Body and Mind Stock (OTC:BMMJ), Trade Ideas

Body and Mind Inc is a multi-state cannabis operator, which has retail, distribution, cultivation, and/or processing operations in Nevada, California, Arkansas, Ohio and Illinois. It has developed the marquis lifestyle Body and Mind brand in Nevada with penetration into dispensaries and has expanded its brand and products to dispensaries in California. The Body and Mind brand appeals to a wide range of cannabis consumers with products including flowers, oils, extracts (wax, live resin, ambrosia), and edibles. The Company Operates in Three segments; Wholesale, Retail, and All others. The Majority of revenue is derived from the Retail segment.

cannabis money (bulkbuddy, PublicDomainPictures by Pixabay)(20)

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BMMJ

CSE:BAMM

Body and Mind announced on Tuesday its financial results for the second quarter of fiscal year 2024 ended Jan. 31, 2024, revealing a 94% year-over-year drop in net loss. The company said that during the quarter it has entered into a definitive agreement to divest its Nevada cultivation and production operations for a total consideration of $2 million to fund its projects in Illinois and New Jersey. According to CEO Michael Mills these two markets &#34;continue to be underserved and offer significant opportunities for revenue growth as we expand our brand and bring our skilled teams to these new markets.&#34; &#34;The most recent quarter reflects our work to improve financial performance, improve margins and streamline our operations to support building our operations in Illinois and New Jersey,&#34; Mills said. &#34;Nevada&#39;s wholesale pricing challenges and wholesale tax structure made it difficult to see the Company&#39;s Nevada operations generating sufficient profits over the long term when compared with the opportunity presented by taking the proceeds from Nevada&#39;s sale and continuing to build on our Illinois and New Jersey opportunities.&#34;

Body and Mind&#39;s Q2 Revenue Flat YoY, Narrows Loss By 94%

cannabisfinance

Body and Mind&#39;s Q1 2024 financial turnaround: Ohio dispensary sale leads to notable net income increase and strategic debt repayment.

Body And Mind&#39;s Q1 2024 Earnings: Ohio Sale Sparks Net Income Jump

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Markets

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) announced its financial results on Tuesday for the fiscal year ended July 31, 2023, revealing a 2.4% year-over-year decrease to $22.8 million.

Body and Mind Reports Revenue Dip In 2023 But CEO Is Optimistic About Future Growth

Body and Mind Inc

According to a new study published in Science Advances, fifty-six brands led by&nbsp;Coca-Cola&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>), PepsiCo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>), and Nestl&eacute; (SWX: NESN) are responsible for more than half of the plastic pollution found across the globe.
The study reveals a direct correlation between the companies&#39; annual plastic production and their contribution to branded plastic pollution.
Annually, about 400 million tons&nbsp;of plastic waste are generated, most of which does not decompose, biodegrade&nbsp;or compost. Instead it accumulates&nbsp;in landfills and aquatic environments.
Alarmingly, the equivalent of<a href="https://www.unep.org/plastic-pollution"> 2,000 garbage trucks full of plastic </a>is dumped into the world&#39;s oceans, rivers&nbsp;and lakes daily, leading to increased human ingestion of <a href="https://www.axios.com/2024/01/10/plastic-particles-bottled-water-pollution">nanoplastic particles</a>, with potential health risks yet to be fully understood.
This extensive <a href="https://www.washingtonpost.com/climate-environment/2024/04/24/plastic-pollution-companies-responsible/">research</a> involved over 100,000 volunteers worldwide who cataloged 1.8 million pieces of plastic waste, underscoring the significant environmental impact of these major corporations.
<h3>Corporate Responses And Hemp Bioplastics</h3>
To address their environmental impacts, Coca-Cola has pledged to make its packaging fully recyclable by 2025 and to use at least 50% recycled materials by 2030. Similarly, PepsiCo and Nestl&eacute; are pushing for stronger global policies on plastic waste management.
However, the <a href="https://www.science.org/doi/10.1126/sciadv.adj8275">study suggests</a> traditional strategies may be insufficient. This has spurred interest in sustainable alternatives like hemp bioplastics, which are biodegradable and offer a <a href="https://www.benzinga.com/general/biotech/24/02/37271000/u-s-army-invests-1-9m-to-develop-hemp-manufactured-buildings-for-military-operations">reduced environmental footprint</a>, potentially revolutionizing the packaging industry.
<h3>Why Hemp Is An Alternative To Plastics?</h3>
Hemp, a sustainable and rapidly renewable resource, can be transformed into bioplastics that are both<a href="https://www.benzinga.com/markets/emerging-markets/17/05/9405826/why-hemp-could-be-the-future-of-plastics"> biodegradable</a> and non-toxic.
Unlike traditional plastics derived from fossil fuels, hemp bioplastics decompose naturally, leaving minimal environmental impact. This makes hemp an appealing option for companies looking to reduce their ecological footprint and comply with global sustainability standards.
Moreover, hemp bioplastics can be integrated into <a href="https://www.benzinga.com/general/biotech/24/04/38367354/ohio-hemp-company-re-greening-the-rust-belt-with-bioplastics-option-for-midwest-auto-industry">existing manufacturing processes </a>without significant alterations, offering a seamless transition aeway from conventional plastics.
With their robust and durable nature, <a href="https://www.benzinga.com/topic/hemp">hemp bioplastics</a> can be used in a wide range of applications, from packaging to automotive parts, potentially revolutionizing the industry and contributing to a more <a href="https://www.benzinga.com/markets/cannabis/24/04/38327403/usda-hemp-market-report-shows-stability-and-growth-amid-challenges">sustainable future</a>.
As negotiations for a global plastics treaty continue, the role of hemp bioplastics could become central in achieving the dual goals of economic development and environmental sustainability.
Photo: AI-Generated Image.&nbsp;

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Coca-Cola, PepsiCo And Nestlé Are Top Plastic Polluters: Is Hemp The Answer To Nanoplastics In The Oceans??

Meme stocks have once again captured the spotlight in the financial market following the return of Keith Gill — known widely as &#8220;Roaring Kitty&#8221;— to social media after <a href="https://www.benzinga.com/general/gaming/24/05/38798005/roaring-kitty-doubles-down-posts-new-videos-on-x-sending-gamestops-stock-higher">a three-year hiatus. </a>
For those unfamiliar, Gill is a pivotal figure in the meme stock phenomenon that took the financial world by storm in early 2021. As an individual investor and financial analyst, he became famous for his role in the explosive rise of GameStop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GME#NASDAQ">GME</a>)&#8217;s stock price.
The struggling video game retailer saw its shares soar from under $20 to nearly $500 at their peak in January 2021, largely driven by a short squeeze on investors who had bet against the stock amid weak fundamentals. 
Unlike traditional stocks, which are influenced by fundamental analysis and corporate performance, meme stocks are often subject to rapid price changes driven by hype <a href="https://www.benzinga.com/news/24/05/38795608/gamestop-leads-roaring-rally-whats-going-on-with-meme-stocks">and mass trading actions.</a>
Gill chronicled his investment journey across various platforms, including YouTube and Reddit, notably under the username u/DeepF&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;Value on the subreddit r/WallStreetBets. His philosophy is emblematic of a broader narrative about meme stocks and the democratization of investing, illustrating how individual investors can unite to disrupt the financial status quo of seasoned and large investors.
Gill&#8217;s resurgence on X (formerly known as Twitter) on May 13, sparked a viral reaction. A posted image of a man intensely focused on a video game, adopting a serious gaming stance, served as a metaphor for Gill&#8217;s impactful return to the public eye.
The post has attracted considerable attention, amassing over 10K retweets, 24K quote tweets, 94K likes, and over 19 million views, highlighting its widespread appeal and significance.
<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"><a href="https://t.co/YgjVqtgcNS">pic.twitter.com/YgjVqtgcNS</a>
&mdash; Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1789807772542067105?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">GameStop, AMC Skyrocket</figcaption></figure>
As a result, GameStop&#8217;s share price soared by 74% on Monday, representing the fourth-largest one-day gain since the company&#8217;s IPO in 2002. This surge trails only behind the spikes of 104% on Feb. 21, 2021, 135% on Jan. 27, 2021, and 93% on Jan. 26, 2021.
Similarly, other meme-related stocks experienced significant increases. AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) saw its shares climb nearly 80%, marking its most substantial single-day rise since June 2021, the third strongest in its history. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-1024x495.png" alt="" class="wp-image-335826" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Meme-Stock Related ETFs Overview</h1>
Investors looking to capitalize on the volatility and potential high returns of these stocks can consider meme-stock-related exchange-traded funds (ETFs).

<h1 class="wp-block-heading">Schwab Crypto Thematic ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STCE#NYSE">STCE</a>)</h1>
<ul>
<li>Description: This ETF invests in key cryptocurrency companies and includes meme-related stocks, blending digital finance with viral market trends.</li>
<li>Top Holdings: MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), Marathon Digital Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)</li>
<li>1-Day Return (May 13, 2024): 2.99%</li>
<li>Top Performers: AMC Entertainment Holdings, Inc., GameStop Corp., Beyond, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>)</li>
</ul>

<h1 class="wp-block-heading">SoFi Social 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFYF#NYSE">SFYF</a>)</h1>
<ul>
<li>Description: Tracks the top 50 stocks held in SoFi's self-directed accounts, highlighting popular choices among retail investors, including frequent meme stock picks.</li>
<li>Top Holdings: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>1-Day Return (May 13, 2024): 2.1%</li>
<li>Top Performers: GameStop Corp., Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</li>
</ul>

<h1 class="wp-block-heading">VanEck Vectors Social Sentiment ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUZZ#NYSE">BUZZ</a>)</h1>
<ul>
<li>Description: Utilizes AI to analyze online content and select the 75 large-cap stocks with the most positive investor sentiment each month, reflecting current market trends.</li>
<li>Top Holdings: Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</li>
<li>1-Day Return (May 13, 2024): 0.9%</li>
<li>Top Performers: Rivian Automotive, Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</li>
</ul>

Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38792909/bitcoin-mining-stocks-marathon-digital-riot-platforms-and-cleanspark-are-moving-monday-wha">Bitcoin Mining Stocks Marathon Digital, Riot Platforms And CleanSpark Are Moving Monday: What&#8217;s Going On?</a>
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As 'Roaring Kitty' Returns, Here Are 3 ETFs To Leverage The 2024 Meme Stock Wave

The Martha's Vineyard island in <a href="https://www.benzinga.com/topic/massachusetts-cannabis" target="_blank" rel="noreferrer noopener">Massachusetts</a> faces a cannabis crisis as Fine Fettle, the island&#8217;s only cannabis cultivation and dispensary operation, plans to close. State regulators are exploring alternatives to prevent a supply shortage that could push consumers towards the black market.
<h3 class="wp-block-heading">Impact Of Federal Regulations On Island Cannabis Supply</h3>
The state's Cannabis Control Commission (CCC) is leading efforts to address the logistical hurdles of transporting cannabis to the island. Federal regulations still prohibit the transportation of cannabis over water and air, with the U.S. Coast Guard enforcing these laws, <a href="https://www.benzinga.com/markets/cannabis/24/05/38678043/dea-and-cannabis-rescheduling-a-rollercoaster-ride-you-dont-want-to-miss-but-keep-your-seatbelts" target="_blank" rel="noreferrer noopener">as cannabis remains classified as an illegal substance</a>. Even though Martha&#8217;s Vineyard is just four miles from the Massachusetts mainland, it is only accessible by ferry or plane. Nevertheless, dispensaries on Martha&#8217;s Vineyard rely on locally grown cannabis, a supply that is set to disappear with Fine Fettle&#8217;s impending closure, <a href="https://vineyardgazette.com/news/2024/05/10/state-prioritizes-vineyard-marijuana-access-wake-closure?utm_source=www.cultivated.news&amp;utm_medium=newsletter&amp;utm_campaign=big-shakeup-for-new-york-cannabis" target="_blank" rel="noreferrer noopener">reported</a> The Vineyard Gazette.
"We do have quite a bit of inventory, and it's fresh and good," <a href="https://vineyardgazette.com/news/2024/05/03/islands-only-marijuana-grower-close" target="_blank" rel="noreferrer noopener">said</a> Benjamin Zachs, president of Connecticut-based Fine Fettle. He estimated the dispensary would deplete its inventory and likely close by this fall.
Discover how innovative regulatory solutions and strategic state responses, like those being considered for Martha&#8217;s Vineyard, are shaping the future of the cannabis industry. Join the conversation at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players, experts, advocates, and policymakers. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
<h3 class="wp-block-heading">Operational Hurdles Leading To Fine Fettle's Closure</h3>
Fine Fettle&#8217;s closure is attributed to financial struggles unique to operating on an island, including higher costs, competitive pricing from mainland dispensaries and seasonal demand fluctuations. Despite efforts to maintain viability, Zachs <a href="https://www.mvtimes.com/2024/05/03/vineyard-marijuana-dispensary-close/">told</a> The Martha's Vineyard Times, "We haven't been able to crack the nut to not lose money."
During a recent commission meeting, the pressing nature of the situation was outlined by commissioner Kimberly Roy, &#8220;If we do nothing, you are going to have 234 patients with no medical access on the Island. That's the reality of it.&#8221; Martha&#8217;s Vineyard has a year-round population of around 20,000 people.
<h3 class="wp-block-heading">Supply Chain Regulatory Challenges</h3>
Efforts to ensure continuity of supply are not new. Massachusetts had previously relaxed testing requirements specifically for island communities after 2012 when medical <a href="https://www.benzinga.com/topic/cannabis-legalization" target="_blank" rel="noreferrer noopener">cannabis was legalized</a>. Regulations, designed primarily for motor vehicle transport, do not accommodate ferry or aerial deliveries, which are the only means to bridge the gap between the mainland and Martha&#8217;s Vineyard.
Furthermore, comparative solutions from other states like <a href="https://www.benzinga.com/topic/new-york-cannabis" target="_blank" rel="noreferrer noopener">New York</a>, which permits cannabis transportation via ferries, and <a href="https://www.benzinga.com/topic/maine-cannabis" target="_blank" rel="noreferrer noopener">Maine</a>, which is addressing similar challenges for its coastal islands, are being reviewed for applicability. In Alaska where many areas are accessible only by air or water <a href="https://www.benzinga.com/markets/cannabis/24/04/38472175/federal-court-to-cannabis-pilot-no-more-transporting-weed-around-alaska-faa-revokes-license-thou" target="_blank" rel="noreferrer noopener">dispensaries transport products on commercial flights</a>. The CCC is investigating these models to adapt them to Massachusetts' legal framework.
As the state Commission prepares for a forthcoming meeting to engage with local authorities and stakeholders, the overarching goal is clear: establishing a viable supply chain that ensures safe, <a href="https://www.benzinga.com/markets/cannabis/24/04/38022665/massachusetts-cannabis-market-hits-record-highs-faces-regulatory-challenges-and-more" target="_blank" rel="noreferrer noopener">legal access to cannabis for residents</a> and deters illegal market growth.

Government

Regulations

Martha's Vineyard Has A Cannabis Crisis: Medical, Recreational Users Could Run Out Of Access By Fall As Island's Sole Producer Will Close Soon

Bioceres Crop Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOX#NASDAQ">BIOX</a>) reported quarterly earnings of $0.15 per share which missed the analyst consensus estimate of $0.16 by 6.25 percent. This is a 65.12 percent decrease over earnings of $0.43 per share from the same period last year. The company reported quarterly sales of $84.000 million which missed the analyst consensus estimate of $98.500 million by 14.72 percent. This is a 10.26 percent decrease over sales of $93.605 million the same period last year.

Earnings Misses

BIOX

Bioceres Crop Solutions Q3 2024 GAAP EPS $0.15 Misses $0.16 Estimate, Sales $84.000M Miss $98.500M Estimate

Fractyl Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GUTS#NASDAQ">GUTS</a>) reported quarterly losses of $(0.17) per share. This is a 97.84 percent increase over losses of $(7.87) per share from the same period last year. The company reported $33.000 thousand in sales this quarter. This is a 560.00 percent increase over sales of $5.000 thousand the same period last year.

GUTS

Fractyl Health Q1 2024 GAAP EPS $(0.17) Up From $(7.87) YoY, Sales $33.000K Up From $5.000K YoY

Pembina Pipeline sais&nbsp;Toronto Stock Exchange has approved the renewal of normal course issuer bid to purchase up to five percent of its issued and outstanding common shares.

Buybacks

Pembina Pipeline Reports Renewal Of Share Repurchase Program

The shares are scheduled to begin trading on the Nasdaq Global Market on May 14, 2024, under the ticker symbol &quot;BTOC.&quot; The offering is expected to close on or about May 15, 2024, subject to customary closing conditions.

IPOs

BTOC

Armlogi Holding Prices IPO Of 1.60M Shares Of Common Stock At $5.00 Per Share

Adjusted EBITDA amounted&nbsp;$276 million&nbsp;in the&nbsp;first quarter&nbsp;of 2024, a&nbsp;37.6%&nbsp;like-for-like growth versus&nbsp;Q1&nbsp;2023, due to the solid growth of the Toll Roads and Construction divisions.

Ferrovial Q1 Revenue Increase 3.5% In Like-For-like Terms

In a surprising turn of events, Games Global Ltd, a UK-based company known for its online casino games, has decided to pull its initial public offering (IPO) from <a href="https://www.benzinga.com/topic/initial-public-offering">the U.S</a>.
What Happened: As reported by Reuters, the company announced this decision on Monday, without providing any specific reasons for the withdrawal.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38776144/jpmorgan-reports-760k-spot-bitcoin-etf-holdings-even-as-ceo-jamie-dimon-called-for-shuttin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan Reports $760K Spot Bitcoin ETF Holdings Even As CEO Jamie Dimon Called For Shutting Down Crypto</a>
The company, which was founded in 2021, had planned to raise $254 million through its IPO. The proposed price range was <a href="https://www.benzinga.com/insights/ipos/24/05/38793038/preview-games-global-limited-set-to-ipo-tomorrow">$16 to $19 per share</a>, which would have valued the company at around $2.0 billion. The IPO was expected to be listed on the NYSE under the symbol GGL.
Why It Matters: Games Global&#8217;s decision to withdraw its IPO comes as a surprise, especially after the company had set the terms for its IPO just a week ago. The company announced plans to offer 14.5 million shares, with 59% of the <a href="https://www.renaissancecapital.com/IPO-Center/News/104515/Online-casino-games-developer-Games-Global-sets-terms-for-$254-million-US-I">shares</a> being secondary.
Games Global&#8217;s decision to withdraw its IPO also comes after the company had secured an exclusive deal with the UFC for branded slot games, as reported by <a href="https://news.worldcasinodirectory.com/games-global-secures-exclusive-deal-with-ufc-for-branded-slot-games-113295">World</a> Casino Directory. This partnership is expected to further boost the company&#8217;s standing in the online gaming industry.
Before that, Games Global and AreaVegas Games launched a new game, Area Link&#x2122; <a href="https://europeangaming.eu/portal/latest-news/2024/05/07/158478/games-global-and-areavegas-games-unleash-the-mythical-beast-in-area-link-dragon/">Dragon</a>, adding to its extensive portfolio of more than 1,300 games.
The reasons behind the IPO withdrawal remain unclear.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Gaming

Topics

Global

Games Global Withdraws US IPO Plan

Liquidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LQDA#NASDAQ">LQDA</a>) reported quarterly losses of $(0.54) per share which missed the analyst consensus estimate of $(0.30) by 80 percent. This is a 200 percent decrease over losses of $(0.18) per share from the same period last year. The company reported quarterly sales of $2.972 million which missed the analyst consensus estimate of $4.388 million by 32.28 percent. This is a 33.85 percent decrease over sales of $4.493 million the same period last year.

LQDA

Liquidia Q1 2024 GAAP EPS $(0.54) Misses $(0.30) Estimate, Sales $2.972M Miss $4.388M Estimate

Encore Capital priced its offering of&nbsp;$500.0 million&nbsp;aggregate principal amount of&nbsp;8.500%&nbsp;senior secured notes due 2030, which was upsized by&nbsp;$100.0 million&nbsp;from&nbsp;$400.0 million.

Offerings

ECPG

Encore Capital Repots Pricing Of Upsized Senior Secured Notes Offering

The transaction, which raised&nbsp;$350 million&nbsp;in proceeds from a group of leading investors, was enabled by a business combination with Screaming Eagle Acquisition, whose shareholders approved the deal at an extraordinary general meeting on&nbsp;May 7, 2024.&nbsp;&nbsp;
The transaction is a major step in executing Lionsgate&#39;s plan to fully separate its Studio and STARZ businesses.&nbsp; It values Lionsgate Studios at an enterprise value of&nbsp;$4.6 billion.
The Company noted that it continues to anticipate that the full separation will occur by the end of calendar 2024.

Lions Gate Entertainment Corporation Class A Voting Shares

LGF/A

Lionsgate Studios To Launch Tomorrow, May 14, As Standalone Publicly-Traded Company; Single Class Of Stock To Begin Trading On NASDAQ Under Ticker Symbol 'LION'

DA Davidson analyst Linda Bolton Weiser maintains Beauty Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKIN#NASDAQ">SKIN</a>) with a Buy and maintains $5 price target.

Price Target

Analyst Ratings

SKIN

DA Davidson Maintains Buy on Beauty Health, Maintains $5 Price Target

By applying Yext AI models to the largest, most comprehensive set of structured business data, Listings Recommendations proactively generates timely, accurate and relevant suggestions for improving listings performance.

YEXT

Yext Announces Listings Recommendations, Delivering AI-Led Insights To Help Customers On Discoverability And Customer Engagement

Small Cap Consumer Research analyst Eric Beder maintains Lands' End (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) with a Buy and maintains $14 price target.

Small Cap Consumer Research Maintains Buy on Lands' End, Maintains $14 Price Target

Lithium Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAAC#NYSE">LAAC</a>) reported quarterly losses of $(0.06) per share which missed the analyst consensus estimate of $0.04 by 250 percent. This is a 50 percent decrease over losses of $(0.04) per share from the same period last year.

LAAC

Lithium Americas Q1 EPS $(0.06) Misses $0.04 Estimate

In March 2024, HeartCore announced the sale of a Go IPO client&#39;s warrant to a Japanese financial institution for&nbsp;$9 million. During the&nbsp;first quarter&nbsp;ended March 31, 2024,&nbsp;$5 million&nbsp;was received, with the remaining&nbsp;$4 million&nbsp;received in April 2024.
With referral fees of&nbsp;$3.36 million&nbsp;having been made to So Management Inc. for sourcing this lead, the Company generated&nbsp;$5.64 million&nbsp;in net sales. However, due to specific accounting treatments and stipulations in the warrant agreement, HeartCore will not recognize the&nbsp;$9 million&nbsp;as revenue on the balance sheet until the client becomes a publicly listed company, which is expected to occur in Fall 2024. Until then, the&nbsp;$9 million&nbsp;will be classified as debt on the balance sheet.

HTCR

HeartCore Updates On March Go IPO Warrant Sale; Says Outlook On IPO Market Remains Positive

Key witness Michael Cohen testified in the hush money criminal trial against former President Donald Trump on Monday, sharing details of his role in paying to get rid of several stories that could harm Trump&#8217;s chances in <a href="https://www.benzinga.com/general/politics/24/05/38794046/michael-cohen-says-he-never-wanted-to-go-into-law-was-offered-375k-to-work-for-donald-trump-goin">the 2016 election.</a>
What Happened: On Monday, Cohen testified to his involvement in making payments to several parties in<a href="https://www.benzinga.com/general/politics/24/04/38251447/trump-hush-money-trial-preview-key-witnesses-2024-campaign-impact-prison-time-trump-could-face-i"> a hush money scheme</a> that could help eliminate bad stories that would hurt Trump in the election from being made public.
Trump faces criminal charges related to falsifying business records for the alleged hush money payments.
Cohen said that he was called by Trump on his bodyguard Keith Schiller's phone angry that a story by the Wall Street Journal was published about payments made by American Media to Karen McDougal, a former Playboy model who sold a story alleging an affair with Trump.
Trump's former lawyer recalled talking to David Pecker and Hope Hicks and was told "to get control over the release of that article,&#8221; <a href="https://www.nbcnews.com/politics/donald-trump/live-blog/trump-hush-money-trial-day-16-michael-cohen-live-updates-rcna151898">according </a>to NBC News. 
Cohen said a $130,000 payment he wired to lawyer Keith Davidson on Oct. 27, 2016 was marked "retainer," but was actually part of the hush money agreement with Stormy Daniels, who was represented by Davidson.
"It was in order to pay Stormy Daniels to execute the NDA and to obtain the story."
Cohen said he would not make the payment without getting approval from Trump because he wanted to make sure he would be paid back.
The former Trump lawyer testified Trump told him that he was advised by some friends and "very smart people" to just pay the money.
"There's no reason to keep this thing out there. Just do it," Cohen recalled Trump saying.
Cohen testified Trump Organization Chief Financial Officer Allen Weisselberg told him he would be paid back for making the payment to Daniels.
"We'll make sure you get paid back," Cohen said Weisselberg told him. "Don't worry Michael. You will get paid back."
Cohen said he was told to try and delay payment until after the election. The thought was that if Trump won the election, the story wouldn't matter and if Trump lost he wouldn't care if the story became public.
These details from the prosecution could point to the role the story had in influencing the 2016 presidential election as alleged.
Cohen said Trump told him previously to "take care of it," when asked about the Daniels story.
The former Trump lawyer testified to helping facilitate payment for the life rights to McDougal's story.
"What I was doing, I was doing at the direction of and for the benefit of Mr. Trump."
An audio clip was played Monday that featured Trump, Cohen and Weisselberg discussing a payment. Cohen said the conversation he recorded was about purchasing McDougal's life rights and was the only conversation with Trump he recorded.
Related Link: <a href="https://www.benzinga.com/general/politics/24/05/38749159/stormy-daniels-says-she-never-asked-for-money-in-trump-hush-money-case-former-president-declares">Stormy Daniels Says She &#8216;Never Asked For Money&#8217; In Trump Hush Money Case, Former President Declares He&#8217;s &#8216;So Innocent&#8217;</a>
What Else Happened: Cohen detailed banking documents and the execution of the deal with Daniels on Monday in detail for the jury.
Cohen testified that after Trump won the 2016 election, he was out of a job. Cohen said he pitched becoming the personal attorney for Trump, but wasn't hired.
"My service was no longer necessary as I was special counsel to Mr. Trump, and he was president-elect," Cohen said.
Cohen said he didn't want the role of Chief of Staff but would've liked to have been offered the position.
"I didn't want the role, I didn't believe that the role was right for me or that I was even competent to be chief of staff. I just wanted my name to have been included. It was more about my ego than anything."
Cohen also shared that he saw his bonus slashed at the end of 2016 and was angry and hurt.
"I actually had to do a double-take."
Cohen is expected to be on the stand again on Tuesday and will be one of the last witnesses from the prosecution in the multi-week trial.
Read Next: <a href="https://www.benzinga.com/general/politics/24/05/38626165/hope-hicks-testifies-on-trumps-ex-lawyer-michael-cohens-mr-fix-it-moniker-only-because-he-broke-">Hope Hicks Testifies On Trump&#8217;s Ex-Lawyer Michael Cohen&#8217;s &#8216;Mr. Fix It&#8217; Moniker: &#8216;Only Because He Broke It First&#8217;</a>
Photo: a katz via Shutterstock

Politics

Legal

Trump's Erstwhile Lawyer Testifies To Former President's Involvement In Hush Money Payment: 'Don't Worry Michael, You Will Get Paid Back'

Guidance

American Healthcare REIT Says FY24 Guidance Remains Unchanged; Sees NFFO Per Share Of $1.18-$1.24, Est $1.21

MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) has outperformed the market over the past 10 years by 17.17% on an annualized basis producing an average annual return of 27.92%. Currently, MSCI has a market capitalization of $38.47 billion. 
Buying $1000 In MSCI: If an investor had bought $1000 of MSCI stock 10 years ago, it would be worth $11,409.07 today based on a price of $485.57 for MSCI at the time of writing.
<h3>MSCI's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715635817_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.

MSCI

$1000 Invested In MSCI 10 Years Ago Would Be Worth This Much Today

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Bengal Capital FY2023 Letter

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How Retail Investors Should Evaluate Cannabis Stocks

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BaM Reports Improved Q2 Margins, Refocuses Strategy

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Is Body and Mind Inc (BMMJ) Stock at the Top of the Drug Manufacturers - Specialty & Generic Industry?

Body and Mind reports Q2 results

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