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Coca-Cola HBC is the third-largest bottling partner in the Coca-Cola system by volume, behind Coca-Cola FEMSA and Coca-Cola Europacific Partners. In 2023, CCHBC sold 2.8 billion unit cases of beverages. For context, Coke's largest bottler, Coke FEMSA, sold 4 billion unit cases in Latin America, and the second-largest—CCEP, serving Europe, Southeast Asia, and the South Pacific region—sold 3.3 billion unit cases. There is a long tail of Coke distributors, including brewers and independent operators with very small distribution territories.CCHBC is listed on the London Stock Exchange. Kar-Tess, a Luxembourg-based holding company, owns 23% of the equity of CCHBC, and Coca-Cola holds a further 21%. The remaining 56% is free float.

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Former President Donald Trump's <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">Saturday announcement</a> that he is throwing his support behind <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">Florida&#8217;s Amendment 3,</a> the proposed constitutional amendment that seeks to legalize recreational marijuana, elicited an immediate response from the cannabis industry. 
<a href="https://www.benzinga.com/topic/kim-rivers">Kim Rivers</a>,&nbsp;CEO of&nbsp; Florida&#8217;s largest medical marijuana company&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative" target="_blank" rel="noreferrer noopener">Trulieve</a>&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), which has been a <a href="https://www.benzinga.com/markets/cannabis/24/08/40486924/ken-griffins-12m-donation-and-desantiss-anti-cannabis-pacs-face-off-against-pro-legalization-gro">huge financial backer</a> of Amendment 3, thanked the former president Trump.
Her comments on X were followed by former Republican Party of Florida Chair&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/40085870/ron-desantis-and-gop-stalwart-feud-over-cannabis-legalization-trump-floridas-top-cops-also-weigh" target="_blank" rel="noreferrer noopener">Joe Gruters who came out in favor</a>&nbsp;of cannabis legalization over the summer. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>! "We do not need to ruin lives &amp; waste Taxpayer Dollars arresting adults with personal amounts of it on them, and no one should grieve a loved one because they died from fentanyl laced marijuana."<a href="https://twitter.com/hashtag/YesOn3?src=hash&amp;ref_src=twsrc%5Etfw">#YesOn3</a> <a href="https://t.co/p5aXVSlCHQ">https://t.co/p5aXVSlCHQ</a>
&mdash; Kim Rivers (@rivers_kim) <a href="https://twitter.com/rivers_kim/status/1829895544329945322?ref_src=twsrc%5Etfw">August 31, 2024</a></blockquote>
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Boris Jordan, founder, chairman &amp; CEO of Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) pointed out what many have likely been thinking over the course of the past several months regarding the U.S. political landscape as we head into the <a href="https://www.benzinga.com/topic/2024-election">November 2024 elections</a>.
"This year&#8217;s election continues to be historic, and today we have two candidates who have publicly adopted pro-cannabis stances. It&#8217;s a milestone that both candidates are meeting U.S. voters where they&#8217;re at, as this is a bipartisan issue with the vast majority of Americans now in support of legalization in some form," said Jordan in a post on X. 
<h2 class="wp-block-heading">Trump Is Joining &#8216;Millions Of Americans&#8217; </h2>
"We welcome former President Trump&#8217;s comments on Amendment 3 in Florida, which would legalize adult use cannabis in the state. He joins millions of Americans who have reassessed their views on cannabis in recent years," said David Culver, SVP of Public Affairs for the US Cannabis Council in an email to Benzinga.
"Amendment 3 enjoys strong bipartisan support from Florida voters, and President Trump&#8217;s support could prove pivotal for meeting the 60% threshold required to become law. We look forward to hearing more from him about how he would approach cannabis reform if elected this November."
<h2 class="wp-block-heading">Governor Ron DeSantis?</h2>
So far no word from the governor who has been <a href="https://www.benzinga.com/markets/cannabis/24/07/39827912/ron-desantis-blasts-floridas-cannabis-legalization-ballot-at-rnc-it-would-allow-80-joints-a-day-">outspoken about his opposition</a> to legalizing marijuana in Florida.
<h2 class="wp-block-heading">What Trump Said </h2>
"In Florida, like so many other States that have already given their approval, personal amounts of marijuana will be legalized for adults with Amendment 3… at the same time, someone should not be a criminal in Florida, when this is legal in so many other states. We do not need to ruin lives &amp; waste Taxpayer Dollars arresting adults with personal amounts of it on them, and no one should grieve a loved one because they died from fentanyl laced marijuana," Trump wrote on his&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/113057012516008786" target="_blank" rel="noreferrer noopener">Truth Social platform</a>&nbsp;on Saturday.
Photo: Shutterstock

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Trump's Cannabis Endorsement - Marijuana Industry Responds: 'We Have Two Candidates' Who Are Pro-Marijuana

In his new book Save America, Donald Trump threatens Facebook founder Mark Zuckerberg <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">with life imprisonment</a>.
What Happened: Trump&#8217;s book contains a direct threat aimed at Zuckerberg. The ex-president accuses the Facebook founder of conspiring against him during his tenure and issues a warning of harsh repercussions if he partakes in any unlawful activities in the forthcoming 2024 Presidential Election.
In the book, beneath a photo of Zuckerberg&#8217;s White House visit with Trump, the former president noted that Zuckerberg &#8220;would visit the Oval Office to meet me&#8221; and &#8220;often brought his very kind wife to dinners, being exceptionally pleasant, yet was simultaneously scheming to implement disgraceful Lock Boxes in a genuine plot against the President.&#8221;
&#8220;He told me there was nobody like Trump on Facebook. But at the same time, and for whatever reason, steered it against me. We are watching him closely, and if he does anything illegal this time he will spend the rest of his life in prison — as will others who cheat in the 2024 Presidential Election,&#8221; Trump said as quoted <a href="https://www.mediaite.com/news/trump-threatens-mark-zuckerberg-with-prison-for-the-rest-of-his-life-if-he-uses-facebook-to-cheat-in-2024-we-are-watching-him-closely/">by</a> Mediaite. 
In a recent correspondence with House Judiciary Committee Chairman Jim Jordan, Zuckerberg confessed that Facebook had erroneously downgraded The New York Post&#8217;s contentious story about Hunter Biden&#8217;s laptop in 2020.
Also Read: <a href="https://www.benzinga.com/news/22/09/28744962/trump-says-weirdo-mark-zuckerberg-came-to-white-house-for-dinner-with-him-last-week-1">Speaking At Rally, Trump Says &#8216;Weirdo&#8217; Mark Zuckerberg Once Came To White House For Dinner</a>
The Meta Platforms CEO acknowledged the mistake and in a statement on X, he assured that the firm has updated its policies to avert such occurrences in the future.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN &#8211; Zuckerberg regrets working with the Biden-Harris administration to censor Covid era information online. <a href="https://t.co/vD4Ug5ebqh">pic.twitter.com/vD4Ug5ebqh</a>
&mdash; Disclose.tv (@disclosetv) <a href="https://twitter.com/disclosetv/status/1828208501925257631?ref_src=twsrc%5Etfw">August 26, 2024</a></blockquote>
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This is not the first instance where Trump has issued a threat to Zuckerberg. In July, on his platform Truth Social, Trump cautioned about severe measures against those involved in election fraud, indirectly referring to Zuckerberg&#8217;s investments in election infrastructure in 2020.
Why It Matters: The relationship between Trump and Zuckerberg has been fraught with tension, particularly during and after the 2020 Presidential Election. 
Trump&#8217;s accusations of election fraud and his subsequent removal from Facebook have only added fuel to the fire. 
This latest threat in Trump&#8217;s book is a clear indication of the ongoing feud between the two, with potential implications for Facebook&#8217;s role in future elections.
Read Next
<a href="https://www.benzinga.com/news/24/07/39723781/trump-threatens-to-jail-metas-mark-zuckerberg-and-election-fraudsters-if-re-elected-dont-do-it-be-ca">Trump Threatens To Jail Meta&#8217;s Mark Zuckerberg And &#8216;Election Fraudsters&#8217; If Re-Elected</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Trump Warns Zuckerberg In Latest Book, Says He Could Be In Prison For The Rest Of His Life: 'We Are Watching Him Closely'

Elon Musk has suggested that his X social medial could face similar challenges in the U.S. as it did in Brazil if <a href="https://www.benzinga.com/news/24/07/39872015/teslas-elon-musk-recently-pledged-a-huge-donation-to-donald-trump-and-the-ex-president-returned-the">Kamala Harris wins the upcoming election.</a>
What Happened: Musk voiced his concern on X. He said 2024 has witnessed unparalleled attacks on free speech and that the U.S. could experience the same if Kamala Harris and her running mate, Tim Walz, come to power.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The attacks this year on free speech are unprecedented in the 21st century. It will happen in America too if Kamala/Walz gain power. Just listen to what they've said. <a href="https://t.co/TkHxCOcs1w">https://t.co/TkHxCOcs1w</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1829624971909357576?ref_src=twsrc%5Etfw">August 30, 2024</a></blockquote>
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In Brazil, the X platform encountered legal hurdles when Supreme Court Judge Alexandre de Moraes demanded the suspension of its operations.
This move was triggered after Musk reportedly declined to assign a legal representative in Brazil. Following threats to its staff, X declared on August 17 that it would close its office in Brazil.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#120143; is the most used news source in Brazil. It is what the people want. Now, the tyrant de Voldemort is crushing the people's right to free speech. <a href="https://t.co/gR8aq3JzzU">https://t.co/gR8aq3JzzU</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1829778143449698764?ref_src=twsrc%5Etfw">August 31, 2024</a></blockquote>
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Musk earlier accused de Moraes of infringing the Constitution by attempting to block accounts of supporters of ex-President Jair Bolsonaro.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures" target="_blank" rel="noreferrer noopener">What A Second Trump Presidency Would Mean For Elon Musk And His Many Ventures</a>
De Moraes launched an investigation into allegations that Musk utilized the X platform to disseminate disinformation and destabilize democratic institutions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">They're shutting down the #1 source of truth in Brazil <a href="https://t.co/RasqcQ3ySM">https://t.co/RasqcQ3ySM</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1829628052646564181?ref_src=twsrc%5Etfw">August 30, 2024</a></blockquote>
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Why It Matters: The potential implications of this prediction are significant. If Musk&#8217;s predictions come to pass, it could mean a major shift in the landscape of social media platforms in the U.S. 
The X platform, which has been a major player in the social media space, could face legal and operational challenges similar to what it experienced in Brazil. 
This could impact the platform&#8217;s user base, revenue, and overall standing in the market. It also raises questions about the future of free speech and the role of social media platforms in political discourse.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40542027/elon-musk-asks-on-x-what-party-do-you-affiliate-with">Elon Musk Asks On X: What Party Do You Affiliate With?</a>

Tech

Elon Musk Says Kamala Harris Win Could Mean Trouble For X: 'It Will Happen In America Too If Kamala/Walz Gain Power'

The U.S. housing market has been tumultuous <a target="_blank" href="https://www.benzinga.com/economics/24/08/40259694/housing-inches-toward-buyers-market-as-mortgage-rates-fall-but-with-one-caveat-report" rel="noreferrer noopener">due to persistent interest rate hikes</a>.
However, an upward revision of<a href="https://www.benzinga.com/news/large-cap/24/08/40639345/traders-scale-back-bets-on-50-basis-point-september-rate-cut-ahead-of-fridays-key-fed-inflation-ga"> U.S. gross domestic product growth</a> in the second quarter has led speculators to reconsider their bets on a substantial 50-basis-point&nbsp;<a href="https://www.benzinga.com/markets/equities/24/08/40627044/us-dollar-oil-prices-tech-stocks-rise-as-gdp-roars-by-3-in-q2-bonds-yen-slip-as-bets-for-large-r" target="_blank" rel="noreferrer noopener">rate cut next month.</a>
With mortgage rates expected to decrease, experts advise homebuyers to act swiftly to secure the best deals before the opportunity closes.
Looking ahead, several dynamic trends are set to shape the housing market.
According to a <a href="https://www.noradarealestate.com/blog/housing-market-forecast-for-next-5-years/" target="_blank" rel="noreferrer noopener">note</a> by Norada Real Estate Investments, the market will remain strong over the next five years, though it will experience some dramatic shifts. Home prices are projected to continue rising, but at a slower pace than in recent years, offering a more gradual increase. While the supply of homes is expected to grow, addressing the previous shortage should ease the inventory crunch that has driven prices up.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40230627/a-ton-of-landlords-are-about-to-raise-rents-this-year" rel="noreferrer noopener">A Ton Of Landlords Are About To Raise Rents This Year</a>
Despite the Federal Reserve&#8217;s past rate hikes raising borrowing costs and dampening buyer enthusiasm, a gradual rate decline could rekindle demand and revitalize the market.
However, competition will remain fierce due to robust job growth, population expansion, and limited land availability.
<h3 class="wp-block-heading">2024 Forecast</h3>
The U.S. housing market is anticipated to slow, with home prices either stabilizing or seeing a slight decline. Zillow&#8217;s latest forecast for 2024 projects a 1.8% national increase in home values, indicating a period of market stability, Norada Real Estate Investments added.
Stock Opportunities
As home prices are expected to remain stable or increase modestly, homebuilders are likely to benefit from sustained demand and favorable conditions. This stability should support their revenue growth through ongoing construction and sales.
According to a June report by the<a href="https://www.nahb.org/blog/2024/06/pro-builder-housing-giants"> National Association of Home Builders</a>, the top three homebuilders by revenue, closings, and home types are:
<ul>
<li>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>): DHI stock has surged over 58% in the past year. Wells Fargo recently raised its <a href="https://www.benzinga.com/quote/DHI/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast </a>to $220 from $210 while maintaining an Overweight rating. Investors can consider the iShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) for exposure.</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>): LEN stock has risen more than 52% in the past year. Wells Fargo increased its price forecast to $195 from $185, also maintaining an <a href="https://www.benzinga.com/quote/LEN/analyst-ratings" target="_blank" rel="noreferrer noopener">Overweight </a>rating. The AdvisorShares Gerber Kawasaki ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GK#NYSE">GK</a>) offers a way to invest in Lennar.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>): TOL stock has jumped over 75% in the past year. Wedbush raised its<a href="https://www.benzinga.com/quote/TOL/analyst-ratings" target="_blank" rel="noreferrer noopener"> price forecast</a> to $148 from $120, keeping a Neutral rating. The Invesco Dorsey Wright Consumer Cyclicals Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEZ#NASDAQ">PEZ</a>) provides investment exposure.</li>
</ul>
Overall, the U.S. housing market is poised for stability this year, with modest price increases and benefits for homebuilders. Prices are projected to rise 3-5% annually through 2029, while mortgage rates are expected to stabilize above pre-pandemic levels, Norada reported. This evolving landscape, marked by a shift towards suburban and rural demand and technological advancements, will require buyers and investors to remain informed and adaptable, the report added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40649198/housing-market-in-biggest-bubble-of-all-time-warns-reventure-ceo-this-situation-is-not-sustainable" target="_blank" rel="noreferrer noopener">Housing Market In &#8216;Biggest Bubble Of All Time,&#8217; Warns Reventure CEO: &#8216;This Situation Is Not Sustainable&#8217;</a></li>
</ul>

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Rate Cuts Coming: Is It The Perfect Time For Homebuyers To Strike Big Deals?

The contentious Donald Trump biopic &#8220;The Apprentice&#8221; is scheduled for release <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">in the U.S. just ahead of the election.</a>
The Hollywood Reporter <a href="https://www.hollywoodreporter.com/movies/movie-news/trump-film-the-apprentice-release-date-awards-campaign-1235984424/" target="_blank" rel="noreferrer noopener">reports</a> that the film, which debuted at the Cannes Film Festival, will hit theaters in the U.S. on October 11, less than a month before the election.
In June, it was announced that the 80s-set drama was acquired by Briarcliff Entertainment, a relatively small company known for films like the Liam Neeson thrillers &#8220;Memory&#8221; and &#8220;The Marksman&#8221; and Michael Moore&#8217;s 2018 anti-Trump film &#8220;Fahrenheit 11/9,&#8221; <a href="https://www.theguardian.com/film/article/2024/aug/30/trump-apprentice-biopic" target="_blank" rel="noreferrer noopener">reported</a> The Guardian.
The distributor is now reportedly planning a limited festival run prior to the release, as well as an awards campaign.
Also Read:<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/05/38946127/trump-movie-director-claps-back-at-criticism-lawsuit-threats-no-nice-metaphorical-way-to-de" rel="noreferrer noopener"> Trump Movie Director Claps Back At Criticism, Lawsuit Threats: &#8216;No Nice Metaphorical Way To Deal With Fascism&#8217;</a>
The film features Sebastian Stan portraying Trump under the mentorship of Roy Cohn, played by Jeremy Strong, set in 1980s New York City.
Directed by Iranian filmmaker Ali Abbasi, known for his controversial thriller &#8220;Holy Spider&#8221; that led to death threats against lead actor Zar Amir Ebrahimi, the film promises a provocative take on its subject.
The film received a mixed reception following its premiere in May.
Peter Bradshaw of The Guardian labeled it as &#8220;obtuse and irrelevant,&#8221; while Owen Gleiberman from &#8220;Variety&#8221; commended it as &#8220;sharp and scathing.&#8221;
It also attracted significant attention for a controversial scene depicting Trump assaulting his then-wife Ivana, played by Maria Bakalova.
Trump&#8217;s legal team issued a cease-and-desist letter to the filmmakers, labeling the movie as &#8220;malicious defamation.&#8221;
During their 1990 divorce proceedings, Ivana Trump had initially accused him of sexual assault, though she later retracted the claim. Since the 1970s, at least 26 women have accused Trump of sexual assault or harassment, all of which he has denied, The Guardian added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="http://The contentious Donald Trump biopic 'The Apprentice' is scheduled for release in the US just ahead of the election. The Hollywood Reporter reports that the film, which debuted at the Cannes Film Festival, will hit theaters in the US on October 11, just weeks before the election. In June, it was announced that the 80s-set drama was acquired by Briarcliff Entertainment, a relatively small company known for films like the Liam Neeson thrillers Memory and The Marksman and Michael Moore's 2018 sequel Fahrenheit 11/9, reported The Guardian. The distributor is now reportedly planning a limited festival run prior to the release, as well as an awards campaign. Also Read: Trump Movie Director Claps Back At Criticism, Lawsuit Threats: 'No Nice Metaphorical Way To Deal With Fascism' The film features Sebastian Stan portraying Trump under the mentorship of Roy Cohn, played by Succession's Jeremy Strong, set in 1980s New York City. Directed by Iranian filmmaker Ali Abbasi, known for his controversial thriller Holy Spider that led to death threats against lead actor Zar Amir Ebrahimi, the film promises a provocative take on its subject. The film received a mixed reception following its premiere in May. Peter Bradshaw of The Guardian labeled it as &quot;obtuse and irrelevant,&quot; while Owen Gleiberman from Variety commended it as &quot;sharp and scathing.&quot; It also attracted significant attention for a controversial scene depicting Trump assaulting his then-wife Ivana, played by Maria Bakalova. Trump's legal team issued a cease-and-desist letter to the filmmakers, labeling the movie as &quot;malicious defamation.&quot; During their 1990 divorce proceedings, Ivana Trump had initially accused him of sexual assault, though she later retracted the claim. Since the 1970s, at least 26 women have accused Trump of sexual assault or harassment, all of which he has denied, The Guardian added. Read Next: Trump Campaign Threatens Legal Action Over Controversial New Biopic About Ex-President That Received 8-Minute Ovation At Cannes: 'Pure Malicious Defamation'">Trump Campaign Threatens Legal Action Over Controversial New Biopic About Ex-President That Received 8-Minute Ovation At Cannes: &#8216;Pure Malicious Defamation&#8217;</a></li>
</ul>
Photo: Shutterstock

Media

Trump Biopic 'The Apprentice' To Hit Theaters Soon Amid Legal Threats and Polarized Reviews

Mark Cuban, the billionaire entrepreneur, recently stirred up a conversation on social media platform X by asking his followers to choose between Kamala Harris and Donald Trump as role models for children.
What Happened: On Saturday, Cuban, owner of the Dallas Mavericks, posted a poll on his X account asking, &#8220;Who's persona and character would you like to see young children grow up to have: Kamala Harris or Donald Trump?&#8221; At the time of writing, Trump led the poll with 63.9% of the 538,770 votes.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Who's persona and character would you like to see young children grow up to have:
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1829677319054897617?ref_src=twsrc%5Etfw">August 31, 2024</a></blockquote>
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The poll has sparked a lively debate among Cuban&#8217;s followers, with many expressing their views on the two public figures. The poll remains open, and the final results are yet to be seen.
Also Read:&nbsp;<a href="https://www.benzinga.com/top-stories/24/06/39241650/heres-how-mark-cuban-made-91-of-his-employees-millionaires" target="_blank" rel="noreferrer noopener">Here's How Mark Cuban Made 91% Of His Employees Millionaires</a>
Why It Matters: Cuban&#8217;s poll comes at a time when the nation is deeply divided over political and social issues. 
The choice between Harris and Trump represents the stark contrast in political ideologies and leadership styles that exist in the country.
While Cuban did not provide any context for the poll, it has nonetheless sparked a conversation about the qualities we value in our leaders and role models. 
The high participation in the poll indicates the public&#8217;s interest in such discussions.
Read Next
<a href="https://www.benzinga.com/news/24/08/40666713/mark-cubans-nba-strategy-for-klay-thompson-with-mavericks-obviously-the-big-addition-was-klay-hopefu">Mark Cuban&#8217;s NBA Strategy for Klay Thompson With Mavericks: &#8216;Obviously The Big Addition Was Klay, Hopefully His Life Is Going To Be A Lot Easier&#8217;</a>

Mark Cuban Asks His 8M X Followers About Whose Character Would They Like Young Children To Grow Up Emulating Between Trump And Harris: Cuban Receives Half A Million Responses, Majority Supporting This Candidate

The latest polls indicate that Kamala Harris is either leading or tied <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">with Donald Trump</a> in key swing states.
What Happened: According to a recent poll by Morning Consult and Bloomberg, conducted from August 23 to 27, Harris leads by 2 points in Georgia and North Carolina, 3 points in Michigan, 4 points in Nevada and Pennsylvania, and a significant 8 points in Wisconsin. The two candidates are tied in Arizona.
By contrast, a poll in July showed Trump leading President Joe Biden in all these states except for Michigan and Wisconsin. The recent results are a positive sign for Harris as the campaign enters its crucial phase.
Also Read:&nbsp;<a href="https://www.benzinga.com/24/08/40429823/anthony-scaramucci-says-donald-trumps-divisive-tactics-will-lead-to-the-first-african-american-woman" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Donald Trump's Divisive Tactics Will Lead To ‘The First African-American Woman President'</a>
Harris&#8217;s lead in Pennsylvania is especially noteworthy due to the state&#8217;s crucial role in the Electoral College. 
<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">New Bloomberg/Morning Consult polls, via <a href="https://twitter.com/playbookdc?ref_src=twsrc%5Etfw">@playbookdc</a>: Wisconsin Harris 52 Trump 44 Pennsylvania Harris 51 Trump 47 Nevada Harris 49 Trump 45 Michigan Harris 49 Trump 46 NC/Georgia Harris 49 Trump 47 Arizona Harris 48 Trump 48 Averages not as good. PA lead worth watching. <a href="https://t.co/1iaRkliFZg">pic.twitter.com/1iaRkliFZg</a>
&mdash; Greg Sargent (@GregTSargent) <a href="https://twitter.com/GregTSargent/status/1829488849556537356?ref_src=twsrc%5Etfw">August 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Elections analyst Nate Silver&#8217;s electoral forecast model had recently shifted in favor of Trump, attributing the shift to Pennsylvania. However, the latest polls showing Harris leading in the state could indicate a potential change in the race dynamics.
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Why It Matters: The shift in poll results comes at a critical time in the election cycle. Harris&#8217;s lead in key swing states could potentially impact the overall outcome of the election. 
The change in Pennsylvania&#8217;s electoral forecast is particularly significant, as the state plays a pivotal role in the Electoral College. 
The recent poll results may indicate a shift in voter sentiment, potentially altering the course of the election.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Trump Vs Harris: New Polls Reveal This Candidate Is Outperforming In Swing States

Esther Crawford became an internet sensation when a photo of her sleeping in Twitter's office went viral during the chaotic days after Elon Musk took over the company in 2022. The image symbolized the intense work culture that Musk imposed, where employees were expected to work around the clock. But while the photo made Crawford look like the poster child for Musk's "hardcore" work ethic, the reality was much more complicated.
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Crawford, who was a director at Twitter, publicly embraced the long hours and grueling demands, even joking about her photo on social media. Nevertheless, behind the scenes, she was honestly and seriously worried about the toll this work culture was taking on her team.
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According to a story adapted from &#8220;Character Limit: How Elon Musk Destroyed Twitter,&#8221; a new book about Musk's takeover, Crawford privately told Musk that she didn't want her team pushed to the point of collapse. "I don't want to push the team to die over this," she reportedly said.
Musk's response? He allegedly laughed and said, "Well, push them to just before they die."
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For anyone familiar with how Musk runs things, his response is surprising yet typical. Since he took over Twitter, he&#8217;s shown that he <a href="https://www.benzinga.com/news/23/09/34355088/heres-how-twitters-fearful-staff-handled-elon-musks-overwhelming-demands">expects employees to go all out</a>, even if it means sacrificing their personal lives. Workers were pushed to commit to a very intense work environment, with some even sleeping in the office and attending late-night meetings to hit tight deadlines.
&#8220;Twitter often felt like a place that kept squandering its own potential,&#8221; <a href="https://www.benzinga.com/news/23/07/33411964/from-all-nighters-to-lay-offs-ex-twitter-pm-reveals-wild-ride-with-elon-musk">Crawford said in a 2023 post</a>. She was &#8220;cautiously optimistic&#8221; and shared that although she didn't know much about Musk, she saw him as the guy who built incredible and enduring companies like Tesla and SpaceX and thought that perhaps his private ownership could shake things up and breathe new life into the company.
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Recently, though, <a href="https://www.benzinga.com/news/24/08/40540569/elon-musks-x-staff-have-to-justify-why-they-deserve-stock-grants-with-1-page-summary-of-their-contri">Musk increased the pressure on X employees</a> by making them justify their contributions to the company to get their stock options, according to The Verge. Now, employees have to write a one-page summary of their work to qualify for stock grants, which has only added to the already tense atmosphere at the company.
While Crawford&#8217;s viral photo painted a picture of someone who was fully on board with Musk's vision, the reality was that she was concerned about the well-being of her team. Despite her dedication, <a href="https://www.benzinga.com/news/23/02/31063213/from-the-floor-to-the-door-elon-musk-reportedly-fires-twitters-sleeping-bag-lady-in-another-round-of">she was eventually laid off</a> in early 2023, along with many others who had remained loyal during Musk's tumultuous takeover.
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Startups

She Went Viral For Sleeping In Twitter's Office But Told Elon Musk 'I Don't Want To Push The Team To Die' — His Answer? Shocking But Expected

Mary Trump, the niece of Donald Trump, has made a public statement to <a href="https://www.benzinga.com/news/24/08/40429962/mary-trump-donalds-narcissistic-injury-is-so-great-that-he-has-essentially-stopped-campaigning">her uncle through a unique medium</a>.
What Happened: In a post on X, Mary Trump has released a video montage that she refers to as a &#8220;letter&#8221; to her uncle. The video post, dubbed &#8220;DNC Epilogue,&#8221; features snippets from the Democratic National Convention (DNC) and includes Mary Trump&#8217;s endorsement of Kamala Harris for president.
She also dismisses the idea of Donald Trump returning to the White House as &#8220;delusional.&#8221;
Mary Trump, a vocal critic of her uncle and author of a book about him and their family, has described him as &#8220;utterly incapable of leading this country.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just dropped a DNC epilogue video with some Breakfast Club vibes. It's a letter to Donald—spoiler: he&#39;s not the hero here. If you&#39;re done with his nonsense, give it a watch. Let's keep exposing his lies. <a href="https://twitter.com/hashtag/DNC?src=hash&amp;ref_src=twsrc%5Etfw">#DNC</a> <a href="https://twitter.com/hashtag/TruthMatters?src=hash&amp;ref_src=twsrc%5Etfw">#TruthMatters</a> <a href="https://twitter.com/hashtag/BreakfastClubStyle?src=hash&amp;ref_src=twsrc%5Etfw">#BreakfastClubStyle</a> <a href="https://t.co/xuveDQEj9w">pic.twitter.com/xuveDQEj9w</a>
&mdash; Mary L Trump (@MaryLTrump) <a href="https://twitter.com/MaryLTrump/status/1829161806935536082?ref_src=twsrc%5Etfw">August 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Her video montage also carries a message from her media team to her uncle, expressing their dedication to getting Harris elected and ensuring that Donald Trump never holds power again.
Also Read: <a href="https://www.benzinga.com/news/24/08/40541951/mary-trump-offers-debate-strategy-for-kamala-harris-let-people-see-what-a-petty-small-insecure-weak">Mary Trump Offers Debate Strategy For Kamala Harris: Let People &#8216;See What A Petty, Small, Insecure, Weak Man Donald Trump Really Is&#8217;</a>
In response to the video, Steven Cheung, Trump&#8217;s campaign communications director, suggested that Mary Trump should seek help for &#8220;Trump Derangement Syndrome.&#8221;
Meanwhile, Mary Trump&#8217;s new book, Who Could Ever Love You: A Family Memoir, has delved into her personal struggle with despair and her subsequent journey to ketamine therapy, a journey she attributes to the chaotic political career of her uncle.
In the book Mary Trump shares her experiences as a Trump family member, including her uncles and aunts&#8217; efforts to disinherit her and the family&#8217;s legal disputes.
She also sheds light on her role as a source for New York Times reporters who unveiled the Trump family&#8217;s tax affairs in 2018.
Mary Trump&#8217;s struggle with her family&#8217;s legacy led her to seek intensive trauma treatment and eventually to ketamine therapy. Despite the obstacles, she expresses a desire to live and continue contributing to the national discourse about her notorious uncle.
"I'm here because five years ago, I lost control of my life," Mary Trump writes in her memoir, describing ketamine treatment undertaken in . "I'm here because the world has fallen away and I don't know how to find my way back. "I'm here because&nbsp;Donald Trump&nbsp;is my uncle."
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Mary Trump&#8217;s first book, Too Much and Never Enough: How My Family Created the World's Most Dangerous Man, released in 2020, was a bestseller.
Why It Matters: Mary Trump&#8217;s video montage is a bold move, further escalating her public criticism of her uncle. Her endorsement of Kamala Harris and dismissal of Donald Trump&#8217;s potential return to power are clear indications of her political stance. The video also underscores her commitment to prevent Donald Trump from regaining power, a sentiment echoed by her media team.
Steven Cheung&#8217;s response to the video suggests that the Trump campaign is not taking Mary Trump&#8217;s criticisms lightly. The use of the term &#8220;Trump Derangement Syndrome&#8221; indicates a dismissive attitude towards her views, further fueling the public discourse around the Trump family dynamics.
As the political landscape continues to evolve, Mary Trump&#8217;s outspoken stance against her uncle is likely to remain a significant point of discussion.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mary Trump Shares Video 'Letter' To Uncle Donald Trump, Also Says He Pushed Her To Ketamine Therapy In New Book

In just two years, Story Protocol&#8217;s startup has skyrocketed to a valuation of $2.25 billion by tackling a timely issue: protecting creators&#8217; rights in the age of artificial intelligence (AI). The company recently raised $80 million in a funding round led by venture capital giant <a href="https://www.benzinga.com/topic/a16z">Andreessen Horowitz (a16z crypto)</a>.
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AI systems, which need large amounts of data to function, increasingly pull content from the internet – often without the creators' permission. Story Protocol, developed by Palo Alto-based PIP Labs, uses blockchain technology to allow creators to establish ownership of their work, set rules for how it can be used, and ensure they get paid when their content is utilized.
&#8220;We are building the programmable intellectual property layer for the age of generative AI,&#8221; SY Lee, co-founder and CEO of PIP Labs, told Bloomberg. &#8220;Every single IP is a massive asset class. It can be your voice, characters, music pieces, anything that's a creative output.&#8221;
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Seung Yoon Lee, a South Korean entrepreneur, started his journey in his early 20s when he cofounded Radish Fiction, a mobile fiction app, in 2016. Now in his early 30s, Lee is already a well-known figure in the startup world. Despite still being considered young in Korea&#8217;s culture, he&#8217;s made a huge impact by growing the value of Story Protocol to an impressive $2.25 billion in just a few years.
The funding round, which also included investments from Polychain Capital, Stability AI&#8217;s Scott Trowbridge, and digital art collector Cozomo de' Medici, brings PIP Labs' total to $140 million. The company plans to use the funds to support developers and creators and further research into <a href="https://www.benzinga.com/tech/24/07/39825080/patent-law-cant-keep-up-with-ais-pace-of-change-creating-massive-risk-and-massive-opportunity">IP protection</a>.
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We can already see practical applications of Story Protocol's tech in its partnership with Magma. Fans can create scenes from their favorite video games on this art platform without worrying about copyright infringements.&nbsp;
Once artists register their artwork with Story Protocol, they can monitor and manage how it&#8217;s used across different platforms, including social media and websites. This ensures they get paid for their work and that any changes or new versions of their art follow the rules they've set.
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&#8220;Without great original IP, the AI models don't develop,&#8221; Lee explained, emphasizing the importance of protecting creators' work. &#8220;<a href="https://www.benzinga.com/news/24/01/36661108/salesforce-ceo-marc-benioff-highlights-ai-companies-using-media-content-without-permission">AI is taking</a>, <a href="https://www.benzinga.com/news/24/03/37723844/they-stole-everything-elon-musks-war-with-openai-heats-up-after-soras-data-sourcing-doubts-emerge-in">stealing data without consent</a>, and benefiting from it without sharing the rewards with the original creators. It&#8217;s inadvertently suicide (for creative content) in the long run.&#8221;
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Two-Year-Old Startup Uses Blockchain To Battle AI Copyright Theft And Surpasses $2B In Valuation

By <a href="https://www.benzinga.com/author/todd-harrison" target="_blank" rel="noreferrer noopener">Todd Harrison</a> via <a href="https://substack.com/@toddharrison" target="_blank" rel="noreferrer noopener">Cannabis Confidential</a> (August 31)
Former President Donald Trump said on Saturday that he believes voters in his home state of Florida will approve a marijuana legalization initiative on the November ballot, arguing that "someone should not be a criminal in Florida when it&#8217;s legal in so many other States." <a href="https://www.marijuanamoment.net/trump-supports-florida-marijuana-legalization-ballot-measure-but-wants-lawmakers-to-ban-public-smoking/">Read More</a> (and see below)
<a href="https://toddharrison.substack.com/p/make-america-green-again">Make America Green Again</a> (May 22, 2024)
<a href="https://toddharrison.substack.com/p/the-trump-card?utm_source=publication-search">The Trump Card</a> (July 16, 2024)
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">"In Florida, like so many other States that have already given their approval, personal amounts of marijuana will be legalized for adults with Amendment 3… at the same time, someone should not be a criminal in Florida, when this is legal in so many other states. We do not need to ruin lives &amp; waste Taxpayer Dollars arresting adults with personal amounts of it on them, and no one should grieve a loved one because they died from fentanyl laced marijuana." Former President Donald Trump 8/31/24
</blockquote>
Full Statement
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d4dcd79-90d0-40e4-860b-8d9e5deb78e2_680x341.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d4dcd79-90d0-40e4-860b-8d9e5deb78e2_680x341.jpeg" alt="Image" title="Image" /></a></figure>
Former Chairman of the Florida Republican Party <a href="https://x.com/JoeGruters">Joe Gruters</a>:
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fba751ab1-1833-4dc6-a94f-06b84e421ed0_1179x1853.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fba751ab1-1833-4dc6-a94f-06b84e421ed0_1179x1853.jpeg" alt="Screenshot 2024-08-31 at 1.48.08 PM.jpeg" title="Screenshot 2024-08-31 at 1.48.08 PM.jpeg" /></a></figure>
Other headlines and notable reactions &#x1f447;
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1e199d2-cbbc-4636-9813-f85b993d1bdf_1179x1507.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1e199d2-cbbc-4636-9813-f85b993d1bdf_1179x1507.jpeg" alt="Screenshot 2024-08-31 at 1.45.22 PM.jpeg" title="Screenshot 2024-08-31 at 1.45.22 PM.jpeg" /></a></figure>
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a06df84-9deb-4e4e-b235-e076ebf60b3d_1179x1210.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a06df84-9deb-4e4e-b235-e076ebf60b3d_1179x1210.jpeg" alt="Screenshot 2024-08-31 at 1.45.44 PM.jpeg" title="Screenshot 2024-08-31 at 1.45.44 PM.jpeg" /></a></figure>
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8cf630c9-d86a-4455-87ce-d2a53bf95538_1179x1763.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8cf630c9-d86a-4455-87ce-d2a53bf95538_1179x1763.jpeg" alt="Screenshot 2024-08-31 at 1.45.01 PM.jpeg" title="Screenshot 2024-08-31 at 1.45.01 PM.jpeg" /></a></figure>
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5d7b4aa3-4448-40fe-b957-7b56f198c465_1179x999.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5d7b4aa3-4448-40fe-b957-7b56f198c465_1179x999.jpeg" alt="Screenshot 2024-08-31 at 1.47.50 PM.jpeg" title="Screenshot 2024-08-31 at 1.47.50 PM.jpeg" /></a></figure>
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdffbc403-437d-4a39-ac36-154159e6bf5c_1179x1428.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdffbc403-437d-4a39-ac36-154159e6bf5c_1179x1428.jpeg" alt="Screenshot 2024-08-31 at 2.13.50 PM.jpeg" title="Screenshot 2024-08-31 at 2.13.50 PM.jpeg" /></a></figure>
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d2add47-16d4-43b1-9b64-1c2474cd1735_1179x737.jpeg" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d2add47-16d4-43b1-9b64-1c2474cd1735_1179x737.jpeg" alt="Screenshot 2024-08-31 at 1.46.03 PM.jpeg" title="Screenshot 2024-08-31 at 1.46.03 PM.jpeg" /></a></figure>
<a href="https://toddharrison.substack.com/p/fast-and-furious?utm_source=publication-search">Project Right Now</a>
Lest this note finds its way to the screens of either political campaign, we'll share the logic and reasoning on why U.S. cannabis must wiggle away from the War on Drugs:
Popularity: An overwhelming majority of American adults (78%) support the legalization of cannabis, recognizing its economic, medical, and social benefits, and 91% of the U.S. population supports legalizing cannabis in some form (Pew).
Economic: U.S. cannabis employs 500K Americans in state-legal jobs (Vangst) who sold $29B worth of product last year, which is estimated to grow to $37B by 2027 (Cowen).
Health Benefits: Legal canna provides patients with access to medical cannabis that helps manage conditions such as chronic pain, epilepsy, and anxiety, and thereby "improving quality of life." (Harvard). (<a href="https://www.cb1cap.com/researchailment">broader list of indications here</a>)
The U.S. Dept of Health and Human Services has already <a href="https://toddharrison.substack.com/p/breaking-news-hhs-calls-to-move-cannabis?utm_source=publication-search">recommended</a> changing the legal status of cannabis-based on overwhelming support for medical benefits.
Wellness: Opioid Use/Overdose: States with legal cannabis saw reductions in opioid prescriptions, use and overdose deaths, suggesting that it's a safer alternative for pain management (AMA).
Teens/Underage Use: Legalization doesn&#8217;t lead to increased cannabis use among teens as regulated markets ensure better control over sales and reduce access for minors (NIDA).
Criminal Justice: We can't replace the lost time for those who have been or remain locked up for non-violent cannabis offenses, but we can get the country back on the right side of history.
Over 40,000 people are currently incarcerated for non-violent cannabis offenses in the U.S., with racial disparities disproportionately affecting people of color (LPP).
Citizen Safety: As the federal government continues to impose onerous and arguably illegal taxes on state-legal operators, the illicit market has proliferated, supporting violent, organized <a href="https://www.propublica.org/article/chinese-organized-crime-us-marijuana-market">Chinese crime rings</a>.
Have a safe journey and please <a href="https://joelpollack.com/">enjoy responsibly</a>.
If you'd like to help Mission [Green] change federal cannabis policies, please <a href="https://www.projectmissiongreen.org/donate">click here.</a>
CB1 has positions in / advises some of the companies mentioned and nothing contained herein should be considered advice.
This article is from an external unpaid contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.
Photo: Gage Skidmore from Peoria, AZ, United States of America, <a href="https://creativecommons.org/licenses/by-sa/2.0">CC BY-SA 2.0</a>, via Wikimedia Commons, edited by El Planteo.

Trump Goes To Bat For U.S. Cannabis: Criminalization 'Ruins Lives, Wastes Taxpayer Dollars'

August saw the <a href="https://www.benzinga.com/news/earnings/24/08/40648231/wall-street-poised-for-strong-start-as-inflation-data-looms-strategist-says-brace-for-volatile-fall">equity market make good the losses</a> it experienced post its mid-July peak, with earnings and benign data helping the fightback. With August in the rearview mirror, here&#8217;s a look at the leaders and laggards among the S&amp;P 500 Index, a broader gauge of market performance.
3-Part Trend: The month&#8217;s trading could be characterized as a tale of three trends. Stocks extended the weakness into August, with the S&amp;P 500 bottoming on Aug. 5, coinciding with the collapse of the global equity markets. The unwinding of the yen carry trades due to the yen&#8217;s strength perked up risk aversion, sending Japanese stocks into a tailspin, and the reverberations became evident elsewhere.
The S&amp;P 500 Index fell 4.3% intraday on Aug. 5, which happened to be a Monday. The collapse was promptly dubbed Black Monday 2.0 to differentiate it from the Black Monday crash of Oct. 1987. The CBOE Volatility Index, commonly called VIX, more than doubled to 65.73 intraday before pulling back. 
On a positive note, the S&amp;P 500 closed off the lows of the day and was down a more modest 3% by the close.
The market saw a steady recovery from the low through Aug. 22, thanks to a slew of catalysts that reinforced expectations that the Federal Open Market Committee would begin cutting rates at its September meeting.
The strong and rapid recovery pushed traders on the defensive, and the market has been moving sideways since then. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="819" height="630" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/31133559/image-325.png" alt="" class="wp-image-524474" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/31133559/image-325.png 819w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/31133559/image-325-300x231.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/31133559/image-325-768x591.png 768w" sizes="(max-width: 819px) 100vw, 819px" /></figure>
Source: Yahoo Finance
For August, the S&amp;P 500 Index gained 2.28%, ending the month at 5,648.40, off its record closing high of 5,667.20 hit on July 16.
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The Leaders: None of the Magnificent seven stocks, which have been spearheading the broader market uptrend since the start of the 2023, made it to the list of the top 10 gainers. The list featured two cybersecurity companies, namely CrowdStrike Holdings, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Fortinet, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>). CrowdStrike was rebounding from its global-outage-induced slump seen since July 19. 
Fortinet was helped by a strong post-earnings rally.
Two household and personal care products companies also made the cut, while a management change did the truck for coffee chain Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>).
The top 10 gainers for the month are:
<ul>
<li>Packaged food company Kellanova&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) (+38.62%) (upside primarily due to the rumors of a buyout by privately-held Mars and the subsequent confirmation of the deal)</li>
<li>Fortinet (+32.17%)</li>
<li>Starbucks (+26.52%)</li>
<li>Axon Enterprise, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) (+21.65%); Much of the gains stemmed from a post-earnings bump seen on Aug.7)</li>
<li>Clorox Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) (+21.02%)</li>
<li>CrowdStrike (+19.54%)</li>
<li>Kenvue Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) (+19.88%)</li>
<li>Best Buy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) (+16.04%)</li>
<li>Arch Capital Group Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NYSE">ACGL</a>) (+18.07%)</li>
<li>Progressive Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) (+17.78%)</li>
</ul>
The Laggards: Artificial intelligence server manufacturer Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), which had a dream run after its inclusion in the S&amp;P 500 Index, plummeted following a short report and the delay flagged by the company in filing its 10-K report. Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), which is fraught with fundamental risk, was also one of the worst performers for the month.
A few retailers ended up in the list of the top 10 S&amp;P 500 decliners for August.
The top 10 losers for the month are:
<ul>
<li>Super Micro (-37.62%)</li>
<li>Moderna, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) (-35.08%)</li>
<li>Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) (-31.08%)</li>
<li>Intel (-27.86%)</li>
<li>Walgreens Boots Alliance, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) (-20.19%)</li>
<li>Dollar Tree, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) (-19.02%)</li>
<li>Charles River Laboratories International, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) (-18.99%)</li>
<li>Airbnb, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) (-15.94)</li>
<li>Bath &amp; Body Works, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) (-15.80%)</li>
<li>Etsy, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) (-15.43%)</li>
</ul>
Earnings reactions triggered the weakness seen in some of these stocks, including Intel, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40139012/moderna-stock-trading-lower-on-dismal-guidance-analysts-cuts-price-targets-noting-c">Moderna, which reduced its full-year forecast.</a>
With the Fed all but decided on a September rate cut, some of these beaten-down stocks, especially those in the retail space, could stage a turnaround. 
The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $563.68, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
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Magnificent 7 Miss Out, 2 Cybersecurity Stocks Stand Firm, Retailers Lag In Volatile August: Here Are The Top S&P 500 Gainers And Losers

Insiders at Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) owned social media platform Truth Social have started <a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy">offloading their shares</a>.
Meanwhile, Donald Trump is still waiting for his opportunity to cash in on his stake in the social media company.
What Happened: Executives at Truth Social have initiated the sale of their shares. The social media platform began trading on NASDAQ following its merger with Digital World Acquisition Corp. in late March. Despite an initial valuation of over $3.8 billion and a share price of $57.99, the company&#8217;s stock has since taken a nosedive to $19.60.
Trump currently owns more than 114 million shares&nbsp;in Trump Media, a stake valued at about $2.5 billion. The company trading under the ticker DJT, is unable to liquidate his shares until Sept. 25 due to a lock-up period rule, as per SEC filings. 
As <a href="https://fortune.com/2024/08/30/trump-truth-social-stock-insider-sales/">per</a> a report by Fortune, other insiders, including Trump Media&#8217;s CFO Phillip Juhan and CEO Devin Nunes, have already begun selling their shares.
Also Read: <a href="https://www.benzinga.com/news/24/08/40544031/donald-trump-says-fox-news-called-him-for-dnc-interview-brands-himself-ratings-machine">Donald Trump Says Fox News Called Him For DNC Interview, Brands Himself &#8216;Ratings Machine&#8217;</a>
Robert R. Johnson, a finance professor at Creighton University, told Fortune that the stock price of Truth Social is largely disconnected from the company&#8217;s financial reality.
In Q1 2024, the company reported a staggering loss of $327 million on revenues of a mere $770,500.
While Trump could potentially sell his shares by Sept. 20 if the share price remains steady, it&#8217;s unlikely he would sell his entire stake considering the potential impact on the stock&#8217;s value and his political supporters who are also shareholders.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref" target="_blank" rel="noreferrer noopener">Trump Vs Harris: Kamala Harris Takes 8-Point Lead In New Poll, With Race And Gender Shaping Voter Preferences</a>
Why It Matters: The selling of shares by Truth Social executives raises questions about the company&#8217;s future. The stock&#8217;s drastic decline and the company&#8217;s significant Q1 loss indicate a disconnect between the company&#8217;s financial reality and its stock price. 
This discrepancy, along with the impending end of Trump&#8217;s lock-up period, could potentially lead to further instability in the company&#8217;s stock price. 
The situation is further complicated by the fact that many of Trump&#8217;s political supporters are also shareholders, adding a layer of political implications to any potential sell-off.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Donald Trump's Billions On Hold As Insiders Sell Off Truth Social Shares

Researchers are now suggesting that a drug for Type 2 diabetes and obesity <a href="https://www.benzinga.com/markets/equities/24/07/39745003/novo-nordisks-miracle-weight-loss-drug-ozempic-linked-to-48-lower-risk-of-dementia-study-finds" target="_blank" rel="noreferrer noopener">might actually have anti-aging powers</a>.
Harlan Krumholz of the Yale School of Medicine declared that semaglutide, marketed as Ozempic, could be a game-changer with benefits far beyond our wildest dreams after several groundbreaking studies revealed its unexpected potential, <a href="https://www.bbc.com/news/articles/ce81j919gdjo" target="_blank" rel="noreferrer noopener">reported</a> BBC.
Researchers have discovered that the drug might tackle a broad spectrum of ailments, including heart failure, arthritis, Alzheimer&#8217;s and even cancer.
&#8220;It wouldn&#8217;t surprise me that improving people&#8217;s health this way actually slows down the ageing process,&#8221; Krumholz remarked at the European Society of Cardiology Conference 2024 on Friday, where the groundbreaking studies were unveiled.
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The new data has been published in several medical journals, including the Journal of the American College of Cardiology (JACC), which is edited by Krumholz.
&#8220;These groundbreaking medications are poised to revolutionise cardiovascular care and could dramatically enhance cardiovascular health,&#8221; he said.
The studies, part of the Select trial, monitored over 17,600 people aged 45 and older who received either 2.4 mg of semaglutide or a placebo for over three years.
All participants were obese or overweight with cardiovascular disease but did not have diabetes. Researchers discovered that those taking the drug had a lower overall mortality rate, including deaths from cardiovascular issues and Covid-19, BBC noted.
People using the weight-loss drug were equally susceptible to contracting Covid but had a lower mortality rate from it — 2.6% of those on semaglutide died compared to 3.1% on the placebo.
While women saw a reduction in major adverse cardiovascular events, the drug consistently lowered the risk of cardiovascular issues for both sexes. It also alleviated heart failure symptoms and reduced inflammation in the body, regardless of weight loss.
The medication, available on prescription from the NHS, is known under the brand names Wegovy for obesity and Ozempic for diabetes.
It&#8217;s administered via injection and mimics the hormone GLP-1 to help users feel fuller and curb their appetite. Experts caution that it&#8217;s not a miracle solution or a substitute for healthy eating and exercise, and should be used under medical supervision.
Potential side effects include nausea, stomach upset, bloating, and gas, BBC added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Health Care

Ozempic: Unexpected Anti-Aging Miracle Drug? Researchers Reveal Surprising Potential

Donald Trump has claimed that during his presidency, he wanted to appoint his daughter Ivanka <a href="https://www.benzinga.com/real-estate/24/08/40341328/ivana-trumps-former-nyc-townhome-slashed-to-19-5-million-after-two-years-on-the-market" target="_blank" rel="noreferrer noopener">as the U.S. ambassador to the UN</a>. However, <a href="https://www.theguardian.com/us-news/article/2024/aug/31/donald-trump-at-moms-for-liberty-says-ivanka-hired-millions-of-people" target="_blank" rel="noreferrer noopener">according</a> to The Guardian, the former president said that Ivanka chose to focus on job creation instead, hiring &#8220;millions of people.&#8221;
Trump made these comments during a &#8220;fireside chat&#8221; at the annual Moms for Liberty gathering in Washington on Friday night. The nonprofit, which campaigns to remove mentions of LGBTQ identity and structural racism from school curricula, hosted the event.
Trump stated, &#8220;I said, you would be a great ambassador to the United Nations, United Nations secretary – there&#8217;d be nobody to compete with her. She may be my daughter but nobody could have competed with her, with her rat-rat-rat you know she&#8217;s got,&#8221; the report added.
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&#8220;She said, &#8216;Daddy, I don&#8217;t want to do that, I just want to help people get jobs.&#8217; She would go around – not a glamorous job – but would go around to see Wal-Mart, to see Exxon, to see all these big companies to hire people and she had hired, like, millions of people during the course of her stay,&#8221; Trump added.
In his lengthy remarks, Trump veered between topics such as his parents&#8217; marriage, Scotland, his reality TV show &#8220;The Apprentice,&#8221; and Elon Musk (&#8220;a super genius guy&#8221;). He also reflected on his debates with Hillary Clinton and Joe Biden and discussed his upcoming contest with Kamala Harris, whom he labeled as a &#8220;Marxist&#8221; and a &#8220;defective person,&#8221; The Guardian reported.
At one point, Trump reminisced about Ivanka&#8217;s career, stating that although she was making substantial money from her fashion brand, she chose to leave it behind to support him politically.
He suggested that she sacrificed her lucrative and glamorous career to engage in the less glamorous but crucial work of job creation.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Trump Claims Ivanka Rejected UN Ambassador Role, Instead Hired 'Millions Of People'

<a href="https://www.benzinga.com/personal-finance/24/07/39600675/bill-gates-was-the-worlds-richest-man-for-a-record-18-years-his-secret-to-success-saving-like-a-">Bill Gates</a>, known for co-founding Microsoft, also has a philanthropic side. According to Fortune, he is one of only five billionaires who has given away more than 20% of his wealth to charity.&nbsp; A big part of his charitable efforts is dedicated to public health, particularly as an advocate for <a href="https://www.benzinga.com/general/biotech/24/04/38043559/igc-pharma-releases-positive-interim-analysis-of-its-ongoing-phase-2-trial-in-alzheimers-research">Alzheimer's research</a>. Gates' own father battled Alzheimer's, and since that diagnosis, Gates has been a huge proponent of Alzheimer's research and education.&nbsp;
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Recently, Gates visited the Indiana University (IU) School of Medicine, a leading institution in Alzheimer's research, to witness firsthand the groundbreaking work it is doing to combat this disease. During his visit, Gates donned a lab coat and protective gloves as he toured IU's state-of-the-art labs and engaged with researchers for a more hands-on experience in the fight against Alzheimer's. 
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IU President Pamela Whitten welcomed Gates to the campus. She said, "A deeply collaborative environment is at the heart of our research enterprise at IU, and this approach has helped to ensure that our team of scientists is working together to answer the most difficult questions about Alzheimer's. We were proud to give a visionary like Bill Gates a firsthand look at that work."
<a href="https://www.benzinga.com/news/24/08/40304161/bill-gates-and-warren-buffett-have-been-friends-for-decades-but-rising-tensions-now-threaten-their-p">Gates's philanthropic efforts</a> in Alzheimer's research have been significant. He donated $100 million to initiatives dedicated to understanding and curing the disease. Having seen his father struggle with Alzheimer's and understanding the emotional toll it takes on the individual and family, his personal connection has fueled his support. 
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One of the most crucial <a href="https://www.benzinga.com/general/24/04/38203452/bill-gates-spent-100-million-on-alzheimers-research-after-his-dads-diagnosis-this-is-what-he-says-is">pieces of advice Gates offers</a>, based on the latest research, is the importance of sleep in preventing Alzheimer's. "One of the strongest things to emerge in that area is the importance of good sleep," Gates has stated. &#8220;To maintain brain health, getting good sleep even back to your teen years is super important.&#8221;
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According to the National Institutes of Health (NIH), there is some correlation between poor sleep patterns and a greater risk of dementia later in life. A study they conducted found that people in their 50s and 60s getting six hours of sleep or less were at greater risk of developing dementia later. Those getting poorer sleep were 30% more likely to be diagnosed with dementia than those getting at least 7 hours of sleep a night.&nbsp;
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While Gates' $100 million investment is a substantial contribution to the fight against Alzheimer's, he knows that research is not enough by itself. He encourages prevention through lifestyle changes, like getting better sleep, to help combat the disease.&nbsp;

Personal Finance

Bill Gates' $100M Alzheimer's Research Support — His Visit To IU School Of Medicine And How He Recommends Preventing Alzheimer's

A Singaporean man has been sentenced to nearly four years behind bars after attempting to frame his estranged wife by planting cannabis in her car, knowing she could get the death penalty.
Tan Xianglong, 37, hid what he thought was over half a kilo of marijuana in the back seat of his wife's vehicle, thinking that amount would be sufficient to trigger Singapore's death penalty for drug trafficking.
Singapore, by the way, has some of the strictest drug laws in the world and carries out the death penalty by hanging. The latest, which took place in April 2023, was the 11th person in two years <a href="https://www.benzinga.com/markets/cannabis/23/04/31957742/billionaire-branson-criticizes-singapores-decision-to-execute-man-over-kilogram-of-pot-this-week">to be hanged</a> for allegedly smuggling two pounds of cannabis into the country.
<h3 class="wp-block-heading">Ripped Off In A Telegram Chat</h3>
However, in this case, less than half of the substance that Tan planted in his wife's car turned out to be actual cannabis; the rest was filler material, <a href="https://e.vnexpress.net/news/news/crime/singaporean-jailed-for-planting-death-penalty-weed-in-wife-s-car-4787949.html">reported</a> VNExpress.
Tan admitted he bought the weed from a <a href="https://www.benzinga.com/topic/telegram">Telegram</a> chat group whose founder <a href="https://www.benzinga.com/topic/pavel-durov">Pavel Durov</a> was recently released on $5.6 million bail from French custody where he <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40558693/telegram-ceo-pavel-durov-faces-12-serious-charges-french-prosecutor-reveals" target="_blank" rel="noreferrer noopener">could face up to 12 serious charges</a>, including drug offenses.
Read Also:  <a href="https://www.benzinga.com/markets/cannabis/22/08/28385074/the-possibly-best-and-worst-countries-to-get-caught-with-pot" target="_blank" rel="noreferrer noopener">The (Possibly) Best and Worst Countries To Get Caught With Pot</a>
<h3 class="wp-block-heading">The Pot Plot Unravels</h3>
Tan had apparently failed to consider that his wife's car was equipped with a camera system that sent her a phone notification alerting her to a &#8220;parking impact.&#8221; This prompted the woman to review live footage, which showed Tan lingering around the car. She quickly notified the police, accusing him of harassment. During the investigation, however, the cops discovered the weed and arrested her. When no evidence was found against her, the focus shifted to Tan, leading to his arrest.
Tan's defense attorney argued that he was suffering from depression at the time he plotted to send this wife to the gallows.
Court documents revealed that Tan&#8217;s intention was to frighten his wife and entangle her in legal trouble. His plan hinged on getting her arrested and charged with a severe crime, potentially making it easier for him to get a divorce. Under Singaporean law, couples need to be married for at least three years before filing for divorce. Tan and his wife had been separated for less than two years.
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Photo by CEphoto, Uwe Aranas via <a href="https://creativecommons.org/licenses/by-sa/4.0/deed.en" target="_blank" rel="noreferrer noopener">Wikimedia Commons</a>

Death Penalty Scheme Gone Wrong: Husband's Plot To Frame Wife With Cannabis Fails

The era of interest rates at two-decade highs may be drawing to a close, with Federal Reserve Chair Jerome Powell hinting at possible cuts as early as September. But for hopeful homebuyers eyeing cheaper mortgages, <a href="https://www.benzinga.com/markets/equities/24/08/40541926/fed-rate-cuts-coming-what-you-need-to-know-about-mortgages-borrowing-and-saving">the path forward is still unclear</a>.
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Last week, at the central bank&#8217;s annual gathering in Jackson Hole, Wyoming, Powell struck a cautiously optimistic tone. &#8220;The time has come for policy to adjust,&#8221; he said, <a href="https://www.benzinga.com/markets/equities/24/08/40535770/feds-powell-hints-at-policy-shifts-dollar-plunges-gold-rallies-as-investors-flock-to-rate-cut-wi">confirming the Fed&#8217;s intention to begin easing its monetary stance</a>.
The shift departs from the aggressive rate-hiking campaign of the past two years, designed to tame runaway inflation. Now, with price increases cooling, the Fed faces the challenge of supporting economic growth without reigniting inflationary pressures.
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While Powell&#8217;s remarks clearly signaled that rate cuts are on the horizon, the timing and pace remain uncertain. &#8220;The direction of travel is clear,&#8221; he said, &#8220;but the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.&#8221;
The key variable in this is the labor market.
The Sept. 6 jobs report looms large on the Fed&#8217;s radar. A softer-than-expected report could push the central bank toward a more aggressive 50-basis point cut at its Sept. 18 meeting. A resilient job market, however, might prompt a more measured approach.
That uncertainty has left financial markets in a state of cautious optimism. Futures markets are currently split, with a two-thirds probability of a standard 25-basis point cut in September and a one-third chance of a bolder 50-basis point reduction.
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For potential homebuyers, that translates into a waiting game. While mortgage rates edged down in response to Powell&#8217;s remarks, steeper drops may not materialize immediately.
&#8220;Additional weak labor market data leading to a series of larger than 25 bps cuts will mean that mortgage rates will fall through the end of the year,&#8221; noted Chen Zhao, economics team lead at Redfin. &#8220;But a stable, or even falling, unemployment rate will allow the Fed to cut 25 bps at a time and may lead to mortgage rates ticking up a bit from today&#8217;s lows through the end of the year.&#8221;
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The Fed&#8217;s evolving stance reflects a growing confidence in its battle against inflation. Powell acknowledged that inflation, measured by the Fed&#8217;s preferred gauge, <a href="https://www.benzinga.com/top-stories/24/07/39987142/feds-favorite-inflation-gauge-keeps-falling-but-fed-wants-durable-downward-trend-economist-says#:~:text=The%20PCE%2C%20the%20Fed's%20favored,an%20expected%20decline%20to%202.5%25.">has fallen to 2.5%</a>.
&#8220;My confidence has grown that inflation is on a sustainable path back to 2%,&#8221; he said during his speech, hinting at the possibility of achieving the much sought-after "soft landing." The Fed chair also said policymakers had miscalculated the inflationary threat when it emerged in 2020. &#8220;The good ship Transitory was a crowded one,&#8221; he said, referring to the widespread initial belief that price pressures would be short-lived.
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As the Fed navigates the next phase, the housing market grapples with affordability challenges, even as the prospect of lower rates offers some hope.
For now, investors will turn to the upcoming jobs report.&nbsp;

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'The Time Has Come to Adjust' — Cheaper Mortgage Rates Could Be Just Weeks Away, But It All Hinges On This Data

In the wake of the arrest of Telegram founder Pavel Durov in France, Elon Musk is contemplating limiting his international travel. 
What Happened: Musk, who acquired the social media platform X (formerly known as Twitter) for $44 billion in 2022, is facing global criticism due to the spread of misinformation on his platform. 
In response to a post suggesting he reconsider his travel plans, Musk indicated on X that he might restrict his travel to countries where freedom of speech is constitutionally upheld.
<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">Probably wise to for me to limit movements to countries where free speech is constitutionally protected
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1829296937058832748?ref_src=twsrc%5Etfw">August 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Telegram CEO Durov was detained last week near Paris on charges related to illicit activities on his platform.
Also Read: <a href="https://www.benzinga.com/news/24/08/40544218/musk-takes-shot-at-zuckerberg-slams-instagram-over-child-exploitation-and-data-privacy">Musk Takes Shot At Zuckerberg, Slams Instagram Over Child Exploitation And Data Privacy</a>
 Musk, a staunch supporter of Durov, has condemned the arrest as an infringement of free speech, labeling it a sign of &#8220;dangerous times.&#8221;
<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">Dangerous times <a href="https://t.co/FuB6NEWOqr">https://t.co/FuB6NEWOqr</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827551868580487321?ref_src=twsrc%5Etfw">August 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
French President Emmanuel Macron has defended the arrest, asserting it was not politically motivated and that France remains committed to freedom of expression. Both Musk and Durov have come under fire for their platforms&#8217; content moderation policies, or lack thereof.
<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">I have seen false information regarding France following the arrest of Pavel Durov. France is deeply committed to freedom of expression and communication, to innovation, and to the spirit of entrepreneurship. It will remain so. In a state governed by the rule of law,…
&mdash; Emmanuel Macron (@EmmanuelMacron) <a href="https://twitter.com/EmmanuelMacron/status/1828077245606342672?ref_src=twsrc%5Etfw">August 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk is currently embroiled in a legal battle in Brazil, where a Supreme Court judge has threatened to suspend X for refusing to block accounts accused of disseminating misinformation.
Why It Matters: The arrest of Durov and the subsequent reaction from Musk underscore the growing global concern over the role of social media platforms in the spread of misinformation. 
The potential travel restrictions by Musk could signal a shift in how tech CEOs navigate the complex landscape of international law and freedom of speech.
The legal dispute in Brazil involving Musk&#8217;s platform X further highlights the challenges faced by social media platforms in balancing freedom of speech with the need to curb the spread of misinformation. 
This incident could potentially impact the operations of other social media platforms and their approach to content moderation.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Musk Considers Limiting His Travel Following Telegram CEO Arrest: 'Wise For Me To Limit Movements'

In a significant political development, <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a> has thrown his support behind <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">Florida&#8217;s Amendment 3,</a> the proposed constitutional amendment that seeks to legalize recreational marijuana. Trump&#8217;s surprising endorsement, announced via his <a href="https://truthsocial.com/@realDonaldTrump/posts/113057012516008786">Truth Social platform</a> on Saturday, comes as Floridians prepare to vote for the amendment in the <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November election</a>.
Trump&#8217;s backing of Amendment 3 is particularly noteworthy given his tough stance on drug policy, which has included <a href="https://www.benzinga.com/markets/cannabis/22/11/29741741/trump-announcement-death-to-drug-dealers-and-beautiful-american-flag-on-mars">calling for the death penalty</a> for drug dealers.
<h2 class="wp-block-heading">Change Of Tune</h2>
"In Florida, like so many other States that have already given their approval, personal amounts of marijuana will be legalized for adults with Amendment 3. Whether people like it or not, this will happen through the approval of the Voters, so it should be done correctly," <a href="https://truthsocial.com/@realDonaldTrump/posts/113057012516008786">wrote</a> Trump, who is a Florida voter.
He also said it is important to create laws that prohibit its use in public spaces "so that we don't smell marijuana everywhere we go." The widespread smell of cannabis smoke has been a constant criticism expressed by Gov. Ron DeSantis, who <a href="https://www.benzinga.com/markets/cannabis/24/07/39827912/ron-desantis-blasts-floridas-cannabis-legalization-ballot-at-rnc-it-would-allow-80-joints-a-day-">vehemently opposes</a> the legalization measure and is not likely to be happy about Trump&#8217;s endorsement.
Trump&#8217;s comments come nearly two weeks after his <a href="https://www.benzinga.com/markets/cannabis/24/08/40561136/trump-dislikes-having-people-in-jail-for-cannabis-will-he-legalize-if-elected-or-just-trying-to-">remarks on cannabis</a> including a distaste for people being incarcerated for weed.
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With Trump's influential endorsement, the conversation around marijuana legalization in Florida is likely to intensify in the weeks leading up to the election. Supporters, like former Republican Party of Florida Chair&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/40085870/ron-desantis-and-gop-stalwart-feud-over-cannabis-legalization-trump-floridas-top-cops-also-weigh" target="_blank" rel="noreferrer noopener">Joe Gruters who came out in favor</a>&nbsp;of cannabis legalization over the summer, says Trump&#8217;s support is crucial.
"I am incredibly proud to have President Trump stand alongside us in our effort to end needless arrests and incarcerations of adults for simple possession of marijuana and to give Floridians the same individual freedom to choose safe, tested products that more than half the country already enjoys," Gruters <a href="https://www.news4jax.com/news/local/2024/08/31/trump-supports-floridas-amendment-3-but-says-marijuana-legalization-should-be-done-correctly/">said</a> on New4Jax. 
<h2 class="wp-block-heading">Is DeSantis&#8217;s Anti-Weed Alliance Crumbling?</h2>
The Vote No on 3 campaign has full support of the Republican Party of Florida, though funding has been an issue.
At the moment, the pro-cannabis campaign led by&nbsp;<a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida" target="_blank" rel="noreferrer noopener">Smart and Safe Florida</a> has amassed $71.8 million as of mid-August, according to&nbsp;<a href="https://dos.elections.myflorida.com/cgi-bin/TreSel.exe" target="_blank" rel="noreferrer noopener">the latest data</a>&nbsp;from the Florida Division of Elections. This substantial war chest largely comes from&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative" target="_blank" rel="noreferrer noopener">Trulieve</a>&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) one of the state's largest medical marijuana companies. 
On the other side, opposition to Amendment 3 has raised $14.5 million, not including the recent shot in the arm when Citadel CEO&nbsp;Ken Griffin&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/08/40158903/terrible-plan-billionaire-ken-griffin-donates-12m-to-defeat-floridas-cannabis-legalization-measu" target="_blank" rel="noreferrer noopener">contributed $12 million</a>.
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Donald Trump Supports Cannabis Legalization in Florida: Game Changer And Huge Blow To Ron DeSantis

Coca-Cola HBC: Getting Interesting Despite The Russia Overhang

With a raised annual outlook and efforts to grow its flagship brand's presence, should investors consider buying Coca-Cola (KO)? Let's look at its financial metrics to gauge its prospects… Industry behemoth The Coca-Cola Company (<a href="https://stocknews.com/stock/KO">KO</a>) is poised to announce its third-quarter results later this month. The company, which surpassed estimates in the previous quarter, has subsequently raised its outlook for the fiscal year.
For 2023, KO has revised its expected growth for comparable adjusted earnings per share, <a href="https://www.cnbc.com/2023/07/26/coca-cola-ko-q2-2023-earnings.html">raising this from 4-5% to now between 5-6%</a>. This upward trend extends to its prognosis for organic revenue, which has been upgraded to anticipate a rise of 8-9%, an increase from the formerly predicted range of 7-8%.
Meanwhile, KO remains dedicated to <a href="https://www.thestreet.com/restaurants/coca-cola-adds-new-coke-and-sprite-flavors-that-could-be-big-hits">growing its presence</a> through its soda-based products. Following an array of special-edition drinks, the firm is returning to its original focus with the intention of broadening the reach of its flagship brand.
In accordance with this strategy, KO is ready to unveil "Spiced" Coke, a new addition to its principal brand, and also plans to add a fresh variant, "Sprite Chill," to its Sprite product line.
Given this backdrop, let's look at the trends of KO's key financial metrics to understand why it could be wise to buy the stock now.
Analyzing Key Financial Indicators of The Coca-Cola Company From 2020 to 2023
The trailing-12-month net income of KO has shown a general upward trend over almost three-and-a-half years, albeit with fluctuations throughout the period.
<ul>
<li style="font-weight: 400;" aria-level="1">December 2020: $7.75 billion.</li>
<li style="font-weight: 400;" aria-level="1">April 2021: $7.22 billion.</li>
<li style="font-weight: 400;" aria-level="1">July 2021: $8.08 billion.</li>
<li style="font-weight: 400;" aria-level="1">October 2021: $8.81 billion.</li>
<li style="font-weight: 400;" aria-level="1">December 2021: $9.77 billion.</li>
<li style="font-weight: 400;" aria-level="1">April 2022: $10.31 billion.</li>
<li style="font-weight: 400;" aria-level="1">July 2022: $9.57 billion.</li>
<li style="font-weight: 400;" aria-level="1">September 2022: $9.93 billion.</li>
<li style="font-weight: 400;" aria-level="1">December 2022: $9.54 billion.</li>
<li style="font-weight: 400;" aria-level="1">March 2023: $9.87 billion.</li>
<li style="font-weight: 400;" aria-level="1">June 2023: $10.51 billion.</li>
</ul>
There was an initial decrease in net income from December 2020 to April 2021, falling from $7.75 billion to $7.22 billion. From April 2021, there was an appreciable increase, with only brief dips in July 2022 and December 2022.
As of June 2023, the company's net income reached a peak of $10.51 billion, being the highest recorded net income in the series. This indicates a growth rate of roughly 35.7% from the first value in December 2020.
It's worth noting that despite the overall growth during the period, the most significant fluctuations were seen in the second and fourth quarter of each year, reflecting potential seasonal variations in the company's performance.
<img src="https://storage.googleapis.com/sjn-charts/visualized-metrics/1696592086.37857.png" />
The trailing-12-month <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> of KO has been progressively growing over the studied period, with a defining upward trend.
<ul>
<li style="font-weight: 400;" aria-level="1">The initial value stood at $33.01 billion as of December 31, 2020.</li>
<li style="font-weight: 400;" aria-level="1">By April 2022, the revenue increased by approximately $7.12 billion to reach $40.13 billion.</li>
<li style="font-weight: 400;" aria-level="1">In recent times, the revenue has shown more acceleration. By December 31, 2022, it reached $43 billion, displaying a growth of around 8% within less than a year from April 2022.</li>
<li style="font-weight: 400;" aria-level="1">Continuing this positive trajectory, the series concluded with the last revenue value of $44.14 billion as of June 30, 2023.</li>
</ul>
With reference to the first and last entries in the series, KO has experienced an estimated increase in revenue of about 33.7% across the studied time frame. The continued growth in the company's revenue indicates a persistently robust financial performance.
<img src="https://storage.googleapis.com/sjn-charts/visualized-metrics/1696592123.54338.png" />
The series represents the asset turnover of KO over a period from December 31, 2020, to June 30, 2023. There has been a consistent positive trend in the asset turnover of KO during this period, starting from 0.35 on December 31, 2020, to 0.46 on June 30, 2023. The asset turnover experienced some fluctuations within that time frame, exhibiting minor but steady quarterly increases:
<ul>
<li style="font-weight: 400;" aria-level="1">From 0.35 in December 2020 to 0.36 in April 2021.</li>
<li style="font-weight: 400;" aria-level="1">A sharper increase to 0.4 by July 2021.</li>
<li style="font-weight: 400;" aria-level="1">Continued growth, reaching 0.42 by October 2021.</li>
<li style="font-weight: 400;" aria-level="1">It hovered at 0.42 by the end of 2021 but continued its upward trend through 2022, reaching 0.43 by April, 0.44 by July, and 0.46 by December.</li>
<li style="font-weight: 400;" aria-level="1">The growth then stagnated at 0.46 in the first half of 2023.</li>
</ul>
In terms of growth rate, calculated by comparing the first value to the last, the asset turnover has grown by approximately 32% from December 31, 2020, to June 30, 2023. Despite the overall growth, emphasis on more recent data suggests a slight stagnation in growth, with the asset turnover remaining constant at 0.46 from December 2022 till June 2023.
This pattern suggests that while KO effectively utilized its assets to generate revenue during this period, this efficiency has plateaued recently. Further data would be necessary to determine whether this is a temporary stall or indicative of future trends.
<img src="https://storage.googleapis.com/sjn-charts/visualized-metrics/1696592315.12578.png" />
The trend and fluctuations in the analyst price target for KO show a general increase from $60 in November 2021 to $70 by May 2022, representing a growth rate of 16.67%. The price target began at 60 in November 2021 and remained the same up until December 23, 2021, when it increased to $61.5. Here are some key points:
<ul>
<li style="font-weight: 400;" aria-level="1">Steady Increase: From December 2021 to May 2022, there was a steady increase in the analyst price target, peaking at $70 in May 2022.</li>
<li style="font-weight: 400;" aria-level="1">Stability During Mid-Year: From May 2022 to October 2022, the analyst price target for KO remained stable at $70, despite a slight dip to $69.5 in July 2022.</li>
<li style="font-weight: 400;" aria-level="1">Downward Adjustment: From October 2022 to November 2022, there was a series of downward adjustments that saw the price target drop from $70 to $66. The price target remained at this level until mid-December.</li>
<li style="font-weight: 400;" aria-level="1">Late Year Increase: Starting from late December to the end of 2022, the analyst price target experienced a mild increase, from $66 to $68.</li>
<li style="font-weight: 400;" aria-level="1">Stability in Early 2023: From January 2023 through March 2023, the price target remained stable at $68. It then showed another small increase to $68.5, which held steady until the end of April.</li>
<li style="font-weight: 400;" aria-level="1">Final Increase: From late April 2023, the price target experienced its final increase from $68.5 to $70, where it remained stable up to at least October 2023. Overall, the data presents a picture of mild fluctuations with periods of stability and growth.</li>
</ul>
<img src="https://storage.googleapis.com/sjn-charts/visualized-metrics/1696592350.99687.png" />
Analyzing Coca-Cola's Share Price Downward Trend from April to October 2023
Based on the provided data, the share price of KO over the mentioned period is showing a general downward trend. Here's a detailed breakdown:
<ul>
<li style="font-weight: 400;" aria-level="1">On April 14, 2023, the share price was $62.74.</li>
<li style="font-weight: 400;" aria-level="1">There was a slight increase in price in April, peaking at $63.80 on April 28, 2023.</li>
<li style="font-weight: 400;" aria-level="1">The upward trend continued into May, reaching $63.93 on May 5, 2023. However, prices started to decline after that.</li>
<li style="font-weight: 400;" aria-level="1">By June 2, 2023, the share price had dropped down to $60.14.</li>
<li style="font-weight: 400;" aria-level="1">Despite minor fluctuations, the price remained around the $60 mark until the end of June 2023.</li>
<li style="font-weight: 400;" aria-level="1">In July, the price dipped further to $59.94 but rallied back up to $61.54 mid-month before receding again to end the month at $62.52.</li>
<li style="font-weight: 400;" aria-level="1">August saw a slow decline in price, ending with a value of $60.32 on August 25, 2023. - September saw a rapid decline, where the share price went from $60.17 at the beginning of the month down to $58.04 by September 22, 2023, before falling steeply down to $56.27 by the end of the month.</li>
<li style="font-weight: 400;" aria-level="1">October saw a continued downward trend, bringing the price down to $52.38 by October 5, 2023.</li>
</ul>
Over the entire course of this timespan, there's an overall decrease in the share price of KO, indicating a decelerating or negative growth rate for the company. Here is a chart of KO's price over the past 180 days.
<img src="https://storage.googleapis.com/sjn-charts/visualized-metrics/1696592419.06062.png" />
Assessing Coca-Cola's Market Performance: Quality, Sentiment, and Stability Metrics Analysis
The <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> grade of KO, which belongs to the <a href="https://stocknews.com/category/beverages/">Beverages</a> category of stocks, has been maintained at B (Buy) over several months in the year 2023, as per the data provided. Please note that in the Beverages category, there are a total of 36 stocks.
The rank of KO within its category fluctuates slightly but indicates a better position and superior performance compared to other stocks in the same category.
For instance, at the beginning of April 2023, it was ranked at #19, reaching a peak rank of #18 by mid-May and early July. However, thereafter, it slowly improved and achieved its best rank of #12 by the second week of September.
As of the latest data point, which is dated October 5, 2023, KO holds a POWR grade of B (Buy) with a rank of #14 in its category. Here's a glimpse of its performance over the past few months based on the data:
<ul>
<li style="font-weight: 400;" aria-level="1">April 15, 2023 - POWR Grade: B, Rank in Category: #19</li>
<li style="font-weight: 400;" aria-level="1">June 24, 2023 - POWR Grade: B, Rank in Category: #14</li>
<li style="font-weight: 400;" aria-level="1">August 19, 2023 - POWR Grade: B, Rank in Category: #13</li>
<li style="font-weight: 400;" aria-level="1">September 09, 2023 - POWR Grade: B, Rank in Category: #12</li>
<li style="font-weight: 400;" aria-level="1">October 6, 2023 - POWR Grade: B, Rank in Category: #14</li>
</ul>
This assessment suggests that KO has been maintaining a steady performance with room for more growth in the competitive beverages industry.
Upon examination of the POWR Ratings for KO, the three most significant dimensions can be noted - Quality, Sentiment, and Stability. Their respective ratings exhibit distinct trends over the given period. Starting from April 2023 in our dataset,
<ul>
<li style="font-weight: 400;" aria-level="1">Quality: With the highest rating across all dimensions, the value of Quality for KO has been consistently high throughout the months, remaining within a close range of 93 to 96. A trend of gradual increase has been observed, ending with a rating of 96 as of October 5, 2023.</li>
<li style="font-weight: 400;" aria-level="1">Sentiment: Although starting at 80 in April 2023, the Sentiment dimension displays a noticeable uptick from July 2023 onwards. This clear upward trend culminates in a substantial leap to reach 91 by August 2023 before it slightly drops to 85 by October 5, 2023.</li>
<li style="font-weight: 400;" aria-level="1">Stability: The Stability dimension exhibits an impressive steady performance, maintaining a constant rating of 84 from April to September 2023. Only by October 5, 2023, we detect a minor decrease when the rating steps down to 83.</li>
</ul>
These highest-rated dimensions provide evidence of KO's exceptional Quality, positive market Sentiment, and robust Stability, effectively contributing to its market standing and outlook.
<img src="https://storage.googleapis.com/sjn-charts/visualized-metrics/1696592480.24957.png" />
How does The Coca-Cola Company (KO) Stack Up Against its Peers?
Other stocks in the <a href="https://stocknews.com/category/beverages/">Beverages</a> sector that may be worth considering are Coca-Cola HBC AG (<a href="https://stocknews.com/stock/CCHGY">CCHGY</a>), Coca-Cola Consolidated, Inc. (<a href="https://stocknews.com/stock/COKE">COKE</a>), and Coca-Cola FEMSA, S.A.B. de C.V. (<a href="https://stocknews.com/stock/KOF">KOF</a>) - they have better POWR Ratings. <a href="https://stocknews.com/category/beverages/">Click here</a> to explore more stocks in the Beverages industry.
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<hr />
KO shares were trading at $52.46 per share on Friday afternoon, up $0.08 (+0.15%). Year-to-date, KO has declined -15.60%, versus a 13.25% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Anushka Dutta</h2> <img src='https:/wp-content/uploads/2021/08/Anushka-Dutta_Headshot_3.jpg' style="float:left; padding:5px;width:125px;">Anushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.<a href="https://stocknews.com/authors/?author=anushka-dutta">More...</a>The post <a href=https://stocknews.com/news/ko-cchgy-coke-kof-analyzing-the-profit-potential-for-coca-cola-ko/>Analyzing the Profit Potential for Coca-Cola (KO)</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Analyzing the Profit Potential for Coca-Cola (KO)

The beverage industry is expected to witness significant growth, driven by the inelastic demand for its products and its ability to meet shifting consumer preferences. Thus, it could be wise to add fundamentally sound beverage stocks PepsiCo (PEP), Coca-Cola (CCHGY), and Kirin Holdings (KNBWY) to your portfolio for substantial gains. Read more… With the inelastic demand for its products and the increasing disposable income of individuals, the beverage industry is well-poised for robust profitability and expansion. Further, evolving consumer preferences amid increased focus on physical and emotional well-being will boost demand for healthy drinks, propelling the market's growth.
Given the industry's bright growth prospects, quality beverage stocks PepsiCo, Inc. (<a href="https://stocknews.com/stock/PEP/">PEP</a>), Kirin Holdings Company, Limited (<a href="https://stocknews.com/stock/KNBWY/">KNBWY</a>), and Coca-Cola HBC (<a href="https://stocknews.com/stock/CCHGY/">CCHGY</a>) could be ideal additions to your portfolio for potential gains.
The beverages market is projected to reach $4.39 trillion by 2028, expanding at a <a href="https://www.mordorintelligence.com/industry-reports/beverages-market">CAGR of 4.3%</a> during the forecast period (2023-2028). Growing health consciousness and the rising prevalence of lifestyle diseases encourage consumers to opt for healthy drinks, driving the market's growth.
The non-alcoholic beverages market is poised to expand considerably, with health-conscious consumers increasingly inclining toward healthy beverage options. <a href="https://www.beveragedaily.com/Article/2023/06/08/Drizly-sees-growth-of-non-alcoholic-beverages-in-the-US">Drizly reported</a> that non-alcoholic beer, wine, and spirits are growing in popularity in the U.S., drawing on both consumer surveys and its data.
According to Statista, revenue in the non-alcoholic drinks market is expected to be $1.45 trillion in 2023 and <a href="https://www.statista.com/outlook/cmo/non-alcoholic-drinks/worldwide">grow at a 4.7% CAGR between 2023 and 2027</a>.
In addition, the growing participation of individuals in professional sports, recreational outdoor activities, and increased shift to physical fitness are creating high demands for dietary supplements, including energy drinks. Industry players are also focusing on manufacturing sugar-free beverages to cater to the needs of individuals with diabetes and other chronic conditions.
Fueled by the ongoing trends, the zero-sugar beverages market has taken the advanced gear. The market is expected to grow at a <a href="https://www.futuremarketinsights.com/reports/zero-sugar-beverages-market#:~:text=Zero%20Sugar%20Beverages%20Market%20Outlook,US%24%2013%2C150.6%20million%20by%202033.">CAGR of 14.7%</a> from 2023 to 2033, totaling $13.15 billion by 2033.
Given these encouraging trends, let's look at the fundamentals of the three best <a href="https://stocknews.com/category/beverages/">Beverages</a> stocks, beginning with the third choice.
Stock #3: PepsiCo, Inc. (<a href="https://stocknews.com/stock/PEP/">PEP</a>)
PEP manufactures, markets, distributes, and sells beverages and convenient foods globally. The company primarily offers its products under brands like Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, Aquafina, Emperador, Diet Mountain Dew, Diet Pepsi, and others.
On November 16, PEP declared a quarterly dividend of $1.265 per share, a 10% increase from the comparable year-ago period. This dividend is payable on January 5, 2024, to shareholders of record at the close of business on December 1, 2023. The dividend increase reflects the company's robust capital structure and its ability to provide stable growth in the long run.
PEP pays an annual dividend of $5.06, which translates to a yield of 3.05% at the current share price. Its four-year average dividend yield is 2.7%. Moreover, the company's dividend payouts have increased at a CAGR of 6.6% over the past five years. PepsiCo has raised its dividends for 51 consecutive years.
On October 19, Cheetos, a snack brand made by Frito-Lay, PEP's subsidiary, launched a new product line, Cheetos Pretzels. With this launch, the brand delivers a new snack with a bold taste that will amaze the category.
"Our fans are always hungry for unique ways that they can experience Cheetos' signature cheesy flavor, which is why this latest innovation is breaking into an entirely new category," said Tina Mahal, senior vice president of marketing at Frito-Lay.
PEP's net revenue increased 6.7% year-over-year to $23.45 billion in the third quarter that ended September 9, 2023. Its gross profit grew 9.6% from the year-ago value to $12.78 billion. The company's net income rose 14.4% from the prior year's quarter to $3.12 billion, and its EPS came in at $2.24, an increase of 14.8% year-over-year.
The company updated its full-year 2023 guidance to EPS growth of 13%, previously estimated at 12%. PEP reaffirmed its organic revenue growth of 10% for the full year.
Analysts expect PEP's revenue and EPS for the fourth quarter (ending December 2023) to increase 1.5% and 3% year-over-year to $28.41 billion and $1.72, respectively. Also, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
For the fiscal year 2024, the company's revenue and EPS are estimated to grow 4.7% and 7.9% from the prior year to $96.49 billion and $8.15, respectively.
The stock has declined marginally over the past month to close the last trading session at $165.68.
PEP's robust outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has an A grade for Quality. Within the B-rated <a href="https://stocknews.com/category/beverages/">Beverages</a> industry, PEP is ranked #11 of 35 stocks.
<a href="https://stocknews.com/stock/PEP/">Click here</a> to access additional ratings of PEP for Growth, Value, Momentum, Stability, and Sentiment.
Stock #2: Kirin Holdings Company, Limited (<a href="https://stocknews.com/stock/KNBWY/">KNBWY</a>)
Headquartered in Tokyo, Japan, KNBWY engages in the food and beverages, pharmaceuticals, and health science businesses. The company offers beer, wine, and spirits; dairy products; pharmaceutical products; and biochemical products. In addition, it operates factories and theme park businesses and manages a chain of Kirin City beer pubs.
On November 30, Kyowa Hakko Bio Co. Ltd, a subsidiary of KNBWY, received a no-question letter from the Food and Drug Administration (FDA) regarding its Generally Recognized as Safe Substances (GRAS) notices for three human milk oligosaccharides (HMOs). The company is committed to expanding the availability of these innovative ingredients in several countries.
On November 27, KNBWY launched a dual-care functional food supplement, Kirin iMUSE Immuno-Care and Healthya Visceral Fat Down. This product is a collaboration between Kirin iMUSE, Japan's first immune care brand, and Kao Healthya, Japan's first body fat care beverage brand from Kao Corporation.
KNBWY is committed to developing a broad line of functional food products with immune functions to help customers solve their health issues.
For the nine months that ended September 30, 2023, KNBWY's <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> grew 6.2% year-over-year to ¥1.54 trillion ($10.67 billion). The company's gross profit increased 5.5% from the year-ago value to ¥692.81 billion ($4.78 billion). Its normalized operating profit came in at ¥141.54 billion ($976.19 million), up 4.7% from the previous year's quarter.
Furthermore, as of September 30, 2023, the company's total assets were ¥2.94 trillion ($20.28 billion), compared to ¥2.54 trillion ($17.52 billion) as of December 31, 2022.
For the fiscal 2023 full year, KNBWY expects revenue of ¥2.11 trillion ($14.58 billion), while its normalized operating profit is expected to be ¥192 billion ($1.32 billion). Further, the company expects profit before tax and EPS to reach ¥196 billion ($1.35 billion) and ¥139.54, respectively.
Street expects KNBWY's revenue for the fiscal year (ending December 2024) to increase 2.5% year-over-year to $14.55 billion. The company's EPS for the same period is expected to grow 19.1% from the prior year to $1.16. Moreover, it has topped the consensus revenue estimates in three of the trailing four quarters.
Over the past three months, KNBWY's stock has gained 4.2% to close the last trading session at $14.55.
KNBWY's POWR Ratings reflect bright prospects. The stock has an overall grade of B, translating to a Buy in our proprietary rating system.
KNBWY has a B grade for Growth, Value, Stability, and Quality. It is ranked #9 among 35 stocks within the B-rated Beverages industry.
To access the other ratings of KNBWY for Momentum and Sentiment, <a href="https://stocknews.com/stock/KNBWY/">click here</a>.
Stock #1: Coca-Cola HBC (<a href="https://stocknews.com/stock/CCHGY/">CCHGY</a>)
Based in Steinhausen, Switzerland, CCHGY engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages internationally. The company markets and sells its products under Coca-Cola, Fanta, Sprite, Adez, Amita, Aperol, Avra, Fruice, Kinley, and other brands.
On November 1, CCHGY announced the completion of the previously announced <a href="https://markets.ft.com/data/announce/detail?dockey=1323-16192407-5EUON52VBKJA4SRF4N9M07MPN7">acquisition of the Finlandia vodka brand</a> from Brown-Forman Corporation for $220 million subject. Finlandia is expected to enhance CCHGY's premium spirits credentials, driving growth opportunities with premium and super-premium Non-Alcoholic Ready-To-Drink (NARTD) products.
On June 22, CCHGY announced a partnership with Genpact (<a href="https://stocknews.com/stock/G/">G</a>), a global professional services company focused on delivering outcomes that transform businesses to accelerate digital transformation for Coca-Cola HBC's finance operations and drive future growth.
"The partnership with Genpact makes us more agile and allows us to innovate and move faster on our transformation journey. It brings excellent opportunities for our business, customers, and, importantly, for our people," said Spyros Mello, Strategy and Transformation Director, CCHGY.
During the third quarter ended on September 30, 2023, CCHGY's net sales revenue increased 3.8% year-over-year to €2.79 billion ($3.01 billion).
For the first half that ended June 30, 2023, CCHGY's net sales revenue increased 19.3% year-over-year to €5.02 billion ($5.40 billion). Its operating profit grew 102.1% year-over-year to €557.30 million ($599.45 million). The company's comparable EBIT was €560.70 million ($545.03 million), an increase of 21.2% from the previous year's period.
In addition, CCHGY's net profit and comparable EPS rose 152.2% and 22.3% year-over-year to €385.70 million ($414.87 million) and €1.06, respectively.
For the fiscal year ending December 2023, the company's revenue is expected to grow 10.9% year-over-year to $10.95 billion. Similarly, analysts expect CCHGY's revenue for the fiscal year 2024 to increase 4.9% year-over-year to $11.49 billion. Also, the company topped the consensus revenue estimates in three of the trailing four quarters.
Shares of CCHGY have surged 10.8% over the past month and 21.1% year-to-date to close the last trading session at $28.65.
CCHGY's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
CCHGY has an A grade for Stability and a B for Growth and Value. It is ranked #4 out of 35 stocks in the B-rated Beverages industry.
In addition to the POWR Ratings we've stated above, we also have CCHGY ratings for Momentum, Sentiment, and Quality. Get all CCHGY ratings <a href="https://stocknews.com/stock/CCHGY/">here</a>.
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<hr />
PEP shares were trading at $167.01 per share on Monday morning, up $1.33 (+0.80%). Year-to-date, PEP has declined -4.90%, versus a 21.72% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/pep-cchgy-knbwy-g-3-beverage-stocks-to-fuel-your-portfolio-for-year-end-success/>3 Beverage Stocks to Fuel Your Portfolio for Year-End Success</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Beverage Stocks to Fuel Your Portfolio for Year-End Success

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A subject you don&rsquo;t read about a lot in the business media is investing in Greece. Europe? Sure. Even Latin America. But Greece? Not so much.&nbsp;



In December, I noticed an article from Barron&rsquo;s that discussed why Greece&rsquo;s turnaround is underway. John Paulson, the hedge fund guy, is big on the Greek markets.&nbsp;




&ldquo;Greece&rsquo;s stock market is already up 40% so far this year, and some major investors expect it has more room to run. Hedge fund billionaire John Paulson, a long-time investor in the country, is bullish and looking for more opportunities,&rdquo; wrote Barron&rsquo;s contributor Patti Domm on Dec. 19.





&ldquo;&lsquo;One measure is the value of the stock market to the total economy. It&rsquo;s about 30% in Greece today. The previous peak was 80%, and the European average has been 80%,&rsquo; Paulson said.&rdquo;




The difficulty for the average do-it-yourself is finding Greek stocks to buy that aren&rsquo;t over-the-counter. There are brokers such as Interactive Brokers Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/ibkr-stock-quote/">IBKR</a>), which can seem daunting to smaller investors. For Paulson, he&rsquo;s got a whole company to help him.&nbsp;



However, if you like investing in Greece, here are three ways to do so.&nbsp;



<h2>Global X MSCI Greece ETF (GREK)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/etf-blocks-1600-300x169.jpg" alt='the word "etf" spelled out in many yellow cubes against a background of many black cubes'><div>Source: shutterstock.com/Imagentle</div></div>


The easiest way to invest in Greece is to buy the Global X MSCI Greece ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/grek-stock-quote/">GREK</a>). The ETF tracks the performance of the MSCI All Greece Select 25/50 Index, investing in the largest and most liquid companies in Greece.&nbsp;




&ldquo;GREK is the first and only ETF to directly target Greece,&rdquo; <a href="https://www.globalxetfs.com/funds/grek/" target="_blank">Global X&rsquo;s website states</a>




Because it can be challenging to invest in Greece from the United States, it&rsquo;s understandable that the ETF has managed to gather more than $185 million in net assets.



The ETF currently invests in 26 companies. These companies have a weighted average market capitalization of $4.11 billion, a 16.6% return on equity, and an 8.5 price-to-earnings ratio.&nbsp;



The top three sectors by weight are financials (41.8%), industrials (18.4%), and utilities (11.1%). Interestingly, there is no tech component. That in itself makes GREK an outlier from most ETFs.&nbsp;



As of Dec. 31, 2023, GREK&rsquo;s one-year return was 42.7%. Over the past five years, its annualized return was 15.1%. That&rsquo;s slightly better than the S&amp;P 500.



It charges 0.57% annually, which isn&rsquo;t too bad for an emerging market.&nbsp;&nbsp;



<h2>National Bank of Greece (NBGRY)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/banks1600-300x169.jpg" alt="Image of a grey cityscape with a large corporate building that features the word bank on it"><div>Source: Shutterstock</div></div>


National Bank of Greece (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nbgry-stock-quote/">NBGRY</a>) is an ADR (American Depositary Receipt) trading over-the-counter in the U.S. <a href="https://www.nbg.gr/en/group/activities/bank" target="_blank">The bank was founded in 1841</a>, making it the first bank of the modern Greek state.&nbsp;



In business for 182 years, it has approximately 356 branches across Greece, serving six million clients and 2.8 million active digital banking users. The bank is the largest holding of GREK, representing 13.89% of the ETF&rsquo;s net assets.&nbsp;



As I look at the bank&rsquo;s Q3 2021 press release, its CET1 capital ratio stands out as a big positive at <a href="https://www.nbg.gr/-/jssmedia/Files/Group/enhmerwsh-ependutwn/Press-Releases/NBG-3Q23-Results-Press-Release-E.pdf?rev=490d366017054774867c049919b7cdbf&amp;_gl=1&#x2A;1neogtp&#x2A;_ga&#x2A;MTU5OTIxNTU4My4xNzA1NDI0ODYw&#x2A;_up&#x2A;MQ..&#x2A;_ga_44Y14P97V7&#x2A;MTcwNTQyNDg1OS4xLjAuMTcwNTQyNDg2OS4wLjAuMA..">17.9%</a>, up from 17.3% in Q2 2023 and 15.2% a year ago. By comparison, JPMorgan Chase&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/jpm-stock-quote/">JPM</a>) CET1 ratio was <a href="https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2023/3rd-quarter/fa584ba1-9ee9-4b87-8ac4-eb9be0e9744b.pdf">14.3%</a> at the end of September.&nbsp;



Now, I&rsquo;m not suggesting it&rsquo;s in the same league as Jamie Dimon&rsquo;s baby, but it&rsquo;s much better than what one might expect from a Greek bank.



With 35.32 billion euros ($38.40 billion) in loans and 56.29 billion euros ($61.20 billion) in deposits, it&rsquo;s more than holding its own with banks in other emerging markets.&nbsp;



<h2>Coca-Cola HBC (CCHGY)&nbsp;&nbsp;</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/coke-1600-300x169.png" alt="Coca-Cola Consolidated sign outside of their building. COKE Stock."><div>Source: Jonathan Weiss / Shutterstock</div></div>


Coca-Cola HBC (OTCMKTS:<a href="https://investorplace.com/stock-quotes/cchgy-stock-quote/">CCHGY</a>) bottles and sells Coca-Cola (NYSE:<a href="https://investorplace.com/stock-quotes/ko-stock-quote/">KO</a>) products in <a href="https://www.coca-colahellenic.com/en/about-us/at-a-glance">29 countries</a>, including Egypt, its newest market, which it entered in <a href="https://www.beveragedaily.com/Article/2022/01/13/Coca-Cola-HBC-AG-completes-acquisition-of-majority-stake-in-Coca-Cola-Bottling-Company-of-Egypt">January 2022</a>, with the acquisition of 52.7% of the Coca-Cola Bottling Company of Egypt. Later that month, it acquired an additional <a href="https://tools.euroland.com/tools/Pressreleases/GetPressRelease/?ID=4035753&amp;lang=en-GB&amp;companycode=ch-cch&amp;v=">42%</a>. It now holds 94.7%.&nbsp;&nbsp;



Other countries in<a href="https://www.coca-colahellenic.com/en/about-us/who-we-are/where-we-operate" target="_blank"> which it operates include Austria</a>, Ireland, Croatia, Latvia, Belarus, Nigeria and Greece.&nbsp;



The Greek portion of its business <a href="https://www.coca-colahellenic.com/en/about-us/who-we-are/history" target="_blank">started in 1969</a> as the Hellenic Bottling Company based in Athens. In 1991, its shares were listed on the Athens Stock Exchange. On Aug. 9, 2000, <a href="https://www.sec.gov/Archives/edgar/data/1190713/000095012303012650/u46807fv4.htm#:~:text=CCHBC%20was%20formed%20on%20August,and%20Coca%2DCola%20Beverages%20plc." target="_blank">Hellenic merged with Coca-Cola Beverages plc</a> to form Coca-Cola Hellenic Bottling Company. It listed its ADS&rsquo; (American Depositary Shares) on the NYSE in October 2002.&nbsp;



However, once it was listed on the London Stock Exchange in April 2013, its NYSE listing became redundant. It was delisted on <a href="https://www.manufacturing-supply-chain.com/coca-cola-hbc-to-delist-from-new-york-stock-exchange/">July 24, 2014</a>. The company officially moved to Zug, Switzerland, in April 2013 to lower its corporate tax rate. The European Parliament&rsquo;s November 2015 report on multinational corporate taxation suggests the company saved <a href="https://www.europarl.europa.eu/cmsdata/93083/Coca-Cola.pdf">30 million euros</a> ($32.6 million) in tax in 2014 alone.&nbsp;&nbsp;&nbsp;&nbsp;



The company&rsquo;s been busy in the last couple of years making acquisitions. In August 2022, it acquired the super-premium Three Cents brand of mixers for <a href="https://tools.euroland.com/tools/Pressreleases/GetPressRelease/?ID=4148267&amp;lang=en-GB&amp;companycode=ch-cch&amp;v=">45 million</a> euros ($48.9 million). In June 2023, it made an even bigger splash, acquiring Finlandia vodka from Brown-Forman (NYSE:<a href="https://investorplace.com/stock-quotes/bf.b-stock-quote/">BF.B</a>) for <a href="https://tools.euroland.com/tools/Pressreleases/GetPressRelease/?ID=4343492&amp;lang=en-GB&amp;companycode=ch-cch&amp;v=">$220 million</a>. Coca-Cola HBC distributed the product for 17 years, so it was a logical choice to purchase the brand from the maker of Jack Daniels.&nbsp;&nbsp;



If you want an even safer way to play it, Coca-Cola <a href="https://www.coca-colahellenic.com/en/investor-relations/shareholder-centre/shareholder-structure" target="_blank">owns 21% of Coca-Cola HBC</a>.&nbsp;&nbsp;&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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Despite macroeconomic concerns, beverage demand is expected to remain stable, thanks to consumer preferences and rising health awareness. Therefore, fundamentally strong beverage stocks Fomento Económico Mexicano (FMX), Kirin Holdings (KNBWY) and Coca-Cola (CCHGY) might be ideal additions to your portfolio. Read on... The beverage industry is expected to thrive due to inelastic demand, changing consumer preferences, technological advancements, and effective marketing strategies, all of which are expected to drive future growth.
Given the industry's growth prospects, fundamentally strong beverage stocks Fomento Económico Mexicano, S.A.B. de C.V. (<a href="https://stocknews.com/stock/FMX/">FMX</a>), Kirin Holdings Company, Limited (<a href="https://stocknews.com/stock/KNBWY/">KNBWY</a>) and Coca-Cola HBC (<a href="https://stocknews.com/stock/CCHGY/">CCHGY</a>) might be worth buying.
Before discussing the fundamentals of these stocks in detail, let's see what's driving the beverage industry.
In 2024, the global non-alcoholic beverages market is expected to attain a value of $987.30 billion, and it is poised for significant expansion, reaching a projected value of $1.89 trillion by 2034, exhibiting a CAGR of 6.7% during the forecast period.
The global ready-to-drink beverage market is expected to reach $176.57 billion by 2030, expanding at a <a href="https://www.maximizemarketresearch.com/market-report/ready-to-drink-beverages-market/200422/">7.1% CAGR</a>. The growth of the ready-to-drink beverage market can be attributed to the increasing demand for convenience and on-the-go consumption. Additionally, the rising popularity of healthier beverage options among consumers is also driving market growth.
In addition, the global functional beverages market is expected to grow at a <a href="https://www.thebusinessresearchcompany.com/report/functional-beverages-global-market-report">5.9% CAGR</a> to $207.77 billion by 2028. The growing demand for functional beverages is driven by health-conscious consumers seeking healthier options with added benefits like improved energy, immunity, and digestion, resulting in market growth.
Considering these conducive trends, let's take a look at the fundamentals of the three above-mentioned <a href="https://stocknews.com/category/beverages/">Beverages</a> stocks, starting with the third pick.
Stock #3: Fomento Económico Mexicano, S.A.B. de C.V. (<a href="https://stocknews.com/stock/FMX/">FMX</a>)
Based in Monterrey, Mexico, FMX, through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages.
In terms of trailing-12-month EV/EBITDA multiple, FMX is trading at 8.64 is 21.7% lower than the industry average of 11.18. In addition, FMX's trailing-12-month EV/Sales of 1.20x is 27.2% lower than the industry average of 1.64x.
FMX's trailing-12-month net income margin of 8.92% is 87.6% higher than the industry average of 4.76%. Its trailing-12-month <a href="https://www.investopedia.com/terms/r/return_on_total_assets.asp#:~:text=The%20ROTA%20metric%20can%20be,it%20should%20be%20in%20reality.">ROTA</a> is 8.30% is 80.8% higher than the industry average of 4.59%.
FMX's total revenue increased 19.3% year-over-year to Mex$188.10 billion ($10.96 billion) in the third quarter that ended September 30, 2023. The company's gross profit rose 22.1% from the year-ago value to Mex$72.08 billion ($4.20 billion), while its income from operations grew 12.6% from the prior-year quarter to Mex$15.93 billion ($928.57 million).
Also, its EBITDA increased 15.1% from the year-ago value to Mex$25.37 billion ($1.48 billion).
FMX's revenue grew at CAGR of 15.4% over the past three years. In addition, its net income grew at 154.7% CAGR over the past three years.
Analysts expect FMX's revenue to increase 6.9% year-over-year to $47.63 billion for the year ending December 2024. Its EPS is expected to come in at $5.68 for the same period. It is expected to surpass EPS in three of four trailing quarters. The stock has gained 65.8% over the past year to close the last trading session at $140.14.
FMX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
FMX has a B grade for Growth, Stability, Sentiment and Quality. Within the B-rated <a href="https://stocknews.com/category/beverages/">Beverages</a> industry, it is ranked #12 out of 34 stocks. To see additional POWR Ratings for Value and Momentum for FMX, <a href="https://stocknews.com/stock/FMX/">click here</a>.
Stock #2: Kirin Holdings Company, Limited (<a href="https://stocknews.com/stock/KNBWY/">KNBWY</a>)
Headquartered in Tokyo, Japan, KNBWY engages in the food and beverages, pharmaceuticals, and health science businesses. The company offers beer, wine, and spirits; dairy products; pharmaceutical products; and biochemical products. In addition, it operates factories and theme park businesses and manages a chain of Kirin City beer pubs.
KNBWY's forward EV/Sales of 1.24x is 24.4% lower than the industry average of 1.64x. Its forward Price/Sales of 0.83x is 25.2% lower than the industry average of 1.12x.
KNBWY's trailing-12-month CAPEX / Sales of 5.70% is 78.6% higher than the 3.19% industry average. Its trailing-12-month gross profit margin of 45.28% is 34.4% higher than the 33.70% industry average.
For the year that ended December 31, 2023, KNBWY's revenue grew 7.3% year-over-year to ¥2.13 trillion ($14.18 billion). The company's profit increased 4.6% from the year-ago value to ¥150.44 billion ($999.12 million). Its earing per share came in at ¥139.16, up 3% from the previous year's quarter.
Furthermore, as of September 30, 2023, the company's total assets were ¥2.87 trillion ($19.06 billion), compared to ¥2.54 trillion ($17.52 billion) as of December 31, 2022.
KNBWY's revenue grew at CAGR of 3.7% over the past three years. In addition, its total assets grew at 6.6% CAGR over the past three years.
The consensus revenue came in at $14.61 billion for the fiscal year ending December 2024 represents a 3.3% increase year-over-year. Its EPS is expected to grow 19.8% year-over-year to $1.17 for the same period. KNBWY's shares have gained 4.4% past six months to close the last trading session at $14.39.
It's no surprise that KNBWY has an overall B rating, equating to a Buy in our POWR Ratings system. It has a B grade for Value, Growth, Stability and Quality. It is ranked #7 in the same industry.
Beyond what is stated above, we've also rated KNBWY for Sentiment and Momentum. Get all KNBWY ratings <a href="https://stocknews.com/stock/KNBWY/">here</a>.
Stock #1: Coca-Cola HBC (<a href="https://stocknews.com/stock/CCHGY/">CCHGY</a>)
Based in Steinhausen, Switzerland, CCHGY engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages internationally. The company markets and sells its products under Coca-Cola, Fanta, Sprite, Adez, Amita, Aperol, Avra, Fruice, Kinley, and other brands.
CCHGY's forward EV/Sales of 1.15x is 30.1% lower than the industry average of 1.64x. Its forward Price/Sales of 0.92x is 18% lower than the industry average of 1.12x.
CCHGY's trailing-12-month ROCE of 20.64% is 80.6% higher than the industry average of 11.43%. Its 6.48% trailing-12-month net income margin is 36.2% higher than the 4.76% industry average.
For the year that ended December 31, 2023, CCHGY's net sales revenue increased 10.7% year-over-year to €10.18 billion ($10.90 billion). Its operating profit grew 35.5% year-over-year to €953.60 million ($1.02 billion). The company's comparable EBIT was €1.08 billion ($1.16 billion), an increase of 16.6% from the previous year's period.
In addition, CCHGY's net profit and comparable EPS rose 53.2% and 52.6% year-over-year to €636.50 million ($681.46 million) and €1.73, respectively.
CCHGY's revenue grew at CAGR of 15.5% over the past three years. In addition, its net income grew at 15.9% CAGR over the past three years.
Street expects CCHGY's revenue to come in at $11.62 billion for the year ending December 2024, increase 4.4% year-over-year. Shares of CCHGY have gained 17.7% over the past year to close the last trading session at $27.58.
CCHGY has an overall A rating, equating to a Strong Buy in our POWR Ratings system.
CCHGY's is ranked #2 in the same industry. It has an A grade for Stability and a B for Growth and Value. To see additional CCHGY's ratings for Sentiment and Quality, <a href="https://stocknews.com/stock/CCHGY/">click here</a>.
What To Do Next?
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FMX shares were trading at $141.30 per share on Wednesday afternoon, up $1.16 (+0.83%). Year-to-date, FMX has gained 8.40%, versus a 4.27% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rashmi Kumari</h2> <img src='https:/wp-content/uploads/2022/10/Rashmi-Kumari_headshot_2-1.jpg' style="float:left; padding:5px;width:125px;">Rashmi is passionate about capital markets, wealth management, and financial regulatory issues, which led her to pursue a career as an investment analyst. With a master's degree in commerce, she aspires to make complex financial matters understandable for individual investors and help them make appropriate investment decisions.<a href="https://stocknews.com/authors/?author=rashmi-kumari">More...</a>The post <a href=https://stocknews.com/news/fmx-knbwy-cchgy-3-beverage-stocks-poised-for-2024-growth/>3 Beverage Stocks Poised for 2024 Growth</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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