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On Wednesday, major U.S. indices showed mixed performance: the Dow Jones Industrial Average dipped slightly by 0.06% to 39,308, while the S&amp;P 500 climbed 0.5% to 5,537.02, and the Nasdaq increased by 0.9% to 18,188.30.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
The stock closed 4.57% higher at $128.28, with an intraday high and low of $128.28 and $121.36 respectively. The 52-week high and low stand at $140.76 and $39.23. Benzinga reported that Nvidia CEO Jensen Huang <a href="https://www.benzinga.com/markets/equities/24/07/39611550/nvidia-ceo-jensen-huang-sells-over-29m-worth-of-shares-as-companys-stock-shoots-up-155-in-2024-a">sold over $29 million</a> worth of shares amid the company's remarkable stock market performance.
Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>)
Koss shares soared 143.81% to close at $10.63, with an intraday high and low of $18.73 and $5.22 respectively. The 52-week high and low are $18.73 and $2.27. The stock&#8217;s movement was <a href="https://www.benzinga.com/news/24/07/39618559/koss-corp-stock-is-ripping-higher-as-roaring-kitty-speculation-mounts-whats-going-on">driven by speculation</a> about recent moves from meme stock trader Keith Gill, also known as &#8220;Roaring Kitty&#8221;.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39582406/what-are-germans-rolling-in-their-joints-this-denver-cannabis-company-found-out-at-berlins-mary-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Cannabis Company Unveils Unique Findings At Germany</a>
Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)
Broadcom shares rose 4.33% to close at $1,729.22, with an intraday high and low of $1,729.22 and $1,664.46 respectively. The 52-week high and low are $1,851.62 and $795.09. The stock&#8217;s rise followed former Speaker of the House Nancy Pelosi&#8217;s <a href="https://www.benzinga.com/news/24/07/39620788/whats-going-on-with-broadcom-stock-wednesday">recent purchase</a> of call options in the semiconductor giant.
NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)
Nio shares traded 7.51% higher to close at $4.87, with an intraday high and low of $5.04 and $4.59 respectively. The 52-week high and low are $16.18 and $3.61. Benzinga reported that the shares moved higher amid <a href="https://www.benzinga.com/news/24/07/39621784/whats-going-on-with-ev-maker-nios-stock\">strength in Chinese markets</a> and a rally in the broader EV market after several companies reported strong EV delivery figures.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose 6.54% to close at $246.39, with an intraday high and low of $248.35 and $234.25 respectively. The 52-week high and low are $299.29 and $138.8. Benzinga noted that Tesla reported <a href="https://www.benzinga.com/markets/equities/24/07/39612719/teslas-q2-deliveries-beat-draws-mixed-reaction-from-analysts-early-independence-day-celebration-">above-consensus deliveries</a> for the second quarter, sending its stock up by over 10% to its highest level in nearly six months.
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39588200/bill-gates-hired-steve-ballmer-as-the-first-business-manager-at-microsoft-and-now-is-behind-him-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Gates Hired Steve Ballmer As The First Business Manager At Microsoft And Now Is Behind Him On The Billionaire&#8217;s Index, Thanks To AI</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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NVDA

TSLA

Nvidia, Koss Corp, Broadcom, Nio, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Wedbush analyst Dan Ives has expressed his belief that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is significantly undervalued due to its AI potential and data-driven approach.
What Happened: Ives highlighted Tesla&#8217;s ability to overcome sales challenges in China. He also noted that Wedbush has raised Tesla&#8217;s price target to $300 from $275. Ives said this in an interview with Bloomberg Radio. 
The analyst emphasized that Tesla&#8217;s Full Self-Driving feature positions it as the &#8220;most undervalued AI play in the market.&#8221; He predicted that Tesla&#8217;s trillion-dollar valuation will be driven by AI and a data-driven strategy. 
Ives also suggested that the anticipated autonomous robotaxi, to be unveiled by Tesla, will be a game-changer.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great to be on <a href="https://twitter.com/BloombergRadio?ref_src=twsrc%5Etfw">@BloombergRadio</a> with <a href="https://twitter.com/tomkeene?ref_src=twsrc%5Etfw">@tomkeene</a> <a href="https://twitter.com/ptsweeney?ref_src=twsrc%5Etfw">@ptsweeney</a> discussing the AI Revolution and this 1995 Moment for tech stocks and why we view Tesla as the most undervalued AI play in this market <a href="https://twitter.com/bsurveillance?ref_src=twsrc%5Etfw">@bsurveillance</a> &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f576;&#xFE0F;&#x1f386;&#x1f447; <a href="https://t.co/g2Yao7Y1Lf">https://t.co/g2Yao7Y1Lf</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1808565184421900293?ref_src=twsrc%5Etfw">July 3, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39627834/rich-dad-poor-dad-author-robert-kiyosaki-says-charts-indicate-biggest-crash-in-history-com">&#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Says Charts Indicate &#8216;Biggest Crash In History Coming&#8217; — Followed By A Bitcoin Bull Run In Which King Crypto &#8216;Easily&#8217; Touches $10M</a>
Why It Matters: Ives&#8217; comments come in the wake of a series of events that have put Tesla in the spotlight. On Tuesday, Ives <a href="https://www.benzinga.com/markets/equities/24/07/39610934/tesla-price-target-raised-to-300-by-wedbush-analyst-dan-ives-amid-1-trillion-tech-potential-the-">raised Tesla&#8217;s price target</a> to $300, with a bull case of $400, citing a positive shift in Tesla&#8217;s demand story for the second half of 2025. 
Simon Hale, a Senior Portfolio Manager at Wellington Altus Private Wealth, praised Rich Ross, a renowned technical analyst, and his predictions for Tesla&#8217;s future to <a href="https://www.benzinga.com/markets/equities/24/07/39611697/tesla-set-for-new-all-time-highs-as-wall-street-bigwigs-simon-hale-and-rich-ross-back-ev-maker-f">reach new all-time highs</a>. Hale&#8217;s comments come as Tesla&#8217;s stock continues to make headlines with its recent price target increase and Elon Musk&#8216;s <a href="https://www.benzinga.com/top-stories/24/07/39607932/exclusive-tesla-shorts-were-profitable-this-year-until-shareholders-approved-musks-pay-package-exper">warning to short sellers</a>.
Meanwhile, Tesla is set to showcase its Cybertruck and Optimus Gen 2 at the World AI Conference in Shanghai, China, on Thursday, while <a href="https://www.benzinga.com/news/24/07/39624826/teslas-july-4th-plans-in-china-elon-musk-to-show-off-cybertruck-optimus-bot-at-world-ai-conference-t">America celebrates Independence Day</a>. The event will feature some of the biggest brands across the globe as leaders discuss technology advancements and industry trends.
Despite the positive sentiment around Tesla, not all investors are bullish. Former Speaker of the House Nancy Pelosi (D-Calif.) recently disclosed several new stock trades, <a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol">including selling Tesla shares</a>, ahead of the Fourth of July holiday.
Price Action: Tesla Inc. closed at $246.39 on Wednesday, up 6.54% for the day. In after-hours trading, the stock continued to rise, gaining an additional 0.86%. Year to date, Tesla&#8217;s stock is down 0.82%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam">2024 Election Betting Odds React To Biden Debate Disaster: Trump Odds Hit All-Time High, Kamala Harris Soars</a>
</blockquote>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Ratings

Tesla's Trillion-Dollar Potential Is Driven By AI, Says Wedbush Analyst Dan Ives: 'Most Undervalued AI Play In The Market'

On Wednesday, Cathie Wood-led Ark Invest made a notable move by offloading a significant number of shares in Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), despite the recent rally driven by the company&#8217;s impressive second-quarter delivery numbers.
The Tesla Trade
Ark Invest reduced its stake in Tesla across its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), selling 13,213 shares. This transaction came as a surprise, given that Tesla&#8217;s shares had recently soared 10.20% on Tuesday, marking the best intraday session since late April. Notably, on Tuesday, Ark Invest sold Tesla shares <a href="https://www.benzinga.com/markets/equities/24/07/39611275/cathie-woods-ark-invest-sells-tesla-shares-worth-14-5m-amid-rally-driven-by-q2-delivery-numbers-">worth $14.5 million.</a>
The boost was primarily driven by the Elon Musk-led company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">second-quarter performance</a>. Tesla reported 443,956 deliveries, significantly exceeding the expected 439,000 vehicles. This upside surprise fueled a rally, propelling shares toward their 2024 high. The majority of sales came from the affordable Models 3 and Y, with only 21,551 units from the pricier Models X, S, and the new Cybertruck.
Based on the last closing price of $246.39, the value of the sold shares on Wednesday stands at approximately $3.25 million. For the day, Tesla stock shot up 6.5%.
Other Key Trades:
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39582406/what-are-germans-rolling-in-their-joints-this-denver-cannabis-company-found-out-at-berlins-mary-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Cannabis Company Unveils Unique Findings At Germany</a> 
<ul>
<li>Ark Invest&#8217;s ARKF fund sold shares of Teladoc Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>). </li>
<li>The ARKG fund bought 2,551 shares of Intellia Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>) and sold shares of Verve Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERV#NASDAQ">VERV</a>). </li>
<li>The ARKK fund bought shares of Archer Aviation Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NASDAQ">ACHR</a>) and sold shares of Ginkgo Bioworks Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNA#NYSE">DNA</a>). </li>
<li>The ARKQ fund sold shares of AeroVironment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>). The ARKX fund bought shares of Blade Air Mobility Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDE#NASDAQ">BLDE</a>).</li>
</ul>
Read Next:
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<li> <a href="https://www.benzinga.com/markets/cannabis/24/06/39437268/the-rise-and-fall-of-pioneering-weed-markets-rip-california-and-colorado-cannabis-industries?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Rise And Fall Of Pioneering Weed Markets: RIP California And Colorado Cannabis Industries</a></li>
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Images via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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TDOC

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Cathie Wood's Ark Invest Dumps Another $3.25M Worth Of Tesla Shares Amid Searing Q2 Deliveries Rally

The parent company of Saks Fifth Avenue has reportedly agreed to acquire its rival Neiman Marcus for $2.65 billion. The deal, which is expected to be announced imminently, will see the involvement of Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: The acquisition, which has been approved by the boards of both companies, will result in the creation of a luxury retail powerhouse, <a href="https://www.wsj.com/business/deals/saks-owner-to-buy-neiman-marcuswith-help-from-amazon-f71a0fda?st=pdk11e57geot7j7&amp;mod=googlenewsfeed">reported</a> The Wall Street Journal, citing people familiar with the matter.
The deal is being financed by HBC, the holding company that purchased Saks in 2013. Amazon will take a minority stake in the new entity, to be named Saks Global, and provide it with technological and logistical support. Another minority shareholder is Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>).
See Also: <a href="https://www.benzinga.com/markets/equities/24/06/39566797/roaring-kitty-keith-patrick-gill-accused-of-gamestop-pump-and-dump-scheme-in-class-action-lawsui?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Roaring Kitty&#8217; Keith Patrick Gill Accused Of Gamestop Pump-And-Dump Scheme In Class Action Lawsuit: &#8216;Suffered Significant Losses And Damages&#8217;</a>
The combined company is expected to have annual sales of around $10 billion. Saks already has a business relationship with both Amazon and Salesforce, which the deal will further strengthen.
Luxury behemoth LVMH Moët Hennessy Louis Vuitton, owner of Louis Vuitton and numerous other brands, achieved sales of approximately $94 billion last year.
Saks Fifth Avenue, Neiman Marcus, and Amazon did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The acquisition is a significant development in the luxury retail sector, which has been facing challenges due to changing consumer behavior and the rise of direct-to-consumer sales by fashion brands.
Both Saks and Neiman Marcus have been struggling in recent years, with Neiman Marcus even filing for bankruptcy in 2020. The deal is seen as a strategic move to strengthen the companies&#8217; positions in the face of these challenges.
This acquisition comes after Neiman Marcus <a href="https://www.benzinga.com/m-a/23/12/36061506/neiman-marcus-turns-down-saks-fifth-avenues-3-billion-takeover-bid">rejected a $3 billion takeover bid</a> from Saks in 2023. The two companies have been in negotiations for a potential merger for years, and this deal is a culmination of those efforts.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

AMZN

Saks Fifth Avenue's Parent Company To Buy Neiman Marcus For $2.65B, With Amazon's Help: Report

Amid <a href="https://www.benzinga.com/topic/joe-biden">rising speculation</a> and growing calls for President Joe Biden to step aside, Kentucky Governor <a href="https://www.benzinga.com/topic/andy-beshear">Andy Beshear</a> (D) addressed rumors about his own possible candidacy alongside VP <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c">Kamala Harris</a> for the Democratic presidential ticket.
Speaking to CNN, Beshear dismissed the likelihood of running as a vice-presidential candidate with Harris should she step into the fray and replace her boss. Though Beshear did say his fellow Democratic governors want to know how President Biden is doing.&nbsp;
In a Tuesday <a href="https://www.cnn.com/videos/politics/2024/07/03/kentucky-governor-andy-beshear-joe-biden-reaction-pamela-brown-full-intv-sitroom.cnn">interview</a> on CNN's "The Situation Room"&nbsp;with correspondent Pamela Brown, Beshear said seeking clarification about the president's health is not an attack on his candidacy, but something Americans would respond to positively.&nbsp;
"So, I don't think it's an attack on the White House or an attack on the president — who is a good man and a nice man — to just say, ‘Tell us a little bit more about how you're doing,'" Beshear told Kennedy.
See also:<a href="https://www.benzinga.com/markets/cannabis/24/06/39561566/will-bidens-shaky-debate-performance-affect-cannabis-reform-how-a-trump-return-could-reshape-mar"> Will Biden&#8217;s Shaky Debate Performance Affect Cannabis Reform? How A Trump Return Could Reshape Marijuana Policy</a>
In terms of VP Harris, Beshear expressed satisfaction with joint efforts between himself and the vice president on several initiatives, most notably the <a href="https://www.benzinga.com/topic/cannabis-legalization">decriminalization of marijuana</a>. This topic marked his initial policy-focused reaction amid discussions about potential changes to the Democratic ticket following a Biden's <a href="https://www.benzinga.com/markets/cannabis/24/06/39561566/will-bidens-shaky-debate-performance-affect-cannabis-reform-how-a-trump-return-could-reshape-mar">shaky performance</a> in last week's debate with Donald Trump.
President Biden is expected to meet Wednesday evening with a group of Democratic governors in a closed-door meeting at the White House. Beshear will be there.
<h2 class="wp-block-heading">Beshear And Kentucky's Cannabis Reform</h2>
Beshear signed a medical marijuana legalization bill in Kentucky and took executive measures to protect patients using medical cannabis from other states. Following Biden's <a href="https://www.benzinga.com/markets/cannabis/22/10/29175510/breaking-biden-announces-pardons-for-all-federal-marijuana-possession-convictions">first pardon related to cannabis in October 2022</a>, Beshear considered further state-level clemency initiatives and urged public petitions for such relief. He has also voiced support for enabling Kentucky farmers to grow and commercially sell recreational cannabis beyond state borders, advocating for broader economic and legal reforms in cannabis policy.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/22/10/29461754/what-are-the-best-psychedelic-assisted-therapy-clinics-in-the-world-here-are-5-to-check-out" target="_blank" rel="noreferrer noopener">Odds Of Kamala Harris Replacing Joe Biden As Democratic Presidential Candidate Raised By Crypto Bettors, Memecoin Themed On Her Surges 126%</a></li>
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Cannabis

Government

Politics

Gov. Andy Beshear Addresses Rumors About Possible VP Slot If Kamala Harris Replaces Her Boss As Nervous Dems Consider Shake Up

Best-selling author Robert Kiyosaki, warns of an impending market crash, followed by a long-term bull run for gold, silver, and Bitcoin.
What Happened: On Wednesday, Kiyosaki, author of the popular book &#8220;Rich Dad Poor Dad&#8221;, took to X to express his views on the future of the market. He predicted a historic crash in the prices of real estate, stocks, bonds, gold, silver, and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
However, he also forecasted a subsequent bull market cycle starting in late 2025, which he believes will be a boon for gold, silver, and Bitcoin investors. He said the &#8220;patience&#8221; of such investors will be rewarded.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BOOM GOiNG BUST: Technical charts indicate biggest crash in history coming. Prices of real estate, stocks, bonds, gold, silver, &amp; Bitcoin crash. GREAT NEWS: Good time to buy bargains will follow. Technical charts indicate major long term bull market cycle will…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1808628936538271972?ref_src=twsrc%5Etfw">July 3, 2024</a></blockquote>
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Kiyosaki stated, &#8220;They know this long cycle bull market is coming because they know faith and confidence in &#8216;FAKE&#8217; money is dissolving.&#8221; He also suggested potential future prices for gold, silver, and Bitcoin, predicting they could reach $15,000 an ounce, $110.00 an ounce, and $10 million per coin respectively.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39588530/shiba-inu-lead-developer-shytoshi-kusama-stirs-up-crypto-world-with-mysterious-post-ive-be?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Lead Developer Shytoshi Kusama Stirs Up Crypto World With Mysterious Post: &#8216;I&#8217;ve Been Shy And Quiet These Past Few Years… But It&#8217;s Time That Changes&#8217;</a>
Why It Matters: Kiyosaki has previously warned of a market crash, stating that such downturns present unique opportunities for wealth accumulation. He has been a vocal critic of the devaluation of fiat currencies and has consistently advocated for investments in gold, silver, and Bitcoin.
Previously, Kiyosaki <a href="https://www.benzinga.com/real-estate/24/05/38615141/bad-news-the-crash-has-begun-warns-rich-dad-poor-dad-author-robert-kiyosaki-but-good-news-crashes-ar">warned of the crash</a>, but also highlighted that crashes are the best time to get rich. He has also <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38605659/rich-dad-poor-dad-author-robert-kiyosaki-unveils-his-bitcoin-strategy-amid-market-crash-th">unveiled his Bitcoin strategy</a> amid market crashes, emphasizing the potential for wealth growth during such periods.
In 2023, Kiyosaki <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36171507/rich-dad-poor-dad-author-robert-kiyosaki-flashes-fresh-warning-about-401ks-and-iras">sounded a warning</a> regarding the equity market and has been a consistent backer of gold, silver, and Bitcoin. His latest post seems to be in line with his long-standing views on the market and investments.
Price Action: Bitcoin was seen trading 3.05% lower at $60,165.14 at the time of writing, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39581531/trump-winning-the-election-would-be-major-catalyst-for-crypto-to-surge-says-investment-exp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Winning The Election Would Be &#8216;Major Catalyst&#8217; For Crypto To Surge, Says Investment Expert</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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$BTC

'Rich Dad Poor Dad' Author Robert Kiyosaki Says Charts Indicate 'Biggest Crash In History Coming' — Followed By A Bitcoin Bull Run In Which King Crypto 'Easily' Touches $10M

Anthony Fauci, the former White House chief medical adviser, has expressed confidence in President Joe Biden&#8216;s mental acuity, amid growing concerns within the Democratic party about his ability to lead.
What Happened: In a recent interview, Fauci, who served as the head of the National Institute of Allergy and Infectious Diseases (NIAID) for almost four decades, vouched for Biden&#8217;s mental fitness, <a href="https://thehill.com/homenews/administration/4754808-fauci-no-doubt-biden-capable-as-president">reported</a> The Hill on Sunday. Fauci dismissed any medical conclusions drawn from a single event, such as a debate performance, and emphasized that he found Biden to be sharp and inquisitive in their interactions.
When asked if he saw anything &#8220;medically alarming&#8221; in Biden&#8217;s debate performance, Fauci declined to comment. He said, &#8220;I think it would be unfair and inappropriate to try and diagnose something from just a 90-minute clip."
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594060/trump-win-in-2024-would-lead-to-stronger-growth-and-higher-inflation-expert-predict?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Win In 2024 Would Lead To &#8216;Stronger Growth And Higher Inflation,&#8217; Expert Predicts Fed To Factor In Election Results In Rate Cut Plans</a>
These remarks come at a time when doubts have been raised about Biden&#8217;s ability to lead the Democratic party in the upcoming presidential election. Following a lackluster debate performance, Biden has reportedly been <a href="https://www.benzinga.com/general/politics/24/07/39620336/biden-contemplates-future-in-2024-race-after-poor-debate-showing-report">contemplating his future in the 2024 race</a>. The President <a href="https://www.benzinga.com/news/24/07/39610890/biden-blames-jet-lag-for-subpar-debate-performance-i-decided-to-travel-around-the-world-a-couple-tim">attributed his subpar debate performance</a> to jet lag from his recent overseas trips.
Why It Matters: Fauci&#8217;s endorsement of Biden&#8217;s mental fitness is significant in light of the ongoing debate about the President&#8217;s ability to lead the Democratic party. 
Earlier in June, Fauci <a href="https://www.benzinga.com/news/24/06/39443945/fauci-blames-trump-staff-for-misinformation-animosity-over-covid-19-response-didnt-seem-to-get-that">blamed Trump&#8217;s staff</a> for feeding him misinformation and fostering animosity during the COVID-19 pandemic. Meanwhile, Rep. Marjorie Taylor Greene (R-Ga.) accused him of committing "crimes against humanity" and <a href="https://www.benzinga.com/news/24/06/39348535/marjorie-taylor-greene-promises-to-lock-up-anthony-fauci-for-handling-of-pandemic-should-be-tried-fo">promised to put every effort</a> into prosecuting him.
Photo Courtesy: Wikimedia Commons
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/06/39566942/mark-cuban-asked-chatgpt-to-analyze-first-trump-biden-debate-and-judge-the-duos-communication-skills?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Asked ChatGPT To Analyze First Trump-Biden Debate And Judge The Duo&#8217;s Communication Skills, Professionalism — Here Is What The Bot Said</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Anthony Fauci Backs Biden's Mental Capability Amid Rising Uncertainty Over 2024 Run: Trying To 'Diagnose Something' from A 90-minute Clip Is Unfair

After a <a href="https://www.benzinga.com/general/politics/24/07/39620336/biden-contemplates-future-in-2024-race-after-poor-debate-showing-report">lackluster debate performance</a> by President Joe Biden, Vice President Kamala Harris has emerged as the leading alternative to replace him in the 2024 election, according to a Reuters report.
What Happened: A recent report by Reuters, citing seven senior sources within the Democratic party, the White House, and the Democratic National Committee, suggests that Harris is the top choice to replace Biden if he decides not to continue his reelection campaign.
The report highlights concerns within the Democratic party over Biden&#8217;s fitness for a second term following his widely criticized debate performance against Republican rival Donald Trump. This has prompted discussions about potential alternatives, with Harris emerging as the most likely candidate.
Despite some influential Democrats considering other alternatives, the sources believe that bypassing Harris would be nearly impossible. If named as the party nominee, Harris, 59, would inherit the funds and infrastructure of the Biden campaign.
Additionally, Harris has the highest name recognition and polling among the potential Democratic candidates. She has also been vetted for national office and has survived intense scrutiny from Republicans.
On a call with campaign staff, President Joe Biden reaffirmed his intention to remain in the 2024 presidential race, despite concerns over his debate performance. He stated, &#8220;I am running,&#8221; emphasizing his role as the Democratic Party leader, according to a separate Reuters report.
See Also: <a href="https://www.benzinga.com/news/24/06/39566537/bill-ackman-says-he-no-longer-blames-biden-for-not-stepping-aside-increasingly-clear-that-the-fault?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Ackman Says He No Longer Blames Biden For Not Stepping Aside: &#8216;Increasingly Clear That The Fault Lies With&#8230; Jill Biden&#8217;</a>
Why It Matters: The report comes in the wake of a lackluster debate performance by Biden, which has led to concerns about his ability to continue his candidacy for the 2024 election. A recent Ipsos poll also revealed that a majority of voters believe Biden should <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">withdraw from the race</a>, with less than half suggesting the same for Trump.
It was reported earlier that some Democrats are <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">encouraging Biden to step aside</a> and see former first lady Michelle Obama as the most viable candidate against Trump.
Photo courtesy: Shutterstock
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<li><a href="https://www.benzinga.com/news/24/07/39611028/nikki-haley-reminds-george-stephanopoulos-of-her-prophecy-that-joe-biden-isnt-going-to-finish-his-te?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nikki Haley Reminds George Stephanopoulos Of Her Prophecy That Joe Biden Isn&#8217;t Going To Finish His Term: &#8216;Believe Me Now&#8230;?&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Kamala Harris Reportedly Emerges As Top Choice To Replace The President In 2024 Election — Biden Says, 'I Am Running'

Germany has taken a huge step in cannabis regulation, legalizing <a href="https://www.benzinga.com/markets/cannabis/24/04/38116357/exclusive-german-cannabis-legalization-key-figures-say-celebrate-now-but-the-struggle-continues">cannabis clubs</a> as of July 1, 2024. Each club can have up to 500 members who can grow, share and enjoy cannabis together. Each member can receive up to 25 grams per day and 50 grams per month. But, as with many new policies, challenges abound, as Club enthusiast are still wading through red tape.
<h3 class="wp-block-heading">Legalizing German Cannabis Clubs</h3>
On April 1, 2024, <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a> began to allow the legal use of small amounts of cannabis. Adults over 18 can carry 25 grams, grow three plants and store up to 50 grams of dried cannabis at home. Despite these strides, the new cannabis clubs face a maze of regulations.
&#8220;The federal states are extremely ill-prepared for this,&#8221; Steffen Geyer <a href="https://www.dw.com/en/german-cannabis-clubs-face-jungle-of-bureaucracy/a-69546765">told</a> DW. Geyer is head of the German Cannabis Social Clubs&#8217; umbrella organization. He expects several hundred clubs to apply for licenses, but the bureaucratic process remains uncertain and undetermined. &#8220;There will certainly be a mid three-digit number of clubs applying for a license. How long this will take and how many of them will be successful is still impossible to predict.&#8221;
<h3 class="wp-block-heading">Opposition And Safety Concerns</h3>
The German Police Union says it is concerned about potential misuse of the cannabis clubs. &#8220;We fear that criminals from the organized crime sector will use the possibility of growing clubs to expand criminal structures,&#8221; said Alexander Poitz, deputy head of the police union.
When it comes to the political landscape, the <a href="https://www.benzinga.com/markets/cannabis/24/06/39278732/far-right-victory-in-germany-cannabis-policy-tiktok-voters-and-impact-of-afds-rise-to-power">Christian Social Union (CSU) </a>which opposed legalization, has already made a public commitment to role back the regulation should they became the predominant party in government. CSU governs Bavaria, where they are meant to mount the structure that facilitates and controls Cannabis Clubs. They have said they plan to rigorously inspect every cultivation associations, to make it as hard as possible for applicants to get and preserve their licenses.
&#8220;In our view, the legalization of cannabis is a major mistake in terms of safety and health policy,&#8221; said Bavarian Interior Minister Joachim Herrmann.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39582406/what-are-germans-rolling-in-their-joints-this-denver-cannabis-company-found-out-at-berlins-mary-">What Are Germans Rolling In Their Joints? This Denver Cannabis Company Found Out At Berlin&#8217;s Mary Jane Trade Fair</a>
<h3 class="wp-block-heading">Ensuring Effective Cannabis Regulations</h3>
Geyer argues that clear and transparent regulations can prevent criminal groups from infiltrating the clubs among other specters raised by anti cannabis activists. &#8220;We have followed the examples of Canada, the US, Uruguay, Liechtenstein, Malta, the Netherlands, and Spain. We have a lot of regulations designed to prevent a mix of black and white market,&#8221; he said.
No surprise, cannabis regulation is highly sensitive to political change. With the <a href="https://www.benzinga.com/markets/cannabis/24/06/39278732/far-right-victory-in-germany-cannabis-policy-tiktok-voters-and-impact-of-afds-rise-to-power">far right </a>aiming to win the 2025 elections, it is crucial to implement efficient, clear and realistic regulations. This will help the <a href="https://www.benzinga.com/markets/cannabis/24/03/37423469/experts-agree-on-domino-effect-of-german-cannabis-legalization-alert-companies-about-rigorous-qu">industry</a>, consolidate the rights of users, prove wrong many the beliefs of anti cannabis advocates thus making it to reverse progress in the future.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/06/39255091/barcelonas-high-society-inside-the-hidden-world-of-spains-cannabis-clubs">Barcelona&#8217;s High Society: Inside The Hidden World Of Spain&#8217;s Cannabis Clubs</a></li>
</ul>
Cannabis is spreading throughout the globe. If you want to dive into industry changes and opportunities at the international level, then you might be interested in joining us the 19th Benzinga Cannabis Capital Conference in 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 go up 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>.<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a><a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

Cannabis Clubs In Germany Still Waiting For Red Tape To Be Set In Place

A lawsuit filed in Minnesota in May in Ramsey County District Court challenged the state's restriction on unlicensed cannabis sales by home growers, citing a 120-year-old constitutional provision.
The legal action targets the state Office of Cannabis Management (OCM)'s interim director Charlene Briner and state Attorney General Keith Ellison.
Now, AG Ellison is asking a judge to dismiss the motion brought by four cannabis growers, targeting the state Office of Cannabis Management (OCM) and arguing that home cultivators should be allowed to sell their excess cannabis without a state license.
Why?
"Plaintiffs fail to state a claim because cannabis is not a ‘product of the farm or garden,' the Minnesota Constitution does not create a right to purchase farm products, and state law does not authorize criminal penalties for unlicensed sales," the <a href="https://www.minnpost.com/wp-content/uploads/2023/12/MCRO_62-CV-24-2952_Complaint-Civil_2024-05-07_20240509090830.pdf">dismissal request stipulates.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/39065009/cannabis-cultivation-could-begin-this-year-as-minnesota-governor-signs-numerous-changes-to-curre">Cannabis Cultivation Could Begin This Year As Minnesota Governor Signs Numerous Changes To Current Law</a>
A hearing on the motion to dismiss is scheduled for July 22. As <a href="https://www.minnpost.com/state-government/2024/07/state-attorney-general-asks-judge-to-dismiss-lawsuit-brought-by-cannabis-home-growers/">highlighted</a> by MinnPost's Peter Callaghan, the case could easily reach the state Supreme Court.
Section 7, Article XIII of the Minnesota Constitution dates back to 1906. The provision sought to protect farmers' rights to sell their produce without a permit. The plaintiffs proposed that the provision could be referring to cannabis as well.
Governor Tim Walz (D), who backed the marijuana policy reform – strongly opposes this view. He earlier said that this wasn&#8217;t something he and lawmakers had in mind&nbsp;when enacting&nbsp;marijuana policy reform.
&#8220;Look, I think on the cannabis piece of this, just like every other piece of legislation, certainly around things like alcohol, these are ever-evolving,&#8221; he <a href="https://www.benzinga.com/markets/cannabis/23/08/34029966/governor-walz-opposes-people-selling-their-home-grown-weed-interstate-cannabis-commerce-and-sale">said</a>. &#8220;And I&#8217;ve said that I think there&#8217;s a strong need—we&#8217;ll come back. We&#8217;ll revisit these things year after year, probably for decades to come. But that was never our intention to do that.&#8221;
As <a href="https://www.benzinga.com/markets/cannabis/23/08/33492546/cannabis-sales-launch-on-tribal-land-in-minnesota-as-rest-of-state-works-out-red-tape-for-legal-" target="_blank" rel="noreferrer noopener">of August 1, 2023</a>, it is <a href="https://www.benzinga.com/markets/cannabis/23/08/33492546/cannabis-sales-launch-on-tribal-land-in-minnesota-as-rest-of-state-works-out-red-tape-for-legal-" target="_blank" rel="noreferrer noopener">legal to grow and possess cannabis in Minnesota</a>. 
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>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/05/39065009/cannabis-cultivation-could-begin-this-year-as-minnesota-governor-signs-numerous-changes-to-curre">Cannabis Retail In Minnesota: House Passes Bill To Accelerate Marketplace, Aiming For Early Rollout</a></li>
</ul>

Regulations

Legal

Minnesota AG Ellison Asks Judge To Dismiss Lawsuit By Cannabis Home Growers Who Want To Sell Their Excess Marijuana Without A License

Welltower (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>) has outperformed the market over the past 20 years by 1.58% on an annualized basis producing an average annual return of 9.89%. Currently, Welltower has a market capitalization of $62.99 billion. 
Buying $100 In WELL: If an investor had bought $100 of WELL stock 20 years ago, it would be worth $650.71 today based on a price of $105.35 for WELL at the time of writing.
<h3>Welltower's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720042242_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

WELL

Here's How Much You Would Have Made Owning Welltower Stock In The Last 20 Years

Gartner (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) has outperformed the market over the past 15 years by 12.7% on an annualized basis producing an average annual return of 25.7%. Currently, Gartner has a market capitalization of $34.76 billion. 
Buying $100 In IT: If an investor had bought $100 of IT stock 15 years ago, it would be worth $3,056.31 today based on a price of $447.75 for IT at the time of writing.
<h3>Gartner's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720042237_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.

$100 Invested In Gartner 15 Years Ago Would Be Worth This Much Today

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 10 years by 10.88% on an annualized basis producing an average annual return of 21.77%. Currently, First Citizens BancShares has a market capitalization of $24.93 billion. 
Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 10 years ago, it would be worth $7,150.12 today based on a price of $1716.10 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720040416_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.

FCNCA

$1000 Invested In This Stock 10 Years Ago Would Be Worth $7,200 Today

Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) has outperformed the market over the past 5 years by 4.47% on an annualized basis producing an average annual return of 17.63%. Currently, Goldman Sachs Gr has a market capitalization of $150.89 billion. 
Buying $1000 In GS: If an investor had bought $1000 of GS stock 5 years ago, it would be worth $2,274.22 today based on a price of $467.92 for GS at the time of writing.
<h3>Goldman Sachs Gr's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720040411_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.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $2,300 Today

PHIO

Trading Halt: Halted at 4:50:00 p.m. ET - Trading Halt: Halt News Pending

Baijiayun Group's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NYSE">RTC</a>) short percent of float has fallen 75.81% since its last report. The company recently reported that it has 15 thousand shares sold short, which is 0.3% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Baijiayun Group Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720039521_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Baijiayun Group has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Baijiayun Group's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Baijiayun Group's peer group average for short interest as a percentage of float is 3.46%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(RTC) - Analyzing Baijiayun Group's Short Interest

Bank of New York Mellon's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) short percent of float has fallen 12.0% since its last report. The company recently reported that it has 8.21 million shares sold short, which is 1.1% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.75 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Bank of New York Mellon Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720039516_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Bank of New York Mellon has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Bank of New York Mellon's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Bank of New York Mellon's peer group average for short interest as a percentage of float is 2.95%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Bank of New York Mellon's Recent Short Interest

TopBuild's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>) short percent of float has risen 7.18% since its last report. The company recently reported that it has 662 thousand shares sold short, which is 2.09% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.28 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>TopBuild Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720039510_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for TopBuild has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing TopBuild's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, TopBuild's peer group average for short interest as a percentage of float is 5.51%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into TopBuild's Recent Short Interest

Chaos could be coming in the 2024 presidential election, with increased calls for President Joe Biden to step aside and make way for<a href="http://US Allies Urge Biden To Step Down After Disastrous Debate Performance: 'Important To Manage One's Ride Into The Sunset'"> a new candidate.</a>
While picking a replacement could be a tough decision and be based on who has the best shot of defeating Donald Trump, the item of fundraising may also come into play.
What Happened: Vice President Kamala Harris is among <a href="http://Kamala Harris Defends Biden's 'Slow Start' At Debate With 'Strong Finish': Clinton, Newsom, Obama Race To Support President">the leading candidates </a>who would be selected to replace Biden if he were to step down from the 2024 presidential race.
Harris could be one of the easiest replacements since she has name familiarity, has been serving under Biden for years and has polled well in head-to-head matchups against Trump.
Another reason to replace Biden with Harris would be to make the moving of campaign donations easier.
Harris would inherit $240 million in fundraising money if Biden drops out, according to a <a href="https://nypost.com/2024/07/02/us-news/kamala-harris-to-inherit-240m-dem-funds-if-biden-drops-out/">report </a>from the New York Post. Much of the money raised is non-transferable and belongs to the Biden-Harris campaign according to the report.
"Biden has two real choices: Kamala inherits; or they transfer it all to the DNC," Signum Global partner Rob Casey told The Post. "That money would all be accessed by Kamala … anyone else would be on their own for fundraising."
This means that other potential replacement names who have been mentioned like California Gov. Gavin Newsom, Michigan Gov. Gretchen Whitmer and former First Lady Michelle Obama would have another obstacle to overcome in the presidential race.
Harris and Biden are both named in federal paperwork for the campaign that has received a growing amount of donations as the election enters the home stretch.
The money could also be reimbursed to donors.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam">2024 Election Betting Odds React To Biden Debate Disaster: Trump Odds Hit All-Time High, Kamala Harris Soars</a>
Why It's Important: With around four months before the 2024 presidential election, the move to replace Biden would be unprecedented and come with huge obstacles.
Trump has been the odds-on favorite for sportsbooks and prediction markets for months while his placement in election polls has also shown gains on Biden since the first presidential debate.
Choosing someone other than Harris to replace Biden could come with the hurdle of trying to raise money to defeat Trump in the election. The new candidate would be able to draw money from political action committees and likely some from the Democratic National Committee. Questions over how much money would be available and how easy it would be to access it are likely troublesome in the event a new replacement is picked.
Biden's campaign raised $127 million in June, which marked the best month for the president's 2024 re-election effort.
The president's campaign is spending around $50 million monthly on presidential ads ahead of the election.
Read Next: 
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<li><a href="https://www.benzinga.com/news/23/10/35505524/kamala-harris-says-democracy-on-the-line-for-2024-election-confident-in-biden-for-presidency-we-will">Kamala Harris Says &#8216;Democracy On The Line&#8217; For 2024 Election, Confident In Biden For Presidency: &#8216;We Will Win&#8217;</a></li>
</ul>

Photo: <a href="https://www.shutterstock.com/g/joaquincorbalan">Joaquin Corbalan P</a> via Shutterstock