Latest news for Nexus Uranium (OTC:GIDMF) Stock

Nexus Uranium Corp is a multi-commodity development company focused on advancing the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia, and a package of gold claims in the Yukon.

NEXUS URANIUM CORP by Nexus Uranium Corp.

Nexus Uranium Corp

Wells Fargo analyst Donald Fandetti upgrades Annaly Capital Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLY#NYSE">NLY</a>) from Equal-Weight to Overweight and raises the price target from $19 to $23.

News

Upgrades

Price Target

Analyst Ratings

Wells Fargo Upgrades Annaly Capital Management to Overweight, Raises Price Target to $23

The most oversold stocks in the financials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Netcapital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>)</h3>
<ul>
<li>On Sept. 16, Netcapital posted a first-quarter loss of $5.10 per share. &#8220;This was a challenging quarter for us, driven primarily by a decrease in revenues for services that we provide in exchange for equity securities,&#8221; said Martin Kay, CEO of Netcapital Inc. &#8220;However, we have taken what we believe are important steps to lay the groundwork for future opportunities.&#8221; The company's stock fell around 40% over the past five days and has a <a href="https://www.benzinga.com/quote/GTE">52-week low of $1.54</a>.</li>
<li>RSI Value: 29.24</li>
<li>NCPL Price Action: Shares of Netcapital fell 5.2% to close at $1.63 on Thursday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">latest NCPL news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="845" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045714/image-158.png" alt="" class="wp-image-557860" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045714/image-158.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045714/image-158-300x279.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045714/image-158-768x716.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
<h3 class="wp-block-heading">Reliance Global Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>)&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Sept. 9, Reliance Global Group provided an update on the pending acquisition of Spetner Associates, including a significant reduction in the upfront cash payment required to close the transaction. The company's stock fell around 11% over the past five days. It <a href="https://www.benzinga.com/quote/VIVK">has a 52-week low</a> of $2.12.</li>
<li>RSI Value: 27.09</li>
<li>RELI Price Action: Shares of Reliance Global fell 5.8% to close at $2.45 on Thursday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">trend in RELI stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="917" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045734/image-159.png" alt="" class="wp-image-557861" style="width:656px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045734/image-159.png 917w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045734/image-159-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045734/image-159-768x697.png 768w" sizes="(max-width: 917px) 100vw, 917px" /></a></figure>
<h3 class="wp-block-heading">Kaspi.kz AO &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>)</h3>
<ul>
<li>On Sept. 19, Culper Research issued a report on the company. The company's shares fell around 21% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/KSPI">low of $85.02</a>.</li>
<li>RSI Value: 18.65</li>
<li>KSPI Price Action: Shares of Kaspi.kz AO fell 16.1% to close at $99.81 on Thursday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">breakout in KSPI shar</a>es. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="883" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045802/image-160.png" alt="" class="wp-image-557862" style="width:642px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045802/image-160.png 883w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045802/image-160-300x286.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20045802/image-160-768x732.png 768w" sizes="(max-width: 883px) 100vw, 883px" /></a></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40952252/nvidia-tesla-rally-as-dow-s-p-500-surge-to-fresh-highs-after-fed-cuts-rates-fear-index-remains-in-g">Nvidia, Tesla Rally As Dow, S&amp;P 500 Surge To Fresh Highs After Fed Cuts Rates: Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Long Ideas

Pre-Market Outlook

Markets

Trading Ideas

KSPI

NCPL

RELI

Top 3 Financials Stocks That May Rocket Higher This Quarter

RBC Capital analyst Andrew Wong reiterates Nutrien (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) with a Outperform and maintains $60 price target.

Reiteration

RBC Capital Reiterates Outperform on Nutrien, Maintains $60 Price Target

The Nasdaq 100 closed higher by around 2.5% during Thursday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Bentley Systems</h3>
<ul>
<li>The Trade: Bentley Systems, Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>) Chief Product Officer Michael M Campbell <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 4,578 shares</a> at an average price of $47.27. The insider received around $216,416 from selling those shares.</li>
<li>What's Happening: On Sept. 16, Rosenblatt analyst Blair Abernethy maintained Bentley Systems with a Buy and maintained a $62 price target.</li>
<li>What Bentley Systems Does: Bentley Systems is a software vendor that caters to engineers, architects, constructors, and geospatial professionals by enabling design, modeling, simulation and project, and data management of infrastructure assets.</li>
</ul>
<h3 class="wp-block-heading">Clean Harbors</h3>
<ul>
<li>The Trade: Clean Harbors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLH#NYSE">CLH</a>) Director Lauren States <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 309 shares</a> at an average price of $244.09. The insider received around $75,424 from selling those shares.</li>
<li>What's Happening: On July 31, Clean Harbors reported better-than-expected second-quarter financial results and raised its FY24 adjusted EBITDA guidance.</li>
<li>What Clean Harbors Does: Clean Harbors Inc is an environmental and industrial services provider.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40952252/nvidia-tesla-rally-as-dow-s-p-500-surge-to-fresh-highs-after-fed-cuts-rates-fear-index-remains-in-g">Nvidia, Tesla Rally As Dow, S&amp;P 500 Surge To Fresh Highs After Fed Cuts Rates: Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Short Ideas

Insider Trades

Bentley Systems And 1 Other Stock Executives Are Selling

Biotech

General

Novo Nordisk Reports Results From Phase 2a Trial Of Monlunabant In Obesity, Showing Significant Weight Loss And Plans Phase 2b Trial In 2025

Wells Fargo analyst Donald Fandetti upgrades AGNC Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>) from Equal-Weight to Overweight and raises the price target from $10 to $12.

AGNC

Wells Fargo Upgrades AGNC Investment to Overweight, Raises Price Target to $12

LAES

SEALSQ Integrates Internet of Payment In IoT-Enabled Semiconductors

On CNBC's &#8220;<a href="https://www.benzinga.com/topic/mad-money-lightning-round">Mad Money Lightning Round</a>,&#8221; Jim Cramer recommended buying Viking Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>). &#8220;This is a really fine company, and it will do well for multiple years because they have many <a href="https://www.benzinga.com/quote/VKTX/news">ships coming in,&#8221; he added.</a>
On Sept. 11, JPMorgan analyst Hardik Parikh initiated coverage on Viking Therapeutics with an Overweight rating and a December 2025 price target of $80, which implies a potential 45% upside from its current price of $54.65.
Gentex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) is &#8220;too closely related to autos, and autos have been hurt so bad. And I don't see a quick turn. We're going to need several Fed rate cuts before they turn,&#8221; Cramer said.
On July 26, the company reported second-quarter earnings per share of 37 cents, but it missed the street view of 52 cents. Quarterly sales of $572.93 million missed the analyst consensus of $622.79 million.
The Mad Money host said Cadre Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDRE#NYSE">CDRE</a>) is a &#8220;good simple story.&#8221;
On Aug. 9, Cadre Hldgs reported quarterly earnings of 31 cents per share which beat the analyst consensus estimate of 27 cents per share. The company reported quarterly sales of $144.31 million which beat the analyst consensus estimate of $142.05 million.
&#8220;Something's the matter with Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>),&#8221; Cramer said. &#8220;I want to know what's wrong.&#8221;
On Sept. 19, Celsius Holdings appointed Hans Melotte to the company&#8217;s Board of Directors.
Price Action:
<ul>
<li>Viking shares gained 5.8% to settle at $68.16 on Thursday.</li>
<li>Gentex shares gained 1.8% to close at $29.82 during the session.</li>
<li>Cadre shares gained 2.4% to close at $37.36 during Thursday's session.</li>
<li>Celsius shares fell 0.6% to settle at $34.07 on Thursday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40948972/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>

Media

CDRE

CELH

GNTX

VKTX

Jim Cramer: Viking Therapeutics Has 'Many Ships Coming In'

Scotiabank analyst Andres Coello downgrades Telecom Argentina (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEO#NYSE">TEO</a>) from Sector Perform to Sector Underperform and raises the price target from $5.7 to $6.1.

Downgrades

Telecom Argentina Stet - France Telecom S.A.

Scotiabank Downgrades Telecom Argentina to Sector Underperform, Raises Price Target to $6.1

As the cannabis and hemp industries continue to expand, the regulation of hemp-derived products, such as Delta-8 THC, has become a focal point of debate. Pablo Zuanic, a highly-respected equity analyst following the cannabis and psychedelics industries and an upcoming speaker at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Captial conference</a>, addressed the future of hemp derivatives during a recent interview. 
With evolving state regulations and increasing market share, Zuanic said that these products are becoming a permanent part of the industry.
<h3 class="wp-block-heading">Hemp's Growing Role in the Market</h3>
Hemp-derived products have rapidly gained popularity, leading to a highly fragmented market with various players across the supply chain. Zuanic explained the widespread presence of hemp derivatives in the U.S. market. "Hemp derivatives are here to stay," he said. He described the hemp industry as "a very democratic industry, a very competitive capitalist industry" due to its diverse components, including farmers, processors, and manufacturers.
Although hemp-derived products like Delta-8 THC were not originally intended to become such a large part of the market under the 2018 Farm Bill, Zuanic noted that these products have taken on a significant role. "It's not a small little loophole. It's a big thing. It's a big industry," he said, emphasizing the unexpected growth of the hemp derivatives market.
<h3 class="wp-block-heading">Regulation Is on the Horizon</h3>
While hemp-derived products continue to thrive, Zuanic highlighted the growing need for regulatory oversight. He pointed to the current patchwork of state regulations, with some states attempting to enforce stricter controls on producing and selling hemp products. For instance, Florida's governor vetoed a ban on hemp derivatives, but the state still enforces regulations around testing and packaging.
Zuanic said that the disparity in regulations between the hemp and cannabis industries has created an uneven playing field. "It's not a level playing field with the cannabis industry," he said, pointing out how cannabis businesses face much stricter federal and state regulations. 
Zuanic believes that as regulation evolves, both industries will be able to coexist in a more regulated environment. Over the next four years, regulations will probably be established to allow both industries to coexist, he added.
<h3 class="wp-block-heading">A Long-Term Outlook</h3>
As the market for hemp-derived products matures, it is clear that these products will continue to play a major role in the cannabis space. Zuanic's insights offer a realistic view of the industry's future, where hemp derivatives are more tightly regulated but remain an important market segment.
With Zuanic set to speak at the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Chicago on October 8-9, his thoughts on hemp and cannabis regulation will likely inform discussions among industry leaders about how the two markets can evolve together.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly from top executives, investors, advocates, and policymakers at the 19th <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference </a>in Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40949093/cannabis-multi-state-operator-ayr-wellness-seeks-new-ceo-after-david-gouberts-departure-next-pha">Cannabis Multi-State Operator Ayr Wellness Seeks New CEO After David Goubert&#8217;s Departure: &#8216;Next Phase Of Growth&#8217; Coming?</a></li>
</ul>
Image: Shutterstock

Cannabis

Hemp-Derived Products Like Delta-8 THC Are 'Here To Stay,' Says Analyst

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">relatively flat in the premarket session on Friday.</a>
The Chinese EV maker has denied rumors about plans to take over the Audi Brussels car plant in Vorst, reported CnEV Post.
Yesterday, NIO was in the headlines after media reports emerged that the NIO delegation visited the Vorst plant in recent weeks and working on a bid to <a target="_blank" href="https://www.benzinga.com/news/24/09/40935394/chinese-ev-maker-nio-eyes-audis-brussels-plant-amid-european-expansion-report" rel="noreferrer noopener">submit to Audi parent Volkswagen by next Monday.</a>
This was&nbsp;reported&nbsp;by the Belgian newspaper&nbsp;De Tijd. Belgium-based&nbsp;D&#8217;Ieteren is also interested in the plant, the report said.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40946478/chinas-nio-says-40-of-its-store-managers-are-ex-tesla" rel="noreferrer noopener">China&#8217;s NIO Says 40% Of Its Store Managers Are Ex-Tesla</a>
These speculations generated significant discussion, but the company has clarified that it has no intentions to pursue such a takeover.
Audi&#8217;s parent company, Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLKAF#OTC">VLKAF</a>), has reportedly decided to cease car production in Vorst after the last Q8 e-tron electric SUV is completed next year.
NIO stated that it had no intentions of taking over the Audi plant, with founder, chairman, and CEO William Li emphasizing that the company was cautious about investing in fixed assets, aside from battery swap stations, CnEV report noted.
CnEV quoted Li as saying, &#8220;How can NIO afford a factory that Audi can&#8217;t afford? (The rumors) are groundless.&#8221;
In Europe, NIO&#8217;s vehicles are presently offered in Norway, Germany, the Netherlands, Sweden, and Denmark, but the company has not initiated sales in Belgium.
Price Action: NIO shares are trading lower by 0.56% to $5.370 premarket at last check Friday.
Photo by Sundry Photography on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40925180/teslas-chinese-competitor-nio-begins-deliveries-of-new-es8-in-europe-amid-eu-tariff-concerns-rep" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Chinese Competitor NIO Begins Deliveries Of New ES8 In Europe Amid EU Tariff Concerns: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Movers

VLKAF

VWAGY

NIO Denies Audi Plant Takeover Rumors: Report

Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) reported weaker-than-expected first-quarter <a href="https://www.benzinga.com/news/earnings/24/09/40943086/darden-misses-q1-earnings-estimates-partners-with-uber-for-delivery-expansion">financial results on Thursday</a>.
The company reported adjusted earnings per share of $1.75, missing the analyst consensus estimate of $1.83. Quarterly sales of $2.76 billion missed the street view of $2.80 billion.
"While we fell short of our expectations for the first quarter, I firmly believe in the strength of our business," said Darden President &amp; CEO Rick Cardenas.
Darden's directors have approved a quarterly cash dividend of $1.40 per share on the company's outstanding common stock. This dividend will be paid on November 1 to shareholders, as recorded as of the close of business on October 10.
Darden's shares gained 8.3% to close at $172.27 on Thursday.
These analysts made changes to their price targets on Darden following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58b05502b85e93000174c0ed/andrew-charles">TD Cowen analyst Andrew Charles</a> maintained Darden with a Hold and raised the price target from $150 to $165.</li>
<li>Bernstein analyst Danilo Gargiulo downgraded the stock from Outperform to Market Perform and slashed the price target from $190 to $180.</li>
<li>Stephens &amp; Co. analyst Jim Salera maintained Darden with an Equal-Weight and raised the price target from $159 to $164.</li>
<li><a href="https://www.benzinga.com/topic/nick-setyan">Wedbush analyst Nick Setyan</a> maintained the stock with an Outperform and raised the price target from $170 to $200.</li>
<li>Evercore ISI Group analyst David Palmer upgraded Darden Restaurants from In-Line to Outperform and raised the price target from $165 to $205.</li>
</ul>
Considering buying DRI stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20083911/image-165-1024x495.png" alt="" class="wp-image-558271" style="width:691px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20083911/image-165-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20083911/image-165-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20083911/image-165-768x371.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20083911/image-165.png 1331w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Earnings

These Analysts Revise Their Forecasts On Darden Restaurants After Q1 Results

Wedbush analyst Richard Anderson reiterates LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) with a Outperform and maintains $40 price target.

Wedbush Reiterates Outperform on LTC Properties, Maintains $40 Price Target

Scotiabank analyst Andres Coello upgrades Millicom Intl Cellular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGO#NASDAQ">TIGO</a>) from Sector Perform to Sector Outperform and raises the price target from $30 to $37.3.

TIGO

Scotiabank Upgrades Millicom Intl Cellular to Sector Outperform, Raises Price Target to $37.3

Scotiabank analyst Andres Coello upgrades TIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIMB#NYSE">TIMB</a>) from Sector Perform to Sector Outperform and raises the price target from $17.5 to $24.8.

TIMB

Scotiabank Upgrades TIM to Sector Outperform, Raises Price Target to $24.8

In the heart of Cape Cod, Massachusetts, Tribal Fire, a Native American-owned cannabis delivery service, is blazing a trail in the fast-growing cannabis industry. Founded by Chef John Marcellino, a member of the Mashpee Wampanoag tribe, and his wife, this family-run business stands out in a market that poses significant challenges for minority entrepreneurs.
As investors set their sights on the Massachusetts cannabis market, Tribal Fire offers key insights. Marcellino&#8217;s journey underscores the value of community partnerships, navigating strict regulations while meeting increasing demands for discreet, high-quality cannabis delivery.
<h3 class="wp-block-heading">Strategic Advice: Find The Right Partner </h3>
Securing funding was a major challenge for Marcellino. &#8220;We were dead in the water," he said, noting the difficulty of raising capital while living on Massachusetts' only tribal reservation. Although he completed the required paperwork and training with the Cannabis Control Commission (CCC), building the facility proved to be an even greater hurdle.
The turning point came when cannabis company <a href="https://www.benzinga.com/markets/cannabis/23/12/36353824/stock-plan-transforms-massachusetts-theory-wellness-employees-into-company-owners">Theory Wellness </a>provided a $250,000 grant, allowing Tribal Fire to move forward. &#8220;It's hard to go to banks in this industry," Marcellino said. Thanks to this support, Tribal Fire officially opened on August 23, 2023.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Delivering Cannabis In Massachusetts</h3>
For now, Marcellino's team delivers only Theory Wellness products with the idea to expand in the future "We focus on Theory Wellness because it's a fantastic product, but we do have the option to carry others," he said.&nbsp;
What sets Tribal Fire apart is its commitment to discretion and customer care, targeting a <a href="https://www.benzinga.com/topic/cannabis-branding">niche marke</a>t of users who prioritize privacy. "About 25% of our customers are people like clergy, police officers, or state workers who don't want to be seen walking into a cannabis store," Marcellino said.
He added that their service plays a critical role in promoting safety, especially during late-night hours. "We often get calls from people who are already partying and don't want to risk driving out to get more alcohol or visit a cannabis store.&#8221;&nbsp;
By delivering discreetly, Tribal Fire provides a safer alternative for those who might otherwise <a href="https://www.benzinga.com/markets/cannabis/24/08/40444497/paradigm-changing-cannabis-breath-test-emerges-as-weed-surpasses-alcohol-in-daily-use">drive under the influence</a>. "In a few years, I believe we'll have solid data showing that our service is helping prevent accidents and keeping people out of trouble."
<h3 class="wp-block-heading">The Cost Of Compliance </h3>
Tribal Fire&#8217;s unique selling point extends beyond its delivery model. "We are the Mercedes-Benz of cannabis delivery in <a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts</a>," Marcellino joked. But behind that confidence lies a meticulous approach to security and compliance.&nbsp;
The company operates from a state-approved facility, outfitted with 14 cameras, motion detectors and a generator to ensure operations remain secure even during power outages.&nbsp;The&#8217;ve also invested in a steel-reinforced walk-in vault and delivery vehicles equipped with cameras and GPS tracking. All drivers wear body cameras to comply with legal requirements. &#8220;Security is our number one concern, and we've ensured we meet every standard,&#8221; Marcellino said.
Also Read: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Expanding In Cape Cod's Elite Market</h3>
Tribal Fire is strategically positioned for growth in Cape Cod, a prime destination for affluent tourists. Despite the challenges, Marcellino envisions exciting expansion opportunities, including packaging services and cannabis consumption lounges. With Cape Cod's reputation as a luxurious getaway, the potential for a high-end cannabis dining experience is immense.
&#8220;We have room for growth. Space for packaging, and I'm also interested in starting a <a href="https://www.benzinga.com/markets/cannabis/23/07/33175512/exclusive-economic-impact-of-cannabis-lounges-factors-shaping-this-new-consumption-trend">consumption restaurant</a>," Marcellino said, blending his culinary expertise with cannabis-infused cuisine. "I make a great lobster roll. Imagine that with a cannabis cream sauce," he joked. 
Tribal Fire offers an entry point into a <a href="https://www.benzinga.com/markets/cannabis/24/07/40027914/cannabis-tourism-is-destined-for-amazing-growth-best-locations-to-profit">thriving tourism market</a>. Positioned in one of Massachusetts&#8217; most iconic coastal destinations, the business is primed to attract a clientele seeking discreet, high-quality cannabis experiences.
Marcellino is open about needing additional financial support to bring his vision to life.&nbsp;"We're looking for investors. We want to grow. We're ready for it." &nbsp;
<h3 class="wp-block-heading">Takeaway For Investors</h3>
The Massachusetts cannabis market remains one of the most tightly regulated in the U.S., but with the right support, businesses like Tribal Fire are proving that it's possible to succeed. Marcellino's advice for other entrepreneurs looking to enter the industry? &#8220;Be honest. Tell your story. People want to help you, especially in this industry. There's a lot of good people out there who want to see you succeed," he said.
Tribal Fire's journey is far from over, but its early success serves as a beacon of possibility for others. &#8220;We're saving lives, preventing problems, and giving people options. That's what we're all about,&#8221; Marcellino said.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40886620/how-this-former-dea-consultant-is-making-craft-cannabis-profitable-in-new-jersey-a-dirt-y-little"> How This Former DEA Consultant Is Making Craft Cannabis Profitable In New Jersey: A &#8216;Dirt-y&#8217; Little Secret</a>

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Interview

Rolling Into Cape Cod: Minority-Owned Cannabis Delivery 'Tribal Fire' Dishes Out Secret Sauce For Investors

Wedbush analyst Robert Driscoll reiterates Adicet Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACET#NASDAQ">ACET</a>) with a Outperform and maintains $5 price target.

ACET

Wedbush Reiterates Outperform on Adicet Bio, Maintains $5 Price Target

Kroger Extends Exchange Offers And Consent Solicitations For Albertsons Companies For Up To $7,441,608,000 Aggregate Principal Amount Of New Notes And Cash; Extends Expiration Date From Sept. 23 To Sept. 27

SpaceX CEO Elon Musk, on Friday, continued his <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star" target="_blank" rel="noopener">ongoing criticism</a> of the Federal Aviation Administration (FAA) by leveling allegations of a lack of background in the field of aviation and space, at the wrong person.
What Happened: &#8220;Shouldn't the head of an organization responsible for regulating the safety of airplanes &amp; rockets know something about how they work?,&#8221; Musk wrote on social media platform X, formerly Twitter, referring to United States Deputy Secretary of Transportation Polly Trottenberg&#8216;s lack of background in aviation or space. However, Trottenberg is no longer the acting administrator of the FAA. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Shouldn't the head of an organization responsible for regulating the safety of airplanes &amp; rockets know something about how they work? <a href="https://t.co/4fegHMDS0L">https://t.co/4fegHMDS0L</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837070410757677485?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trottenberg served as the acting administrator for FAA for merely a few months starting in June 2023 until Michael Whitaker was appointed the administrator in October. 
Whitaker, contrary to Musk&#8217;s opinion on FAA leadership, has a background in aviation. Before becoming FAA administrator, he was the chief operating officer at Supernal, a Hyundai Motor Group company developing an electric vertical take-off and landing (eVTOL) vehicle. He is a private pilot who also worked several years at United Airlines in the past.
Why It Matters: Musk has been criticizing the FAA over the past week &#8211; earlier this week, the CEO blamed the agency for the <a href="https://www.benzinga.com/news/24/09/40932353/spacex-continues-to-prepare-for-future-starship-flights-despite-delays-in-faa-launch-clearance-elon">delay in conducting the test flights</a> of its ambitious Starship launch vehicle.
"Flight 5 (of Starship) is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA!," Musk&nbsp;said on Thursday.
He also accused the agency of favoritism towards Boeing after it <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">proposed a fine of $633,009</a> on SpaceX for regulatory violations on Tuesday.
&#8220;The FAA leadership spends their resources attacking SpaceX for petty matters that have nothing to do with safety, while neglecting real safety issues at Boeing. This is deeply wrong and puts human lives at risk,&#8221; Musk wrote on Thursday. 
SpaceX also<a href="https://www.benzinga.com/markets/equities/24/09/40951122/elon-musk-blasts-faa-for-targeting-spacex-over-petty-matters-while-ignoring-boeings-safety-issue"> sent a letter addressed to key members </a>of the U.S. Congress, including Rep.&nbsp;Frank Lucas&nbsp;(R-Okla.) and Rep.&nbsp;Zoe Lofgren&nbsp;(D-Calif.), Sen.&nbsp;Ted Cruz&nbsp;(R-Texas) and Senate Commerce Committee Chair&nbsp;Maria Cantwell&nbsp;(D-Wash.) denying the FAA&#8217;s allegations of regulatory violations while also alleging that the federal agency lacks the resources to review licensing commercial spaceflight operations. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40934031/teamsters-opts-to-not-endorse-either-harris-or-trump-for-upcoming-presidential-elections-citing-fail" target="_blank" rel="noreferrer noopener">Teamsters Opts To Not Endorse Either Harris Or Trump For Upcoming Presidential Elections, Citing Failure To Secure Pledges Of Non-Interference In Union Campaigns</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

Tech

SpaceX CEO Elon Musk Rains Criticism At Wrong Person In His Ongoing Tirade Against FAA

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/09/19/final-trades-target-home-depot-and-the-ijr.html">Halftime Report Final Trades</a>,&#8221; Stephanie Link of Hightower named Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) as her final trade.
On Thursday, Target tapped PepsiCo, Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) Jim Lee as its CFO and a member of its leadership team, effective Sept. 22. Lee brings over 25 years of experience in finance, strategy and more at PepsiCo. 
Lee will take over from COO Michael Fiddelke. Lee has served on multiple boards during his PepsiCo career, including Tropicana Brands Group and Celsius Holdings.
Kevin Simpson of Capital Wealth Planning said The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) would be a tremendous beneficiary of lower interest rates. The company has a dividend yield of 2.3%, he added.
Home Depot recently agreed to a settlement of almost $2 million to resolve allegations that it overcharged customers at checkout. The lawsuit, filed by prosecutors from six California counties, accused the retailer of "scanner violations," where the prices at checkout were higher than the advertised prices. The case was brought to the San Diego County Superior Court, reported NBC News.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Jim Lebenthal of Cerity Partners picked iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) as his final trade.
Price Action:
<ul>
<li>Target gained 1.9% to close at $156.49 during Thursday's session.</li>
<li>Home Depot shares gained 1.7% to settle at $390.34 on Thursday.</li>
<li>iShares Core S&amp;P Small-Cap ETF gained 2% during Thursday's session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40948972/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>
Image: Shutterstock

Target, Home Depot And More On CNBC's 'Final Trades'

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