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Chris Vermeulen, Chief Investment Officer (CIO) of Technical Traders, suggests that this could result in a bear market and a challenging &#8220;reset&#8221; that might adversely affect returns for years to come.
What Happened: Vermeulen highlighted the recent surge in defensive assets such as precious metals, energy stocks, and industrial stocks, in an <a href="https://www.youtube.com/watch?v=eLVbEbIgcfg">interview</a> with Bloomberg on Tuesday. 
These sectors typically perform well in the late stages of a bull market, signaling an impending bear market or financial reset.
The CIO predicted that investors could face significant stock losses, with wealth potentially decreasing by 30%-50% over the next year. He also suggested that this reset could coincide with a recession, particularly indicated by industrial stocks, which have been hitting all-time highs.
&#8220;I think we&#8217;re coming into a major market top, more or less a financial reset,&#8221; Vermeulen said in the interview. &#8220;It&#8217;s short-term, temporarily painful. But we need markets to reset. We need regular pullbacks and corrections in order for the market to keep going up.&#8221; 
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Court Case That Could Change The Cannabis Industry Forever And How It Affects Rescheduling</a>
Vermeulen expressed concern that U.S. firms may not be aware that the end of an economic growth cycle is approaching, and the industrial sector could soon start to slow down. 
These warnings come amid ongoing concerns about a potential recession, with the New York Fed estimating a 58% chance of the economy tipping into a recession by March of next year.
Why It Matters: Despite Vermeulen&#8217;s warnings, some experts remain optimistic about the stock market&#8217;s future. For instance, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">Wall Street veterans</a> have dismissed recent concerns, citing a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers for the market&#8217;s continuation.
Similarly, the stock market&#8217;s long-term bull rally, now in its 11th year, is <a href="https://www.benzinga.com/markets/equities/24/03/37926504/stock-market-could-rally-another-34-by-2026-says-bank-of-america">predicted to continue</a>, with the S&amp;P 500 potentially surging by 34% by the end of 2026. 
However, some analysts, such as those at Ned Davis Research (NDR), have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37640416/stock-market-could-be-on-brink-of-a-correction-says-analyst-who-doesnt-expect-a-bea">cautioned that the current market conditions</a> could lead to a correction, making it vulnerable to potential corrections due to prolonged market enthusiasm.
Meanwhile, CNBC host Jim Cramer has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37640416/stock-market-could-be-on-brink-of-a-correction-says-analyst-who-doesnt-expect-a-bea">outlined potential factors</a> that could lead to a further market decline, advising investors to be cautious about their buying and selling decisions.
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>
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Equities

News

Economics

Markets

Stock Market 'Reset' Ahead, Warns Technical Traders: 'We're Coming Into A Major Market Top'

IncomeSharks, a crypto analyst, has predicted the future of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price. According to the forecast, the cryptocurrency could experience a significant drop below the $60,000 mark before potentially witnessing a &#8216;hate halving rally.&#8217;
What Happened: IncomeSharks took to X to share its forecast. The analyst suggested that Bitcoin might dip below the $60,000 level, which could prompt panic selling. The analyst believes that this would be a necessary step to clear out the remaining holders who are relying on the support to hold. 
&#8220;#Bitcoin &#8211; Still think we break and close below $60k to get another round of panic sellers gone. People probably still holding thinking support is holding. We need to break them first. Then we can get a hate halving rally,&#8221; the analyst said. 
<a href="https://twitter.com/IncomeSharks/status/1780750451140694412/photo/1"></a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> &#8211; Still think we break and close below $60k to get another round of panic sellers gone. People probably still holding thinking support is holding. We need to break them first. Then we can get a hate halving rally. <a href="https://t.co/LHrQhMJwgA">pic.twitter.com/LHrQhMJwgA</a>
&mdash; IncomeSharks (@IncomeSharks) <a href="https://twitter.com/IncomeSharks/status/1780750451140694412?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
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IncomeSharks&#8217; prediction comes at a crucial time, just days before the upcoming <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299086/bitcoin-halving-in-3-days-what-to-expect-from-btc-this-week-and-in-2024">Bitcoin halving event</a>. This process, which occurs approximately every four years, is designed to introduce anti-deflationary features to Bitcoin. Historically, this event has led to a surge in the cryptocurrency&#8217;s price.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274831/elon-musk-teases-dogecoin-tweet-but-doge-fails-to-rally-from-20-weekly-correction?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Teases Dogecoin Tweet But DOGE Fails To Rally From 20% Weekly Correction</a>
Why It Matters: The upcoming Bitcoin halving event has been a topic of intense speculation. Many analysts and investors are closely watching to see how this event will impact the market. Some experts believe that the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38288999/exclusive-how-the-bitcoin-halving-could-transform-the-market">halving could transform the market</a> and lead to a significant price increase.
The analyst&#8217;s prediction aligns with the recent market volatility. Ali Martinez, another crypto analyst, highlighted the $62,000 level as a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284030/bitcoin-hinges-on-this-key-support-level-says-analyst-could-significantly-boost-the">critical support zone for Bitcoin</a>. Failure to maintain this level could shift focus to the next significant demand area, around $51,500. However, Martinez also pointed out a potential trigger for a bullish trend. If Bitcoin manages to climb back above $66,250, it could significantly boost the chances of a resurgence in the market.
Meanwhile, notable financial commentator Jim Cramer recently advised against investing in Marathon Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38306296/jim-cramer-says-just-go-buy-ethereum-or-bitcoin-instead-of-marathon-digital-lets-not-fool-">company involved in Bitcoin mining</a>, and instead recommended Bitcoin or Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) as alternatives. 
Price Action:&nbsp;Bitcoin is currently trading at $61,562, showing a 0.48% increase in the last 24 hours and a notable 39.37% gain year to date, according to data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274582/shiba-inu-down-20-on-the-week-but-these-proven-milestones-could-lead-to-massive-bull-marke?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Down 20% On The Week, But: These &#8216;Proven Milestones&#8217; Could Lead To &#8216;Massive Bull Market,&#8217; Touts</a>
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Cryptocurrency

Analyst Ratings

$BTC

$ETH

MARA

Bitcoin Could Potentially Dip Below $60K Before 'Hate Halving Rally,' Says Crypto Analyst

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has the potential to see its stock price surge by 81% in the next year, according to a recent note by Evercore ISI.
What Happened: Evercore ISI initiated Nvidia with an &#8220;Outperform&#8221; rating and set a price target of $1,160, representing a 36% potential upside from the current levels, <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-prediction-ai-ecosystem-potential-fully-realized-2024-4">reported</a> Business Insider. 
In a bullish scenario, the firm suggested that the stock could potentially reach $1,540, an 81% increase from the current levels.
The note highlighted Nvidia&#8217;s position as a leader in the AI ecosystem, a role that is expected to drive efficiency gains for years to come. 
Evercore ISI&#8217;s Mark Lipacis believes that Nvidia&#8217;s AI ecosystem play could capture 80% of the value created during its respective computing era, with the potential to dominate the parallel processing market by 2030, a market that could be worth more than $350 billion.
&#8220;We think investors underestimate 1) the importance of the chip+hardware+software ecosystem that Nvidia has created, 2) that computing eras last 15-20 years and are typically dominated by a single vertically integrated ecosystem company, whose returns are measured in 100-to-1000 bagger range,&#8221; Lipacis said.
&#8220;We believe that the Tectonic Shift to the current Parallel Processing / IoT Computing Era started 5-to-8 years ago, and that NVDA is the dominant ecosystem play in parallel processing, which is only in the beginning phases of generating outsized returns for its investors,&#8221; Lipacis said.  
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Why It Matters: Nvidia has been making strategic moves to solidify its position in the AI chip market. In response to U.S. sanctions, the company has <a href="https://www.benzinga.com/government/24/04/38267102/intel-and-nvidia-reveal-new-products-for-china-adapt-ai-chip-strategies-in-response-to-us-sanctions">revealed new products for China</a>, aiming to launch two AI chips with diminished capabilities to comply with the sanctions. This move could potentially open up new avenues for growth in the Chinese market.
Analysts have also been bullish on Nvidia&#8217;s future prospects. Piper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Nvidia, citing <a href="https://www.benzinga.com/news/24/04/38257652/nvidias-hopper-demand-and-blackwell-launch-position-makes-it-a-top-large-cap-pick-analysts">strong demand for the company</a>&#8216;s Hopper chips and the upcoming Blackwell launch as key factors driving future growth.
Despite recent market dips, market commentator Jim Cramer has maintained his <a href="https://www.benzinga.com/markets/equities/24/04/38175804/jim-cramer-stands-by-nvidia-and-eli-lilly-despite-market-dips-says-terrific-time-to-take-some-pr">confidence in Nvidia</a>, noting that the stock still holds significant growth potential.
Read Next: <a href="https://www.benzinga.com/news/24/04/38286752/elon-musk-reacts-as-marc-andreessen-says-google-is-literally-run-by-employee-mobs-with-chinese-spies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As Marc Andreessen Says Google Is &#8216;Literally Run By Employee Mobs&#8217; With &#8216;Chinese Spies&#8217; Scooping Up AI Chip Designs</a>
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Tech

NVDA

Nvidia Stock Could See 81% Upside By 2025, Says Evercore ISI: 'Only In The Beginning Phases Of Generating Outsized Returns'

In a recent episode of &#8220;Mad Money,&#8221; host Jim Cramer advised against investing in Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and instead recommended Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) or Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
What Happened: Cramer, in his &#8220;Lightning Round&#8221; segment, discouraged viewers from purchasing Marathon Digital, a company involved in Bitcoin mining, <a href="https://www.cnbc.com/2024/04/17/cramers-lightning-round-ethereum-or-bitcoin-instead-of-marathon-digital.html">reported</a> CNBC. He suggested that investors consider Bitcoin or Ethereum as alternatives.
"If you want to own Marathon Digital, just go buy either Ethereum or buy Bitcoin, ok. Let's not fool around," Cramer said. 
Marathon Digital&#8217;s stock has experienced a tumultuous period, with its value dropping by over 20% in the past month. This decline is attributed to the overall volatility in the cryptocurrency market.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38284285/netflix-amc-united-airlines-wisa-technologies-tesla-why-these-5-stocks-are-on-investors-radars-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NFLX, AMC,UAL, WISA, TSLA: Top Trending Stocks Today</a>
Why It Matters: Cramer&#8217;s advice aligns with the current state of the crypto market. On Tuesday, cryptocurrency analyst Ali Martinez <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284030/bitcoin-hinges-on-this-key-support-level-says-analyst-could-significantly-boost-the">highlighted the importance</a> of Bitcoin&#8217;s $62,000 support level. Failure to maintain this level could shift focus to the next significant demand area, approximately $51,500. Conversely, a climb back above $66,250 could significantly boost the chances of a resurgence in the market.
Despite concerns about the crypto market, Wall Street experts remain <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">confident in the bull market</a>&#8216;s continuation. They cite a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers.
On the broader market front, Cramer has also <a href="https://www.benzinga.com/markets/equities/24/04/38306086/jim-cramer-explains-what-could-trigger-further-market-decline-if-you-want-to-get-out-go-ahead">outlined potential factors</a> that could lead to further market decline, advising investors to be cautious about their buying and selling decisions. His recent advice regarding Marathon Digital is in line with his cautious approach to the current market conditions.
Price Action: While Marathon Digital Holdings closed at $14.63 on Wednesday, marking a modest 0.21% increase, the stock has experienced a significant decline of 36.20% year to date. In contrast, Bitcoin is currently trading at $61,562, showing a 0.48% increase in the last 24 hours and a notable 39.37% gain year to date. Ethereum, on the other hand, is trading at $3,000, with a 0.61% increase in the past 24 hours and a solid 27.54% gain year to date, according to data <a href="https://pro.benzinga.com/dashboard">from 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>
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Jim Cramer Says Just Go Buy Ethereum Or Bitcoin Instead Of Marathon Digital: 'Let's Not Fool Around'

Social media personality Topdoge recently speculated on the potential for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) to reach a $500B market cap, reminiscent of Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) previous bull run.
What Happened: On Wednesday, Topdoge shared an analysis on X, formerly Twitter, comparing Dogecoin&#8217;s potential growth to Ethereum&#8217;s 2020 bull run. If Dogecoin were to hit a $500B market cap, the cryptocurrency&#8217;s value would be around $4.20, according to Topdoge&#8217;s calculations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dogecoin 2024 &#x1f436; vs Ethereum 2020 &#x1f4c8; Just did the math. If Dogecoin hits $500B market cap like Ethereum hit last bull run it will put Dogecoin right up around $4.20 &#x1f440; Remember when Elon Musk said that "fate loves irony" I don't think that he was joking. <a href="https://t.co/csg3X7s10x">pic.twitter.com/csg3X7s10x</a>
&mdash; 
</blockquote></div></figure>

$DOGE

Dogecoin Could Make Elon Musk's 'Fate Loves Irony' Comment Come True If It Flips Ethereum's Market Cap At Last Bull Run, Says This Crypto Influencer

Elon Musk has raised concerns about the potential dangers of super-powerful artificial intelligence (AI) on social media platform X.
What Happened: Musk, the CEO of Tesla Inc and SpaceX, reacted to a post by venture capitalist Marc Andreessen on Wednesday, warning of the &#8220;civilization-level risks&#8221; posed by super-powerful AI.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Super-powerful AI programmed in this way has severe civilization-level risk <a href="https://t.co/uQEjDobhzK">https://t.co/uQEjDobhzK</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1780767530963042730?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
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Andreessen&#8217;s post highlighted the influence of individuals who determine what can be accessed online and are currently shaping AI. This was in response to a post by Christopher F. Rufo who quoted Katherine Maher, the CEO of NPR.
Maher highlighted that &#8220;the number one challenge&#8221; in combating disinformation is the First Amendment in the United States, which complicates efforts to censor &#8220;bad information&#8221; and &#8220;influence peddlers&#8221; who propagate it.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">EXCLUSIVE: Katherine Maher says the &quot;the number one challenge&quot; in her fight against disinformation is &quot;the First Amendment in the United States,&quot; which makes it &quot;a little bit tricky&quot; to censor &quot;bad information&quot; and &quot;the influence peddlers&quot; who spread it. NPR&#39;s censor-in-chief. <a href="https://t.co/0vY6hIpbmO">pic.twitter.com/0vY6hIpbmO</a>
&mdash; Christopher F. Rufo &#x2694;&#xFE0F; (@realchrisrufo) <a href="https://twitter.com/realchrisrufo/status/1780597079439446250?ref_src=twsrc%5Etfw">April 17, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38243189/elon-musk-reacts-to-his-21-year-old-profile-calling-tesla-ceo-the-six-million-dollar-man-feels-like?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To His 21-Year-Old Profile Calling Tesla CEO &#8216;The Six Million Dollar Man:&#8217; &#8216;Feels Like Aeons Ago&#8217;</a>
Why It Matters: Musk&#8217;s recent warnings about the potential dangers of AI are particularly significant given his prominent role in the development and implementation of this technology. His concerns add to the ongoing debate about the ethical and societal implications of AI, especially as it becomes increasingly integrated into various aspects of our lives.
These remarks by Musk follow his recent comments about the potential dangers of AI. Just a day before, he warned about the <a href="https://www.benzinga.com/news/24/04/38265325/elon-musk-warns-ais-potential-to-lie-for-political-correctness-poses-threat-to-humanity-would-be-ver">threat posed by AI</a> being trained to lie for political correctness. 
He had also <a href="https://www.benzinga.com/general/24/04/38258816/elon-musk-calls-artificial-intelligence-greatest-potential-breakthrough-in-lifetime-with-caveat-a-sm">previously acknowledged</a> AI as the greatest potential breakthrough in our lifetime, with a caveat that there is a small chance it could &#8220;kill us all.&#8221;
These warnings coincide with <a href="https://www.benzinga.com/news/24/04/38214870/elon-musks-ai-startup-xai-reportedly-seeks-4b-to-challenge-chatgpt-parent-openai-valuation-could-hit">reports earlier this month</a> that Musk&#8217;s AI startup, xAI Corp., is seeking significant funding, potentially amounting to $4 billion. 
Musk had also made some striking predictions about the impact of <a href="https://www.benzinga.com/personal-finance/24/03/37784544/elon-musk-predicts-a-universal-high-income-as-jobs-are-phased-out-and-employment-becomes-obsolet">AI on jobs and income</a>, envisioning a &#8220;universal high income&#8221; as jobs are phased out and employment becomes obsolete.
Read Next: <a href="https://www.benzinga.com/news/24/04/38178568/elon-musk-reacts-to-old-clip-of-apple-co-founder-steve-jobs-saying-theres-a-tremendous-amount-of-cra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Old Clip Of Apple Co-Founder Steve Jobs Saying &#8216;There&#8217;s A Tremendous Amount Of Craftsmanship In Between A Great Idea And A Great Product&#8217;</a>
Image Via Shutterstock 
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Social Media

Elon Musk Reacts To NPR CEO's Remarks On Freedom Of Speech: 'Super-Powerful AI Programmed In This Way Has Severe Civilization-Level Risk'

On Wednesday, Cathie Wood-led Ark Invest continued its buying spree of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares, despite the electric vehicle maker&#8217;s stock facing a fourth consecutive session of losses.
The TSLA Trade
Ark Invest, through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>), purchased a total of 66,504 shares of Tesla. 
This move comes amidst concerns over Tesla&#8217;s <a href="https://www.benzinga.com/markets/equities/24/04/38284203/cathie-woods-ark-laps-up-3-3m-worth-of-tesla-as-stock-falls-for-3rd-straight-session-sheds-share">potentially disappointing quarter</a> and rumors of a shift in its product pipeline plans. The value of the trade, based on the closing price of $155.45, is approximately $10.34 million. Notably, Tesla was the only trade made on Wednesday by Ark Invest.
Despite the bearish market sentiment, Ark Invest&#8217;s decision to buy Tesla shares aligns with its long-term bullish stance on the company. On Tuesday, Wood-led Ark had lapped up $3.3 million worth of Tesla shares.
The current tranche of share purchases happened after Tesla CEO Elon Musk announced the <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">removal of inventory discounts</a> on its cars in the U.S., citing the need to simplify the company's complex sales system. 
Musk&#8217;s <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">upcoming visit to India</a>, where he is expected to announce investments between $2 billion to $3 billion, also adds to the excitement surrounding the company&#8217;s future.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38266510/whats-going-on-with-rivian-automotive-shares-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Rivian Automotive Shares Today?</a>
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ETFs

ARKK

ARKQ

ARKW

TSLA

Cathie Wood's Ark Invest Swoops In To Buy $10.3M Worth Of Tesla Shares Amid Downturn In Price

CNBC host Jim Cramer has outlined potential factors that could lead to further market decline, advising investors to be cautious about their buying and selling decisions.
What Happened: Cramer, during his show &#8220;Mad Money,&#8221; on Wednesday, highlighted the possibility of the market continuing its downward trend, CNBC <a href="https://www.cnbc.com/2024/04/17/cramer-explains-what-could-cause-the-market-to-keep-going-down.html">reported</a>. He warned investors against making sudden decisions to buy or sell.
He said, &#8220;If you want to get out, go ahead. But I would say that the time to sell was when the market was going parabolic. The time to buy is when the parabola finishes, comes down dramatically. We don&#8217;t know when that moment will come yet, but at this point, you sure aren&#8217;t buying at the top.&#8221;
The market experienced a decline on Wednesday, with the S&amp;P 500 recording losses for the fourth consecutive session. The day began with a rise in stock prices, but this was followed by a fall, primarily due to losses from major tech companies such as NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Cramer pointed out that many stocks have experienced &#8220;parabolic moves,&#8221; rallying straight up like a parabola and now retracing. He cautioned against aggressive buying, noting that the market is not yet oversold considering its recent performance. He also mentioned that the economy is too strong for the Federal Reserve to consider rate cuts, as some on Wall Street had hoped.
Why It Matters: The recent downturn in the market comes amid <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">concerns about potential rate cuts</a> and escalating tensions in the Middle East. Despite these worries, many experts believe that the bull market will continue, driven by a robust U.S. economy and the potential of artificial intelligence (AI).
Earlier in March, a leading research firm warned that the stock market could be on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37640416/stock-market-could-be-on-brink-of-a-correction-says-analyst-who-doesnt-expect-a-bea">the verge of a correction</a>, despite the ongoing record-breaking spree. While a bear market was not considered imminent, prolonged market enthusiasm could make it vulnerable to potential corrections.
On a more positive note, the stock market&#8217;s long-term bull rally, now in its 11th year, is <a href="https://www.benzinga.com/markets/equities/24/03/37926504/stock-market-could-rally-another-34-by-2026-says-bank-of-america">expected to continue</a>, with the S&amp;P 500 potentially surging by 34% by the end of 2026, according to Bank of America&#8216;s technical strategist, Stephen Suttmeier.
Read Next: <a href="https://www.benzinga.com/insights/options/24/04/38252799/rivian-automotive-unusual-options-activity?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rivian Automotive Unusual Options Activity</a>
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MSFT

Jim Cramer Explains What Could Trigger Further Market Decline: 'If You Want To Get Out, Go Ahead ...'

A coalition of bipartisan cannabis advocates, industry leaders and grassroots organizations mobilized by the Last Prisoner Project (LPP) will convene in the nation&#8217;s capital on April 18, 2024, for a 420 Unity Day of Action. This gathering marks a unified effort to pressure Congress and President Biden to enact comprehensive cannabis reform, including legalization, the <a href="https://www.benzinga.com/markets/cannabis/24/04/38101290/gov-healeys-mega-pardon-for-cannabis-possession-unanimously-approved-by-council" target="_blank" rel="noreferrer noopener">liberation</a> of incarcerated individuals and retroactive relief measures.
Mobilizing An Unprecedented Coalition
Led by prominent figures such as Senator Ron Wyden (D-Oregon) and Representative Earl Blumenauer (D-Oregon), the summit aims to rally support across party lines, denouncing the inherent inequities of <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">cannabis</a> criminalization. Elected officials and grassroots activists alike will converge on Capitol Hill for a series of strategic engagements, from press conferences to lobbying sessions, amplifying the urgent call for reform.
Over 30 organizations, spanning advocacy groups, industry associations and social justice movements, have pledged their support for the cause. Notable participants include the Drug Policy Alliance (DPA), NORML, Veterans Cannabis Coalition and the National Cannabis Industry Association (NCIA), among others. This diverse coalition underscores the broad societal consensus for ending the punitive legacy of cannabis prohibition.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Enough is enough! Join us tomorrow in Washington D.C. for our <a href="https://twitter.com/hashtag/420UnityDay?src=hash&amp;ref_src=twsrc%5Etfw">#420UnityDay</a> and take action by sending your governor and <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@potus</a> a letter urging further progress towards cannabis justice at <a href="https://t.co/Ogvl8xycAg">https://t.co/Ogvl8xycAg</a> <a href="https://t.co/UwojhTJGbW">pic.twitter.com/UwojhTJGbW</a>
&mdash; Last Prisoner Project (@lastprisonerprj) <a href="https://twitter.com/lastprisonerprj/status/1780376506805457345?ref_src=twsrc%5Etfw">April 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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<h3 class="wp-block-heading">National Momentum For Change</h3>
Recent developments, including President Biden&#8217;s acknowledgment of cannabis reform <a href="https://www.benzinga.com/markets/cannabis/24/03/37552483/biden-calls-for-cannabis-reform-in-state-of-the-union-a-historic-first-no-one-should-be-jailed-f" target="_blank" rel="noreferrer noopener">during his State of the Union address</a> and ongoing congressional advocacy, have injected fresh momentum into the movement, <a href="https://www.lastprisonerproject.org/congressional-leaders-and-social-justice-advocates-call-for-cannabis-decriminalization-during-cannabis-summit-in-washington-dc" target="_blank" rel="noreferrer noopener">noted</a> a Last Prisoner Project press release. Furthermore, the White House&#8217;s commitment to expanded pardons and congressional efforts to <a href="https://www.benzinga.com/markets/cannabis/24/01/36632145/reschedule-cannabis-or-abolish-the-dea-says-physician-examining-the-50-year-old-trillion-dollar-">reschedule</a> cannabis signal a potential shift in federal policy.
However, despite significant strides in state-level legalization, tens of thousands remain incarcerated for cannabis-related offenses. As federal lawmakers <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling" target="_blank" rel="noreferrer noopener">contemplate rescheduling cannabis</a>, advocates stress the imperative of full legalization and decriminalization to rectify past injustices and foster equitable access to cannabis.
<h3 class="wp-block-heading">How To Join The Cause</h3>
For those unable to attend the summit, avenues for engagement abound. Supporters are encouraged to reach out to their elected representatives, urging swift action on cannabis reform.
The momentum generated by the 420 Unity Day of Action will extend beyond the summit, culminating in the National Cannabis Festival at the RFK Campus Festival Grounds on April 19th and 20th. Here, advocates will engage in panel discussions and concerts, further advancing the cause of cannabis reform.
Read also: <a href="https://www.benzinga.com/markets/cannabis/24/02/36910583/wu-tang-clan-to-ignite-2024-national-cannabis-festival-a-rally-for-culture-and-reform" target="_blank" rel="noreferrer noopener">Wu-Tang Clan To Ignite 2024 National Cannabis Festival: A Rally For Culture And Reform</a>
As 4/20 approaches and the nation&#8217;s attention turns to Washington, D.C., the cannabis summit heralds a pivotal moment in the quest for justice and equity in cannabis policy.

Cannabis

Politics

Events

Cannabis Summit Set To Shake Up Washington DC: Bipartisan Lawmakers, Industry Leaders Rally For Decriminalization On 420 Day Of Action

Wednesday saw U.S. stocks closing on a downward trend, with the Dow Jones Industrial Average dipping 0.1% to 37,753.31, the S&amp;P 500 falling 0.6% to 5,022.21, and the Nasdaq also concluding the day lower by 1.1% at 15,683.37.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
Taiwan Semiconductor&#8217;s shares dipped by 0.55% to close at $139.03, with an intraday high and low of $142.57 and $137.36 respectively. The company&#8217;s shares traded lower due to ASML Holding N.V. reporting <a href="https://www.benzinga.com/news/24/04/38299207/whats-going-on-with-taiwan-semiconductor-stock">worse than expected</a> results. Taiwan Semiconductor is set to report earnings on Thursday.
Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)
Arm Holdings&#8217; shares fell by 11.99% to close at $107.56. The stock&#8217;s intraday high was $122.68, and the low was $107.01. The shares traded lower in <a href="https://www.benzinga.com/news/24/04/38299189/whats-going-on-with-arm-holdings-stock">sympathy</a> with ASML Holding N.V., which reported worse-than-expected first-quarter results.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>)
Alcoa&#8217;s shares dropped by 1.50% to close at $35.55, with an intraday high and low of $37.48 and $35.21 respectively. The company reported its <a href="https://www.benzinga.com/news/earnings/24/04/38302798/alcoa-stock-climbs-on-q1-results-heres-why">first-quarter financial results</a> after the bell on Wednesday, with quarterly losses of 81 cents per share and revenue of $2.6 billion, beating the $2.56 billion analyst consensus estimate. 
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s shares fell by 1.13% to close at $68.82. The stock&#8217;s intraday high was $70.01, and the low was $68.72. The company <a href="https://www.benzinga.com/markets/equities/24/04/38296674/whats-going-on-with-alibaba-shares-after-launching-logistics-solutions-for-us-smes">introduced its Logistics Marketplace</a>, which led to a slight decrease in its shares.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares dipped by 1.06% to close at $155.45, with an intraday high and low of $158.33 and $153.78 respectively. CEO Elon Musk explained the rationale behind the <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">removal of inventory discounts</a> on its cars in the U.S., citing the need to simplify the company's complex sales system. 
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38257664/delta-flight-returns-to-atlanta-after-takeoff-boeing-757-yawing-aggressively?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Delta Flight Returns To Atlanta After Takeoff: Boeing 757 &#8216;Yawing Aggressively&#8217;</a>
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BABA

Taiwan Semiconductor, ARM Holdings, Alcoa, Alibaba, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

The cryptocurrency market is bracing for a potential storm as Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price hovers around $50,500. A leading analyst has warned that if the price falls to this level, it could trigger over $15 billion in liquidations on Binance (BNB).
What Happened: Cryptocurrency analyst Ali Martinez took to social media platform X to alert the community about the potential for massive liquidations on Binance. 
&#8220;#Bitcoin dropping to $50,500 will trigger over $15 billion in liquidations on #Binance alone!&#8221; Martinez wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> dropping to $50,500 will trigger over $15 billion in liquidations on <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> alone! <a href="https://t.co/9wQTVwprgx">pic.twitter.com/9wQTVwprgx</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1780716502619988142?ref_src=twsrc%5Etfw">April 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Bitcoin Liquidation Update: In the past 24 hours, total liquidations reach $89 million, with long positions at $66.39 million and short positions at $22.61 million. Over the last 4 hours, liquidations amount to $4.44 million, comprising long positions of $1.60 million and short positions of $2.88 million, based on data from Coinglass.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274675/heres-how-much-bitcoin-you-need-to-become-a-millionaire-according-to-michael-saylor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s How Much Bitcoin You Need To Become a Millionaire, According To Michael Saylor</a>
Why It Matters: The recent drop in Bitcoin&#8217;s price has sparked concerns across the cryptocurrency market. Research firm 10x Research recently warned of a potential <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38300304/why-the-bitcoin-dump-prompted-10x-research-to-sell-everything">significant price correction</a> for risk assets, including stocks and crypto, with inflation being the main trigger.
On the other hand, the approval of Bitcoin and Ethereum ETFs in Hong Kong has led to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299618/hong-kongs-bitcoin-and-ethereum-etfs-poised-to-reach-1b-in-assets-bloomberg-analyst-predic">optimistic predictions for the market&#8217;s growth</a>. Bloomberg Senior ETF analyst Eric Balchunas has revised his initial inflow predictions for these ETFs, estimating they will reach $1 billion within two years.
Despite the recent price drop, some industry leaders remain optimistic about Bitcoin&#8217;s future. Venture capitalist Tim Draper <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299864/bitcoin-billionaire-predicts-250-000-btc-price-by-end-of-year-is-it-possible">predicted a $250,000 BTC price</a> by the end of 2024 at the close of 2023. With nearly one-third of 2024 gone, his prediction may not seem as unlikely anymore.
Price Action: Bitcoin&#8217;s current price stands at $61,371, reflecting a modest 0.17% increase over the past 24 hours. Year to date, it boasts a remarkable surge of 38.94%, according to the data from Benzinga Pro.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Image Via Shutterstock 
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Analyst Color

Bitcoin Dropping To This Level Could Trigger Over $15B In Liquidations On Binance, Warns Analyst

The hush money trial of Donald Trump is underway, and the inclusion of two lawyers in the jury has sparked remarks from the ex-president&#8217;s former attorney, Timothy Parlatore, who described the move as &#8220;very unusual&#8221;.
What Happened: Parlatore discussed the unique situation of having lawyers serve on a jury during an interview on CNN&#8217;s &#8220;The Lead with Jake Tapper&#8221; on Wednesday. He pointed out that the presence of lawyers on the jury could be advantageous or disadvantageous, depending on the specifics of the case, <a href="https://thehill.com/regulation/court-battles/4601257-former-trump-attorney-hush-money-trial-jurors-lawyers/">reported</a> The Hill.
The trial, which kicked off in Manhattan on Monday, has so far selected seven jurors from a pool of 96 potential candidates over two days. The chosen jurors include a corporate attorney from Chelsea, Oregon, and a civil litigator from the Upper East Side, North Carolina.
See Also: <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>
Parlatore voiced concern that a lawyer on the jury could hold considerable sway over the rest of the panel. The jury selection process, which is moving faster than expected, is set to continue on Thursday. The trial requires a total of 12 jurors and at least six alternates.
&#8220;The problem with having a lawyer on the jury is that they can be a very strong voice and influence the rest of the panel,&#8221; said the former Trump lawyer.
Former President Trump is on trial for allegedly illegally concealing a hush money payment made to suppress an alleged affair ahead of the 2016 election. He has pleaded not guilty and denied the affair.
Why It Matters: The trial, which began on April 15, has been drawing considerable attention, with the <a href="https://www.benzinga.com/general/social-media/24/04/38282616/trump-trial-gets-7-jurors-11-to-go-their-old-social-media-posts-take-center-stage-in-court-e">jury selection process</a> and the social media accounts of prospective candidates taking center stage.
The trial is expected to last at least six weeks and has already <a href="https://www.benzinga.com/general/politics/24/04/38279176/trump-hush-money-trial-draws-reaction-from-congressman-talk-show-hosts-worse-than-anything-richa">sparked reactions</a> from congressmen and talk show hosts. 
On the first day of the trial, Trump argued that he was being <a href="https://www.benzinga.com/general/politics/24/04/38261008/donald-trump-argues-political-prosecution-before-jury-selection-in-new-york-trial-judge-not-goin">politically prosecuted</a>, a claim the judge did not accept.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/04/38286236/once-trumper-scaramucci-warns-re-electing-ex-president-would-result-in-american-fascism-and-be-very?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Once-Trumper&#8217; Scaramucci Warns Re-Electing Ex-President Would Result In &#8216;American Fascism&#8217; And Be &#8216;Very Bad&#8217; For Business: &#8216;He Wants To Be North American Autocrat&#8217;</a>
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General

Former Trump Attorney Says 'Very Unusual' To Have Lawyers On The Jury: 'They Can Be A Very Strong Voice'

House Speaker Mike Johnson (R-La.) is facing criticism from conservatives due to the lack of border security provisions in his latest foreign aid proposal.
What Happened: Johnson dismissed the criticism on Wednesday, attributing the lack of action to Senate and White House Democrats. He stated, &#8220;Some of my colleagues want the Speaker of the House to have a magic wand. If we could close the border ourselves, we would have done it a long time ago,&#8221; <a href="https://thehill.com/homenews/house/4601412-johnson-some-republicans-want-speaker-to-have-a-magic-wand/">reported</a> The Hill.
The Speaker&#8217;s comments came after the release of legislative text for three bills that would combine military assistance to Ukraine, Israel, and allies in the Indo-Pacific with humanitarian aid for Gaza. These bills, however, do not include a border security measure, a reversal from Johnson&#8217;s previous indication that aid for Ukraine would be tied to such measures.
Despite Johnson&#8217;s efforts, several conservatives criticized his move, accusing him of making bipartisan deals with President Joe Biden. Johnson defended his actions, pointing to the House&#8217;s passage of H.R. 2 last year and the Democratic-controlled Senate&#8217;s decision not to move it forward.
Johnson also announced plans to bring a border bill, titled the End The Border Catastrophe Act, to the House floor later this week. However, he acknowledged that the GOP conference may not get everything they want due to their slim majority.
The Speaker&#8217;s position has been further threatened by Rep. Marjorie Taylor Greene (R-Ga.), who introduced a motion to vacate Johnson last month. Despite this, several GOP members have voiced opposition to removing Johnson, and multiple Democrats have indicated they would support the Speaker depending on his handling of Ukraine aid.
See Also: <a href="https://www.benzinga.com/news/24/04/38240111/unlike-his-behavior-in-e-jean-carroll-case-donald-trump-is-going-to-have-sit-there-in-upcoming-crimi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Unlike His Behavior In E. Jean Carroll Case, Donald Trump Is &#8216;Going To Have Sit There&#8217; In Upcoming Criminal Case, Says Ex-Prosecutor</a>
Why It Matters: The criticism of Johnson&#8217;s foreign aid proposal comes amid an <a href="https://www.benzinga.com/news/24/04/38240401/marjorie-taylor-greene-is-trying-to-oust-speaker-mike-johnson-except-she-has-no-gop-allies">ongoing campaign</a> by Greene to unseat him. Her efforts, however, lack momentum and support.
Rep. Thomas Massie (R-Ky.) has <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">joined</a> Greene&#8217;s campaign. Amid these developments, former President Donald Trump has <a href="https://www.benzinga.com/news/24/04/38230714/trump-throws-support-behind-mike-johnson-amid-marjorie-taylor-greenes-ouster-threat-hes-doing-a-very">expressed his support</a> for Johnson. The outcome of these political maneuvers remains uncertain.
Photo via Shutterstock.
Read Next: <a href="https://www.benzinga.com/news/24/04/38241519/mark-cubans-288m-wire-transfer-to-irs-a-veiled-jab-at-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban&#8217;s $288M Wire Transfer To IRS: A Veiled Jab At Trump?</a>
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Mike Johnson On Border Criticism: 'Some Of My Colleagues Want The Speaker Of The House To Have A Magic Wand'

In a recent public address, President Joe Biden showed deep emotion while discussing his family&#8217;s military service and the derogatory comments made by Donald Trump about service members.
What Happened: Speaking to a crowd of union workers, Biden brought up Trump&#8217;s 2018 refusal to visit American gravesites during a trip to Paris, where Trump reportedly referred to the fallen soldiers as &#8216;suckers&#8217; and &#8216;losers&#8217;. &#8220;That man doesn't deserve to have been the commander in chief for my son, my uncle,&#8221; Biden said, referring to Beau Biden and Ambrose Finnegan, both military veterans, <a href="https://www.nbcnews.com/politics/2024-election/biden-chokes-talking-beau-trumps-remarks-service-members-rcna148274">reported</a> NBC News.
These comments were confirmed by former White House chief of staff John Kelly. The Trump campaign, however, denies these allegations, with national press secretary Karoline Leavitt calling Biden&#8217;s claims an &#8220;old and tired lie,&#8221; according to the report.
See Also: <a href="https://www.benzinga.com/news/24/04/38286236/once-trumper-scaramucci-warns-re-electing-ex-president-would-result-in-american-fascism-and-be-very?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Once-Trumper&#8217; Scaramucci Warns Re-Electing Ex-President Would Result In &#8216;American Fascism&#8217; And Be &#8216;Very Bad&#8217; For Business: &#8216;He Wants To Be North American Autocrat&#8217;</a>
At a campaign rally in Scranton, Pennsylvania, Biden expressed his outrage at Trump&#8217;s remarks, asking, &#8220;Who the hell does he think he is?&#8221; Biden was in Pittsburgh as part of a three-city tour of Pennsylvania.
Why It Matters: These remarks come amid a <a href="https://www.benzinga.com/news/24/04/38239577/trump-vs-biden-one-candidates-lead-narrows-to-slim-margin-over-other">tightening race</a> between Biden and Trump for the upcoming election, with recent polling data showing Trump holding a slim lead over Biden.
Trump&#8217;s alleged disrespect for the military has been a point of contention in the past. Earlier this year, Nikki Haley, a GOP presidential primary contender, <a href="https://www.benzinga.com/news/24/02/37085931/trump-not-qualified-to-be-president-says-nikki-haley-citing-disrespect-for-the-military-i-dont-trust">expressed her disapproval</a> of Trump's comments about her husband, a deployed military officer, and voiced her lack of trust in Trump's ability to protect the military.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38242468/former-trump-aide-scaramucci-urges-keeping-ex-president-as-far-from-the-white-house-as-possible-afte?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FFormer Trump Aide Scaramucci Urges Keeping Ex-President &#8216;As Far From The White House As Possible&#8217; After Iran&#8217;s Attack On Israel: &#8216;Protect Our 76-Year Ally&#8217;</a>
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Teary Biden Slams Trump For Remarks On Service Members: 'Who The Hell Does He Think He Is?'

In a recent House Oversight Committee hearing, Rep. Jared Moskowitz (D-Fla.) took a stand against Rep. Marjorie Taylor Greene (R-Ga.) for her baseless claims about the prevalence of Nazism in Ukraine. This narrative is often echoed by Russian President Vladimir Putin.
What Happened: Moskowitz criticized Greene&#8217;s attempts to portray Ukrainians as Nazis and compare Ukraine&#8217;s government to Nazi Germany during a hearing titled &#8220;Defending America from the Chinese Communist Party's Political Warfare,&#8221; <a href="https://thehill.com/homenews/house/4601264-moskowitz-confronts-greene-on-ukraine-nazi-remarks/">reported</a> The Hill.
Moskowitz, a descendant of Holocaust survivors, chastised Greene for her &#8220;disgusting behavior, using Nazis as propaganda.&#8221; He encouraged her to visit the Holocaust Museum to gain a better understanding of the horrors committed by the Nazis.
He also disputed Greene&#8217;s unfounded allegations about concentration camps and other Nazi-like atrocities in Ukraine, asserting, &#8220;They're not trying to erase a people, the Ukrainians.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/04/38286236/once-trumper-scaramucci-warns-re-electing-ex-president-would-result-in-american-fascism-and-be-very?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Once-Trumper&#8217; Scaramucci Warns Re-Electing Ex-President Would Result In &#8216;American Fascism&#8217; And Be &#8216;Very Bad&#8217; For Business: &#8216;He Wants To Be North American Autocrat&#8217;</a>
Previously, Greene had shared several news articles and photos suggesting the existence of neo-Nazis in Ukraine. She voiced her worry about the alleged misinformation regarding &#8220;the Nazis in Ukraine and their recruitment efforts that go all around the world.&#8221;
Historian Timothy Snyder, a specialist in the Holocaust and Eastern Europe, refuted Greene&#8217;s claims, stating that the influence of Nazis in Ukrainian politics was minimal. He suggested that concerns about fascism should be directed towards Russia instead.
Why It Matters: Greene&#8217;s controversial remarks are not new. In March 2024, she had a <a href="https://www.benzinga.com/news/24/03/37525135/marjorie-taylor-greene-tells-former-bbc-host-to-f-off-at-trumps-mar-a-lago">heated exchange</a> with British journalist Emily Maitlis at Donald Trump's Mar-a-Lago resort. Maitlis questioned Greene about her support for conspiracy theories, leading to a tense confrontation.
Greene is currently <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">engaged in an effort</a> to oust Speaker Mike Johnson (R-La.) over his decision to bring multiple foreign aid bills to the floor, including to Ukraine.
Photo by lev radin on Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38263998/trumps-niece-says-ex-presidents-mandatory-courtroom-presence-will-give-jury-front-row-seat-of-his-ba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President&#8217;s Mandatory Courtroom Presence Will Give Jury Front-Row Seat Of His Bad Behavior: &#8216;Donald Is Finally Confronting His Criminal Charges&#8217;</a>
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Marjorie Taylor Greene Confronted By Moskowitz Over Nazis In Ukraine Claims: 'Disgusting Behavior'

"Our strike threat put them in a corner," said Austin Williams, delivery driver and member of United Food and Commercial Workers (UFCW) Local 324. The union came to an agreement with Eaze/Stachs in a labor <a href="https://www.benzinga.com/markets/cannabis/24/04/38282181/eaze-delivery-workers-threaten-first-cannabis-strike-of-2024-amid-ongoing-negotiations">conflict </a>that has lingered for nine months. 
Union representatives reached an agreement via a bargaining committee made up of Eaze employees represented by UFCW locals 5, 135, 324, and 770. The agreement guarantees better pay, a fair process for reimbursement of the costs of operating their vehicles, work hours and a multitude of enforceable rights and protections on the job. The committee is recommending that all implied workers sign the offer, which is expected to happen in the coming days.
"We felt we needed to reject the company&#8217;s initial offer, and an overwhelming majority of Eaze members agreed, which brought the company back to the table," said Giovanna Sanchez-Esquival, a driver at Element 7 in South San Francisco. Conflict duration is explained by this and other previous rejections, which led to a halt in negotiations in the past March.
This agreement comes at a time when cannabis delivery company Eaze is facing hurdles on multiple fronts, including a <a href="https://www.benzinga.com/markets/cannabis/23/08/33478363/cannabis-delivery-company-faces-legal-battle-allegations-of-fraud-unlawful-operations">lawsuit </a>brought by former partners Green Dragon. 
<h3 class="wp-block-heading">Unions And The Cannabis Industry</h3>
This outcome sets a new landmark for labor rights in the cannabis industry, which due to an increase in labor demand has been fertile territory for unionization in recent years.
Several other successful <a href="https://www.benzinga.com/markets/cannabis/23/10/35403268/unionization-grows-ayr-wellness-nevada-workers-choose-ufcw-representation">unionizing efforts</a> were undertaken across the country over major companies during 2023 such as Cannabist Company Holdings Inc <a href="https://www.benzinga.com/quote/cbstf">CBSTF</a> in <a href="https://www.benzinga.com/markets/cannabis/23/10/35163610/unionization-efforts-in-cannabis-continue-workers-at-new-jersey-cultivation-site-join-ufcw-local">New Jersey</a>, Cresco Labs <a href="https://www.benzinga.com/quote/crlbf">CRLBF</a> in <a href="https://www.benzinga.com/markets/cannabis/23/01/30552367/are-teamsters-just-warming-up-nearly-400-cannabis-workers-joined-the-union-since-jan-1st">Illinois</a>, Grassdoor in <a href="https://www.benzinga.com/markets/cannabis/23/03/31477358/workers-at-two-more-cannabis-companies-unionize-with-teamsters-and-ufcw">California</a> and Verano Holdings Corp <a href="https://www.benzinga.com/quote/vrnof">VRNOF</a> in <a href="https://www.benzinga.com/markets/cannabis/22/08/28566870/veranos-firing-of-union-supporters-flops-zen-leaf-chicago-workers-join-teamsters-local-777">Chicago</a>.
Apart from UFCW and Teamsters, both trespassing a million associates, there is a plethora of smaller representations among the cannabis industry workers, some of which have been deemed as management-aligned <a href="https://www.benzinga.com/markets/cannabis/23/11/35557492/more-cannabis-workers-tricked-by-alleged-management-aligned-or-fake-marijuana-unions">fake unions</a> by industry workers.

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

CRLBF

VRNOF

Unionized Cannabis Industry Workers Threat Is Off, Eaze Conflict Reaches Agreement

Florida stands on the brink of a significant shift with Amendment 3, a proposal that could legalize the use of cannabis for adults over the age of 21.
At the Benzinga Cannabis Capital Conference&nbsp;on Wednesday,&nbsp;a distinguished panel comprising Brady Cobb, CEO/founder of Sunburn Cannabis,&nbsp;Richard Proud, CEO of iAnthus,&nbsp;Dur&eacute;e Ross, president &amp; CEO of Dur&eacute;e &amp; Company&nbsp;and Cory Azzalino, CEO of Eaze and Green Dragon, engaged in a critical discussion on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin">Amendment 3</a>.
This session delved into the potential ramifications of legalizing adult-use cannabis in Florida, offering valuable insights into the state&#39;s legislative landscape and public sentiment towards this transformative initiative.
<img alt="2231044_cccfloridagif_v2_031124-27_0.gif" src="https://www.benzinga.com/files/u503488/2231044_cccfloridagif_v2_031124-27_0.gif" style="height:528px; width:633px" />
<h3>Insights From The Panel Discussion</h3>
Moderated by Dustin Eide, CEO of CanPay, the conversation delved into <a href="https://www.benzinga.com/topic/florida-cannabis">Florida&#39;s</a> journey toward <a href="https://www.benzinga.com/markets/cannabis/24/04/38102205/desantis-furious-as-legal-weed-abortion-rights-move-toward-november-ballot-calls-amendments-radi">potentially legalizing recreational cannabis</a>.
The panelists shared their unique insights on the state&#39;s legislative and public sentiment landscape, emphasizing the amendment&#39;s potential to revolutionize the cannabis industry in <a href="https://www.benzinga.com/topic/florida-cannabis">Florida</a>.
They discussed the strategic moves and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/09/34616289/floridas-cannabis-market-shows-robust-growth-analyst-examines-whos-on-the-rise-amid">considerations for businesses</a> in anticipation of the amendment&#39;s passage, highlighting the importance of readiness for either outcome.
<h3>A $2 Billion Medical Marijuana Market</h3>
Cobb, with his extensive background in cannabis legislation and lobbying, highlighted the community&#39;s collective efforts, particularly praising Kim Rivers for her pivotal role in this journey.
&quot;We&#39;re built for a medical market, and it&#39;s still a $2 billion medical market right now... We&#39;re growing new patients at 28% month over month.&quot; Cobb&#39;s insights underline the significance of readiness and adaptability in the evolving cannabis industry.
The conversation also covered operational strategies for businesses, with insights from Proud on the importance of innovation and market differentiation in anticipation of adult-use legalization.
Meanwhile, Ross emphasized the ongoing necessity of robust marketing and public relations efforts to navigate the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">evolving landscape</a>.
With a mix of optimism and caution, the speakers underscored the significance of Amendment 3, not just for Florida but as a potential trendsetter for cannabis legislation <a href="https://www.benzinga.com/markets/cannabis/24/03/37521749/unpacking-the-58b-cannabis-market-boom-bdsa-forecasts-for-2028">across the United States</a>.
<h3>Contingency Planning For Amendment 3</h3>
The panelists discussed the scenario if Amendment 3 does not pass, emphasizing the importance of being prepared for all outcomes.
They suggested that the industry would remain robust due to Florida&#39;s strong <a href="https://www.benzinga.com/markets/cannabis/24/01/36880346/new-zoning-regulations-floridas-cannabis-donors">medical cannabis market</a>, but acknowledged that it would be a setback for expansion plans.
There was a consensus on the resilience of the market and businesses, yet they noted it would necessitate a strategic pivot and possibly impact the number of operational stores.
Azzalino highlighted resilience in the face of potential setbacks, stating, &quot;No matter what, the operators existing within the <a href="https://www.benzinga.com/topic/florida-cannabis">Florida medical market</a> operate fairly profitably... So, I don&#39;t think you know it would certainly be a setback... but irrespective, it&#39;s a phenomenal medical market.&quot;
Photo by&nbsp;<a href="https://unsplash.com/@climatechangevi?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Karl Callwood</a>&nbsp;on&nbsp;<a href="https://unsplash.com/photos/the-flag-of-the-state-of-florida-flying-in-the-wind-k_sRKq7nHQM?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Unsplash</a>.&nbsp;

Legal

Exclusives

It's On The Ballot! The Future Of Adult-Use Cannabis In Florida, What's The Contingency Plan If Legalization Fails?

BENFW

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

BENF

Real Madrid isn&#39;t just a football club,&nbsp;it&#39;s a gateway to Madrid&#39;s eclectic blend of sports, leisure&nbsp;and culinary delights. In the shadows of the iconic Santiago Bernab&eacute;u Stadium, the Spanish capital thrives with a vibrant cannabis culture, seamlessly blending with the city&#39;s rich history and lively streets.
For those drawn to Madrid for its football prestige, the city offers an unexpected companion to the Real Madrid experience&mdash;exclusive cannabis clubs that provide a unique prelude to exploring Madrid&#39;s culinary scene.
Cannabis, when responsibly enjoyed, serves as the perfect introduction to the city&#39;s famed tapas, allowing for a richer, more immersive tasting journey.
<h3>Key Regulations For Tourists</h3>
These clubs offer a safe and regulated environment for <a href="https://www.benzinga.com/cannabis">cannabis</a> consumption, blending the worlds of sport and leisure in an unexpected yet harmonious way.
<ul>
<li>Membership Requirement: Entry into cannabis clubs is restricted to members. <a href="https://www.leafly.com/news/lifestyle/will-barcelona-be-the-new-amsterdam-what-tourists-should-know">Tourists wishing to access</a> these clubs need a valid ID (passport or driver&#39;s license) and often a referral or sponsorship from an existing member​.</li>
<li>Decriminalized, Yet Regulated: While individual cannabis use and cultivation for personal consumption are decriminalized, there are city-specific regulations. For example, Madrid and Barcelona have different rules regarding personal cultivation​.</li>
<li>Public Consumption Fines: The sale and distribution of cannabis remain illegal, and taking it into public spaces is prohibited. Violations can lead to fines.</li>
<li>Club Operation Guidelines: Many clubs face advertising restrictions, operating partially underground to comply with Spain&#39;s strict laws. This makes them harder to find, often relying on word-of-mouth for promotion.</li>
<li>Consumer Advice: Due to the cautious legal framework, tourists are advised to consume <a href="https://www.benzinga.com/cannabis">cannabis products</a> within&nbsp;the clubs. Police have been known to search individuals outside clubs, so it&#39;s recommended not to carry cannabis products publicly.</li>
</ul>
<h3>Cannabis Club Near Santiago Bernab&eacute;u</h3>
Spain&#39;s cannabis clubs represent a unique blend of social clubs and cultivation cooperatives, thriving under the country&#39;s relatively tolerant policies. However, the experience for tourists can vary, with entry often dependent on local connections and club-specific rules.
Just a stone&#39;s throw from the iconic Santiago Bernab&eacute;u Stadium, the heart of Madrid&#39;s football fervor, lies a gateway to some of the city&#39;s most discreet yet welcoming <a href="https://www.benzinga.com/cannabis">cannabis clubs</a>.
Known for its funky interior design and quality products, <a href="https://420collectivemadrid.com/">420 Collective Madrid</a> is conveniently located within a 15-minute walk from Santiago Bernab&eacute;u Stadium, making it a perfect stop for Real Madrid fans looking to <a href="https://420collectivemadrid.com/en/420-madrid/">explore the city&#39;s&nbsp;cannabis scene</a>.
<h3>Other Noteworthy Cannabis Clubs In Madrid</h3>
<ul>
<li>Gasolina Social Club: Situated in the city center, this club is celebrated for its quality marijuana products and discreet location. <a href="https://spainweedguide.com/gasoline-social-club-madrid/">Gasolina Social Club</a> boasts a variety of cannabis strains and is a must-visit for enthusiasts in the capital.</li>
<li>Green Shot Cannabis Social Club: Offers a two-level space with a psychedelic vibe, complete with a bar stocked with snacks and drinks. It&#39;s known for its comfortable environment and a <a href="https://spainweedguide.com/green-shot/">wide selection of cannabis</a>.</li>
<li>Los Secretos De Maria Cannabis Club: Located on a quiet street, this club is praised for its <a href="https://spainweedguide.com/los-secretos-de-maria/">peaceful environment</a> and premium cannabis selection, providing a top-notch experience for its members.</li>
<li>Desv&aacute;n Madrid - Salamanca: A cozy and well-decorated club aiming for comfort and a welcoming atmosphere. Known for its friendly staff and excellent service, it&#39;s located in a convenient area and is easy to find.</li>
<li>Estigia Aso - Fuencarral-El Pardo: Offers a tranquil and secure environment with a variety of cannabis strains. Besides, it organizes activities like yoga and football viewings. It&#39;s known for its highly trained staff providing top-notch advice, especially for therapeutic users.</li>
<li>Verdes Maravillas Club de Fumadores - Justicia: Located near Gran V&iacute;a, this club provides a comfortable and cozy space for enjoying high-quality recreational and medicinal marijuana, promoting a relaxing experience and idea exchange on cannabis.</li>
</ul>
<a href="https://www.salir.com/las-mejores-asociaciones-cannabicas-de-madrid-art-1815.html">Madrid&#39;s cannabis clubs</a> are exclusive and <a href="https://cannabis-madrid.com/">require membership</a> due to local regulations. It&#39;s important to understand the rules before joining, as consumption is only allowed in private places like these clubs or at home, ensuring a safe and enjoyable experience for everyone.
&nbsp;
Photo: AI-Generated.&nbsp;

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