Latest news for  (OTC:KRANF) Stock

Big Lots, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) filing for <a href="https://www.benzinga.com/markets/equities/24/09/40767067/another-retailer-takes-chapter-11-route-big-lots-files-for-bankruptcy-and-agrees-to-sell-assets-">Chapter 11 bankruptcy protection</a> could signify a growth opportunity for competitor Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), an analyst said.
The Columbus, Ohio-based discount retailer confirmed Monday that it would sell all of its assets and ongoing business operations to an affiliate of investment firm Nexus Capital Management as part of a decision that will also include closing some retail outlets.
Ollie&#8217;s may have the chance to take over closed Big Lots locations as it strives to increase store count from a current 525 outlets to a long-term saturation target of 1,300 stores, J.P.Morgan Chase analyst Matthew Boss said.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/09/40744407/top-wall-street-forecasters-revamp-big-lots-price-expectations-ahead-of-q2-earnings">Top Wall Street Forecasters Revamp Big Lots Price Expectations Ahead Of Q2 Earnings</a>
Ollie&#8217;s may also benefit from the fact that 430 of its stores are within close proximity to Big Lots stores, he said.
&#8220;We see lateral close-out retailer OLLI as a primary beneficiary of traffic gains and accelerated wallet share capture with 80-85% of OLLI's 525 store fleet within five miles of a Big Lots store,&#8221; he wrote in a note Monday.
Big Lots&#8217; plans to close 296 out of 1,392 retail locations as of Aug. 29 could help Ollie&#8217;s to grow its number of stores by 13.5% during fiscal years 2025 and 2026 after it increases the number of outlets to 560 by the end of the current fiscal year, Boss said. This growth in stores and market share could help Ollie&#8217;s grow its gross profit margin from 40.5% to 41%.
Price Action: Big Lots stayed at 50 cents per share during Monday&#8217;s trading but dropped 40.22% in after-hours trading to 30 cents. Ollie&#8217;s gained 5.92% to close at $92.48 on Monday.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39183754/ollies-surges-on-strong-q1-earnings-raises-financial-outlook-amid-consumer-bargain-hunting">Ollie&#8217;s Surges On Strong Q1 Earnings: Raises Financial Outlook Amid Consumer Bargain Hunting</a></li>
</ul>
Photo: Robert V. Schwemmer via Shutterstock

Analyst Color

Legal

OLLI

Big Lots Chapter 11 Could Mean Growth Opportunity For Ollie's Bargain Outlet, Analyst Says

Recent developments around cannabis reform as t<a href="https://www.benzinga.com/topic/2024-presidential-election">he 2024 election</a> approaches have quite a few heads spinning. Though now, as of Monday, cannabis reform advocates are likely scratching their heads. It seems that in Vice President Kamala Harris's newly launched campaign issues page, there is no mention of marijuana policy, <a href="https://www.marijuanamoment.net/harris-campaign-omits-marijuana-from-new-issues-page-as-trump-earns-praise-for-backing-legalization/">reported</a> by Marijuana Moment.
<h1 class="wp-block-heading">Wait...What?</h1>
The Harris campaign site outlines the vice president&#8217;s platform on various issues like taxes, health care, affordable housing and women&#8217;s issues, among others. It even touches on drug policy, noting Harris&#8217;s commitment to fighting the opioid epidemic and fentanyl-related deaths by making naloxone — an overdose-reversal drug — available over the counter.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40776937/trump-joins-millions-of-americans-who-support-rescheduling-cannabis-weed-industry-responds-to-fo">Trump &#8216;Joins Millions Of Americans&#8217; Who Support Rescheduling Cannabis: Weed Industry Responds To Former Pres&#8217; News</a>
<ul>
<li>Get Benzinga's exclusive analysis and 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>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h1 class="wp-block-heading">But Where's Cannabis Reform Policy?</h1>
Despite previous advocacy for marijuana reform, and lots of it, cannabis policy is conspicuously absent, reports the outlet, which is odd in that marijuana reform is clearly an issue that has become increasingly popular in national debates. Not to mention the recent pop cannabis enjoyed when Harris's arch-rival Donald Trump <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">came out</a> in support of federal marijuana rescheduling on Sunday night and declared himself all in with <a href="https://www.benzinga.com/markets/cannabis/24/08/40418144/florida-cannabis-legalization-one-poll-shows-weed-going-legal-in-november-ballot-another-thumbs-">Florida's legalization amendment</a>, to be decided in a November ballot.
This Trump shift on weed reform is important regardless of whether it's a "brazen flip-flop" as the <a href="https://www.benzinga.com/markets/cannabis/24/09/40677600/harris-campaign-slams-donald-trump-over-cannabis-shift-calls-it-brazen-flip-flop">Harris campaign labeled</a> his initial Labor Day weekend <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">announcement</a> about the topic.
At this point, it almost doesn't matter that the <a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps" target="_blank" rel="noreferrer noopener">Biden-Harris administration</a> successfully distinguished itself from Trump's approach to drug policy, which until recently was relatively unknown except for his <a href="https://www.benzinga.com/markets/cannabis/22/11/29741741/trump-announcement-death-to-drug-dealers-and-beautiful-american-flag-on-mars">comments about executing drug dealers</a>. One has to wonder whether the Biden team talked a bigger game than it was intending to play. And, judging by Harris&#8217;s failure to mention her cannabis policy position in her campaign page, maybe there's no game at all.
As polling indicates growing support for cannabis legalization, among Democrats as well as Republicans, Harris's decision to leave out the issue could cost her key voter support. Trump's newfound cannabis stance may resonate with advocates of marijuana reform who are willing or able to overlook his other policies.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40776688/texans-want-weed-decriminalized-majority-supports-easing-cannabis-penalties-recent-poll-shows">Texans Want Weed Decriminalized: Majority Supports Easing Cannabis Penalties, Recent Poll Shows</a></li>
</ul>
Photo courtesy: Shutterstock

Cannabis

Government

News

Politics

Trump Applauded For Backing Marijuana Legalization While Harris Omits Cannabis Reform From Campaign Issues Page

Sirius XM Holdings will have a single outstanding series of common stock and will begin trading at market open on Tuesday, September 10, 2024 on the Nasdaq Global Select Market under the symbol &quot;SIRI&quot;.
Liberty Media&#39;s Liberty Formula One common stock and Liberty Live common stock will continue trading following the Split-Off and Merger on the Nasdaq Global Select Market or the OTC Markets, as applicable.

FWONA

SIRI

Liberty Media And Sirius XM Report Completion Of Split-Off And Merger; New Sirius Is Now An Independent Public Company Separate From Liberty Media

SS&amp;C&#39;s Managed Fund Administration team will provide unit registry services to 88 BT-managed funds, including investor servicing and unit registry websites for digital account access and transactions.

Contracts

SSNC

Australia's BT Signs Long-Term Agreement With SS&C Global Investor And Distribution Solutions For Unit Registry Services

Psyence Biomedical Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBM#NASDAQ">PBM</a>) announced a major milestone on Monday with the initiation of the first clinical trial site in Australia for its Phase IIb study on nature-derived <a href="https://www.benzinga.com/topic/psilocybin">psilocybin</a> as a potential treatment for Adjustment Disorder in patients receiving palliative care. This development marks a key step toward advancing <a href="https://www.benzinga.com/topic/psychedelic-assisted-therapies">psychedelic-based treatments</a> in the healthcare industry.
The trial, conducted in partnership with Fluence, a leader in psychedelic therapy research, and iNGENū CRO Pty Ltd, a renowned Australian clinical research organization, aims to explore the efficacy of Psyence's naturally sourced psilocybin drug, <a href="https://www.benzinga.com/markets/cannabis/23/03/31444645/psychedelic-research-expands-in-australia-with-palliative-care-partnership-new-mdma-analog-portf">PEX010</a>. As the company <a href="https://www.globenewswire.com/news-release/2024/09/09/2942714/0/en/Psyence-Biomed-Announces-Initiation-of-First-Trial-Site-in-Australia-for-its-Phase-IIb-Study-of-Nature-Derived-Psilocybin-as-a-Potential-Treatment-for-Adjustment-Disorder-in-Pallia.html">stated</a>, patient screening is set to begin immediately, with the first subject expected to be randomized in October.
<h3 class="wp-block-heading">A Critical Advancement For Psychedelic Therapeutics</h3>
Dr. Clive Ward-Able, medical director of Psyence Biomedical, expressed enthusiasm about the trial's progression. &#8220;The imminent activation of the first trial site and patient screening for this trial represents a significant milestone for our company and a positive step forward for the advancement of psychedelic-based therapeutics generally,&#8221; he said. He emphasized that data from the study, expected in the second half of 2025, could pave the way for a pivotal Phase III clinical program.
The study will investigate the effects of psilocybin on patients suffering from Adjustment Disorder, particularly those dealing with life-limiting cancer diagnoses. The randomized, double-blind, placebo-controlled trial will evaluate two therapeutic doses of psilocybin (10mg and 25mg) against an active low-dose comparator (1mg) in conjunction with psychotherapy, enrolling 87 patients.
<h3 class="wp-block-heading">Promising Partnerships Driving Innovation</h3>
Veronika Simic, senior clinical project manager at iNGENū, highlighted the potential of psilocybin in addressing unmet mental health needs. &#8220;We believe psilocybin holds great promise as a treatment for a broad range of mental health conditions,&#8221; Simic stated. She also reaffirmed iNGENū's commitment to efficiently advancing the study in collaboration with Psyence Biomedical.
The <a href="https://www.benzinga.com/news/24/07/39966103/why-psyence-biomedical-pbm-stock-is-skyrocketing">export of PEX010 to Australia</a> earlier this year was a crucial preparatory step, and the trial site's activation signals significant progress toward exploring the therapeutic potential of naturally derived psilocybin.
Cover image made with AI

Psychedelics

Press Releases

Psyence Biomed Launches First Trial Site In Australia For Phase IIb Psilocybin Study In Palliative Care

A rising valuation of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in 2024 has helped boost the wealth of Jensen Huang, the co-founder and CEO of the company that was once created inside<a href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant"> a Denny's restaurant.</a>
What Happened: Nvidia stock has risen significantly over the last several years, thanks to a boom of the <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence sector</a> and the company's dominant market share for several related items.
While shares of Nvidia have fallen in recent months<a href="https://www.benzinga.com/news/earnings/24/08/40613050/nvidia-q2-earnings-guidance-top-street-view-as-ai-fuels-record-data-center-revenue-gross-margin-fal"> after quarterly earnings</a>, the stock remains up over 119% year-to-date as seen on the <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent090924">Benzinga Pro chart </a>below.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent090924"><img loading="lazy" decoding="async" width="1001" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09163329/Screenshot-170.png" alt="" class="wp-image-538330" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09163329/Screenshot-170.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09163329/Screenshot-170-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09163329/Screenshot-170-768x387.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>
Nvidia is currently valued at $2.60 trillion, which comes 16 months after passing a $1 billion market capitalization.
Huang has a wealth of $90.5 billion, ranking 18th according to <a href="https://www.bloomberg.com/billionaires/">Bloomberg</a>. While Huang hasn't cracked the top 10 list yet and would currently need to hit a wealth of $130 billion, the Nvidia co-founder is one of the fastest risers among the world's richest people.
Huang's wealth is up $46.4 billion year-to-date in 2024.
That figure is more than the combined $41.83 billion gained by Elon Musk, Jeff Bezos and Bill Gates. Musk, Bezos and Gates currently rank first, second and fifth, respectively, with the current wealth and year-to-date gains.
<ul>
<li>Elon Musk: $237 billion, +$7.73 billion year-to-date</li>
<li>Jeff Bezos: $195 billion, +$17.9 billion year-to-date</li>
<li>Bill Gates: $157 billion, +$16.2 billion year-to-date</li>
</ul>
The gain by Huang is one of the largest year-to-date gains, trailing only Meta Platforms CEO Mark Zuckerberg, who is up $49.9 billion and listed fourth at $178 billion.
Seventeen of the top 18 richest people have added to their wealth in 2024 with third-place Bernard Arnault, CEO of LVMH, down $26.8 billion year-to-date.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent090924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: With Nvidia shares trading lower after second-quarter financial results, many analysts see a<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40628887/nvidia-analysts-say-pullback-is-buying-opportunity-pushing-ai-envelope-too-signific"> potential buying opportunity </a>and call the semiconductor company one of the best ways to play the growth of artificial intelligence.
Huang's wealth is mostly tied to the stock performance of Nvidia, which means he could continue to climb up the billionaires&#8217; list if the semiconductor company can outperform the market and other stocks tied to those on the list.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent090924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Entertainment

Education

Management

NVDA

Jensen Huang Added As Much To His Wealth In 2024 As Musk, Bezos, Gates Combined

U. S. Steel Reveals Roll Out Of ZMAG Carbon Flat Rolled Coated Steel Product

Recent research from Northwell Health, published in late August in the journal Cannabis and Cannabinoid Research, indicates that marijuana users may face better outcomes when battling COVID-19, including lower rates of severe infections and reduced likelihood of intubation or death. This promising development points to the potential immunomodulatory effects of <a href="http://benzinga.com/cannabis">cannabis</a>, which could lessen dangerous inflammation during infection.
<h3 class="wp-block-heading">Cannabis Users Show Lower COVID-19 Mortality</h3>
The <a href="https://www.liebertpub.com/doi/10.1089/can.2024.0048">study</a> analyzed data from the National Inpatient Sample Database, comparing hospital admissions for COVID-19 among cannabis users and non-users. Adjusting for various factors like age, gender, and comorbidities, the findings, as <a href="https://www.forbes.com/sites/ajherrington/2024/09/05/marijuana-users-had-better-covid-19-outcomes-new-study-shows/">reported</a> by Forbes, revealed a significant reduction in mortality and severe complications such as lung failure among cannabis users. Specifically, the mortality rate among non-users was 5.1%, nearly double the 2.8% observed in cannabis users. Additionally, cannabis users tended to have shorter hospital stays, averaging 6.4 days compared to 7.0 days for non-users.
<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 <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Cautions Noted Despite Positive Findings</h3>
However, despite these encouraging results, experts urge caution. Dr. Benjamin Caplan, a cannabis <a href="https://www.benzinga.com/topic/dr-benjamin-caplan">expert</a> and author consulted by Forbes, highlighted potential limitations in the study, such as challenges in adequately matching study subjects and absence of crucial data, including patient inflammation levels and the specific cannabis products used.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40722243/cbd-increases-effect-of-thc-new-study-finds-quite-the-opposite-of-popular-belief">CBD Increases Effect Of THC, New Study Finds &#8211; Quite The Opposite Of Popular Belief</a>
<h3 class="wp-block-heading">Mixed Research Findings On Cannabis And COVID-19</h3>
The study's <a href="https://www.benzinga.com/markets/cannabis/23/10/35257022/cannabis-consumers-who-had-covid-19-experienced-better-outcomes-than-nonusers-new-study-shows">preliminary results</a> as well as previous research also support the potential association between cannabis and reduced COVID-19 severity. For instance, <a href="https://www.benzinga.com/markets/cannabis/22/01/25021545/cannabis-and-covid-cannabinoid-acids-found-in-hemp-can-prevent-and-treat-coronavirus-infection-n">a 2022 study by researchers from Oregon State University</a> showed that certain cannabinoid acids in cannabis could prevent the SARS-CoV-2 virus from entering human cells in vitro by binding to its spike protein, suggesting a possible preventive role against the virus.
Earlier research cited in the Forbes article presents a mixed view: <a href="https://www.benzinga.com/general/biotech/24/01/36582743/cannabis-and-covid-preventive-and-long-term-therapeutic-approach-revealed-in-new-study">Canadian studies suggest cannabinoids might reduce COVID-19 severity</a> by hindering viral entry and easing oxidative stress. Conversely, a University of Washington study linked marijuana use with increased severe COVID-19 risks, underscoring that no evidence supports smoking cannabis as a preventive or curative measure for the virus.
As <a href="http://benzinga.com/topic/cannabis-research">cannabis research</a> progresses, more studies are vital to fully understand its potential health benefits and risks, particularly given the long history of prohibition that has stifled scientific exploration in this emerging field.&nbsp;
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40742396/mounting-research-supports-cannabis-as-health-care-tool-plant-compounds-relieve-endometriosis-pa">Mounting Research Supports Cannabis As Health Care Tool: Plant Compounds Relieve Endometriosis Pain And Reduce Fatigue, Studies Find</a></li>
</ul>
Photo: Benzinga edit with sources from <a href="https://unsplash.com/@fusion_medical_animation?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">Fusion Medical Animation </a>and <a href="https://unsplash.com/@girlwithredhat?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">Girl with red hat</a> on <a href="https://unsplash.com/s/photos/hemp?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">Unsplash</a>.

Health Care

Cannabis Use Linked To Improved COVID-19 Outcomes, New Study Suggests

Canadian medical cannabis company Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ACB#TSX">ACB</a>) and Vectura Fertin Pharma, Inc., an innovator in wellness and healthcare, announced on Monday the launch of the newly developed Luo CBD lozenge.
<h3 class="wp-block-heading">What Happened</h3>
The product was developed by Vectura Fertin Pharma, and represents the company's first medical cannabis CBD lozenge to be introduced in Canada.
The move follows the announced commercial collaboration between Vectura Fertin Pharma's subsidiary Cogent International and the Edmonton, Alberta-based company to leverage Aurora&#8217;s Canadian medical cannabis patient platform.
Cogent manufactures, packages and labels the CBG lozenge, a novel dissolvable format and is easy to dose.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40219701/aurora-cannabis-shares-jump-on-q1-fy25-earnings-global-medical-marijuana-yields-record-revenue-o">Aurora Cannabis Shares Jump On Q1 FY25 Earnings, Global Medical Marijuana Yields Record Revenue Of $343M</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Why It Matters</h3>
Through Aurora&#8217;s patient platform, Cogent will gain access to patient feedback on the CBD lozenge, which will be used to validate the product proposition and build real-world patient data to inform future products.
&#8220;As the leading provider of medical cannabis in Canada, the launch of the newly developed Luo CBD lozenge on our platform is a significant and exciting milestone at the beginning of our strategic collaboration with Vectura Fertin Pharma," said Aurora CEO Miguel Martin. "We are committed to bringing innovative solutions to patients and this launch reinforces our position at the forefront of Canada&#8217;s medical cannabis industry.&#8221;
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09083545/ccc-oct-24-banner__1_-13.gif" alt="" class="wp-image-537351" /></a></figure>
<h3 class="wp-block-heading">What's Next</h3>
The two companies are open to exploring opportunities regarding the potential commercialization of other Vectura Fertin Pharma medical cannabis products in Canada.
<h3 class="wp-block-heading">ACB Price Action</h3>
Aurora's shares traded 2.96% higher at $5.57 per share during the pre-market session on Monday morning.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40567166/nasdaq-cannabis-titan-aurora-could-boost-31-sales-surge-with-this-new-cbd-lozenge-partnership">NASDAQ Cannabis Titan, Aurora, Could Boost 31% Sales Surge With This New CBD Lozenge Partnership</a></li>
</ul>

Retail Sales

TSX:ACB

Aurora's CBD Lozenge Partnership: Here's Where To Find The New Product

A new study published in Drug and Alcohol Dependence Reports found that usage among adults has surged, but teenage cannabis use maintained its yearly levels.
The study, which analyzed data from over 543,000 people between 2013 and 2022, offers a closer look at how legalization and shifting attitudes have reshaped the social adoption of cannabis, <a href="https://www.theguardian.com/society/article/2024/sep/07/cannabis-use-survey-teenagers">reported</a> The Guardian.
Another notable finding is the rise in cannabis consumption among adults with higher incomes and college degrees. Researchers crunched the numbers coming from the<a href="https://www.samhsa.gov/data/data-we-collect/nsduh-national-survey-drug-use-and-health"> National Survey on Drug Use and Health</a> (NSDUH) to examine trends across various demographics. 
<h3 class="wp-block-heading">Teen Use Holds Steady</h3>
Despite concerns that cannabis legalization might drive increased use among teenagers, the data shows otherwise. The outcome is strong, since it <a href="https://www.benzinga.com/markets/cannabis/23/12/36228666/the-kids-are-alright-government-study-finds-teen-cannabis-use-holds-steady-despite-increased-sta">coincides with a previous study</a> on the matter. 
In fact, while use among teens has remained between 6% and 7% over the last decade according to the new study, previous studies have even showed a <a href="https://www.benzinga.com/markets/cannabis/23/05/32242259/cdc-survey-shows-legal-weed-dispensaries-have-helped-curb-teen-cannabis-use">decrease</a> among this demographic group.
&#8220;We expected to see an increase, especially with the broader legalization and availability,&#8221; said Dr. Delvon Mattingly, lead author of the study and a behavioral science professor at the University of Kentucky. &#8220;But the data show that teen use has remained surprisingly flat.&#8221;
Experts believe that strict regulations preventing dispensaries from selling to minors have played a role. Dispensaries often enforce age verification using ID scans, which reduces the chances of illegal access.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38976556/daily-cannabis-consumption-outpaces-daily-alcohol-use-in-the-us-for-the-first-time-new-study-sho">Daily Cannabis Consumption Outpaces Daily Alcohol Use In The US For The First Time, New Study Shows</a>
<h3 class="wp-block-heading">Cannabis Use Climbs Among Rich And Educated Adults</h3>
Overall cannabis consumption has increased among adults, particularly those with higher incomes and college degrees. Individuals in households earning $75,000 or more per year nearly doubled their usage, from 5.89% in 2013 to 13.20% in 2022. Likewise, usage among college graduates rose sharply from 4.48% to 12.42% during the same period.
This increase highlights how legalization has led to the normalization of cannabis. Experts suggest that changing public attitudes have fueled this increase, especially among wealthier, educated Americans. 
&#8220;With legalization, cannabis has become more normalized, especially among higher-income groups,&#8221; Mattingly noted. &#8220;People are using it recreationally and for medical reasons, particularly for managing pain and anxiety.&#8221;
<h3 class="wp-block-heading">Shifting Public Perception</h3>
Jordan Gette, a postdoctoral fellow at the Rutgers Center of Alcohol and Substance Use Studies, noted, &#8220;We see celebrities and professional athletes endorsing cannabis products, which has helped shed its stigma.&#8221; 
This shift has also been aided by dispensaries opening in affluent areas, making cannabis more accessible to wealthier demographics.
Medical cannabis also played a role in this shift. In states where medical cannabis is legal, many older adults now turn to it<a href="https://www.benzinga.com/24/07/39774432/new-study-shows-high-use-of-medical-cannabis-for-chronic-pain-and-arthritis-in-older-patients"> to treat chronic conditions</a>. &#8220;Higher income is often correlated with access to healthcare, and medical cannabis is increasingly being used to manage chronic conditions like pain,&#8221; Mattingly added.
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">Racial And Ethnic Patterns</h3>
The study also brought to light notable racial and ethnic trends. 
Statistics show a higher prevalence among non-Hispanic multiracial individuals, with over 25% reporting having used in 2022. This group had the highest rate of cannabis consumption compared to other racial and ethnic categories.
Mattingly emphasized the importance of continuing research that includes multiracial individuals. &#8220;These findings underscore the importance of including multiracial populations in future research,&#8221; Mattingly said.
<h3 class="wp-block-heading">Cannabis And Hallucinogen At Record Highs</h3>
In addition to these findings, another recent study from the University of Michigan's Monitoring the Future (MTF) survey showed that cannabis and hallucinogen among U.S. adults reached <a href="https://www.benzinga.com/markets/cannabis/24/08/40652731/cannabis-and-hallucinogen-consumption-hit-all-time-highs-in-2023-while-tobacco-and-alcohol-decli">a historically high level in 2023</a>.
According to the survey, 42% of young adults aged 19 to 30 reported using cannabis in the past year, with 10% engaging in daily consumption. Similarly, among adults aged 35 to 50, 29% reported having consumed in the past year, with 8% using it daily.
The MTF survey also noted an increase in hallucinogen use.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40652731/cannabis-and-hallucinogen-consumption-hit-all-time-highs-in-2023-while-tobacco-and-alcohol-decli">Cannabis And Hallucinogen Consumption Hit All Time Highs In 2023 While Tobacco And Alcohol Declined</a></li>
</ul>

Markets

Cannabis Use Rose Among US Adults Over 10 Years, But Kept Steady In Teens, Finds New Study

Earnings

EZGO

EZGO Technologies H1 Revenues $8.6M, Up From $5.16M Last Year

Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares are trading lower after Monday's closing bell. The company announced it has commenced a public offering of $1.35 billion (27 million shares) of Series C mandatory <a href="https://www.benzinga.com/pressreleases/24/09/b40782527/hewlett-packard-enterprise-announces-proposed-public-offering-of-mandatory-convertible-preferred-s">convertible preferred stock.&nbsp;</a>
The Details: Hewlett Packard also expects to grant the underwriters a 30-day option to purchase up to an additional $150 million (3 million shares) of preferred stock to cover over-allotments, if any. 
Hewlett Packard said it intends to use the net proceeds from the offering to fund all or a portion of the consideration for the previously announced pending acquisition of Juniper Networks, Inc., to pay related fees and expenses, and, if any proceeds remain, for other general corporate purposes.
Read Next: <a href="https://www.benzinga.com/news/24/09/40774644/dell-technologies-to-included-in-s-p-500-whats-going-on-with-the-stock">Dell Technologies To Be Included In S&amp;P 500: What&#8217;s Going On With The Stock?</a>
The company said each share of preferred stock will have a liquidation preference of $50 per share,&nbsp; and each share will automatically convert into a number of shares of common stock on or around Sept. 1, 2027, based on the applicable conversion rate.
Hewlett Packard intends to apply to list the preferred stock on the New York Stock Exchange under the symbol &#8220;HPEPrC.&#8221;
HPE Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Hewlett Packard shares are down 6.08% after-hours at $16.53 at the time of publication Monday.
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40777175/whats-going-on-with-gamestop-stock-ahead-of-earnings">What&#8217;s Going On With GameStop Stock Ahead Of Earnings?</a></li>
</ul>
Photo: Shutterstock

After-Hours Center

Movers

Tech

What's Going On With Hewlett Packard Stock After-Hours?

Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) has outperformed the market over the past 10 years by 15.96% on an annualized basis producing an average annual return of 26.5%. Currently, Palo Alto Networks has a market capitalization of $111.85 billion. 
Buying $1000 In PANW: If an investor had bought $1000 of PANW stock 10 years ago, it would be worth $10,589.41 today based on a price of $344.05 for PANW at the time of writing.
<h3>Palo Alto Networks's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725917417_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

PANW

Here's How Much $1000 Invested In Palo Alto Networks 10 Years Ago Would Be Worth Today

Republic Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSG#NYSE">RSG</a>) has outperformed the market over the past 15 years by 2.99% on an annualized basis producing an average annual return of 14.56%. Currently, Republic Servs has a market capitalization of $64.48 billion. 
Buying $1000 In RSG: If an investor had bought $1000 of RSG stock 15 years ago, it would be worth $7,692.02 today based on a price of $205.30 for RSG at the time of writing.
<h3>Republic Servs's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725917412_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 15 Years Ago, You Would Have $7,700 Today

In a recent exclusive interview with Benzinga, Paul Eitelman, chief investment strategist for North America at Russell Investments, provided insights into the sectors of small-cap stocks that stand out <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis">amidst economic uncertainty</a>.
While small-caps as a whole face some macroeconomic risks, Eitelman highlights several specific sectors that could offer substantial opportunities.
<h1 class="wp-block-heading">Where Small-Cap Managers Are Finding Opportunities</h1>
Eitelman notes that &#8220;dedicated small-cap managers are finding opportunities to tilt their portfolio strategies toward banks, technology and select highly indebted companies that are likely to benefit from lower interest rates going forward.&#8221; These sectors are positioned to thrive, especially as interest rates begin to decline.
Technology continues to dominate market discussions, and small-cap tech companies could be key beneficiaries of economic shifts, particularly those aligned with innovative growth areas like AI and data services.
The Russell 2000 index is one of the more popular indices tracking small cap U.S. equity. ETFs that track this index include the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), the Vanguard Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTWO#NYSE">VTWO</a>) and the Avantis US Small Cap Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVSC#NYSE">AVSC</a>). The Invesco S&amp;P SmallCap Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSCT#NYSE">PSCT</a>) is a lesser-known but technology-focused ETF tracking small cap companies. The top 3 holdings of this ETF are Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>), SPS Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) and Badger Meter Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>).
Read Also: <a href="https://www.benzinga.com/news/24/08/40423157/small-cap-ai-stocks-on-the-rise-3-hidden-gems-you-shouldnt-miss">Small-Cap AI Stocks On The Rise: 3 Hidden Gems You Shouldn&#8217;t Miss</a>
<h1 class="wp-block-heading">Stock Selection: Primary Driver Of Risk, Return</h1>
However, Eitelman cautions that given the high macroeconomic uncertainty, broad sector bets are risky. He recommends a more refined approach: "Our preference into high macro uncertainty is to target only modest sector tilts and let stock selection shine as the primary driver of risk and return."
This focus on stock selection over aggressive sector rotation makes sense in an environment where not all companies are equally positioned to navigate fluctuating interest rates or economic slowdowns. 
Banks, for example, are likely to benefit from a soft landing scenario, while indebted companies could see relief as rates fall. Tech remains a favorite sector due to its long-term growth prospects, even amid near-term uncertainty.
Overall, Eitelman's strategy emphasizes precision and caution, advising investors to prioritize stock-picking and avoid broad over-exposure in the small-cap space.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40749609/this-small-cap-top-pick-is-positioned-for-strong-gains-jpmorgan-sees-over-50-upside">This Small Cap &#8216;Top Pick&#8217; Is Positioned For Strong Gains, JPMorgan Sees Over 50% Upside</a></li>
</ul>
Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference on Oct. 9-10, 2024</a>, at the Chicago Marriott Downtown Magnificent Mile.
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Secure your spot and get your tickets today!</a>
Photo: Borka Kiss via Shutterstock

Broad U.S. Equity ETFs

Specialty ETFs

Small Cap Analysis

Small Cap

Exclusives

Interview

ETFs

AVSC

PSCT

SPSC

VTWO

EXCLUSIVE: Russell Strategist Uncovers Top Small-Cap Picks — Seizing Opportunities In A Low-Rate Environment

Based on the expansion of the Fiscal 2025 restructuring plan range and the impacts related to fiscal 2025, the company updated the following expectations for its fiscal 2025&nbsp;outlook:
<ul>
<li>Operating loss&nbsp;is expected to be&nbsp;$220&nbsp;to&nbsp;$240 million&nbsp;versus the previous expectation of&nbsp;$194&nbsp;to&nbsp;$214 million. Excluding the mid-point of anticipated restructuring charges and the litigation reserve expense,&nbsp;adjusted operating income&nbsp;is expected to be&nbsp;$140&nbsp;to&nbsp;$160 million.</li>
<li>Diluted loss per share&nbsp;is expected to be&nbsp;$0.58&nbsp;to&nbsp;$ 0.61&nbsp;versus the previous expectation of&nbsp;$0.53&nbsp;to&nbsp;$0.56, and&nbsp;adjusted diluted earnings per share&nbsp;are expected to be&nbsp;$0.19&nbsp;to&nbsp;$0.22.</li>
</ul>

Guidance

Under Armour Continues To Expect FY25 Adjusted EPS To Be $0.19 - $0.22, Est $0.24

Previously, the company expected to incur pre-tax restructuring and related charges of approximately&nbsp;$70 million&nbsp;to&nbsp;$90 million&nbsp;in connection with its Fiscal 2025 restructuring plan.
Following further evaluation, the company has identified approximately&nbsp;$70 million&nbsp;of charges, largely related to the decision to exit one of its primary distribution facilities located in&nbsp;Rialto, California, by&nbsp;March 2026.
Accordingly, it now expects approximately&nbsp;$140 million&nbsp;to&nbsp;$160 million&nbsp;of pre-tax restructuring and related charges to be incurred in Fiscal 2025 and Fiscal 2026.
Through the three months ended&nbsp;June 30, 2024, the company had incurred approximately&nbsp;$34 million&nbsp;of restructuring and related charges ($19 million&nbsp;in cash and&nbsp;$15 million&nbsp;in non-cash).&nbsp; The company anticipates incurring approximately two-thirds of the charges under the revised total plan by the end of fiscal year 2025.

Under Armour Reports Update To Its FY25 Restructuring Plan, Including Additional Initiatives

Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares climbed 3.8% in regular trading Monday, but are down slightly in the after-hours session. Here's a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40752830/robinhood-shifted-from-meme-stock-to-market-contender-amid-new-products-and-global-">look at what's going on. </a>
What To Know: Robinhood reported select <a href="https://www.benzinga.com/pressreleases/24/09/g40781343/robinhood-markets-inc-reports-august-2024-operating-data">monthly operating data</a> for August 2024 after Monday's closing bell. 
<ul>
<li>Robinhood reported 24.3 million Funded Customers at the end of August, up approximately 60,000 from July 2024 and up over one million year-over-year.</li>
<li>Assets Under Custody (AUC) at the end of August were $143.6 billion, down 1% from July 2024 and up 60% year-over-year.&nbsp;</li>
<li>Net Deposits were $3.3 billion in August, translating to a 27% annualized growth rate relative to July 2024 AUC. Over the past 12 months, Net Deposits were $37.5 billion, translating to an annual growth rate of 42% relative to August 2023 AUC.</li>
<li>Equity Notional Trading Volumes were $96.2 billion, down 8% from July 2024 and up 61% year-over-year. Options Contracts Traded were 146.9 million, down 8% from July 2024 and up 37% year-over-year.&nbsp;</li>
<li>Crypto Notional Trading Volumes were $5.4 billion, up 2% from July 2024 and up 145% year-over-year.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/24/09/40777175/whats-going-on-with-gamestop-stock-ahead-of-earnings">What&#8217;s Going On With GameStop Stock Ahead Of Earnings?</a>
Robinhood is set to present at the Goldman Sachs Communacopia + Technology Conference on Tuesday. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Robinhood shares are trading slightly below the stock&#8217;s 50-day moving average of $24.88.&nbsp;
HOOD Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Robinhood Markets shares are down 0.51% after-hours at $19.56 after gaining 3.80% in regular trading Monday.
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40774644/dell-technologies-to-included-in-s-p-500-whats-going-on-with-the-stock">Dell Technologies To Be Included In S&amp;P 500: What&#8217;s Going On With The Stock?</a></li>
</ul>
Photo: Shutterstock

HOOD

What's Going On With Robinhood Stock Today?

Tuesday&#8217;s presidential debate between Donald Trump and Kamala Harris will be one of the biggest events of the election cycle, with less than two months until the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
How to Watch the Presidential Debate: While it's the first debate between Harris and Trump, this week's presidential debate will be the second for Trump as he previously faced off against President Joe Biden, who <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">stepped down from the 2024 </a>race after the last debate.
On Tuesday, Harris and Trump will meet for a live debate in swing state Pennsylvania. The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) unit ABC News is hosting the debate, with World News Tonight anchor David Muir and ABC News Live anchor Linsey Davis serving as moderators.
The presidential debate airs at 9 p.m. ET Tuesday and will be 90 minutes in length with a scheduled end time of 10:30 p.m. ET. The debate will have two scheduled commercial breaks.
While the debate will be hosted by ABC News and air on ABC and stream on Hulu, ABC is allowing simulcasting, making the debate available on all major broadcast channels and several streaming options.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent090924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Debate Rules: One of the key items discussed ahead of the debate between Trump and Harris was the rules, including one on whether the mics of the two candidates would be muted.
Harris wanted unmuted mics, with Trump wanting muted mics. The original rules for the debate, which had a date and network set previously by Biden and Trump, are being used with muted mics. The mics may be unmuted if there is crosstalk between candidates.
There will be no opening statements from the contestants. The moderators will ask questions with candidates getting two minutes to answer questions, two minutes for rebuttals and one minute for follow-ups and clarification.
Candidates can not have prewritten notes on stage, and their campaign teams can not interact with them during commercial breaks. The contestants will have a pen and notepad and a bottle of water with them on stage.
There is no live audience for Tuesday's presidential debate.
Key Items to Watch: Trump won a coin toss before the debate and chose to give the last closing statement. Harris chose to have her lectern on the left of the stage, which will place her on the right-hand side of screens for viewers.
The presidential debate between Harris and Trump will serve as their first in-person meeting, with no previous interactions due to Trump skipping the 2021 presidential inauguration.
Potential voters could tune in to see how the two candidates differ on key topics and also to hear more about Harris' platform, which has been the subject of debate. Some voters think Harris hasn't done enough to share her policy with minimal interviews and public speeches since being named the Democratic Party candidate after Biden stepped down.
Harris may face scrutiny over shifting positions on key issues, while Trump is likely to be questioned about his alleged ties to Project 2025 and his felony convictions from earlier this year.
Tuesday's debate could prove important to undecided voters and also serve as the only debate for the two candidates. There are currently no additional debates scheduled ahead of the 2024 election for Harris and Trump, with the potential for another debate in September or October still being hashed out.
The vice-presidential running mates of J.D. Vance and Tim Walz will face off in a CBS News hosted debate on Oct. 1.
Viewership for Tuesday's debate is expected to be high, with viewers set to tune in and watch the two candidates face off for the first time. The first 2024 presidential debate between Trump and Biden <a href="https://www.benzinga.com/general/politics/24/06/39563409/heres-how-many-people-watched-the-2024-presidential-debate-and-how-fox-beat-cnn-at-its-own-game">set several records</a> for CNN and was watched by 48 million viewers.
One item for investors to watch will be viewership by network due to the simulcasting. While ABC is hosting the event, they could get beat out by Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) when it comes to viewership, as CNN did earlier this year.
Since Trump and Biden had already faced off in previous debates, viewers may have been less interested in the first debate, which had lower viewership than the first debates of 2020 and 2016. The 2016 first presidential debate between Trump and Hillary Clinton was watched by a record 84 million viewers.
Harris is launching a new political ad on Tuesday that will air nationally on Fox News and in the key markets of Philadelphia and near Mar-a-Lago. The ad features past Trump administration members who have gone on to publicly say they will not endorse him in the 2024 election, as <a href="https://www.politico.com/news/2024/09/09/kamala-harris-ad-donald-trump-00177916?utm_source=briefing&amp;utm_medium=email&amp;utm_campaign=washington_am&amp;utm_content=090924">reported </a>by Politico.
"In 2016 Donald Trump said he would choose only the best people to work in his White House. Now those people have a warning for America: Trump is not fit to be president," a voiceover in the ad says.
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent090924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

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