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The U.S. Securities and Exchange Commission has filed a lawsuit against Patrick Orlando, the former CEO of Digital World Acquisition Corp, the company that facilitated the public listing of Donald Trump&#39;s social media venture. The lawsuit, filed on Wednesday, alleges Orlando of committing securities fraud.

Trump-Linked Digital World&#39;s Former CEO Sued By SEC For Securities Fraud

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Democratic presidential candidate Kamala Harris formally referenced cryptocurrency for the first time during her election campaign, promising to safeguard the industry&#8217;s interests.
What happened: During a fundraiser at Cipriani Wall Street in Manhattan, the incumbent vice president marketed her pro-emerging technology agenda, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-22/harris-vows-to-grow-ai-crypto-industries-in-pitch-to-nyc-donors?utm_source=twitter&amp;utm_campaign=socialflow-organic&amp;utm_medium=social&amp;utm_content=crypto">reported </a>Sunday.&nbsp;
"We will partner together to invest in America's competitiveness, to invest in America's future. We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors," Harris said.
The first public mention of cryptocurrency elicited cheers from Harris campaign supporters.&nbsp;
Rep. Wiley Nickel (D-N.C.) dubbed it a "huge" policy development and a significant reset on her positions on cryptocurrencies and blockchains.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8;Huge policy news! <a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> signals a very significant reset on crypto and blockchain technology. This new policy position puts her in line with <a href="https://twitter.com/hashtag/FIT21?src=hash&amp;ref_src=twsrc%5Etfw">#FIT21</a> House and Senate Democrats working to protect consumers and keep digital innovation in the United States. &#x1f1fa;&#x1f1f8; <a href="https://t.co/tSNudVGJsw">https://t.co/tSNudVGJsw</a>
&mdash; Rep. Wiley Nickel &#x1f1fa;&#x1f1f8; (@WileyNickel) <a href="https://twitter.com/WileyNickel/status/1837966805970964686?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
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Anthony Scaramucci, CEO of investment firm SkyBridge Capital, said, "Kamala means Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in every language."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Kamala means Bitcoin in every language
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1838016216645914765?ref_src=twsrc%5Etfw">September 23, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">Bitcoin&#8217;s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against &#8216;Possible Future Events&#8217; Affecting The Dollar</a>
Why It Matters: Cryptocurrency has emerged as a significant election issue this year, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39136615/survey-crypto-stance-could-sway-one-third-of-2024-voters">one survey indicating that one-third of voters</a> will consider a candidate's stance on digital assets before making their political choices.&nbsp;
Former President Donald Trump has taken the lead in courting the expanding population, and the Republican contender even <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">launched a cryptocurrency project</a> right before the November elections.
Until the latest acknowledgment, Harris's stance on cryptocurrencies was unclear, though <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385566/mark-cuban-gets-an-assurance-out-of-chuck-schumer-will-pass-sensible-and-long-lasting-cryp">advocacy groups like &#8220;Crypto for Harris&#8221;</a> have been trying to muster support for her and counterbalance Trump's campaign.
Price Action: At the time of writing, Bitcoin was exchanging hands at $63,887.21, up 1.07% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Wikimedia Commons
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Politics

$BTC

Kamala Harris Finally Mentions Crypto And That Too On Wall Street: Promises To Encourage 'Innovative Technologies' Like Digital Assets

Peter Schiff, a prominent gold advocate and vocal critic of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), has raised concerns about former President Donald Trump&#8216;s recent promise of a Mars landing. Schiff&#8217;s critique draws parallels between current economic challenges and historical spending on space exploration and social programs.
What Happened: In a post on social media platform X, Schiff <a href="https://x.com/PeterSchiff/status/1837640136600801783">stated</a>, &#8220;The reason we had so much inflation during the 1970s was the deficit spending during the 1960s on the Great Society, the War on Poverty, the Vietnam War (we lost both wars), and going to the moon. Now, with the U.S. in worse financial shape, Trump has promised a Mars landing.&#8221;
Schiff&#8217;s remarks follow Trump&#8217;s recent <a href="https://x.com/elonmusk/status/1837592820338905214">declaration</a> that the U.S. is leading in space over Russia and China, with plans to collaborate with Elon Musk to expedite a Mars landing before the end of his term.
Meanwhile, SpaceX and Tesla Inc CEO Musk has outlined ambitious plans for Mars exploration. Musk detailed a timeline that includes launching five uncrewed Starships to Mars within two years, with potential crewed missions in four years if these initial landings prove successful.
Musk emphasized the importance of making Mars travel accessible, stating, &#8220;We want to enable anyone who wants to be a space traveler to go to Mars!&#8221; He also expressed concerns about regulatory hurdles, noting that &#8220;the Starship program is being smothered by a mountain of government bureaucracy that grows every year.&#8221;
In response to Musk&#8217;s post, Schiff commented, &#8220;I have no issues with SpaceX going to Mars. I just don&#8217;t want the government to do it.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I agree that democrats are worse than republicans. But there are plenty of republican supported regulations that also need to be repealed. Hopefully you will be able to help bring that about. I have no issues with SpaceX going to Mars. I just don&#39;t want the government to do it.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1837922682081366157?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/09/40970828/data-scientists-election-prediction-kamala-harris-receives-historic-endorsement-from-magazine-elon-m">Data Scientist&#8217;s Election Prediction, Kamala Harris Receives Historic Endorsement From Magazine, Elon Musk Suggests Warren Buffett Is Preparing For A Harris Win And More: Top Political Update This Week</a>
Why It Matters: The debate over space exploration has intensified recently, with Musk facing regulatory hurdles for SpaceX. Rep.&nbsp;Kevin Kiley&nbsp;(R-Calif.) recently <a href="https://www.benzinga.com/government/24/09/40972034/elon-musk-responds-as-california-congressman-slams-bureaucratic-roadblocks-for-spacex-program-agenci">praised SpaceX&#8217;s Polaris Dawn</a> mission but criticized bureaucratic obstacles. The mission, which launched on Sept. 10, saw a private crewed spaceflight reach the farthest distance from Earth since NASA&#8217;s Apollo program.
Additionally, Musk&#8217;s recent endorsement of Trump for the <a href="https://www.benzinga.com/24/09/40971977/elon-musk-says-biden-belied-his-2020-expectations-and-turned-out-to-be-a-radical-leftist-puppet-why">2024 presidential race</a> has added another layer to the political discourse. Musk, who previously leaned towards Joe Biden, now describes him as a &#8220;radical leftist puppet.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/24/09/40971374/elon-musk-responds-to-venture-capitalists-claim-on-government-subsidies-for-spacex-tesla-do-some-res">Elon Musk Responds to Venture Capitalist&#8217;s Claim On Government Subsidies For SpaceX, Tesla: &#8216;Do Some Research Before You Display Your Utter Ignorance&#8217;</a></li>
</ul>
Images via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SPACE

Trump's Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches To Red Planet In 2 Years: 'Just Don't Want The Government To Do It'

Jeff Bezos-backed Perplexity AI, <a href="https://www.benzinga.com/news/24/03/37421021/this-jeff-bezos-backed-ai-tool-can-replace-search-engine-for-many-people-says-top-ex-googler-but-the">a&nbsp;startup challenging</a>&nbsp;Alphabet Inc.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, is in discussions with top brands like Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) and Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>).
What Happened: Perplexity&nbsp;is developing a &#8220;sponsored&#8221; question system to challenge Google&#8217;s auction-based ads model, as it plans to <a href="https://www.benzinga.com/news/24/08/40523773/jeff-bezos-backed-perplexity-ai-gears-up-to-integrate-ads-in-search-results-taking-a-leaf-out-of-goo">disrupt the tech giant&#8217;s dominance</a> in&nbsp;the $300 billion digital ads industry, <a href="https://www.ft.com/content/ecf299f4-e0a9-468b-af06-8a94e5f0b1f4">reported</a> Financial Times.
The San Francisco-based startup has been in talks with a select group of top-tier companies, including&nbsp;Nike&nbsp;and&nbsp;Marriott, with plans to launch the ads system by year-end.
Perplexity&#8217;s new model allows brands to bid for a &#8220;sponsored&#8221; question featuring&nbsp;an AI-generated answer approved by&nbsp;the advertiser.
See Also:&nbsp;<a href="https://www.benzinga.com/news/23/05/32623067/how-to-take-the-perfect-moon-shot-using-an-iphone-14?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Take The Perfect Moon Shot Using An iPhone 15</a>
Perplexity CEO Aravind Srinivas, a former Google intern, stated, &#8220;Ads are really useful when they are relevant and coming from brands that are high quality, and a lot of people make purchases based on that.&#8221;
Srinivas expressed his ambition for the advertising system to become &#8220;a money-printing machine.&#8221;
The startup&#8217;s ad system will charge marketers on a CPM basis, costing&nbsp;above $50 for every 1,000&nbsp;impressions generated by these sponsored&nbsp;posts.
This is in stark contrast to Google&#8217;s&nbsp;estimated $1,100 for the same&nbsp;number of impressions, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters:&nbsp;In April earlier this year, <a href="https://www.benzinga.com/news/24/04/38398735/jeff-bezos-backed-perplexity-ai-is-now-a-unicorn-after-latest-fundraise-softbanks-masayoshi-son-nvid">Perplexity&nbsp;became a unicorn</a>, following a successful funding round that more than doubled its valuation to over $1 billion.
The startup&#8217;s revenue and usage have grown 700% since the start of the year, with the AI-powered search engine answering about <a href="https://www.benzinga.com/general/entrepreneurship/24/08/40292703/perplexity-ais-revenue-usage-skyrocket-as-it-enters-into-advertising">250 million questions in the last month</a>, up from 500 million queries for all of last year.
Perplexity investors include AI chipmaker&nbsp;Nvidia Corporation, Amazon&nbsp;founder&nbsp;Bezos,&nbsp;OpenAI&nbsp;co-founder&nbsp;Andrej Karpathy, and&nbsp;Meta Platform Inc.&#8216;s chief AI scientist&nbsp;Yann LeCun.
In June, Forbes and Wired accused Perplexity of plagiarism, alleging that the AI startup replicated articles without proper attribution and accessed websites that had specifically blocked its crawlers.
Perplexity acknowledged the claims in response, stating that the company had updated its user interface to highlight citations more clearly and adjusted its system to avoid summarizing content from such websites.
Photo courtesy: Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40851084/mark-cuban-was-once-tending-a-bar-in-dallas-but-quickly-realized-he-wasnt-great-at-working-for-peopl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Was Once Tending A Bar In Dallas But Quickly Realized He Wasn&#8217;t Great At Working For People</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

GOOG

GOOGL

Jeff Bezos-Backed Perplexity AI In Discussion With Marriott And Nike As It Prepares To Challenge To Google's Dominance

&#8220;Shark Tank&#8221; fame billionaire Mark Cuban recently slammed hedge fund manager and founder of Pershing Square Capital Management Bill Ackman&#8217;s views on the candidacy of Kamala Harris.
What Happened: Cuban responded to a post by Bill Ackman, which criticized Harris&#8217;s candidacy and the circumstances surrounding her rise to the presidential nominee position. Ackman accused Harris of being complicit in what he called &#8220;the greatest lie ever told to the American people by our government,&#8221; referring to the health status of former President Joe Biden.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let's not forget that <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> Biden was the Democratic presidential candidate 63 days ago. We were told by the administration and the media that Biden was in perfect health and that videos of him exhibiting serious deterioration were ‘right wing propaganda.' Then, threatened… <a href="https://t.co/QHtVdhawJY">https://t.co/QHtVdhawJY</a>
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1837777743464865852?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/09/40953535/anybody-who-votes-for-a-democrat-or-kamala-worst-you-should-have-your-head-examined-trump-tells-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Anybody Who Votes For A Democrat Or Kamala, Worst…You Should Have Your Head Examined:&#8217; Trump Tells Voter</a>
Ackman also expressed his disappointment with Harris&#8217;s campaign strategy, accusing her of evading direct questions about the economy, the border, or foreign policy. He suggested that her campaign was a blatant attempt to say what she needs to say to get elected.
Cuban said in <a href="https://x.com/mcuban/status/1837833875571069414?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1837833875571069414%7Ctwgr%5E8e4c71f4fa37fc5a73a1c473e778646c0b22e9c3%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Fpost%3D560083action%3Dedit">response</a>: &#8216;When the competition hires a new CEO and she is kicking your a&#x2A;&#x2A; …&#8217;
Why It Matters: Cuban&#8217;s critical response to Ackman&#8217;s thread comes amidst a <a href="https://www.benzinga.com/news/24/09/40971721/voters-warm-to-kamala-harris-as-election-nears">surge in Harris&#8217;s popularity</a> Recent polls suggest a slight advantage for Harris over Trump, with a Morning Consult poll showing Harris leading by 6 percentage points nationwide.
Notably, Cuban, a supporter of the vice president, had previously expressed some skepticism about Harris&#8217;s economic proposals. In August, he engaged in a storm of posts about Harris&#8217;s economic plans, particularly around the <a href="https://www.benzinga.com/personal-finance/24/08/40544099/mark-cuban-responds-to-kamala-harris-economic-plan-with-dozens-of-tweets-says-she-didnt-mention-">issue of price controls</a>.
Cuban&#8217;s relationship with Donald Trump, the other presidential candidate, has been <a href="https://www.benzinga.com/startups/24/08/40582769/mark-cuban-now-calls-trump-a-snake-oil-salesperson-but-reveals-they-were-once-so-friendly-that-trump">complicated</a>. He once referred to Trump as a &#8220;snake oil salesperson,&#8221; but admitted they were once on good terms, with the former president even seeking his advice on stocks at one point.
Photo courtesy: Shutterstock
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Mark Cuban Issues A Stinging Retort To Bill Ackman's Attack On Kamala Harris: 'She Is Kicking Your A**…'

Former President Donald Trump has declared that he will not pursue another presidential run if he is defeated in the forthcoming November election.
What Happened: Trump, in a conversation with Sinclair Broadcast Group&#8217;s &#8220;Full Measure&#8221; on Sunday, dismissed the idea of another presidential run if he loses the upcoming election, as reported by <a href="https://abcnews.go.com/Politics/trump-run-loses-november/story?id=113910212">ABC News</a>.
When asked by host Sharyl Attkisson about another run, he replied, &#8220;I don&#8217;t see that at all. I think that, hopefully, we&#8217;re going to be successful.&#8221;
Trump, currently the oldest presidential nominee in history, is in the race following President Biden&#8217;s decision not to run for the 2024 election. Age and mental acuity have been significant concerns in this election cycle.
Amid his third presidential bid, Trump has been balancing his campaign activities with court appearances related to four criminal cases against him.
See Also: <a href="https://www.benzinga.com/24/09/40954613/kim-jong-uns-show-of-force-with-missiles-indicates-north-korea-is-no-longer-interested-in-negotiatio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un&#8217;s &#8216;Show Of Force&#8217; With Missiles Indicates North Korea Is No Longer Interested In Negotiations</a>
Why It Matters: The 2024 presidential election has seen a tight contest between Trump and Vice President Kamala Harris. Recent polling data, including over 20 swing-state polls conducted post the September 10 debate, suggests a <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls">slight lead</a> for Harris over Trump. 
Despite Harris trending upwards in the polls, Trump has been <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">gaining ground</a> in key battleground areas. The election could hinge on the results from these swing states. 
Meanwhile, Harris has seen a surge in popularity with a <a href="https://www.benzinga.com/news/24/09/40971721/voters-warm-to-kamala-harris-as-election-nears">significant uptick</a> in her favorability. This shift is noteworthy, given her previously low polling figures. 
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Says No To Another Run If He Loses 2024 Election To Kamala Harris: 'Hopefully, We're Going To Be Successful'

House GOP leaders have put forth a three-month plan to keep the government funded, in the wake of Speaker Mike Johnson&#8217;s (R-La.) initial plan failing due to Republican opposition.
What Happened: The continuing resolution (CR) was a product of bipartisan negotiations in the House and Senate. The resolution, which maintains current funding levels until December 20, sets the stage for a holiday funding battle. The three-month timeframe is a reduction from Johnson&#8217;s initial six-month proposal and notably omits a Donald Trump-endorsed measure requiring proof of citizenship to vote, <a href="https://thehill.com/homenews/house/4892931-government-funding-continuing-resolution-deal-mike-johnson/">reported</a> The Hill.
Republican leaders aim to bring the bill to a floor vote by Wednesday, with the goal of sending it to the Senate before the September 30 shutdown deadline. Johnson warned Republicans against a shutdown, stating in a &#8220;Dear Colleague&#8221; letter, &#8220;As history has taught and current polling affirms, shutting the government down less than 40 days from a fateful election would be an act of political malpractice.&#8221;
The bill also earmarks $231 million for the Secret Service, which has recently come under scrutiny following an apparent second assassination attempt against former President Trump. Johnson characterized the legislation as &#8220;a very narrow, bare-bones CR including only the extensions that are absolutely necessary.&#8221;
House Republicans will likely require Democratic support to pass the legislation, as many GOP lawmakers are anticipated to oppose the bill due to the lack of spending cuts, shorter timeframe, and exclusion of the voting bill. The bill&#8217;s passage may face obstacles as it will need to clear a procedural vote, which are traditionally party-line affairs.
See Also: <a href="https://www.benzinga.com/news/24/09/40967938/jpmorgan-ceo-jamie-dimon-calls-for-federal-employees-to-return-to-office-says-empty-buildings-bother?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Calls For Federal Employees To Return To Office, Says Empty Buildings &#8216;Bother&#8217; Him: &#8216;I Can&#8217;t Believe&#8230;&#8217;</a>
Why It Matters: This development follows the <a href="https://www.benzinga.com/news/24/09/40931809/house-republicans-reject-their-own-funding-bill-as-government-shutdown-looms-mike-johnson-says-we-ha">rejection</a> of Speaker Johnson&#8217;s initial funding bill by House Republicans. The failure of the bill complicated efforts to avert a government shutdown at the end of the month.
Earlier, Senate Majority Leader, Chuck Schumer (D-N.Y.), had warned of potential blame for a government shutdown due to "Republican poison pills." He cautioned that the American public would hold Republicans accountable if a shutdown occurs.
Photo via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

House GOP Leaders Pitch 3-Month Funding Plan, Drop Trump-Backed Voter ID Proposal: Mike Johnson Says Shutting Government Down 40 Days From Election Is 'Political Malpractice'

With over 100 patents and 30 years of experience in food, pharmaceutical, and cannabis packaging, Jim Sanfilippo is transforming cannabis safety.
His groundbreaking cryogenic pasteurization technology at VIST Labs is solving one of the industry&#8217;s dirtiest secrets: microbial contamination.
Operating in a $35 billion market, Sanfilippo's innovations are crucial for cannabis brands striving to maintain product integrity while navigating complex regulatory challenges.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">From Nuts To Frozen Nuggs</h3>
Sanfilippo's expertise in packaging dates back to his family's food business, where his innovations in oxygen-free packaging for nuts led to breakthroughs in the food and pharmaceutical sectors. He has spent decades optimizing shelf life and safety. In 2017, after selling two divisions of his business to packing behemoth Sonoco, he turned his attention to cannabis.
&#8220;Cannabis is a $35 billion industry in the U.S.,&#8221; Sanfilippo said, noting that its microbial contamination issues are particularly concerning​.
<h3 class="wp-block-heading">Cryogenic Pasteurization: The Cannabis Industry's Dirty Little Secret</h3>
At the heart of <a href="https://vistlabs.com/">VIST Labs' breakthrough</a> is the cryogenic pasteurization process, which leverages medical-grade cryogenic vapor to<a href="https://www.benzinga.com/general/biotech/24/09/40820581/want-organic-cannabis-operators-are-turning-to-this-tech-to-save-millions-and-get-certified"> sterilize cannabis products</a> while preserving their natural properties. "Cannabis is heavily contaminated with yeast, mold, and pathogens like Aspergillus," Sanfilippo explained.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="685" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21191401/DSC06585-1024x685.jpg" alt="" class="wp-image-559846" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21191401/DSC06585-1024x685.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21191401/DSC06585-300x201.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21191401/DSC06585-768x513.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21191401/DSC06585.jpg 1300w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Courtesy of VIST </figcaption></figure>
He says that traditional methods, such as gamma <a href="https://www.benzinga.com/general/biotech/23/02/30699860/from-food-to-cannabis-buds-x-rays-are-transforming-supply-chains-an-expert-explains-how-and-why">radiation</a> or ozone, can damage cannabinoids and terpenes, leading to degraded quality.
How does it work?
<h3 class="wp-block-heading">Freeze Microbes! </h3>
VIST&#8217;s solution reduces oxygen levels to a point where oxidation and microbial growth are halted, without affecting the product's integrity​. The process begins by placing cannabis into a product cassette, holding 4-5 pounds. This cassette is loaded into the pasteurization machine &#8211; a refrigerator-sized unit &#8211; where the chamber is then prepared with cryogenic vapor.
In the next step, the vapor-induced sterilization chamber (VIST chamber) is activated. Inside this chamber, cryogenic vapor, which is created by boiling off liquid nitrogen at -320 degrees Fahrenheit, mixes with a medical-grade atmosphere.
Within 90 to 150 seconds, the vapor floods the chamber, bringing oxygen levels to extremely low concentrations (around 95% cryogenic vapor), which kills harmful microbial organisms like <a href="https://www.benzinga.com/markets/cannabis/24/07/39584632/mold-and-yeast-sixth-marijuana-recall-this-year-hits-colorado-cannabis-dispensaries">Aspergillus, E. coli, and Salmonella</a>.
After the sterilization, the product is quickly cools down using liquid nitrogen, preventing oxidation during the process. Finally, the cannabis is purified with a HEPA filtration system, removing any remaining airborne contaminants and ensuring stability as the product is packaged in aseptic, low-oxygen conditions​.
Read Also: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">A Modular Solution For Cannabis Business</h3>
VIST Labs' cryogenic pasteurization machines are designed to be modular, offering flexibility for mid-sized cultivators as well as large-scale operations. "We can run it in cassette mode at 25 pounds per hour, or upgrade to our high-output configuration, reaching up to 40 pounds per hour," Sanfilippo told Benzinga.
VIST Labs' cryogenic pasteurization system isn't just a machine, it's a<a href="https://www.benzinga.com/general/biotech/23/08/33579692/cannabis-robots-meet-the-company-boosting-efficiency-and-margins-through-packaging-automation"> fully integrated packaging solution</a>. After the sterilization process, the product is transferred into a bulk device that packs cannabis into different bag sizes, from one to ten-pound bags, or a pouch line for smaller quantities like an eighth-ounce. &#8220;We have the cooler, a pouch bagger, and other parts working together to maintain the product in a near-zero oxygen atmosphere," Sanfilippo explained.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="600" height="600" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21190952/AMAPS-Equipment.png" alt="" class="wp-image-559842" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21190952/AMAPS-Equipment.png 600w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21190952/AMAPS-Equipment-300x300.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21190952/AMAPS-Equipment-150x150.png 150w" sizes="(max-width: 600px) 100vw, 600px" /><figcaption class="wp-element-caption">Courtesy of VIST </figcaption></figure>
This scalability makes VIST's technology accessible to a wide range of businesses, whether they are aiming for compliance in medical markets or looking to protect their medical-grade level crop for export.
The company's aseptic packaging solutions meet European Pharmacopoeia standards, ensuring <a href="https://www.benzinga.com/markets/cannabis/24/06/39442869/2-9b-european-cannabis-market-a-strategic-blueprint-for-cross-border-transportation-logistics">compliance </a>in both domestic and international markets.
VIST's technology is also forward-thinking, preparing cannabis brands for potential federal legalization. With the increasing possibility of federal oversight, Sanfilippo notes that stricter regulations, especially around truth-in-labeling, will make compliance technologies like theirs essential for long-term success.
&#8220;With our system, we're offering crop-year protection and complete microbial control for up to a year," Sanfilippo said, noting that VIST expects to pack close to 150 million pounds of outdoor-grown cannabis in 2023 alone​.
<h3 class="wp-block-heading">Contamination And Mislabeling&#8230;Not A Problem</h3>
Beyond decontamination, VIST's system tackles a major issue in the cannabis industry: the degradation of THC potency over time. Inconsistent oxygen levels in packaging lead to mislabeled products, which can result in recalls and regulatory action.
&#8220;Within 45 to 50 days, THC levels can degrade by 10% or more, rendering the label claims false,&#8221; said Sanfilippo. VIST's modified atmosphere packaging (MAP) ensures stability for up to a year, keeping products compliant and safe.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/08/40298228/think-you-can-do-it-all-20-000-reasons-why-automation-outperforms-a-broad-approach-in-cannabis">Think You Can Do It All? 20,000 Reasons Why Automation Outperforms A Broad Approach In Cannabis</a>

Cannabis

Entrepreneurship

Management

Success Stories

Small Business

Exclusives

Interview

X-Rays, Microwaves And Now What? This Company Freezes Weed At -320°F To Kill Mold And Save A Ton

This week, the Federal Reserve's decision to reduce interest rates by 50 basis points boosted share prices across the technology, construction, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" rel="noreferrer noopener">industrial, machinery, and financial sectors</a>.
These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Edgewise Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) shares rocketed 50.19% after the company announced topline data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-<a href="https://www.benzinga.com//node/40940696" target="_blank" rel="noreferrer noopener">HCM trial in patients with obstructive HCM</a>.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) stock gained 28.36% after <a href="https://www.benzinga.com//node/40884021" target="_blank" rel="noreferrer noopener">reportedly considering a sale</a>.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) shares upped 27.06%. The company's subsidiary Bausch + Lomb Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) <a href="https://www.benzinga.com//node/40884021" target="_blank" rel="noreferrer noopener">is reportedly considering a sale</a>.</li>
<li>Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) stock gained 26.87% last week after the company announced <a href="https://www.benzinga.com//node/40882593" target="_blank" rel="noreferrer noopener">topline data from</a> its pivotal approach trial of a rare dwarfism candidate.</li>
<li>Nuvalent Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) stock gained 23.50% after the company <a href="https://www.benzinga.com//node/40865049" target="_blank" rel="noreferrer noopener">highlighted results for its ROS1 and ALK-Positive NSCLC programs</a> and accelerated its development timeline. The company also announced a $350 million public offering, and multiple firms raised their respective <a href="https://www.benzinga.com/quote/nuvl/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) stock gained 22.61% last week as stocks in the broader industrial space jumped following the Fed's announcement to cut rates by 50 basis points, which could support investment and economic growth.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) shares jumped 21.28%.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972008/constellation-energy-li-auto-and-carvana-are-among-top-11-large-cap-gainers-last-week-sept-16-sept" target="_blank" rel="noreferrer noopener">Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972060/novo-nordisk-chewy-and-fedex-are-among-top-10-large-cap-losers-last-week-sept-15-sept-21-are-the-o" target="_blank" rel="noreferrer noopener">Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?</a></li>
</ul>
Photo by JHVEPhoto via Shutterstock

Mid Cap

Movers

Trading Ideas

ASND

BLCO

EWTX

NUVL

POWL

Bausch & Lomb And Edgewise Therapeutics Are Among Top 7 Mid Cap Stock Gainers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) stock declined 23.61%. The company announced that data for the novel, potential first-in-class investigational bispecific antibody, ivonescimab, was presented <a href="https://www.benzinga.com//node/40873837" target="_blank" rel="noreferrer noopener">at the 2024 ESMO Annual Meeting</a>.</li>
<li>Joint Stock Company Kaspi.kz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>) stock tumbled 21.66% after Culper Research <a href="https://www.benzinga.com//node/40943334" target="_blank" rel="noreferrer noopener">issued a short report on the company</a>.</li>
<li>BioMarin Pharmaceutical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) stock lost 16.74% last week <a href="https://www.benzinga.com//node/40885653" target="_blank" rel="noreferrer noopener">following strong dwarfism drug data</a> from rival Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>).</li>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) lost 13.26% <a href="https://www.benzinga.com//node/40961732" target="_blank" rel="noreferrer noopener">last week</a>.</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) stock fell 11.08% after the company reported worse-than-expected Q1 financial results and <a href="https://www.benzinga.com//node/40948046" target="_blank" rel="noreferrer noopener">cut FY25 guidance</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) stock decreased 9.01%. Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and BioNTech received positive CHMP opinion for omicron KP.2-adapted <a href="https://www.benzinga.com//node/40956192" target="_blank" rel="noreferrer noopener">COVID-19 vaccine in the European Union</a>.</li>
<li>Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) stock fell 7.17%. Several analysts raised <a href="https://www.benzinga.com/quote/ajg/analyst-ratings" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares declined 6.97% after the company announced a selling stockholder&#8217;s public offering of shares <a href="https://www.benzinga.com//node/40949015" target="_blank" rel="noreferrer noopener">and a concurrent share repurchase</a>.</li>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) stock fell 6.93% after <a href="https://www.benzinga.com//node/40961934" target="_blank" rel="noreferrer noopener">headline results from the mid-stage study</a> of monlunabant in obese patients.</li>
<li>Murphy USA Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>) shares fell 6.90% after JP Morgan downgraded the stock from Neutral to Underweight but raised its <a href="https://www.benzinga.com/quote/musa/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $415 to $435</a>.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972008/constellation-energy-li-auto-and-carvana-are-among-top-11-large-cap-gainers-last-week-sept-16-sept" target="_blank" rel="noreferrer noopener">Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

Large Cap

BMRN

BNTX

CHWY

KSPI

MUSA

RIVN

SMMT

Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?

Many people in their 20s deal with credit card debt or student loans, sometimes thinking they'll figure it out later. But what happens when that debt piles up to nearly a million dollars? That's the reality a 29-year-old named Channing from Washington D.C. faced during an episode of <a href="https://www.benzinga.com/personal-finance/24/09/40838359/dave-ramsey-says-youre-wasting-5-000-a-year-if-you-spend-13-70-a-day-on-things-you-dont-need">The Dave Ramsey Show.</a>
Don't Miss:
<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>
Channing and her husband were grappling with nearly $1 million in debt, a number that had Ramsey quickly diving into tough-love mode. Sure, he's seen scenarios where people are in over their heads with debt, but at just 29, this was particularly alarming to Ramsey.&nbsp;
Channing, who recently married, explained, "My husband and I have probably just under a million dollars in debt and we want to know how to get debt-free without filing for bankruptcy." The breakdown included <a href="https://www.benzinga.com/personal-finance/24/08/40420920/we-have-the-highest-credit-card-debt-in-the-history-of-earth-says-grant-cardone-america-needs-to">$335,000 in student loans</a>, $136,000 in credit cards and $44,000 in personal loans. Their combined household income was about $230,000 a year.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Ramsey didn't hold back. After calculating the staggering numbers, he addressed the couple's situation bluntly. "You guys have been living at about 10x where you're going to get to live for the next three years," Ramsey said. "I'm getting ready to destroy your life as you know it."
"You've gotten used to spending like you&#8217;re in Congress," he scolded. He was clear that their lifestyle needed a complete overhaul. Ramsey emphasized that their financial habits would have to change drastically, stating, "You're not gonna see the inside of a restaurant unless it's your extra job or you're waiting on someone you work with during the day." He added, "You're gonna be living on beans and rice, rice and beans."
See Also: <a href="https://www.benzinga.com/money/charlie-munger-100k">Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</a>
Ramsey went on to stress the emotional and spiritual challenges ahead. "Your friends are going to think you've lost your mind and your mother is going to think you need counseling," he warned, adding that both Channing and her husband would need to stop caring what others think if they wanted to tackle their debt successfully.
He also shared a <a href="https://www.benzinga.com/personal-finance/24/03/37588475/dave-ramsey-shares-he-went-bankrupt-and-lost-everything-years-ago-while-empathizing-with-caller-">personal connection to their situation</a>, saying, "This is exactly what I did in my 20s. I bought and purchased a lifestyle that was 5x to 10x what I had. It was all because of crap inside of me that caused me to do that."
Trending: Elon Musk&#8217;s secret mansion in Austin revealed through court filings.<a href="https://www.benzinga.com/money/elon-musk-secret-mansion-austin-nada"> Here&#8217;s how to invest in the city&#8217;s growth before prices go back up.</a>
Ramsey's advice wasn't just about cutting expenses but about confronting the mindset that had led to their financial missteps. "The problem is what's going on inside you guys," Ramsey said. "You're on a suicide mission right now."
The tough conversation ended on a hopeful note, though. Ramsey assured Channing that while the journey would be difficult, it was possible. "You can do it, though," he said. "I know. I'll help you."
Channing and her husband are now facing a major lifestyle change to climb out of their nearly $1 million debt, with Dave Ramsey's guidance <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">pointing them toward a more financially stable future</a>. Sometimes debt happens, but at least they're taking steps to address the issue and make changes before they're left resorting to more extreme options such as bankruptcy.
Read Next:
<ul>
<li>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.</li>
<li>During market downturns, investors are learning that unlike equities, these<a href="https://www.benzinga.com/money/connect-invest-real-estate-notes"> high-yield real estate notes that pay 7.5% &#8211; 9% are protected by resilient assets, buffering against losses.</a></li>
</ul>

Personal Finance

Dave Ramsey Tells 29-Year-Old $1M In Debt And Spending Like She's In Congress: 'I'm Getting Ready To Destroy Your Life As You Know It'

Elon Musk, the billionaire who runs ventures such as Tesla, SpaceX and Neuralink, is a polarizing figure. The billionaire recently <a href="https://www.benzinga.com/news/24/09/40968413/elon-musk-reacts-after-cathie-wood-labels-gavin-newsoms-threat-to-sue-tesla-ceo-over-memes-unconstit">earned the wrath of California Gov. Gavin Newsom </a>over artificial intelligence political deepfake videos shared on X social-media platform but has received commendation from a congressman from the state.
Amazing Company: Rep. Kevin Kiley (R-Calif.) applauded Musk&#8217;s SpaceX for its Polaris Dawn mission in a speech at the House and also voiced concerns regarding the regulatory clampdown on the company, a video clip of the speech shared by an X platform user <a href="https://x.com/DimaZeniuk/status/1837599107327619318">showed.</a>
Polaris Dawn, a private crewed spaceflight&nbsp;operated by&nbsp;SpaceX&nbsp;on behalf of&nbsp;Shift4&nbsp;CEO&nbsp;Jared Isaacman, was launched on Sept. 10. Isaacman and his crew of three, namely Scott Poteet,&nbsp;Sarah Gillis&nbsp;and&nbsp;Anna Menon, flew in an&nbsp;elliptic orbit&nbsp;that took them 1,400 kilometers away from Earth, the farthest anyone has been since NASA&#8217;s&nbsp;Apollo program. The crew also performed the first commercial spacewalk. 
Talking about SpaceX, Kiley said it was started in California and that he had the opportunity to tour its facility a few years back. It truly is an amazing company and is vital to the U.S.&#8217; leadership when it pertains to space and is also vital to the national security, he said. He also noted that NASA is now relying on SpaceX to bring home <a href="https://www.benzinga.com/markets/equities/24/08/40541938/nasa-chooses-spacex-over-boeing-for-stranded-astronauts-return-starliners-future-in-doubt">two of its astronauts who are stranded at the International Space Station.</a>
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-spacex">How To Invest In SpaceX</a>
Government&#8217;s Vindictiveness: Despite SpaceX being a tremendous asset, the company is being targeted in multiple ways and for frivolous reasons, Kiley said. He noted that the Federal Aviation Administration recently fined $633,000 for trivial non-safety related reasons.
The federal agency has delayed flight five of Starship for two months, also for non-safety related reasons, he said, adding that roadblocks are being thrown in its way.
&#8220;We continue to be stuck in the reality where it takes longer to do the government paperwork to license a rocket launch than it does to design and build the actual hardware,&#8221; Kiley said. &#8220;There simply should not be delays related to paperwork or bureaucracy; The FAA and related agencies need to prioritize enabling launches and not standing in their way.&#8221;
Responding to the Congressman&#8217;s speech, Musk said it is &#8220;much appreciated.&#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">Much appreciated
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837704322622099748?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
 Why It&#8217;s Important: Musk has endorsed former President Donald Trump in the 2024 election, likely warded off by the Biden administration&#8217;s failure to acknowledge Tesla as the leader in green energy vehicle manufacturing, the Democratic party&#8217;s failure to control infiltration of undocumented immigrants and the party&#8217;s leftist agenda.
Recently, Newsom criticized Musk for sharing a deepfake video on Vice President Kamala Harris, who is the Democratic Party&#8217;s nominee, on X. The governor has now signed a law, banning the use of AI-generated deepfakes in political campaigns.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40951122/elon-musk-blasts-faa-for-targeting-spacex-over-petty-matters-while-ignoring-boeings-safety-issue">Elon Musk Blasts FAA For Targeting SpaceX Over &#8216;Petty Matters,&#8217; While Ignoring Boeing&#8217;s Safety Issues: This &#8216;Puts Human Lives At Risk&#8217;</a></li>
</ul>

Government

Elon Musk Responds As California Congressman Slams Bureaucratic Roadblocks For SpaceX Program: 'Agencies Need To Prioritize Enabling Launches And Not Standing In Their Way'

Billionaire investor Warren Buffett, <a href="https://www.benzinga.com/general/24/01/36763638/warren-buffett-accumulated-99-of-his-net-worth-after-turning-50-and-didnt-become-a-billionaire-until">who has tasted huge success in the investment world</a>, has a philosophical take on what defines success. His take on success and his success mantra are worth emulating to keep anyone on an even keel.
Buffet&#8217;s Take On True Success: If you get to be 65 years, or 70 years and later, and the people that you want to love you actually love you, you are a success, <a href="https://www.youtube.com/watch?v=Tr6MMsoWAog">said</a> Buffett in an interview with Yahoo Finance in 2019.
He also made the point that he has seen very, very wealthy people, so wealthy that they give testimonial interviews to, and name schools after, and everything, but they&#8217;re miserable. Nobody loves them, he added.
Buffett has often stressed that money doesn&#8217;t buy happiness and he lives out this philosophy by living a relatively modest lifestyle. In the Forbes billionaires list, he is in the sixth place, boasting of $143.7 billion in wealth. He is also known for his charity, having pledged 99% of his wealth to philanthropy&nbsp;during his lifetime or at death.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a>
How To Succeed In Life: When the investment guru was asked to give advice as to how to succeed in life, he said by far the best investment one can make is in oneself. Buffett said he used to advise students that if they learned to communicate better, both orally and written, they can increase their value at least by 50%.
One has to be able to get their ideas across, he said, adding that acquiring it is easy. He noted that he took a Dale Carnegie course for it.
&#8220;If you invest in yourself nobody can take it away from you I mean you and the second thing,&#8221; Buffett said.
Secondly he said one should take care of their mind and body. &#8220;You get exactly one mind and one body in this world. And you can&#8217;t start taking care of it when you&#8217;re 50,&#8221; he said.&nbsp;
A life advice he gave out was to associate with people that are better than you. &#8220;You will go in the direction of the people that you associate with and you want to have the right heroes,&#8221; he said, adding that if you want to emulate somebody better, you better pick very carefully whom you want to emulate.
Buffett said of the people who you admire, who you want to copy and the most important for most people is their spouse. &#8220;You&#8217;ll want to pick a spouse that&#8217;s a little better than you,&#8221; he said.
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Psychology

Warren Buffett's Definition Of Success Has Nothing To Do With Wealth But About These 2 Things: Here's Why Ultra-Rich Are Often Miserable

This week, the Federal Reserve&#8216;s decision to reduce interest rates by 50 basis points boosted share prices across the technology, construction, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" rel="noreferrer noopener">industrial, machinery, and financial sectors</a>.
These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) stock jumped 30.11% last week after <a href="https://www.benzinga.com//node/40957437" target="_blank" rel="noreferrer noopener">signing a 20-year power purchase agreement</a> with Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to help launch the Crance Clean Energy Center and restart Three Mile Island Unit 1.</li>
<li>Vistra Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) stock gained 26.10% last week after <a href="https://www.benzinga.com//node/40943063" target="_blank" rel="noreferrer noopener">the company executed definitive agreements</a> with affiliates of Nuveen Asset Management and Avenue Capital Management II to acquire their combined 15% equity interest in Vistra Vision.</li>
<li>Carvana Co.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares increased 22.52%. Evercore ISI raised its price forecast <a href="https://www.benzinga.com/quote/CVNA/analyst-ratings" target="_blank" rel="noreferrer noopener">on the stock from&nbsp;$142&nbsp;to&nbsp;$157</a>.</li>
<li>Symbotic Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) stock gained 19.06% last week as stocks in the broader industrial space jumped following the Fed&#8217;s announcement to cut rates by 50 basis points, which could support investment and economic growth.</li>
<li>Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) stock was up 17.32% in the last week.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) stock upped 16.38% as stocks in the broader industrial space jumped following the Fed&#8217;s announcement to cut rates by 50 basis points, which could support investment and economic growth. The company also announced it has repurchased up to 8.4 million of its shares.</li>
<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) gained 15.73% as stocks of oil and gas companies soared amid a rise in the price of oil after the Fed rate cut, which could lift the demand outlook.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) stock gained 15.71% as <a href="https://www.benzinga.com/quote/crwd/analyst-ratings" target="_blank" rel="noreferrer noopener">several analysts</a> maintained their buy forecasts and said the customer backlash following the software incident had largely passed.</li>
<li>Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) shares rose 13.92%</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) stock jumped 13.47%&nbsp;last week after Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) assured investors it would not drop its majority stake in the <a href="https://www.benzinga.com//node/40949356" target="_blank" rel="noreferrer noopener">Israeli autonomous driving company</a>.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) <a href="https://www.benzinga.com//node/40946478" target="_blank" rel="noreferrer noopener">stock rose 12.66%</a>. Stocks of several U.S.-listed Chinese companies gained ahead of expectations that the People&#8217;s Bank of China will cut rates.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972060/novo-nordisk-chewy-and-fedex-are-among-top-10-large-cap-losers-last-week-sept-15-sept-21-are-the-o" target="_blank" rel="noreferrer noopener">Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?</a></li>
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Photo by Ihor Bondarenko on Shutterstock

CART

CRWD

CVNA

DUOL

INTC

MBLY

MSFT

Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?

In a Saturday X exchange with venture capitalist Vinod Khosla, Elon Musk explained <a href="https://www.benzinga.com/news/24/08/40145805/elon-musk-says-his-endorsement-of-trump-doesnt-mean-he-agrees-with-everything-ex-president-is-saying">his reason for endorsing Donald Trump in the 2024 race</a>.
Pro- Biden In 2020: Unlike Trump and his team, Musk doesn&#8217;t think the 2020 election wasn&#8217;t stolen. Musk had a different explanation for the Democratic Party&#8217;s win. &#8220;All the independent voters I know, myself included, leaned towards [Joe] Biden, thinking he would be a milquetoast moderate. Boring, but moderate,&#8221; he said.
Incidentally, Khosla also identified himself as an independent. &#8220;Remember I am an independent, not a democrat or a republican. There are democrats, independents, republicans and then there are a&#x2A;&#x2A;hole MAGA extremists,&#8221; he had said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a>
What&#8217;s Has Changed: Explaining why he changed side this time around, Musk said Biden turned out to be a &#8220;radical leftist puppet of the machine who loves overreaching bureaucracy, just like Kamala [Harris].&#8221;
That&#8217;s why Musk and almost all independent voters he knew were supporting Trump this time, he said.
Taking a potshot at Khosla, Musk said, &#8220;Now, you stop being a damn hypocrite and have some empathy for small towns throughout America getting swamped by 10,000+ poorly vetted migrants. It's not right.&#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">No, I don't think 2020 was stolen, as all the independent voters I know, myself included, leaned towards Biden, thinking he would be a milquetoast moderate. Boring, but moderate. Unfortunately, he turned out to be a radical leftist puppet of the machine who loves overreaching…
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837634071289069730?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Replying to him, the Sun Microsystems co-founder said, &#8220;I have to agree that Biden&#8217;s treatment of Tesla as the EV leader was unfair so I understand your ire towards him.&#8221; It is a known secret that the Biden administration <a href="https://www.benzinga.com/government/23/12/36378996/elon-musks-yuletide-grudge-tesla-ceo-still-cross-with-biden-for-giving-cold-shoulder-2-years-ago">valued General Motors and Ford over Tesla</a> as flagbearers of the U.S. electric vehicle revolution. 
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Elon Musk Says Biden Belied His 2020 Expectations And Turned Out To Be A 'Radical Leftist Puppet': Why Billionaire Is Supporting Trump This Time Around

Pop music legend Janet Jackson has been subjected to intense backlash after she questioned the racial <a href="https://www.benzinga.com/news/24/09/40869733/trump-stumbles-again-over-health-care-issues-involving-abortion-and-obamacare">background of Vice President Kamala Harris</a>.
What Happened: The uproar originated from <a href="https://www.theguardian.com/music/2024/sep/21/janet-jackson-interview-on-bad-relationships-new-music-and-kamala-harris">an</a> interview Jackson gave to The Guardian last Saturday.
In the interview, Jackson, aged 58, expressed doubts about Harris&#8217; racial identity, saying, &#8220;She&#8217;s not Black. That&#8217;s what I heard. That she&#8217;s Indian&#8230; Her father&#8217;s white. That&#8217;s what I was told.&#8221;
These comments have incited a wave of outrage among fans and followers, who took to various social media platforms to voice their disappointment. One user criticized Jackson, stating, &#8220;This is why she&#8217;s irrelevant and leeching off of her brothers&#8217; success.&#8221;
Some critics have drawn comparisons between Jackson&#8217;s statements and those made by former President Donald Trump, who had also questioned Harris&#8217; racial identity during a conference of black journalists in July.
Jackson later issued a public apology for her comments about Harris.
According to a report <a href="https://deadline.com/2024/09/janet-jackson-apology-kamala-harris-comments-based-misinformation-1236096552/">by</a> Deadline, Mo Elmasri, Jackson&#8217;s manager, admitted that the singer had made misinformed comments about Harris&#8217; family and ethnicity during the interview.
Also Read: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
Jackson had made assumptions about Harris&#8217; racial background, seemingly without full understanding of the facts.
In a statement <a href="https://www.buzzfeed.com/chelseastewart/janet-jackson-kamala-harris-comments-apology">to</a> Buzzfeed, Elmasri said, &#8220;Janet deeply respects Vice President Kamala Harris and her accomplishments as a Black and Indian woman. Janet apologizes for any confusion caused and acknowledges the importance of accurate representation in public discourse.&#8221;
Harris&#8217; father is a Jamaican-American economics professor, and her late mother, Shyamala Gopalan, was a celebrated breast cancer researcher from southern India.
Why It Matters: This incident underscores the importance of accurate representation and information in public discourse, especially when discussing individuals in positions of power and influence. 
Misinformed comments can perpetuate harmful stereotypes and misinformation, leading to confusion and potential harm. As a public figure, Jackson&#8217;s comments have a wide reach, making it crucial for her to verify information before sharing it publicly. This apology serves as a reminder of the responsibility that comes with public platforms.
Furthermore, this incident highlights the ongoing challenges faced by individuals of diverse backgrounds in the public eye. Harris, as a Black and Indian woman, has faced scrutiny and misinformation about her background throughout her career. 
This incident serves as a reminder of the importance of respecting and acknowledging diverse backgrounds and experiences.
Read Next
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Wikimedia Commons

Entertainment

Janet Jackson Faces Backlash Over Kamala Harris Racial Identity Comments, Issues Apology For Misrepresenting Harris

Andreea Matei made several video reviews for Amazon.com, Inc. (NASDAQ: <a href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) products. It wasn&#8217;t long before the <a href="https://www.benzinga.com/news/23/07/33207129/he-quit-a-6-figure-finance-job-to-make-youtube-videos-now-hes-making-more-money-than-ever-before">money started pouring in</a>.
What To Know: Matei caught the bug for reviewing Amazon products as a side hustle when she first received $1.28 in commission based on one of her short videos. Since then, she has made close to $22,000 in eight months from approximately 1,000 videos.
<a href="https://www.benzinga.com/quote/AMZN">Amazon</a> has an influencer program that pays members a commission based on sales that take place after a consumer watches a video review. 
In November, Matei decided to give it a try and it wasn&#8217;t long before she was hooked.
&#8220;I made $40 a day, then $50 the next day, then $100. I had to keep going. It was so much fun,&#8221; Matei said.
Most of her videos are about a minute long and they take up to 20 minutes to film and edit. According to documents reviewed by <a href="https://www.cnbc.com/2023/06/29/andreea-matei-passive-side-hustle-amazon-video-reviews.html">CNBC</a>, she&#8217;s averaging about $2,700 a month in passive income from her review videos and she only spends about three hours a week filming and editing content.
&#8220;Once you create videos, it's totally passive.&nbsp;I have not had any time to make videos this week, and the money still keeps coming in,&#8221;&nbsp;Matei said.&nbsp;&nbsp;
See Also: <a href="https://www.benzinga.com/news/23/04/32100082/heres-how-this-31-year-old-makes-105-000-a-month-by-only-working-2-hours-a-day">Here&#8217;s How This 31-Year-Old Makes $105,000 A Month By Only Working 2 Hours A Day</a>
She started off reviewing products that she could see herself using around the house, but after she started <a href="https://www.benzinga.com/news/23/07/33289234/from-zero-to-5-5-million-in-3-years-how-this-first-time-investor-made-it-big-buying-real-estate">generating significant income</a>, Amazon sellers started reaching out to her. Now sellers send her free products and pay her to review them and post the videos on social media.
The payouts for different products vary greatly and Amazon is always changing how its algorithms work, but it&#8217;s well worth her time, she said, adding it keeps her from getting burned out at her day job where she teaches clients how to grow their small businesses.
&#8220;Amazon is fickle, so I don't want to put all my eggs in one basket. But my goal is to make it a six-figure side hustle on top of my regular business,&#8221; Matei said.
Photo: courtesy of Amazon.
This story is part of a new series of features on the subject of success, <a href="https://www.benzinga.com/topic/benzinga-inspire">Benzinga Inspire</a>. Some elements of this story were previously reported by Benzinga and it has been updated.
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AMZN

Amazon Product Review Side Hustle Brings In $2,700 A Month In Passive Income: 'I Have Not Had Any Time To Make Videos ... The Money Still Keeps Coming In'

Analysts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40872864/apple-staring-at-lower-than-expected-demand-for-iphone-16-pro-and-pro-max-in-the-fi">flashed a red flag regarding lukewarm preorders</a> for Apple, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) newest iPhone iteration, but one analyst doubled down on his bullish take on iPhone 16 as it went on sale this weekend.
The Apple Analyst: Wedbush analyst Daniel Ives maintained an Outperform rating and $300 price target for Apple shares.
The Apple Thesis: Apple is off to a strong demand start, Ives said, citing Asian supply checks. Although Apple Intelligence will be released in phases over the coming months, this iPhone 16 upgrade cycle will be over 90 million units on initial launch and be up roughly 8 million to 10 million units from iPhone 15, he said. The demand has been tracking well so far, with an estimated 300 million iPhones of the 1.5 billion iPhones not upgrading in four years, he added. 
Apple is focused on driving a robust December holiday season for iPhone 16 with many features rolled out over the coming months, Ives said. He estimates that the company can sell more than 240 million iPhone units in fiscal year 2025.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
The analyst sees China as the front and center, as he expects more partnerships on for large-language models around Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) over the coming months. &#8220;That will fill in a missing piece of the AI puzzle in the key China market as OpenAI in its marquee partnership will launch the most sophisticated personal assistant for consumers with ChatGPT fueled by Apple&#8217;s new A18 chip,&#8221; he said.
The analyst conceded Huawei trifold smartphone could be another disruptive force in the Chinese smartphone market. But Apple with its iPhone 16 upgrades could sell about 50 million units in this region is fiscal year 2025, he said.
The next step to drive installed base in the Apple Intelligence, Ives said. &#8220;We believe over 20% of world&#8217;s consumer population will ultimately interact with AI through an Apple device over the coming years,&#8221; he said.
&#8220;This is the beginning of an AI driven iPhone super-cycle that should enable Apple to break its historical mark for iPhone units in a year and translate into a $4 trillion market cap for Cupertino in 2025,&#8221; the analyst said. 
Apple Stock: Apple ended Friday&#8217;s session down 0.29% at $228.20, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data</a>. The stock has, nevertheless, added about 19% so far this year.
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Analyst Ratings

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As Apple's iPhone 16 Goes On Sale, Analyst Says Demand Off To Strong Start Keeping Cupertino On Track To Hit $4T Market Cap

<a href="https://www.wsj.com/tech/ai/chip-giants-tsmc-and-samsung-discuss-building-middle-eastern-megafactories-65adc854" title="https://www.wsj.com/tech/ai/chip-giants-tsmc-and-samsung-discuss-building-middle-eastern-megafactories-65adc854">https://www.wsj.com/tech/ai/chip-giants-tsmc-and-samsung-discuss-building-middle-eastern-megafactories-65adc854</a>

SSNLF

The Wall Street Journal Reported Sunday, Taiwan Semiconductor, Samsung Discussed Building Middle Eastern Megafactories

Kamala Harris has a surprisingly narrow edge over Donald Trump in Virginia, which has been a stronghold for the Democrats in the <a href="https://www.benzinga.com/news/24/09/40866884/trump-vs-harris-tense-standoff-in-nail-biter-polls">past several presidential elections</a>.
What Happened: A <a href="https://www.umw.edu/news/2024/09/20/new-survey-from-umw-center-for-leadership-and-media-studies-takes-closer-look-at-presidential-election-in-virginia/">poll</a> carried out by the University of Mary Washington from September 3-9 shows Harris leading Trump by a slim margin of 1 point among 756 likely voters in Virginia, with Harris polling at 47% and Trump at 46% with minor party candidates included. When pitted directly against each other, Harris&#8217; lead extends to 2 points. Her lead is within the poll&#8217;s margin of error of +/- 4.1 percent.
Stephen J. Farnsworth, a political science professor at the University of Mary Washington, suggested that the tight race implies that Virginia could be considered a potential &#8216;swing state&#8217; in the forthcoming election.
&#8220;This new survey suggests Virginia should be getting a much closer look from both presidential campaigns. Virginia may deserve to be treated as a &#8216;swing state&#8217; once again this year,&#8221; Farnsworth <a href="https://www.newsweek.com/kamala-harris-donald-trump-polling-virginia-polling-1957297">told </a>the outlet Newsweek.
Also Read: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
Despite Harris&#8217; narrow lead in this poll, other state polls suggest that Harris could potentially outperform Trump by a solid 7 to 10-point margin, continuing the trend of Democratic victories in the state since 2004.
Prior to Harris becoming the candidate, some polls had shown Trump leading Biden by up to 5 points, while others showed Biden with a marginal lead of just 1 or 2 points.
Why It Matters: The close race in Virginia, a traditionally Democratic state, indicates a potential shift in the political landscape. 
The fact that Harris, a Democrat, is only slightly ahead of Trump, a Republican, suggests that the state&#8217;s voters may be becoming more divided in their political preferences. 
This could potentially turn Virginia into a &#8216;swing state&#8217;, where either party has a reasonable chance of winning, in future elections. This shift could have significant implications for the strategies of both parties in upcoming elections.
Read Next
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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.

Close Call In Virginia: Recent Poll Shows Harris Barely Leading Trump In Democratic-Leaning State

Chechen warlord Ramzan Kadyrov has leveled accusations against Tesla owner Elon Musk, claiming that his Cybertruck was remotely <a href="https://www.benzinga.com/news/24/08/40504595/military-expert-calls-russian-president-allys-tesla-cybertruck-super-cool-but-useless-combat-vehicle">disabled by Musk</a>.
What Happened: Kadyrov, who has been ruling Chechnya since 2007, alleged that his modified Cybertruck was &#8220;remotely disabled&#8221; by Musk. 
The Chechen leader expressed his indignation in a Telegram post, criticizing Musk&#8217;s actions as unmanly. Earlier in August, Kadyrov had shared a video flaunting the Cybertruck, fitted with what appeared to be a machine gun. 
He hinted that the vehicle, which he asserted was a gift from Musk, would be deployed in the war against Ukraine.
&#8220;Elon Musk behaved badly. He gives expensive gifts from the heart, and then turns them off remotely,&#8221; Kadyrov wrote Thursday in a <a href="https://t.me/RKadyrov_95/5103">post</a> on Telegram.
Then he added in the post saying, &#8220;That&#8217;s not manly. How could you do that, Elon?&#8221; He also mentioned that he had to tow the vehicle after Tesla shut it down. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37195508/putin-pal-elon-musk-fires-back-at-critics-accusing-him-of-supporting-russia" target="_blank" rel="noreferrer noopener">Putin Pal? Elon Musk Fires Back At Critics Accusing Him Of Supporting Russia</a>
Earlier in August, <a href="https://www.benzinga.com/news/24/08/40432032/putin-ally-unveils-tesla-cybertruck-with-machine-gun-invites-musk-to-russia">he announced that the vehicle was presented to him by Musk</a>. &#8220;We received a Tesla Cybertruck from the esteemed Elon Musk. I was pleased to test this new technology and personally witnessed why it's rightfully called the ‘Cyberbeast,&#8221; he said in a statement. 
However, Musk categorically denied having gifted the Cybertruck to Kadyrov. The process through which the warlord procured the vehicle remains a mystery, as direct export of a Cybertruck from the US to Chechnya is barred due to US sanctions.
Despite Kadyrov&#8217;s assertions of the Cybertruck&#8217;s efficacy in combat, experts have voiced skepticism. Mark Cancian, a senior advisor with the International Security Program at the Center for Strategic and International Studies, opined that the vehicle would be &#8220;totally useless&#8221; on the battlefield owing to its weight and charging needs.
Why It Matters: The allegations made by Kadyrov against Musk are significant as they involve a high-profile figure and a globally recognized brand. 
The incident also raises questions about the security and remote control capabilities of Tesla&#8217;s vehicles. 
Furthermore, it brings to light the potential misuse of such vehicles in conflict zones, which could have serious implications for international security and Tesla&#8217;s reputation.
Read Next
<a href="https://www.benzinga.com/news/24/08/40429944/elon-musks-controversial-civil-war-prophecy-is-europe-on-the-edge" target="_blank" rel="noreferrer noopener">Elon Musk's Controversial Civil War Prophecy: Is Europe On The Edge?</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.

TSLA

Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Last Month Now Says Elon Musk 'Remotely Disabled' The Militarized EV

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The world of special purpose acquisition corporation (SPAC) mergers is about to heat up in a big way. Digital World Acquisition Corp. (NASDAQ:<a href="https://investorplace.com/stock-quotes/dwac-stock-quote/">DWAC</a>) is now set to officially merge with Trump Media &amp; Technology Group (TMTG) after a <a href="https://www.cnbc.com/2024/03/25/truth-social-owner-trump-media-will-begin-trading-under-djt-ticker-tuesday.html">regulatory filing</a> showed the merger had the necessary votes to proceed. Shares of DWAC stock surged more than 30% in early afternoon trading on this news. 



Shares of TMTG, the parent company of former president Trump&rsquo;s Truth Social platform, will begin trading tomorrow under the ticker &ldquo;DJT&rdquo; on the Nasdaq Exchange. A recent filing shows that the merger has been officially completed. Today&rsquo;s move is allowing the stock to make up previous losses following Friday&rsquo;s news that the merger had been approved.



Let&rsquo;s dive into what investors may want to make of this announcement today.



<h2>DWAC Stock: Trump Could Get a Big Boost From This Merger</h2>



A significant amount of attention has been paid to the <a href="https://www.bbc.com/news/world-us-canada-61084161">legal troubles</a> that have followed the former president since leaving office nearly four years ago. However, he could stand to reap a major windfall if this merger goes through at its current valuation. His 58% stake in the company could be worth more than $3 billion if tomorrow&rsquo;s launch goes as expected.



Now, Trump will have his shares locked up for a period of six months. This may make cashing out shares difficult (but <a href="https://www.npr.org/2024/03/22/1240116446/trump-truth-social-dwac-stock-listing-legal-troubles">not potentially impossible</a>) to do. This will have many investors watching closely to see how or when he chooses to unload his position and what percentage of the company he will retain.



Truth Social has been touted as a <a href="https://www.cnbc.com/2024/03/25/truth-social-owner-trump-media-will-begin-trading-under-djt-ticker-tuesday.html">platform</a> looking to &ldquo;reclaim the Internet from Big Tech censors,&rdquo; though previous stumbles have some investors concerned as to the underlying fundamentals of this business model long-term. 



I have no idea which way this stock will trend over the course of the coming trading days or weeks. However, I am fairly certain we will see significant volatility with this launch. Thus, I&rsquo;ll be watching this merger happily from the sidelines, but it should make for an interesting week, to be sure.



On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/03/dear-dwac-stock-fans-truth-social-will-start-trading-tomorrow-as-djt-stock/">Dear DWAC Stock Fans, Truth Social Will Start Trading Tomorrow as DJT Stock</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Dear DWAC Stock Fans, Truth Social Will Start Trading Tomorrow as DJT Stock

The day has come, the Digital World Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWAC#NASDAQ">DWAC</a>) has successfully merged with Trump Media, and investors are over the moon. Suffi...

Digital World Acquisition Corp (NASDAQ:DWAC) Blasts Up on Merger Success

DWAC Soars As Trump Media Deal Closes

Looking at the charts, after Friday's selloff and failure of the 50-daily moving average, today the price handily cleared back over it.

DWAC Begins Trading Under DJT

While monetary conditions are hardly as loose right now, it is nonetheless apparent that we have been in a market that has been driven by momentum.

Meme Stocks: The Sequel

It was the first official day of trading for Truth Social, now trading on the NASDAQ exchange under the ticker symbol DJT. And if the trading for T...

Truth Social (NASDAQ:DJT) Goes Live, Share Prices Soar

The first day out for DJT was a smashing success, although I'd quietly point out that when DWAC was trading back in October 2021, it was substantially higher. All the same, this has been a very powerful stock for months.

Make Tickers Great Again

Despite being the most heavily shorted SPAC in the U.S., Trump Media & Technology Group, behind the Truth Social platform, has seen its stock surge.

Trump Media & Technology Group Faces $168.6 M In Short Interest, Refuses To Back Down

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Former president Donald Trump&rsquo;s social media platform Truth Social (NASDAQ:<a href="https://investorplace.com/stock-quotes/djt-stock-quote/">DJT</a>) gained significant attention last week. However, other <a href="https://www.forbes.com/sites/dereksaul/2024/03/26/not-just-trump-media-these-social-media-stocks-are-also-red-hot/">social </a><a href="https://investorplace.com/industries/communications/media/">media stocks</a> saw price increases, too. There is debate whether the broader rise in <a href="https://investorplace.com/industries/communications/media/social-media/">social media stocks</a> boosted Truth Social or if the focus on the new microblogging site drove greater interest. Recently listed Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>) also experienced gains and has continued moving higher with peers. The increased focus raises a logical question &mdash; whether an investment opportunity exists within social media stocks. Truth Social and Reddit may experience more volatile performance as newcomers before releasing initial earnings reports. In the interim, several social media stocks that have been publicly traded for longer could offer opportunities. Ongoing legislative considerations regarding a potential ban on TikTok are adding complexity to the social media landscape. U.S. regulators have requested it divest from its parent company, ByteDance. Extensive speculation surrounds possible outcomes: which social media company may <a href="https://www.reuters.com/technology/us-house-vote-force-bytedance-divest-tiktok-or-face-ban-2024-03-13/">benefit from users</a> should the app be prohibited, who would acquire TikTok, and whether it would be another <a href="https://edition.cnn.com/2024/03/14/tech/buyer-tiktok-for-sale-bytedance/index.html">industry competitor if divested</a>.&#8203;



<h2>Meta Platforms (META)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-300x169.png" alt="In this photo illustration the Meta logo seen displayed on a smartphone and in the background the Facebook logo"><div>Source: rafapress / Shutterstock.com</div></div>Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>) is the first pick in the social media stocks shuffle. It is the largest publicly traded social media company, with a market capitalization exceeding $1 trillion. News outlets have recently highlighted the company as one of the so-called &ldquo;Magnificent Seven&rdquo; stocks and for its advancements in artificial intelligence (<a href="https://investorplace.com/stock-quotes/ai-stock-quote/">AI</a>). <a href="https://www.ey.com/en_us/metaverse/navigating-beyond-the-hype-the-metaverse-take-two">Growing interest in the metaverse</a> provides additional context for the company&rsquo;s long-term prospects.



Meta also owns Instagram, which is TikTok&rsquo;s direct competitor. It will likely benefit the most if the Chinese-owned video-sharing app is excluded from the United States market. TikTok generated an estimated<a href="https://www.reuters.com/technology/tiktoks-us-revenue-hits-16-bln-washington-threatens-ban-ft-reports-2024-03-15/"> $16 billion in revenue</a> in the U.S. last year. A ban on TikTok could divert billions in revenues towards META. Even if a ban does not occur, ongoing developments surrounding TikTok could enable META to increase its market share.&#8203;



<h2>Pinterest (PINS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pins-1600-2-300x169.png" alt="Hand holding Apple Iphone6 gold color with Pinterest app on the screen. In the background, a laptop is open to Pinterest. PINS stock."><div>Source: photobyphotoboy / Shutterstock</div></div>Pinterest (NYSE:<a href="https://investorplace.com/stock-quotes/pins-stock-quote/">PINS</a>), the image-sharing and social media platform, saw its stock price increase last week. However, shares remain in negative territory year to date (YTD). Last year, Pinterest<a href="https://investor.pinterestinc.com/press-releases/press-releases-details/2024/Pinterest-Announces-Fourth-Quarter-and-Full-Year-2023-Results-Delivers-Record-High-Users-and-Robust-Margin-Expansion/default.aspx"> increased its user base by 11%</a>. Additionally, the company substantially reduced losses through cost-reduction initiatives. Its average revenue per user (ARPU), a key performance indicator, rose 1.2%, demonstrating its ability to maintain monetization.



Analysts believe the company is well-positioned to strengthen its financial performance. Consensus price target for the second pick in the social media stocks sits at an average of $43.15. This represents a potential <a href="https://finance.yahoo.com/quote/PINS?.tsrc=fin-srch">upside of nearly 30%</a> from current levels. With $2.5 billion in cash reserves, Pinterest has strong liquidity to continue executing its strategic priorities. The market expects the social media platform to return to profitability by the close of the current year.



<h2>Rumble (RUM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/rum1600-2-300x169.png" alt="In this photo illustration, a woman holds a smartphone with the Rumble logo displayed on the screen. RUM stock"><div>Source: rafapress / Shutterstock.com</div></div>Rumble (NASDAQ:<a href="https://investorplace.com/stock-quotes/rum-stock-quote/">RUM</a>), a video hosting company seeking to compete with Alphabet&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) YouTube platform, has often been overlooked within the sector. However, the social media stock price <a href="https://s3.amazonaws.com/b2icontent.irpass.cc/2730/rl132667.pdf">has trended higher</a> throughout 2024, even as losses widened due to rising hosting costs and content investment to attract viewers. Investors appeared reassured by Rumble&rsquo;s $218.3 million cash position despite $29 million in negative profits.



Rumble is one of those social media stocks that have climbed already higher. It follows <a href="https://www.fool.com/investing/2024/03/30/why-rumble-stock-is-up-big-this-week/">explosive gains</a> in DJT after its special-purpose acquisition company (SPAC) merger with Digital World Acquisition (NASDAQ:<a href="https://investorplace.com/stock-quotes/dwac-stock-quote/">DWAC</a>) and subsequent Nasdaq listing. Additionally, the company gained notable attention from reports that it may have participated in <a href="https://www.investopedia.com/steve-mnuchin-is-among-buyers-interested-in-tiktok-can-it-be-sold-8609010">acquiring TikTok</a>. While not the sole bidder, it could share benefits from involvement in a consortium to assume management of TikTok.



On the date of publication, Stavros Tousios 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>Stavros Tousios, MBA, is the founder and chief analyst at Markets Untold. With expertise in FX, macros, equity analysis, and investment advisory, Stavros delivers investors strategic guidance and valuable insights.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/three-stocks-to-watch-in-truth-socials-wake/">The Social Media Shuffle: 3 Stocks to Watch in Truth Social&#8217;s Wake</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Social Media Shuffle: 3 Stocks to Watch in Truth Social's Wake

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In this article, we delve into the world of <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> and explore the insights provided by cutting-edge AI algorithms. These advanced systems have analyzed market trends, and company fundamentals, to identify seven meme stocks to sell according to AI.



As we examine each of these seven meme stocks, we will discuss the factors that led the AI to its conclusions, providing a look at the potential risks and drawbacks associated with these investments.&nbsp;



It should be noted that these conclusions should be taken with a large pinch of salt, as the direction of meme stocks are often influenced by investor psychology that AI can&rsquo;t fully contextualize or process fully.



Still, it might be worth looking into these meme stocks to sell according to AI to get an objective perspective that&rsquo;s not influenced by the emotions of greed and fear. For this article, I&rsquo;ve used both the newest models of ChatGPT and Claude to find and process analysis of these meme stocks. So here are seven meme stocks to sell according to AI.



<h2>AMC Entertainment (AMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/amc1600-8-300x169.png" alt="Person holding cellphone with website of US company AMC Entertainment Holdings Inc. on screen in front of logo. AMC stock"><div>Source: T. Schneider / Shutterstock.com</div></div>AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) was identified as one of those meme stocks to sell. ChatGPT said: &ldquo;AMC has struggled significantly post-pandemic, with a dramatic decrease in share value due to declining theater attendance and significant debt. Despite attempts to revitalize with new movie releases, the company continues to face financial challenges and high shareholder dilution.&rdquo;



ChatGPT also stated that: &ldquo;AMC is consistently unprofitable, carrying a significant amount of debt, which has raised concerns about its long-term viability. The company has been described as &ldquo;<a href="https://www.benzinga.com/markets/equities/24/05/38876672/amc-entertainment-a-dead-company-walking-says-bear-cave-report">a dead company walking</a>&rdquo; due to its heavy debt load and ongoing financial losses. Despite efforts to raise capital through stock sales, the dilution of shares has negatively impacted shareholder value. AMC&rsquo;s shares outstanding have increased dramatically from 12 million in January 2020 to over 250 million today&#8203;.&rdquo;



This could be a valid point since the brand&rsquo;s shares outstanding have swelled over 91% year-over-year, and it is also struggling with liquidity issues thanks to its&nbsp;$8.99 billion in debt.



<h2>Carvana (CVNA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/shutterstock_1496985935-min-300x169.jpg" alt="Carvana (CVNA stock) logo on white object in foreground as well as a high-rise building in the background"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Carvana (NYSE:<a href="https://investorplace.com/stock-quotes/cvna-stock-quote/">CVNA</a>) was another meme stock that AI thinks that investors should sell. It said: &ldquo;Carvana experienced a massive short squeeze in 2023 but remains heavily shorted due to concerns about its high valuation and leveraged balance sheet. The online used car retailer&rsquo;s fundamentals do not support its current stock price, making it a risky investment.&rdquo;



It also noted that: &ldquo;Despite recent improvements, Carvana is <a href="https://investorplace.com/market360/2023/08/carvana-stock-analysis-is-it-time-to-hit-the-brakes-or-hang-tight/">still projected to experience net losses</a> in 2024 and 2025. This ongoing financial strain raises questions about the company&rsquo;s ability to achieve profitability. The sell-side forecasts do not support a near-term turnaround, adding credence to the bearish outlook.&rdquo;



Like with AMC, CVNA&rsquo;s shares outstanding also grew at what I consider an unsustainably fast rate, climbing over 100% year-over-year at the time of writing. This somewhat blunts its share price rally over the same period of 135.38%, which is a grave warning sign.



<h2>Digital World Acquisition (DWAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/dwac1600-300x169.png" alt="In this photo illustration, the Truth Social logo seen displayed on a smartphone with a photo of former US President Donald Trump displayed in the background. DJT stock"><div>Source: rafapress / Shutterstock.com</div></div>Digital World Acquisition (NASDAQ:<a href="https://investorplace.com/stock-quotes/dwac-stock-quote/">DWAC</a>) is the next on the chopping block, according to AI. It said: &ldquo;DWAC, the SPAC aiming to merge with Trump Media &amp; Technology Group, has seen stock volatility linked to political events. However, the stock faces challenges with regulatory delays and uncertain business prospects, making it vulnerable to significant declines&rdquo;



&ldquo;There are <a href="https://investorplace.com/2024/01/the-big-short-of-2024-7-meme-stocks-to-bet-against/">considerable uncertainties</a> about TMTG&rsquo;s business prospects. Despite the speculative interest driven by Trump&rsquo;s media presence, the actual performance and profitability of TMTG&rsquo;s platforms like Truth Social remain questionable. Investors are concerned about the platform&rsquo;s ability to compete with established social media giants and generate sustainable revenue,&rdquo; Claude continued.



DWAC could be the ultimate vehicle for betting for (or against) Donald Trump&rsquo;s presidency, and I envision that it will note record volatility in the weeks and months leading up to the election.



Its value then is tied to an event not explicitly tied to its main operating segments, which gives it a more speculative layer that other meme stocks lack, without a proportionate upside.



<h2>Hut 8 (HUT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/hut1600-300x169.png" alt="In this photo illustration the Hut 8 Mining logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Hut 8 (NASDAQ:<a href="https://investorplace.com/stock-quotes/hut-stock-quote/">HUT</a>) is a Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) mining company that has found itself on AI&rsquo;s radar as one of those meme stocks to sell. It said &ldquo;Hut 8, a Bitcoin mining company, has faced scrutiny and allegations from short-sellers. With the recent decline in cryptocurrency prices and ongoing controversies, Hut 8&rsquo;s stock faces substantial downside risks.&rdquo;



&ldquo;Hut 8 recently <a href="https://investorplace.com/earning-results/2024/05/hut-stock-earnings-hut-8-mining-for-q1-of-2024/">reported disappointing financial results</a> for the first quarter of 2024, missing both earnings per share (<a href="https://investorplace.com/stock-quotes/eps-stock-quote/">EPS</a>) and revenue estimates. The company posted an EPS of -17 cents, significantly below analyst expectations of 59 cents, and reported revenue of $51.74 million, which was 20.48% lower than the projected $65.07 million&#8203;&#8203;. This poor financial performance highlights ongoing challenges in achieving profitability.&rdquo;



Despite these short-term weaknesses, my view is that the Bitcoin miners that will still be around in a decade from now will be those who can <a href="https://blockworks.co/news/hut-8-mining-ceo-strategy">leverage scale effectively</a> to reduce costs. Smaller miners like HUT are focusing on improving efficiency, which puts it at odds with this thesis.



As Bitcoin&rsquo;s block rewards continue to halve, and input costs rise, miners are making a large bet that Bitcoin will continue to appreciate in value in order for their efforts to be worth it, along with increased efficiency of their mining rigs. Smaller firms may not be able to comfortably shoulder these risks as the <a href="https://crypto.ro/en/news/mining-centralization-poses-risks-to-bitcoin-yet-optimism-remains/#:~:text=Now%2C%20Bitcoin%20mining%20pools%20have,hashing%20power%20back%20in%20February.">centralization of the hash rate</a> continues.



<h2>Virgin Galactic (SPCE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/spce-1600-300x169.jpg" alt="spce stock"><div>Source: rafapress / Shutterstock.com</div></div>Some players in the space industry are also not to AI&rsquo;s liking, with Virgin Galactic (NYSE:<a href="https://investorplace.com/stock-quotes/spce-stock-quote/">SPCE</a>) being noted as one of those meme stocks to sell.



&ldquo;Virgin Galactic&rsquo;s commercial space flights have generated minimal revenue, and the company is rapidly burning through its cash reserves. With <a href="https://investors.virgingalactic.com/news/news-details/2024/Virgin-Galactic-Announces-First-Quarter-2024-Financial-Results-and-Provides-Business-Update/default.aspx">low revenue generation</a> and high cash burn, the company may run out of funds, posing a high risk for investors.&rdquo;



It also notes that &ldquo;In a strategic shift, Virgin Galactic <a href="https://spacenews.com/virgin-galactic-to-halt-unity-suborbital-flights-by-mid-2024/">plans to halt flights</a> of its current suborbital vehicle, VSS Unity, by mid-2024 to focus resources on developing its next-generation Delta-class vehicles. This decision will reduce the frequency of flights, further limiting revenue in the short term. The company aims to redirect resources to ensure the Delta-class vehicles are operational by 2026, but this pivot involves substantial execution risk&rdquo;.



SPCE has taken a hit ever since its main insider, Richard Branson, said he would <a href="https://www.fool.com/investing/2023/12/23/no-more-cash-from-richard-branson-is-this-the-end/#:~:text=Virgin%20Galactic%20founder%20Richard%20Branson,is%20set%20for%20January%202024.">no longer invest money into the company</a>, stating that it &ldquo;should have sufficient funds to do its job on its own,&rdquo; citing its $1 billion balance sheet at the time he made that statement.



This may be seen as a prudent risk management strategy or a cause for alarm, but in either case it may reinforce the bear case to sell it as a meme stock.



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/12/muln1600-4-300x169.png" alt="Mullen Automotive offers superior, technologically advanced electric vehicles. Their premium quality EVs pioneer a sustainable, eco-friendly future. MULN stock"><div>Source: MacroEcon / Shutterstock.com</div></div>Mullen Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/">MULN</a>) is one of those contentious meme stocks and AI has caught wind of this. It said &ldquo;Mullen Automotive <a href="https://markets.businessinsider.com/news/stocks/mullen-reports-q2-2024-fiscal-quarter-results-1033378277">reported significant losses</a> and low revenue from its electric vehicle sales. The company&rsquo;s financials are weak, with substantial cash burn and limited orders, making it a risky investment in the highly competitive EV market&rdquo;.



&ldquo;Recent partnerships and joint ventures announced by Mullen, such as with Global EV Technology and EV Technologies, <a href="https://investorplace.com/market360/2023/04/the-bear-case-for-muln-stock/">have not significantly improved investor confidence</a>. The lack of detailed financial information regarding these ventures adds to the uncertainty about their potential positive impact on Mullen&rsquo;s business&rdquo;. Something that AI missed is that MULN&rsquo;s <a href="https://ycharts.com/companies/MULN/shares_outstanding">shares outstanding increased 7,358.46%</a> year-over-year, which would have diluted the ownership of existing investors to almost nothing. Recovering from that loss would require an astronomical return.



If this share dilution continues, there may be no point in investing in MULN, despite the promises of high capital gains.



<h2>Plug Power (PLUG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/plug1600-8-300x169.png" alt="Person holding cellphone with logo of US hydrogen fuel cell company Plug Power Inc. in front of business webpage. Focus on phone display. Unmodified photo. PLUG stock"><div>Source: T. Schneider / Shutterstock.com</div></div>Plug Power (NASDAQ:<a href="https://investorplace.com/stock-quotes/plug-stock-quote/">PLUG</a>), another contentious pick, is the last meme stock that AI has identified outright as a company to sell.



&ldquo;Plug Power, involved in hydrogen energy, has seen fluctuating stock prices due to market downturns and <a href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Announces-First-Quarter-2024-Financial-Results/default.aspx">weak financial results</a>. Concerns about its ability to finance future projects and continued shareholder dilution pose risks to its stock value.&rdquo;



&ldquo;Despite having cash and cash equivalents totaling $172.9 million, Plug Power&rsquo;s ongoing operations and investments result in significant cash outflows. This high cash burn rate necessitates continuous capital raising, which could dilute shareholder value&#8203;&rdquo;.



PLUG is certainly a polarizing name in the hydrogen industry. It has recently shook off fears that it will ot remain a going concern, but its high rate of cash burn remains an issue in a speculative industry.



The meme stock is more risky than many of the names listed here, as it is flirting with bankruptcy more closely, and thus should be invested in only by those with an extreme risk tolerance. 



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/rejected-by-robots-ai-thinks-you-should-sell-these-7-meme-stocks-now/">Rejected by Robots: AI Thinks You Should Sell These 7 Meme Stocks Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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