e-Therapeutics Stock (OTC:ETXPF), Trade Ideas

e-Therapeutics PLC is a drug discovery company. Its ambition is to transform the drug discovery process, leveraging its computational network biology platform (drug discovery) to find novel targets to address mechanisms underpinning complex disease. l company activities are carried out in the UK.

E-THERAPEUTICS PLC ORD by E-Therapeutics PLC

e-Therapeutics PLC

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
Bears ruled Wall Street this week as the S&amp;P 500 endured its worst weekly drop since March 2023, falling over 3% due to rising fears around inflation and monetary policy. The Nasdaq Composite also suffered, dropping 5.5%, its worst week since November 2022 and its fourth consecutive down week, making it the longest losing streak since December 2022.
Meanwhile, Federal Reserve Chair Jerome Powell dismissed any <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">immediate interest rate cuts</a>, citing slow disinflation, while escalating geopolitical risks further dampened the outlook for tech stocks. Despite these challenges, the Dow managed a marginal gain of 0.01%, marking its first positive week in the last three.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/markets/cannabis/24/04/38297096/canopy-growth-ceo-at-benzinga-conference-i-dont-think-our-investors-understand-the-value-that-si">&#8220;Canopy Growth CEO At Benzinga Conference: &#8216;I Don&#8217;t Think Our Investors Understand The Value That Sits Inside Of Canopy'&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports on CEO David Klein&#8216;s statement at the Benzinga Cannabis Capital Conference, asserting that Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) is undervalued by investors, especially regarding its acquisitions like Wana and its new strategic direction under Canopy USA.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38255536/dogecoin-down-25-in-past-week-but-if-you-get-a-chance-to-buy-it-in-the-high-0-10s-buy-it-s">&#8220;Dogecoin Down 25% In Past Week, But &#8216;If You Get A Chance To Buy It In The High $0.10s, Buy It,&#8217; Says Trader&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, explores how, despite Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) 25% plunge, market influencers remain bullish, advocating for purchases during dips as they predict potential price recoveries and a strong altcoin market ahead.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38273179/draftkings-stock-has-upside-to-street-estimates-analyst-says-sports-betting-play-wi">&#8220;DraftKings Stock Has Upside To Street Estimates, Analyst Says: Sports Betting Play Will &#8216;Benefit From Healthy Growth'&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>,&nbsp;describes a Goldman Sachs analyst&#8217;s optimistic outlook on DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), projecting strong revenue growth and improved profitability due to expanding markets and enhanced unit economics.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38320141/rivian-best-positioned-ev-oem-analyst-praises-long-term-outlook-r2-launch-with-shor">Rivian &#8216;Best Positioned EV OEM&#8217;: Analyst Praises Long-Term Outlook, R2 Launch, With Short-Term Caution</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38314733/teslas-autonomous-driving-efforts-win-praise-from-goldman-sachs-wall-street-firm-pr">Tesla&#8217;s Autonomous Driving Efforts Win Praise From Goldman Sachs: Wall Street Firm Projects Long-Term Growth From Robotaxi Services</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38341469/happy-bitcoin-halving-day-what-experts-predict-happens-next">Happy Bitcoin Halving Day: What Experts Predict Happens Next</a>
The Bears
<a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and">&#8220;No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned &#8216;Complex And Inefficient'&#8221;</a> by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, explains Elon Musk&#8216;s decision to discontinue Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) inventory discounts due to inefficiencies and complexities in the sales process.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38295633/real-estate-stocks-fall-as-mortgage-rates-rise-to-4-month-highs-inflation-is-provin">&#8220;Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: &#8216;Inflation Is Proving Tougher To Bring Down'&#8221;</a> by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, describes the drop in real estate stocks like Prologis, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) and EastGroup Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>), driven by rising mortgage rates and a pessimistic outlook for housing starts and affordability.
<a href="https://www.benzinga.com/government/24/04/38254776/broadcom-succumbs-to-eu-antitrust-investigation-over-vmware-licensing-prompting-swift-pricing-strate">&#8220;Broadcom Succumbs to EU Antitrust Investigation Over VMware Licensing, Prompting Swift Pricing Strategy Revision&#8221;</a> by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports that Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) is adjusting VMware&#8217;s pricing in response to an EU antitrust investigation spurred by complaints about unfair licensing practices.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38303079/most-s-p-500-stocks-no-longer-trade-above-50-day-average-healthy-pullback-or-is-the">Most S&amp;P 500 Stocks No Longer Trade Above 50-Day Average: Healthy Pullback Or Is The Bull Market Over?</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38319509/treasury-yields-head-to-danger-zone-analyst-forecasts-potential-spike-to-5-disorder">Treasury Yields Head To &#8216;Danger Zone&#8217;: Analyst Forecasts Potential Spike To 5%, Disorderly Sell-Off For Markets</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38265256/peter-schiff-challenges-bitcoins-100k-prediction-as-crypto-linked-stocks-languish-i">Peter Schiff Challenges Bitcoin&#8217;s $100K Prediction As Crypto-Linked Stocks Languish In Bear Zone: &#8216;Sell Your Fool&#8217;s Gold And Buy The Real Thing&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Tesla, DraftKings, Broadcom And Trader Says Buy Dogecoin In High 10 Cents If You Get A Chance

Most electric vehicle stocks <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">retreated along with the broader market</a> in the week that ended on April 19, with company-specific developments also weighing down on stocks. It was a week to forget for Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), as the stock settled at the lowest level since January 2023.
Here are the key events that happened in the EV space during the week:
Tesla Job Cuts, Estimate Re-Ratings And More: Tesla opted to right-size operations amid its fundamental travails. An email from CEO Elon Musk shared by media said the company let go 10% of its global workforce, amounting to about 14,000 employees. Musk justified the move by stating on X, &#8220;Every half decade or so, Tesla has to undergo a complete organizational overhaul to reach the next level.&#8221;
Notable among the eliminations were SVP of Powertrain and Energy Engineering Andrew Baglino and Vice President of Public Policy and Business Development Rohan Patel. An Information report said, with the eliminations, Musk has now a tight grip over the company, with at least 35 key personnel reporting directly to him. An organizational behavior professor at Stanford said this is &#8220;a recipe for CEO overload and being a bottleneck.&#8221;
The week also saw several sell-side analysts bringing down their price targets and estimates, just ahead of the first-quarter earnings date. Their main worry is that the company may confirm rumors that it has shifted focus away from producing sub-$30K electric vehicles to concentrate on refining full self-driving technology and robotaxi services.
To make matters worse, late Friday, <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n">the company announced $2,000 price reductions for all trims of its Model S,X and Y EVs.</a> The electric vehicle manufacturer has continued its price-cutting strategy, though it hasn&#8217;t significantly boosted sales volume.
Musk also confirmed that he won&#8217;t be visiting India early next week, citing &#8220;very heavy Tesla obligations.&#8221; &#8220;But I do very much look forward to visiting later this year,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Rivian Announces More Job Cuts: Close on the heels of Tesla&#8217;s job cuts, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) reportedly <a href="https://www.benzinga.com/news/24/04/38307316/after-teslas-cost-cutting-rivian-trims-workforce-again-this-year-amid-profitability-push">cut 1% of its workforce amid the industry-wide slowdown. </a>While Rivian's previous cut in February impacted product teams and those working on the company's commercial EVs, the latest round of workforce slashing will most likely impact its support and back-office workers, Bloomberg reported.
This week, Needham analyst Chris Pierce also lowered the price target for Rivian&#8217;s shares from $18 to $13, while maintaining a &#8220;Buy&#8221; rating. The reduction in the price target was to account for a tough EV demand environment even as the firm is optimistic about the long-term fundamentals for the company.
Canoo Initiated At Buy: Benchmark initiated coverage on Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) with a &#8220;Buy&#8221; rating and a price target of $5 per share. Analysts at the firm premised their bullish recommendation on the company&#8217;s successful management overhaul and its targeted approach to the commercial fleet market. 
Lucid Showcases 2024 Air Grand Touring: Premium EV maker Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) announced this week details about the 2024 Lucid Air Grand Touring, including an array of enhancements. The company said the vehicle has an EPA-estimated range of 516 miles, the longest range of any EV in the U.S. market currently. The 2024 Lucid Air Grand Touring has a starting price of $109,900.
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>.
Fisker Announces New Dealer Partnership: Beleaguered EV startup Fisker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSR#NYSE">FSR</a>), which is teetering on the brink of bankruptcy, said it signed Fisker Miami as a dealer partner, its second in Florida after Fisker Jacksonville. The company announced a strategic shift to the &#8220;Dealer-Partnership&#8221; model in January 2024. Fisker also said it signed dealer partners in Hilleord, Denmark, and Innsbruck, Austria, bringing its European total to 12 dealer partners. 
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session down 1.96% at $21.04, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF fell 2.46%.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38332930/management-expert-warns-elon-musk-faces-ceo-overload-after-tesla-layoffs-reportedly-leave-him-ov">Management Expert Warns Elon Musk Faces &#8216;CEO Overload&#8217; After Tesla Layoffs Reportedly Leave Him Overseeing 35 Key Personnel</a>
EV Stock Performances For Week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Performances (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-14.03%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>-7.54%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>-7.11%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-10.24%</td>
</tr>
<tr>
<td>Fisker</td>
<td>+92.67%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+17.28%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>-7.39%</td>
</tr>
<tr>
<td>Canoo</td>
<td>+18.75%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-5.48%</td>
</tr>
<tr>
<td>Lucid Group</td>
<td>-1.61%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>)</td>
<td>-26.23%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-8.01%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-30.00%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

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Tesla's Horror Week Ends With Another Price Cut, Rivian's Second Round Of Layoffs, Lucid Touts Longest-Range Domestic EV And More: Biggest EV Stories Of The Week

Leading cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has had an eventful 2024 year with the approval of <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36514679/wall-street-enters-the-crypto-age-sec-issues-historic-approval-of-spot-bitcoin-etfs">Bitcoin ETFs in January.</a>
Another exciting catalyst for Bitcoin is the latest Bitcoin halving, which happened last night.
Here&#8217;s a look at what this means and how investors have profited.
What Happened: A Bitcoin halving <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38341469/happy-bitcoin-halving-day-what-experts-predict-happens-next">occurs every 210,000 blocks</a>, which happens roughly every four years. The block rewards get halved as soon as the 210,000th block is mined.
A Bitcoin halving is a method put in place for the cryptocurrency to help enforce synthetic price inflation until all Bitcoin has been mined and released. Theoretically, the Bitcoin halvings that occur should make it more expensive to create new Bitcoins and make the cryptocurrency more valuable.
Bitcoin operates differently from fiat currencies like the U.S. dollar in this respect. While fiat currencies typically lose purchasing power over time, Bitcoin tends to increase in value rather than depreciate.
The first Bitcoin halving happened on Nov. 28, 2012, with the block reward reduced from 50 Bitcoin to 25 Bitcoin.
The second Bitcoin halving happened on July 9, 2016, with the block reward reduced from 25 Bitcoin to 12.5 Bitcoin. &nbsp;
The third Bitcoin halving happened on May 11, 2020, with the block reward reduced from 12.5 Bitcoin to 6.25 Bitcoin.
A Bitcoin halving can make the cryptocurrency increasingly volatile but often leads to surges in the price. Bitcoin went from $12 to $1,217 in one year after the first halving.
Here&#8217;s a look back at how much the cryptocurrency was up prior to last night&#8217;s halving.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37498047/exclusive-bitcoin-hits-new-all-time-high-heres-when-benzinga-readers-think-100k-milestone-">EXCLUSIVE: Bitcoin Hits New All-Time High: Here&#8217;s When Benzinga Readers Think $100K Milestone Could Be Reached</a>
Investing $1,000 in Bitcoin: Before last night, the last halving date for Bitcoin was on May 11, 2020. Bitcoin traded between $8,374.32 and $9,033.47 that day.
A $1,000 investment could have purchased 0.1107 BTC based on the highest price on that date.
The $1,000 investment would be worth $7,077.75 today, based on a price of $63,936.35 for Bitcoin at the time of writing. This represents a gain of 607.8% since the Bitcoin halving three-and-a-half years ago.
For comparison, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 stock market index, is up 169.3% over the same time period, based on a closing price of $292.50 on May 11, 2020.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37925264/heres-how-much-100-in-bitcoin-could-be-worth-in-2030-if-cathie-woods-new-price-target-is-r">Here&#8217;s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood&#8217;s New Price Target Is Reached</a>
This article was previously published by Benzinga and has been updated.
Photo: Shutterstock

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If You Invested $1,000 In Bitcoin During The May 2020 Bitcoin Halving, Here's How Much You'd Have Now

Willie Nelson, Snoop Dogg and Martha Stewart are teaming up once again in partnership with Bic to promote its EZ Reach lighter and to celebrate this year's 4/20 cannabis holiday.
Launching precisely at 4:20 pm on 4/20, the event, titled the &#8220;Slow Burn Sessions,&#8221; will feature the trio for 4 hours and 20 minutes of exclusive content on <a href="https://www.youtube.com/@bicbrand">Bic&#8217;s YouTube channel</a> all weekend, giving viewers a chance to unwind with three mood-setting segments, with each representing each celeb and with its own flare. 
"Think along the lines of the holiday yule log you put on during that time of year, but for 4/20 and with Martha, Willie and Snoop," <a href="https://www.whiskeyriff.com/2024/04/17/willie-nelson-snoop-dogg-and-martha-stewart-hosting-slow-burn-sessions-to-celebrate-4-20/">according to</a> Whiskey Riff.
Each of the three sessions includes footage of Snoop, Stewart and Nelson showing their favorite ways to light up. Spoiler alert: Snoop lights his favorite bowl of candles, Stewart heats up her fondue pot and Willie sparks his favorite herb-scented candle.
"It's been so fun to partner with my good friends at Bic to spread some holiday cheer ahead of 420. The Bic EZ Reach lighter is my tried-and-true pot accessory — fondue pot that is," Martha Stewart said a statement shared with The Drum.
It's like a smoke sesh that never ends, noted The Drum, "or at least until the munchies kick in."
Willie said it will obviously be a very chill time. "Spend your holiday weekend with me and my friends while we host our own Slow Burn Session with BIC this 420. It'll be a very chill time."
Take a little peek here on YouTube.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Get Lit with Snoop Dogg" width="500" height="281" src="https://www.youtube.com/embed/QK-nRezdttI?start=14&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h2 class="wp-block-heading">Why Bic?</h2>
Jeany Mui, the marketing director for Bic Flame for Life, called it an honor to have this iconic trio back together again for 4/20.
"Slow Burn Sessions are the ultimate way to kick back and relax with friends on 420 weekend and we're excited to bring together our favorite lighter-loving trio as the hosts,&#8221; Mui said. &#8220;EZ Reach Lighters are the go-to accessory for everyone gathering to celebrate the 420 holiday."
The legendary trio are no strangers to Bic's 420-friendly marketing campaigns. In honor of 4/20 in 2023, the lighter and pen manufacturer <a href="https://www.thedrum.com/news/2023/04/20/us-ad-the-day-snoop-willie-nelson-martha-stewart-light-up-america-420-bic">released a star-studded campaign</a> called "Bic Lights up America."
Photo courtesy of Bic

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Snoop Dogg, Willie Nelson And Martha Stewart Light Up On 4/20 With Bic's 'Slow Burn Sessions' — Here's How To Join Them

Chinese state-sponsored hackers are orchestrating advanced attacks that could &#8220;wreak havoc&#8221; on <a href="https://www.benzinga.com/topic/infrastructure">critical U.S. infrastructure</a>, Federal Bureau of Investigations (FBI) director Christopher Wray said. 
&#8220;Everything from water-treatment facilities and energy grids to transportation and information technology — form the backbone of our society,&#8221; he <a href="https://www.fbi.gov/news/speeches/director-wrays-remarks-at-the-vanderbilt-summit-on-modern-conflict-and-emerging-threats">told</a> attendees at Thursday&#8217;s Summit on Modern Conflict in Nashville. 
What happens if those things are attacked? Wray warned that such a scenario could occur at any time. 
&#8220;China is positioning its enormous hacking enterprise — remember, 50 to 1 — for more than &#8216;just&#8217; the outrageous theft campaign,&#8221; he added. &#8220;It's using that mass, those numbers, to give itself the ability to physically wreak havoc on our critical infrastructure at a time of its choosing.&#8221;
Wray called on private companies to bring &#8220;vigilance to the table&#8221; and play &#8220;a central defensive role to generate vital information about what adversaries are doing — or preparing to do — against us.&#8221;
<h3 class="wp-block-heading">3 OT Startups To Watch </h3>
According to Wedbush analyst Taz Koujalgi, Wray&#8217;s comments &#8220;are not alarmist at all.&#8221; They underscore the growing importance of OT (operational technology) specialists. 
Three firms come to mind:
<ul>
<li>Dragos Inc. is &#8220;one of the leading pioneers in the OT sector,&#8221; Koujalgi told Benzinga. The Hanover, Maryland-based company has, so far, collected about $440 million in venture capital. </li>
<li>New York-based Claroty, which has raised over $635 million in funding to date, <a href="https://claroty.com/press-releases/claroty-secures-usd100-million-in-strategic-growth-financing">secured</a> another $100 million in backing last month. </li>
<li>And San Francisco-based Nozomi Networks also <a href="https://www.nozominetworks.com/press-release/nozomi-networks-secures-100-million-investment-to-accelerate-critical-infrastructure-defense">clinched</a> $100 million in new funding last month, totaling more than $260 million.</li>
</ul>
Most &#8220;security spend&#8221; happens today in the traditional IT infrastructure space, Koujalgi said. &#8220;But real infrastructure — your pipelines, electrical grids and water treatment plants — is fairly behind in investment and security spend.&#8221; 
And sourcing capital in the OT sub-sector is especially tough considering venture support is <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/global-venture-capital-investment-value-volume-down-in-q1-2024-81180407">down</a> across the board.
Another challenge: These types of infrastructure attacks are &#8220;fairly new&#8221; and &#8220;fast-moving.&#8221;
New software is being written every day, and code from five years ago is in danger of being obsolete as bad actors routinely find holes in that software, Koujalgi explained.
Basically, &#8220;it&#8217;s hard to keep pace with the bad guys.&#8221; 
See Also: <a href="https://www.benzinga.com/news/24/04/38307336/russian-online-influence-resurgence-poses-threat-to-us-election-star-blizzard-hacking-activity-escal">Russian Online Influence Resurgence Poses Threat To US Election — Star Blizzard Hacking Activity Escalates, Warns Microsoft</a>
<h3 class="wp-block-heading">Who Are The Bad Guys? </h3>
Recall how, in 2023, security analysts at Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Western intelligence agencies uncovered how a state-sponsored Chinese hacking group known as &#8220;Volt Typhoon&#8221; was spying on <a href="https://www.benzinga.com/government/23/05/32573948/microsoft-blames-chinese-hackers-for-spying-on-critical-american-infrastructure-and-guam">various U.S.&nbsp;critical infrastructure organizations.</a>
China and the U.S. routinely spy on each other. But analysts say this incident was one of the most extensive Chinese cyber-espionage campaigns against American critical infrastructure. 
China <a href="https://www.scmp.com/video/china/3256907/china-denies-accusations-state-sponsored-hacking-us-uk-and-new-zealand" target="_blank" rel="noreferrer noopener">dismissed</a> cyberattack allegations in March as &#8220;pure political maneuvering.&#8221; 
Lin Jian of the Chinese Foreign Ministry urged the U.S. to end &#8220;their own <a href="https://www.benzinga.com/government/22/09/28959768/china-claims-us-took-control-of-telecom-network-post-space-research-university-hack">cyber aggression against China</a>.&nbsp;"
But, as Wray told it, Volt Typhoon has &#8220;persistent PRC access &#8230; They were hiding inside our networks, using tactics known as &#8216;living-off-the-land&#8217; — essentially, exploiting built-in tools that already exist on victim networks to get their sinister job done, tools that network defenders expect to see in use and so don't raise suspicions — while they also operated botnets to further conceal their malicious activity and the fact that it was coming from China. All this, with the goal of giving the Chinese government the ability to wait for just the right moment to deal a devastating blow.&#8221;
And it&#8217;s not just China. There was also a group of hackers called DarkSide that, in 2021, was blamed for the cyberattack on Colonial Pipeline, which led <a href="https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg">to a complete shutdown</a>.
That same year, a cyberattack on the heavily guarded Natanz plant in Iran took place. The disruption reportedly set back Tehran&#8217;s nuclear program by nine months. Neither the U.S. nor Israel acknowledged involvement in what was believed to be a sabotage campaign.
ETFs To Consider: Here are five cybersecurity exchange-traded funds (ETFs) to note:
<ul>
<li>Amplify ETF Trust Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>)</li>
<li>First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) </li>
<li>iShares Cybersecurity and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>)</li>
<li>WisdomTree Cybersecurity Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WCBR#NASDAQ">WCBR</a>)</li>
<li>Global X Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>)</li>
</ul>
Now Read: <a href="https://www.benzinga.com/news/24/04/38214476/russian-government-linked-hackers-stole-federal-email-correspondence-with-microsoft-cisa">Russian Government-Linked Hackers Stole Federal Email Correspondence With Microsoft &#8211; CISA</a>
Image: Pixabay

Asia

Global

CIBR

HACK

IHAK

MSFT

WCBR

Chinese Hackers May Control Your Water And Are Laying in Wait, FBI Warns — 3 Startups To Watch

Weekends are perfect for diving into the world of television and catching up on some great shows. Whether you&#8217;re into suspense, drama, or some light-hearted comedy, the streaming world is bringing a delightful mix to your screens this weekend.
Here's a curated list of top shows you can start watching now. Get your popcorn ready!
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38203940/remember-crystal-pepsi-here-are-10-weird-flavors-of-the-coca-cola-rival-from-around-the-wor">Remember Crystal Pepsi? Here are 10 Weird Flavors Of Coke Rival From Around The World</a>
<h4 class="wp-block-heading">Rebel Moon: Part Two – The Scargiver – Netflix</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111354/Rebel-Moon-Part-Two-%E2%80%93-The-Scargiver-1024x576.jpg" alt="" class="wp-image-300274" /><figcaption class="wp-element-caption">Rebel Moon: Part Two – The Scargiver &#x7C; Source: Netflix</figcaption></figure>
Brace yourselves, sci-fi fans! Zack Snyder&#8216;s epic saga, Rebel Moon, returns with Part Two: The Scargiver, available now after December&#8217;s Part One: A Child of Fire. Kora (Sofia Boutella) and the surviving rebels rise again, ready to face the tyrannical Motherworld and protect their adopted home.
Djimon Hounsou, Ed Skrein, and a star-studded cast reunite for this action-packed conclusion.
<h4 class="wp-block-heading">Fallout (Season 1) – Prime Video</h4>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-1024x576.jpg" alt="" class="wp-image-300276" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Fallout (Season 1) &#x7C; Source: Prime Video</figcaption></figure>
Wasteland warriors, assemble! The iconic Fallout franchise blasts onto your screens this week on Prime Video. Encounter familiar faces from the games, including the legendary Dogmeat! Vault dwellers, ghouls, and the Brotherhood of Steel all come to life in this epic tale of survival in a post-nuclear world.
Starring Walton Goggins, Aaron Moten, and Ella Purnell, don&#8217;t miss Fallout&#8217;s explosive premiere!
<h4 class="wp-block-heading">Feud: Capote Vs. The Swans – Disney+</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111444/Feud-Capote-Vs.-The-Swans-%E2%80%93-Disney-1024x576.jpg" alt="" class="wp-image-300277" /><figcaption class="wp-element-caption">Feud: Capote Vs. The Swans &#x7C; Source: Disney+</figcaption></figure>
Glitter and betrayal collide in Feud&#8217;s glamorous second season, now streaming on Hulu. Dive into the opulent world of 1950s and 60s New York socialites. When Truman Capote (Tom Hollander), a writer with a taste for gossip, exposes their secrets in a tell-all novel, these powerful women plot their revenge.
Get ready for a high-stakes battle of wits and social sabotage, featuring a cast of Hollywood royalty including Naomi Watts, Chloë Sevigny, Diane Lane, Demi Moore, and Molly Ringwald.
<h4 class="wp-block-heading">Under The Bridge – Hulu</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111502/Under-The-Bridge-%E2%80%93-Hulu-1024x576.jpg" alt="" class="wp-image-300278" /><figcaption class="wp-element-caption">Under The Bridge &#x7C; Source: Hulu</figcaption></figure>
Inspired by a shocking true crime, &#8220;Under the Bridge&#8221; hits Hulu on April 17. Based on Rebecca Godfrey&#8216;s book of the same name, the series follows Detective (played by Lily Gladstone) and writer Rebecca Godfrey (played by Riley Keough) as they investigate the disappearance of 14-year-old Reena Virk (played by Vritika Gupta) after a party. A dark secret emerges, with teenage girls at the center of the horrifying crime.
<h4 class="wp-block-heading">Franklin – Apple TV+</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111540/Franklin-%E2%80%93-Apple-TV-1024x576.jpg" alt="" class="wp-image-300281" /><figcaption class="wp-element-caption">Franklin &#x7C; Source: Apple TV+</figcaption></figure>
Academy Award winner Michael Douglas brings Benjamin Franklin to life in &#8220;Franklin,&#8221; a gripping new limited series on Apple TV+. Premiering on April 12th, the series follows Franklin&#8217;s high-stakes mission to France during the American Revolution. Can he convince the French to become allies, securing America&#8217;s future?
Danger lurks around every corner as Franklin, joined by his grandson (Noah Jupe), navigates the treacherous world of international politics. Don&#8217;t miss this thrilling tale of diplomacy and daring.
<h4 class="wp-block-heading">Men – Max</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111559/Men-%E2%80%93-Max-1024x576.jpg" alt="" class="wp-image-300282" /><figcaption class="wp-element-caption">Men &#x7C; Source: Max</figcaption></figure>
Fresh off Alex Garland&#8217;s mind-bending &#8220;Civil War,&#8221; horror fans on Max can revisit his unsettling masterpiece, &#8220;Men.&#8221; Jessie Buckley is captivating as Harper, a widow seeking solace in the idyllic English countryside. However, her peace shatters when she encounters a series of menacing villagers, all portrayed with chilling intensity by the chameleon-like Rory Kinnear.
Read Next: <a href="https://www.benzinga.com/news/24/04/38184282/peek-inside-trumps-opulent-lifestyle-the-10-most-lavish-assets-he-owns">Peek Inside Trump&#8217;s Opulent Lifestyle: The 10 Most Lavish Assets He Owns</a>
Disclaimer:&nbsp;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.
Image generated using Dall-E

General

Get Your Popcorn Ready: 6 Fresh Releases To Stream This Weekend On Netflix, Hulu And Disney+

Mark Zuckerberg and Nvidia Corp.'s Jensen Huang's bromance is the latest in Silicon Valley. Now, the Meta Platforms Inc. CEO has revealed the &#8220;secret ingredient&#8221; behind his close relationship with the <a href="https://www.benzinga.com/markets/equities/24/02/37258324/godfather-of-gpu-nvidias-jensen-huang-says-ai-factories-will-one-day-take-over-the-world">"Godfather of GPU."</a>
What Happened: Zuckerberg recently disclosed the key to his friendship with Huang, which revolves around a shared love for cheesesteaks. The two tech leaders, who are both at the helm of trillion-dollar companies, often bond over food.
&#8220;Jensen is really into cooking, so he invited me over to his house.&#8221;
&#8220;When we went over to his place, he was like, &#8216;Let&#8217;s make cheesesteaks,&#8217; and I&#8217;m like, &#8216;hell yeah, let&#8217;s make cheesesteaks&#8217;.&#8221;
Zuckerberg shared this insight during a podcast with internet personality Roberto Nickson.
He mentioned that Huang, who is also an avid cook, once invited him over to make cheesesteaks. The two also discuss their experiences running their respective companies.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Despite their different net worths, Zuckerberg and Huang have a lot in common.
Zuckerberg, with a net worth of $178 billion, recently surpassed Elon Musk to become the world&#8217;s third-richest person. On the other hand, Huang, with a net worth of $74.6 billion, has built Nvidia into a $2.1 trillion company, surpassing Meta&#8217;s $1.3 trillion valuation.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Zuckerberg and Huang&#8217;s friendship has been a topic of interest in the tech world.
Zuckerberg further solidified their friendship by <a href="https://www.benzinga.com/news/24/03/37974918/mark-zuckerberg-dons-nvidia-ceo-jensen-huangs-iconic-leather-jacket-in-viral-photo-calls-him-taylor">swapping jackets with Huang,</a> a move that he likened to a Taylor Swift-esque gesture. He also wrote a <a href="https://time.com/6964235/jensen-huang-2024/">profile</a> of Huang for Time Magazine, praising his leadership and vision.
Huang, who has been recognized for his visionary leadership, was praised by Zuckerberg for his determination and innovation in the tech industry.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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</div>
</figure>
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: <a href="https://www.benzinga.com/news/24/04/38217420/elon-musk-cant-hold-back-laughter-as-jack-dorsey-calls-mark-zuckerberg-a-b-simp-over-decade-old-snid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Can&#8217;t Hold Back Laughter As Jack Dorsey Calls Mark Zuckerberg A &#8216;B&#x2A;&#x2A; Simp&#8217; Over Decade-Old Snide Remark About Twitter</a>
Disclaimer:&nbsp;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.
Photos courtesy: Shutterstock and Flickr

Mark Zuckerberg Spills The Beans On His Bromance With Nvidia's Jensen Huang: 'Hell Yeah, Let's Make Cheesesteaks'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Saturday hinted at the imminent launch of the company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/04/38216186/glad-tesla-fsd-was-there-to-help-elon-musk-reacts-to-customers-crazy-story-of-how-driver-assista">Full Self-Driving (FSD) feature in China.</a>
What Happened: A Tesla owner in China expressed his anticipation for the FSD feature to be available in the country. He also inquired about the timeline for the HW3.0 system&#8217;s use of 3D modeling images and the release of new reversing assistance for Tesla HW3.0 owners in China. 
&#8220;It may be possible very soon,&#8221; Musk responded on X, formerly known as Twitter.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It may be possible very soon
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781558948144820578?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: This development comes on the heels of Tesla&#8217;s decision to <a href="https://www.benzinga.com/news/24/04/38230953/elon-musks-tesla-slashes-price-of-full-self-driving-package-by-half-now-99month">slash the price</a> of its FSD package by half, making it more accessible to a wider customer base. Musk had earlier stated that the FSD price would only increase as the system&#8217;s features and capabilities expanded, but the recent move contradicts this assertion.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284745/teslas-cybertruck-outpaces-porsche-taycan-in-q1-despite-lagging-behind-fords-f-150-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Cybertruck Outpaces Porsche Taycan In Q1 Despite Lagging Behind Ford&#8217;s F-150 Lightning, Rivian R1T</a>
In March, Musk had announced that the FSD software would be <a href="https://www.benzinga.com/news/24/03/37812316/tesla-fsd-should-be-really-shining-bright-by-late-april-or-early-may-says-ceo-elon-musk">&#8220;really shining bright&#8221; </a>by late April or early May, with the company rolling out three significant improvements every two weeks to rapidly scale its abilities. The FSD software is designed to enable autonomous driving but is still in &#8216;beta&#8217; and requires active driver supervision, contrary to its name.
Additionally, Tesla recently restarted its offer to allow for <a href="https://www.benzinga.com/news/24/04/38104901/tesla-fsd-transfer-no-longer-one-time-amnesty-as-ev-giant-reportedly-restarts-offer-again-for-these">transferring its FSD software</a> to new vehicle purchases, after initially allowing it as a &#8220;one-time amnesty&#8221; in 2023. This move was in response to requests from several Tesla owners who wanted to transfer the FSD software from their old Teslas to their new ones.
Price Action: On Friday, Tesla&#8217;s stock closed at $147.05, marking a 1.92% decrease from the previous day&#8217;s close, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Fundamentally Unfair:&#8217; Tesla Board Chair Urges Shareholders To Vote Again On Elon Musk&#8217;s Voided Pay Package</a>
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.
Image via Shutterstock

Markets

Elon Musk Reacts As Chinese Tesla Owner Says 'I Look Forward To Tesla FSD Entering China': 'Possible Very Soon'

Former Windows head Steven Sinofsky slammed Sen. Elizabeth Warren (D-Mass.) for claiming Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has a <a href="https://www.benzinga.com/general/politics/24/04/38343376/elizabeth-warren-attacks-apple-smartphone-monopoly-green-texts-on-iphones-theyre-ruining-relatio">"smartphone monopoly."</a>
What Happened: Sinofsky took to X, formerly Twitter, on Friday to voice his concerns about Warren's criticism of Apple.
Sinofsky's issue with Warren's comment is that Apple's iPhone market share – both in the U.S. and globally – falls short of meeting the requirements for being considered a monopoly.
See Also: <a href="https://www.benzinga.com/news/24/04/38334831/think-trading-in-your-iphone-helps-keep-planet-green-turns-out-there-are-plenty-of-dirty-secrets-rep">Think Trading In Your iPhone Helps Keep Planet Green? Turns Out There Are Plenty Of Dirty Secrets, Report Reveals</a>
"You know what is &#8216;just not right&#8217;? This needs a community note or 12. Also, good grief," he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This needs a community note or 12. Also, good grief. You know what is "just not right"? This &#x1f447; <a href="https://t.co/hDZoQgNh5q">https://t.co/hDZoQgNh5q</a>
&mdash; Steven Sinofsky (@stevesi) <a href="https://twitter.com/stevesi/status/1781181954131718564?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
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He was reacting to Warren, who said, "It's time to break up Apple's smartphone monopoly."
She also brought the focus on the <a href="https://www.benzinga.com/news/23/09/34818276/get-the-message-google-roasts-apple-with-new-mocking-ipager-add-to-end-green-vs-blue-text-bubbles-wa">green versus blue bubble debate</a>, saying, "Also, c'mon, let's stop leaving green text people out of the group chats. It's just not right."
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: Sinofsky&#8217;s post comes at a time when Apple is facing increased scrutiny from lawmakers and regulators. The company&#8217;s dominance in the smartphone market has been a subject of debate, with some calling for antitrust action.
According to a recent report, Apple <a href="https://www.benzinga.com/24/02/36893988/iphone-15-helps-apple-grab-64-us-market-share-in-q4-android-declines-report">held a 64% market share</a> in the U.S. at the end of the December 2023 quarter. It got a boost thanks to the <a href="https://www.benzinga.com/topic/iphone-15">iPhone 15</a> series, which was launched in September.
Earlier this week, Warren voiced her support for a Department of Justice antitrust case against Apple. Warren specifically criticized Apple&#8217;s smartphone market share.
Warren also criticized <a href="https://www.benzinga.com/news/23/12/36165068/apple-pulls-plug-on-imessage-for-android-app-beeper-mini-its-back-to-green-bubbles-now-for-android-u">Apple's decision</a> to pull the plug on the &#8216;iMessage for Android&#8217; app Beeper Mini. Apple CEO Tim Cook's <a href="https://www.benzinga.com/markets/equities/24/03/37886882/tim-cooks-buy-your-mom-an-iphone-comes-back-to-bite-apple-in-dojs-antitrust-lawsuit">conversation with a journalist</a> in 2022 made matters worse for Cupertino, finding its way into the U.S. Department of Justice's (DOJ) antitrust lawsuit against the company.
Apple has <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">strongly defended</a> its position, arguing that the lawsuit poses a threat to the company&#8217;s core principles and its ability to innovate.
Price Action: Apple&#8217;s stock closed at 1.22% down at $165 on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga&#8217;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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38292593/china-linked-espionage-campaign-targeting-apples-iphones-blackberry-raises-alarm-with-new-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China-Linked Espionage Campaign Targeting Apple's iPhones: BlackBerry Raises Alarm With New Report</a>
Disclaimer:&nbsp;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.
Photo courtesy: Shutterstock

Politics

Former Windows Head Slams Elizabeth Warren For Apple's 'Smartphone Monopoly' Comment: 'This Needs A...Good Grief'

Tesla Inc. CEO Elon Musk has postponed his <a href="https://www.benzinga.com/markets/equities/24/04/38292965/elon-musk-to-jet-off-to-india-ahead-of-teslas-crucial-q1-earnings-eyes-2b-4b-investments-report">highly anticipated visit to India</a>, which was scheduled for April 21-22.
What Happened: Musk, who was expected to meet with Prime Minister Narendra Modi during his visit, has deferred the plans.
Tesla&#8217;s crucial Q1 earnings slated for April 23 have played a role in the delay, as confirmed by Musk in a post on X, formerly Twitter.
See Also: <a href="https://in.benzinga.com/content/38335728/chola-securities-dharmesh-kant-on-markets-as-earnings-kickoff-this-market-is-discounting-that-nothin" target="_blank" rel="noreferrer noopener">Chola Securities Dharmesh Kant On Markets As Earnings Kickoff This Market Is Discounting That Nothing Can Go Wrong'</a>
Musk said, "Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781541775183610310?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
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<a href="http://pro.benzinga.com">Benzinga</a> has reached out to Tesla for a comment but did not immediately receive a response at the time of writing.
Wedbush's Dan Ives termed it a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38336261/tesla-musk-face-moment-of-truth-with-q1-earnings-call-believers-are-giving-up-on-th">"moment of truth"</a> for both Musk and Tesla.
&#8220;Next week&#8217;s conference call and messaging one of the most important moments in the company&#8217;s history in our view,&#8221; Ives said.
Why It Matters: Musk&#8217;s visit to India was highly anticipated, with speculations rife about the announcement of investment and manufacturing plans in the country.
The billionaire entrepreneur was <a href="https://in.benzinga.com/content/38196950/tesla-coming-to-india-elon-musk-to-meet-indian-pm-narendra-modi-likely-to-announce-investment-plan-l">expected to meet with PM Modi</a> and make an official announcement regarding his India strategies during the visit.
Additionally, Musk was reportedly <a href="https://www.benzinga.com/markets/equities/24/04/38292965/elon-musk-to-jet-off-to-india-ahead-of-teslas-crucial-q1-earnings-eyes-2b-4b-investments-report">considering an investment</a> of $2 billion to $3 billion for a new factory in India.
The Indian government&#8217;s recent decision to revise the foreign direct investment (FDI) limits in the space sector, effective April 16, was also seen as a move that could <a href="https://in.benzinga.com/content/38309589/how-stars-have-aligned-for-elon-musks-starlink-as-india-eases-fdi-caps-ahead-of-tesla-boss-visit">support Musk&#8217;s Starlink plans</a> in India.
Tesla is scheduled to report its first-quarter results on Tuesday, with analysts, on average, estimating earnings per share of 51 cents and revenue of $22.34 billion, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data.&nbsp;</a>This compares to the year-ago's 85 cents per share and $23.33 billion, respectively.
Read Next: <a href="https://in.benzinga.com/content/38333998/jio-financial-services-q4-net-profit-up-5-from-last-quarter-revenue-at-418-cr" target="_blank" rel="noreferrer noopener">Jio Financial Services Q4 Net Profit Up 5 From Last Quarter Revenue At ₹418 Cr</a>
Disclaimer:&nbsp;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.
Photos courtesy: Shutterstock

Elon Musk Puts Plans To Meet India's Modi On Hold: 'Very Heavy Tesla Obligations Require That The Visit To India Be Delayed'

Tesla Inc. CEO Elon Musk ridiculed the <a href="https://www.benzinga.com/news/24/04/38341107/whats-going-on-with-nvidias-stock">sharp 10% decline</a> in Nvidia Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock and its subsequent $211 billion market capitalization loss on Friday.
What Happened: Musk took to X, formerly Twitter, on Friday to mock the substantial decline in Nvidia's market capitalization. He referred to the 10% decline as &#8220;rookie numbers."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Rookie numbers
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781479341366362115?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
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On Friday, Nvidia&#8217;s stock took a significant hit, resulting in a $211 billion loss in market capitalization. This was the second-largest single-day loss in the history of the U.S. stock market.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38314733/teslas-autonomous-driving-efforts-win-praise-from-goldman-sachs-wall-street-firm-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Autonomous Driving Efforts Win Praise From Goldman Sachs</a>
Overall, the Magnificent 7 group of stocks, which includes Apple Inc., Alphabet Inc.'s Google, Microsoft Corp., Meta Platforms Inc., Amazon.com Inc., Tesla and Nvidia together witnessed a record $950 billion loss of market capitalization in the last week, according <a href="https://www.marketwatch.com/story/nvidias-stock-plunge-leads-magnificent-seven-to-record-weekly-market-cap-loss-8e0a55f7">to</a> MarketWatch.
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: The decline in Nvidia&#8217;s stock value has had a significant impact on the market.
The tech-heavy Nasdaq 100 index <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">experienced its worst day</a> since late 2023, and the worst week since late 2022, with a 2.1% drop on Friday. This marked the fourth consecutive week of declines, a negative streak not seen since May 2022.
On a weekly basis, the Nasdaq 100, which is closely tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tumbled 5.3%, marking its worst performance since October 2022. The downturn on Friday further exacerbated the already pessimistic sentiment surrounding U.S. tech stocks.
Nvidia&#8217;s stock decline was attributed to a series of events, including worse-than-expected earnings from <a href="https://www.benzinga.com/news/earnings/24/04/38341107/whats-going-on-with-nvidias-stock">ASML Holdings N.V.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and a reduced outlook for the chip market by <a href="https://www.benzinga.com/news/earnings/24/04/38341107/whats-going-on-with-nvidias-stock">Taiwan Semiconductor Manufacturing Company Ltd.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Despite the stock decline, <a href="https://www.benzinga.com/news/24/04/38320056/whats-going-on-with-apple-supplier-taiwan-semi-stock-on-thursday">TSM&#8217;s revenue surged 16.5%</a> to $18.87 billion, surpassing the Street consensus estimate of $18.40 billion. This was attributed to robust demand from artificial intelligence firms.
Other companies in the semiconductor sector, such as Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), also experienced stock declines on Friday, further adding to the overall negative sentiment in the market.
Check out more of Benzinga&#8217;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: <a href="https://www.benzinga.com/news/24/04/38334831/think-trading-in-your-iphone-helps-keep-planet-green-turns-out-there-are-plenty-of-dirty-secrets-rep">Think Trading In Your iPhone Helps Keep Planet Green? Turns Out There Are Plenty Of Dirty Secrets, Report Reveals</a>
Disclaimer:&nbsp;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.
Image created via photos on Shutterstock

ASML

NVDA

SMCI

Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: 'Rookie Numbers'

House Oversight Committee Chair James Comer (R-Ky.) has publicly opposed the <a href="https://www.benzinga.com/news/24/04/38327855/marjorie-taylor-greene-says-mike-johnson-has-turned-into-a-mini-tyrant-we-need-a-new-speaker">motion to vacate Speaker</a> Mike Johnson (R-La.) filed by Rep. Marjorie Taylor Greene (R-Ga.).
What Happened: Comer criticized Greene&#8217;s motion to remove Johnson, stating that it is &#8220;not the right business model&#8221; in an <a href="https://www.foxnews.com/video/6351261923112">interview</a> with Fox News on Friday
Comer acknowledged the challenges Johnson has faced and the <a href="https://www.benzinga.com/news/24/04/38084745/marjorie-taylor-greene-brands-mike-johnson-a-democrat-comparable-to-nancy-pelosi-literally-turned-in">increasing pressure from Greene</a> due to his efforts to provide additional aid to Ukraine. Despite this, Comer believes that changing Speakers is not the solution.
"It's gotten a lot worse since he's been here. But changing Speakers is not the right business model."
Greene&#8217;s motion, filed in late March, has garnered support from at least three GOP co-sponsors. Greene has been vocal about her <a href="https://www.benzinga.com/news/24/04/38017280/marjorie-taylor-greene-and-mike-johnson-to-hold-discussion-next-week-following-text-interaction-shes">dissatisfaction with Johnson&#8217;s leadership,</a> particularly regarding the provision of additional aid to Ukraine.
See Also: <a href="https://www.benzinga.com/news/24/04/38341107/whats-going-on-with-nvidias-stock?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Nvidia&#8217;s Stock?</a>
Comer, however, expressed his support for Johnson, suggesting that he should remain Speaker at least until the end of the current session. He also criticized the motion to vacate that led to the ousting of former Speaker Kevin McCarthy (R-Calif.) last year, calling it a &#8220;mistake.&#8221;
Why It Matters: Comer&#8217;s comments come amid growing discontent within the Republican Party over Johnson&#8217;s leadership. Greene has been vocal about her intentions to remove Johnson from his position, citing his efforts to provide additional aid to Ukraine as a primary reason. Despite her efforts, Johnson has received <a href="https://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts">backing from former President Donald Trump</a>, who has expressed his support for the Speaker.
Greene&#8217;s motion to vacate was further supported by Rep. Thomas Massie (R-Ky.), who publicly endorsed <a href="https://www.benzinga.com/news/24/04/38284071/marjorie-taylor-greene-bid-to-oust-speaker-mike-johnson-joined-by-thomas-massie-its-a-clusterf-k">Greene&#8217;s efforts to remove Johnson.</a>
Johnson has also faced criticism from conservatives for the lack of border security provisions in his latest foreign aid proposal. He <a href="https://www.benzinga.com/news/24/04/38305637/mike-johnson-on-border-criticism-some-of-my-colleagues-want-the-speaker-of-the-house-to-have-a-magic">attributed the lack of action to Senate and White House Democrats</a>, stating that some of his colleagues want the Speaker of the House to have a &#8220;magic wand.&#8221;
Read Next: <a href="https://www.benzinga.com/news/24/04/38286407/gop-mega-donors-son-throws-support-behind-incumbent-president-in-biden-vs-trump-battle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Mega Donor&#8217;s Son Throws Support Behind Incumbent President In Biden Vs. Trump Battle</a>
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 courtesy: Flickr

James Comer Slams Marjorie Taylor Greene's Motion To Oust Mike Johnson: 'It's Gotten A Lot Worse...But Changing Speakers Is Not The Right Business Model'

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has gone back to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36674199/teslas-price-cut-puzzle-will-discounts-drive-demand-or-train-customers-to-wait-for-">a strategy that has been widely criticized as one of the main reason</a>s for the electric vehicle maker&#8217;s current predicament. Late Friday, the company took down the price of its Model S, X and Y prices in the U.S.
What Happened: Updated pricing available on Tesla&#8217;s website showed that the prices of the dual-motor all-wheel drive Model S and the trimotor all-wheel drive Model S Plaid have been reduced by $2,000.
The changes are as follows:
<ul>
<li>Model S: $72,990 ( down 2.7% from $74,990 previously)</li>
<li>Model S Plaid: $87,990 (down 2.2% from $89,990 previously)</li>
<li>Model X: $77,990&#x2A; ( down 2.6% from $75,990 previously)</li>
<li>Model X Plaid: $92,990 (down 2.2% from $90,990 previously)</li>
<li>Model Y rear-wheel drive: $42,990&#x2A; (down 4.5% from $44,990 previously)</li>
<li>Model Y dual-motor AWD, Long Range: $47,990&#x2A; (down 4.0% from $49,990 previously)</li>
<li>Model Y dual-motor AWD, Performance: $51,490&#x2A; (down 3.7% from $53,490 previously)</li>
</ul>
&#x2A;not including the $7,500 EV federal tax credit
The previous prices were sourced from information provided by Tesla influencer Sawyer Merritt in a <a href="https://twitter.com/SawyerMerritt/status/1781532245955616983">post</a> on X.
Merritt also noted that Tesla has ended its referral program in the U.S. on April 30. &#8220;Qualifying referral orders placed by April 30, 2024, will continue to earn benefits upon delivery. Credits will still be redeemable until they expire,&#8221; the company apparently said in a communication to users. Earlier, Tesla Drive Canada <a href="https://driveteslacanada.ca/news/tesla-ending-referral-program-in-some-countries/">reported </a>about referral program expiry in select countries such as Australia, New Zealand, and South Korea.
See Also:&nbsp;<a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" target="_blank" rel="noreferrer noopener">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: Tesla typically announces price cuts late Thursday and the fact that it has pushed it back until after the market close suggests the company is wary of the announcement creating volatility in the stock.
Tesla shares ended down for a sixth straight session on Friday and the losing streak resulted in a cumulative loss of about 16%. 
Tesla bulls and bears have been highly critical of the company&#8217;s price-cutting strategy, given the past results of the action. The multiple EV price cuts the company has announced since late 2022 in China and from the beginning of 2023 in the rest of the geographies have not served to lift volume. In the first quarter, deliveries declined year-over-year for the first time since the COVID-19-hit 2020-second quarter. This has given rise to fears that the company may be staring at a negative volume growth for 2024.
The core auto gross margin has suffered due to the price cuts and the action has also served to impact the EV industry as a whole, as the rest of the companies are forced to either follow suit and take a beating to their bottom line or stay pat and risk erosion in their market share.
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>.
The price cuts culminate an event-filled week for Tesla as it announced a round of massive layoffs, including a couple of high-profile executives, and doubts about its sub-$30K EV plans intensified. 
Tesla is scheduled to report its first-quarter results on Tuesday, with analysts, on average, estimating earnings per share of 51 cents and revenue of $22.34 billion, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>This compares to the year-ago&#8217;s 85 cents per share and $23.33 billion, respectively.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38332930/management-expert-warns-elon-musk-faces-ceo-overload-after-tesla-layoffs-reportedly-leave-him-ov">Management Expert Warns Elon Musk Faces &#8216;CEO Overload&#8217; After Tesla Layoffs Reportedly Leave Him Overseeing 35 Key Personnel</a>
Image Created Via Midjourney

Tesla Slashes Model S, X And Y Prices In US By $2,000 In Late-Friday Move As Volume Growth Turns Negative

The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38331688/peter-schiff-slams-bitcoin-for-not-being-the-safe-haven-asset-its-promoted-to-be-af">recent market dip</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) saw a significant increase in the holdings of large investors, commonly referred to as &#8220;whales,&#8221; who collectively added over $1.2 billion worth of BTC to their portfolios.
What Happened: On Friday, as the price of Bitcoin dropped below $60,000, large investors increased their holdings by 19,760 BTC, equivalent to $1.2 billion, according to a report by <a href="https://www.coindesk.com/markets/2024/04/19/bitcoin-whales-bought-12b-btc-amid-the-price-dip-fueling-the-quick-rebound/">CoinDesk</a>, citing data from IntoTheBlock.
This move is seen as a significant shift in the behavior of these influential market players.
"Bitcoin whales may have finally started buying the dip," said IntoTheBlock.
These large investors, who control substantial amounts of the digital asset, are often considered to be well-informed and their actions can have a considerable impact on the market.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38321897/dogecoin-shiba-inu-and-who-else-how-meme-coins-have-evolved-since-the-last-bitcoin-halving?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving</a>
Their recent purchases may have contributed to Bitcoin&#8217;s rapid recovery from its overnight low of $59,600 to around $65,000. The cryptocurrency is currently trading at approximately $64,000, marking a 1% increase over the past 24 hours.
"Historically, accumulations by these addresses have often preceded rises in Bitcoin&#8217;s price."
Bitcoin, the largest cryptocurrency by market capitalization, has been experiencing a period of consolidation following record-breaking prices last month.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin whales may have finally started buying the dip&#x1f447; Yesterday, the biggest Bitcoin holders, holding over 0.1% of the total supply, collectively added 19,760 Bitcoins to their holdings at an average price of $62.5k. Historically, accumulations by these addresses have often… <a href="https://t.co/c8K5uhkna4">pic.twitter.com/c8K5uhkna4</a>
&mdash; IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1781263617528045852?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: The recent behavior of Bitcoin whales is significant as it indicates a shift in market sentiment. This comes at a time when a new report has shed light on the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38317307/bitcoin-halving-will-institutions-and-smart-money-upend-past-price-rallies">role of institutions</a> and &#8220;smart money&#8221; in influencing Bitcoin&#8217;s price action.
Despite concerns about potential price volatility, Bitcoin has <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38340794/bitcoin-in-the-danger-zone-is-a-20-price-crash-imminent">held strong</a> following the fourth halving event, which saw miner rewards reduced from 6.25 BTC to 3.125 BTC.
Price Action: At the time of writing, Bitcoin was hovering at $63,694, reflecting a 0.1% increase in the last hour and a 5.9% increase in the last 24 hours, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38306270/dogecoin-could-make-elon-musks-fate-loves-irony-comment-come-true-if-it-flips-ethereums-ma?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Make Elon Musk&#8217;s &#8216;Fate Loves Irony&#8217; Comment Come True If It Flips Ethereum&#8217;s Market Cap</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image generated using Dall-E

Bitcoin Whales Scoop Up $1.2B Worth Of BTC During Market Dip: Is Potential Rally For King Crypto On The Cards?

The New York Attorney General Letitia James' office has moved to invalidate the $175 million bond secured by former President Donald Trump to delay payment of a larger monetary damage award in his <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37203878/peter-schiffs-theory-on-trump-ny-civil-fraud-case-ruling-attempt-to-scare-other-bus">civil fraud </a>case.
What Happened: The New York attorney general&#8217;s office has filed a request with a judge to nullify the <a href="https://www.benzinga.com/news/24/04/38037983/trump-clears-175m-bond-in-new-york-fraud-case-avoiding-potential-asset-seizures">$175 million bond</a> that Trump secured, arguing that the former president and his co-defendants failed to prove the surety used to obtain the bond has the money to back it, <a href="https://thehill.com/regulation/court-battles/4606053-ny-ag-trump-civil-fraud-judge-declare-175m-bond-without-effect/">The Hill</a> reported. 
The bond was secured by the California-based Knight Specialty Insurance Company. The state lawyers contended that Knight is a &#8220;small insurer that is not authorized to write business in New York&#8221; and had &#8220;never before written a surety bond in New York&#8221; until Trump.
The company&#8217;s total policyholder surplus is just $138 million, and under New York state law, companies like Knight can&#8217;t expose themselves to liabilities greater than 10% of their surplus.
See Also: <a href="https://www.benzinga.com/news/24/04/38305609/teary-biden-slams-trump-for-remarks-on-service-members-who-the-hell-does-he-think-he-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Teary Biden Slams Trump For Remarks On Service Members: &#8216;Who The Hell Does He Think He Is?&#8217;</a>
Why It Matters: The civil fraud case against Trump and his organization was initiated by the New York Attorney General. The case alleges that Trump and his organization <a href="https://www.benzinga.com/news/24/04/38103939/letitia-james-raises-questions-legitimacy-of-trumps-175m-bond-ex-presidents-attorney-says-another-wi">manipulated the value of assets</a> to obtain loans and tax benefits.
The judge is expected to address the issues raised by the attorney general&#8217;s office in a hearing on Monday, which will run parallel to the opening statements in Trump&#8217;s New York criminal trial.
These developments come amid a series of dramatic events surrounding Trump&#8217;s legal proceedings. On Friday, a <a href="https://www.benzinga.com/general/politics/24/04/38342704/protester-sets-self-on-fire-outside-trump-hush-money-trial-jury-selection-concludes-before-monda">protester set themselves on fire</a> outside the courtroom where Trump&#8217;s hush money trial was being held. This incident briefly interrupted the jury selection process.
Donald Trump is currently <a href="https://www.benzinga.com/news/23/03/31392130/trump-camp-slams-stormy-daniels-case-as-witch-hunt-by-radical-left-democrat-prosecutor" target="_blank" rel="noreferrer noopener">dealing with legal challenges</a> on both federal and state levels, across different places like New York City, Washington, Atlanta, Florida, and Georgia. Despite the allegations, he continues to assert his innocence, describing the cases as a &#8220;witch hunt.&#8221;
<a href="https://www.realclearpolitics.com/" target="_blank" rel="noreferrer noopener">According</a> to Real Clear Politics, at the national level, Trump held 44.6% support among voters, While Biden trailed with 44.2% support.
Read Next: <a href="https://www.benzinga.com/news/24/04/38305694/former-trump-attorney-says-very-unusual-to-have-lawyers-on-the-jury-they-can-be-a-very-strong-voice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Attorney Says &#8216;Very Unusual&#8217; To Have Lawyers On The Jury: &#8216;They Can Be A Very Strong Voice&#8217;</a>
Photo courtesy: Shutterstock

NY AG Letitia James Seeks To Void Trump's $175M Bond In Civil Fraud Case

Renowned crypto skeptic Peter Schiff took to X, formerly Twitter, to mock "Bitcoiners" after the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38345043/bitcoin-shrugs-off-fourth-halving-miner-rewards-halved-price-holds-strong">recent halving event</a>, suggesting that the "hodlers" will soon experience a halving of their net worth.
What Happened: Schiff sarcastically congratulated Bitcoin holders and asked if they were "throwing parties" to celebrate the halving event.
"Congratulations Bitcoiners on the Halving. Are you guys commemorating this occasion by throwing parties tonight? I haven&#8217;t been invited to any."
Bitcoin halving has taken place, with the 840,000th block having been mined. The mining reward has now been reduced to 3.125 BTC per block, compared to 6.25 BTC previously.
Bitcoin halving takes place every 210,000 blocks, and there are 21 million blocks in total. It is expected that this limit will be reached in 2040.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299089/trump-related-maga-memecoin-onboards-roger-stone-as-partner?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Related MAGA Memecoin Onboards Roger Stone As Partner</a>
While the halving event has reduced rewards for miners, Schiff mocked those holding the King Crypto.
"I think halving is an appropriate name for what&#8217;s happening as soon Bitcoin HODLers will experience a halving of their net worths."
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="581" height="259" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19213002/Peter-Schiff-1.jpg" alt="" class="wp-image-300797" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19213002/Peter-Schiff-1.jpg 581w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19213002/Peter-Schiff-1-300x134.jpg 300w" sizes="(max-width: 581px) 100vw, 581px" /></figure>
Why It Matters: The post comes after the completion of the fourth Bitcoin halving event, which occurred after the 840,000th block was mined. This event, which happens approximately every four years, is <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38341469/happy-bitcoin-halving-day-what-experts-predict-happens-next">designed to manage scarcity</a> and regulate the inflationary supply of Bitcoin.
This process effectively slows down the rate at which new Bitcoin is created. The last three halvings occurred in 2012, 2016, and 2020, leading to significant drops in mining rewards over time.
Some analysts have warned of <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38340794/bitcoin-in-the-danger-zone-is-a-20-price-crash-imminent">potential price volatility</a> following the halving. Pseudonymous cryptocurrency analyst Rekt Capital, for example, cautioned that the imminent Bitcoin halving may lead to price volatility.
Price Action: At the time of writing, Bitcoin was hovering at $63,600, down 0.1% in the last hour, and up 2.4% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38284502/dogecoin-killer-shiba-inu-sees-significant-increase-in-token-burn-rate-as-price-recovers-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Sees Significant Increase In Token Burn Rate As Price Recovers</a>
Disclaimer:&nbsp;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.
Image: Pete Linforth from Pixabay

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Peter Schiff Mocks 'Bitcoiners' After Halving Event, Asks If They're 'Throwing Parties:' 'Hodlers Will Experience A Halving Of Their Net Worths'

Bitcoin experienced a 1.5% increase over the last 24 hours following the successful completion of the fourth Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">halving event</a>, signifying a notable reduction in miner rewards. The event, which occurs every 210,000 blocks, has seen the reward for mining a block drop from 6.25 BTC to 3.125 BTC.
What Happened: The fourth Bitcoin halving event, a programmed process in the Bitcoin protocol, has taken place after the 840,000th block <a href="https://bitcoinhalving.club/">was</a> mined. This event, which occurs approximately every four years, is designed to manage scarcity and regulate the inflationary supply of Bitcoin.
As a result of the halving, Bitcoin miners will now receive 3.125 BTC per mined block, down from the previous 6.25 BTC. This process effectively slows down the rate at which new Bitcoin is created. The last three halvings occurred in 2012, 2016, and 2020, leading to significant drops in mining rewards over time.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38284502/dogecoin-killer-shiba-inu-sees-significant-increase-in-token-burn-rate-as-price-recovers-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Sees Significant Increase In Token Burn Rate, As Price Recovers — Is A Turnaround In The Making?</a>
Despite short-term predictions of price volatility within the crypto community, there remains optimism about the long-term potential of Bitcoin&#8217;s price. Billionaire investor Tim Draper believes that the halving is going to help push Bitcoin's price up to "$250,000 or more," a forecast he has consistently proclaimed, particularly in 2022.
&#8220;The Bitcoin halving is a pivotal event that historically signals a shift in the market, usually initiating a bullish trend over the following months. As we approached the fourth halving, the anticipation built, suggesting a continued—if slightly more subdued—upward trajectory,&#8221; M2 CEO Stefan Kimmel <a href="https://cointelegraph.com/news/bitcoin-halving-2024-completion-confirmed">told</a> Cointelegraph.
Why It Matters: Cryptocurrency <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38342981/bitcoin-ethereum-dogecoin-pick-up-steam-the-pre-halving-week-in-retrospect">markets surged on Friday</a>, with a 47.5% spike in total crypto liquidations reaching $258.7 million and a more than double increase in total exchange inflows, as investors eagerly awaited the <a href="https://www.benzinga.com/topic/bitcoin-halving" target="_blank" rel="noreferrer noopener">Bitcoin Halving</a>.
The global cryptocurrency market cap now stands at 2.35 trillion, up 4.7% in the past 24 hours. In the same period, 84,226 traders were liquidated, with total liquidations amounting to $257.93 million, on late Friday. 
Price Action: At the time of writing BTC was trading at $63,914, gaining 0.7% in minutes after halving, according to <a href="http://pro.benzinga.com">Benzinga Pro.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38293168/macro-guru-raoul-pal-says-80-of-his-crypto-investment-is-in-this-ethereum-rival-and-i-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Macro Guru Raoul Pal Says 80% Of His Crypto Investment Is In This Ethereum Rival: &#8216;And I Have 1% In Stupid S&#x2A;&#x2A;t Like Dogwifhat, Dogecoin And Bonk&#8217;</a>
Photo courtesy: Shutterstock

Bitcoin Shrugs Off Fourth Halving: Miner Rewards Halved, Price Holds Strong

SMFL

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

As 4/20 is upons us, <a href="https://www.benzinga.com/topic/weedmaps">Weedmaps </a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>) has provided valuable insights to forecast a significant sales boost for the industry and a widespread celebration of marijuana. The data, derived from big data analysis of user activities on the platform, indicates that the previous year&#8217;s 4/20 was highly successful, with Weedmaps experiencing a twofold increase in normal operations.
<h2 class="wp-block-heading">Big Data, Big Deals</h2>
Weedmaps pointed out that consumers are prioritizing value, as the platform registered a 200% surge in orders that redeem deals through the platform during 4/20 week of 2023 compared to 2022.&nbsp;
Furthermore, the platform has observed a rising trend in usage, with deal claims increasing by 100% over 2022. This uptick is likely motivated by price reductions, as the costs for flowers, vape pens, and edibles have continued to decrease for the second consecutive year, showing declines of 15%, 14%, and 17% when compared to 2021.
Weemaps also shared that consumers will probably be expending even more in goods than years before, since the average order value surged to $96.22 in 2023, a 14% increase compared to an average Thursday in April of 2023. This is despite deflation.
Additionally, the quantity of orders expanded by an average of 25% in terms of items per basket on 4/20 of last year, in comparison to 2022.
<h2 class="wp-block-heading">Category Insights</h2>
<ul>
<li>During the 4/20 retail week of 2023, vape pens witnessed a 29% growth over 2022, and an impressive 126% increase compared to 2020, with the largest demographic being Gen Z (31%).</li>
</ul>
<ul>
<li>Edibles are predominantly favored by consumers aged 50 and above, accounting for nearly half of all edible sales. The edibles category saw a 36% rise in orders during the 4/20 week of 2023 compared to the previous year.</li>
</ul>
<ul>
<li>Cannabis flower remains the top choice across all age groups, with nearly half of all orders on 4/20 in 2023 falling into this category. Remarkably, sales of flowers through Weedmaps surged by 47% on 4/20 compared to the prior year, and this growth expanded to 202% when compared to 4/20 in 2020.</li>
</ul>

MAPS

Unparalleled 4/20: Weedmaps Unveils Consumer Trends Ahead Of Cannabis Industry's Biggest Holiday

As you may have heard, cannabis consumption among older folks is on the rise. More specifically, seniors are one of the fastest-growing groups of <a href="https://www.benzinga.com/cannabis">cannabis users in the U.S. </a>
As it turns out, many older adults have been consuming weed for decades and new ones are joining in on the fun. Cannabis consumption among our parents and grandparents has quadrupled in the past eight years.
Study after study suggests that older adults are using cannabis to remedy an array of conditions such as sleep issues, pain,&nbsp;inflammation and to activate their appetites. 
But most consume because they still enjoy getting high.
"Sure, I sleep better with cannabis and topical creams alleviate my knee pain, but that's all new. I've been smoking pot for the past four decades and I see no reason to stop getting high," said Cynthia P who recently retired as an ER nurse in Ohio where recreational marijuana <a href="https://www.benzinga.com/markets/cannabis/23/11/35664155/ohio-legalizes-cannabis-and-overwhelmingly-approves-abortion-rights">became legal</a> last November.
Scientists and researchers are wisely becoming interested in this Baby Boomer demographic of 77 million, many of whom are healthy, economically stable and have no plans of checking out anytime soon, so they say.
One particular<a href="https://www.frontiersin.org/articles/10.3389/fnagi.2022.804890/full" target="_blank" rel="noreferrer noopener">&nbsp;study</a>,&nbsp;that examined marijuana use in adults aged&nbsp;60 to 88 found that&nbsp;whole-plant cannabis did&nbsp;not harm&nbsp;cognition but rather the opposite.&nbsp;Older cannabis users, relative to non-users, had&nbsp;significantly greater neuronal communication between the cerebellum and hippocampus.
Why? Age-related changes in the&nbsp;<a href="https://www.benzinga.com/markets/cannabis/22/07/28272841/the-endocannabinoid-system-101-the-basics-made-easy" target="_blank" rel="noreferrer noopener">endocannabinoid system</a>&nbsp;(ECS) include a decrease in the number of cannabinoid receptors throughout the brain.&nbsp;The ECS,&nbsp;a significant aspect of our human physiology that&nbsp;helps maintain homeostasis,&nbsp;is a complex cell-signaling system in the brain and body that interacts with just about all of our&nbsp;other body systems.&nbsp;
Which means? During normal aging, the decline in cannabinoid receptors correlates with increased levels of inflammation in these brain regions causing a loss of neurons in the hippocampus, which is critical for learning and&nbsp;memory.&nbsp;This, in short, explains age-related memory impairment.&nbsp;&nbsp;
"Oh, I believe that," Cynthia told Benzinga. "While I never consumed for a full shift before going to work, I'm convinced that marijuana has helped keep me and my mind sharp as I aged. I'm not saying it's for everyone, but for people of my generation there's nothing better."
Now Read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38341776/hemp-space-grew-3x-the-rate-of-cannabis-where-did-marijuana-get-it-wrong">Hemp Space Grew 3X The Rate Of Cannabis, Where Did Marijuana Get It Wrong?</a>
Photo: Shutterstock