Atlas Financial Holdings Stock (OTC: AFHIF)

Atlas Financial Holdings (OTC:AFHIF) Stock, Quote.Headers.trade-ideas

Atlas Financial Holdings Inc is engaged in the business of underwriting commercial automobile insurance in the United States. It focuses on the light commercial automobile sector, which includes taxi cabs, non-emergency para-transit, limousine, livery, and business auto. Its automobile insurance products provide insurance coverage in three major areas: liability, accident benefits, and physical damage. The company distributes its insurance products through a network of retail independent agents.

ATLAS FINANCIAL HLDGS INC by Atlas Financial Holdings, Inc.

Atlas Financial Holdings Inc

First, there was the <a href="https://www.benzinga.com/news/24/09/40810729/after-starship-test-flight-is-pushed-back-to-november-spacex-says-it-takes-longer-to-do-paperwork-th">Magnificent 7</a> of publicly traded companies: Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</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>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Now, there is the Private Magnificent 7 of U.S. companies in the innovation space, according to private market platform Forge Global Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRGE#NYSE">FRGE</a>).
Forge has identified these startup &#8220;unicorns&#8221; &#8212; privately owned startups that are valued at $1 billion or more &#8212; as SpaceX, OpenAI, Stripe, Inc., Databricks, Fanatics, Inc., Scale AI and Rippling.
These companies, like their publicly traded counterparts, have shown &#8220;superior growth and remarkable resilience&#8221; during the Great Reset period of lowering valuations over the last 2.5 years, Forge said.
"While the post-2021 market downturn was undoubtedly a challenging period for the private market, the Private Magnificent 7 proved resilient," said Kelly Rodriques, CEO of Forge Global. 
Read Also: <a href="https://www.benzinga.com/news/24/09/40764804/whats-the-secret-openai-is-battling-to-keep-co-founders-files-confidential-heres-why">What&#8217;s The Secret? OpenAI Is Battling To Keep Co-Founder&#8217;s Files Confidential, Here&#8217;s Why</a>
"Forge believes these companies reflect the current and emerging themes of private investing and are driving the secular growth of the U.S. innovation economy."
The Private Magnificent 7 collectively account for $382 billion in implied valuation, according to latest Forge data on its website.
Though it is 30 times smaller in valuation than the public Magnificent 7 &#8212; which is roughly the equal to the size of Japan, Canada and U.K. stock markets combined &#8212; the Private Magnificent 7 has outperformed the listed companies by 16.9% in the past year, Forge said.
Over the last 12 months, the private Magnificent 7&#8217;s price performance rose 55.3% versus the public group of companies&#8217; price performance growing 38.4% in the same period.
How Much Are These Companies Worth?
Here is a rundown of the valuations for the Private Magnificent 7, according to latest Forge data:
<ul>
<li>SpaceX, an American spacecraft manufacturer founded in 2002 by billionaire Elon Musk, is worth $150 billion.</li>
<li>OpenAI, an American artificial-intelligence company co-founded in 2015 by Sam Altman and Greg Brockman, is valued at $80 billion.</li>
<li>Stripe, an Irish-American financial services and software as a service company founded in 2010 by Patrick and John Collison, is worth $50 billion.</li>
<li>Databricks, a U.S. AI company co-founded in 2013 by CEO Ali Ghodsi and executive chairman Ion Stoica, is worth $43.4 billion.</li>
<li>Fanatics, an American online sports retailer founded in 2011 by CEO Michael Rubin, is valued at $31 billion.</li>
<li>Scale AI, a U.S. AI company founded in 2016 by Alexandr Wang and Lucy Guo, is worth $13.8 billion.</li>
<li>Ripplng, a U.S. human resource mangement company founded in 2016 by Parker Conrad and Prasanna Sankar, holds a value of $13.5 billion.</li>
</ul>
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The Magnificent 7 'Unicorns': Startups That Dominate Private Investing

The utilities sector has emerged as the top-performing sector within the S&amp;P 500 <a href="https://www.benzinga.com/markets">so far in 2024</a>.
As of Sept. 11, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) has surged 22% year-to-date, outpacing all other sectors and even surpassing the technology sector – tracked by the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) – by 9 percentage points.
This marks a significant turnaround for utilities, which trailed tech by 40 percentage points in 2023.
<h3 class="wp-block-heading">Chart: Utilities Sector Outperforms S&amp;P 500, Tech Stocks In 2024</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="445" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11161618/image-89-1024x445.png" alt="" class="wp-image-543220" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11161618/image-89-1024x445.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11161618/image-89-300x130.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11161618/image-89-768x334.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11161618/image-89-1536x667.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11161618/image-89.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091124&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h3 class="wp-block-heading">The Drivers Behind The Utility Sector Surge</h3>
The robust performance of utilities stocks in 2024 has caught many investors by surprise, especially given the broader market&#8217;s focus on growth sectors like technology in recent years. 
&#8220;There is an undeniable defensive undertone here, as defensive stocks like utilities and consumer staples are leading the charge. The lack of momentum in the previously unstoppable &#8216;Magnificent 7&#8217; tech stocks could be signaling a shift in market sentiment,&#8221; analyst Michael Gayed.
This move toward defensive assets is particularly significant amid rising concerns over macroeconomic volatility and an increasingly unpredictable interest rate environment.
Bank of America recently raised its outlook for the utilities sector to Overweight, citing a combination of income and quality characteristics, which have become increasingly attractive as volatility rises.
&#8220;Client flows have suggested no love for the sector, but single stocks have begun to see inflows in recent weeks and ETF flows have begun to trend positively since the spring,&#8221; analysts at Bank of America highlighted.
&#8220;It's remarkable that the most defensive sector of the S&amp;P 500 has officially become the year&#8217;s top performer, despite the widespread consensus that the economy is doing well,&#8221; Otavio Costa, a macro strategist at Crescat Capital, said in a post on social media X.
<h3 class="wp-block-heading">Utilities Meet Rising Demand For AI-Driven Data Centers</h3>
Indeed, a critical factor boosting the utilities sector is the rising demand for electricity tied to the growth of AI-linked data centers. 
Carly Davenport, an analyst at Goldman Sachs, highlighted this trend in a note, saying, &#8220;Data center growth is starting to contribute meaningfully to power demand, and we've seen further positive revisions to the pipeline.&#8221;
Goldman Sachs estimates that data centers will be the largest driver of U.S. power demand growth, contributing around 90 basis points (bps) to the nation&#8217;s 2.4% power demand compound annual growth rate through 2030. 
This increase in demand is expected to lead to incremental capital investments in transmission and generation capacity, potentially driving further upside for utilities stocks over the next several years.
<h3 class="wp-block-heading">Top-Performing Utility Stocks in 2024</h3>
Several utility companies have experienced outsized gains this year, driven by strong earnings, strategic investments, and sectoral tailwinds. Here&#8217;s a look at the top-performing utility stocks year-to-date through Sept. 11:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (YTD)</td>
</tr>
<tr>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>107.95%</td>
</tr>
<tr>
<td>Constellation Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NYSE">CEG</a>)</td>
<td>60.22%</td>
</tr>
<tr>
<td>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>54.88%</td>
</tr>
<tr>
<td>NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>)</td>
<td>37.39%</td>
</tr>
<tr>
<td>Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>)</td>
<td>34.52%</td>
</tr>
<tr>
<td>American Electric Power Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NYSE">AEP</a>)</td>
<td>26.86%</td>
</tr>
<tr>
<td>The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>)</td>
<td>26.63%</td>
</tr>
</tbody>
</table>
</figure>
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This Under-The-Radar Defensive AI Sector Quietly Outperforms All Others, Despite Receiving 'No Love' From Investors

The presidential debate between Vice President Kamala Harris and Ex-President Donald Trump shifted the betting odds for the <a href="https://www.benzinga.com/topic/election-day">winner on Election Day</a>.
Here&#8217;s a look at who has the edge and how the markets have shifted in recent months.
What Happened: Harris has been performing well in recent election polls and her performance at<a href="https://www.benzinga.com/news/24/09/40806876/final-showdown-trump-and-harris-face-off-in-intense-debate-just-eight-weeks-before-election-day"> the presidential debate</a> against Trump could continue to show momentum with gains from undecided voters.
The betting odds are near even between the two candidates at Bet365, as reported by <a href="https://www.covers.com/politics/us-election-betting-odds">Covers</a>. Harris now has the edge at -125 with Trump ranking close behind at +100. These betting odds translate to around a 55.5% implied chance of Harris winning the election and implied odds of 50% of Trump winning the election — just to illustrate how close the election remains.
Harris saw her odds improve to -110 and take the status of the betting favorite after the presidential debate. News of global superstar Taylor Swift&#8216;s <a href="https://www.benzinga.com/general/entertainment/24/09/40815602/trump-shakes-off-taylor-swifts-harris-endorsement-in-2024-election-shell-probably-pay-a-pri">endorsing Harris</a> sent the vice president's odds to -125, making her a bigger favorite to win the election.
For comparison, Trump was the favorite at odds of -125 and Harris was listed at +100 <a href="https://www.benzinga.com/general/sports-betting/24/08/40238227/trump-vs-harris-presidential-odds-and-betting-markets-show-near-toss-up-but-this-candidate">back in August.</a>
BetMGM, which is a joint venture between Entain and MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), doesn't offer betting on political outcomes to U.S. customers, but its Ontario customers can bet on the 2024 election.
On BetMGM, Trump is listed as the favorite at -135, improving from odds of +100 before the debate, as <a href="https://x.com/johnewing/status/1833928497993277639">reported </a>by BetMGM's John Ewing. Trump has 70% of the money on him to win since the debate at BetMGM according to Ewing.
Prediction market&nbsp;Polymarket, which calls itself the world&#8217;s largest prediction market, offers betting on items in categories such as politics, sports, cryptocurrency, pop culture and more.
On Polymarket, users can deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network, or directly from a crypto account with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). In each betting market, the winning option pays out at $1.
The prediction market for the winner of the 2024 presidential election has attracted over $870 million in wagers on Polymarket. Here are the current <a href="https://polymarket.com/event/presidential-election-winner-2024">odds</a>:
<ul>
<li>Donald Trump: 50%</li>
<li>Kamala Harris: 48.5%</li>
</ul>
Trump has <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40818633/donald-trump-clings-on-to-1-5-election-odds-lead-on-polymarket-but-kamala-harris-has-alrea">mostly been in the lead </a>on Polymarket, with Harris remaining close and sometimes taking the lead. Trump held a lead of eight points ahead of the debate before the two candidates ended up tied after the debate and shortly after. The former president regained a lead on Polymarket Wednesday.
Similar to sportsbooks, the prediction market shows a near toss-up between the two candidates.
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</ul>
Why It&#8217;s Important:&nbsp;The new betting odds mark a shift in the odds from July. After&nbsp;<a href="https://www.benzinga.com/general/politics/24/07/39780356/trumps-2024-election-betting-odds-hit-record-high-after-assassination-attempt-payouts-for-ex-pre" target="_blank" rel="noreferrer noopener">an assassination attempt</a>&nbsp;on Trump in Pennsylvania, his odds hit -250 as a larger favorite with Biden listed at +500 and Harris at +800.
Following the<a href="https://www.benzinga.com/general/sports-betting/24/07/39868243/2024-election-betting-odds-joe-biden-has-8-chance-of-winning-according-to-sportsbooks-pred" target="_blank" rel="noreferrer noopener">&nbsp;first presidential debate</a>, Trump had odds of -175, with Harris at +400 topping the odds of Biden at +800 before his withdrawal from the race.
In&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam" target="_blank" rel="noreferrer noopener">late June</a>, Trump was listed with odds of -188 with Biden at +350 and Harris significantly behind at +2,200.
Keep in mind that back in January 2021, it was Harris who was the favorite to win the 2024 election with odds of +350 based on the plan that Biden would not run for re-election. Biden and Trump trailed Harris at the time at odds of +400 and +650, respectively.
Harris has closed the gap between the Democratic and Republican parties and her debate performance has now made it more likely that she wins the 2024 election.
A recent Morning Consult poll showed Harris with a<a href="https://www.benzinga.com/general/politics/24/09/40805945/harris-vs-trump-vice-president-holds-3-point-lead-ahead-of-presidential-debate-but-swing-states-"> three-point lead </a>over Trump among nationally registered voters who are likely to vote in the upcoming election.
Harris has also shown a lead among Independent voters and young voters in a recent poll, which could be two key voter groups that decide the 2024 election.
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</ul>
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Trump Vs. Harris: 2024 Election Betting Odds Show 'Love Story' For Vice President After Debate, Taylor Swift Endorsement

Coffee giant Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) is in the middle of pumpkin spice latte season, which has turned into a huge sales and marketing boom for the company and comes with new CEO Brian Niccol taking the helm and <a href="https://www.benzinga.com/news/24/09/40809142/brian-niccol-outlines-vision-to-reconnect-starbucks-with-community-coffeehouse-roots-on-his-2nd-day">outlining plans for growth.</a>
What Happened: Starbucks first launched the pumpkin spice latte in August 2003. The beverage is now a staple for the company's menu each fall and a reason why Starbucks is one of the<a href="https://www.benzinga.com/news/earnings/24/07/40051434/starbucks-q3-earnings-revenue-miss-eps-in-line-comps-down-3-action-plan-is-beginning-to-work"> largest coffee chains in the world.</a>
The pumpkin spice latte followed the success of the peppermint mocha – the first seasonal beverage from Starbucks that saw blockbuster status.
"We started with a huge brainstorm list and filled the wall with ideas,"&nbsp;Peter Dukes, who led the espresso beverage team for Starbucks at the time, <a href="https://stories.starbucks.com/stories/2023/psl-turns-20-the-story-behind-starbucks-pumpkin-spice-latte/">recalls</a>. "We probably had at least a hundred ideas up on the wall."
Ideas for flavors like chocolate, caramel, orange, cinnamon, and, of course, pumpkin were displayed on the wall. Dukes recalls that pumpkin stood out to potential customers for its &#8220;uniqueness,&#8221; leading to its further development.
For three months, the Starbucks team worked to incorporate pumpkin flavor into a beverage.
The pumpkin spice latte was launched in the fall of 2003 with a test run at 100 stores in the Washington D.C. and Vancouver regions.
"Within the first week of the market test, we knew we had a winner. I remember calling store managers on the phone to see how the beverage was doing, and we could hear the excitement in their voices."
In 2004, the pumpkin spice latte went national and rolled out to stores across the U.S. and Canada. Facebook and Twitter helped popularize the drink in later years.
"With the arrival of social media, it just took off on a whole new level," Dukes said.
While many other restaurant and beverage companies have launched pumpkin spice products of their own, Starbucks remains one of the companies often thought of when a person hears the phrase.
Starbucks launched its lineup of pumpkin spice products, including several new items, on Aug. 22, 2024. This marked one of its earliest releases of the products, a date that to some represents the unofficial start of fall.
Foot traffic at Starbucks locations was up 24.1% on Thursday, Aug. 22 when the pumpkin spice latte returned, compared to the previous eight Thursdays, as reported by <a href="https://www.placer.ai/blog/pumpkin-spice-works-its-magic-once-again">Placer.ai.</a>
Traffic was also up by double-digit percentages in the following days after launch compared to their respective weekdays in the previous eight weeks.
"Starbucks' successful launch shows that even as consumers count their pennies, people are finding room in their budgets for sweet, cozy indulgences that don't break the bank," Placer.ai said.
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Investing $1,000 in Starbucks Stock:&nbsp;Investors who saw the test launch of this new Starbucks product and decided to buy Starbucks shares would have been pleasantly rewarded.
An investor could have purchased 132.45 shares of Starbucks on Oct. 10, 2003, based on a split adjusted price of $7.55.
The $1,000 investment would be worth $12,809.24 today, based on a price of $96.71 for Starbucks stock at the time of writing.
This represents a hypothetical return of 1,180.9%.
For comparison, the same $1,000 invested in the SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 Index, would be worth $5,278.27 today.
This represents a return of 427.8% over the same time period, which means an investment in Starbucks based off the pumpkin spice latte launch would have outperformed the broader stock market by a wide margin.
It truly may be pumpkin spice and everything nice for investors in Starbucks over the years.
"Nobody knew at the beginning what it would grow to be," Dukes said of the pumpkin spice latte. While he was talking of the Starbucks drink, the quote may apply to Starbucks stock as well.
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This article was previously published by Benzinga and has been updated.

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The <a href="https://www.benzinga.com/topic/multidisciplinary-association-for-psychedelic-studies">Multidisciplinary Association for Psychedelic Studies (MAPS)</a> is pivoting its focus to state-level initiatives following the U.S. Food and Drug Administration's (FDA) recent <a href="https://www.benzinga.com/markets/cannabis/24/08/40300943/fda-rejects-mdma-for-ptsd-treatment-calls-for-more-research-on-psychedelic-therapy">denial of MDMA-assisted therapy</a>. As recently <a href="https://doubleblindmag.com/maps-future-of-mdma/">reported</a> by Double Blind, MAPS gathered a panel of experts to discuss what comes next after the federal setback. This shift signals a new chapter in MAPS&#8217; advocacy efforts, aiming to legalize psychedelic therapy through state-led ballot measures rather than waiting for federal approval.
<h3 class="wp-block-heading">Shifting Focus</h3>
The press conference followed the <a href="https://reaganudall.org/news-and-events/events/advancing-treatments-post-traumatic-stress-disorder">FDA and Reagan-Udall Foundation's public meeting on PTSD</a>, which included discussions on psychedelic therapy. Among the expert panel were well-known figures such as Dr. Bessel van der Kolk, author of The Body Keeps the Score; Michael Mithoefer, a principal investigator in MAPS' FDA trials; US Army veteran Darron Smith and Dave Rabin, host of The Psychedelic Report podcast. The discussion, moderated by MAPS director of communications Betty Aldworth, shed light on MAPS' next steps.
Aldworth expressed disappointment over the <a href="https://www.benzinga.com/markets/cannabis/24/08/40300943/fda-rejects-mdma-for-ptsd-treatment-calls-for-more-research-on-psychedelic-therapy">FDA&#8217;s decision</a> to deny Lykos Therapeutics&#8217; Novel Drug Application for MDMA-assisted therapy. "It's heartbreaking," Aldworth stated. However, she emphasized that the organization would now direct its attention to states like Colorado and Oregon, which have already passed laws legalizing psychedelic therapy. With Massachusetts <a href="https://www.benzinga.com/markets/cannabis/24/08/40447902/psychedelics-and-mental-health-fda-stalls-but-states-forge-ahead">voting on psychedelics legalization</a> in November, Aldworth noted, "Voters in those states&#8230; have decided it is time to move beyond the FDA process that is currently failing many patients living with PTSD."
<h3 class="wp-block-heading">Expert Voices On State-Led Approaches</h3>
Dr. van der Kolk echoed the sentiment, stating that "the next step is for the FDA to get overruled by state law." However, he also expressed cautious optimism regarding Massachusetts, warning that it might be too early to count on the bill's passage. Van der Kolk criticized the <a href="https://www.benzinga.com/topic/food-and-drug-administration">FDA</a> panel&#8217;s scientific understanding of psychedelics, saying, "The FDA panel was scientifically out to lunch."
Smith pointed out that efforts are also underway in North Carolina, where lawmakers have <a href="https://www.benzinga.com/markets/cannabis/23/05/32541361/psychedelics-reform-update-mis-task-force-ncs-5m-fund-cas-fed-follow-up-me-tables-proposal">advanced a bill to fund research</a> into psilocybin and MDMA. He also mentioned <a href="https://www.benzinga.com/markets/cannabis/24/03/37925833/utah-hospitals-will-soon-provide-psilocybin-and-mdma-therapy-for-mental-health-conditions">Utah's pilot program</a> that allows doctors in hospital settings to administer psychedelic treatments. "Given that the Mormon church runs Utah's legislature, that's very good," Smith said.
<h3 class="wp-block-heading">Broad Advocacy For Psychedelic Therapies</h3>
MAPS's shift aligns with statements made by other advocacy organizations. The Healing Advocacy Fund, a nonprofit championing state-regulated psychedelic programs, released a <a href="https://healingadvocacyfund.org/news/statement-on-fdas-failure-to-approve-mdma-assisted-therapy-for-post-traumatic-stress">statement</a> on August 9 calling for state-level leadership in the absence of federal action. "With an undeniable mental health crisis&#8230; we can't afford to wait for an ineffective federal bureaucracy to catch up. States must take the lead," the organization stated.
The panel closed with a reminder that underground <a href="https://www.benzinga.com/topic/mdma-assisted-therapy">MDMA therapy</a> is already occurring, with many individuals accessing the treatment informally. As Smith put it, "The cat's out of the bag," stressing the need for community-based efforts to expand access to these therapies, particularly for people of color. Van der Kolk agreed, emphasizing the importance of formalizing the process, saying, "We can only learn when it goes overground, and we can study and research it."
Cover image made with AI

Cannabis

Psychedelics

Health Care

Multidisciplinary Association For Psychedelic Studies Eyes State-Level Legalization After FDA Denial Of MDMA Therapy

Based on the new lease agreements already in place, MPT expects to receive aggregate annualized cash rental payments of approximately&nbsp;$160 million&nbsp;on this portfolio&#39;s approximate&nbsp;$2.0 billion&nbsp;lease base upon stabilization in the&nbsp;fourth quarter&nbsp;of 2026, including the impact of each lease&#39;s contractual minimum annual escalator.
This represents approximately&nbsp;95%&nbsp;of the cash rent Steward would have contractually owed for the same assets in the&nbsp;fourth quarter&nbsp;of 2026, based on minimum rent escalators. The weighted average initial term of the leases is approximately 18 years.

Medical Properties Trust Reaches Global Settlement Agreement Restoring Its Control Over Its Real Estate, Severs Its Relationship With Steward Health Care

YORVIPATH is a prodrug of parathyroid hormone (PTH [1-34]), administered once daily, designed to provide continuous exposure to released PTH over the 24-hour dosing period.
Hypoparathyroidism is a rare endocrine disease caused by insufficient levels of parathyroid hormone that impact multiple organs and affects an estimated 70,000 to 90,000 people in&nbsp;the United States.

ASND

Ascendis Pharma Says FDA Granted Orphan Drug Exclusivity To YORVIPATH For Treatment Of Hypoparathyroidism In Adults

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is losing its mojo in China&#8217;s crucial market as its domestic players gain ground. The uncertainty regarding the availability of the Apple Intelligence feature in the country is an additional downer.
The iPhone maker&#8217;s market share in China plunged to sixth place from third in the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-" rel="noreferrer noopener">second quarter of 2024</a>. According to Canalys, Apple had a market share of 14%, down by two basis points year-on-year.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/40748185/chinas-markets-still-manage-to-get-nvidia-ai-chips-via-smuggling-report" rel="noreferrer noopener">China&#8217;s Markets Still Manage To Get Nvidia AI Chips Via Smuggling: Report</a>
China&#8217;s smartphone shipment grew 10% year-on-year to over 70 million units in the second quarter. Vivo emerged as the number one with a 19% market share by shipping <a href="https://www.canalys.com/newsroom/china-smartphone-market-Q2-2024" target="_blank" rel="noreferrer noopener">13.1 million units</a>, up by 15% year-on-year, driven by solid performance in offline channels and robust online sales during the Chinese e-commerce festival.
OPPO remained in second position with a 16% market share after shipping 11.3 million units. HONOR came third with a market share of 15%, backed by shipments of 10.7 million units, implying a 4% growth year-on-year. 
Huawei Technologies Co bagged the fourth position with a 15% market share supported by shipments of 10.6 million units, which grew by 41% year-on-year. Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) came fifth with a market share of 14%, backed by a 17% year-on-year shipment increase to 10 million units.
Canalys attributed the local brands&#8217; success to the early significant discounts and promotions backed by offline channel enhancements.
The local brands continue to tap the Chinese premium smartphone market by integrating generative artificial intelligence, and their deep collaboration with regional supply chains is a significant advantage, Canalys noted.
Canalys also flagged Apple&#8217;s struggle to maintain adequate inventory levels, keep retail prices in check, and maintain the margins of channel partners.
Huawei&#8217;s $2,800 Mate XT trifold phone <a target="_blank" href="https://www.benzinga.com/government/24/09/40793314/huawei-targets-iphones-premium-market-with-2-800-foldable-mate-xt-launch-report" rel="noreferrer noopener">launching on September 20</a> coincides with the release of the iPhone 16 models. Apple&#8217;s iPhone 16 Pro Max&nbsp;starts at $1,199, while the standard iPhone 16 is $799.
International Data Corporation (IDC)&nbsp;expects global smartphone shipments to <a target="_blank" href="https://www.benzinga.com/news/24/08/40600289/apples-market-share-poised-to-gain-genai-and-iphone-16-lead-the-way-idc" rel="noreferrer noopener">increase by 5.8%</a> to 1.23 billion units in 2024, marking a recovery with generative AI posing as a significant catalyst.
However, due to higher competition in China, Android growth is expected to beat Apple iOS. As per IDC, Apple&#8217;s success hinges on its capability to forge&nbsp;local AI partnerships&nbsp;in China.
Ivan Lam, senior analyst at Counterpoint Research <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3277043/iphone-16s-lack-apple-intelligence-china-leaves-market-open-rivals-huawei" rel="noreferrer noopener">told</a> SCMP that iPhone market share in the premium segment will likely decline as Huawei and other Chinese brands gain traction.
Apple has not yet revealed its plans for AI integration in China, which could place it at a disadvantage in the race to implement AI, SCMP cites Canalys analyst Lucas Zhong. However, Lam noted that pent-up demand for iPhone upgrades may still boost sales in China.
Price Action: AAPL stock closed at $222.66 on Wednesday.
image via Shutterstock

Emerging Markets

Media

XIACF

XIACY

China Is Eating Apple's Lunch: Where Smartphone Maker Ranks Vs Asian Competitors

A group of cannabis companies filed an appeal challenging a <a href="https://www.benzinga.com/markets/cannabis/24/07/39586847/federal-court-dismisses-marijuana-companies-lawsuit-against-government-prohibition">federal court decision</a> to uphold cannabis prohibition under the U.S. Controlled Substances Act (CSA).
This appeal, led by renowned attorney David Boies, contests the dismissal of a <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling">high profile lawsuit</a> aimed at blocking federal enforcement of cannabis prohibition against state-regulated businesses.
<h3 class="wp-block-heading">Procedure And Appeal</h3>
The original case, Canna Provisions, Inc. v. Merrick B. Garland, was brought by industry heavyweights including Verano Holdings Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>), Canna Provisions and Wiseacre Farm among others. The plaintiffs argued that federal cannabis laws are outdated and unconstitutional, especially with 38 states now having legalized some form of marijuana. They contended that Congress&#8217;s original goal of eradicating marijuana through the CSA no longer applies in the modern regulatory landscape.
However, the U.S. District Court in Massachusetts dismissed the case, relying on a Supreme Court's 2005 decision, which upheld federal authority over intrastate marijuana regulation. Still, the court acknowledged the plaintiffs&#8217; compelling arguments. 
Next step is a response from the defendant in the case <a href="https://www.benzinga.com/topic/merrick-garland">Attorney General Merrick Garland</a>. His response will outline the government's position on the appeal and whether they believe the district court's dismissal was correct. After both sides present their arguments (the plaintiffs and the government), the U.S. Court of Appeals will decide whether to uphold the dismissal or overturn it.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40218753/high-times-hit-with-5m-class-action-lawsuit-over-unfulfilled-stock-deals">High Times Hit With $5M Class Action Lawsuit Over Unfulfilled Stock Deals</a>
<h3 class="wp-block-heading">Boies Argument Against Prohibition</h3>
On September 10, the plaintiffs formally <a href="https://s3.documentcloud.org/documents/25116548/2024-09-10-000-brief-tendered-by-appellants-canna-provisions-inc-gyasi.pdf?utm_source=www.cultivated.news&amp;utm_medium=newsletter&amp;utm_campaign=dea-suffers-its-first-post-chevron-blow-on-hemp&amp;_bhlid=26c269590737c5236a94fd0ca67abbbd34d726a4">appealed</a> the ruling in the First Circuit court. 
&#8220;Thirty-eight states have now legalized and regulate marijuana within their borders. The district court acknowledged that Plaintiffs-Appellants &#8216;alleged persuasive reasons for a reexamination of&#8217; the CSA but ruled it was bound by precedent.&#8221;, <a href="https://s3.documentcloud.org/documents/25116548/2024-09-10-000-brief-tendered-by-appellants-canna-provisions-inc-gyasi.pdf?utm_source=www.cultivated.news&amp;utm_medium=newsletter&amp;utm_campaign=dea-suffers-its-first-post-chevron-blow-on-hemp&amp;_bhlid=26c269590737c5236a94fd0ca67abbbd34d726a4">reads</a> the appellant&#8217;s presentation.
<a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling">Boies</a>, as head of Boies Schiller Flexner LLP, has represented clients such as the U.S. Department of Justice and Al Gore.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
In this case, Boies&#8217; main argument is that the federal government's enforcement of marijuana prohibition is no longer necessary or justified under the Commerce Clause.
The appeal also raises a Fifth Amendment claim, asserting that cannabis cultivation and use are "deeply rooted in the nation's history and tradition," making the CSA's prohibition unconstitutional. The plaintiffs&#8217; legal team further suggests that the landscape has changed dramatically since the Raich ruling, with bipartisan calls for marijuana reform growing.
Garland is expected to file a response by October 10, 2024. After the Court makes a decision and depending on the outcome, either side could appeal again, potentially bringing the case before the U.S. Supreme Court.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/07/39586847/federal-court-dismisses-marijuana-companies-lawsuit-against-government-prohibition">Federal Court Dismisses Marijuana Companies&#8217; Lawsuit Against Government Prohibition</a>
Cover: AI generated image

Government

Regulations

Legal

VRNOF

Cannabis Companies Fight Federal Court Dismissal On Prohibition Lawsuit, Heading To Next Legal Stop

KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) has outperformed the market over the past 10 years by 7.25% on an annualized basis producing an average annual return of 17.95%. Currently, KKR has a market capitalization of $104.98 billion. 
Buying $1000 In KKR: If an investor had bought $1000 of KKR stock 10 years ago, it would be worth $5,229.44 today based on a price of $118.29 for KKR at the time of writing.
<h3>KKR's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726090254_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much $1000 Invested In KKR 10 Years Ago Would Be Worth Today

NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) has outperformed the market over the past 10 years by 1.93% on an annualized basis producing an average annual return of 12.63%. Currently, NXP Semiconductors has a market capitalization of $58.74 billion. 
Buying $1000 In NXPI: If an investor had bought $1000 of NXPI stock 10 years ago, it would be worth $3,367.42 today based on a price of $230.59 for NXPI at the time of writing.
<h3>NXP Semiconductors's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726090249_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

NXPI

Here's How Much You Would Have Made Owning NXP Semiconductors Stock In The Last 10 Years

Papa &amp; Barkley, a well-known <a href="http://benzingna.com/cannabis">cannabis</a> wellness brand in California, has merged into Mammoth Distribution, one of the state's leading distributors. The companies announced the merger Wednesday in a joint press release. This marks a significant consolidation within California's <a href="http://benzinga.com/topic/california-cannabis">cannabis industry</a>, promising a focus on quality, sustainability and expanded national reach.
<h3 class="wp-block-heading">Company Leaders Highlight Merger Benefits</h3>
Nik Patel, CEO and co-founder of Mammoth Distribution, highlighted the strategic benefits of the merger, stating, "Having Heavy Hitters, Papa &amp; Barkley, and Almora working together as one team allows us to make better products, cut our CO2 emissions by sharing trucks and deliveries, and strengthen our retail partnerships."
<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>
"Our key performance indicator has always been ‘lives changed,' and joining the talented team at Mammoth Distribution will further that mission," said Adam Grossman, founder of Papa &amp; Barkley.
"We look forward to expanding Papa &amp; Barkley nationally, reaching more people who medically need our all-natural solventless cannabis products, made with the highest care and quality standards." 
Scott Gordon, a board member at Papa &amp; Barkley, expressed confidence in the decision. &#8220;After much consideration and discussions with potential partners, we chose Mammoth as the best home for Papa &amp; Barkley. Mammoth's strong commitment to its customers, employees and the quality of its products is exceptional.&#8221;
<h3 class="wp-block-heading">Mammoth Distribution Eyes Multi-State Growth</h3>
Currently operating in California and <a href="http://benzinga.com/topic/new-york-cannabis">New York</a>, Mammoth Distribution plans to extend its footprint across other states in the coming year and remains open to additional mergers that align with its cultural and quality standards.
Read Next:
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</ul>

California Cannabis Brands Papa & Barkley And Mammoth Distribution Announce Merger, Promising National Expansion

In addition, the Company intends to grant the underwriter a 30-day option to purchase up to an additional&nbsp;15%&nbsp;of the gross proceeds of its Class A common stock at the public offering price per share.
Owlet intends to use the net proceeds from the proposed public offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

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Owlet Intends To Offer And Sell Its Class A Common Stock In Public Offering; No Terms Disclosed

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Viasat Subsidiaries Upsizes And Prices Offering Of $1.975B Of Its 9.000% Senior Secured Notes Due 2029

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CN Energy Group Gets Nasdaq Notice That It Is Currently Not In Compliance With Certain Requirements Under Relevant Listing Rules

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Metal Sky Star Acquisition Reveals Receipt Of Additional Determination From Nasdaq On Delayed Filing And Public Holders Deficiencies

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Blue Hat Interactive Receives Nasdaq Notification Letter About Non-Compliance With Minimum Bid Price Requirement

WIIM

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NETGEAR shares are trading higher after the company disclosed a settlement agreement with TP-Link Systems and raised its Q3 revenue guidance.

In a bipartisan effort, two Florida state senators have come together to promote the Florida cannabis legalization initiative, known as <a href="https://drupal-cloudfront.benzinga.com/topic/amendment-3">Amendment 3</a> that will appear on the ballot in the <a href="https://www.benzinga.com/markets/cannabis/24/03/37992749/florida-supreme-court-shelves-cannabis-ballot-proposal-with-no-explanation-or-provisions-as-apri" target="_blank" rel="noreferrer noopener">November 2024 election</a>. Republican Sen. <a href="https://www.benzinga.com/markets/cannabis/24/08/40441169/florida-senator-proposes-outdoor-smoking-ban-if-weed-is-legalized-jacksonville-sheriff-dead-set-">Joe Gruters</a> and Democratic Sen. Shevrin Jones are featured in a new ad sponsored by the <a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a> campaign.
Gruters, a former chair of the Florida Republican Party, and Jones, a prominent Democratic senator, acknowledge that they "don't agree on much—hardly anything" and would each be voting for their respective party's presidential nominee, but legalizing marijuana is an issue they can both get behind.
<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">Florida State Senator and Miami-Dade DEC Chairman <a href="https://twitter.com/ShevrinJones?ref_src=twsrc%5Etfw">@ShevrinJones</a> and State Senator and Former Republican Party of Florida Chair <a href="https://twitter.com/JoeGruters?ref_src=twsrc%5Etfw">@JoeGruters</a> may not agree on much, but they DO agree that safe, regulated marijuana is the right call for Florida. <a href="https://twitter.com/hashtag/YesOn3?src=hash&amp;ref_src=twsrc%5Etfw">#YesOn3</a> <a href="https://t.co/vRWJXzZhfu">pic.twitter.com/vRWJXzZhfu</a>
&mdash; Smart &amp; Safe Florida (@SmartandSafeFl) <a href="https://twitter.com/SmartandSafeFl/status/1833837189274206324?ref_src=twsrc%5Etfw">September 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/09/40798916/desantis-vs-trump-over-florida-cannabis-legalization-guess-whos-winning"> DeSantis Vs. Trump Over Florida Cannabis Legalization: Guess Who&#8217;s Winning</a>
Gruters <a href="https://www.benzinga.com/markets/cannabis/24/07/40085870/ron-desantis-and-gop-stalwart-feud-over-cannabis-legalization-trump-floridas-top-cops-also-weigh" target="_blank" rel="noreferrer noopener">came out in favor</a>&nbsp;of cannabis legalization over the summer and Jones stressed the social justice aspects of the measure. He says legalizing cannabis would bring justice to marginalized communities that have been, still are, disproportionately affected by marijuana prohibition laws.
The amendment, if passed, would also channel tax revenue from legal marijuana sales into critical areas such as public education and law enforcement, a point both senators made. 
Meanwhile, Gov. <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a>, who <a href="https://www.benzinga.com/markets/cannabis/24/07/39827912/ron-desantis-blasts-floridas-cannabis-legalization-ballot-at-rnc-it-would-allow-80-joints-a-day-" target="_blank" rel="noreferrer noopener">vehemently opposes</a> the legalization measure <a href="https://www.benzinga.com/markets/cannabis/24/09/40798916/desantis-vs-trump-over-florida-cannabis-legalization-guess-whos-winning">said recently</a> that the cannabis legalization initiative in Florida is the result of &#8220;one weed company,&#8221; the medical marijuana company Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), which he called a &#8220;de facto monopoly" and a "weed cartel."
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h2 class="wp-block-heading">Money To Be Made</h2>
At a roundtable in mid-June week in Tampa, Safe &amp; Smart<a href="https://www.benzinga.com/markets/cannabis/24/06/39346531/desantis-cant-get-past-the-odor-of-weed-to-smell-the-flowers-specifically-430m-annually-in-canna"> quoted economists</a> who estimate that legalizing marijuana could generate between $195 million and $431 million annually in sales tax revenue, providing a significant boost to the state's economy. 
Florida isn't alone in this potential windfall—other <a href="https://www.benzinga.com/markets/cannabis/24/05/38712820/legal-cannabis-states-raked-in-20b-since-2014-peaking-at-4b-in-2023-new-report-shows">states with legal marijuana </a>are raking in around $20 billion in tax revenue, according to legalization advocates. However, this appears insufficient to sway DeSantis.
Now Read:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40383353/ron-desantis-slams-trulieves-alleged-canadian-ties-in-his-battle-against-cannabis-legalization">Ron DeSantis Slams Trulieve&#8217;s Alleged &#8216;Canadian&#8217; Ties In His Battle Against Cannabis Legalization</a></li>
</ul>
Image generated using artificial intelligence via Midjourney.

TCNNF

GOP And Democratic State Senators Back Florida's Cannabis Legalization Initiative In New Ad As Ballot Vote Looms

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