Latest News for Hannan Metals Stock (OTC:HANNF)

Hannan Metals Ltd is a Canada-based junior mineral exploration company. It is engaged in the business of acquisition and exploration of mineral properties. Geographically, the company operates in Canada and Ireland. Its exploration and evaluation assets are located in Ireland. The firm holds interest in Clare Regional Project and San Martin Project.

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Kansas faces another year without the prospect of legalizing medical marijuana or expanding its Medicaid program, as Republican state senators effectively blocked efforts on Friday to bring these issues to debate before they adjourn on Tuesday.
Despite consistent advocacy and popular support, proponents of both measures fell short of the 24 of 40 votes required to move the bills out of committee, reported the Associated Press.
All but 12 states have legalized <a href="https://www.benzinga.com/topic/medical-cannabis">medical marijuana</a> and all but 10 have expanded Medicaid in line with the Affordable Care Act.
"We&#8217;re behind the times," state Sen. John Doll, a Republican who voted for both measures, said after Friday&#8217;s votes.
For nearly a decade, supporters of medical marijuana have voiced their frustration at the inability to pass this measure. Kansas does not allow for voters to put proposed laws on the ballot, a pathway that has proven successful in other states with the most recent <a href="https://www.benzinga.com/markets/cannabis/23/11/35664155/ohio-legalizes-cannabis-and-overwhelmingly-approves-abortion-rights">being in Ohio</a>. Florida is expected to be the next.
Despite Doll and other legislators' acknowledgment of support, political maneuvering and opposition remain formidable obstacles, particularly within Kansas' Republican-controlled Senate.
<h2 class="wp-block-heading">Frustration Mounts, Advocates Want Equitable Cannabis Laws</h2>
Democratic Gov. Laura Kelly previously attempted <a href="https://www.benzinga.com/markets/cannabis/24/01/36564424/kansas-gov-laura-kelly-on-tax-cuts-medicaid-and-the-lone-midwestern-state-with-no-medical-mariju">to link medical marijuana taxes</a> to fund Medicaid expansion, but her efforts were unsuccessful.
State Sen. Cindy Holscher (D) <a href="https://kansasreflector.com/2024/04/27/kansas-senate-rejects-attempt-to-dislodge-medical-marijuana-bill-stuck-in-a-committee/#:~:text=Sen.%20Cindy%20Holscher%2C%20D%2D,legal%20consumption%20of%20marijuana%20products.">called</a> it frustrating that GOP lawmakers again stood in the way of legislation that would enable Kansas veterans and people with serious health conditions from benefiting from legal marijuana products. 
"Over the past three weeks, scores of Kansans have reached out to their senators voicing support for medical cannabis as they have done for nearly the past decade," Holscher said. "Sadly, supporters have faced many hurdles on this important measure."
<a href="https://www.benzinga.com/markets/cannabis/24/01/36766377/kansas-2024-a-defining-moment-for-medical-marijuana-in-a-holdout-state-is-change-imminent">Cheryl Kumberg</a>, a registered nurse and president of the Kansas Cannabis Coalition, said those who can get cannabis from other states are using it, risking legal issues to address their medical problems.
"It's ridiculous. I can go 45 minutes one way, a couple hours in the other direction, and you can just use it however you want," Kumberg said.
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GOP Lawmakers To Kansans: No Medical Marijuana, No Expanded Medicaid And No More Debate Until Next Year

With the earnings season in full swing, these ten large-cap stocks were the worst performers last week. Are they in your portfolio?
<ol>
<li>LKQ Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) stock tumbled 12.3% after the company reported a&nbsp;Q1&nbsp;earnings miss&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38382221" rel="noreferrer noopener">and cut its FY24&nbsp;outlook</a>.</li>
<li>MSCI Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) shares fell 9.8% following its&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38383493" rel="noreferrer noopener">mixed first-quarter results</a>. Several analysts cut their<a target="_blank" href="https://www.benzinga.com//node/38401130" rel="noreferrer noopener">&nbsp;forecasts on the stock</a>.</li>
<li>Textron Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) shares plunged 9.5% after it reported worse-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38425093" rel="noreferrer noopener">Q1&nbsp;financial results</a>.</li>
<li>New Oriental Education &amp; Technology Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) shares dipped 9.4%&nbsp;following <a href="https://www.benzinga.com//node/38405556" target="_blank" rel="noreferrer noopener">a&nbsp;third-quarter&nbsp;EPS miss</a>.</li>
<li>Bristol-Myers Squibb Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) stock was down 9.0% following&nbsp;Q1&nbsp;earnings and a significant 2024&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38437857" rel="noreferrer noopener">adjusted EPS&nbsp;guidance cut</a>.&nbsp;</li>
<li>Manhattan Associates, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) stock&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38389487" rel="noreferrer noopener">fell 8.8%</a>.</li>
<li>Reliance, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) shares dipped 8.6% after it reported worse-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38460057" rel="noreferrer noopener">Q1&nbsp;financial results</a>.</li>
<li>Meta Platforms, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares fell 8.4% after it provided a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?_gl=1&#x2A;xbul0p&#x2A;_ga&#x2A;MTExNTkxODA0Ni4xNzAzNTkwOTkx&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDExNTk3OC44LjEuMTcxNDE1NDEwMS4wLjAuMA.." rel="noreferrer noopener">weaker-than-expected revenue&nbsp;outlook</a>. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38441148" rel="noreferrer noopener">cut the price target</a>.&nbsp;</li>
<li>Southwest Airlines Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) was down 8.3% following&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38435109" rel="noreferrer noopener">worse-than-expected&nbsp;Q1&nbsp;financial results</a>. Some of the analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/LUV/analyst-ratings" rel="noreferrer noopener">cut their price target.</a></li>
<li>Nucor Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) declined 8.2% after reporting worse-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38365860" rel="noreferrer noopener">quarterly financial results</a>. Analysts trimmed&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/nue/analyst-ratings" rel="noreferrer noopener">their price target</a>.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/04/38479666/lets-spill-the-tea-top-consumer-tech-news-from-last-week-that-you-should-know-april-21-27">Let&#8217;s Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 21-27, 2024)</a>
Photo: Shutterstock

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Last Week's Worst-Performing Stocks: Are These 10 Large-Cap Stocks In Your Portfolio? (April 21-27, 2024)

With the earnings season in full swing, these large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Vertiv Holdings Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) increased&nbsp;23.3% after it reported better-than-expected first-quarter FY24 results and&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38405154/why-data-infrastructure-company-vertivs-shares-are-rocketing-today" target="_blank" rel="noreferrer noopener">raised its 2024 guidance</a>. Several analysts&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38431369/vertiv-analysts-raise-their-forecasts-following-strong-earnings" target="_blank" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 19.70% despite reporting weak first-quarter FY24 earnings, with gains in the stock somewhat attributable to CEO Elon Musk&#8216;s <a href="https://www.benzinga.com/news/earnings/24/04/38405212/tesla-stock-is-ripping-higher-wednesday-whats-going-on" target="_blank" rel="noreferrer noopener">conference call</a>. The company disclosed its biggest workforce reduction ever to combat slowing <a href="https://www.benzinga.com/news/24/04/38452751/teslas-biggest-layoffs-mapped-where-has-ev-giant-cut-most-jobs" target="_blank" rel="noreferrer noopener">demand and falling margins</a>. Several analysts revised their <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings" target="_blank" rel="noreferrer noopener">forecasts for the stock</a>.</li>
<li>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) shares were up 17.5% following <a href="https://www.benzinga.com//node/38424671" target="_blank" rel="noreferrer noopener">better-than-expected Q1 earnings</a> and strong Q2 guidance and strong earnings from Microsoft, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more?_gl=1&#x2A;1wvnw9t&#x2A;_ga&#x2A;MTExNTkxODA0Ni4xNzAzNTkwOTkx&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDExNTk3OC44LjEuMTcxNDE1MTk2My4wLjAuMA.." target="_blank" rel="noreferrer noopener">which could be lifting AI optimism</a>.</li>
<li>BeiGene, Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) stock gained 17.24% after the European Commission approved Tislelizumab for non-small cell lung cancer across three indications,&nbsp;<a href="https://www.benzinga.com//node/38373608" target="_blank" rel="noreferrer noopener">including first- and second-line use</a>.</li>
<li>Tyler Technologies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) shares surged 13.6% after it reported better-than-expected&nbsp;Q1&nbsp;EPS and sales and provided upbeat&nbsp;guidance&nbsp;for FY24. Analysts boosted&nbsp;<a href="https://www.benzinga.com//node/38458683" target="_blank" rel="noreferrer noopener">their forecasts for the company</a>.</li>
<li>Westinghouse Air Brake Technologies Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) was up 13.49% after it reported better-than-expected&nbsp;Q1&nbsp;financial results&nbsp;<a href="https://www.benzinga.com//node/38403160" target="_blank" rel="noreferrer noopener">and raised its 2024&nbsp;guidance</a>. Several analysts&nbsp;<a href="https://www.benzinga.com/quote/wab/analyst-ratings" target="_blank" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>Newmont Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) rose 13.25% after&nbsp;the company reported&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38438315/why-gold-miner-newmont-shares-are-surging-today" target="_blank" rel="noreferrer noopener">first-quarter FY24 results</a>. Revenue of $4.023 billion beat the consensus of $3.67 billion, and adjusted&nbsp;EPS of $0.55&nbsp;<a href="https://www.benzinga.com/news/large-cap/24/04/38441405/gold-glitters-on-stagflation-tailwinds-newmont-soars-13-in-biggest-gain-post-covid-leads-mining-se" target="_blank" rel="noreferrer noopener">beat the consensus of $0.36</a>.&nbsp;</li>
<li>Carrier Global Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares grew by 11.85%, rebounding from earlier&nbsp;<a href="https://www.benzinga.com//node/38438880" target="_blank" rel="noreferrer noopener">weakness following&nbsp;Q1&nbsp;earnings</a>.</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) stock jumped 11.24% following better-than-expected <a href="https://www.benzinga.com//node/38425172" target="_blank" rel="noreferrer noopener">Q1 adjusted EPS results</a>.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) stock surged 10.2% in reaction to <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener">Meta&#8217;s</a><a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener"> increased capex guidance</a>, in possible anticipation of <a href="https://www.benzinga.com//node/38444720" target="_blank" rel="noreferrer noopener">Intel&#8217;s</a><a href="https://www.benzinga.com//node/38444720" target="_blank" rel="noreferrer noopener"> earnings report</a> and following <a href="https://www.benzinga.com//node/38390554" target="_blank" rel="noreferrer noopener">strong earnings from </a><a href="https://www.benzinga.com//node/38390554" target="_blank" rel="noreferrer noopener">Texas Instruments</a>.</li>
<li>Microchip Technology Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) was up 10.4%.</li>
<li>Deutsche Bank AG&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) stock increased 10.3%.</li>
<li>Grupo Aeroportuario Del Sureste, S.A. De C.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASR#NYSE">ASR</a>) shares were up 10.3%.</li>
<li>Antero Resources Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) stock&nbsp;saw an increase of&nbsp;9.9%.</li>
<li>Monolithic Power Systems, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) gained 9.9%.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38349264/tracking-last-weeks-top-performers-are-these-7-large-cap-stocks-in-your-portfolio">Tracking Last Week&#8217;s Top Performers: Are These 7 Large-Cap Stocks In Your Portfolio? (April 13-20)</a>
Photo: Shutterstock

BGNE

CARR

FCNCA

LSCC

MCHP

MPWR

TSLA

Tracking Last Week's Top Performers: Are These 15 Large-Cap Stocks In Your Portfolio? (April 21-27, 2024)

Tech

AMZN

GOOG

GRND

MSFT

NVDA

RDDT

SPOT

Let's Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 21-27, 2024)

gm,
I&#8217;m Ivan and welcome to&nbsp;my weekly column&nbsp;Mad Crypto Alpha.
Some people want to build the &#8220;future of finance,&#8221; but I just want to help you make money in crypto.
Each Sunday, you get weekly&nbsp;insights the news does not cover&nbsp;but you need to know about.
So you&#8217;re not just entertained by crypto but get the alpha behind the story.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="640" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/28130815/image-243.png" alt="" class="wp-image-312130" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/28130815/image-243.png 640w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/28130815/image-243-300x300.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/28130815/image-243-150x150.png 150w" sizes="(max-width: 640px) 100vw, 640px" /></figure>
In this&nbsp;week&#8217;s issue:
<ul>
<li>Why do VCs hate meme coins?</li>
<li>Is no one left to buy our meme coin bags?</li>
<li>Memecoin Supercycle: It&#8217;s so over or we&#8217;re so back?</li>
</ul>
<h2 class="wp-block-heading">Why Do VCs Hate Meme Coins?</h2>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued in crab market mode last week.
Every time that happens, Crypto Twitter turns into &#8220;The Jerry Springer Show.&#8221; This week&#8217;s topic: crypto VCs hatin&#8217; on meme coins. 
Exhibit A: Jack Niewold, angel investor.
<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">HOT TAKE #2: Memecoins are horrible for the crypto industry. While memecoins make it harder to dump on small retail investors, they delegitimize the industry in general. A huge cohort of crypto investors (including me) are here for one reason: DeFi. To the average retail…
&mdash; Jack Niewold &#x1fae1; (@JackNiewold) <a href="https://twitter.com/JackNiewold/status/1783917233296597375?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">If you ain&#8217;t reading all that, here&#8217;s the TLDR: Niewold thinks meme coins delegitimize the industry, have no use case and don&#8217;t appeal to &#8220;the average retail investor.&#8221;</figcaption></figure>
Exhibit B: Eddy Lazarin, chief technological officer at a16zcrypto, a major <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38113928/exclusive-the-top-crypto-vc-funding-trends-in-2024">venture capital firm</a>.
<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">Memecoins alter how the public, regulators, and entrepreneurs see crypto. At best, it looks like a risky casino. Or a series of false promises masking a casino. This deeply affects adoption, regulation/laws, and builder behavior. I see the damage every day. You should too.
&mdash; Eddy Lazzarin &#x1f7e0;&#x1f52d; (@eddylazzarin) <a href="https://twitter.com/eddylazzarin/status/1783179299085856934?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
If you&#8217;re not well-versed in the industry, you won&#8217;t know that what you see is not what you get.
What VCs say: Meme coins are bad for crypto because they make the industry look like a casino, distract from, &#x2A;checks quotes&#x2A;, &#8220;projects that appeal to the masses&#8221; and alienate regulators.
What VCs mean: Nobody is buying our VC coins because <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38080852/meme-coins-were-the-most-profitable-crypto-narrative-in-q1-report">meme coins are the most profitable narrative</a>. Can devs do something?
What&#8217;s actually happening: VCs and the entire industry have brought this on themselves. Retail, that is you, dear reader, has given up trying to understand zero-knowledge, restaking, real-world, [insert latest crypto buzzwords].
VCs have no issue with meme coins when they&#8217;re in on it. See <a href="https://twitter.com/0xen1/status/1783230441400447077">a16z booking profits</a> on Apecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">APE</a>). But, as Hsaka, one of the most proficient cryptocurrency traders, <a href="https://twitter.com/HsakaTrades/status/1774045741532553354">puts</a> it: VCs created the monster they complain about with their coins&#8217; predatory tokenomics. 
&#8220;They bit the hand that fed them, now the same hand has dropped them off at the shelter, and taken in a more friendly dog.&#8221;
Where VCs do have a point: The meme coin market is diluted and maturing. 
Dogecoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38469336/meme-coins-are-a-pure-ponzi-and-destroying-crypto-says-trader-who-thinks-dogecoin-was-diff">used to</a> be a &#8220;F-U to crypto bros shouting have fun staying poor.&#8221; New-gen meme coins are, as Qiao Wang <a href="https://twitter.com/QwQiao/status/1781633374475420080">puts it</a>, more like white-collar sports betting, where you cheer on your favorite narrative. And unlike with sports, have at least a theoretic chance at asymmetric upside.
But unlike sports betting, there&#8217;s no ref checking the insider allocation of any given hot new meme coins.
Also, a lot of meme coin wealth is imaginary and can only be cashed out if you&#8217;re skilled at doing so:
<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">How much of this memecoin bubble is wealth? The answer is much less than I expected &#8212; between the biggest 4 memes I can think of, total liquidity on chain doesn&#39;t even add up to $100m. I know that&#39;s not everything, but how much wealth will truly be created? $500m? Maybe? Many… <a href="https://t.co/4g6xALsKPJ">pic.twitter.com/4g6xALsKPJ</a>
&mdash; Jack Niewold &#x1fae1; (@JackNiewold) <a href="https://twitter.com/JackNiewold/status/1774222920862019584?ref_src=twsrc%5Etfw">March 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A lot of people won&#8217;t have that skill. That means a lot of people will get hurt. And that means, the government will get involved (even more).
So, if there are ever more meme coins and it&#8217;s becoming ever more difficult to turn a profit, is there even anyone left to buy at this point?
Read Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37577098/bitcoins-rally-sparks-renewed-interest-in-cryptocurrencies-should-you-invest-in-it-now" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Rally Sparks Renewed Interest In Cryptocurrencies — Should You Invest In It Now?</a>
<h2 class="wp-block-heading">Is No One Left To Buy Our Meme Coin Bags?</h2>
It&#8217;s been a rough month for meme coins. Just look at the 30-day performance of the top five by market capitalization.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>30-day performance</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-30.3%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>-19.6%</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>-3.5%</td>
</tr>
<tr>
<td>Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>-28.5%</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>
</figure>
Ouch. 
As Kyle, a pseudonymous researcher, correctly <a href="https://twitter.com/0xkyle__/status/1783900499520983095">points out</a>, memes are the consensus trade. And when everyone has bought, who is left to buy?
Meme coins are not the most egalitarian thing crypto has ever seen. As a trader, you have to pick your dilution poison:
<ul>
<li>Dilution of valuation: classic altcoins that come with massive token unlocks to pay the venture capitalists funding them. Price gets depressed by token sales.</li>
<li>Dilution of supply: meme coins that have no barrier of entry to being created. Price gets depressed by endless competition.</li>
</ul>
Mert, CEO of Helius Labs, <a href="https://twitter.com/0xMert_/status/1783504046688440617">says</a> — and he is right — that memes are not the reason VCs don&#8217;t fund stuff people actually want. Their risk aversion and wrong incentives are the real reason. It&#8217;s easier to justify investing in the 100th blockchain over a new ambitious project.
But that doesn&#8217;t change that, quoting Kyle again, &#8220;you can&#8217;t just ape with half a brain anymore.&#8221; We are (probably) not early but also (probably) not late in this cycle.
The medium to long-term macro outlook is still positive for crypto because we&#8217;re in a situation last seen in the 1940s — the economy is trapped between accelerating public debt and re-accelerating inflation.
<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">The second leg of inflation has arrived, and Powell is in quite the conundrum: &#8211; Raise rates further: Soaring $1.1T interest expense compounds, debt spiral accelerates. &#8211; Hold, hope inflation cools: Interest expense as % of GDP at 25y highs &amp; growing at 5.25%. &#8211; Cut into an… <a href="https://t.co/6s4vUv9N6w">pic.twitter.com/6s4vUv9N6w</a>
&mdash; Dylan LeClair &#x1f7e0; (@DylanLeClair_) <a href="https://twitter.com/DylanLeClair_/status/1783897841296891909?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
So, what&#8217;s it gonna be with meme coin investing then — so over or about to be so back?
<figure class="wp-block-image size-large"><img decoding="async" src="https://media1.tenor.com/m/1gH6-MjLRZ0AAAAC/were-waiting-angry.gif" alt="" /></figure>
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478483/crypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib">Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And Its Not Dogecoin Or Shiba Inu</a>
<h2 class="wp-block-heading">Memecoin Supercycle: It&#8217;s So Over Or We&#8217;re So Back?</h2>
Ansem, the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) influencer you may remember for <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38134069/is-crypto-fueling-the-dumbing-down-of-america-mad-crypto-alpha-with-ivan">his market-moving audience size</a>, <a href="https://twitter.com/ZeMirch/status/1783292997561377052/photo/3">thinks</a> there will be a &#8220;consolidation into proven winners.&#8221;
I tend to agree with that. As I <a href="https://twitter.com/IvanCryptoSlav/status/1783545858727752101?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1783545858727752101%7Ctwgr%5Ea6ec8b135ec71ca9675f4f495bc934fbac8347ca%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Fpost%3D312129action%3Dedit">pointed out</a> on not-Twitter, a lot of crypto bros throw around sky-high meme coin valuations. But is there enough money to go around for all these coins to reach multi-billion-dollar valuations? 
What kind of situation does the market have to be in for someone to look at a meme coin valued tens or hundreds of billions and go,&#8220;Yup, that checks out, I think this is going a lot higher, let me buy here&#8221;.
But I do think Bitcoin is structurally set up for another leg up in this run:
<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">Agree with this. Still little systemic risk in crypto economy US fiscal debt not going anywhere Idiocracy accelerating Tech still holding up the economy Short term maybe a slump, long term everyone will want to go long tech and hard assets Guess what, Bitcoin is both
&mdash; Ivan ─ Crypto, Macro &amp; Geopolitics (@IvanCryptoSlav) <a href="https://twitter.com/IvanCryptoSlav/status/1783582646682989034?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Long-term, I see the combination of (geo)political instability, fragmentation, loss of trust, digitalization and demographic change pushing Bitcoin up and to the right. And meme coins as white-collar online sports betting alternative with it.
TLDR: It&#8217;s not over, we&#8217;re about to be back, bear with us.
<h2 class="wp-block-heading">Wrapping It Up</h2>
If you liked this column, give me a follow&nbsp;<a href="https://twitter.com/IvanCryptoSlav" target="_blank" rel="noreferrer noopener">on Twitter</a>&nbsp;and sign up to our&nbsp;<a href="https://www.benzinga.com/free-newsletters" target="_blank" rel="noreferrer noopener">"Future of Finance" newsletter</a>.
Shoot me a DM or Benzinga a mail if you have topic requests, and I'll see you back for next week's&nbsp;Mad Crypto Alpha.
gn
Read Next: <a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">Elon Musk Gives One-Word Response To Joe Biden&#8217;s Dig At Donald Trump At White House Correspondents&#8217; Dinner</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

$DOGE

$PEPE

$SHIB

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$WIF

Is The 'Memecoin Supercycle' Over? Mad Crypto Alpha With Ivan

Stephanie Grisham, a former aide to the Donald Trump administration, shared&nbsp;that former First Lady Melania Trump is not pleased with the ongoing<a href="https://www.benzinga.com/news/24/03/38012721/marjorie-taylor-greene-claims-she-has-proof-that-votes-for-donald-trump-in-2020-were-lost-in-the-mai"> details of her husband&#39;s hush money trial.</a>
What Happened: Grisham, who previously served as the former president&#39;s press secretary and chief of staff for Melania Trump, stated that the former First Lady is closely following the trial, according <a href="https://www.cnn.com/videos/politics/2024/04/23/melania-trump-hush-money-trial-stephanie-grisham-ebof-digvid.cnn">to</a> CNN.
The case is centered on the&nbsp;allegations that Donald Trump falsified documents to hide a payment made to adult film actress Stormy Daniels in an attempt to silence her about an alleged affair.&nbsp;&nbsp;
While attending the trial in a Manhattan courtroom this week, Donald Trump expressed dissatisfaction about being away from Melania Trump on her birthday.
The trial has brought to light new details about Daniels and former Playboy model Karen McDougal, who also claims to have had an affair with Donald Trump.The former president has consistently denied these allegations.
In an interview with CNN, Grisham said, &quot;The fact that [Donald Trump] asked about her in the White House, the fact that some &hellip; White House staff got on the phone with David Pecker to talk about keeping this secret even further. Those were new details to me and so I know they were new details to [Melania Trump] and I&rsquo;m sure she&rsquo;s not happy about it.&quot;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38478689/amid-latest-indictments-former-trump-aide-slams-ex-president-over-treatment-of-bodies-around-him-he">Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of &#39;Bodies Around Him&#39;: &#39;He Takes Out Everybody Who Is Loyal To Him&#39;</a>
Insiders close to Melania Trump suggest she is unlikely to play a significant role in her husband&#39;s reelection campaign, reported&nbsp;<a href="https://thehill.com/regulation/court-battles/4626024-donald-trump-melania-trump-ex-aide-hush-money-trial/">The Hill</a>.&nbsp;&nbsp;
This is seen as a significant loss as, according to The Hill&#39;s&nbsp;sources,&nbsp;&quot;first ladies are typically helpful on the campaign trail&quot; with women voters and undecided voters. However, Donald Trump&#39;s&nbsp;campaign acknowledged&nbsp;Melania&#39;s preference for privacy and her aversion to campaigning.
Why It Matters: Legal experts previously suggested that <a href="http://www.benzinga.com/news/24/04/38348768/courtroom-appearances-by-these-two-members-of-donald-trumps-family-could-help-him-in-hush-money-tria">Melania Trump&#39;s presence in the courtroom</a> could cast Donald Trump in a more favorable light, potentially aligning with his defense strategy by portraying him as a supported and wholesome family man. However, Melania Trump&#39;s recent discontent with the trial details and her reluctance to participate in the campaign could impact this strategy.
Additionally, the Trump family has faced internal conflicts, with a <a href="http://www.benzinga.com/news/24/02/37303851/melania-trump-vs-ivanka-trump-white-house-power-struggle-unveiled-in-new-tell-all-book">power struggle between Melania and Ivanka Trump</a> during their time in the White House.
With Donald Trump stating that his family has been through enough and <a href="http://www.benzinga.com/news/23/07/33333071/trump-says-ivanka-and-others-will-not-return-to-white-house-if-he-wins-in-2024-my-family-has-been-th">will not return to the White House if he wins </a>in 2024, Melania Trump&#39;s role in the upcoming campaign and potential second term remains uncertain.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38133891/donald-trump-says-it-would-be-a-great-honor-if-he-were-jailed-for-breaching-gag-order-i-will-gladly" target="_blank">Donald Trump Says It Would Be A &#39;Great Honor&#39; If He Were Jailed For Breaching Gag Order: &#39;I Will Gladly Become A Modern Day Nelson Mandela&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

General

Ex-Trump Aide Says Melania Trump 'Not Happy' With Latest Revelations In Hush-Money Trial

Last week, former President Donald Trump&nbsp;went on the attack against independent candidate Robert F. Kennedy Jr., as election polls suggest that Kennedy could draw more votes away from <a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">Trump than from&nbsp;President&nbsp;Joe Biden.</a>
What Happened: On Friday, Trump took to his Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/112340329782516692">platform&nbsp;</a>to target Kennedy, branding him as a &quot;Radical Left Liberal&quot; and stating that a vote for Kennedy would equate to a &quot;wasted protest vote.&quot;
&quot;RFK Jr. is a Democrat &#39;Plant,&#39;&nbsp;a Radical Left Liberal who&rsquo;s been put in place in order to help Crooked Joe Biden, the Worst President in the History of the United States, get Re-Elected,&quot; Trump wrote. &quot;A Vote for Junior&rsquo; would essentially be a WASTED PROTEST VOTE, that could swing either way, but would only swing against the Democrats if Republicans knew the true story about him. Junior&rsquo; is totally Anti-Gun, an Extreme Environmentalist who makes the Green New Scammers look Conservative, a Big Time Taxer and Open Border Advocate, and Anti-Military/Vet&hellip;&quot;
Kennedy, who has been more critical of Biden than Trump,&nbsp;responded to the former president&#39;s posts by challenging Trump&nbsp;to a debate on the social media platform X, formerly Twitter.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38348768/courtroom-appearances-by-these-two-members-of-donald-trumps-family-could-help-him-in-hush-money-tria">Courtroom Appearances By These Two Members Of Donald Trump&#39;s Family Could Help Him In Hush-Money Trial</a>
When frightened men take to social media they risk descending into vitriol, which makes them sound unhinged. President Trump&#39;s rant against me is a barely coherent barrage of wild and inaccurate claims that should best be resolved in the American tradition of presidential debate.&hellip;
<blockquote class="twitter-tweet">&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1784267700304335087?ref_src=twsrc%5Etfw">April 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>According to <a href="https://maristpoll.marist.edu/polls/election-2024-april/">polls </a>conducted by Marist College and <a href="https://www.nbcnews.com/politics/2024-election/poll-biden-trump-tight-race-election-interest-low-rcna148170">NBC </a>News, Biden could gain more support than Trump if the ballot were to include&nbsp;other candidates, such as Kennedy,&nbsp;Cornel West and Jill Stein. NBC News reported that Biden leads Trump by two&nbsp;points in a five-way ballot test.
Despite these findings, Biden and his allies remain wary of Kennedy, who once contemplated running against the president in the Democratic primaries. In fact, several Kennedy family members have endorsed Biden, viewing Kennedy as a potential spoiler.
Why It Matters: The current situation is intriguing, given that Trump&#39;s team <a href="http://www.benzinga.com/news/24/01/36817269/in-unusual-twist-donald-trumps-teach-reached-out-to-unlikely-candidate-to-be-his-vice-president-says">had reportedly approached Kennedy</a> about a potential vice-presidential role shortly after Trump announced his presidential campaign in April 2023.
However, in a February interview with Fox News, <a href="http://www.benzinga.com/news/24/02/36925522/donald-trump-fuels-speculation-on-vice-presidential-pick-highlights-two-intriguing-candidates">Trump later hinted at possibly</a> selecting Sen. Tim Scott (R-S.C.) or South Dakota Gov. Kristi Noem as his running mate.
The race between Biden and Trump has tightened, as indicated by a <a href="https://www.benzinga.com/news/24/04/38239577/trump-vs-biden-one-candidates-lead-narrows-to-slim-margin-over-other">recent poll</a>&nbsp;by The New York Times and Siena College, which showed Trump holding a slim lead of just one&nbsp;point over Biden.
This marks a significant shift from a February poll that showed Trump leading Biden by five&nbsp;points in a two-way matchup.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38239577/trump-vs-biden-one-candidates-lead-narrows-to-slim-margin-over-other">Trump Vs. Biden: One Candidate&#39;s Lead Narrows To Slim Margin Over Other</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Donald Trump Goes Off On One Candidate For Stealing Potential Votes Away From Him In Tight Race Against Joe Biden: 'Would Essentially Be A WASTED PROTEST VOTE'

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. <a href="https://pro.benzinga.com/?utm_source=insights">According to Benzinga Pro</a>, these enticing companies are scheduled to trade publicly this week.
<ul>
<li>Viking Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>) will be trading publicly starting on May 1, 2024. The company&#39;s price band is set between $21.00 and $25.00 with an insider lock-up period of 180 days. Viking Holdings Ltd will be offering 44,000,000&nbsp;shares at a per-share value of $23.00.</li>
</ul>
<h3>Breaking Down IPOs</h3>
Initial public offerings, or IPOs, are the transitional processes of private companies deciding to go public and offer shares to investors on exchanges. IPOs typically offer companies the ability to build capital by distributing shares across the market. A company interested in becoming publicly tradeable must first meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

IPOs

IPO Previews For The Week

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk made a surprising visit to China on Sunday and met with the country&#8217;s premier Li Qiang, according to Bloomberg. A bullish analyst said the visit could be related to the rollout of <a href="https://www.benzinga.com/news/24/03/38012152/tesla-rolls-out-30-day-free-trial-for-its-full-self-driving-software">full-self driving</a> in the country.
What Happened: Immediately after Musk landed in China, the billionaire met with Li, who told him that China is always open to foreign companies and that Tesla was a successful example of Sino-U.S. trade cooperation, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-04-28/musk-makes-unannounced-china-visit-in-push-for-self-driving-cars">reported</a>, citing China Central Television.
The Tesla chief arrived in China at a Gulfstream registered to SpaceX at 2 p.m. local time, the report said.
Musk reportedly told the premier that Tesla was willing to deepen its cooperation with China. Musk also met with other high-ranking officials, including Ren Hongbin, head of the China Council for the Promotion of International Trade, the report said. 
The Tesla CEO is also expected to meet with officials to discuss the rollout of Tesla&#8217;s driver-assistance system, Bloomberg reported, citing a person familiar with the matter.
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: As Tesla&#8217;s core electric-vehicle business stutters amid amid slowing adoption precipitated by economic uncertainty, the company is resting its hopes on recurring high-margin revenue from the adoption of its FSD software suite. The FSD project has moved from beta testing and is now being promoted as FSD Supervised in North America.
Musk said on Tesla&#8217;s first-quarter earnings call that he was looking to release the FSD in other markets. 
&#8220;We plan on, with the approval of the regulators, releasing it as a supervised autonomy system in any market that — where we can get regulatory approval for that, which we think includes China,&#8221; he said.
With local EV players such as XPeng and Huawei promoting their sophisticated advanced driver-assistance systems as a selling point, Tesla&#8217;s rollout of its FSD in China could give it an edge, Bloomberg said.
Incidentally, <a href="https://in.benzinga.com/content/38235031/indias-detroit-to-make-aggressive-pitch-for-teslas-manufacturing-plant-as-elon-musk-plans-visit">Musk was supposed to visit India last Monday</a> and meet with Prime Minister Narendra Modi to unveil Tesla&#8217;s India plans. The billionaire, however, cancelled the visit in the last hour, citing &#8220;very heavy Tesla obligations.&#8221; 
Wedbush analyst Daniel Ives said that Musk visited China with a &#8220;laser focus on cutting the ribbon on the long awaited rollout of FSD software and permission/approval to transfer data overseas.&#8221;
Calling the visit a &#8220;watershed moment&#8221; for Musk and China, the analyst said &#8220;the long term valuation story at Tesla hinges on FSD and autonomous, a key missing piece in that puzzle is Tesla making FSD available in China which now appears on the doorstep.&#8221;
He noted that data collected by its Chinese fleet has so far been stored in Shanghai since 2021. 
&#8220;If Musk is able to obtain approval from Beijing to transfer data collected in China abroad this would be a &#8216;game changer&#8217; around the acceleration of training its algorithms for its autonomous technology globally,&#8221; Ives said. 
He added that the trip would also hold significance for Tesla and Musk to further bolster their EV presence within the Chinese market at a critical juncture.
&#8220;While demand challenges exist in China for Tesla, the Street is looking through this painful transition period for the long term growth story to emerge for Musk &amp; Co. with FSD a key ingredient in that recipe for success,&#8221; Ives said.
The analyst maintained an &#8220;Outperform&#8221; rating and $275 price target for the stock.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38476368/tesla-calms-investors-after-dismal-q1-fisker-buyout-buzz-byd-enters-pickup-game-and-more-biggest">Tesla Calms Investors After Dismal Q1, Fisker Buyout Buzz, BYD Enters Pickup Game And More: Biggest EV Stories Of The Week</a>
Photo: Shutterstock

Analyst Color

Equities

Reiteration

Analyst Ratings

Media

'Watershed Moment,' Says Tesla Analyst As Elon Musk Makes Surprise China Visit To Reportedly Discuss FSD Rollout And Data Transfer Overseas

Elon Musk&nbsp;reacted to President Joe Biden&#39;s recent comments at the White House correspondents&#39; dinner with a one-word&nbsp;response that <a href="https://www.benzinga.com/news/24/03/37439911/trump-vs-biden-one-candidate-appears-to-lose-support-from-within-party-raising-concerns-about-electa">sparked some discussion&nbsp;on social media.</a>
What Happened: On Sunday, Musk responded to a tweet by Greg Price, the communications director of the&nbsp;State Freedom Caucus Network&nbsp;who&nbsp;quoted Biden&#39;s remarks at the White House Correspondents dinner.
&quot;Biden repeats the bloodbath hoax at the White House Correspondents dinner: &#39;[Trump] promised a bloodbath when he loses again.&#39;&nbsp;He then went on to talk about the dangers of misinformation,&quot; Price wrote.&nbsp;
Musk&#39;s succinct response,&nbsp;&quot;Wow,&quot; left some&nbsp;followers mixed on where he stood on Biden&#39;s statement.&nbsp;
<blockquote class="twitter-tweet">&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1784411027058340179?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Why It Matters: Musk&#39;s political leanings have been a topic of interest. Despite his assurance that he would not financially support either Biden or Donald&nbsp;Trump&#39;s campaigns, his social media activity suggests a preference.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/37768322/in-rambling-speech-donald-trump-issues-grim-warning-if-he-loses-election-if-i-dont-get-elected-its-g">In Rambling Speech, Donald Trump Issues Grim Warning About US Auto Industry: &#39;If I Don&#39;t Get Elected ... It&#39;s Going To Be A Bloodbath For The Country&#39;</a>
<a href="http://www.benzinga.com/news/24/03/37574847/biden-vs-trump-elon-musk-says-he-wont-contribute-to-either-campaign-but-his-social-media-activity-su">Musk&#39;s posts have ranged from surmising</a>&nbsp;about Biden&#39;s use of Adderall to endorsing Trump&#39;s views on immigration.
The billionaire&nbsp;has also criticized Biden&#39;s immigration policies. He accused the president of allowing a significant influx of undocumented immigrants into the U.S. for political gain,&nbsp;<a href="http://www.benzinga.com/news/24/02/36922894/elon-musk-accuses-biden-of-encouraging-so-much-illegal-immigration-for-political-gain-this-explains">once commenting that</a>&nbsp;Biden&#39;s strategy was to&nbsp;&quot;1. Get as many illegals in the country as possible. 2. Legalize them to create a permanent majority &ndash; a one-party state.&quot;
There have been increasing comparisons between Musk and Trump, with both known for their unfiltered views and self-promotion. Musk&#39;s recent actions have even invited parallels to<a href="http://www.benzinga.com/news/24/01/36625230/is-elon-musk-becoming-more-like-donald-trump-one-report-suggests-so"> the Trumpian playbook</a>.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38476026/trump-vs-biden-one-candidate-hold-slim-lead-over-other-in-latest-poll">Trump Vs. Biden: One Candidate Hold Slim Lead Over Other In Latest Poll</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Elon Musk Gives One-Word Response To Joe Biden's Dig At Donald Trump At White House Correspondents' Dinner

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