P 500 slipping 0.18% since Jan. 20. Trump&#8217;s announcement of a 25% <a href="https://www.benzinga.com/markets/cannabis/25/02/43476012/trumps-canada-tariffs-bffs-for-decades-what-went-wrong-can-it-really-be-about-fentanyl-unlikely">tariff on imports from Canada and Mexico</a>, which has been postponed by a month. 
Prior to that, the announcement of <a href="https://www.benzinga.com/startups/25/02/43476917/deepseek-a-trojan-horse-kevin-oleary-calls-bs-on-deepseeks-6m-budget-claims-they-ripped-off-60k-nvidia-chips-from-the-black-market">DeepSeek unsettled the technology sector</a>, triggering a brief market selloff.
In addition to Morgan Stanley, economists at Goldman Sachs have raised concerns about the imposition of tariffs. They estimate that for every 5-percentage-point increase in the tariff rate, the S&amp;P 500&#8217;s earnings per share could decline by approximately 1% to 2%.
<ul>
<li>READ MORE: <a href="https://in.benzinga.com/25/02/43439462/us-manufacturing-confidence-tops-forecasts">US Manufacturing Confidence Tops Forecasts, Yet Price Pressures Intensify, &#8216;Could Become A Concern,&#8217; Economist Says</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSFT

NVDA

Expect Weak Stock Returns For Next 3 Months, Cautions Top Analyst Amid Trump's Trade And Immigration Policies

GXO Logistics Announced That It Has Expanded Its Partnership With Castore, The Performance Sportswear Brand, To Operate Warehousing And Transportation In The UK, US And Europe

Aurora Mobile Announced That Its Leading Enterprise Ai Agent Platform,  GPTBots.ai Has Integrated Deepseek's Janus-pro Into Its Ecosystem As An Open Tool, Further Expanding Its Comprehensive Suite Of Ai Capabilities

On Tuesday, Alphabet Inc. (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>) CEO Sundar Pichai hinted at potential future monetization strategies for Gemini AI, including the introduction of ads.
What Happened: During the company's <a href="https://in.benzinga.com/25/02/43479274/alphabet-q4-earnings-highlights-ai-cloud-youtube-momentum-continues-capex-guidance-sends-shares-lower">fourth-quarter earnings</a> call, analyst Ken Gawrelski asked about the long-term monetization strategy for Gemini, particularly whether ads would be integrated into the platform.
In response, Pichai confirmed that while the company is currently focused on free and premium subscription tiers, advertising will likely play a role in the future.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg's Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments'</a>
&#8220;We do have very good ideas for native ad concepts, but you will see us lead with the user experience,&#8221; Pichai stated, adding, &#8220;But I do think we&#8217;re always committed to making the products work and reach billions of users at scale. And advertising has been a great aspect of that strategy.&#8221;
Comparing Gemini's potential ad model to YouTube's approach, he suggested that Google will offer users choices over time. &#8220;Just like you&#8217;ve seen with YouTube, we&#8217;ll give people options over time,&#8221; Pichai added.
For now, however, Google remains focused on driving adoption through subscriptions, he said.
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: During the earnings call, Pichai also highlighted Google&#8217;s extensive user base, stating that seven of the company&#8217;s products and platforms, each with over two billion users, are now integrating Gemini.
He also underscored Google&#8217;s leadership in AI, noting that its generative media models and Gemini consistently rank at the top of industry leaderboards and benchmarks. In fact, more than 4.4 million developers are currently using Gemini models— double the number from six months ago.
Alphabet reported fourth-quarter revenue of $96.5 billion, a 12% year-over-year increase. However, it fell short of the Street consensus estimate of $96.6 billion, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020425&amp;t=be2bearmibe3na1">Benzinga Pro</a>.
Price Action: As of early Wednesday, Alphabet's Class A shares were down 7.35% in pre-market trading, while Class C shares had fallen 7.08%. On Tuesday, Class A shares closed 2.56% higher at $206.38, while Class C shares rose 2.50% to $207.71.
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:
<ul>
<li><a href="https://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-l">Sundar Pichai Downplays DeepSeek Threat — Google&#8217;s Gemini Still Leads In Cost, Performance, And Latency</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Google

Tech

GOOG

GOOGL

Google's Gemini AI Could Soon Include Ads — Sundar Pichai Hints At Future Monetization Beyond Subscriptions

Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) had thin trading volumes on Tuesday as its valuations have skyrocketed and its stock has fallen since the reelection of President Donald Trump, the recent charts point towards a weakness in the stock.
What Happened: DJT&#8217;s trading volume was significantly lower than average as of Tuesday&#8217;s close. Only 3.53 million shares were traded compared to the average of 20.03 million.
The technical analysis of its simple daily moving averages signals a downtrend with mixed momentum indicators.
DJT shares closed Tuesday at $30.62, lower than its 200-day simple moving average of $32.56, and 50-day average at $34.47. It was also lower than its eight-day average of $31.16 and the 20-day average of $34.87. This indicates a bearish downtrend.
However, the momentum indicators were mixed. The relative strength index of 40.59 showed that the stock is in the neutral zone. whereas the negative MACD (moving average convergence/divergence) indicator of 1.27 suggests potential for downward momentum in the near term.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025129/DJT-tech-chart-1024x576.png" alt="" class="wp-image-766407" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025129/DJT-tech-chart-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025129/DJT-tech-chart-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025129/DJT-tech-chart-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025129/DJT-tech-chart-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025129/DJT-tech-chart.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, the company has a price-to-sales ratio of 1,013, signaling the company is overvalued. The price-to-earnings ratio cannot be used as the metric to compute valuation as the company had an operating loss of $23.7 million and a net loss of $19.2 million, in the third quarter.
See Also: <a href="https://www.benzinga.com/25/02/43425958/late-trump-memecoin-sale-costs-trader-33-million-in-potential-gains">TRUMP Memecoin Sale Cost Trader $33 Million In Potential Gains As Memecoin Plunges 76% From Market Top</a>
Why It Matters: Trump held 57% of the company, however, in December he <a href="https://www.benzinga.com/markets/equities/24/12/42609228/trump-transfers-entire-djt-stake-to-revocable-trust-ahead-of-inauguration">transferred</a> his entire stake of 114,750,000 shares to Donald J. Trump Revocable Trust of which he is the sole beneficiary. The DJT stock, which soared after Trump won the election, has declined 9.78% since Nov. 5.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025237/DJT-since-elections-1-1024x576.png" alt="" class="wp-image-766409" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025237/DJT-since-elections-1-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025237/DJT-since-elections-1-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025237/DJT-since-elections-1-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025237/DJT-since-elections-1-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05025237/DJT-since-elections-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Additionally, Trump Media is expanding its footprint in the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43312600/trump-media-group-to-invest-in-bitcoin-financial-services">financial services</a> sector with the launch of Truth.Fi, which is a fintech division aimed at creating investment opportunities with a focus on cryptocurrency.
The company's board has approved a financial strategy that involves investing up to $250 million of its $700 million cash reserves in a range of financial instruments, including tailored exchange-traded funds (ETFs), separately managed accounts (SMAs), and Bitcoin.
CEO Devin Nunes is positioning Truth.Fi as the financial arm of its media network, which already includes Truth Social and the streaming platform Truth+.
The company plans to develop investment products focused on American-first industries, targeting growth sectors such as manufacturing, energy, and crypto/blockchain assets.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/02/43459342/chip-equipment-maker-applied-materials-stock-is-up-over-9-ytd-even-as-charts-point-to-bearish-patterns-heres-what-investors-should-look-at">Chip Equipment Maker Applied Materials Stock Is Up Over 9% YTD Even As Charts Point To Bearish Patterns: Here&#8217;s What Investors Should Look At</a></li>
</ul>
Photo courtesy: Shutterstock

Market Summary

Technicals

BIDU

PINS

RDDT

SNAP

Trump Media & Technology Trading Volume Falls Amid Expensive Valuations And Bearish Charts: Here's What Technical Analysis For DJT Stock Shows

Modern Plant Based Foods

Concerned shareholders of Akanda Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAN#NASDAQ">AKAN</a>) have replaced a majority of the board of directors of the corporation, with highly-qualified and motivated directors.

The concerned shareholders of the corporation collectively own or control approximately 54.1% of the issued and outstanding common shares of Akanda, and on June 22nd passed a written resolution of the shareholders of the corporation pursuant to the provisions of the Business Corporations Act (Ontario) removing each of Louisa Mojela, Philip van den Berg, Charles Ki&eacute;, Gila Jones, Gugu Dingaan and Bridget Baker as directors of the corporation, and electing each of Harvinder Singh, Mohsen Rahimi, Jatinder Dhaliwal and Kathryn Field to fill the vacancies created thereby, to serve the remaining terms of the outgoing directors, or until their successors are elected or appointed.

The actions taken follow an initial outreach to the former board of directors of Akanda by David Jenkins, a long-standing shareholder of the corporation. Jenkins, through his wholly-owned holding company 1306077 B.C. Ltd., owns approximately 6.8% of the issued and outstanding Akanda shares.

Jenkins stated: &quot;As a long-term investor in Akanda, I wish to see Akanda managed prudently and professionally, with a view to the long-term best interests of the corporation. I am grateful for the support of my fellow shareholders who shared my concerns, and I look forward to a brighter future for all Akanda shareholders.&quot;

It is expected that the new board of directors of Akanda will soon meet to pass necessary resolutions following the reconstitution of the board concerning certain governance matters, including with respect to the committees of the board and to attend to such other transitional matters as may be required, and that the foregoing will be announced by the corporation in short order.

Harvinder Singh

Singh&#39;s long career has spanned over 30 years where he has worked as a CEO, COO and as product director for companies such as Ergolab, Lighting Manufacturing, Transact Network, Heathrow Medical Services among many others. Singh is regarded highly as a branding expert with a focus on European and far-East markets and has shown numerous occasions the ability to increase the penetration of products into markets by honing and improving them for individual markets and users.

Mohsen Rahimi

Rahim has management experience in a broad range of sectors, including commercial, retail and international import and export, having held senior positions at Kowsar Holdings and Tin95 Holdings, which are both private investment firms. In addition to now being a director of Akanda, Rahimi is a director of Modern Plant Based Foods Inc. (OTCPK:MDRNF) and Peakbirch Commerce Inc. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/PKBFF#OTCQB">PKBFF</a>), both Canadian Securities Exchange listed issuers, and Binovi Technologies Corp. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/BNVIF#OTCQB">BNVIF</a>), a TSX Venture Exchange listed issuer.

Jatinder Dhaliwal

Jatinder Dhaliwal is a registered pharmacist, and has significant capital markets experience. He has served as CEO and director of multiple publicly traded cannabis companies. He has served as a director of a licensed producer and extractor. He has extensive knowledge in agricultural, medical and pharmaceutical operations. Dhaliwal is a certified medical cannabis practitioner. He has overseen operations of numerous retail and commercial operations and implemented various health protocols and technology advances into health and wellness chains.

Katharyn Field

Field is currently president of Halo Collective, Inc. (NEO:HALO) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HCANF#OTCQX">HCANF</a>), a position she has held since February 2020. From April 2019 through February 2020, Field served as chief strategy officer at HALO. Field&#39;s resume includes senior positions at notable companies and institutions such as The White House, The Brookings Institution, and Bain &amp; Company. Field operated a strategy consulting practice focused on cannabis and also worked at MariMed in 2018 as executive vice president of corporate development. Halo, of which Field is the president, holds approximately 41% of the voting securities of Akanda.

Tej Virk, a director and the current CEO of Akanda will remain in his position with the corporation.

Photo by <a href="https://unsplash.com/@timberfoster?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Tim Foster</a> on <a href="https://unsplash.com/s/photos/cannabis?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>

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