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The Fund will normally invest at least 80% of its total assets in securities of the Index. Because the Index is comprised of securities issued by other investment companies (as opposed to operating companies), the Fund operates in a manner that is commonly referred to as a fund of funds, meaning that it invests its assets in shares of funds that are included in the Index. The Index seeks to measure the performance of the top 45 U.S. exchange-listed closed-end funds (the Underlying Funds), as selected and ranked according to factors employed by the Index methodology that are designed to result in a portfolio that produces high current income (the Methodology).

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CHINA YANYUAN YUHUI NATL by CHINA YANYUAN YUHUI NATL ED GROUP INC.

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Reported Earlier, Japan Industrial Production (MoM) Preliminary For October 3.0% Vs. 3.8% Est.; 1.6% Prior

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World Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>) emerged as one of the biggest cryptocurrency market gainers Thursday after the identity verification project unveiled a pilot feature that would allow users to claim additional tokens.
What happened: WLD, the native cryptocurrency of the newly-branded network, previously called Worldcoin, spiked over 13% to become the second-best-performing cryptocurrency in the last 24 hours.
The coin's trading volume jumped 145% to around $1.35 billion, boosting the volume-to-market cap ratio to 67%.
The surge in buying pressure came following the launch of a new feature, called "World ID Credentials," aimed at making the network more accessible.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The new World ID Passport Credential is here, with access to additional WLD tokens.<a href="https://t.co/aD8utAGAQs">https://t.co/aD8utAGAQs</a>
&mdash; World (@worldcoin) <a href="https://twitter.com/worldcoin/status/1862276636143436167?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42228464/ethereum-rally-gets-overshadowed-by-searing-gains-in-cheaper-plays-why-are-ens-and-etc-soaring-today">Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?</a>
"The new feature can be added to a person's World ID whether or not they have verified their humanness at an Orb," World Network announced.&nbsp;
Furthermore, using Credentials, World ID holders may claim additional WLD tokens, regardless of whether their World ID was validated at an Orb location.
The project would be rolled out in select countries including Chile, Colombia, Malaysia and South Korea
Why It Matters: Sam Altman, co-founder of OpenAI, launched the Worldcoin project last year amid significant media attention.
The project collects people&#8217;s irises to authenticate their humanness and creates a digital ID, thereby making them eligible to receive free WLD tokens.
However, the initiative has encountered challenges related to personal data protection. The project has been prohibited in <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">Hong Kong</a>, Kenya, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Spain</a>.&nbsp;
Price Action: At the time of writing, Worldcoin was trading at $2.86, up 13.51% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image by CryptoFX on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor&#8217;s MicroStrategy</a></li>
</ul>

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

Cryptocurrency

Movers

$WLD

Sam Altman-Founded World Network Coin Soars 13% On Launch Of New Pilot Project 'World ID Credentials'

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google is facing an antitrust lawsuit in Canada.
What Happened: As per a statement issued on Thursday, Canada&#8217;s Competition Bureau is taking legal action against Google for alleged anti-competitive behavior in online advertising.
The Bureau has lodged an application with the Competition Tribunal, seeking an order that mandates Google to sell two of its ad tech tools.
See Also: <a href="https://www.benzinga.com/24/11/42156596/netflix-co-founder-marc-randolph-reveals-why-true-wealth-isnt-about-lamborghinis-or-1000-wines-but-the-freedom-to-choose-meaningful-living?itm_source=parsely-api">Netflix Co-Founder Marc Randolph Reveals Why True Wealth Isn&#8217;t About Lamborghinis Or $1,000 Wines But The Freedom To Live Meaningfully</a>
It is also seeking a penalty to encourage compliance with Canada&#8217;s competition laws.
In response to the complaint, Google told Reuters that it &#8220;ignores the intense competition where ad buyers and sellers have plenty of choice.&#8221;
Why It Matters: This lawsuit comes on the heels of a <a href="https://www.benzinga.com/24/11/42167449/google-doj-set-to-present-closing-arguments-in-adtech-trial">similar case in the U.S.</a>, where the Justice Department tried to prove Google&#8217;s monopolization of markets for publisher ad servers and advertiser ad networks.
Google has defended its business decisions and argued that the online advertising market is robust and competitive.
Earlier in the month, the <a href="https://www.benzinga.com/government/regulations/24/11/42143421/staggering-google-breakup-proposal-from-doj-a-kitchen-sink-moment-alphabet-analyst">U.S. Department of Justice</a> also proposed a breakup of Google to curb its search engine dominance.
Google described the proposed remedies as "staggering" and analysts referred to the sweeping remedies as a &#8220;kitchen sink moment.&#8221;
Price Action: On Wednesday, Alphabet&#8217;s Class A shares ended the regular session 0.06% higher at $169.23 and the company&#8217;s Class C shares rose 0.1% higher at $170.82, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42208148/russian-hackers-launch-widespread-cyber-assault-using-firefox-and-windows-zero-days-what-you-need-to-know-about-the-romcom-exploit?itm_source=parsely-api">Russian Hackers Launch Widespread Cyber Assault Using Firefox And Windows Zero-Days: What You Need To Know About The RomCom Exploit</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

Tech

GOOG

GOOGL

Google Hit With Groundbreaking Antitrust Lawsuit In Canada Over Ad Tech Tools

A trader won a fortune betting on a cryptocurrency inspired by a viral internet meme, which is now worth more than $500 million in market capitalization.
What Happened:&nbsp;On-chain tracking platform&nbsp;Lookonchain&nbsp;took to X Wednesday, highlighting the extraordinary trade of Just a chill guy (CHILLGUY) token.
The trader turned a mere $160 into a staggering $6.14 million in just 12 days, marking a 38,399X return on investment.
The trader purchased 12.5 million CHILLGUY tokens on Pump.fun, a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin launching pad, for 0.75 SOL, equivalent to $160. Subsequently, they sold 2.8 million CHILLGUY for 149 SOL, worth $35,400.
The trader still has 9.62 million tokens in their coffers, valued at $6.1 million, resulting in a total profit of $6.14 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Turned $160 into $6.14M, ​​a 38,399x return! 12 days ago, this trader spent only 0.75 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($160) to buy 12.5M $CHILLGUY on <a href="https://t.co/DrKlYnPPqY">https://t.co/DrKlYnPPqY</a>, and then sold 2.8M $CHILLGUY for 149 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($35.4K). <a href="https://twitter.com/hashtag/CHILLGUY?src=hash&amp;ref_src=twsrc%5Etfw">#CHILLGUY</a> The trader still holds 9.62M $CHILLGUY($6.1M), with a total profit of… <a href="https://t.co/a5tPaB3KpT">pic.twitter.com/a5tPaB3KpT</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1861689820671811947?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42237876/peter-schiff-predicts-microstrategys-bankruptcy-due-to-bitcoin-investment-strategy">Peter Schiff Calls MicroStrategy A &#8216;Great Short&#8217; And Issues A Grim Warning: &#8216;It Can Only End In Bankruptcy&#8217;</a>
The huge windfall planted doubts in the minds of some observers, who called the trader an insider. Since their sale, the price of the token has plummeted as much as 21%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">he is an insider
&mdash; Crypto Spotter (@CryptoSpotter05) <a href="https://twitter.com/CryptoSpotter05/status/1861698096448807396?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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Schemes like pump-and-dumps have been fairly common in the cryptocurrency market, where a person or group starts to artificially inflate the price. Once unsuspecting investors are lured in and the price is sufficiently "pumped," the holders start dumping their assets at profits.
That said, there was nothing concrete to suggest that the same transpired in the aforementioned case. 
The meme coin, based on the &#8220;Chill Guy&#8221; meme, featuring a dog in a sweater and jeans with a smirk, has quickly grown into a half-billion-dollar market capitalization asset. 
Over the last week, the token has jumped over 46% as cryptocurrency traders continue to turn internet memes and trends into money-making possibilities.
The token has a circulating supply of 999.7 million, while its volume-to-market cap ratio stood at 31.08% as of this writing.
Price Action: At the time of writing, CHILLGUY was exchanging hands at $0.5186, down 5.09% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/just-a-chill-guy/">according </a>to CoinMarketCap. Its trading volume plunged by 47% to $156 million in the last 24 hours. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42235119/ethereum-outperformed-bitcoin-this-week-as-key-indicators-shift-report">Ethereum Outperformed Bitcoin This Week As Key Indicators Shift: Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$SOL

Trader Turns $160 Into $6M In Just 12 Days With 'Chill Guy' Meme Coin But Insider Trader Concerns Arise

U.S. regulators approved the nation&#8217;s first 24-hour stock exchange on Wednesday, marking a significant shift in American securities trading as retail investors increasingly demand round-the-clock market access.
What Happened: The Securities and Exchange Commission granted approval to 24 Exchange, backed by Steve Cohen&#8216;s Point72 Ventures, following the startup&#8217;s second application attempt. 
The approval comes amid growing momentum for extended trading hours, with Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) recently announcing plans to <a href="https://www.benzinga.com/fintech/24/10/41627496/schwab-expands-24-hour-trading-to-include-all-stocks-in-s-p-500-nasdaq-100-hundreds-of-etfs">expand 24-hour trading access</a> to all S&amp;P 500 and Nasdaq-100 stocks by 2025.
The exchange will launch in two phases, beginning with regular trading hours before expanding to overnight sessions between Sunday and Friday. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing. 
This development follows Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) offering 24-hour trading of more than 1,000 tickers and NYSE parent Intercontinental Exchange Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) filing to extend NYSE Arca trading to 22 hours daily.
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>
Why It Matters: &#8220;Traders are most at-risk when the market is closed in their geographic location,&#8221; said Dmitri Galinov, CEO and founder of 24X. &#8220;We will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading.&#8221;
The approval represents a significant evolution from traditional stock trading hours, bringing equity markets closer to the continuous trading seen in cryptocurrencies and foreign exchange markets. 
The move comes after 24 Exchange&#8217;s strategic pivot from cryptocurrency trading in 2023 when it discontinued its spot crypto product amid regulatory pressures and declining interest <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32981451/steve-cohen-backed-24-exchange-pulls-the-plug-on-spot-crypto-trading-as-regulatory-pressur">following the FTX collapse</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42237909/joby-aviations-electric-air-taxi-takes-flight-in-microsoft-simulator-after-analyst-sees-3b-revenue-opportunity">Joby&#8217;s Electric Air Taxi Lands In Microsoft Flight Simulator 2024, Here&#8217;s How You Can Fly It</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Equities

HOOD

SCHW

SEC Approves America's First 24-Hour Stock Exchange — What It Means For You

Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) has integrated its electric air taxi into Microsoft Flight Simulator 2024, allowing aviation enthusiasts worldwide to experience the future of urban air mobility. 
What Happened: The company&#8217;s aircraft, capable of speeds up to 200 mph with zero operating emissions, is now available in the latest edition of the popular simulation game.
JoeBen Bevirt, Joby&#8217;s Founder and CEO, emphasized the significance of making their aircraft accessible to a broader audience: &#8220;We&#8217;re incredibly excited to share our revolutionary aircraft with aviation enthusiasts of all ages and backgrounds, giving everyone an opportunity to experience the intuitive and effortless controls we have designed.&#8221;
The aircraft&#8217;s implementation in the simulator is the result of extensive collaboration with Microsoft to accurately replicate its dimensions, flight physics, and unique &#8220;unified flight controls&#8221; system, similar to those used in the F-35B Joint Strike Fighter.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Joby electric air taxi is available to fly in Microsoft Flight Simulator 2024, so we put together an overview of how to fly the aircraft using one of our planned service routes as an example: JFK Airport to Downtown Manhattan (JRB). In this video, Joby software engineer and… <a href="https://t.co/ic9l642P2o">pic.twitter.com/ic9l642P2o</a>
&mdash; Joby Aviation (@jobyaviation) <a href="https://twitter.com/jobyaviation/status/1861811572793893097?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/11/42237670/meta-tiktok-snapchat-could-face-32m-fines-as-australia-enforces-social-media-ban-for-under-16s-while-exempting-youtube">Meta, TikTok, Snapchat Could Face $32M Fines As Australia Enforces Social Media Ban For Under-16s</a>
Why It Matters: This development comes as Needham analyst Chris Pierce initiated coverage on Joby with a Buy rating and an $8 price target. 
Pierce highlights the company&#8217;s strong market position, bolstered by its 2020 acquisition of Uber Elevate and the development of its ElevateOS platform. The analyst projects a $3 billion early-stage global air taxi revenue opportunity, with operations expected to begin in the UAE by 2025 and <a href="https://www.benzinga.com/24/11/42079908/nvidia-microstrategy-apollo-global-management-joby-aviation-and-tesla-why-these-5-stocks-are-on-investors-radars-today">U.S. regulatory approval anticipated for 2026</a>.
Joby&#8217;s strategy includes partnering with CAE to develop advanced flight simulation training devices for pilot certification. The company&#8217;s vertically integrated approach to manufacturing is expected to reduce aircraft costs and strengthen its competitive position in the <a href="https://www.benzinga.com/24/11/42071065/analyst-says-faa-support-uber-partnership-push-joby-aviation-toward-air-taxi-leadership">emerging air taxi market</a>.
The aircraft, designed to transport four passengers and a pilot, represents an advancement in urban air mobility, offering reduced noise compared to traditional helicopters while maintaining high-speed transportation capabilities. 
Investors can gain exposure to Joby through ETFs including WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/WBAT#BATS">WBAT</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>).
Price Action: Joby Aviation stock closed at $8.00 on Wednesday, up 1.27% for the day. In after-hours trading, the stock rose an additional 0.50%. Year to date, Joby Aviation&#8217;s stock has surged 29.45%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a></li>
</ul>
Image via Joby Aviation
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Global

ARKX

JOBY

WBAT

Joby's Electric Air Taxi Lands In Microsoft Flight Simulator 2024, Here's How You Can Fly It

Big tech CEOs of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) have shared messages of gratitude with their followers as they celebrated Thanksgiving 2024.
What Happened: On Thursday, Apple CEO Tim Cook took to X, formerly Twitter, and expressed his thanks while highlighting the importance of health, prosperity, and the possibilities ahead.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thanksgiving is about giving thanks for each other with the hope for health and prosperity. This year I&#39;m giving thanks for the many possibilities ahead and the people in my life—including our team at Apple, our users, and all those dedicated to making the world a better place.
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1862104161384575450?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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Last month, Apple announced <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fiscal fourth-quarter revenue </a>of $94.9 billion, surpassing analyst expectations of $94.56 billion. This marked the seventh consecutive quarter that Apple has exceeded analyst estimates for both revenue and earnings, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
See Also: <a href="https://www.benzinga.com/tech/24/11/42233241/jensen-huang-says-he-doesnt-love-every-day-of-his-job-heres-how-the-nvidia-boss-created-a-company-worth-over-3-trillion-today">Jensen Huang Says He Doesn&#8217;t &#8216;Love&#8217; Every Day Of His Job. Here&#8217;s How The Nvidia Boss Created A Company Worth Over $3 Trillion Today</a>
Alphabet CEO Sundar Pichai shared a simple yet heartfelt message, appreciating his family, friends, users, and colleagues worldwide.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Happy Thanksgiving! Grateful to spend time with family and friends, and for our users, partners, and Googlers around the world:)
&mdash; Sundar Pichai (@sundarpichai) <a href="https://twitter.com/sundarpichai/status/1862236073382093065?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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In October, Alphabet also posted its <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">third-quarter revenue</a> of $88.27 billion, reflecting a 15% increase compared to the previous year. The results exceeded the consensus estimate of $86.31 billion from analysts.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Tesla and SpaceX CEO, who also owns X and xAI, Elon Musk, offered a brief but warm Thanksgiving greeting.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1fa;&#x1f1f8;&#x1f1fa;&#x1f1f8; Happy Thanksgiving! &#x1f1fa;&#x1f1f8;&#x1f1fa;&#x1f1f8;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1862143540912132102?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Musk's Tesla reported <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">third-quarter revenue</a> of $25.18 billion, marking an 8% year-over-year increase. However, the figure fell short of the Street consensus estimate of $25.37 billion.
Meanwhile, AMD CEO Lisa Su posted an image with a turkey and thanked her extended AMD family, friends, and fans.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wishing everyone a very Happy Thanksgiving!!! I'm very thankful to our amazing <a href="https://twitter.com/AMD?ref_src=twsrc%5Etfw">@AMD</a> extended family, friends, and fans. Looking forward to all we will do together. &#x2764;&#xFE0F; <a href="https://t.co/eo7LWnz90Z">pic.twitter.com/eo7LWnz90Z</a>
&mdash; Lisa Su (@LisaSu) <a href="https://twitter.com/LisaSu/status/1862256282129859049?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
AMD posted <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">third-quarter revenue</a> of $6.8 billion, surpassing analyst expectations of $6.71 billion.
Photo Courtesy: Claudio Schwarz on Unsplash
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

TSLA

What Do Tim Cook, Sundar Pichai, Elon Musk, And Lisa Su Have In Common This Thanksgiving? Heartwarming Gratitude, Unexpected Humor, And A Turkey Or Two

Influential economist and market strategist&nbsp;Peter Schiff&nbsp;said shorting MicroStrategy Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock was a good idea, as he predicted potential bankruptcy for the company.
What Happened: During an interview with Kitco News that aired Thursday, Schiff called MicroStrategy a &#8220;great short&#8221; if one&#8217;s got the staying power, though he denied himself taking such a position.
&#8220;If&nbsp;you understand the dynamics of&nbsp;how this works, I mean&nbsp;you see that it can&nbsp;only end in the bankruptcy&nbsp;of MicroStrategy,&#8221; the Bitcoin critic made a bold prediction.
Making his argument, Schiff said that the company&#8217;s commitment to repay a large sum of money to c<a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">onvertible note holders</a> could be a potential risk&nbsp;if the price of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the asset it holds on its books,&nbsp;drops.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Bitcoin Strategic Reserve: Selling Gold for Bitcoin Is ‘Worst Monetary Mistake' US Can Make &#x7C; Schiff" width="500" height="281" src="https://www.youtube.com/embed/QRfn1h_3VYU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42235015/chris-burniske-dismisses-supercycle-narrative-a-collective-delusion">Bitcoin &#8216;Supercycle&#8217; Narrative Is A &#8216;Collective Delusion,&#8217; Influential Crypto Venture Capitalist Says</a>
He stated that the bondholders are under the &#8220;false belief&#8221; that they have exposure to Bitcoin with no downside risk and would simply receive their money back in the worst-case situation of bankruptcy.
&#8220;Well, the problem is MicroStrategy is promising to&nbsp;pay so many&nbsp;people back so much money&nbsp;that it won&#8217;t&nbsp;be able to do it&nbsp;if the price of Bitcoin&nbsp;goes down because it doesn&#8217;t&nbsp;have the money because it&nbsp;wasted it on Bitcoin,&#8221; Schiff said. 
He predicted that the only way to repay the debt would be by selling Bitcoin.
&#8220;But as the biggest buyer and biggest owner, if it becomes the biggest seller, what happens to the price of Bitcoin? It crashes. So I think the only way this is going to end is in bankruptcy,&#8221; Schiff emphasized.
Why It Matters: Schiff&#8217;s remarks come in the wake of recent concerns raised about&nbsp;MicroStrategy and its Bitcoin investment strategy. 
Cryptocurrency analyst Willy Woo had previously flagged the potential liquidation risk of MicroStrategy due to its convertible debt offerings. He said that if the buyers of the convertible debt do not convert to shares before maturity, <a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">MicroStrategy would be forced to sell Bitcoin</a> to repay the debt holders.
Additionally, investment adviser Gary Black questioned MicroStrategy&#8217;s valuation, suggesting that the company&#8217;s stock was <a href="https://www.benzinga.com/24/11/42156261/are-microstrategys-shares-worth-only-105-investment-adviser-gary-black-weighs-in">significantly overpriced</a>.&nbsp;
MicroStrategy's aggressive Bitcoin acquisition strategy has been the subject of intense media coverage in recent weeks. Last week, it outshone major companies on Wall Street <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42102652/michael-saylors-microstrategy-takes-wall-street-by-storm-becomes-second-most-traded-stock-after-nvidia">to emerge as the second-most traded stock</a> on a trading day.
Price Action: Since the beginning of November, MicroStrategy's stock has surged 69%. The company&#8217;s shares closed 9.94% higher at $388.84 on Wednesday.
Photo Courtesy: Wikimedia Commons
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42234954/will-apple-or-nvidia-be-the-worlds-most-valuable-company-by-the-end-of-2024-polymarket-traders-have-a-clear-favorite">Will Apple Or NVIDIA Be The World&#8217;s Most Valuable Company By The End Of 2024? Polymarket Traders Have A Clear Favorite</a></li>
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$BTC

MSTR

Peter Schiff Calls MicroStrategy A 'Great Short' And Issues A Grim Warning: 'It Can Only End In Bankruptcy'

Australia has passed a <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">law banning social media</a> access for children under 16, enforcing strict penalties on Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), ByteDance-owned TikTok, and Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>).
What Happened: The <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">Social Media Minimum Age Bill</a>, approved on Thursday, prohibits minors under 16 from accessing platforms such as X, formerly Twitter, Instagram, Facebook, TikTok, and Snapchat.
Violations could result in fines of up to $32 million (AUD 49.5 million), reported Reuters.
YouTube, a subsidiary of Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, has been exempted from this ban as it is widely used in schools.
See Also: <a href="https://www.benzinga.com/news/earnings/24/11/42201885/dell-technologies-shares-drop-after-q3-revenue-misses-estimates-details?itm_source=parsely-api">Dell Technologies Shares Drop After Q3 Revenue Misses Estimates: Details</a>
In their statements to the report, spokespersons for Meta and Snap expressed concerns about the legislation.
They also promised to comply with the laws while engaging closely with the government during the 12-month implementation period.&nbsp;
Snapchat, Google, Met, and TikTok did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
The law will undergo a trial implementation phase starting January 2025, with full enforcement expected in 2026.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The legislation has sparked a national debate. Some proponents cite the need to combat the <a href="https://www.benzinga.com/government/24/05/38751844/australia-calls-for-inquiry-into-metas-facebook-elon-musks-x-tiktok-to-make-these-platforms-accounta">negative mental health impacts</a> of social media on young people.
Critics, however, argue it may infringe on young users&#8217; rights, privacy, and access to online support networks.
The ban also follows a series of events that began with Australia&#8217;s Prime Minister Anthony Albanese&#8217;s feud with tech leaders like Elon Musk and Mark Zuckerberg.
Earlier in June, Musk's X prevailed in a <a href="https://www.benzinga.com/news/24/06/39184541/elon-musk-says-freedom-of-speech-is-worth-fighting-for-after-australia-drops-legal-battle-against-x">legal dispute with the Australian government</a> over its attempt to have footage of a church stabbing in Sydney removed.
During the same month, Meta also warned that it could restrict news content in Australia if <a href="https://www.benzinga.com/markets/equities/24/06/39542628/mark-zuckerbergs-meta-warns-it-may-block-news-content-in-australia-if-asked-to-pay-licensing-fee">required to pay licensing fees</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

Politics

Media

SNAP

Meta, TikTok, Snapchat Could Face $32M Fines As Australia Enforces Social Media Ban For Under-16s

Leading cryptocurrencies powered down for Thanksgiving as signs of an incoming alt season emerged.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:00 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.03%</td>
<td>$95,544.73</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.38%</td>
<td>$3,562.08</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.50%</td>
<td>$0.4002</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin oscillated within the $95,000 zone for the greater part of the day. Trading volume for the apex cryptocurrency plunged by as much as 28%.
Ethereum made a quick surge to $3,640, only to reverse course to the $3,500 range.
Bitcoin and Ethereum dominance dipped over the last 24 hours, while the market share of the rest of the altcoins rose.
Total cryptocurrency liquidations exceeded $204 million in the last 24 hours, with more than $129 million in bullish leveraged positions getting wiped out.
About $627 million in long positions risked getting liquidated if Bitcoin retraces to $93,000.
Bitcoin's Open Interest (OI) fell 1.03% in the last 24 hours, while the dominance of traders shorting the digital asset also rose, per the Long/Shorts Ratio.
The "Extreme Greed" sentiment strengthened from 77 to 78 over the last 24 hours, according to the reading of the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:00 p.m. ET)</td>
</tr>
<tr>
<td>Algorand (ALGO)</td>
<td>+20.07%</td>
<td>$0.3476</td>
</tr>
<tr>
<td>The Sandbox (SAND)</td>
<td>+8.90%</td>
<td>$0.6567</td>
</tr>
<tr>
<td>Worldcoin (WLD)</td>
<td>+8.79%</td>
<td>$2.81</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.32 trillion, contracting 0.26% in the last 24 hours.
Stock futures traded near the flatline Thursday overnight. The Dow Jones Industrial Average Futures rose 60 points, or 0.13%, as of 8 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.08%, while Nasdaq 100 Futures added 0.07%.
Banks, post offices, shipping services, stock markets, and all the other over-the-counter markets like bond markets remained closed on the Thanksgiving holiday.&nbsp;
Stock markets will reopen on Friday to close early by 1:00 p.m. ET.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Arthur Azizov, CEO of cryptocurrency payment provider B2BINPAY, told Benzinga that the market was on the brink of a "significant shift," transitioning from Bitcoin season to alt season.
"It&#8217;s very close now, as the altseason index is already at 59, according to CoinMarketCap, which is more than half. When the index reaches 75, we can confidently say the alt season has begun. The index rises with the number of altcoins outperforming Bitcoin," Azizov remarked.
Widely-followed cryptocurrency analyst Dom's Crypto noted Bitcoin was flipping the $95,000 resistance level into support.
"This will lead to a $100,000 BTC faster than anyone thinks," the analyst forecast.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Path to $100,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is just as we &#39;speak&#39; flipping the resistance level $95,000 in to support This will lead to a $100k <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> faster than anyone thinks &#8211; Myself included <a href="https://t.co/nWewMHEH22">pic.twitter.com/nWewMHEH22</a>
&mdash; Dom&#39;s Crypto (@Doms_Crypto) <a href="https://twitter.com/Doms_Crypto/status/1862285687195640218?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42235119/ethereum-outperformed-bitcoin-this-week-as-key-indicators-shift-report">Ethereum Outperformed Bitcoin This Week As Key Indicators Shift: Report</a></li>
</ul>

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees 'Significant Shift' From BTC Season To Alt Season

Seven &amp; i Holdings Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>), the Japanese conglomerate that owns the global convenience store chain 7-Eleven, has become the focus of significant international investment interest. 
What Happened: U.S.-based firms Bain Capital, KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), and Fortress Investment Group have reportedly submitted bids for Seven &amp; i&#8217;s supermarket and restaurant business holding company, according to sources cited <a href="https://asia.nikkei.com/Business/Business-deals/Bain-KKR-bid-to-acquire-Seven-i-s-supermarket-business">by</a> Nikkei. 
York Holdings, Japanese trading giant Sumitomo Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>) has also joined the bidding, reflecting strong domestic competition.
York Holdings, established by Seven &amp; i in October as part of a broader corporate restructuring, is designed to streamline the company's operations. The initial round of bidding concluded Thursday, with shortlisted contenders expected to begin detailed asset evaluations in early 2025.
According to a recent NHK <a href="https://www3.nhk.or.jp/news/html/20241119/k10014643321000.html">report</a>, the founding Ito family of Seven &amp; i Holdings, the parent company of 7-Eleven, is actively pursuing plans to take the company private through a management buyout, aiming to prevent a potential takeover by a Canadian rival and consolidate control over the business within the family.
See Also: <a href="https://www.benzinga.com/24/11/42237449/mexican-president-sheinbaum-pushes-back-against-trumps-border-closure-claim-clarifies-migration-stance">Mexican President Sheinbaum Pushes Back Against Trump&#8217;s Border Closure Claim, Clarifies Migration Stance</a>
Why It Matters: The renewed investor interest follows Seven &amp; i&#8217;s rejection of a $38.5 billion acquisition offer from Alimentation Couche-Tard Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANCTF#OTC">ANCTF</a>), the Canadian parent company of Circle K. 
Couche-Tard aimed to create the world's largest convenience store operator through the merger but faced antitrust concerns in the U.S. Despite proposing divestitures to address regulatory issues, the bid was deemed not in the best <a href="https://www.benzinga.com/markets/equities/24/09/40765790/circle-k-owner-couche-tard-pursues-talks-with-7-11-operator-seven-i-after-38-5b-bid-rejected">interests of Seven &amp; i's shareholders</a>.
Analysts, including JapanConsuming co-founder Michael Causton, have highlighted that Seven &amp; i remains undervalued due to its complex structure and corporate culture. 
Couche-Tard's strategic timing, paired with its reputation for deal-making, signals its recognition of the company&#8217;s long-term potential. However, acquiring Seven &amp; i at a lower valuation remains challenging as investor awareness of <a href="https://www.benzinga.com/markets/equities/24/09/40765790/circle-k-owner-couche-tard-pursues-talks-with-7-11-operator-seven-i-after-38-5b-bid-rejected">its intrinsic value grows</a>.
Price Action: Shares of Seven &amp; i rose 2.5% in Tokyo trading, on Friday following these developments, reflecting optimism about the company's strategic moves, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
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<li><a href="https://www.benzinga.com/general/education/24/11/42232990/so-you-told-your-family-to-invest-in-bitcoin-dogecoin-ethereum-at-thanksgiving-last-year-heres-how-much-they-now-have-and-why-you-might-be-invited-back-to-the-adult-table-2">So You Told Your Family To Invest In Bitcoin, Dogecoin, Ethereum At Thanksgiving Last Year? Here&#8217;s How Much They Now Have (And Why You Might Be Invited Back To The Adult Table)</a></li>
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Image via Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ANCTF

SSUMY

SVNDY

Japanese 7-Eleven Owner Triggers International Investor Frenzy, Attracts Bain Capital And KKR Bids

Mexican President Claudia Sheinbaum has publicly countered President-elect Donald Trump&#8216;s statement regarding Mexico&#8217;s agreement to close its border with the United States. Trump had claimed that Mexico would <a href="https://www.benzinga.com/24/11/42227649/trump-praises-wonderful-conversation-with-mexican-president-sheinbaum-she-has-agreed-to-stop-migration">immediately halt migration</a> to the U.S., a statement Sheinbaum has now addressed.
What Happened: Mexican President Claudia Sheinbaum has contested President-elect Donald Trump&#8216;s assertion that Mexico agreed to close its border with the U.S. &#8220;effectively immediately.&#8221; Sheinbaum clarified her stance in a post on X, stating that Mexico&#8217;s strategy focuses on addressing migration while respecting human rights.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">En nuestra conversación con el presidente Trump, le expuse la estrategia integral que ha seguido México para atender el fenómeno migratorio, respetando los derechos humanos. Gracias a ello se atiende a las personas migrantes y a las caravanas previo a que lleguen a la frontera.…
&mdash; Claudia Sheinbaum Pardo (@Claudiashein) <a href="https://twitter.com/Claudiashein/status/1861946615315275962?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Sheinbaum emphasized that Mexico&#8217;s approach is not about shutting borders but fostering cooperation between governments and peoples. 
Her comments were a response to Trump&#8217;s post on Truth Social, where he claimed that Mexico would halt migration to the U.S. immediately. Trump described the conversation with Sheinbaum as &#8220;wonderful,&#8221; mentioning agreements on migration and drug inflow issues.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42214089/pepe-set-to-join-dogecoin-shiba-inu-as-multi-billion-dollar-meme-coin-by-2025-massive-breakout-coming-soon-trader-predicts?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Pepe Set to Join Dogecoin, Shiba Inu As Multi-Billion Dollar Meme Coin By 2025: &#8216;Massive Breakout&#8217; Coming</a>
Why It Matters: The talks come amid Trump&#8217;s announcement of a new executive order to impose tariffs on Chinese, Canadian, and Mexican goods. The tariffs aim to pressure these countries to enhance border security and combat fentanyl exports to the U.S. Sheinbaum has warned of <a href="https://www.benzinga.com/news/global/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">potential counter-tariffs</a>, suggesting a tit-for-tat response that could jeopardize mutual businesses.
Earlier, Sheinbaum had addressed Trump in a letter, stating that &#8220;neither threats nor tariffs will solve the migration or the drug abuse phenomenon in the US,&#8221; advocating for collaborative solutions to the fentanyl crisis.
Furthermore, Sheinbaum has expressed concerns about a potential trade war, warning that tariffs could lead to a cycle of retaliatory measures, risking the operations of major exporters out of Mexico like General Motors Co., Stellantis NV, and Ford Motor Co.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</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>

Mexican President Sheinbaum Pushes Back Against Trump's Border Closure Claim, Clarifies Migration Stance

As of today, the U.S. debt has skyrocketed to $36 trillion and around one in every five dollars the government spends goes straight into repaying investors. In addition to causing the government a great deal of trouble, this scenario is also becoming a potential stumbling block for Donald Trump&#8217;s economic ambitions and <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">will impact</a> the new government agency headed by Musk and Ramaswamy.
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<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
The U.S. federal debt is growing relentlessly. According to White House debt <a href="https://www.whitehouse.gov/wp-content/uploads/2023/03/hist07z1_fy2024.xlsx">data</a>, it was $19.5 trillion in 2016, shortly before Trump was elected. It <a href="https://www.benzinga.com/personal-finance/24/10/41564246/from-10-trillion-to-35-trillion-how-government-spending-has-spiraled-out-of-control">skyrocketed</a> to $26.9 trillion by 2020 and now is nearly <a href="https://www.crfb.org/press-releases/gross-national-debt-reaches-36-trillion">$36 trillion</a>. "The point is that fiscal policy reflects joint action by Congress and the president," David Primo, a University of Rochester professor of political science and business administration, told AP. This directly impacts how the government functions, so it&#8217;s not just about numbers.
According to the <a href="https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0824.pdf">Congressional Budget Office</a> (CBO), interest payments alone will total more than $1 trillion in the upcoming year. The government intends to spend less on national security than on these payments. What&#8217;s worse, rising debt service costs are crowding out essential programs like infrastructure, education and health care – areas that are supposed to contribute to future growth.
See Also: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
<h2 class="wp-block-heading">Big Promises, Bigger Obstacles</h2>
Trump has talked about big economic plans, including <a href="https://www.benzinga.com/government/regulations/24/11/41885777/how-trumps-tax-cuts-tariffs-animal-spirits-could-shape-sp-500-earnings">tax cuts and tariffs</a>. But the rising cost of paying off existing debt means there's less room for these moves. The costs of servicing this huge debt leave Trump with fewer options for ambitious economic measures. Increased debt restricts the federal budget&#8217;s flexibility, making it more difficult to enact tax cuts that Trump claims would help the middle class.
Critics argue that Trump&#8217;s proposed tax cuts, like those from 2017, largely benefit the wealthiest Americans and <a href="https://www.benzinga.com/government/24/06/39462030/trump-added-nearly-two-times-more-to-the-national-debt-than-biden-while-in-office-new-report">add to the already ballooning debt</a>. Additionally, rising national debt tends to raise interest rates, making it more expensive for Americans to purchase houses, vehicles or make long-term investments.&nbsp;
Trending: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">The Forces Pulling Interest Rates</h2>
Jeffrey Schmid, the president of the Kansas City Fed, has recently stressed that <a href="https://www.benzinga.com/24/11/42075235/feds-schmid-rising-us-national-debt-could-push-interest-rates-higher">three significant factors</a> influence interest rates: growing debt, an aging population and productivity growth. Productivity gains, especially driven by new tech like AI, could mean higher rates. However, an aging population and the tendency of older generations to save more could push rates lower. &#8220;While now is the time to begin dialing back the restrictiveness of monetary policy, it remains to be seen how much further interest rates will decline or where they might eventually settle,&#8221; Schmid said.
With a $36 trillion bill, the government must keep attracting investors to buy its bonds, which will mean offering higher interest rates.
Without major adjustments, the national debt will continue destabilizing the economy, making it even harder for investors and the government to take risks. The effectiveness of this new agency&#8217;s cost-cutting initiatives will change in conjunction with interest rate fluctuations. The ongoing question is whether productivity and new technology can save the day or if the growing debt will push rates further, limiting economic growth and complicating the agency&#8217;s mission to streamline spending.
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Personal Finance

1 In 5 Dollars The Government Expends Goes To Repaying Investors. Here's Why This Spells Trouble For Trump And DOGE

France maintains one of the strictest cannabis policies in Europe, prohibiting recreational use, possession and cultivation. Paradoxically, it also has the highest <a href="http://benzinga.com/cannabis">cannabis</a> consumption rate on the continent. As the French government grapples with mounting public debt –currently at 112% of GDP– legalizing and taxing cannabis presents a potential fiscal lifeline.  
<h3 class="wp-block-heading">France Could Unlock Major Gains By Legalizing</h3>
The country&#8217;s stringent laws lead to significant law enforcement costs and strain on the judicial system. <a href="https://www.theguardian.com/commentisfree/2024/nov/27/france-cannabis-consumption-europe-tax-decriminalisation-crime">According</a> to The Guardian, approximately 200,000 people pass through the criminal justice system annually on drug-related charges, with substantial resources allocated to anti-cannabis efforts.
However, economic analysts consulted by The Guardian suggest that legalizing cannabis could alleviate France&#8217;s financial challenges. A 2019 <a href="https://shs.cairn.info/revue-notes-du-conseil-d-analyse-economique-2019-4-page-1?lang=fr#s1n7">study</a> by an economic advisory board within the Prime Minister&#8217;s office estimated that legalization could generate €2.8 billion ($2.9 billion) in fiscal receipts and create up to 80,000 jobs.
<h3 class="wp-block-heading">High Anti-Cannabis Costs Amid Economic Strain</h3>
Legalization proponents argue it could also reduce gang-related crime by removing a lucrative market from criminal networks. Moreover, regulated sales might undercut illegal dealers and decrease street violence associated with drug trafficking.
<ul>
<li>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 <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
These revenues, combined with savings on enforcement costs, could also provide much-needed relief as the government contemplates unpopular tax hikes and spending cuts. With national debt at €3.2 trillion and a budget deficit projected at 6% for 2024, cannabis could offer France a much-needed financial boost.
<h3 class="wp-block-heading">Future of French Medical Cannabis In Limbo</h3>
Meanwhile, despite the potential benefits of legalizing, France&#8217;s medical marijuana trial <a href="https://www.benzinga.com/markets/cannabis/24/10/41503963/frances-medical-marijuana-trial-faces-uncertainty-as-new-amendment-tries-to-keep-it-running">faces delays and political uncertainty</a>. Originally set to end in March 2024, the program now hinges on a proposed amendment to extend it through 2025. Political delays have prevented alignment with European regulations, leaving the future of medical cannabis in limbo.&nbsp;
Without immediate action, over 2,000 patients could lose access to treatments, highlighting the need for a permanent framework.&nbsp;&nbsp;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38029760/cannabis-on-the-rise-in-europe-why-germanys-legalization-is-a-game-changer-for-the-ecosystem">Cannabis On The Rise In Europe: Why Germany&#8217;s Legalization Is A Game Changer For The Ecosystem</a>
<h3 class="wp-block-heading">Neighbors Diverge: Germany Lights Up</h3>
In contrast, Germany's cannabis market exemplifies a more progressive approach. Its Cannabis Control Act, enacted earlier this year, has spurred rapid growth. Sanity Group, a leading German cannabis company, <a href="https://www.benzinga.com/markets/cannabis/24/10/41336543/is-germany-set-to-become-next-cannabis-giant-we-tripled-within-one-year-says-industry-insider">reported tripling its revenue within a year</a> due to regulatory changes. Germany's potential expansion into adult-use cannabis could further establish it as Europe's cannabis leader.&nbsp;&nbsp;
With <a href="https://www.benzinga.com/markets/cannabis/24/11/42043465/czech-government-legalizes-cultivation-of-three-cannabis-plants-allows-possession-of-50-grams">evidence from neighboring countries</a> and <a href="https://www.benzinga.com/markets/cannabis/22/04/26520421/majority-of-europeans-support-cannabis-legalization-which-country-will-do-something-about-it">growing public discourse</a>, France faces increasing pressure to reconsider its strict policies. Legalization could not only address fiscal challenges but also position France as a competitor in the burgeoning European cannabis industry.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/11/42162875/canopy-growths-german-subsidiary-teams-up-with-portugals-gro-vida-to-expand-medical-cannabis-supply">Canopy Growth&#8217;s German Subsidiary Teams Up With Portugal&#8217;s Gro-Vida To Expand Medical Cannabis Supply</a></li>
</ul>
Image generated with AI tools.

Cannabis

Eurozone

Europe's Top Cannabis Consumer Still Criminalizes Use, Forfeits Economic Gains

Planning to <a href="https://www.benzinga.com/personal-finance/24/09/40964924/most-people-expect-to-retire-at-67-but-56-retire-sooner-can-you-guess-the-actual-average-retirem">retire at a specific age</a> often involves careful preparation, but reality doesn't always align with expectations. A new study by the Employee Benefit Research Institute (EBRI) found that 58% of retirees leave the workforce earlier than planned, frequently due to factors beyond their control.
EBRI's 2024 Spending In Retirement study, which surveyed 3,600 retirees aged 62 to 75, reveals some of the reasons for early retirement and the financial challenges that come from it.&nbsp;
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<li>The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>
<h2 class="wp-block-heading">Why Do People Retire Early?</h2>
For some, <a href="https://www.benzinga.com/personal-finance/24/10/41185972/is-65-too-early-to-retire-new-research-says-it-might-be-45-of-households-are-expected-to-run-out">retiring early</a> is a strategic choice. They've built their nest egg and have methodically planned for early retirement. For others, it isn't always within their control.&nbsp;
Health issues and workplace reorganization are the leading factors behind why many Americans retire early. According to the EBRI survey:&nbsp;
<ul>
<li>38% of those who retired earlier than expected cited health problems or disabilities as the main reason. </li>
<li>23% stated that company-related issues like downsizing, closures or reorganizations were the cause. </li>
</ul>
Roughly two out of five of those who retired early did so because they felt financially prepared. However, this group represents a minority compared to those whose circumstances necessitated an earlier exit.&nbsp;
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
<h2 class="wp-block-heading">Financial Struggles Among Early Retirees</h2>
Leaving the workforce sooner than expected can have negative financial implications. Early retirees have less time to <a href="https://www.benzinga.com/personal-finance/24/11/41918104/are-you-on-track-to-retire-rich-heres-the-nest-egg-you-need-to-be-considered-a-wealthy-retiree">save for retirement</a>, requiring them to stretch their existing savings across a longer period of time.&nbsp;
A similar study by John Hancock Financial found that early retirees are more likely to face financial stress for several reasons:&nbsp;
<ul>
<li>33% of those who retire early rely solely on Social Security for their income, compared to just 11% of those who retired when they planned.</li>
<li>Over half reported cutting back on spending and 45% downsized their living arrangements to reduce costs.</li>
<li>With longer life expectancy, Americans must plan for funding a retirement that could span multiple decades, extending longer if they retire early. </li>
</ul>
The EBRI study also revealed that many retirees are unprepared for the financial demands of retirement. Half of retirees said they did not save as much as they needed and only one-third thought they had enough.&nbsp;
Trending: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
<h2 class="wp-block-heading">A Broader Retirement Reality</h2>
Despite the financial challenges, many retirees remain optimistic. Two-thirds of respondents in the EBRI study said they are living the retirement lifestyle they envisioned, even if getting there was difficult.
However, the findings from this study highlight an important lesson: while planning for the age you want to retire at is important, unforeseen circumstances can disrupt even the best-laid plans. Health issues, workplace changes and <a href="https://www.benzinga.com/personal-finance/24/09/40800774/gen-xs-looming-retirement-crisis-is-worse-than-they-realize-expert-compares-it-to-being-handed-a">insufficient savings</a> are all risks that retirees should prepare for to ensure a more secure financial future.
For those still working, start planning early and revisit your savings goals frequently to help mitigate challenges that may come if you must unexpectedly retire.&nbsp;
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</ul>

EBRI Study Reveals 58% Of Retirees Retire Earlier Than Expected, Here's Why

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed up 68.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed up 25.00% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/KAYS">Kaya Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KAYS#OTC">KAYS</a>) shares closed up 16.78% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed up 10.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed up 8.70% at $0.09</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed up 8.11% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/RSSFF">Affinor Growers</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RSSFF#OTC">RSSFF</a>) shares closed up 6.48% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/EAST">Eastside Distilling</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) shares closed up 4.24% at $0.67</li>
<li><a href="https://www.benzinga.com/quote/CWBHF">Charlottes Web Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTC">CWBHF</a>) shares closed up 3.33% at $0.12</li>
<li><a href="https://www.benzinga.com/quote/SOL">Emeren Group</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOL#NYSE">SOL</a>) shares closed up 3.31% at $1.94</li>
<li><a href="https://www.benzinga.com/quote/CURR">Currenc Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURR#NASDAQ">CURR</a>) shares closed up 3.07% at $1.76</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/MPXOF">MPX International</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPXOF#OTC">MPXOF</a>) shares closed down 33.33% at $0.0002</li>
<li><a href="https://www.benzinga.com/quote/MGWFF">Maple Leaf Green World</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGWFF#OTC">MGWFF</a>) shares closed down 32.15% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/LMLLF">Pharmadrug</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMLLF#OTC">LMLLF</a>) shares closed down 31.19% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/GBHPF">Global Hemp Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBHPF#OTC">GBHPF</a>) shares closed down 30.82% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 14.71% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed down 10.60% at $0.10</li>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed down 9.20% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/BBRRF">Blueberries Medical</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBRRF#OTC">BBRRF</a>) shares closed down 6.17% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/NWVCF">EnWave</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NWVCF#OTC">NWVCF</a>) shares closed down 5.80% at $0.14</li>
<li><a href="https://www.benzinga.com/quote/YCBD">cbdMD</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) shares closed down 3.96% at $0.49</li>
<li><a href="https://www.benzinga.com/quote/CNPOF">RIV Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) shares closed down 3.90% at $0.08</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BBRRF

BMMJ

CLSH

CNBX

CNPOF

CNTMF

CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

CURR

CWBHF

EAST

GBHPF

KAYS

LMLLF

LVRLF

MGWFF

MPXOF

NWVCF

RMHB

RSSFF

TGIFF

XXII

YCBD

Cannabis Stock Movers For November 28, 2024

Berkshire Hathaway Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) stock soared to unprecedented levels, closing Wednesday at $483.08 after touching a 52-week high of $491.67. 
<h2 class="wp-block-heading">Berkshire's Stock Surges to New Heights</h2>
The stock has been on a tear, boasting a 34% gain over the past year and 19.6% in the last six months. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28132715/Screenshot-2024-11-28-at-11.57.02-PM.png" alt="" class="wp-image-669243" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28132715/Screenshot-2024-11-28-at-11.57.02-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28132715/Screenshot-2024-11-28-at-11.57.02-PM-300x234.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112824&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
With its price trading well above key moving averages—including a 200-day SMA of $430.63—technical indicators suggest the bullish trend is intact.
However, with the Relative Strength Index (RSI) at 68.79, the stock is teetering near overbought territory, raising questions about sustainability. Despite this, a Moving Average Convergence Divergence (MACD) reading of 5.56 signals continued strength.
Read Also: <a href="https://www.benzinga.com/personal-finance/24/11/42191171/warren-buffett-claims-he-killed-the-dow-investing-peanuts-and-explains-its-a-huge-structural-advantage-to-not-have-a-lot-of-money">Warren Buffett Claims He &#8216;Killed The Dow&#8217; Investing &#8216;Peanuts&#8217; – And Explains It&#8217;s A &#8216;Huge Structural Advantage To Not Have A Lot Of Money&#8217;</a>
<h2 class="wp-block-heading">Buffett's Generosity Knows No Bounds</h2>
Even as his net worth hits $150 billion, <a href="https://www.benzinga.com/topic/warren-buffett">Warren Buffett</a> isn't slowing down his philanthropic mission. On Monday, the Oracle of Omaha pledged another $1.15 billion worth of Berkshire stock to his family's charitable foundations, continuing his 2006 commitment to give away most of his wealth.
Buffett has now donated 56.6% of his Berkshire shares, solidifying his legacy as both an investing icon and a philanthropic force. His latest move follows a colorful shareholder<a href="https://www.businesswire.com/news/home/20241125323423/en/Berkshire-Hathaway-Inc.-News-Release"> letter</a>, where he reaffirmed his dedication to wealth redistribution.
<h2 class="wp-block-heading">A Wealth Legacy Like No Other</h2>
Buffett, who <a href="https://www.forbes.com/sites/dereksaul/2024/11/25/never-wished-to-create-a-dynasty-warren-buffett-donates-11-billion-in-berkshire-stock-and-updates-will/">ranks</a> as the sixth-richest person in the world, has more than doubled his fortune since 2014. Yet, he trails Elon Musk's $330 billion net worth by a significant margin. Unlike Musk's splashy ventures, Buffett's wealth engine—Berkshire Hathaway—continues its steady climb, reinforcing its position as a titan of diversified investing.
Investors are left wondering: can Berkshire maintain its momentum, or is the stock's RSI warning of a potential pullback? Either way, one thing remains clear: Buffett's empire isn't just breaking records—it's making history.
Read Next: 
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</ul>

Technicals

Warren Buffett's Billion-Dollar Moves Propel Berkshire Stock To Record Highs

The commercial aerospace sector is gaining altitude, driven by surging demand for passenger travel, robust freight activity, and a <a href="https://www.benzinga.com/topic/expert-ideas">resurgence in aircraft orders</a>.
According to Goldman Sachs analyst Noah Poponak, CFA, air traffic recovery is exceeding expectations, with growth now outpacing GDP by more than double. 
The sector&#8217;s strong fundamentals, buoyed by tight supply chains and rising aftermarket revenues, are positioning key aerospace stocks for a significant takeoff.
Here&#8217;s what you need to know — and the top stocks analysts say you should have on your radar.
<h3 class="wp-block-heading">Air Traffic Surpasses Pre-Pandemic Levels</h3>
&#8220;The overall commercial aerospace market is fundamentally strong,&#8221; said Poponak in a note Thursday. 
Global passenger traffic continues its remarkable climb as international air traffic jumped 9% year-over-year (yoy) in September, following an 11% yoy increase in August, according to the International Air Transport Association (IATA). Passenger capacity rose in lockstep, up 9% and 10% yoy, respectively.
Goldman Sachs forecasts another 9% yoy gain for October based on airline reports. 
Forward airline schedules indicate that global passenger capacity will grow by 6% to 7% year-over-year through November, December, and January, reflecting sustained demand as travel appetite remains strong.
<h3 class="wp-block-heading">Freight Market Delivers Double-Digit Growth</h3>
The recovery isn't limited to passengers. International freight traffic surged 11% yoy in September, following a 12% yoy gain in August, with freight capacity expanding by 8% yoy in both months. 
Major cargo players FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) and United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) also saw gains, with UPS reporting 11% yoy growth and FedEx posting a 3% yoy increase in global air cargo traffic.
<h3 class="wp-block-heading">Boeing, Airbus Rack Up Orders</h3>
Large commercial jet manufacturers are riding the wave of demand. In October alone, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) secured 63 new orders, while Airbus SE (OTCPK: EADSY) booked 82 aircraft orders—both with zero cancellations. 
&#8220;New aircraft order campaigning activity appears to remain robust, for both growth and replacement,&#8221; Poponak wrote. 
Parked aircraft, which currently make up 11.8% of the total global fleet, remained flat month-over-month, further reflecting high utilization levels as airlines capitalize on the recovery in passenger and freight traffic.
<h3 class="wp-block-heading">Goldman Sachs' Top Stock Picks</h3>
Goldman Sachs&#8217; Poponak highlighted 11 buy-rated stocks that stand to benefit from the industry's resurgence. These include large aircraft manufacturers, component suppliers, and business jet producers.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Category</th>
</tr>
</thead>
<tbody>
<tr>
<td>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>)</td>
<td>Aerospace Systems</td>
</tr>
<tr>
<td>Boeing Co.</td>
<td>Large Aircraft</td>
</tr>
<tr>
<td>TransDigm Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>)</td>
<td>Aircraft Components</td>
</tr>
<tr>
<td>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</td>
<td>Engine Manufacturing</td>
</tr>
<tr>
<td>HEICO Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>)</td>
<td>Aircraft Parts</td>
</tr>
<tr>
<td>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>)</td>
<td>Aerospace Materials</td>
</tr>
<tr>
<td>Ducommun Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCO#NYSE">DCO</a>)</td>
<td>Aerospace Electronics</td>
</tr>
<tr>
<td>CAE Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>)</td>
<td>Simulation &amp; Training</td>
</tr>
<tr>
<td>Bombardier Inc. (OTCPK: BOMBF)</td>
<td>Business Jets</td>
</tr>
<tr>
<td>Embraer S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERJ#NYSE">ERJ</a>)</td>
<td>Regional Aircraft</td>
</tr>
<tr>
<td>Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) </td>
<td>Business Jets &amp; Helicopters</td>
</tr>
</tbody>
</table>
</figure>
Among these, Woodward (WWD) is singled out for its placement on Goldman's &#8220;Conviction List,&#8221; while Boeing remains a flagship name for its leadership in large commercial jets.

Analyst Color

Large Cap

Mid Cap

BOMBF

European Aeronautic Defence And Space Unsponsored

EADSY

Embraer-Empresa Brasileira De Aeronautica

Aerospace Ready To Take Off: Goldman Sachs Reveals 11 Top Picks In The Sector

In the current session, the stock is trading at $139.73, after a 0.62% spike. Over the past month, Live Nation Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) stock increased by 19.28%, and in the past year, by 65.85%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1732824015_0.png" alt="Past Year Chart" />

<h3>Comparing Live Nation Entertainment P/E Against Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Live Nation Entertainment has a better P/E ratio of 156.03 than the aggregate P/E ratio of 41.7 of the Entertainment industry. Ideally, one might believe that Live Nation Entertainment Inc. might perform better in the future than it's industry group, but it's probable that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1732824016_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

P/E Ratio Insights for Live Nation Entertainment

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pimco Chief Investment Officer (<a href="https://investorplace.com/stock-quotes/cio-stock-quote/">CIO</a>) Dan Ivascyn Recently told Morningstar.com&rsquo;s Sarah Hansen that investors should think about adding more bonds to their investment portfolio. One way to do that is through the use of asset allocation ETFs.&nbsp;




&ldquo;With bonds looking attractive and stocks looking expensive, Ivascyn says, &lsquo;the old 60/40 rule of thumb &hellip; shifts back to something like 40/60.&rsquo; He thinks a case can even be made for a 35% stocks/65% bonds split,&rdquo; Hansen <a href="https://www.morningstar.com/markets/pimcos-ivascyn-why-investors-should-switch-their-6040-portfolio-4060">wrote</a> on July 12.




The CIO also likes bonds because yields are high right now, suggesting you&rsquo;ll likely earn relatively high returns over the next few years from your bond holdings.



So, if you&rsquo;re interested in flipping the 60/40 portfolio on its head, I&rsquo;ve got three asset allocation ETFs to buy to make it happen. All three will have both stocks and bonds and be weighted close to the 40/60 mentioned above.



<h2>iShares Core Moderate Allocation ETF (AOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/ishares1600-300x169.jpg" alt="iShares by Blackrock sign"><div>Source: Sundry Photography / Shutterstock.com</div></div>The iShares Core Moderate Allocation ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/aom-stock-quote/">AOM</a>) is the largest of my asset allocation ETFs, with <a href="https://www.ishares.com/us/products/239765/ishares-moderate-allocation-etf">$1.36 billion</a> in net assets. Launched on Nov. 4, 2008, the fund charges a reasonable 0.15%, or $15 per $10,000 invested.



AOM <a href="https://www.ishares.com/us/library/stream-document?stream=reg&amp;product=I-TRMDRT&amp;shareClass=NA&amp;documentId=1194425%7E1194427%7E2186599%7E2138861&amp;iframeUrlOverride=%2Fus%2Fliterature%2Fprospectus%2Fp-ishares-core-allocation-etf-7-31.pdf">tracks the performance</a> of the S&amp;P Target Risk Moderate Index. It&rsquo;s intended to provide investors with significant fixed-income exposure while also providing some capital appreciation potential through equities.&nbsp;



At present, AOM has 58.8% of its net assets invested in fixed-income investments, 40.5% in equities and 0.65% in cash. The top three sectors by country are the U.S. (67.6%), Japan (3.86%) and China (2.98%).



The ETF is a fund-of-funds with seven iShares ETFs, including the iShares Core Total USD Bond Market ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/iusb-stock-quote/">IUSB</a>), the largest weighting of the seven, with 50.4% of its net assets. The second-highest is the iShares Core S&amp;P 500 ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/ivv-stock-quote/">IVV</a>) accounting for 23.3%.



<h2>Amplify High Income ETF (YYY)</h2>



<a href="https://investorplace.com/wp-content/uploads/2018/01/amplify.png"><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2018/01/amplify-300x165.png" alt="The logo for Amplify Exchange Traded Funds."></a>The Amplify High Income ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/yyy-stock-quote/">YYY</a>) is the second-largest of my asset allocation ETFs, with <a href="https://amplifyetfs.com/yyy/">$471.8 million</a> in net assets. Launched on June 21, 2013, the fund charges 0.50% plus 4.10% for the fees paid for this fund-of-funds ETF.



Why would someone pay such exorbitant fees?



YYY invests in 60 closed-end funds (CEFs). Its goal is to generate a high level of monthly income and capital appreciation. It tracks the performance of the ISE High Income Index, which <a href="https://amplifyetfs.com/wp-content/uploads/files/Amplify_YYY_Summary_Prospectus.pdf">ranks the 60 CEFs</a> by yield, discount to net asset value (NAV) and liquidity.



The index selection methodology starts with all U.S.-listed CEFs that trade on the NYSE, Nasdaq, NYSE American and CBOE Exchange. The funds are then divided into two tiers &mdash; Tier 1 funds have net assets of $500 million or more while Tier 2 are $250 million or higher &mdash; and ranked based on the three factors mentioned earlier.&nbsp;



The top 30 CEFs by fund yield are given equal 3% weights. The remaining 30 (it can be less) are given equal weights to get to 100%. Rebalanced in December and June, no holding can exceed a 3.5% weight with those outside the top 30 maxing out at 2%.&nbsp;



It&rsquo;s a little bit of a bonds overkill, with 86% of its net assets in bonds and 14% in stocks. However, it yields 12.03%.&nbsp;



<h2>The Brinsmere Funds-Conservative ETF (TBFC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/etf-1600-2-300x169.png" alt="Blocks that spell out ETF in front of jar with money and change."><div>Source: SHUN_J / Shutterstock</div></div>The smallest of the ETFs, The Brinsmere Funds-Conservative ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/tbfc-stock-quote/">TBFC</a>) is the smallest of the three asset allocation ETFs, with <a href="https://www.thebrinsmerefunds.com/the-brinsmere-funds-conservative-etf">$284.9 million</a> in net assets. Launched on Jan. 12, 2024, it is also the newest. The fund charges a reasonable 0.41%.



TBFC is an actively managed fund of funds. The Adviser is The Milwaukee Company, which uses two evidence-based tactical asset allocation investment strategies: Systematic Market Beta (<a href="https://investorplace.com/stock-quotes/smb-stock-quote/">SMB</a>) and Classic Asset Allocation Revisited Strategy (CAAR). You can read more about it in the <a href="https://brinsmere.filepoint.live/assets/pdfs/tbfc_summary.pdf">summary prospectus.</a>&nbsp;



The goal of the two strategies is to deliver higher risk-adjusted returns.&nbsp;



It currently invests in 25 ETFs and mutual funds weighted between 15.29% for the Vanguard Short-Term Treasury ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/vgsh-stock-quote/">VGSH</a>), its top holding, to the bottom weight of 0.14% for the First American Treasury Obligations Fund (NASDAQ:<a href="https://investorplace.com/stock-quotes/fxfxx-stock-quote/">FXFXX</a>).



The fund-of-funds currently allocates <a href="https://www.morningstar.com/etfs/arcx/tbfc/portfolio">53.6%</a> to fixed-income, 42.8% to equities, and the remaining 3.6% to cash and other investments. Nearly <a href="https://www.morningstar.com/etfs/arcx/tbfc/portfolio">100%</a> of the fixed-income securities held by the ETFs and mutual funds have investment-grade bond ratings. The average market cap of the equities held is $138.2 billion.&nbsp;



Because it&rsquo;s new and doesn&rsquo;t have a track record, you&rsquo;ll want to do greater due diligence for TBFC.



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



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/asset-allocation-alert-3-etfs-to-get-you-to-a-40-60-portfolio/">Asset Allocation Alert: 3 ETFs to Get You to a 40/60 Portfolio</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Asset Allocation Alert: 3 ETFs to Get You to a 40/60 Portfolio

PCEF: Hefty Expenses And Value Erosion

Amplify High Income ETF declares $0.12 dividend

Amplify High Income ETF declares monthly distribution of $0.1200

YYY: Long-Term Decay And Excessive Expense Ratio

Amplify High Income ETF declares CAD 0.12 dividend

YYY: A Cautionary Tale Of High-Fee, Low-Return Investing

CEFS: Activist Manager Unlocks Value In Closed-End Funds

BCAT

BIGZ

BMEZ

BSTZ

CEFS

ECAT

IUSB

MEGI

TBFC

VGSH

Less than a year after launching the Amplify YieldShares Prime 5 Dividend ETF (BATS: PFV), <a href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Famplifyetfs.com%2F&amp;esheet=51424527&amp;newsitemid=20160921005359&amp;lan=en-US&amp;anchor=Amplify+ETFs&amp;index=1&amp;md5=fdf19071159ee394caf574386e5e8ff0">Amplify ETFs</a> revealed significant changes to that exchange-traded fund. That fund is now known as the Amplify YieldShares Senior Loan and Income ETF(BATS: YESR).
YESR follows the Prime Senior Loan and Income CEF Index, which &ldquo;is designed to provide targeted exposure to closed-end funds (CEFs) that invest at least 80% of their assets in floating rate senior loans and other floating rate instruments, pay dividends and are listed in the United States. The New Index will be developed, maintained and sponsored by Prime Indexes, which is not affiliated with the Fund, the adviser or sub-adviser,&rdquo; <a href="http://www.businesswire.com/news/home/20170823006000/en/Amplify-YieldShares-Prime-5-Dividend-ETF-Announces">according to a statement</a> from Chicago-based Amplify.
Floating rate notes and senior loans are unique in that their yield is tied to a benchmark such as LIBOR, rather than being fixed. Loans are also higher on the capital structure than other unsecured obligations, and some even carry floors to insure you earn a respectable yield even if rates stay low. Their coupon rate typically resets every 90 days, resulting in a duration shorter than three months, <a href="http://www.benzinga.com/etfs/specialty-etfs/14/05/4586380/uncertainty-on-the-rise-for-bank-loan-etfs">Benzinga reported</a>.
<h3>YESR&#39;s Objective</h3>
In its new form, YESR will evaluate floating rate closed-end funds based on distribution rate, premium/discount rate, total expense ratios and liquidity. As an asset class, senior loans are often favored during rising interest rate environments because the floating rate component makes them less sensitive to higher borrowing costs.
The ETF&#39;s top 10 holdings combine for over 55 percent of its weight. With a total expense ratio of 2.15 percent per year, or $21.50 on a $10,000 investment, YESR is pricier than the old PFV. PFV charged just 0.45 percent per year. Still, YESR&#39;s fee is comparable to those found on other ETFs that hold closed-end funds.
<h3>More On Amplify</h3>
Other Amplify ETFs include the fast-growing Amplify Online Retail ETF (NASDAQ:<a class="ticker" href="/stock/IBUY#NASDAQ">IBUY</a>), one of this year&#39;s best-performing retail ETFs; and the YieldShares High Income ETF (NYSE:<a class="ticker" href="/stock/YYY#NYSE">YYY</a>).
&ldquo;Amplify ETFs, sponsored by Amplify Investments, has over $295 million in assets across ETFs for which it is Adviser or Sub-Adviser (as of August 22, 2017),&rdquo; according to the statement.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/08/9993555/theres-a-late-summer-souring-on-semiconductor-etfs">Souring On Semiconductor ETFs</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/08/9993553/gold-etfs-could-glitter-in-september">Gold ETFs Could Shine In September</a>

&ldquo;So, real simple, it&#39;s kind of like a decathlon of three events,&rdquo; said YieldShares founder and CEO <a href="http://www.benzinga.com/topic/christian-magoon">Christian Magoon</a>, discussing the strategy the company uses to evaluate <a href="http://www.benzinga.com/topic/closed-end-funds">closed-end funds</a> for its signature YieldShares High Income ETF Exchange Traded Concepts Trust (NYSE: <a class="ticker" href="/stock/yyy#NYSE">YYY</a>).

	Previously, <a href="http://www.benzinga.com/news/15/05/5548506/yieldshares-on-how-to-invest-for-income-through-etfs">in part one</a>, Magoon laid out strategies for investing for income through <a href="http://www.benzinga.com/topic/etf">ETF</a>s.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/specialty-etfs/14/08/4781543/first-trust-launches-active-strategic-income-etf">First Trust Launches Active Strategic Income ETF</a></bzrelatedlink>

	Benzinga: What is the YieldShares High Income ETF?

	Christian Magoon: It&#39;s a unique product in the sense that it&#39;s an exchange-traded fund that goes out and buys closed-end funds (publicly traded investment companies with a fixed number of shares).

	BZ: What are some characteristics of closed-end funds?

	CM: First, there are about 600 closed-end funds listed in the United States, owned mostly by older people who tend to be retired. They&#39;re really income vehicles.

	Almost all closed-end funds pay out either monthly or quarterly. About 60 percent or so are debt closed-end funds. The remaining 40 percent are equity closed-end funds, dividend funds or option income funds.

	BZ: Why are there so few closed-end funds compared to mutual funds and ETFs?

	CM: The reason closed-end funds really aren&#39;t as popular as ETFs or <a href="http://www.benzinga.com/topic/mutual-fund">mutual funds</a> are, is that they have a bit of an Achilles&rsquo; heel, found in the word &quot;closed.&quot;

	Unlike an ETF or a mutual fund, (a closed-end fund) can&#39;t shrink its shares outstanding or grow its shares outstanding to meet market supply or demand. Instead, the same number of shares is always outstanding.

	BZ: How does this (set number of shares) affect market sales?

	CM: When the market wants to sell that fund, it trades on exchange like an ETF. The shareholder is essentially trying to get somebody in the marketplace to buy it.

	If there are more people selling than buying, the market price starts to drop below the actual NAV (net asset value) of the fund.

	When there are more buyers than sellers, the market price rises above the NAV of the fund. That all sounds good, but there&rsquo;s a problem.

	BZ: What&rsquo;s that?

	CM: Over the last 15 years, the average closed-end fund has traded at about a 4.5 percent discount from net asset value.

	Imagine you bought the closed-end fund on the IPO, with a 4 to 4.5 percent sales charge.

	So, you paid $1.04 for this asset that right away begins trading at a NAV of $1.00. Once it starts trading in the market for a while, investors will often be able to buy that asset for roughly $0.945.

	That&#39;s a bad investment if you&#39;re buying it for $1.04 and it&#39;s worth $0.94 three months later.

	BZ: What does all this have to do with YieldShares High Income ETF?

	CM: We tried to take advantage of the fact that closed-end funds trade at a discount, because, like every good American, we think buying things on sale actually works pretty well.

	In addition, unlike any other area where opinion determines whether a stock is overvalued or undervalued, with a closed-end fund that is not the case. With a closed-end fund, the NAV is the NAV.

	We said, &quot;Hey what if we created an index that went out and looked at the entire closed-end fund universe, and had some minimum market cap and liquidity requirements. Then we could screen out some of the very small, less liquid closed-end funds and concentrate on more of the broad-based, appealing funds that have a fair amount of investor interest that trade at a fair amount.&quot;

	BZ: So, how are the funds ranked?

	CM: We rank them on the level of income they&#39;re paying, the amount of their discount to NAV and their liquidity.

	We have an index called the ISE High Income Index that looks at all 600 closed-end funds, screens out any fund that&#39;s not at least half a billion dollars market cap and that does trade at least a million dollars a day.

	BZ: Then what?

	CM: That takes the 600 closed-end fund universe roughly down to about 200 funds that meet those liquidity criteria.

	Then all 200 funds are ranked using three separate weighted criteria.

	Fifty (50) percent of the weight comes from income paid from the closed-end fund. Twenty-five (25) percent comes from the liquidity score and the other 25 percent comes in terms of discount to NAV.

	BZ: So, it&#39;s a three-part strategy?

	CM: So, real simple, it&#39;s kind of like a decathlon of three events. Eventually (each fund) takes either first place, all the way down to 200th place.

	The 30 funds that get the highest overall scores in those three events become the index.

	BZ: What about diversification?

	CM: We do something called a modified linear rating in which no fund can be greater than 4.25 percent.

	Long story short, you get a portfolio or an index of 30 closed-end funds that come from a variety of different asset classes, representing a variety of different strategies and including a variety of different managers and management styles.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/general/education/14/03/4403680/etfs-vs-mutual-funds-the-debate-rages-on#ixzz3bSSsvQav">ETFs vs. Mutual Funds: The Debate Rages On</a></bzrelatedlink>

	BZ: And the net result for investors?

	CM: That mix creates diversified stock and bond portfolios of closed-end funds. I think our discount to NAV of the average closed-end fund was trading about an 8 percent discount.

	So, you&#39;re able to go out and for $0.92, buy $1 worth of assets that&#39;s generating income of about 8 percent.

	At the time of this writing, <a href="http://www.benzinga.com/author/jim-probasco">Jim Probasco</a> had no position in any mentioned securities.
Image Credit: <a href="http://pixabay.com/en/stock-exchange-trading-floor-738656/">Public Domain</a>

YieldShares founder and CEO, Christian Magoon, spoke with Benzinga about investing for income through <a href="http://www.benzinga.com/topic/etf">ETF</a>s.

	The company sponsors the YieldShares high income ETF Exchange Traded Concepts Trust (NYSE: <a class="ticker" href="/stock/yyy#NYSE">YYY</a>), which seeks to provide results corresponding to the performance of the <a href="http://www.benzinga.com/topic/ise-high-income-index">ISE High Income Index</a>. Currently, the fund has a 30-day <a href="http://www.benzinga.com/topic/sec">SEC</a> yield of 8.35 percent.

	Following is part one of a two-part interview.

	In part one, Magoon explains how to invest for income through exchange-traded funds.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/sector-etfs/15/05/5507365/closed-end-fund-etfs-follow-high-yield-bond-path">Closed-End Fund ETFs Follow High-Yield Bond Path</a></bzrelatedlink>

	Benzinga: What are some factors that come into play when investing for income through an exchange-traded fund?

	Christian Magoon: I think the first consideration is what do you want to own to generate the income? Is it bonds or stocks? How do those respective assets perform?

	The second thing is understanding the amount of income being generated. Most products will have a 30-day SEC yield. That&#39;s the apples to apples number that the Securities and Exchange Commission has income-paying funds produce on their website and in their literature.

	That&#39;s really a good way of comparing income from a dividend stock ETF to a bond ETF using the same kind of formulaic calculation.

	Also, I think it&#39;s important for an investor to understand what the distribution schedule of the fund is. Some are quarterly, some are monthly, some are once a year.

	I also recommend looking at the actual past distribution, the actual dollar amounts of the distributions.

	Understand how variable those distributions are. Sometimes you&#39;ll see a fund pay on a monthly basis and on the quarter end months the distribution might be 50 to 60 percent larger than a month that&#39;s not a quarter-end month.

	BZ: In terms of distribution, month versus quarter probably being the most common, is there any consensus on which is preferred?

	CM: It seems to me investors like distributions that are more frequent, almost like a paycheck. In general, they prefer monthly distributions.

	There&#39;s also a group that would rather not see big fluctuations in that monthly distribution number; so they say, &quot;Well, I&#39;d rather know I&#39;m getting more of a balanced number four times a year than four large payments and eight quite a bit smaller payments.&quot;

	Those investors prefer quarterly distribution.

	BZ: What&#39;s the profile of the typical &quot;income&quot; investor?

	CM: Investors investing for income tend to be in the later stages of their life.

	For the first time, they&#39;re trying to live off investment income, because their whole life they had a steady paycheck.

	I think it&#39;s a growing demographic moving from a portfolio that&#39;s accumulating to a portfolio that&#39;s distributing. That&#39;s a huge adjustment.

	I think this provides opportunity for increased product development. At some point, there&#39;ll be more ETFs or funds that I call &quot;outcome&quot; ETFs, where they generate an outcome of certain payouts.

	BZ: More like an annuity?

	CM: Yeah, something where the goal is to generate 2 or 3 percent above inflation.

	Something like that.

	BZ: What are some red flags investors need to consider when investing for income through ETFs?

	CM: I think one trap or red flag would be whenever you get into income investing, you see people flock to the highest income ETFs that are out there.

	There is no free lunch in investing. When you&#39;re seeing higher income securities, ETF funds, generally there&#39;s probably some increased risk that you&#39;re taking on to get that income.

	On the other hand, high income isn&#39;t bad per se. It could be part of a diversified portfolio.

	A red flag is when somebody has most of their income being produced by one asset class, or one type of security. You really want to have diversification.

	Whether that&#39;s different types of bonds, bonds and stocks, different types of stock strategies, maybe everything from a dividend ETF to maybe a BuyWrite or an Option ETF.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/pressreleases/15/01/b5127473/yieldshares-high-income-etf-yyy-pays-december-distribution#ixzz3bRZGDMBi">YieldShares High Income ETF (YYY) Pays December Distribution</a></bzrelatedlink>

	BZ: Any other red flags for income ETF investors?

	CM: One other thing I&#39;d mention is that there are exchange-traded products out there.

	I call them exchange-traded products, not funds, because they&#39;re structured as exchange-traded notes, where you can buy 200 percent leveraged income products.

	You might be able to get twice the yield of a traditional ETF because they&#39;re employing leverage, but again that means that the NAV (net asset value) of the fund could go up by two times or go down by two times.

	Coming soon in <a href="http://www.benzinga.com/news/15/05/5549216/yieldshares-ceo-christian-magoon-on-investing-in-closed-end-funds-through-an-etf">part two</a>, Magoon discusses YieldShares unique High Income ETF and how it generates income through investing in closed end funds.

	At the time of this writing, <a href="https://plus.google.com/103366711655734156822?rel=author">Jim Probasco</a> had no position in any mentioned securities.
Image Credit: <a href="http://pixabay.com/en/wall-street-street-sign-roadworks-264381/">Public Domain</a>

YieldShares On How to Invest For Income Through ETFs

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