America Movil Stock (OTC:AMXOF), Trade Ideas

America Movil is the largest telecom carrier in Latin America, serving about 285 million wireless customers across the region. It also provides fixed-line phone, internet access, and television services in most of the countries it serves. Mexico is the firm's largest market, providing about 35% of service revenue. Movil dominates the Mexican wireless market with more than 60% customer share and also serves about half of fixed-line internet access customers in the country. Brazil, its second most important market, provides about 20% of service revenue. Movil sold its low-margin wireless resale business in the U.S. to Verizon in 2021 and now owns a 1.4% stake in the U.S. telecom giant. The firm also holds a 58% stake in Telekom Austria and a 15% stake in Dutch carrier KPN.

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America Movil SAB de CV

Cassidy Hutchinson, a former aide to Donald Trump,&nbsp;publicly expressed her disapproval of the ex-president following the recent indictments of <a href="https://www.benzinga.com/news/24/03/38012721/marjorie-taylor-greene-claims-she-has-proof-that-votes-for-donald-trump-in-2020-were-lost-in-the-mai">his associates in the Arizona fake electors scheme.</a>
What Happened: On Friday, Hutchinson&nbsp;voiced her concerns in an <a href="https://edition.cnn.com/2024/04/24/politics/video/cassidy-hutchinson-trump-attacks-src-digvid">interview </a>with CNN.&nbsp;She previously served as a top aide to Trump&#39;s White House Chief of Staff&nbsp;Mark Meadows, who&nbsp;provided&nbsp;testimony to the January 6 committee.
Hutchinson accused Trump of sacrificing those loyal to him for his gain. She also criticized his disregard for democratic institutions and warned of the potential risks for those who believe they are entering public service for the greater good.
News of the indictment of Meadows and six other associates &mdash;&nbsp;Rudy Giuliani, Jenna Ellis, John Eastman, Christina Bobb, Boris Epshteyn&nbsp;and Mike Roman&nbsp;&mdash;&nbsp;in Arizona had just been released. Hutchinson expressed her disappointment, particularly with her former boss&nbsp;Meadows.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38133891/donald-trump-says-it-would-be-a-great-honor-if-he-were-jailed-for-breaching-gag-order-i-will-gladly" target="_blank">Donald Trump Says It Would Be A &#39;Great Honor&#39; If He Were Jailed For Breaching Gag Order: &#39;I Will Gladly Become A Modern Day Nelson Mandela&#39;</a>
Talking about Meadows&nbsp;getting indicted for&nbsp;the second time,&nbsp;Hutchinson said, &quot;It&rsquo;s really sad. I was really close with Mark.&nbsp;If we look at how Trump has conducted himself, through his business career, and also his political career, I almost relate it to just bodies around him, that he takes out everybody who is loyal to him, because it&rsquo;s all about his personal gain, and what he can gain from those people.&quot;
She emphasized the importance of the public understanding Trump&#39;s true character, especially considering his potential run for the presidency again.
&quot;Donald Trump is inherently about himself. That&rsquo;s why America is in the position that it is today&nbsp;because he did not want to give up the presidency. And he&rsquo;s now running again. He&rsquo;s been indicted in multiple jurisdictions,&quot; she added.&nbsp; 
Why It Matters: This is not the first time Trump has faced&nbsp;scrutiny. The former president&nbsp;<a href="http://www.benzinga.com/news/24/04/38238321/donald-trump-attempts-to-rally-supporters-ahead-of-first-criminal-trial-72-hours-until-all-hell-brea">is facing a criminal trial over</a> alleged hush money payments made during his 2016 presidential campaign. During the first week, the prosecution revealed Trump&#39;s alleged efforts to suppress damaging information about his personal life.
Trump&#39;s legal troubles have divided public opinion. A YouGov poll revealed <a href="http://www.benzinga.com/news/24/02/36924973/trumped-up-charges-poll-reveals-what-most-americans-think-of-charges-against-embattled-ex-president">a clear divide between Republicans</a> and Democrats, with many Republicans skeptical about the fairness of the cases against Trump.
These recent indictments and Hutchinson&#39;s comments add to the growing concerns about Trump&#39;s character and his potential return to politics.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38238321/donald-trump-attempts-to-rally-supporters-ahead-of-first-criminal-trial-72-hours-until-all-hell-brea">Donald Trump Attempts To Rally Supporters Ahead Of First Criminal Trial: &#39;72 Hours Until All Hell Breaks Loose!&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Politics

General

Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of  'Bodies Around Him': 'He Takes Out Everybody Who Is Loyal To Him'

Elon Musk&nbsp;dismissed theories of extraterrestrial existence, citing his experience with SpaceX&#39;s satellite operations.
What Happened: Responding to a tweet on Tuesday, Elon Musk, the CEO of SpaceX, rejected the idea of alien existence.
He stated, &quot;I have seen no evidence of aliens. If I did, I would &#128175; post about it on &#120143; instantly!&quot;
Musk further substantiated his claim by referring to SpaceX&#39;s extensive satellite network. &quot;SpaceX has almost 6000 satellites in orbit and not once have we had to maneuver around aliens. &quot;
<blockquote class="twitter-tweet">I have seen no evidence of aliens. If I did, I would &#128175; post about it on &#120143; instantly!
SpaceX has almost 6000 satellites in orbit and not once have we had to maneuver around aliens.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1784043082872402161?ref_src=twsrc%5Etfw">April 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The tweet was in response to a video suggesting an unidentified flying object (UFO) near the missing MH370 flight. The video claimed the object was &quot;flying so close to the plane that it indicates an operation.&quot;
The Boeing 777-200ER involved, known as Malaysia Airlines flight MH370, mysteriously vanished on March 8, 2014, en route from Kuala Lumpur to Beijing.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38477052/elon-musk-overtakes-zuckerberg-as-worlds-third-richest-amid-stock-market-shake-up">Elon Musk Overtakes Mark Zuckerberg As World&#39;s Third-Richest Amid Stock Market Shake-Up</a>
Despite lost&nbsp;contact with civilian radars, military tracking continued for an hour as the plane deviated over the Malay Peninsula and the Andaman Sea.
Why It Matters: Musk&#39;s comments come amid ongoing debates and speculations about the existence of extraterrestrial life.&nbsp;
Under Musk&#39;s leadership, SpaceX has launched nearly 6,000 satellites into orbit. The absence of any alien encounter during these operations strengthens Musk&#39;s argument against the existence of extraterrestrial life.
While Musk&#39;s comments may not end the debate, they add a valuable viewpoint to the ongoing discourse on extraterrestrial life.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38348400/several-companies-under-elon-musk-billed-each-other-approximately-9-million-in-expenses-raising-seri">Several Companies Under Elon Musk Billed Each Other Approximately $9 Million In Expenses, Raising Serious Questions About Corporate Governance</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Tech

Elon Musk Dismisses Alien Theories Surrounding Mysterious MH370 Incident: 'I Have Seen No Evidence Of Aliens'

EHang Holdings Limited (&ldquo;EHang&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>), the world&rsquo;s leading Urban Air Mobility (&ldquo;UAM&rdquo;) technology platform company, announced that it has established a strategic partnership with ultra-fast charging-focused Guangzhou Greater Bay Technology Co., Ltd. (&ldquo;Greater Bay Technology&rdquo; or &ldquo;GBT&rdquo;) at the 16th Chongqing International Battery Technology Exchange Conference/Exhibition for the research and development of the world&rsquo;s first Ultra-Fast Charging (&ldquo;UFC&rdquo;)/eXtreme Fast Charging (&ldquo;XFC&rdquo;) battery solutions for EHang&rsquo;s electric vertical takeoff and landing (&ldquo;eVTOL&rdquo;) aircraft. The partnership is to promote the research and development as well as industrialization of eVTOL power system components and modules in the UAM sector, laying an ecological foundation for commercial operations of the low-altitude economy.
&nbsp;

EHang and Greater Bay Technology Formed Strategic Partnership to Jointly Develop World's First Ultra-Fast/eXtreme Fast Charging Batteries for eVTOL

A recent forecast by&nbsp;cryptocurrency strategist Altcoin Sherpa suggests an impressive surge in the value of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>).
According to him, the digital asset is expected to climb by a whopping 267% by year&#39;s end, potentially breaking the $500 mark.
Altcoin Sherpa said acquiring shares of Solana at current levels could be highly advantageous, as he predicts substantial future gains.&nbsp;
&quot;SOL: averaging into SOL is never a bad idea in my opinion. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet),&quot; he shared on X, formerly known as Twitter.
<blockquote class="twitter-tweet"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>: Averaging into SOL is never a bad idea IMO. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet) <a href="https://t.co/eCTNfYDMBK">pic.twitter.com/eCTNfYDMBK</a>
&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1783912486229430588?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The strategist also highlighted potential opportunities in two AI-focused cryptocurrencies, Fetch.ai (FET) and Render (RNDR), suggesting that these could see dips to more attractive buying levels.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573802/forget-dogecoin-and-shiba-inu-this-meme-coin-has-surged-nearly-70-in-just-24-hours">Forget Dogecoin And Shiba Inu &mdash; This Meme Coin Has Surged Nearly 70% In Just 24 Hours</a>
<blockquote class="twitter-tweet">Prob going to be some good AI coin deals here in the coming weeks/months if btc continues to have the current price action of bleeding/chopping. Stuff like <a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FET</a> <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RNDR</a> are going to be great buys imo. Start averaging in at the .50 fib and go down to .618 IMO. <a href="https://t.co/aaaRw1icdD">pic.twitter.com/aaaRw1icdD</a>
&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1783907000427946308?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>&quot;Probably going to be some good AI coin deals here in the coming weeks/months if BTC continues to have the current price action of bleeding/chopping. Stuff like FET, RNDR are going to be great buys in my opinion. Start averaging in at the .50 fib and go down to .618 in my opinion,&quot; the analyst shared.&nbsp;
Fetch.ai and Render are both anticipated to rebound and rally after short-term pullbacks linked to current market volatility.
Currently, Solana is trading at $136, experiencing a slight decrease of 5.54% over the past day. Similarly, Fetch.ai and Render are trading at $2.11 and $7.95, respectively, declining over 7%.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37577098/bitcoins-rally-sparks-renewed-interest-in-cryptocurrencies-should-you-invest-in-it-now">Bitcoin&#39;s Rally Sparks Renewed Interest In Cryptocurrencies &mdash; Should You Invest In It Now?</a>
Photo: Shutterstock

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

Cryptocurrency

Markets

$SOL

Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And Its Not Dogecoin Or Shiba Inu

Bob Bakish, the current CEO of Paramount Global, may be facing termination as the company<a href="https://www.benzinga.com/general/entertainment/24/04/38202664/paramount-directors-exit-as-skydance-merger-talks-continue-report"> continues its merger talks with Skydance Media.</a>
What Happened: A recent CNBC <a href="https://www.cnbc.com/2024/04/27/paramount-ceo-bob-bakish-could-be-out-as-soon-as-monday-as-skydance-merger-talks-continue.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard">report </a>suggests that the board of Paramount Global (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>) is contemplating the dismissal of&nbsp;Bakish, which will possibly come&nbsp;as early as Monday.
In the event of Bakish&#39;s departure, the company is expected to rely on division heads while continuing merger discussions with Skydance Media.
Paramount Global has set up a special committee to explore the potential merger. The two companies are in exclusive talks until May 3, though this period may be extended.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38457749/former-democratic-senator-says-bidens-new-capital-gains-tax-proposal-aimed-at-billi?itm_source=parsely-api" target="_blank">Former Democratic Senator Says Biden&#39;s New Capital Gains Tax Proposal Aimed At Billionaires Has &#39;No Chanc</a>
Shari Redstone, Paramount Global&#39;s controlling shareholder, has reportedly lost faith in Bakish. Redstone had plans to remove Bakish before the company&#39;s carriage negotiation with Charter Communications, a pivotal event for determining Paramount&#39;s value in its merger talks with Skydance.
As the merger talks progress, it is expected that Bakish will leave Paramount&nbsp;and Skydance&#39;s CEO David Ellison will take over.
Bakish has privately opposed the merger, arguing it could dilute common shareholders. The proposed deal would see Skydance and its private equity partners owning nearly 50% of the merged company, with ordinary shareholders owning the rest.
Why It Matters: <a href="http://www.benzinga.com/m-a/24/04/38458769/paramount-skydance-merger-talks-heat-up">The merger talks</a> between Paramount Global and Skydance Media have been heating up. The companies are reportedly close to agreeing on a valuation of about $5 billion for Skydance in the merger.
Interestingly, this isn&#39;t Paramount&#39;s first involvement in merger talks.
In December 2023, <a href="http://www.benzinga.com/m-a/23/12/36334785/ceos-of-warner-bros-and-paramount-meet-to-discuss-possible-merger-axios">Bakish met with</a> Warner Bros. Discovery, Inc.&nbsp;CEO David Zaslav to discuss a potential merger.
The discussions centered on&nbsp;how the two companies could complement each other, including leveraging Paramount&#39;s children&#39;s programming assets and combining CBS News and CNN into a global news outlet.
Now Read:<a href="https://www.benzinga.com/markets/equities/24/04/38335444/why-paramount-global-shares-are-gaining-today">&nbsp;</a><a href="https://www.benzinga.com/markets/equities/24/04/38335444/why-paramount-global-shares-are-gaining-today">Why Paramount Global Shares Are Gaining Today</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

PARA

CEO Shake-Up Looms At Paramount Global Amid Skydance Merger Discussions

MedMen Enterprises Inc. has thrown in the towel, citing financial conditions and an inability to pay its debts, said Amit Pandey, the cannabis company's former chief financial officer late Friday. 
Once hailed as the first cannabis unicorn and the &#8220;Apple store of weed,&#8221; MedMen spiraled over the past several years as troubling financial reports began to leak. These were followed by retail shop closures, layoffs, lawsuits and recriminations among executives.
"The difficult decision to shut down operations and commence the Bankruptcy Proceedings and Receivership Proceedings was made after careful consideration of the current financial condition of the Company and its subsidiaries, their inability to pay their liabilities as they become due and the anticipated enforcement actions of secured creditors," MedMen <a href="https://financialpost.com/pmn/business-wire-news-releases-pmn/medmen-announces-entering-bankruptcy-proceedings-and-resignation-of-cfo-and-directors">announced</a> in a Friday press release. 
"After careful consideration of these factors and in the absence of other available alternatives, the board of directors of the Company determined that it was in the best interests of the Company to proceed with the commencement of the Bankruptcy Proceedings and Receivership Proceedings."
<h2 class="wp-block-heading">$3 Billion Valuation</h2>
MedMen opened one of California's first retail cannabis stores in 2018 in West Hollywood after recreational cannabis laws went into effect. That same year, its stock was given a $3 billion valuation.
Despite MedMen's early success, it faced numerous challenges in the form of legal battles, failed acquisitions, high losses and stiff competition from both the legal and illicit cannabis markets.
Pandey resigned effective Feb. 13, along with each of the company's directors who resigned immediately prior to the commencement of the bankruptcy proceedings.
More information regarding the bankruptcy proceedings can be obtained from <a href="https://brileyfarber.com/engagements/medmen-enterprises-inc/">the bankruptcy trustee's website</a>. 
Photo: Courtesy of MedMen Enterprises Inc.

Cannabis

Retail Sales

Once Called The 'Apple Store Of Weed' And Valued At $1.7B, This Cannabis Company Has Declared Bankruptcy

As the weekend comes to a close, let&#8217;s take a look at the top stories that shaped the week. From a former senator&#8217;s skepticism about President Joe Biden&#8217;s tax proposal to the Fed&#8217;s inflation indicator, here&#8217;s a quick recap of the key events that unfolded.
<h3 class="wp-block-heading">Former Senator Dismisses Biden&#8217;s Capital Gains Tax Proposal</h3>
Former Democratic senator, Heidi Heitkamp, has expressed doubts about the likelihood of President Joe Biden&#8217;s proposed 44% capital gains tax passing. The proposal, part of the Fiscal Year 2025 Budget, aims to raise long-term capital gains and qualified dividends rates to 37% for taxpayers with taxable income above $1 million.&nbsp;
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38457749/former-democrat[%E2%80%A6]or-says-bidens-new-capital-gains-tax-proposal-aimed-at-billi">Read the full article here</a>.
<h3 class="wp-block-heading">Fed&#8217;s Key Inflation Indicator Hits 2.8%</h3>
The Federal Reserve&#8217;s preferred inflation measure, the Personal Consumption Expenditure (PCE) price index, surged beyond expectations in March. This development has further dampened hopes of a Federal Reserve rate cut, which had already been dwindling in recent weeks. Market-implied probabilities now suggest a 60% chance of a rate cut by September 2024, with only one rate cut priced in by year-end.&nbsp;
<a href="https://www.benzinga.com/general/macro-notification/24/04/38458581/feds-key-inflation-indicator-hits-2-8-dashes-rate-cut-hopes-traders-on-alert">Read the full article here</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38457749/former-democratic-senator-says-bidens-new-capital-gains-tax-proposal-aimed-at-billi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/news/earnings/24/04/38374783/wall-street-set-to-open-higher-as-tesla-to-kick-off-magnificent-7-earnings-why-this-analyst-thinks-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500, Nasdaq Futures Climb Higher: Will Tesla Earnings Spark Rally Or Retreat?</a>
<h3 class="wp-block-heading">US Economy Grows 1.6% In Q1</h3>
The U.S. economy experienced slower growth in the first quarter of the year, falling slightly below economists&#8217; predictions. The Gross Domestic Product (GDP) annualized growth rate for the quarter stood at 1.6%, as per the advanced estimates released by the Bureau of Economic Analysis.&nbsp;
<a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38429782/us-economy-gr[%E2%80%A6]in-q1-slightly-below-expectations-as-price-pressures-weigh-o">Read the full article here</a>.
<h3 class="wp-block-heading">Goldman Sachs Predicts Steady Inflation Decline</h3>
Despite recent unexpected inflation increases, Goldman Sachs economist Jessica Rindels has forecasted a downturn in the core Personal Consumption Expenditure (PCE) Inflation for the rest of the year. Rindels attributes the re-acceleration to transient factors that are expected to diminish.&nbsp;
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38389508/did-the-feds-st[%E2%80%A6]ay-off-goldman-sachs-projects-steady-inflation-decline-in-20">Read the full article here</a>.
<h3 class="wp-block-heading">Treasury Yields Reach 5-Month High</h3>
As Treasury yields continue to rise, reaching levels not seen since November 2023, the impact on the U.S. mortgage market and potentially the broader economy is becoming increasingly pressing. The yield on the 30-year Treasury note climbed 5 basis points, reaching 4.78% by mid-morning in New York, on track to close at its highest level since Nov. 6, 2023.&nbsp;
<a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yiel[%E2%80%A6]-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Read the full article here</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Growth Slows In Q1, Yet Inflation Acceleration Signals Stagflation: &#8216;The Worst Possible Outcome For The Fed&#8217;</a>
Image by Chris Yunker via Flickr
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Economics

Everything From Biden's Capital Gains Tax Proposal, Fed's Inflation Indicator To US Economy Growth And Goldman Sachs' Inflation Decline Prediction: Top Economic Updates This Week

The week was a rollercoaster ride in the world of cryptocurrency. From Shiba Inu&#8217;s skyrocketing burn rate to the rising concerns about overvaluation in the crypto market, there was no shortage of action. Meme coins continued to make waves, with Pepe and Dogecoin gaining traction. Meanwhile, Cathie Wood of Ark Invest made a bold prediction about Ethereum. Here&#8217;s a recap of the top stories.
Shiba Inu Burn Rate Skyrockets &#8211; Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is back in the spotlight with a significant increase in burn rates and wallet movements. Data from Shibburn revealed a 2,211.9% spike in burn rate in the past 24 hours, with a single transaction burning 1.8 million SHIB coins. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38402854/dogecoin-killer-shiba-inu-burn-rate-skyrockets-2-212-as-robinhood-wallet-moves-3-trillion">Read the full article here.</a>
Crypto Greed Peaks, But Prices Don&#8217;t &#8211; Twitter personality WazzCrypto expressed concerns about the current state of the cryptocurrency market. He highlighted the prevalence of overvaluation, with many new projects launching with valuations exceeding $10 billion. He also discussed the impact of memes on market sentiment and the influx of new money into the cryptocurrency space. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38365501/crypto-greed-almost-at-all-time-high-but-prices-are-not-warns-trader-this-cycle-is-kinda-c">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38423721/dogecoin-killer-shiba-inu-burn-rate-drops-over-last-24-hours-mirrors-decline-in-price?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Drops Over Last 24 Hours, Mirrors Decline In Price</a>
Pepe May Flip Shiba Inu and Dogecoin &#8211; Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) has generated significant gains over the past seven days, prompting analysts to foresee further bullish price action. Meme coin analyst and trader Murad believes that Pepe, a "cult community with more than 10 million unique memes," could flip Shiba Inu and Dogecoin. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38413834/pepe-up-50-on-the-week-cult-community-may-flip-shib-and-possibly-even-doge-predicts-influe">Read the full article here.</a>
Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network &#8211; Jesse Pollak, the creator of Base of Coinbase, attributed the burgeoning adoption of the layer-2 network to the rise of memecoins. He emphasized the influence of memecoins in integrating a significant number of users into the Base ecosystem. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e">Read the full article here.</a>
Cathie Wood&#8217;s Ethereum Prediction &#8211; Cathie Wood of Ark Invest believes that Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) could catch up to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and provide investors with huge profits in the coming years. She predicts that Ethereum could reach a market capitalization of $20 trillion by 2032. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38377888/holding-6-ethereum-eth-could-make-you-a-millionaire-according-to-cathie-wood">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38469336/meme-coins-are-a-pure-ponzi-and-destroying-crypto-says-trader-who-thinks-dogecoin-was-diff?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Coins Are &#8216;A Pure Ponzi&#8217; And &#8216;Destroying Crypto,&#8217; Says Trader Who Thinks Dogecoin Was Different</a>
Photo by Avi Rozen via Shutterstock
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Shiba Inu's Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto Updates This Week

It&#8217;s been a whirlwind week for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a mix of exciting announcements and challenging news. The tech giant is finally set to introduce a Calculator app for the iPad, a feature that has been long-awaited by users. On the flip side, Apple&#8217;s iPhone sales in China have taken a significant hit, and the company has had to slash its Vision Pro shipment forecasts due to a sharp drop in demand. To top it all off, Meta Platforms CEO Mark Zuckerberg has once again taken a swipe at Apple&#8217;s Vision Pro. Let&#8217;s dive into the details.
Apple&#8217;s Long-Awaited Calculator App for iPad
According to a report, Apple is set to launch a Calculator app for the iPad with the upcoming iPadOS 18. The new app is expected to be unveiled during the opening keynote of Apple's annual developers conference WWDC on June 10. This has been a long-awaited feature, with iPad users having to rely on third-party calculator apps from the App Store in the absence of an official Calculator app. <a href="https://www.benzinga.com/news/24/04/38394692/at-last-apple-to-finally-introduce-calculator-app-for-ipad-after-14-years-report">Read the full article here.</a>
Apple&#8217;s Special Event: New iPads on the Horizon
Apple has announced a special event scheduled for May 7, where it is expected to unveil new iPads. The event, indicated by the Apple Pencil featured on the invite, will focus on the new iPad models. The tagline for this iPad event is &#8220;Let loose,&#8221; according to the company. <a href="https://www.benzinga.com/news/24/04/38382312/apple-sets-date-for-special-event-after-18-month-pause-new-ipads-expected-on-may-7">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38415577/tesla-posts-strongest-session-since-january-2022-is-a-trend-reversal-underway?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Posts Strongest Session Since January 2022: Is A Trend Reversal Underway?</a>
iPhone Sales Plunge in China
Apple&#8217;s iPhone sales in China have reportedly plummeted by 19.1% in the first quarter of 2024, marking the company&#8217;s worst performance since 2020. The data from Counterpoint Research also shows a significant decline in Apple&#8217;s market share in China, dropping to 15.7% from 19.7% a year ago. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">Read the full article here.</a>
Apple Cuts Vision Pro Shipment Forecasts
Apple has reportedly cut its Vision Pro shipments by nearly half due to a significant drop in demand. The company has revised its Vision Pro shipment estimates to 400,000-450,000 units for 2024, down from the initial 700,000-800,000 units. This has led Apple to reconsider its overall headset strategy. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397921/apple-in-trouble-tim-cook-reportedly-cuts-vision-pro-shipment-forecasts-by-up-to-50">Read the full article here.</a>
Zuckerberg&#8217;s Swipe at Apple Vision Pro
Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), has once again taken a dig at Apple&#8217;s Vision Pro. During Meta's first-quarter earnings call, Zuckerberg expressed his skepticism about the mainstream success of augmented reality (AR) glasses, particularly those without "full holographic displays,&#8221; in a subtle jab at Apple Vision Pro. <a href="https://www.benzinga.com/news/24/04/38424000/mark-zuckerberg-shades-apple-vision-pro-once-again-calls-it-fashionable-ai-glasses-without-a-display">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Massive $1B Bet On Nvidia H100 GPU Cluster Will Dwarf Every Other Company&#8217;s Target</a>
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Apple's Rollercoaster Week: New iPads On Horizon, iPhone Sales Slump In China And Mark Zuckerberg's Jab At Vision Pro

The week was filled with intriguing stories, from Elon Musk&#8216;s dismissal of alien theories to the U.S. Supreme Court&#8217;s deliberation on former President Donald Trump&#8216;s immunity claims. North Korea&#8217;s commitment to military power, the White House&#8217;s stance on National Guard deployment, and Trump&#8217;s stock loss also made headlines. Here&#8217;s a quick recap of these stories.
Musk Dismisses Alien Theories &#8211; Tesla Inc. CEO and SpaceX founder Elon Musk refuted Tucker Carlson&#8217;s claim that aliens are living among us. Musk stated that despite the approximately 6000 satellites orbiting Earth, he has seen no evidence of extraterrestrial life. <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000">Read the full article here.</a>
SCOTUS Deliberates on Trump&#8217;s Immunity Claims &#8211; The U.S. Supreme Court ruled that former presidents enjoy some degree of immunity from criminal prosecution. Legal experts weighed in on the proceedings, with the spotlight on Chief Justice John Roberts Jr. <a href="https://www.benzinga.com/news/24/04/38454052/just-shocked-doj-veteran-says-potential-scotus-suprise-over-trumps-immunity-claim-shows-how-inured-w">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/short-sellers/24/04/38468155/trumps-stock-loss-means-millions-for-short-sellers-a-lot-of-his-businesses-go-belly-up-quickly?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Stock Loss Means Millions For Short Sellers: &#8216;A Lot Of His Businesses Go Belly Up, Quickly&#8217;</a>
North Korea&#8217;s Commitment to Military Power &#8211; Kim Yo Jong, sister of North Korean leader Kim Jong Un, announced North Korea&#8217;s commitment to strengthening its military power to safeguard its sovereignty and ensure regional peace. She condemned the U.S. military's series of exercises in the region. <a href="https://www.benzinga.com/news/24/04/38395938/kim-jong-uns-sister-pledges-to-build-north-koreas-overwhelming-military-power-amid-rising-regional-t">Read the full article here.</a>
White House on National Guard Deployment &#8211; The White House declined Republican Speaker Mike Johnson's (R-La.) call to deploy the National Guard on college campuses witnessing large-scale protests over the Israel-Hamas conflict. White House spokesperson Karine Jean-Pierre clarified that the power to deploy the National Guard lies with state governors. <a href="https://www.benzinga.com/news/24/04/38449517/white-house-declines-mike-johnsons-request-for-national-guard-deployment-amid-college-protests-over">Read the full article here.</a>
Trump&#8217;s Stock Loss &#8211; The public debut of Trump Media &amp; Technology Group has been a major storyline of 2024. The company is now warning of potential stock manipulation, and investors shorting the newly public stock have reportedly made millions of dollars. <a href="https://www.benzinga.com/short-sellers/24/04/38468155/trumps-stock-loss-means-millions-for-short-sellers-a-lot-of-his-businesses-go-belly-up-quickly">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38454052/just-shocked-doj-veteran-says-potential-scotus-suprise-over-trumps-immunity-claim-shows-how-inured-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Just Shocked:&#8217; DOJ Veteran Says Potential SCOTUS Suprise Over Trump&#8217;s Immunity Claim Shows &#8216;How Inured We Are To Sort Of Trumpism Overtaking What This Country Is Supposed To Stand For&#8217;</a>
Image Credit: Shutterstock
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Elon Musk Debunks Tucker Carlson's Alien Theory, SCOTUS On Trump's Immunity, North Korea's Military Pledge And More: This Week In Politics

The week was abuzz with tech titans making headlines. From Elon Musk&#8216;s humorous response to a photo comment to Mark Zuckerberg&#8216;s subtle dig at Apple&#8217;s Vision Pro, the tech world was far from quiet. Here&#8217;s a quick recap of the top stories that unfolded over the weekend.
Elon Musk&#8217;s Laughter Over a Photo Comment
When Greg Brockman, president of ChatGPT's parent company, shared a photo with Sam Altman and Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang, a user humorously asked if former OpenAI chief scientist, Ilya Sutskever, was in the box. Elon Musk, CEO of Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX, responded with a face with tears of joy emoji. <a href="https://www.benzinga.com/news/24/04/38424089/elon-musk-laughs-as-x-user-quip-on-nvidia-ceo-jensen-huangs-picture-with-sam-altman-and-greg-brockma">Read the full article here.</a>
Mark Zuckerberg Shades Apple Vision Pro
Mark Zuckerberg, CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), expressed skepticism about the mainstream success of augmented reality (AR) glasses, particularly those without "full holographic displays,&#8221; in a subtle jab at Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro during Meta's first-quarter earnings call. <a href="https://www.benzinga.com/news/24/04/38424000/mark-zuckerberg-shades-apple-vision-pro-once-again-calls-it-fashionable-ai-glasses-without-a-display">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO: &#8216;What</a>
Meta&#8217;s Massive $1B Bet On Nvidia H100 GPU Cluster
Meta Platforms has set a goal of buying 350,000 Nvidia H100 GPUs by 2024 to power its AI ambitions. However, Zuckerberg revealed that the massive $1 billion bet was originally intended for a different product, not AI. <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber">Read the full article here.</a>
AI&#8217;s Growing Influence on Social Media Content
During Meta's first-quarter financial results announcement, Zuckerberg revealed that over 50% of the content on Instagram and 30% of posts on Facebook are now recommended by artificial intelligence. <a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended">Read the full article here.</a>
Elon Musk&#8217;s Prediction for Domestic Robots
Elon Musk agreed with a bold prediction that every middle-class American household will have a domestic robot within seven years. The prediction was made on the All-In Podcast, featuring Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg. <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Photo by Andrea De Santis on Unsplash
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Elon Musk's Prediction For Domestic Robots, Mark Zuckerberg's Massive $1B Bet On Nvidia GPUs And More: This Week In AI

This week, Rhona Graff, once <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a>&#8216;s trusted confidante, emerged as the second witness to testify against the former president in his hush-money trial.
At Trump Tower, Graff stood guard as Trump&#8217;s gatekeeper, stationed just outside his door, <a href="https://www.nytimes.com/2024/04/26/nyregion/rhona-graff-testify-trump-assistant.html" target="_blank" rel="noreferrer noopener">reported</a> The New York Times.  
Her office proximity allowed her to overhear his directives and anyone seeking access to Trump had to navigate through her, often needing a secret code to connect.
&#8220;Everybody knows to get through to him, they have to go through me,&#8221; she said once, The New York Times noted.
Prosecutors briefly questioned Graff on Friday, followed by a short cross-examination by Trump&#8217;s legal team.
Questioned about her duties at the Trump Organization, Graff informed prosecutors that she managed records encompassing emails, contact lists and calendar entries. She noted that the company&#8217;s directory contained contact details for Karen McDougal and a person identified as &#8220;Stormy.&#8221;
McDougal, a former Playboy model, claims an involvement with Trump. &#8220;Stormy&#8221; likely refers to Stormy Daniels, who alleged an affair with the former president. The latter&#8217;s hush-money payment has been pivotal in the criminal case against Trump.
Graff revealed that despite leaving the Trump Organization and testifying,&nbsp;her legal fees&nbsp;were covered&nbsp;by the organization.
When questioned by a Trump lawyer, she praised her time with the former president, describing him as &#8220;fair,&#8221; prompting a smile from Trump in court. She also&nbsp;expressed admiration for&nbsp;Trump&#8217;s reality show &#8220;The Apprentice,&#8221; noting its role in elevating his status to&nbsp;&#8220;rock-star&#8221;&nbsp;level.
In 1987, Graff seized an opportunity at the Trump Organization through a cold call, kickstarting her career trajectory. Six years later, her wedding to Lucius Joseph Riccio, NYC&#8217;s transportation commissioner, was featured in The New York Times, officiated by Mayor David N. Dinkins.&nbsp;
Her pivotal role within Trump&#8217;s sphere extended beyond mere assistantship,&nbsp;evident&nbsp;in her title as senior vice president. She functioned as Trump&#8217;s media liaison, scheduler, occasional spokeswoman, fundraiser, &#8220;The Apprentice&#8221; co-star, and judge for Miss Teen USA.
Donald Trump&#8217;s criminal trial&#8217;s second week&nbsp;concluded&nbsp;with his defense team aiming to highlight inconsistencies in<a target="_blank" href="https://www.benzinga.com/news/24/04/38475895/in-week-1-of-donald-trumps-hush-money-trial-a-former-tabloid-exec-revealed-how-ex-president-tried-to" rel="noreferrer noopener">&nbsp;David Pecker</a>&#8216;s testimony.&nbsp;However, the former tabloid executive largely maintained the narrative&nbsp;aligned with&nbsp;prosecutors&#8217;&nbsp;theory, Politico&nbsp;<a target="_blank" href="https://www.politico.com/news/2024/04/26/hush-money-trial-trump-former-assistant-00154741" rel="noreferrer noopener">reported</a>.&nbsp;Defense attorney&nbsp;Emil Bove&nbsp;scrutinized Pecker about a January 2017 Trump Tower meeting, where Pecker claimed Trump expressed gratitude for suppressing damaging stories.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll" target="_blank" rel="noreferrer noopener">Voters Reveal Whether They Feel Donald Trump Is Receiving Fair Treatment In Court In Latest Poll — What That Means For Former President&#8217;s Election Chances</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Is Donald Trump's Former Assistant, Rhona Graff, The Key Witness In His Manhattan Trial?

<a href="https://www.benzinga.com/topic/elon-musk" target="_blank" rel="noreferrer noopener">Elon Musk</a>, the CEO of X, Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX who is known for his stance on free speech, is embroiled in yet another free speech <a href="https://www.benzinga.com/news/24/04/38476524/facebook-co-founder-brings-back-old-memories-as-he-alleges-elon-musks-tesla-will-be-the-next-enron-h" target="_blank" rel="noreferrer noopener">debate after acquiring X in 2022</a>.
The billionaire is entangled in legal disputes with the governments of Brazil and Australia over their content restrictions. Musk claims they suppress free speech, but critics argue he&#8217;s empowering extremists by selectively challenging cases while complying elsewhere, <a href="https://www.aljazeera.com/economy/2024/4/26/why-is-elon-musk-feuding-with-australia-and-brazil-over-free-speech" target="_blank" rel="noreferrer noopener">reported</a> Al Jazeera. 
Musk&#8217;s clash with Brazilian authorities stems from the handling of &#8220;digital militias&#8221; linked to former President Jair Bolsonaro. Supreme Court Justice de Moraes has been investigating Bolsonaro&#8217;s supporters for spreading fake news and hate speech online during his presidency.
The judge is also leading an inquiry into a coup plot by Bolsonaro&#8217;s backers following his 2022 election defeat to current left-wing President Luiz Inacio Lula da Silva.
During his investigation, de Moraes prohibited 150 accounts linked to the &#8220;digital militias,&#8221; sparking controversy as reports surfaced that many remained active. Musk, in April, criticized the bans as &#8220;aggressive censorship&#8221; in tweets aimed at the judge, Al Jazeera added.
Musk also said X would &#8220;lift all restrictions&#8221; on the banned accounts, although the platform said it had complied with the orders pending legal challenges.
&#8220;This judge has brazenly and repeatedly betrayed the constitution and people of Brazil.&nbsp;He should resign or&nbsp;be impeached,&#8221; Musk&nbsp;<a target="_blank" href="https://twitter.com/elonmusk/status/1776739518240170254?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1776739518240170254%7Ctwgr%5Eb3061cdab80b3f96384a6eff828a9605d1b1096d%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.aljazeera.com%2Feconomy%2F2024%2F4%2F26%2Fwhy-is-elon-musk-feuding-with-australia-and-brazil-over-free-speech" rel="noreferrer noopener">said&nbsp;</a>on X. &#8220;Shame.&#8221;
In response, de Moraes launched an investigation into Musk for obstruction of justice, Al Jazeera said.
In addition to his dispute in Brazil, Musk is clashing with Australia&#8217;s internet watchdog over a knife attack livestreamed in Sydney. After the attack, eSafety Commissioner Julie Inman Grant issued a global takedown notice for videos of the event, arguing they should be removed due to the ease of circumventing geo-blocking using VPNs.
While Meta complied, X only restricted the videos in Australia, sparking a legal battle. Despite an emergency injunction, Musk has remained defiant, criticizing Australia for global censorship. Australian Prime Minister Anthony Albanese rebuked Musk as an &#8220;arrogant billionaire.&#8221;
X&#8217;s legal battles has since intensified. In Brazil, Musk&#8217;s platform faces scrutiny for alleged non-compliance with court orders. Meanwhile, in Australia, X contests a global takedown order amid the threat of hefty fines, Al Jazeera reported.
Musk has signaled more legal battles ahead, vowing to fund challenges against Ireland&#8217;s forthcoming hate speech laws.
Musk&#8217;s stance on free speech has remained polarizing: Some view him as a champion, others as a provocateur. Despite his battles with Brazil and Australia, he&#8217;s complied with takedown orders from Turkey and India, raising questions about his consistency.
Critics have suggested Musk&#8217;s defense of free speech is selective, favoring figures like Bolsonaro and Argentina&#8217;s Milei. While the U.S. has lax speech laws, other nations are more aggressive in curbing harmful content, per Al Jazeera. 
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll" target="_blank" rel="noreferrer noopener">Voters Reveal Whether They Feel Donald Trump Is Receiving Fair Treatment In Court In Latest Poll — What That Means For Former President&#8217;s Election Chances</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Equities

Elon Musk Take Fight For Free Speech Abroad, Feuds With Australia And Brazil Over Content Restriction

On Friday, Cathie Wood-led<a href="https://www.benzinga.com/topic/ark-invest"> Ark Invest</a> did a flurry of trades involving some of its key portfolio stocks, notably adding a big chunk of shares of AI-levered Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
AI Pickings: Ark, through its ARK Autonomous Technology &amp; Robotics ETF (CBOE: ARKQ), bought 100,344 shares of Palantir, valued at $2.26 billion. This was in addition to the 45,229 shares, worth $981,923, it acquired on Thursday.
Palantir is scheduled to report its first-quarter results on May 5. Analysts, on average, expect the company to report earnings per share of 8 cents per share on revenue of $625.33 million, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>This represents an increase from fourth-quarter numbers of 5 cents per share and $525.19 million, respectively.
Ark also accumulated Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares in two sessions following the social media giant&#8217;s quarterly earnings announcement.
The Meta stock ended 10.56% lower on Thursday, reacting to its soft second-quarter revenue guidance and commentary regarding intensive investment in AI. Ark, via its Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) added 27,961 Meta shares on Thursday worth $12.34 million.
Ark went on a Meta buying spree yet again on Friday despite the stock recovering and closing 0.43% higher. The firm bought 13,494 Meta shares valued at $5.98 million.
See Also: <a href="https://www.benzinga.com/money/best-etfs">Best ETFs To Buy Right Now</a>
Bargain Hunting In Roku: Streaming equipment maker Roku, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) shares fell 10.28% on Friday despite its quarterly beat. Investors apparently did not take kindly to the management hinting at difficult comparisons in the coming quarters.
Undeterred by the sell-off, Ark added a whopping 715,644 Roku shares, valued at $40.33 million, on Friday. 
An EV Buy: Ark, which supported Tesla amid its stock slump prior to its earnings, shifted allegiance to another electric-vehicle maker this week.
Through ARKQ, Ark bought 2,800 shares of BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) worth $146,132 on Thursday. It followed up with the purchase of another 28,434 shares, valued at $1.54 million, on Friday.
Billionaire investor Warren Buffett&#8217;s Berkshire has a stake in BYD, which wrested the global battery EV crown from Tesla in the fourth quarter of 2023 but has since <a href="https://www.benzinga.com/markets/equities/24/04/38047077/tesla-stock-dives-as-q1-deliveries-disappoint-but-ev-giant-reclaims-top-spot-from-chinese-rival">ceded it back to the U.S. EV giant.</a> BYD now accounts for about 1% of ARKQ&#8217;s portfolio by weighting.
Ark&#8217;s flagship exchange-traded fund, the ARKK, closed Friday&#8217;s session up 1.05% at $44.07, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38405187/elon-musk-echoes-cathie-wood-wants-tesla-to-be-seen-as-an-ai-or-robotics-company-if-you-value-te">Elon Musk Echoes Cathie Wood, Wants Tesla To Be Seen As An AI Or Robotics Company: &#8216;If You Value Tesla As Just An Auto Company…Wrong Framework&#8217;</a>
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ARKF

ARKK

ARKQ

ARKW

BYDDF

BYDDY

PLTR

ROKU

Cathie Wood's Ark Invest Hoards Palantir Stock Ahead Of Q1 Earnings, Adds More Of This Buffett-Backed EV Bet, Buys Meta, Roku Earnings Dip

The Biden reelection campaign has initiated fresh criticism of the former Trump administration, focusing this time on an unexpected issue: impeding cannabis reform efforts. In an email circulated on Thursday, the campaign highlighted Vice President Kamala Harris&#8216;s recent White House roundtable with people who received clemency for drug-related offenses, which the campaign then contrasted with what it viewed as the failures of Trump's criminal justice reform.
"Trump and his administration took marijuana reform backwards, withdrawing guidelines to limit prosecutions of marijuana offenses that were legal under state laws," according to a Democratic campaign email, as <a href="https://www.marijuanamoment.net/biden-campaign-says-trump-took-marijuana-reform-backwards-by-rescinding-enforcement-memo-despite-current-admin-failing-to-reinstate-it/">reported</a> by Marijuana Moment.
<h2 class="wp-block-heading">Which Means What Exactly?</h2>
The Trump administration set back marijuana reform efforts by rescinding Justice Department guidance that allowed for discretion in federal cannabis prosecutions. Specifically, the email pointed to former Attorney General Jeff Sessions&#8216; decision to revoke the Obama-era Cole memo, which outlined priorities for federal marijuana enforcement and notably adopted a hands-off approach to state-legal cannabis activities.
While the practical ramifications of Sessions&#8217; move were limited, legal cannabis states continued to operate their markets with minimal federal intervention. However, the symbolic significance of the decision raised concerns about a potential crackdown that never happened.
Despite criticizing the prior administration&#8217;s actions, the Biden campaign email failed to acknowledge that the current administration has also not reissued any guidance on cannabis enforcement. Attorney General Merrick Garland&#8216;s pledge in June 2022, reiterated several times since then, to address the issue of rescheduling cannabis, remains unfulfilled.
These delays have prompted frustration among Democratic lawmakers, who recently <a href="https://www.benzinga.com/markets/cannabis/24/04/38442044/senators-warren-fetterman-plus-18-more-dems-tell-dea-its-time-to-act-on-cannabis-rescheduling">penned another of many letters</a> to Garland and DEA administrator Anne Milgram expressing their dissatisfaction with the lack of movement on the status of cannabis and the DEA's reclassification.
The Biden campaign&#8217;s emphasis on cannabis reform underscores its strategy to leverage popular issues ahead of what is turning into a tight election bid with Donald Trump. By contrasting the administration&#8217;s approach with that of Trump&#8217;s, the campaign seems to be attempting to highlight its commitment to criminal justice reform, particularly concerning non-violent drug offenses.
Both Biden and Harris have also been actively promoting marijuana policy reform through various channels, including social media and public addresses, signaling the administration&#8217;s prioritization of the issue — though again with little action. These concerted efforts align with the administration&#8217;s broader focus on &#8220;<a href="https://www.benzinga.com/markets/cannabis/24/04/38240431/biden-champions-cannabis-reform-and-pardon-as-election-pressure-mounts-marijuana-takes-center-st" target="_blank" rel="noreferrer noopener">Second Chance Month</a>&#8221; (which is April) as an opportunity to rectify the harms caused by marijuana still being classified as a Schedule I drug under federal law.
One such effort was the Thursday meeting with Kim Kardashian at the White House. Harris took the opportunity to highlight Biden's <a href="https://www.benzinga.com/markets/cannabis/24/04/38412810/president-biden-pardons-commutes-16-non-violent-drug-offenders-cannabis-prisoners-excluded">recent clemency and pardon for non-violent drug offenders</a>, although those convicted of cannabis-related offenses were not included.
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Government

Regulations

Trump 'Took Marijuana Reform Backwards' While President, Says Biden Reelection Campaign

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The S&amp;P 500 and Nasdaq just had their best week since November, rising 2.7% and 4.2% respectively, ending their recent streaks of losses. The Dow also increased slightly by 0.7%. 
Tech stocks, represented by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), saw their strongest performance of 2024 after four weeks of declines, boosted by easing geopolitical tensions in the Middle East and strong corporate earnings. 
However, U.S. economic growth decelerated in the first quarter and unexpected rises in key inflation metrics have postponed discussions on <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">potential interest rate cuts.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38465071/microsoft-q3-shines-light-on-ai-innovation-cycle-analysts-see-plenty-of-runway-for">&#8220;Microsoft Q3 Shines Light On &#8216;AI Innovation Cycle&#8217;: Analysts See &#8216;Plenty Of Runway For Growth'&#8221;</a>, by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports that Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) exceeded third-quarter financial expectations, with analysts optimistic about its AI-driven growth potential, especially in Azure, and forecasting substantial future revenue.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38454567/trader-who-turned-15k-into-5m-predicts-these-4-meme-coins-to-emulate-the-success-of-doge-s">&#8220;Trader Who Turned $15K Into $5M Predicts These 4 Meme Coins To Emulate The Success Of DOGE, SHIB, FLOKI&#8221;</a>, by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, describes cryptocurrency influencer Crash&#8216;s forecast that Brett (BRETT), Bobo (BOBO), Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Resistance Dog (REDO) could match the past successes of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) in the meme coin market.
<a href="https://www.benzinga.com/news/24/04/38439412/palantirs-rock-concert-ai-sales-strategy-is-rapidly-boosting-commercial-sales-we-cant-do-enough-of-t">&#8220;Palantir&#8217;s &#8216;Rock Concert&#8217; AI Sales Strategy Is Rapidly Boosting Commercial Sales: &#8216;We Can&#8217;t Do Enough Of Them'&#8221;</a>, by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, explains how Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) is innovatively using boot camps, reminiscent of rock concerts, to dramatically increase its commercial sales without a traditional sales team, as described by CEO Alex Karp.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38415577/tesla-posts-strongest-session-since-january-2022-is-a-trend-reversal-underway">Tesla Posts Strongest Session Since January 2022: Is A Trend Reversal Underway?</a>
<a href="https://www.benzinga.com/news/24/04/38380796/ford-ceo-jim-farley-reposts-video-of-f-150-lightning-powering-a-bounce-house-after-generator-failed">Ford CEO Jim Farley Reposts Video Of F-150 Lightning Powering A Bounce House After Generator Failed</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38456702/microsofts-azure-strength-could-rub-off-on-this-warren-buffett-backed-stock-and-ano">Microsoft&#8217;s Azure Strength Could Rub Off On This Warren Buffett-Backed Stock And Another Big Cloud Player, Says Analyst</a>
The Bears
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38365501/crypto-greed-almost-at-all-time-high-but-prices-are-not-warns-trader-this-cycle-is-kinda-c">&#8220;Crypto &#8216;Greed Almost At All-Time High, But Prices Are Not&#8217; Warns Trader: &#8216;This Cycle Is Kinda Cooked'&#8221;</a>, by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>,&nbsp;details a trader&#8217;s observation that despite the greed index reaching near record levels, the actual market prices for cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) have not escalated, hinting at potential market instability.
<a href="https://www.benzinga.com/markets/equities/24/04/38410320/stock-manipulation-in-trump-media-technology-group-stock-ceo-devin-nunes-urges-house-gop-leaders">&#8220;Stock Manipulation In Trump Media &amp; Technology Group Stock? CEO Devin Nunes Urges House GOP Leaders To Investigate&#8221;</a>, by <a href="https://www.benzinga.com/author/nabaparna-bhattacharya">Nabaparna Bhattacharya</a>, reports that Devin Nunes, CEO of Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), has requested a Congressional investigation into potential stock manipulation, citing unusually high costs and questionable trading practices involving DJT shares.
<a href="https://www.benzinga.com/news/24/04/38474626/tesla-is-now-enron-folks-facebook-co-founder-claims-musks-ev-giant-is-cooking-up-some-fsd-data">&#8220;Tesla &#8216;Is Now Enron, Folks:&#8217; Facebook Co-Founder Claims Musk&#8217;s EV Giant Is Cooking Up Some FSD Data&#8221;</a>, by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, reports that Dustin Moskovitz, co-founder of Facebook (now Meta), has accused Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and CEO Elon Musk of misrepresenting Full Self-Driving (FSD) capabilities, likening the company&#8217;s situation to the infamous Enron scandal.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397921/apple-in-trouble-tim-cook-reportedly-cuts-vision-pro-shipment-forecasts-by-up-to-50">Apple In Trouble? Tim Cook Reportedly Cuts Vision Pro Shipment Forecasts By Up To 50%, Analyst Says Demand Has &#8216;Fallen Sharply&#8217;</a>
<a href="https://www.benzinga.com/news/24/04/38379284/affirm-stock-drops-as-walmart-rolls-out-new-payment-options-the-details">Affirm Stock Drops As Walmart Rolls Out New Payment Options: The Details</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38468834/intel-still-a-work-in-progress-as-turnaround-efforts-take-root-analysts-say-after-q">Intel &#8216;Still A Work In Progress&#8217; As &#8216;Turnaround Efforts Take Root,&#8217; Analysts Say After Q1 Disappointment</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Short Ideas

MSFT

Benzinga Bulls And Bears: Tesla, Microsoft, Trump Media, Palantir, And Trader Predicts 4 Meme Coins To Echo Dogecoin, Shiba Inu

Mary Trump stated on Thursday that if Donald Trump potentially misused his <a href="https://www.benzinga.com/news/24/02/36923203/trumps-2023-fundraising-takes-major-hit-as-legal-bills-consume-one-quarter-super-pacs-drain-millions">campaign funds</a>, it could have significant ramifications. In a separate post, she also delved into legal updates concerning her uncle.
Sketchy Transaction: In a <a href="https://marytrump.substack.com/p/is-donald-swiping-campaign-funds?utm_source=post-email-title&amp;publication_id=559646&amp;post_id=144001830&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=rkloa&amp;triedRedirect=true&amp;utm_medium=email">post</a> on Substack, clinical psychologist Mary Trump noted that Donald Trump&#8217;s political action committees (PACs) allegedly assisted the former president in covering his growing legal expenses through questionable methods.
A bulk of his legal expenses, approximately $8 million, have been funneled to unidentified party or parties through Red Curve Solutions, a firm that handles his political accounting, Mary Trump said, citing a detailed report by Roger Sollenberger. 
&#8220;This setup purportedly obscures the real recipients of Donald's legal payments, potentially violating federal law and the restrictions on corporate political contributions,&#8221; she said.
In the Federal Election Commission filings, these payments were recorded as &#8220;reimbursements&#8221; for legal expenses and fees, Sollenberger said in the report.
&#8220;The fact that such a large sum of money is being funneled through a third party, raises several red flags,&#8221; Mary Trump said. While the FEC has strict rules regarding transparency in campaign finance in order to prevent corruption and ensure the integrity of the political system, the siphoning of funds by Donald Trump&#8217;s PACs suggests a &#8220;deliberate attempt to obscure the flow of funds in order to hide the true recipients of these payments,&#8221; she said.
Violation of FEC rules would represent a serious breach of ethics and, potentially,&nbsp;a criminal act, she added.
With Red Curve Solutions serving merely as a conduit for these funds, it isn&#8217;t yet known who the ultimate beneficiaries were, Mary Trump said. 
&#8220;The use of a middleman suggests a desire to obscure the true recipients of the funds, to hide the true nature of these transactions,&#8221; she added.
Mary Trump noted that the Campaign Legal Center, a nonpartisan organization dedicated to advancing democracy through law, has already filed a complaint with the FEC. 
&#8220;If it's discovered that these payments are in violation of campaign finance laws, it could result in hefty fines and even criminal charges,&#8221; she said.
See Also:<a href="https://www.benzinga.com/news/24/04/38454052/just-shocked-doj-veteran-says-potential-scotus-suprise-over-trumps-immunity-claim-shows-how-inured-w"> &#8216;Just Shocked:&#8217; DOJ Veteran Says Potential SCOTUS Suprise Over Trump&#8217;s Immunity Claim Shows &#8216;How Inured We Are To Sort Of Trumpism Overtaking What This Country Is Supposed To Stand For&#8217;</a>
Week&#8217;s Legal Travails: In a <a href="https://marytrump.substack.com/p/the-5-court-updates-you-need-to-see?utm_source=post-email-title&amp;publication_id=559646&amp;post_id=144011184&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=rkloa&amp;triedRedirect=true&amp;utm_medium=email">separate</a> post, Mary Trump stated that Donald Trump faced two significant cases this week: the election interference case in New York City and the Supreme Court hearing to determine his immunity from alleged federal crimes.
The psychologist said the Supreme Court could rule in favor of her uncle but it may not help him in the short run. 
Mary Trump said &#8220;in a sane country, this case never would have made it to the Supreme Court. It's a&nbsp; ludicrous argument being made on behalf of a ludicrous defendant.&#8221; 
&#8220;The concept of immunity itself goes against one of this country's most fundamental principles:&nbsp;no president is above the law,&#8221; she said.
Despite the week&#8217;s &#8220;debacle in the Supreme Court being a win of sorts for Donald, there's a lot more going on that is not in his favor,&#8221; the psychologist said. 
&#8220;Because no matter what happens at the federal level, and no matter how the Court rules, Donald cannot be pardoned for state crimes,&#8221; she said.
&#8220;The stakes in these state trials — Georgia, and particularly New York — are incredibly high. But the cases against him are also very strong.&#8221;
Delving into the <a href="https://www.benzinga.com/news/24/04/38475895/in-week-1-of-donald-trumps-hush-money-trial-a-former-tabloid-exec-revealed-how-ex-president-tried-to">New York hush-money case, </a>Mary Trump said, &#8220;Donald's legal quagmire deepens.&#8221;
&#8220;In the New York case, prosecutors have been constructing a robust case, which the defense has, so far, been unable to challenge effectively,&#8221; she said, adding that &#8220;[we're] just seeing the tip of the iceberg and we have another four to six weeks to go, with testimony to be heard, potentially from Michael Cohen, Karen McDougal, and others. But at least the wheels of justice are turning in New York.&#8221;
Read Next: <a href="https://www.benzinga.com/best-penny-stocks">Best Penny Stocks</a>
Photo: Shutterstock

Media

Trump's Niece Says Ex-President Could Face Criminal Charges Over His PACs' Sketchy Transactions: 'Donald's Legal Quagmire Deepens'

With President Joe Biden and his predecessor Donald Trump all but certain to face off in the 2024 election, predicting <a href="https://www.benzinga.com/news/24/04/38348277/trump-vs-biden-nationwide-poll-shows-key-issue-decidedly-tilts-equation-in-favor-of-one-candidate">the potential outcome has proven challenging</a>. Drawing inference from historical trends, poll results released Friday provided a hint at what could come to pass.
Biden&#8217;s Chances: Biden had a 38.7% average job approval rating in his 13th quarter in office, the lowest among the nine past presidents elected to the their first terms, <a href="https://news.gallup.com/poll/644252/biden-13th-quarter-approval-average-lowest-historically.aspx">said</a> Gallup. The analytics firm noted that none of the other nine presidents elected to their first term since Dwight Eisenhower (1956) had lower rating than Biden.
The results were based on Gallup's latest poll conducted April 1-22.
The previous lowest 13th quarter average approval rating was held by George H.W. Bush with a score of 41.8%.
Biden's immediate predecessors, Trump and Barack Obama, averaged 46.8% and 45.9% job approval, respectively, at the same point in their presidencies. The only other president who had a sub-50% job approval rating in the 13th quarter was Jimmy Carter.
Gallup noted that three of the four prior presidents who had 13th-quarter approval averages below 50% lost their reelection bids, with Obama being the exception. Richard Nixon, Ronald Reagan, Bill Clinton and George W. Bush had averages between 51% and 55%, while Eisenhower, had the highest average (73.2%) for a president at this stage of the presidency.
See Also: <a href="https://www.benzinga.com/news/24/04/38454052/just-shocked-doj-veteran-says-potential-scotus-suprise-over-trumps-immunity-claim-shows-how-inured-w">&#8216;Just Shocked:&#8217; DOJ Veteran Says Potential SCOTUS Suprise Over Trump&#8217;s Immunity Claim Shows &#8216;How Inured We Are To Sort Of Trumpism Overtaking What This Country Is Supposed To Stand For&#8217;</a>
On Downhill: The 13th-quarter rating is the lowest of Biden&#8217;s presidency to date, only slightly lower than the previous quarter's 39%.Biden averaged over 50% approval during his first two quarters in office, but since then, the readings have hovered around 40%.
According to the poll, Biden&#8217;s standing was very weak among Republicans, with just 2% GOP voters approving his job as president. It was also weak among independents (at 33%), although 83% of Democrats continued to evaluate Biden's performance positively.
&#8220;With about six months remaining before Election Day, Biden stands in a weaker position than any prior incumbent, and thus faces a taller task than they did in getting reelected,&#8221; Gallup said.
Read Next:<a href="https://www.benzinga.com/money/best-depression-stocks"> Best Depression Stocks</a>
Photo: Shutterstock

Biden Vs. Trump Contest Could Be Lost Cause For One Candidate If History Were Anything To Go By, According To Pollster

The CEO of Tesla Inc, Elon Musk, has moved ahead of Meta CEO Mark Zuckerberg to claim the title of the world&#39;s third-richest billionaire, following <a href="https://www.benzinga.com/news/23/06/32999351/musk-says-cage-fight-with-zuckerberg-might-actually-happen">a resurgence in Tesla&#39;s stock value.</a>
What Happened: According to a<a href="http://www.bloomberg.com/billionaires/"> recent </a>Bloomberg Billionaires Index, Musk&#39;s net worth has climbed to $185 billion, marking an almost 9% surge from earlier this week.
This increase positions him ahead of Zuckerberg, whose net worth is now $157 billion, a result of Meta&#39;s disappointing earnings that caused a $14 billion dent in Zuckerberg&#39;s wealth.
This shift in billionaire rankings follows Zuckerberg&#39;s overtaking of Musk earlier this month, marking the first occurrence since 2020.
Despite a 31% dip in Tesla&#39;s shares year to date, they have seen an over 18% rise since Tuesday&#39;s earnings report. Musk&#39;s promises of new model rollouts and ramped-up production have ignited investor optimism for a Tesla comeback.
In contrast, Meta&#39;s shares have fallen nearly 11% since Wednesday&#39;s earnings report, despite a roughly 27% increase over the same period.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37193857/mark-zuckerberg-offers-why-tech-layoffs-wont-end-anytime-soon-it-was-really-tough" target="_blank">Mark Zuckerberg Offers Why Tech Layoffs Won&#39;t End Anytime Soon: &#39;It Was Really Tough&#39;</a>
Zuckerberg has cautioned investors about potential share price instability as Meta pivots towards AI adoption, a move projected to cost the company $40 billion in capital expenditures.
The competition between the two CEOs has been longstanding, escalating after Meta unveiled a Twitter rival soon after Musk acquired the social media platform in 2022.
Why It Matters: This recent shift in billionaire rankings comes amid several noteworthy&nbsp;events. In April 2024, <a href="https://www.benzinga.com/news/24/04/38348400/several-companies-under-elon-musk-billed-each-other-approximately-9-million-in-expenses-raising-seri">Tesla disclosed</a> a complex web of transactions totaling $9.1 million between Musk&#39;s various companies, including SpaceX, X (formerly Twitter), and The Boring Company. This raised questions about corporate governance.
Additionally, Musk publicly <a href="https://www.benzinga.com/news/24/04/38346514/elon-musk-voices-opposition-to-potential-tiktok-ban-it-is-not-what-america-stands-for">opposed a proposed TikTok ban</a> in the U.S., stating that it contradicts the principles of free speech and expression.
On the other end, Zuckerberg <a href="https://www.benzinga.com/news/24/02/37193857/mark-zuckerberg-offers-why-tech-layoffs-wont-end-anytime-soon-it-was-really-tough">shed light on the ongoing trend of layoffs</a> within the tech industry in February 2024, attributing it to a shift towards more efficient operational models. This came as Meta&#39;s stock reached an all-time high following significant staff reductions.
Read Next: <a href="https://www.benzinga.com/news/24/04/38134183/tech-titans-clash-mark-zuckerberg-rises-as-elon-musk-falters-in-billionaire-rankings">Tech Titans Clash: Mark Zuckerberg Rises As Elon Musk Falters In Billionaire Rankings</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Elon Musk Overtakes Mark Zuckerberg As World's Third-Richest Amid Stock Market Shake-Up

Former Attorney General Bill Barr has announced his intention to vote for former President&nbsp;Donald Trump in the 2024 election, <a href="https://www.benzinga.com/news/24/04/38346954/trump-in-hot-seat-in-hush-money-case-prosecutors-seek-deep-dive-into-ex-presidents-alleged-misconduc">despite his past criticism of Trump&#39;s actions.</a>
What Happened: Barr, who had previously voiced his belief that Trump &quot;shouldn&rsquo;t be anywhere near the Oval Office,&quot; stated on Friday that he believes Trump would do less damage than President Joe Biden.
His support for Trump comes despite his criticism of Trump&#39;s alleged attempts to subvert the peaceful transfer of power and the fact that Trump is facing 88 criminal counts.
During an interview on &quot;The Source,&quot; Barr confirmed his support for the Republican ticket, stating that he would vote for Trump as he believes Trump would cause less damage over four years, <a href="https://edition.cnn.com/2024/04/26/politics/barr-vote-for-trump-2024/index.html">reported&nbsp;</a>CNN.&nbsp;
&ldquo;I think that Biden is unfit for office,&rdquo; Barr told &quot;The Source.&quot; &ldquo;I think Trump would do less damage than Biden, and I think all this stuff about a threat to democracy &mdash;&nbsp;I think the real threat to democracy is the progressive movement and the Biden administration.&rdquo;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38475895/in-week-1-of-donald-trumps-hush-money-trial-a-former-tabloid-exec-revealed-how-ex-president-tried-to">In Week 1 Of Donald Trump&#39;s Hush Money Trial, A Former Tabloid Exec Revealed How Ex-President Tried To Suppress Damaging Stories</a>
Barr&#39;s public support for Trump&nbsp;came&nbsp;a day after the Supreme Court heard arguments in the election subversion case, questioning whether presidents should have absolute immunity from criminal prosecution for their actions while in office.
&ldquo;I think the real threat to democracy is the progressive movement and the Biden administration,&rdquo; Barr said.
Why It Matters: Earlier in the year, Trump had&nbsp;<a href="http://www.benzinga.com/news/24/01/36442249/trump-privately-worries-over-ballot-eligibility-as-supreme-court-decision-looms">privately expressed&nbsp;apprehension</a> about a potential Supreme Court ruling that may not land in his favor amid challenges to his eligibility for the 2024 ballot.&nbsp;
Furthermore, a YouGov <a href="http://www.benzinga.com/news/24/02/36924973/trumped-up-charges-poll-reveals-what-most-americans-think-of-charges-against-embattled-ex-president">survey </a>revealed a prevailing sense of distrust among Republican voters regarding the impartiality of the legal proceedings against Trump.
Seventy-three percent of Republicans polled believe the federal case concerning election subversion has been handled unjustly.
Interestingly, Barr previously <a href="http://www.benzinga.com/news/24/03/37576742/donald-trumps-justice-department-once-stymied-a-major-investigation-into-caterpillar-says-report">played a key role </a>in defending Caterpillar during a major federal investigation. His support for Trump could be seen as continuing his role in defending high-profile figures against federal investigations.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38348768/courtroom-appearances-by-these-two-members-of-donald-trumps-family-could-help-him-in-hush-money-tria" target="_blank">Courtroom Appearances By These Two Members Of Donald Trump&#39;s Family Could Help Him In Hush-Money Trial, Say Experts</a>
Photo: Shutterstock

Former AG Bill Barr Announces Intention To Vote For Donald Trump, Despite Previously Saying Ex-President Shouldn't Be 'Anywhere Near The Oval Office'

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