Latest news for Renalytix (OTC:RNLXY) Stock

Renalytix PLC is a developer of artificial intelligence-enabled clinical in vitro diagnostic solutions for kidney disease, one of the common and costly chronic medical conditions globally. The company's product is KidneyIntelX which is being designed to make improvements in kidney disease diagnosis and prognosis, transplant management, clinical care, patient stratification for drug clinical trials, and drug target discovery.

Renalytix PLC

<p>Parke Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PKBK#NASDAQ">PKBK</a>) reported quarterly earnings of $0.62 per share. This is a 675 percent increase over earnings of $0.08 per share from the same period last year.</p>


Earnings

News

PKBK

Parke Bancorp Q3 EPS $0.62 Up From $0.08 YoY

Management

MVST

Microvast Holdings Says Fariyal Khanbabi To Become CFO On Or About Oct. 21

<p>Florida Gov. <strong><a href="https://www.benzinga.com/topic/ron-desantis" target="_blank" rel="noreferrer noopener">Ron DeSantis</a></strong> is apparently using yet another state agency in his ongoing crusade to defeat two constitutional amendments that will appear on the ballot in the&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November 2024 election</a>.</p>
<p>This time it's the Florida Department of Education, which is helping pay for a new television ad warning of the "risks to marijuana" with less than three weeks until voters will decide on the cannabis legalization initiative, <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a>, which enjoys broad popular support.</p>
<p>A co-sponsored ad from the Departments of Health, Education and Children &amp; Families, <a href="https://jasongarcia.substack.com/p/desantis-orders-another-state-agency">reported</a> <strong>Jason Garcia </strong>on Seeking Rents targets parents, warning them of the dangers of cannabis, saying it "can do real damage to the still-developing brains of young people."</p>
<p>"Protect your teen's future and mental health: Make sure they know the risks to marijuana," the Education Department ad warns.</p>
<p><strong>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41405555/floridas-cannabis-amendment-record-spending-unlikely-alliances-and-criticism-from-the-catholic-c">Florida&#8217;s Cannabis Amendment: Record Spending, Unlikely Alliances, And Criticism From The Catholic Church</a></strong></p>
<h2 class="wp-block-heading"><strong>Transportation Dept. Goes Low</strong></h2>
<p>The Department of Transportation (DOT), which ran a <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">tax-payer-funded ad</a> in September that sparked outrage as it equated cannabis with DUI crashes, said that legalized marijuana is "putting everyone at risk.&#8221;</p>
<p>Now the DOT is out with another ad in which three sheriffs make various claims about the harms of cannabis, including one who suggests that marijuana use is associated with a greater risk of domestic violence.</p>
<p>"When we make home visits for domestic violence calls, they're often associated with marijuana use," said Polk County Sheriff <strong>Grady Judd</strong>, a claim that runs contrary to research on the topic.</p>
<p>Duval County Sheriff <strong>T.K. Waters </strong>says there are "too many kids going to the ER because of weed gummies and joints laced with fentanyl."</p>
<p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><br />
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Florida Sheriffs Alert: Impaired driving affects more than just you. Marijuana is sending more kids to the E.R., is often tied to domestic abuse, and is causing increased car collisions, fatalities, and insurance rates. Educate your families—protect your kids! <a href="https://t.co/xoJav4DyGn">pic.twitter.com/xoJav4DyGn</a></p>
<p>&mdash; FLORIDA DOT (@MyFDOT) <a href="https://twitter.com/MyFDOT/status/1846978462126325865?ref_src=twsrc%5Etfw">October 17, 2024</a></p></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<p></p></figure></p>
<h2 class="wp-block-heading"><strong>Scary Anti-Abortion Ads</strong></h2>
<p>The well-funded Amendment 4 seeks to overturn the near total abortion ban signed by DeSantis that went into effect in May 2024, and bans abortion after six weeks. </p>
<p>The ad, which features a DeSantis appointed anti-abortion radiologist, is apparently designed to counter pro-Amendment 4 videos that include women and doctors telling horrific personal stories about the consequences of Florida's statewide abortion ban, one of the strictest in the nation.</p>
<p><strong>Now Read:</strong></p>
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41365515/ron-desantis-pregnant-pigs-and-floridas-cannabis-legalization-battle-over-constitutional-amendme"><strong>Ron DeSantis, Pregnant Pigs And Florida&#8217;s Cannabis Legalization: Battle Over Constitutional Amendment Rages</strong></a></li>
</ul>



Cannabis

Government

Politics

Legal

DeSantis Doubles Down With New Taxpayer-Funded Anti-Marijuana Ads, One Links Cannabis To Domestic Violence

Guidance

SAVE

Spirit Airlines Says Consistent With Previously Provided Guidance, Expects To End 2024 With Over $1B Of Liquidity

<p>Investors with a lot of money to spend have taken a bullish stance on <strong>VF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with VFC, it often means somebody knows something is about to happen.</p>
<p>Today, Benzinga's options scanner spotted 9 options trades for VF.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.</p>
<p>Out of all of the options we uncovered, 8 are puts, for a total amount of $304,728, and there was 1 call, for a total amount of $46,320.</p>
<h3>Expected Price Movements</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.5 to $27.5 for VF over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in VF's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to VF's substantial trades, within a strike price spectrum from $12.5 to $27.5 over the preceding 30 days.</p>
<h3>VF 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1729282548_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>VFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$8.0</td>
<td>$7.9</td>
<td>$7.9</td>
<td>$27.50</td>
<td>$60.0K</td>
<td>0</td>
<td>15</td>
</tr>
<tr>
<td>VFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.15</td>
<td>$25.00</td>
<td>$56.1K</td>
<td>83</td>
<td>110</td>
</tr>
<tr>
<td>VFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$8.7</td>
<td>$7.7</td>
<td>$7.72</td>
<td>$12.50</td>
<td>$46.3K</td>
<td>861</td>
<td>60</td>
</tr>
<tr>
<td>VFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.2</td>
<td>$2.17</td>
<td>$2.2</td>
<td>$20.00</td>
<td>$34.3K</td>
<td>6.1K</td>
<td>220</td>
</tr>
<tr>
<td>VFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$0.69</td>
<td>$0.6</td>
<td>$0.66</td>
<td>$18.50</td>
<td>$33.0K</td>
<td>6.1K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>
</p>
<h3>About VF</h3>
<p>VF designs, produces, and distributes branded apparel, footwear, and accessories. Its apparel categories are active, outdoor, and work. Its portfolio of about a dozen brands includes Vans, The North Face, Timberland, Altra, and Dickies. VF markets its products in the Americas, Europe, and Asia-Pacific through wholesale sales to retailers, e-commerce, and branded stores owned by the company and partners. Tracing its roots to 1899, the company has evolved through many brand acquisitions and dispositions.</p>
<p>After a thorough review of the options trading surrounding VF, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Present Market Standing of VF</h3>
<ul>
<li>With a volume of 4,359,740, the price of VFC is down -0.96% at $19.6. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 10 days.</li>
</ul>
<h3>What Analysts Are Saying About VF</h3>
<p>A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.0.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from Wells Fargo has revised its rating downward to Underweight, adjusting the price target to $15.<br />
&#x2A; Reflecting concerns, an analyst from Jefferies lowers its rating to Hold with a new price target of $20.<br />
&#x2A; An analyst from Goldman Sachs downgraded its action to Neutral with a price target of $20.<br />
&#x2A; An analyst from Stifel persists with their Buy rating on VF, maintaining a target price of $25. </p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest VF options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Options

Markets

This Is What Whales Are Betting On VF

<p>Investors with a lot of money to spend have taken a bullish stance on <strong>Palantir Technologies</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PLTR, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 47 uncommon options trades for Palantir Technologies.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 55% bullish and 38%, bearish.</p>
<p>Out of all of the special options we uncovered, 13 are puts, for a total amount of $871,372, and 34 are calls, for a total amount of $2,112,483.</p>
<h3>Expected Price Movements</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $65.0 for Palantir Technologies over the last 3 months. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>In terms of liquidity and interest, the mean open interest for Palantir Technologies options trades today is 6416.19 with a total volume of 25,684.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Palantir Technologies's big money trades within a strike price range of $15.0 to $65.0 over the last 30 days.</p>
<h3>Palantir Technologies Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1729282543_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>PLTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.9</td>
<td>$6.15</td>
<td>$6.15</td>
<td>$37.00</td>
<td>$250.3K</td>
<td>4.0K</td>
<td>412</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/29/24</td>
<td>$8.85</td>
<td>$8.75</td>
<td>$8.85</td>
<td>$35.00</td>
<td>$177.0K</td>
<td>16</td>
<td>207</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$13.85</td>
<td>$13.8</td>
<td>$13.85</td>
<td>$29.00</td>
<td>$138.5K</td>
<td>6.1K</td>
<td>167</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$14.95</td>
<td>$14.8</td>
<td>$14.8</td>
<td>$30.00</td>
<td>$133.2K</td>
<td>10.0K</td>
<td>91</td>
</tr>
<tr>
<td>PLTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$3.4</td>
<td>$3.3</td>
<td>$3.35</td>
<td>$43.00</td>
<td>$114.5K</td>
<td>9.4K</td>
<td>3.0K</td>
</tr>
</tbody>
</table>
</p>
<h3>About Palantir Technologies</h3>
<p>Palantir is an analytical software company that focuses on leveraging data to create efficiencies in its clients' organizations. The firm serves commercial and government clients via its Foundry and Gotham platforms, respectively. The Denver-based company was founded in 2003 and went public in 2020.</p>
<h3>Present Market Standing of Palantir Technologies</h3>
<ul>
<li>Trading volume stands at 31,035,434, with PLTR's price up by 2.31%, positioned at $42.97.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 17 days.</li>
</ul>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.</p>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Palantir Technologies with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


PLTR

Palantir Technologies Unusual Options Activity

<p>Financial giants have made a conspicuous bullish move on e.l.f. Beauty. Our analysis of options history for e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) revealed 15 unusual trades.</p>
<p>Delving into the details, we found 53% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $195,032, and 10 were calls, valued at $584,694.</p>
<h3>What's The Price Target?</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $220.0 for e.l.f. Beauty, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for e.l.f. Beauty's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of e.l.f. Beauty's whale activity within a strike price range from $85.0 to $220.0 in the last 30 days. </p>
<h3>e.l.f. Beauty Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1729282539_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>ELF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$24.7</td>
<td>$23.7</td>
<td>$23.79</td>
<td>$85.00</td>
<td>$246.8K</td>
<td>231</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ELF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$15.7</td>
<td>$15.5</td>
<td>$15.7</td>
<td>$120.00</td>
<td>$69.0K</td>
<td>102</td>
<td style="text-align: right;">126</td>
</tr>
<tr>
<td>ELF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$24.2</td>
<td>$23.9</td>
<td>$23.9</td>
<td>$85.00</td>
<td>$52.5K</td>
<td>231</td>
<td style="text-align: right;">127</td>
</tr>
<tr>
<td>ELF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$11.6</td>
<td>$11.4</td>
<td>$11.47</td>
<td>$110.00</td>
<td>$50.9K</td>
<td>1.1K</td>
<td style="text-align: right;">121</td>
</tr>
<tr>
<td>ELF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$11.9</td>
<td>$11.5</td>
<td>$11.5</td>
<td>$110.00</td>
<td>$46.0K</td>
<td>1.1K</td>
<td style="text-align: right;">42</td>
</tr>
</tbody>
</table>
</p>
<h3>About e.l.f. Beauty</h3>
<p>e.l.f. Beauty Inc is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty-free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face, and skin concern. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out sales within the US and internationally, out of which maximum revenue is generated from the US.</p>
<p>After a thorough review of the options trading surrounding e.l.f. Beauty, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Current Position of e.l.f. Beauty</h3>
<ul>
<li>Trading volume stands at 1,720,765, with ELF's price up by 0.24%, positioned at $108.2.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 19 days.</li>
</ul>
<h3>What The Experts Say On e.l.f. Beauty</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $181.6.</p>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from Truist Securities persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $130.<br />
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on e.l.f. Beauty, which currently sits at a price target of $165.<br />
&#x2A; Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $167.<br />
&#x2A; Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $223.<br />
&#x2A; An analyst from DA Davidson has decided to maintain their Buy rating on e.l.f. Beauty, which currently sits at a price target of $223. </p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest e.l.f. Beauty options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Behind the Scenes of e.l.f. Beauty's Latest Options Trends

Offerings

MNTS

Momentus Files Prospectus Relates To Offer, Sale From Time-To-Time Of 20.5M Shares Of Class A Common Stock By Selling Stockholders

FRAF

Franklin Financial Services' Unit Farmers And Merchants Trust Completes Portfolio Shift; Unit Expects To Recover $3.4M After-Tax Loss In About 2.3 Years

ATHA

Athira Pharma Receives Nasdaq Non-Compliance Notice

Euda Health Holdings Limited - Ordinary Shares

EUDA

Euda Health Holdings Files For $100M Mixed Shelf

<p>A recent <a href="https://www.crainsdetroit.com/cannabis/michigan-marijuana-sales-fall-market-faces-oversupply">article</a> by <strong>Dustin Walsh</strong> published in Crain's Detroit points out that <a href="https://www.benzinga.com/topic/michigan-cannabis">Michigan&#8217;s</a> legal cannabis market is facing a sharp decline in September, with sales dropping nearly 10% from August. </p>
<p>Total sales for the month amounted to $266.9 million, down from the record-breaking $295.4 million in August. </p>
<p>According to the author, this decrease reflects not only the end of summer but also the oversupply issue plaguing the state's industry.</p>
<h3 class="wp-block-heading"><strong>Drop In Prices</strong></h3>
<p>The drop in cannabis prices in Michigan is significant, with the average price of an ounce of recreational flower hitting an all-time low at $78.68, down 15.6% since January. In <a href="https://www.benzinga.com/markets/cannabis/24/10/41170083/michigan-cannabis-market-hits-record-sales-amid-low-weed-prices-and-rise-in-cultivation-licenses">September</a> an ounce of flower cost $80.14.</p>
<p>In regions like the Upper Peninsula, retailers offered heavy discounts to maintain sales, even though the overall sales totals still fell by 16.9%.</p>
<p>One probable reason behind this drop in prices is the surge in Ohio&#8217;s recreational cannabis market, which particularly affects the eastern and southeastern parts of the state. Ohio sold over 5,200 pounds of marijuana in September, with sales totaling $87.1 million, which likely contributed to Michigan&#8217;s 23% drop in sales in that region.</p>
<p><strong>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41170083/michigan-cannabis-market-hits-record-sales-amid-low-weed-prices-and-rise-in-cultivation-licenses">Michigan Cannabis Market Hits Record Sales Amid Low Weed Prices And Rise In Cultivation Licenses</a></strong></p>
<h3 class="wp-block-heading"><strong>Competition Intensifies</strong></h3>
<p>On the supply side, overproduction is said to be the largest factor affecting Michigan's market.</p>
<p>With 3.77 million active cannabis plants being grown, a 45% increase from the previous year, the market is flooded, driving prices even lower. Market production has intensified. By September, growers were using 82% of their licensed grow capacity, up from 56% in April, further intensifying the price pressure.</p>
<p>Also, the State has registered a <a href="https://www.benzinga.com/markets/cannabis/24/10/41170083/michigan-cannabis-market-hits-record-sales-amid-low-weed-prices-and-rise-in-cultivation-licenses">significant increase In cultivation</a> licenses this year. </p>
<p>Another shadow over Michigan's legal market is the infiltration of unlicensed cannabis, which law enforcement believes has been illegally integrated into the licensed market following a court ruling in 2023, the author states. </p>
<p>Though this ruling has been reversed, concerns about organized crime and the impact of unlicensed products remain high.</p>
<ul>
<li><strong><em>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</em></strong></li>
</ul>
<h3 class="wp-block-heading">The Market<strong> Perspective</strong></h3>
<p>In recent years, Michigan's cannabis market has expereienced <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36874881/key-success-states-legal-marijuana-market-weed-sales">explosive growth</a>, reaching a record $3.06 billion in sales in 2023, showcasing one of the largest growth spurts in the recent history of the US cannabis market.</p>
<p>Driven by increased consumer demand, expansion of dispensaries and cross-border trading, the Michigan cannabis <a href="https://www.benzinga.com/markets/cannabis/24/09/40831750/cannabis-sales-in-michigan-soar-to-295-4m-for-a-recording-breaking-august#">market soared </a>to $294.1 million in recreational sales in August and nearly $1.3 million in medical marijuana sales.</p>
<p>Now, oversupply and a drop in prices might be telling the story of a market that has matured and is finally reaching its peek.</p>
<ul>
<li><strong>Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36874881/key-success-states-legal-marijuana-market-weed-sales">EXCLUSIVE: Decoding Michigan&#8217;s Cannabis Boom &#8211; Record Sales Of $3B And $457M In Taxes In 2023</a></strong></li>
</ul>
<p><em>Cover: Photo by Anon via Pexels</em></p>


Retail Sales

Michigan's Cannabis Market Faced With Oversupply And Falling Prices

<p>The Nasdaq Stock Market&#xAE; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) announced that trading will resume in Nebius Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIS#NASDAQ">NBIS</a>) at 9:00 a.m. Eastern Time on October 21, 2024. Trading in the company's stock was halted on February 28, 2022 at 6:38 a.m. Eastern Time under its former name and symbol, Yandex N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YNDX#NASDAQ">YNDX</a>).</p>
<p>For news and additional information about the company, please contact the company directly or check under the company's symbol using InfoQuotesSM on the Nasdaq&#xAE; Web site.</p>
<p>For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at <a href="https://www.globenewswire.com/Tracker?data=WjQUNlxfFmVBK7BR8EW37diN9ftJErTrpnrtpgEeYjl3joHD4Qt0Af2MtV8v9KkaJho_3sVIZt12Y8zQX36diJGklerJsUGkOTGbBIEdvTU="><i>http://www.nasdaq.com</i></a><i>.</i></p>


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NBIS

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Nasdaq Resumes Trading In Nebius Group N.V.  At 9:00 a.m. ET On October 21, 2024

Public Storage Appoints Chris Sambar As COO

<p>Flux Power Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLUX#NASDAQ">FLUX</a>), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced that on October 16, 2024, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, with the Securities and Exchange Commission ("SEC").</p>
<p>This notification has no immediate effect on the listing of the Company's common stock on the Nasdaq. Under the Nasdaq rules, the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the Form 10-K to regain compliance. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.</p>
<p>The Company is working diligently to complete its Form 10-K and plans to file its Form 10-K as promptly as practicable to regain compliance with the Listing Rule.</p>


FLUX

Flux Power Receives Non-Compliance Letter From Nasdaq

Walmart Reaches Settlement Agreement To Resolve Shareholder Derivative Actions Related To Opioid Oversight Claims; Court Approval Pending For $123M Insurance Payout And Five-Year Corporate Governance Measures; No Admission Of Liability From Walmart Or Defendants

<p>Wall Street powered ahead this week as stronger-than-expected bank earnings and upbeat guidance pushed the S&amp;P 500 and Dow Jones <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea">Industrial Average to record highs.</a></p>
<p>The September retail sales report positively surprised expectations, while a notable drop in weekly jobless claims reinforced the perception that the <a href="https://www.benzinga.com/news/retail-sales/24/10/41379775/september-retail-sales-exceed-estimates-jobless-claims-fall-more-than-expected">U.S. economy remains strong.</a></p>
<p>This momentum has led some economists to reconsider their expectations for the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41386234/strong-september-retail-sales-put-feds-next-move-in-doubt-interest-rate-cuts-are-">Federal Reserve's next move</a>, with growing doubts about the likelihood of further interest rate cuts as the economy races at full throttle.</p>
<p>The recent upswing in Treasury yields brought a twist to the housing market, sending mortgage rates soaring <a href="https://www.benzinga.com/markets/24/10/41376716/mortgage-demand-sees-sharpest-weekly-drop-since-april-2020-as-rates-climb-above-6-5">and hammering mortgage demand.</a> Homebuyers pulled back sharply, with mortgage applications recording the sharpest weekly plunge since the depths of the pandemic in April 2020.</p>
<p>In the commodities market, oil prices tumbled below the $70-per-barrel mark, marking their worst weekly performance since December 2022. The selloff was triggered by a slight easing of tensions in the Middle East, though the geopolitical landscape remains fraught with risk.</p>
<h3 class="wp-block-heading">Gold's Bullish Trend</h3>
<p>Gold, as tracked by the <strong>SPDR Gold Trust</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), shined bright this week, surging to an all-time high above $2,700 per ounce. The precious metal logged four consecutive days of gains, cementing its status as a safe-haven asset ahead of the highly awaited U.S. presidential elections. Bank of America sees further upside <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41390144/gold-could-reach-3-000-by-2025-bank-of-america-analyst-says-ultimate-perceived-safe">to $3,000 per ounce</a>. </p>
<h3 class="wp-block-heading">Netflix Beats Expectations</h3>
<p><strong>Netflix Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported strong third-quarter earnings, exceeding both revenue and EPS forecasts, and provided bullish guidance for the fourth quarter. The streaming giant anticipates a significant subscriber boost, largely driven by the popularity of &#8220;Squid Game&#8221; and its <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">upcoming global content expansions.</a></p>
<h3 class="wp-block-heading">Bitcoin ETF Inflows</h3>
<p>BlackRock&#8217;s <strong>iShares Bitcoin Trust</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NYSE">IBIT</a>) saw strong inflows, surpassing $1 billion in a week, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41403554/blackrocks-bitcoin-etf-gobbles-up-1b-this-week-fidelity-leads-among-ethereum-etfs-with-31m">indicating strong institutional interest.</a> Fidelity leads Ethereum ETFs with $31 million in assets, reflecting growing demand for cryptocurrency exposure in traditional investment vehicles.</p>
<h3 class="wp-block-heading">iPhone 16 Sales</h3>
<p><strong>Apple Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)'s iPhone 16 experienced a 20% sales increase in China, fueled by strong demand. The absence of AI capabilities led to early price cuts, highlighting competitive market pressures and evolving consumer expectations <a href="https://www.benzinga.com/government/24/10/41399541/apple-iphone-16-sees-20-sales-surge-in-china-but-ai-absence-prompts-early-price-cuts">for advanced smartphone features.</a></p>
<p><strong>Read Now:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41402089/goldman-sachs-highlights-20-top-short-squeeze-opportunities-for-q3-earnings-season">Goldman Sachs Highlights 20 Top Short-Squeeze Opportunities For Q3 Earnings Season</a></strong></li>
</ul>
<p><em>Image: Illustrated using AI</em></p>


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Bank Earnings Propel Wall Street To Record Peaks, Oil Plunges Below $70, Gold Shines At All-Time Highs: This Week In The Market

<p>United Security (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBFO#NASDAQ">UBFO</a>) reported quarterly earnings of $0.22 per share. This is unchanged from the same period last year.</p>


UBFO

United Security Q3 EPS $0.22, Same YoY

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BABA

Benzinga Market Summary: S&P Closes Higher Amid Strength In Netflix, Chinese Stocks Rise On Economic Data, Gold Surges

<p><i>New FARAWAVE&#x2122; NAV Ablation Catheter and FARAVIEW&#x2122; Software combine with OPAL HDx&#x2122; Mapping System to provide visualization during pulsed field ablation</i></p>
<p>MARLBOROUGH, Mass., Oct. 18, 2024 /PRNewswire/ -- Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) today announced it has received U.S. Food and Drug Administration (FDA) approval for the navigation-enabled FARAWAVE&#x2122; NAV Ablation Catheter for the treatment of paroxysmal atrial fibrillation (AF) and FDA 510(k) clearance for the new FARAVIEW&#x2122; Software, which will combine to provide visualization for cardiac ablation procedures with the FARAPULSE&#x2122; Pulsed Field Ablation (PFA) System. These technologies are compatible exclusively with Boston Scientific's existing cardiac mapping technology and the company's latest offering, the OPAL HDx&#x2122; Mapping System.</p>


Biotech

Boston Scientific Launches Next Generation Of Cardiac Mapping For The FARAPULSE Pulsed Field Ablation System

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